Higher or Lower?

Episode Transcript

Speaker 1 (00:00):
All right, welcome to bot Bart and Soult. It's the
pre Christmas show, but it's this is going to be
our last show of the year. Brad Smith, Cross Country Mortgage,
Bradsmithlans dot Com. Welcome in the studio.

Speaker 2 (00:15):
Good to see year, good to be here, last last
show of twenty twenty four.

Speaker 1 (00:19):
So yes, man, Pard boy year.

Speaker 2 (00:22):
I mean it is what a year.

Speaker 1 (00:24):
I am so glad twenty twenty four is almost over.

Speaker 2 (00:28):
You know, I'm not. I'm not gonna I'm not gonna
cry over it.

Speaker 1 (00:31):
Yeah, but I tell you what, I'm getting amped up
for twenty twenty five. I early am, I'm I was
on a call a couple of days ago with with
my real estate coach, and we were just talking about
we're focused on twenty to thirty percent of growth for
twenty twenty five. Twenty to thirty percent growth, and man,

(00:53):
it would be so cool if we got to have
some of our listeners be able to participate in some
of our growth next year.

Speaker 2 (01:01):
So sure, So.

Speaker 1 (01:01):
We're getting amped up.

Speaker 2 (01:03):
I've been.

Speaker 1 (01:03):
I've been, man, I've been doing like production meetings with
our agents, you know, just getting them organized, uh and
getting them amped up for twenty twenty five, and man,
I think we're going all in. We're going all in
for twenty twenty five. And you know, the folks that
on our team that are not going all in with
us may not be getting any leads, right, That's right,

(01:27):
you know they might they might be figuring things out
for themselves.

Speaker 2 (01:31):
Yeah, I mean, I you know, I think, you know,
you have these little milestones, and you know, you start
looking at decades and half decades, so it's kind of
hard to believe that we're going to be in twenty
twenty five. I mean, you know, I still feel like
if you tell me something's like twenty twelve, twenty thirteen,
I feel like there's just a couple of years ago.
And so so it's gonna be interesting. But I do
think it's going to be kind of a swing gear
for a lot of folks where it's it's going to

(01:52):
be it's gonna be either make a break, because I
think there's gonna be a lot of opportunity.

Speaker 1 (01:56):
You know, this is what's interesting. This is the so
so I was thinking about this recently. I look back
going into two thousand and five, So something about like
going into a five year going into two thousand and five,
I was helping open up a mortgage brokerage in Nashville, Tennessee.

(02:19):
Remember that, so I literally remember who you were doing
that with? U? And I tell you what, Nashville amazing place.
That was the second time I lived there, and I had,
you know, just an awesome two thousand and four it
was my first year out of college because I graduated
December of three. I worked at a mortgage company in
O four crushed it. Got recruited to help open up

(02:42):
Nashville at another company, and I loved Nashville.

Speaker 3 (02:46):
I mean, like who, I mean.

Speaker 2 (02:47):
Who mischanged a lot?

Speaker 1 (02:48):
But it's changed a lot, but still who doesn't like
nash It was great.

Speaker 2 (02:52):
I mean it's time, Oh my gosh, early two thousands ten.

Speaker 1 (02:56):
So so we opened up Nashville and that was a
company called First n LC and it's no longer around,
which the company I worked for in four was a
Marequest mortgage no longer around because that, you know, the
the subprime market went to you know what, and uh
but anyways, we we opened it up. And so I

(03:17):
started two thousand and five, you know, working towards you know,
getting building this brand, building this this office and and
right around that time, Like, you know, sometimes the grass
isn't always greener, right, And I was having this conversation
with a with an agent this week. I said, you know,

(03:38):
the grass is greener where you water it, and so
if you're not currently watering, the grass.

Speaker 3 (03:46):
Is not going to be green.

Speaker 2 (03:47):
Nope, it's not.

Speaker 1 (03:49):
So you know, anyways, it wasn't as green as I
thought it was, you know, or at least it was
pitched to me. And then my dad started getting sick
and and so I made the like March of five
to come back to Birmingham, and so you know, that
was a big step. So thinking of like four o five.

(04:09):
Then twenty fourteen, twenty fifteen, I made the move to
start a real estate brokerage called Brick Realty, remember that.
And I started with eight agents and by the end
of twenty fifteen we had forty five agents, which was,
I mean, what a wild time. Like twenty fifteen to

(04:32):
twenty eighteen was a little bit of a blur to me.
We had a lot of fun, a lot of growth
of a really cool and fun real estate company. And
and so that was a big that's huge, big change,
big time. And then I mean, and many of you
all know that listened for a while. I mean, we
ended up merging Brick into exp Royalty in August of nineteen.

(04:57):
But then I was, you know, I started looking back,
I was like, well, you know this, this is typically a
big you know for some reason going into five, Like.

Speaker 3 (05:07):
Do I do I need to be doing so?

Speaker 1 (05:09):
Like, so I started thinking to myself like, hey, you know,
I usually have some sort of change, like and so
I started thinking like, man, do I need to.

Speaker 3 (05:15):
Just go find some change exactly?

Speaker 1 (05:18):
And then I was like, you know, like forty three,
I don't necessarily want a ton of change, you know,
exactly right, exactly, So anyways, I'm going into this year
at least as of right now, with no change.

Speaker 3 (05:31):
How about that?

Speaker 2 (05:32):
No change, but big things, big things playing. But I'm
really major change.

Speaker 1 (05:36):
I am really pumped up for our team. We've got.
We've got an amazing staff. They a lot of my
staff have been with me a long time and and
and quite frankly, the last two and a half years
has been difficult. It has been a it's been a
difficult market because the market has completely changed in the

(05:56):
last two and a half years. And I know there
was there was some talk that this has been the
last The last year we've seen this many home sales
or this less of home sales was in two thousand
and eight. Wow, and that interesting, That is very very interesting.

(06:17):
So anyways, we have made it. We made it through
the year. It looks like we're going to finish the
year right around helping two hundred and fifty families or
folks that to help buy and sell houses. So you know,
truly grateful for those opportunities. Was it a year that

(06:39):
I'm super proud of? No, it really wasn't. I mean,
last year we sold three hundred and ninety homes and
so you know, it was a big difference this year.
So it was a very humbling year. I think a
lot of people probably felt, you know, some bigger changes
in their business last year. What we just happened to

(07:01):
feel those changes this year. But you know, now I've
got my master's off my plate, so I don't have
to worry about that. So now I'm digging, you know,
really going deep with my agents, getting them really ramped up,
because I would love to see every single one of
my agents have their best year ever for sure. So

(07:25):
that's what I'm going for. Man, that's that's that's what
I'm looking to do. And uh, I think that it's
definitely gonna be possible with our our coaching and mentorship
of our agents and our staff and you know, our
our our partnerships like iHeart, and our partnerships with you know,

(07:45):
different different you know places where we generate opportunities for sure,
And so you know, you know, to our listeners, you know,
thank you, thank you for your referrals, thank you for
you know, giving us a shot and an opportunity to
just an interview for your business. I mean there's times
that you know, we interview and we might not necessarily

(08:06):
be the you know, the winning agent of that property,
but we are grateful to even just be in the mix.
So but yeah, kind of like a I don't know.

Speaker 2 (08:17):
End of the year up, Yeah, kind of reflective back
on the cheap Pass. Yeah, you know, it was, you know,
it's it's the last couple of years. Yeah, it's been.
It's been challenging. There's been a lot of changing in
the market, a lot of a lot of you know,
you've got to I mean it's always kind of been
that way. You get you can't you got to have
a be kind of go with the EBB and flows
and be ready for you know, adjustments. But you know,

(08:40):
I feel like I feel like we've finally got some
stuff ironed out. We kind of jumped in kind of
into the deep end and didn't check for water first
and just tried to make it work right and so
and so when you're going through a transition like that,
sometimes you have some you can have some successes early
or successes a lot, but you also you know, show
some chinks in the armor and and some some things

(09:00):
I've got to get cleaned up and kind of not
back to the drawing board, not not scrap and start over,
but just say, okay, this is what we've got to
clean up. This is you know, kind of part of
our process and some of that kind of stuff. So
this year was a good time to kind of like
test it, you know, test some new stuff, yeah, and
kind of see what did didn't work, and then cleaning
that up and having it you know, we've kind of
I think we've got a better plan going into twenty

(09:21):
twenty five now that we've got to you know, eight
or nine months with cross country under our belts and
kind of kind of fulfill some key key spots on
our team as well, that that kind of helped keep
them the engine running. So that's what I'm most excited
about for twenty twenty five is just trying to have
some consistency throughout the year on myself, consistent from myself

(09:43):
in throughout the team and and folks. But I mean,
I'm really am excited. I think I think twenty twenty
five is going to be a really good year. I mean,
just because I feel like it's just due to have
like kind of a bust out. You know, you you
reference in two thousand and eight minute ago did remind me.
I was like, well, you know, two thousand and eight
brought us four percent mortgage rates, So but that that

(10:06):
wasn't necessarily the greatest thing for those rates to to
to get there. So let's let's let's hope we're not
going to necessarily to those extremes necessarily. We just wanted
were just asking for mid fives, just the economy to
be balanced in mid fives.

Speaker 3 (10:20):
Right down head fives.

Speaker 1 (10:22):
If if we're at mid fives, like it's balanced, every kid,
we can make a market. We can make a market.
I think a lot of people will decide to move. Uh,
they will use the equity in their house, move on
to the next one. Yeah, they'll have a little bit
higher payment but a little bit higher interest rate. But
you know, I think people are ready to to to
make a move and make a change. And you know,

(10:44):
we've got a lot of we have a lot of
buyers that are just really sitting on the fence. They
might be waiting for rates to come down. They might
be waiting for the right house or the right you
know time. You know, but when is the right time?
I mean, typically the right time is going to be
when the house of your dream pops up, right, you
need to.

Speaker 3 (11:02):
Go take advantage of it.

Speaker 1 (11:04):
And you know what if it is a one percent
higher interest rate that you know you might have, but
you're probably just gonna have it for a little bit.
Are you more worried about your interstrate? Are you more
worried about loving the house that you want to live in?

Speaker 2 (11:17):
And if you're in the current house and you sit
there and look at what the potential of your house
may have appreciated since you've been there, you know, who's
you know, realize those gains on that appreciation and the
interest you know, may wash it out. Anyways, as far
as what the interest really isn't hurting you because you're
coming out pretty pretty sporty on the on the on
the back. If you've got something, you've been in it.
So again, I think it's and we've talked about it

(11:40):
on this show. I think some of it is retraining
everybody's normal of what the mortgage should be. And so,
you know, we had a decade plus where you know,
high fours and every once in a whiled creep into
the low fives and everybody freaked out, and so to
get back in the fours and then COVID hitting that
got it into threes and even high twos for a
little bit. You know, we were in the mid to

(12:02):
low fours for almost a decade. Yeah, and so we
did not realize how good we had it, right, That's right, man,
I should have bought every single freaking house I could have.
I know, I kicked myself looking back. But I also think, like,
you know, when you have a little bit more experience,
you know, some people can take advantage early on, but

(12:26):
you know, when you kind of go through different cycles,
you're a little bit older, you maybe have a little
bit you know, opportunity for access to capital and whatnot.
Then you're like, all right, well maybe in your late
forties fifties, then you can get a little bit more.
You know, hey, I've seen this the way it looks

(12:46):
at before. Now I feel a lot more comfortable, like
moving in right and working your confidence of everything. It's you.
It's your confidence that you're comfortable with in which you
can kind of, you know, get out there. And so
I I do. I think, I think I think that's
a lot of it is getting everybody's just going to
be like, okay, you know again, we'll talk about the rates,
give some relief, and you know that that we've retrained

(13:08):
that seven's are possibility for an extended period of time,
you know. Then then everybody, oh, yes, we're finally back
in the files. Let's go and then if it goes
back up, it's like, okay, well this is just like
the two or three years we had before.

Speaker 1 (13:21):
So anyways, well, speaking of that, what I want to
do is I want to get a break. When we
come back from break, I want to talk about what
is going on in the market right now, what are
we going to see through the end of the year,
and because our next show is going to be you know,
after the twenty five. Yeah, so so we'll give you
the skinny right when we come back here in just
a minute. All right, welcome back to Bob Bard and Sold.

(13:48):
And we've got Brad Smith with Cross Country Mortgage, Brady
Smith alones dot com hanging out with us in the studio.

Speaker 3 (13:57):
And hey, we.

Speaker 1 (13:59):
Had a another Fed federal funds rate cut this week, yep,
quarter percent.

Speaker 2 (14:06):
And what did mortgage rates do?

Speaker 3 (14:07):
They went up?

Speaker 2 (14:08):
They went up?

Speaker 1 (14:09):
Why what in the madness is going on?

Speaker 2 (14:13):
So you know, some of it some of us, you know,
some government shut down issues and a little bit of
freaking out on that and uh, and then you've got, uh,
you've got some you know, a lot of these inflation numbers.
They look at it compare you know, from month to month.
They also are looking at it from the twelve months,
you know, from comparing it from month to month from
a year ago, and then they're looking at twelve month cycles.

(14:35):
And so the inflation numbers came about where they where
they thought, but it wasn't as good as they wanted.

Speaker 3 (14:39):
On the PCE.

Speaker 2 (14:41):
It actually went up about zero point one percent from
last year. But a lot of it they want they
just wanted it to be flat or neutral and to
go down. But the but but but part of that,
and we've talked about it a lot of times. Also,
is that trailing data that we're talking about and then
when what months are falling off? So we didn't have
any rape cuts before and then so we're we had
a very but we did have a very small number

(15:03):
in November of last year, so what what fell off
wasn't was actually a helping number. But now we've got
some big numbers that are going to be dropping off
in December, February, January, and February. That should make those
numbers look good and really kind of show that the
inflation is going in the right direction and help get
the rates back down. And I still just I mean,
I think this was kind of a weird week, just

(15:24):
news cycle. It's kind of a kind of threw everything off.
I mean, you know, I was on here last week
talking about you know, this is the first time I'm
telling people to flow because I really think we're going
to get some rate relief for the end of the year,
and then all of a sudden we have a crazy
other way. But now Friday had we had some good
news and kind of had some rebound and made up
a lot of ground. So you know, it's probably pretty
fairly flat over from maybe an eighth to a quarter

(15:46):
of difference and an actual rate increase from last week.
But we've still got a lot of room for some
decreases and I think I think they're still coming and
I'm not hitting. I got a lot of text about
was bond mark It's not like in this was, you know,
and I'm like, just you know, we're going to have
these days and we're going to have some of these
quick hits. Yeah, but let's not lose sight of what

(16:09):
the long term, what we're structuring for and the rates
coming down. As part of that, well.

Speaker 1 (16:14):
I was going through some rat you know, rabbit holes,
rabbit trails, and I started I started seeing where there
was some talk about because of the threat of tariffs,
just the communication and conversation of tariffs are typically inflationary, yep.

(16:37):
And so with that conversation, it's it's making people think that,
you know, hey, inflation is going to continue, this is
going to cause some issues, and that has a little bit.

Speaker 3 (16:49):
To do with it.

Speaker 2 (16:50):
It does, and that and that, you know, that kind
of goes back to what we were talking about even
prior election and right after the election, is it kind
of goes it goes back to you've got you had
Trump in from twenty sixteen to twenty twenty working his
game plan, right, yeah, and that is strong you know, tariffs,
which which are inflationary, and then you have a change

(17:14):
in presidency and they they want to attack it a
different way. But you've already got all these things in
place that were set up for for that that a
lot of money to come in, but a plan so
that didn't hurt the inflation on the other side. But
then you come in and sort I've used football because
of where we are, it's easy fire coach that's a
run first guy and hire a pass first guy and

(17:35):
to all these other players. Sometimes it takes a couple
of years of transition. So now we're going back to this,
but we're still going to have some things trailing from
the old administration that where the tariffs is going to
cost some inflation numbers.

Speaker 3 (17:46):
But but and what they're trying to pass now.

Speaker 2 (17:48):
But it's all part of the kind of the plan
and there's some things they can do to force the
rates back down. I think that. But but I mean
the Trump plan is to put more money in the
United States. But you're putting more money in, that's the
inflation piece. So you've got it's got to have some
kind of balancing. And so we had more money going out,
I mean, more money getting into the market and not

(18:09):
enough ways to dry it up. You dried up with
interest rates, increasing costs and funds and and goods and
services and everything else. So I think, I think once
we can get this kind of leveled out, it's gonna
work itself out. But there are some some some fears
that there will be weaken in the dollar because we're

(18:29):
we putting more dollars in, you know, into the country
by they're coming small potative easing or quantitative easy quantitative yes,
and so that. You know, So it's it's all part
of a plan. But again it's not I'm not even
I'm not even gonna argue which plans better. It's just
we've been mixing to plans together and they don't work together.
The whole plan's got to go together. They've got to

(18:51):
work in tandem. And so I think I think we're
getting there and it's going to be fine.

Speaker 1 (18:55):
It's kind of like not you know, uh not what
Auburn has been doing. Higher three coaches on the payroll.

Speaker 2 (19:03):
I mean yeah, and one of them, just trolls, is
still on Twitter or x whatever it's called. But you know,
I mean, but they're you know, they're looking at trying
to cut a lot of the government spending. You know,
I'd see Elon Musk all the time.

Speaker 1 (19:13):
It is great. Yeah, I think it needs it for sure.
We need to stop giving all this money to every
freaking country that's out there.

Speaker 2 (19:21):
You know, you'd think you'd think there's ways to clean
it up, right, and so, but I do think that
they are going to push that the rates come down
even more. I've reading something today, you know, or the
other day, and now they're already going back. Now they're
going back and saying now they're more confident there will
be at least three cuts, if not four, in twenty

(19:42):
twenty five from the Fed funds. That we're about eighty
three BIPs off, and so three price cuts at twenty
five would still not get us where we need to be,
so we'd be short, a little bit short. So we
really need four rate decreases in twenty twenty five to
get to where our target FED Funds rate needs to
be to balance everything out. And so but then then

(20:03):
you read stuff they're gon do maybe they'll go and
do two next year now, And then then that was
what two or three days ago after the FED meeting,
and then there was a lot of knee jerk reaction
to that, and so you know it's gonna be me.
It just shows though you just never freaking know what
all is doing. Such a moving target, and it doesn't
take but one thing here to throw all five positives

(20:24):
or vice versa. So you know, we're we tried to
do the best we can looking at it and keeping
up with it. You know, you were looking at the
ten year Treasure, see what it was doing earlier. I'm
constantly looking at it and kind of get a feel
for it, and you feel like you're getting the oh
I got oh okay, I got to beat on this.
I feel real good about some of the news coming out,
some stuff I've read, and blah blah blah. And then
all of a sudden, something else, one small thing that

(20:44):
you didn't put into the equation happens on a news
cycle and all of a sudden it goes completely the
other way, and you're going like, well, that one caught
me off guard. But that's just the industry, not just
you know me personally. I listened to people that do
this for a living, like just watch these markets and
they get it wrong all the time, and uh, you know,
so you just never know what the really the public

(21:04):
opinion or polls or tone is going to be and
how they're going to react to different stuff. So it's
this has been interesting. I mean, it goes back to
tween twenty four being crazy. I mean, just that part
has just been It's been one of the more difficult
years to try to figure out what the heck's going
on with it, just because it's been all over the place.

Speaker 1 (21:23):
I had a buddy of mine reach out to me
this week and he was like, he goes, he goes,
I finally figured it out, and I was like, would
you figure out and he goes, uh, he goes. Basically,
if I want to know what the interest rate is,
I can look at the ten year treasury and add
three and I go, you're actually not too far off,
my friend. It's probably more like add two point seventy five.

(21:46):
But yes, you know wherever you got that information, and
you're definitely in the ballpark. And I think historically it's
really been you know, ten year treasury plus one point
seventy five. But guess in the last few years they
added in a percent of risk yep, So you know,

(22:07):
at what point do they remove that risk factor? Because
rates should be theoretically a percent lower than they are
right now.

Speaker 2 (22:17):
They should be, and I think that's what it goes
back to.

Speaker 1 (22:21):
All that you get choked up about talking against.

Speaker 3 (22:25):
Just get the rates lower.

Speaker 2 (22:26):
My kids need it, and I'm just kidding us. They uh,
it's what we're talking about. I just lost my whole
train of thought. I almost choked to.

Speaker 1 (22:36):
Death and having that that one extra percent as a risk.

Speaker 2 (22:40):
Yeah, and that goes back to what were they've They're
saying that we're we're behind, and that's where the Fed
funds rates and everything. It's all behind a couple of
years from when they should have started moving down and
so but all those things are triggered by it, and
we're definitely got some uh, some extra cushion on top
of that margin that we don't want. We need to

(23:00):
get it back down to. Yeah, in the two too,
because honestly, the risk, the risk is lower than ever
with all the different ways that it's packaged and underwritten
and everything else. So your actual risk of your mortgage
backed securities are probably is. It's secure as they've ever
been with all the different pools and the way they've
structured it.

Speaker 1 (23:16):
Now, speaking of the mortgage backed securities, do you think
that the government will come back and start buying more
mortgages and that might help a little bit of easing.

Speaker 2 (23:25):
I think so, But again they've got to figure out
where they're going to cut first before they start buying
other more. I mean, even though this is an asset,
and note that that's a bond, that's an investment, they're
also got to find a lot of things to cut
before they start pumping in another you know, big billion
billions and billions, tens of billions of chunks into buying
mortgage backed securities.

Speaker 1 (23:42):
Well, if you're in the market for a loan, Bradsmith
Loans dot com and then also for a house Gustygoulisgroup
dot com. Hey, we're up against sop of the hour.
Y'all stay tuned, uh, Baltbard and Sold will be right back.
Welcome back to Bob Bart and Soul. Thank you again

(24:04):
for joining us each and every week right here on
one oh five point five and uh Brad Smith bradsmithlans
dot Com, cross Country Mortgage, hanging out with us and
we've got some new listenings this week, Brad that we're
going to talk about. And I guess so we're going
to put John on the spot and have John see

(24:24):
if he can beat me this week.

Speaker 3 (24:25):
What do you think?

Speaker 2 (24:25):
I think it'd be a great way to in twenty
twenty four?

Speaker 4 (24:28):
You know, I second that it would be a great
way to do in twenty twenty four? Not gonna happen.

Speaker 1 (24:31):
Should I should? I should I give a little bit
of leniency to John this week.

Speaker 2 (24:36):
I've told you, I've told y'all we need to be
we need to be playing hire lower. Gusty gives the payment,
John says, hire or lower?

Speaker 3 (24:43):
You want to go for that?

Speaker 1 (24:44):
This week?

Speaker 4 (24:44):
John sure gives me fifty to fifty shot of you
know getting it?

Speaker 3 (24:48):
It really does?

Speaker 2 (24:49):
I mean, and you're usually you've got it now to
where you're going to be close, but sometimes you know
you're so instead of him trying to hedge against what
you're saying, say, is it? I think I think we
should have got a written down higher love now.

Speaker 4 (25:00):
But with mine he's always going to get it, because
usually I'm off by a factor of ten on a
lot of my or I'm dead on it, but usually
I'm off by a factor of ten.

Speaker 1 (25:07):
Oh so I guess, well, why don't we do this?
Why don't I just you get the number? And then
he goes higher, lower, lower on all of them. And
then and then if if the actual payment was a
higher than yours and he went wrong, and if you
win that round.

Speaker 3 (25:24):
Okay, is this gonna be my Christmas present?

Speaker 1 (25:27):
No, I'm not giving it to you. Believe me, I am.

Speaker 2 (25:30):
I'm not.

Speaker 1 (25:30):
I'm not gonna be lenient on this. Like I'm gonna
I'm gonna do my thing. And you've gotta you've got
to actual I've got rid like if you if you win,
you're gonna win fair and square.

Speaker 3 (25:39):
How about that?

Speaker 2 (25:40):
All right?

Speaker 3 (25:40):
Sounds good? Okay?

Speaker 2 (25:41):
All right?

Speaker 1 (25:42):
Our first new listing of the week is in Penson, Alabama.
You know that's where bo Nix is from. Yeah, the
old Denver Broncos quarterback having a stellar year.

Speaker 2 (25:54):
Yeah, I mean it's that's been pretty cool to watch
some of these rookies this year. But he's having it.
He had a pretty good night last night. They were
up for a while and then I think they ended
up giving it back.

Speaker 1 (26:03):
You know, if it wasn't for Jaden Daniels, he might
be he would have been the rook of the year
the year. Yeah. Uh so, so if you want to
move to Penson and you know, be a part of
that Friday night lights out there. Fifty four eighty three
Fawcet Road, Fawcet As with two t's. Fifty four eighty
three Fawcet Road, built in nineteen seventy six, three bedrooms,

(26:23):
two bass, eleven hundred and forty eight square feet. It's
on a third of an acre lot. We're asking one
eighty nine to nine. This one has been recently renovated.
It's got granite countertops, it's got stainless still appliances, and
even has a couple of storage sheds at this property.

Speaker 3 (26:43):
Uh.

Speaker 1 (26:44):
This listing is courtesy of Graham Reesberg. So, Graham, congratulations
on your new listing.

Speaker 2 (26:50):
One eighty nine nine nine nine. All right, so we
kind of we didn't really go through the rules because
we kind of changed him on the spots. You all
heard it live that kind we kind of changed it.
So Gussy's gonna give the purchase price, which has already
done on one eighty nine to nine. And then I'm
going to kind of give him an idea of a
down payment a potential buyer might make. And then Gussy
is going to guess the thirty year fixed mortgage payment

(27:11):
with just the principal interest. No s crows, no am I,
none of that kind of stuff. And for today, for
the first time, John Mounts will be guessing if the
actual payment that I have written down is higher or
lower than Gusti's.

Speaker 3 (27:24):
We're making history here today.

Speaker 2 (27:26):
We are history. If you need to pay over, if
you need to pull over in your cars, I don't, don't,
don't have a wreck. This craziness going on today.

Speaker 1 (27:34):
All right, Well, so how much down we got on
this one? We're putting twenty percent down? Twenty percent down?

Speaker 2 (27:40):
Wow, twenty percent down, purchase price of one nine nine.

Speaker 1 (27:44):
Okay, man, all right, twenty percent down?

Speaker 4 (27:52):
All right?

Speaker 2 (27:55):
Watch Gussy have some of his worst guesses of the year.

Speaker 1 (27:57):
I now allowing right down, dude, all right, eleven seventeen.

Speaker 2 (28:07):
Eleven seventeen from Gusty eleven seventeen, John, is the actual
payment that I have written down of my calculations higher
or lower than what Dusty's guess was.

Speaker 4 (28:19):
So that's actually the exact price in my own house,
although I financed it when the rates were lower, and
that's higher than my current mortgage payment, so I'm going
to say lower.

Speaker 2 (28:29):
John's lower. The actual payment was one twenty three dollars.

Speaker 4 (28:38):
Like I said, we just got to pick ones that
are the same price as my house and then we're good.

Speaker 1 (28:41):
I think we're on there. Yeah, all right, we're close.
The next new listing of the week is in the
Roebuck area and the Biscayne Highlands neighborhood six twenty four
Barclay Lane. This one is three bedrooms, one and a
half baths. It's thirteen hundred and twenty eight square feet
on the main level. It's another seven hundred and twenty

(29:03):
eight square feet finished in the basement. It's also got
a two car garage. And this listing is courtesy of
Alita Piedra. So, Alita, congratulations on your new listing.

Speaker 2 (29:17):
Five percent down and it's still agusty because you've got
to give the payment, I know.

Speaker 1 (29:23):
Yeah, yeah, okay, well.

Speaker 2 (29:32):
Many and if you get if you get it exactly right.

Speaker 1 (29:38):
Then you went, well, yeah, nine sixty and I'm just kidding.
I'm gonna go with twelve of seven twelve O seven.

Speaker 2 (29:49):
Twelve O sun.

Speaker 3 (29:50):
What was he asking? Press again?

Speaker 2 (29:52):
Two hundred thousand, five percent down.

Speaker 3 (29:59):
M hm. That still feels high and just a bit touch,
but it feels a little high to me. So you're
gonna go with lower. So I'm gonna go with lark Okay,
thank you, Sorry for.

Speaker 2 (30:12):
I didn't want to jump the gun waiting.

Speaker 3 (30:14):
I'm going to be high too.

Speaker 2 (30:16):
I didn't want to go Is this your final answer?
I'm gonna need you to say it. Yeah, Yeah, you
must say lower.

Speaker 3 (30:22):
Lower final answer.

Speaker 2 (30:23):
The actual payment was one thousand, two hundred and seventy
nine dollars. Gusty gets around two. I like this one selfishly.
It's fun.

Speaker 1 (30:38):
Oh man, hey. Our next new listing is in Irondelle
in uh Crystalline Holiday Gardens. This is at eight oh
six Danton Lane. This one is five bedrooms, two and
a half baths, built in nineteen seventy nine. It's two
thousand and seventy two square feet on the main two levels.
Another finish basement of six hundred or finished square footage

(31:01):
of six hundred and eighty eight square feet in the basement.

Speaker 3 (31:06):
It's got a.

Speaker 1 (31:07):
One car garage, and we are asking three hundred thousand,
three hundred thousand thousand.

Speaker 2 (31:15):
On the dot.

Speaker 1 (31:16):
And this listing is courtesy of TJ Cunningham. So, TJ,
congratulations on your new listing.

Speaker 2 (31:25):
Three hundred thousand dollars, three hundred ten percent down. Mm hm, gusty,
oh man, this is this is the rubber match.

Speaker 1 (31:37):
Yeah, for all the marbles, for all the marbles.

Speaker 2 (31:42):
Okay, three hundred thousand, our purchase price ten percent down?

Speaker 3 (31:46):
Okay, Well man, all right, what what am I gonna do?

Speaker 1 (31:56):
What am I gonna do?

Speaker 3 (31:58):
No pressure?

Speaker 2 (32:00):
No, right, carried the two.

Speaker 3 (32:02):
I'm gonna swear that again.

Speaker 1 (32:06):
I ten percent down.

Speaker 2 (32:10):
H I like this different pressure. It's putting out you
because you're told, because you're trying to be a little strategic.
You're like, if I get if I get to this
is that's the belaboring going on. I wish everybody could
see the sweat of the beads of sweat.

Speaker 1 (32:31):
You know, two thousand sixty one dollars.

Speaker 4 (32:44):
To me, twenty sixty one dollars. I'm not gonna I'm
not gonna break my uh my streak here. So I'm
gonna go I'm gonna say that's a little too high.

Speaker 2 (32:53):
I'm gonna go lower. The actual payment was eighteen and eighty.

Speaker 3 (33:01):
High going out. I'm going.

Speaker 2 (33:05):
Lower.

Speaker 3 (33:06):
Gets the w record books. Let's go right now.

Speaker 4 (33:10):
Vegas odds are just completely all messed up.

Speaker 2 (33:13):
If this room was bigger, I'd be doing lapse.

Speaker 3 (33:18):
That was fair and square, Like, that's pretty okay.

Speaker 2 (33:20):
I'm not something. You got to keep it that way,
but I just wanted to it that way.

Speaker 1 (33:24):
Hey, that was fun. I enjoyed it. I don't enjoy losing,
but I enjoyed it.

Speaker 2 (33:29):
But some of the control over that point because all
of a sudden anyways, Yeah, it definitely puts me in
a little bit more of a disadvantage for sure. Levels
the play.

Speaker 1 (33:42):
Congratulations John, Where do you go?

Speaker 3 (33:44):
Where's the post it note?

Speaker 2 (33:46):
You know you might get like you get to keep
my notes?

Speaker 1 (33:49):
Yeah, you get a subscription to the dominant Napkin Dominoes.

Speaker 4 (33:53):
There do this right here? Is is radio station Stationary
the Dominoes.

Speaker 1 (33:59):
Naw there there it is behind the scenes, which I've
been eating dominoes for man that.

Speaker 3 (34:04):
Was left over from election night. Well, man, okay, you
should come up.

Speaker 2 (34:08):
On a lot of pizza the net.

Speaker 1 (34:10):
Well, you know, yeah, if you invite me, I may come.
All right four years from now right here, all right,
there we go. Hey, Mark's on the calendar, God will
And I mean, are we going to be recording live
or is it like live throughout the auction coverage?

Speaker 4 (34:25):
It's live live. I want to be I want to
be in minus the eight second profanity delay. It's as
live as it gets.

Speaker 1 (34:31):
There you go, there you go. Is that an FCC
mandate eight second?

Speaker 3 (34:35):
No?

Speaker 4 (34:36):
No, we just If we don't have that, then you're
without a net. If somebody curses some of them, usually
it's the hopest actually results in the use of they delay.

Speaker 3 (34:44):
Yeah, I have stories.

Speaker 1 (34:45):
Oh my gosh, dump it, dump it. That's too funny. Hey,
we've got some I know where we've been working on
some coming soons and we've got I'm not going to
release it just yet, but we're working on a bunch
of stuff all throughout the city. I'm really excited about
some of the listings that we've got coming up. Like
I went by this week and I was seeing some

(35:08):
painting going on at one listing, and so you know where,
We've got some cool stuff that's coming up. We do
have a couple of VP by our needs. So we've
got some investors that are out and about. We've got
people that are looking for tenant occupied rental homes. Okay,
We've got some folks that are looking for truly multi

(35:29):
family apartments. We've got somebody looking up to three hundred
and seventy five thousand, and they're looking for a three bedroom,
two bath with a finished basement, a flat lot, and
they're looking in the either the Trustful Pension Leads area
or even open to Kimberly or Warriors, so they're kind

(35:49):
of like north or East. We've got somebody looking up
to six hundred thousand a three bedroom, two bath with
main level living in Liberty Park, Vestavia, Brook, Highland or Irondale.
I've got somebody looking in Mountain Brook or Vestavia up
to seven hundred and twenty five thousand dollars. And I've

(36:13):
got a couple of people that are looking in the
Hoover area up to three point fifty so, uh and
then I kind of always have people looking at homewood,
So if you got something on homewarning, holler at me. Uh.
So that is what we've got on our VP Buyer needs.
And guess what time it is.

Speaker 3 (36:35):
It's just ceremonial time.

Speaker 2 (36:38):
That's right.

Speaker 1 (36:38):
So we talked about Alita earlier.

Speaker 2 (36:41):
Did you notice John's voice after a victory just then?

Speaker 3 (36:44):
So I'm doing it's so good?

Speaker 2 (36:48):
All right? Sorry?

Speaker 1 (36:48):
Well no, he must have listened to some weird al
Yankovic this morning on the way to every morning.

Speaker 2 (36:54):
What are you talking about? Say?

Speaker 1 (36:55):
He loves he loves some weird ol So, so this
one is for a Leada. We talked about Alita had
a new listing, so I wanted to give another shout
out to Alita. Alita is wonderful to work with in
the buying and selling process of our houses. We have
sold two houses and bought our primary residence with her.
We highly recommend her to anyone who's looking to buy

(37:16):
or sell their houses. So appreciate the opportunity. Thank you
so much, and Alita, congratulations. I mean, it's it's nice
to to have a another five star review. She's she's
been on a roll. She has been on a roll.
And and let's see, let me let me who am

(37:39):
I going to pick on? I think I'm gonna pick
on Ashley today? And the reason I almost Joe Ashley
is Ashley had her best month ever in November. Yep,
and she had her best best year ever.

Speaker 2 (37:53):
That's great.

Speaker 1 (37:54):
So super super happy for Ashley. Stags on her team
and uh and this person said, Ashley is great. She
is really customer oriented and patient. She is very responsible
and reliable and strategic. I'm really happy to get this
house with her great help. My whole family loves it
so much. Everything is perfect. So congratulations on your new

(38:17):
home and Ashley a great job. And congratulations on another
five star review.

Speaker 3 (38:27):
All right, we're pegging out the meters by the way.

Speaker 2 (38:29):
Every time we do that.

Speaker 1 (38:30):
Oh yeah, like somebody's like, oh gosh, I mean they're
probably on the radio, Like God, these guys are loud.

Speaker 2 (38:36):
So I've never been called wild.

Speaker 1 (38:38):
Yeah. Well, when you have this like microphone right in
front of your face, you can get a little loud
in here. So anyways, I like these five star reviews
and you can hear them every single week right here
on Bob barn and Sualt. Hey, we're going to go
to break y'all stay tuned. We'll be right back. All right,

(39:04):
back ball Barn and Sold. You know, Brad Bradsmith Loans
dot Com cross Country Mortgage. By the way, you know,
you can always go and get your value at Gustygoulisgroup
dot com for your house, and you know, we'd love
the opportunity to work with you.

Speaker 2 (39:22):
But hey, you can go to Brad Smith Loans and
do it too in compare and soon if you would,
if you get different, different answers.

Speaker 1 (39:28):
We we've been we've had this show on since twenty
twenty and we actually started off as a thirty minute show,
grew it to be in an hour long show, and
we're kind of retooling some things for twenty twenty five
and we're going to turn it back into a thirty
minute show. So we've had a lot of awesome guests

(39:49):
through the years. We're probably gonna have less guests, right,
you know, in twenty twenty five. That's not to say
that we won't, right, but we're we're gonna bring it
down to thirty minutes. We're gonna give you the market update.
We've got to figure out the game and and see
if we still want to continue to have the game.

Speaker 3 (40:09):
What do y'all think, John, I mean.

Speaker 4 (40:11):
Based on today, how to had today's gone a different way,
I would have said no, But now yeah, sure he's
in for high or lower this flip a coin thing.

Speaker 2 (40:20):
I like this.

Speaker 3 (40:21):
Yeah that's right.

Speaker 1 (40:22):
Yeah Vegas odds maybe Vegas odes right, so you know,
but it's not it's I feel like it's gonna give me,
Like planning a one hour radio show on a weekly
basis is a little bit more stress than than people
probably think, you know. I mean, I can't even imagine,
like John, what y'all do with somebody plan a three

(40:45):
hour show every day? Like I can't. I mean, a
one hour show is a lot a three hour show.

Speaker 3 (40:51):
Dude.

Speaker 2 (40:52):
If the one hour shows when we don't have guests
are are listen, I can sider and talk about anything
all the time. But as far as you what you're
getting on the other end into this just listening, you know,
sometimes it's a little bit more. First you'd be like,
this is what I've tuned in for. Maybe not, but so,
I mean, I I think it helps the flow of everything,
you know, going to thirty minutes, So I think it
makes sense.

Speaker 3 (41:12):
Yeah, I'm excited about it.

Speaker 1 (41:14):
So I feel like it's gonna give me a little
bit of a renewed energy, and you know, I think
it'll allow me to be like even more prepared since
it's you know, focused, Yeah, condensed, because I only have
to worry about twenty five minutes a seat of fifty minutes.

Speaker 3 (41:31):
We do a cooking segment.

Speaker 1 (41:33):
Do you have do you have a stoven here?

Speaker 3 (41:35):
We could get one, you know, Bunsen burner. I can't
stove whatever.

Speaker 1 (41:39):
I don't know what kind of value that would bring.

Speaker 3 (41:41):
But I don't know either.

Speaker 2 (41:42):
You know, well, I like to cook.

Speaker 3 (41:45):
You know. We could go to one of the houses
you're listing and you know.

Speaker 2 (41:47):
Use the kitchen.

Speaker 3 (41:48):
Yeah, we could.

Speaker 1 (41:49):
We could live from Fosset driving Penson with two T's
with two t Have.

Speaker 2 (41:55):
You ever have you ever brought in somebody that's like
one of your current customer clients? Yeah, and talked and
talked about like kind of what they're what they're looking
for and kind of going through and everything.

Speaker 1 (42:04):
Yeah.

Speaker 3 (42:05):
Yeah, yeah, we have that on that.

Speaker 1 (42:06):
Yeah, but I don't think it's you know, it's probably
not a bad idea to kind of, you know, think
about you know, not everybody listens every single week, right,
so you know there's always new people that are listening
to the show, and then we have that extended reach
through our podcast that's on the heart radio app. So,
I mean we're always growing and gaining new followers and

(42:26):
people listening. So but it's not like everybody's a you know,
a dedicated listener on a weekend basis, so like if
you're if you're coming up, like you know, and then
also changes like that, I mean the market. You know,
we started the show, the market was completely one thing,
and now it's you know, one hundred and eighty degrees.
It's a whole different world, a whole different world. Yeah,

(42:47):
lots of the whole different world period period, That's what
I'm saying, not even just in this small bubble. Yeah,
so you know, it's it'll be it'll be a welcome
chain for me. And so I'm excited about that, and
I hope you all continue to listen to our show,
just a little bit more condensed version.

Speaker 2 (43:08):
And that is the time. It's going to be somewhere
in that same thirty minute window.

Speaker 1 (43:12):
Yeah, I think we're I think we're going to start
at eight am.

Speaker 3 (43:17):
So I don't know if it's confirmed or not, but
that's what i've heard as well.

Speaker 4 (43:21):
Okay, see, since I make the schedules, i'd know boom
all right.

Speaker 1 (43:24):
Eight o'clock eight o'clock on Sunday's Baby, Yeah.

Speaker 3 (43:27):
The exact eight o two following Fox News.

Speaker 2 (43:30):
Oh okay, that is that going to be uh January fifth?

Speaker 1 (43:35):
Yeah, yes, January fifth, all right, eight date thirty.

Speaker 3 (43:38):
Yeah, that's right, all right.

Speaker 1 (43:41):
I'll be uh we'll be recording that a couple of
days early because I'll be listening from New York City,
New York City January fifth and taking the fam up there.

Speaker 4 (43:51):
The iHeartRadio app. You know now they've retooled it. You
can create presets on there. You can create a preset
for an actual podcast, so you can make your number
one pre set the Bot Bart and Sold podcast button
open your app. It will open up every time to
play Bot bar and Sold. Oh man, you so desire.
Oh I like that, you know, I I love listening

(44:12):
to myself. You know it'll and then my wife would
be like, uh no, but uh yes. For all of
your local Birmingham, Alabama real estate and mortgage knowledge, Bob
barn and Sold is the place the number one radio
show and number one real estate goes in the state.

Speaker 3 (44:32):
Baby.

Speaker 2 (44:33):
You just never know what you're gonna learn from this show.
You know, we drop all kinds of good stuff.

Speaker 3 (44:38):
I have to check.

Speaker 4 (44:38):
I don't know what to do a mobile though, but
at least for the top half of the state anyway.

Speaker 3 (44:42):
Yeah, well, you know it's better than that.

Speaker 2 (44:45):
It's better, bigger.

Speaker 3 (44:47):
I'm still claiming it.

Speaker 2 (44:49):
So we got a few more minutes left. Did you
want to touch on on on a Christmas? Christmas?

Speaker 1 (44:53):
So I went to a Christmas function this week and
these folks, it was a a law firm out of
California that was in town. They were supporting one of
their local attorneys that works remote for them, and and
I somehow got an invite to this event and they
they rented out Little Betty Steakhouse in mountain Brook. Yeah,

(45:18):
well that is it perked my ears. I was like,
I literally don't know if I'm going to know anyone
at this holiday party. But I walked up into Little
Betty Steakhouse like like, I am going to meet everybody
and I'm going to have a blast. So I walked
into a Little Betty Little Betty Steakhouse. I was I

(45:39):
was an hour let's see, an hour hour and a
half late because my oldest had a basketball game in
which we won. By the way, let's go that's great.
Job trip and uh. So I walk in. Everybody's sitting
down and I'm like, oh, this is really like awkward,
but it's okay. So I walk in and I'm like, oh,

(45:59):
what table I sit out. I literally don't know any
any of these folks until somebody jumps up and it's
like gusty oh, and I was and so I knew him.
I was like, oh, thank god, somebody, thank you. Oh
I was hoping you'd be here, and I'm like, well, RSVP'd,
so you probably knew I was coming. So anyways, I

(46:19):
talked with them and they had just got done with
like their appetizers, thank goodness. So I got in my
order luckily, you know, like my my steak came in
at the same time as everybody else's. They did. They
they did some singing. They had, I guess some of
their their staff were very gifted vocalist, and so they
literally did some like Christmas Carol singing.

Speaker 3 (46:41):
And I tell you what. They rented out.

Speaker 1 (46:44):
This whole place for like I don't know, thirty five people.

Speaker 2 (46:48):
Wow, that's what.

Speaker 1 (46:49):
And so I'm telling you they spent some money. They
spent some money.

Speaker 2 (46:55):
How was the steak?

Speaker 1 (46:56):
You know, I will say that I was not as
impressed as I thought I was gonna be. Gotcha, gotcha,
I did not first time there. It was my first
time there.

Speaker 2 (47:06):
I've seen it and been by there a couple times.

Speaker 1 (47:08):
I've never been in there, but you know, but I
will tell you the sides. I had their Brussels sprouts,
oh my gosh. And then I had one of their
desserts that was the Tara masou and and I think
that was the second best terror Masoux I've had in town.

Speaker 2 (47:23):
Oh wow.

Speaker 1 (47:23):
Number one's La Fresco. Oh best terror Masoux I've had
in town, bar none. But overall I'm starving, Like you know,
it was cool. That was kind of like my last
you know, holiday, kind of kind of shindigs.

Speaker 3 (47:40):
Anyways.

Speaker 1 (47:41):
Yeah, well so we'll wrap it up in his show.
Merry Christmas, Happy Holidays, Happy New Year. We'll see you
next year. Thank you, John, thank you Brad, thank you
for your help on the show. All you listeners, we
appreciate you listening. We'll catch you next time in twenty
twenty five. Go