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. And the news of the week is rates
continue to uh to be looking in a positive direction
for us, so really excited about that. We're gonna be
talking a little bit later on uh with what's going
on with interest rates, what's going on in the real
(00:20):
estate market with Brad Smith of Cross Country Mortgage bradsmithlans
dot com. Welcome to the show too. Hello, it's great
to be here. Yes, yes, full week of school in session,
which is nice. I know Mountain Brooks started this past week,
so uh. I think all the other schools and Jefferson
(00:41):
Shelby County started, you know, a little over a week ago.
I didn't realize didn't start the same time. Yeah. Yeah.
So some of the folks at the gym that I
work out with, we were like, hey, you know, we're
excited about school starting. They're like, yeah, we don't start
till next week. And I'm like, good lord, let's get this. Yeah. Yeah,
so I know that they started this past Monday, so gotcha.
(01:02):
I'm sure that they are excited. And and man, we're
gonna have football, We're gonna have sports where I mean,
we had flag football, you know, tryouts over this past
week for both Trip and Max and uh, you know,
it just does not slow down.
Speaker 2 (01:19):
It does not and a matter of fact, it speeds up. Yeah,
you know, it's all it's only gets faster. So it
is crazy to think we're back at this point of
the year, because this is the reason I say that.
I mean, this is really the fastest time of the year.
I mean, this is when it football season. It rolls
and we're in the holidays, and I mean it.
Speaker 1 (01:35):
Is flies by. So you can be heading to Auburn
for a few games. I don't know, maybe I know
we'll had to Bama for a few games. Yeah, not
as much as typical.
Speaker 2 (01:45):
It is gotten to where it's just so much more
work to go to games, and Auburn's is not as
easy to get to his Testcalusive from Birmingham. I mean,
it's more of a you know, it's easier just to
run to tescaloosion back than it is Auburn, just from
the distance standpoint. So we may, you know, we'll judge
how the season go and and kind of go from there.
But maybe we'll make it to a game or two.
Speaker 1 (02:02):
Yeah, yeah, there you go, There you go. Well, all right,
well cool, Well, I'm excited about football, but I'm also
excited about the real estate market. And I'll tell you
we had a we had a busy week with real
estate time. We had nine homes to go under contract
over the past week, so I got some shout outs.
So Kyle bedgood, three homes under contract this past week.
(02:25):
Kyle's in fuego. Tim Lance, Well, I think actually Tim
beat Kyle this past week. Four homes under contract. And
then Brianna Green. Uh and and I don't I can't
remember if I said his last name, Tim Lance. He
works with a lot of our investors. Brianna Green with
(02:45):
a contract, John Michael Brandon with a contract, Garrett Messer,
and Freda Whitley with contracts. So actually eleven contracts this
past week. How about that? Keep them coming? Very good,
very good. Yeah. So we've got a couple of new
listings this week. We have a bunch of open houses,
six open houses to be exact. So I think we
(03:06):
need to just like go ahead and jump into the
mortgage game. Let's do it.
Speaker 2 (03:10):
Let's do it, all right, the rules of the game. Yeah,
if you have this your first time, or you've listened before,
but just needed a little refresher.
Speaker 1 (03:17):
Gus.
Speaker 2 (03:17):
He's gonna go through the open houses they've got today.
He's gonna give all the descriptions, location, all that great stuff,
and all the good details. At the end, he's going
to give us the list price of that home, which
is the most important thing that we need. I will
then give John Mounts and Gusty our potential down payment
that a borrow may make, and then they will take
their best guestimate on the monthly thirty year fixed payment
(03:37):
of just the principle and interest. So I mean now,
I mean just time to time to get some properties going.
What you got, Gusty?
Speaker 1 (03:45):
All right, well, let's talk about our first new listing
of the week, which is also going to be opened
this afternoon from two to four. This is in Bluff
Park and I really like this house because I flipped
it twenty twenty Rockland Drive. This is in Hoover. It's
in the Bluff Park Elementary School district and Hoover. It
sits on almost half an acre point four to six
(04:05):
to be exact. It sits directly across from Shades Crest
Baptist Church, right beside the student Life Center. And this
one is an all one level built in nineteen fifty five.
Also has a two car garage a little almost seventeen
hundred square feet. And I'll tell you what we have
renovated it. I mean pretty much had to gut this
(04:28):
house and I'm just thrilled with how this one turned out.
So I'm talking about new electrical, new plumbing, new kitchen,
new countertops, new appliances, new water heater. Luckily, the HVAAC
was put in last year, so I didn't have to
worry about a new one this year. New interior paint,
(04:49):
new xterior paint, new flooring. The bathrooms are basically brand new.
I mean, we really did this one right. Loved this
house super venient between Shades Crest and Park Avenue and
the Bluff Park area. And I'll tell you what, even
if you just like houses and maybe not be interested
in buying right now, this is a cool one just
(05:10):
to see. I wish I need to I need to
put together like a QR code with like the what
it looked like previously. Yes, because oh my, I remember
the first time I walked into this place, I was like,
oh what did I do?
Speaker 2 (05:22):
Gosh?
Speaker 1 (05:22):
Yeah, I mean literally I told myself like what did
I get myself into? But the project turned awesome.
Speaker 2 (05:29):
The before and after stuff's always the coolest to me
because like he's like, wow, I mean right, it takes
takes a big visions to get it from one to
the other.
Speaker 1 (05:36):
So three bedrooms and two baths, and we are asking
five hundred thousand, three bedrooms, two baths, and it recently,
I know we're asking five hundred. It actually praised for
six hundred and thirty five thousand. Yeah, So we're going
to review all offers this evening, any and all offers,
and uh, hopefully we got a bunch offers. Yeah, let's
got So we'll see yep. And if you go.
Speaker 2 (05:57):
In there and you offer five hundred and you decide,
did hey, I want to put fifteen percent down on
a mortgage fifteen okay, then your payment would be something
around gusty. You get to guess first. We're going to
go first, fifteen percent down, five hundred thousand purchase price.
Speaker 1 (06:12):
Okay, I'm going to go with.
Speaker 2 (06:17):
Twenty seven fifty twenty seven fifty for gusty.
Speaker 3 (06:24):
Yeah, I feel like it's a little higher, you know,
like my round numbers. I'm gonna say three thousand.
Speaker 2 (06:31):
Three thousand. The actual payment was two thousand, seven hundred
and twenty one dollars gusty within twenty nine dollars hellers.
Speaker 1 (06:40):
I meant to say that one was This listing is
courtesy of Isaac Marvin on our team. So Isaac, good job. Congratulations.
Speaker 2 (06:49):
So when you took all the sales pitches and you
had your listing agents all sit down, did you put
them all through an exercise?
Speaker 3 (06:54):
No?
Speaker 1 (06:55):
I have done that before. Yeah, But with this house,
what we did was he actually I bought this one
at Courthouse Steps as a foreclosure. Okay, So he was
with me when he bought it, and I felt like.
Speaker 2 (07:05):
Yeah, and he's been and he shadowed you and doing
some stuff with you and stuff, so I get it.
I'm just like, all right, three or four, if y'all come,
make me a pitch.
Speaker 1 (07:13):
That's there and I've done that before and it's been fun.
Also next a new listing of the week. It's also
going to be opened this afternoon from two to four.
Come and see me. I'll be there at ten seventy
Stanton Court. This is over in the Cotswolds. It's a
home actually almost a half acre point four eight to
be exact. This was built by Harris Dole back in
(07:34):
twenty fourteen, nineteen hundred and ninety seven square feet, three bedrooms,
two bass. This one is a little bit different because
it's got a personal pool, and this seller is very
detail oriented, has done a lot of upgrades. They're gonna
be leaving all the pool furniture, they're gonna be leaving
like some TVs. They're gonna be leaving like some of
the stuff on the screen porch. It's got a mobile generator,
(08:00):
so he added in a plug and it's like a
not a mobile, a portable right generator. And this one
is just it's it's a very cool house. And so
it's in the city of it's in county, and so
this could be something that could be perfect for young
professional empty nester that maybe have kids or grandkids that
(08:20):
live in Liberty Park. So ten to seventy Stanton Court,
we're asking five forty nine nine, five forty nine to
nine and come and see me between two to four
this afternoon.
Speaker 2 (08:32):
Yeah, that's cool. Five forty nine to nine. We're gonna
put five percent down. We're gonna put five percent down.
That's gonna go to mister John Mounts.
Speaker 3 (08:43):
Five percent down, and this is a little more than
the last one. So I'm gonna say I was high before,
but I'm not gonna go much higher. Thirty thirty one?
Speaker 1 (08:54):
You said how much down? Five percent? M What did
John say? Thirty one hundred?
Speaker 3 (09:06):
You should never check to see what I said, because
that there's no bearing on anything.
Speaker 1 (09:09):
I'm gonna go with thirty two.
Speaker 2 (09:14):
The actual payment was three thousand, three hundred and forty
five dollars. Dusty gets round two.
Speaker 1 (09:21):
Bomb bum bum bomb. All right, Ron, Hey you want John?
Do you want to tell a quick story about you know,
what you heard about our show recently.
Speaker 3 (09:32):
That I was at the Alaman Broadcasters Convention. Yeah, and
somebody came up to me and you might be listening
this morning, which would be great, and said that this
is the show they listened to, and they they hear
me on there all the time, losing to you playing
this game?
Speaker 1 (09:49):
Losing to you?
Speaker 2 (09:49):
Is that is does that what they do? They tune
in to see if you're going to win this week?
Speaker 3 (09:53):
Is that?
Speaker 1 (09:53):
Like? Is that like the draw?
Speaker 3 (09:55):
Well? And I said, well, you know, we could have
an upset, We could have an upset.
Speaker 1 (09:58):
Yeah, And there was recently it was last week, last
last week, last week. Yeah, don't expected repeat it. You
just never know if they just never know. Look looking
good for the for the home team, right, glad to
know this is on you know. Yeah, all right, yeah,
thanks for thanks for listening, y'all. All right, ert Uh,
we've also got opened this afternoon from two to four
in Hayden, Alabama, Hayden eighty four twenty four Highway thirty one.
(10:23):
This one is three bedrooms, two and a half baths. Uh,
two car garage sits on one acre three thirty nine
seven hundred, three thirty nine, seven hundred twenty two hundred
and fifty square feet. This listening is courtesy of John
Michael Brannon. Congratulations John on your listing in Hayden, Alabama.
That's awesome.
Speaker 2 (10:44):
You know, I don't think sometimes people realize how big
a lot is, like you know, you start thinking about
acres and stuff, like a half acre lot, a full
acre lot like that. That's a big yard and big Lotah,
it was really cool.
Speaker 1 (10:53):
This one's got this huge covered front porch, you know,
just like the country living. Yeah's let's do it. Get
your rocker out there.
Speaker 2 (11:01):
This is three thirty nine seven some coffee this do
dad jokes, sit out.
Speaker 1 (11:08):
Stip on all right? Three thirty nine seven, is that right? Yeah?
Speaker 2 (11:11):
Three thirty nine seven, three thirty nine seven, putting ten
percent down, ten percent down. This is this is for
pride purpose, This is for a clean sweep. Okay, ten percent,
ten percent two gee's two g's get them rolls like.
Speaker 3 (11:38):
Those round numbers.
Speaker 1 (11:39):
Yeah, what round numbers to they kind of thirty two? Actually, yeah,
that's not a round number.
Speaker 3 (11:45):
That's a odd And by the way, on this price,
how do you get a price like three thirty nine
seven not?
Speaker 1 (11:51):
I mean, you know, John Michael went a little different
on this one. I don't know.
Speaker 3 (11:55):
The prices are falling. Yeah, they have a ninety seven
kind of price anyway.
Speaker 2 (11:59):
Yeah, when all he gives you a sales price and
you look at the original price and it's like four
cents higher, all he'll do that.
Speaker 1 (12:06):
It's bargain priced. Okay, I'm gonna go with twenty one
twenty one hundred.
Speaker 2 (12:14):
The actual playment was nineteen fifty nine gusty with the
clean sweet up three down.
Speaker 1 (12:21):
That's right, that's right. Hey, we've also got some other
open houses. We've got one in five twenty four Avenue,
z in Birmingham. This is a three bedroom, one bath
with a little over one thousand square feet for one
hundred and five thousand. It's going to be opened this
afternoon from two to four. Go see Tony McDaniels. We've
also got one opening Warrior from eleven to one. John
(12:43):
Michael is actually holding this one open two four fifteen
Thomas Street, so he'll be in Warrior from eleven to one.
He'll be in Hayden from twelve to two. He'll be
signing autographs there and then last but not least, looks
like Ashley Staggs is going to be at three Normandy
Lane and Chelsea. This one is four bedrooms, four baths,
(13:04):
a little over three thousand square feet on almost half
an acre lot for five ninety nine five ninety nine.
She'll be there from one to three today. So got
a quick buyer needs uh, We've got somebody looking for
a single level home with a pool with not too
many stairs up to four hundred and twenty five thousand.
Also have a few folks looking in the Edgewood area,
(13:26):
So if you're considering selling a home in the Edgewood
School district. I've got a couple of people looking, and
I've got somebody that is looking in leads up to
two hundred and fifty thousand that's going to be relocating here.
And then also have somebody that is looking for a
two bedroom condo up to three hundred and twenty five
thousand in the Medical District or May they might even
(13:49):
go downtown downtown. So if you wouldn't mind go to
Gustygilisgroup dot com. You can also call or text two
oh five five four to two nineteen ninety and we
would love to chat with you and potentially put together
a deal off market or on the market, you know whatever. Hey,
guess what time it is. That's right, it's testimonial time. Boom.
(14:16):
I got two today. The first one says Tony did
an excellent job. He showed exemplary knowledge of the Birmingham,
Alabama market as he provided multiple showings for multiple listings.
Mister McDaniels was very friendly and exemplified excellent customer service
when writing up the sales offer. Mister McDaniels was available
for all questions related to the cell of the property
(14:37):
through to closing and presentation of keys to the new home.
I definitely plan on working with mister McDaniels on any
future real estate transactions. Thank you, so congratulations on your
new home, and congratulations to Tony on another five star review.
And this one goes out to Kyle. Kyle bedgodw invaluable
(15:00):
during our moving process. We bought a home with him
as our agent. As well as selling our property. He
made the process extremely simple. As well as being a
text always be in a text away. His response time
was very fast and always helpful. We got a great
selling price for our home and also got a great
deal negotiated for the home we purchase. We tell everyone
(15:23):
we know who is looking to move to give Kyle
a call. So love hearing about that story. Congratulations to
you for selling your house finding a new one, and
congratulations to Kyle on another five star review.
Speaker 2 (15:38):
Like that with my headsets are better tonight today or
if this was just a better run because it was good.
Speaker 1 (15:42):
Two great five star reviews today. All right, Hey, we're
gonna head to break, y'all. Stay tuned. Brad and I
are going to talk a little bit about the mortgage
rates in the market right here on Bart and Soul.
All right, welcome back to Bob Bart and Sold and
Wanted to give you an up date on what we've
been seeing on interst rates and uh, the real estate market.
(16:05):
And so Brad Smith from Cross Country Mortgage is always
in the studio with us each in every week, So
all right, talk to me, let me, let's let's what
are we seeing. Man, It's been a weird week.
Speaker 2 (16:21):
Uh, inflation numbers came in a little higher than expected,
but the markets didn't really respond terribly to it, I think,
so we are getting some of the inflation number data
in now. It's just kind of triggered that to where
the inflation actually you know, I think it was like
a point two percent inspected rate and like it rose
point nine percent on the PPI report on that on
(16:43):
that price Producer Price index. But the uh so, but
the rates have stayed pretty pretty flat this week. So
we're still in the mid sixes. I mean, like six
and a half is six point six two five. There's
there's there's been a little bit of conflicting news from
now the fed chairs who are going back and saying
(17:04):
now they're not you know, some have been saying fifty BIPs.
Then it was almost a certainty twenty five BIPs, and
then fed chair goals became this week and all of
a sudden did a complete one eighty from where he
has been on doing a rate cut to saying that
the jobs look more solid than we thought and with
inflation now he's not even sure that he wants to
do a rate cut in September. But I do think
and from what I see, the markets are already, like
(17:26):
we talked about last week, the markets are already building
in the rate cut for September. So like right now,
what we're seeing is already absorbing and expected twenty five
bip cut in September. So if again we you know,
we did the kind of this announcement all last year.
So when you so then that what that means is
already expecting it. We've already got it built in. The
(17:48):
market's already responding to that because they're not going to
wait for them to You know, if all signs reporting
that are are are leaning that way, and you're an investor,
you don't wait for it to be announced, You get
behind it, go and do it. You start responding to
it without expectation. So but that goes back to we
could see that rate cut in September and nothing happened
(18:08):
with mortgage rates because we're already doing we're already basing
it off of it.
Speaker 1 (18:12):
So if it doesn't get dropped, you think rates will
go up, then.
Speaker 2 (18:16):
I would be very confident that would happen. Interesting and
then and it will also be interesting to see how
the market reacts, is how they leave the meeting and
their and their quotes and kind of notes from the
meeting to know that what we're kind of going to
be looking at for the rest of the year. You know,
we may come out of there with the twenty five
rate cut that's already built in. If we somehow get
(18:38):
some changes and they go to a fifty cup bip cut,
we could see a decrease in mortgage rates, because it's
not that part's not built in yet. But if they
but if they left there and said we went ahead
and did it today, we don't expect to do another
one in October November. We may look at doing one
morning December. Well, rates may go up a little bit.
If they come back out and it feels like we're
(18:59):
going to have at least two more cuts this year
after the September one, and potentially a fifty bit cut
at some point this year, then we'd start building those
in and rates would continue to go down. So right
now we're already I think that's part of the part
of the reason we didn't get the huge shift or
change in rates with inflation not giving us a good
number for mortgage rates to come down, they were already
(19:21):
building in that. We still think we're gonna get that
quarter percent drop in September, so it was a net neutral.
We really didn't have a whole lot of change this week,
so here forecasting for about a month.
Speaker 1 (19:32):
Yeah, I would think that. I think it's third week
of September is when the next meeting is, unless there's something,
you know, just kind of random that pops through.
Speaker 2 (19:40):
Yeah, I think maybe in September eighteenth. I don't know why.
Maybe that's not exactly the date, but somewhere in that.
Speaker 1 (19:45):
Range twenty first eighteenth something. Yeah, Okay, Well, that'll be
interesting to see how that comes along. So if we
got a quarter percent rate cut from the Federal Funds
Reserve rate, then we're looking at probably stay in the same.
If we don't get a cut, we're looking at going
interest rates going up, and then if we get a
(20:06):
fifty bp reduction, then we'll probably see some rate reduction.
Speaker 2 (20:09):
And then and then anything we get different, you know,
between now and then on inflation, employment, whether it's world
economic news, we start getting a better idea of what
the tariffs are actually impacting, so we know what the
short term one time hit for that is, knowing what
the hell it's gonna then flatten back out, so we
could still have some things that would adjust the happen,
but as far as what the Fed's going to control,
(20:30):
we've already kind of got that built in.
Speaker 1 (20:31):
Gotcha, gotcha, gotcha. Yeah, that's gonna be interesting, So we'll see,
we'll see how it shakes out.
Speaker 3 (20:36):
I know it.
Speaker 1 (20:36):
I know having the quarter percent drop on rates has
kind of helped get a couple of people off the
fence for sure. So that's always good to kind of see.
Speaker 2 (20:44):
If we just keep just chicking down a little bit again,
we're not asking I'm not asking for four percent again. Yeah, yeah,
just if we can get into the fives, I think
show we've locked you know again, there's a lot of
things go into We locked one this week that was
right at six percent, so we're we're getting there. So
you can go to Bradsmithlans dot com and you can
go ahead and get the pre qualification process started, whether
(21:06):
you're looking to refile, whether you're looking to to buy,
or just build a plan. A lot of people just
don't know what they need or what they're really their
situation is and need to build a plan. Say hey,
you know, my lease comes up in six months, but like,
I don't know what I'm doing after that. I'd like
to be a buy a house, but I have no clue,
Like what even that looks like. I mean, I don't
have a ton of money in the bank, My credit's okay.
(21:28):
I'm like, well, let's just take a look at it.
And a lot of times it's like, hey, up, I
mean you're good to go now. I mean in shocks people,
or it's hey, you're real close. Like if you if
you do these one or two little things over the
next couple of months, I can preapprove in three months
and you spend the next those last three months finding
something and getting set up and getting in So yeah,
for sure, reach out, let's let's build a plan. Also,
if you're just not sure.
Speaker 1 (21:47):
That's right, Well, we had just you know, talking about
the real estate market, we had an open house in
Helena at our listing last weekend Brookline, and we had
multiple people that showed up to that and then ended
up putting that one under contract. We had multiple offers
on that one and ended up putting that one under contract.
(22:08):
And now we're just getting through the inspection contingency. But
you know, people are out there looking. I mean, we
had both of the folks that came through that open
house were one was looking at relocating from out of
the area being closer to grandkids, and the other one
was in an apartment and they were you know, leases
coming up in the next few months, so one was
(22:29):
probably a year out, one was probably three months out.
But you know, like anything, you got to build that
plan of action because as soon as you find a house,
typically you're going to be three to six weeks to
close on something, and you.
Speaker 2 (22:40):
May, depending where you're looking, you may be competing for
that home. So you didn't have it all ready yea,
and real quickly, I think I'm gonna be interested next
week to kind of hear how all these open houses go.
This week, because it was that first full week back
from school, we've talked about I've got six and all
different price ranges in the areas across the counties. I'll
be real curious to see how that kind of baselines
of what how how good it was across the board
(23:01):
and how many people showed up to kind of get
a feel of what the temperature is out there. I'll
be really interested to hear that those.
Speaker 1 (23:07):
I will have that for us next week. Yeah, and
we'll see how it goes. But yeah, come to We've
got a bunch of open houses, so come and visit
and say hello. You can also as always go to
Gusty gilisgroup dot com. You get a free home evaluation too.
Like it's instant, like within twenty seconds, you'll get a
home evaluation. Just put in your address and uh and
(23:29):
then we'll email you every couple of weeks of an
update on that. So nice little free perk. It's a
it's a Gustament Gusty. Let's go well, I ask one
to to shut her down on custament. All right, thanks
for joining us. We'll see you next time.
Welcome to Bob Bart and Soul. Thanks so much for
joining us. And the news of the week is rates
continue to uh to be looking in a positive direction
for us, so really excited about that. We're gonna be
talking a little bit later on uh with what's going
on with interest rates, what's going on in the real
(00:20):
estate market with Brad Smith of Cross Country Mortgage bradsmithlans
dot com. Welcome to the show too. Hello, it's great
to be here. Yes, yes, full week of school in session,
which is nice. I know Mountain Brooks started this past week,
so uh. I think all the other schools and Jefferson
(00:41):
Shelby County started, you know, a little over a week ago.
I didn't realize didn't start the same time. Yeah. Yeah.
So some of the folks at the gym that I
work out with, we were like, hey, you know, we're
excited about school starting. They're like, yeah, we don't start
till next week. And I'm like, good lord, let's get this. Yeah. Yeah,
so I know that they started this past Monday, so gotcha.
(01:02):
I'm sure that they are excited. And and man, we're
gonna have football, We're gonna have sports where I mean,
we had flag football, you know, tryouts over this past
week for both Trip and Max and uh, you know,
it just does not slow down.
Speaker 2 (01:19):
It does not and a matter of fact, it speeds up. Yeah,
you know, it's all it's only gets faster. So it
is crazy to think we're back at this point of
the year, because this is the reason I say that.
I mean, this is really the fastest time of the year.
I mean, this is when it football season. It rolls
and we're in the holidays, and I mean it.
Speaker 1 (01:35):
Is flies by. So you can be heading to Auburn
for a few games. I don't know, maybe I know
we'll had to Bama for a few games. Yeah, not
as much as typical.
Speaker 2 (01:45):
It is gotten to where it's just so much more
work to go to games, and Auburn's is not as
easy to get to his Testcalusive from Birmingham. I mean,
it's more of a you know, it's easier just to
run to tescaloosion back than it is Auburn, just from
the distance standpoint. So we may, you know, we'll judge
how the season go and and kind of go from there.
But maybe we'll make it to a game or two.
Speaker 1 (02:02):
Yeah, yeah, there you go, There you go. Well, all right,
well cool, Well, I'm excited about football, but I'm also
excited about the real estate market. And I'll tell you
we had a we had a busy week with real
estate time. We had nine homes to go under contract
over the past week, so I got some shout outs.
So Kyle bedgood, three homes under contract this past week.
(02:25):
Kyle's in fuego. Tim Lance, Well, I think actually Tim
beat Kyle this past week. Four homes under contract. And
then Brianna Green. Uh and and I don't I can't
remember if I said his last name, Tim Lance. He
works with a lot of our investors. Brianna Green with
(02:45):
a contract, John Michael Brandon with a contract, Garrett Messer,
and Freda Whitley with contracts. So actually eleven contracts this
past week. How about that? Keep them coming? Very good,
very good. Yeah. So we've got a couple of new
listings this week. We have a bunch of open houses,
six open houses to be exact. So I think we
(03:06):
need to just like go ahead and jump into the
mortgage game. Let's do it.
Speaker 2 (03:10):
Let's do it, all right, the rules of the game. Yeah,
if you have this your first time, or you've listened before,
but just needed a little refresher.
Speaker 1 (03:17):
Gus.
Speaker 2 (03:17):
He's gonna go through the open houses they've got today.
He's gonna give all the descriptions, location, all that great stuff,
and all the good details. At the end, he's going
to give us the list price of that home, which
is the most important thing that we need. I will
then give John Mounts and Gusty our potential down payment
that a borrow may make, and then they will take
their best guestimate on the monthly thirty year fixed payment
(03:37):
of just the principle and interest. So I mean now,
I mean just time to time to get some properties going.
What you got, Gusty?
Speaker 1 (03:45):
All right, well, let's talk about our first new listing
of the week, which is also going to be opened
this afternoon from two to four. This is in Bluff
Park and I really like this house because I flipped
it twenty twenty Rockland Drive. This is in Hoover. It's
in the Bluff Park Elementary School district and Hoover. It
sits on almost half an acre point four to six
(04:05):
to be exact. It sits directly across from Shades Crest
Baptist Church, right beside the student Life Center. And this
one is an all one level built in nineteen fifty five.
Also has a two car garage a little almost seventeen
hundred square feet. And I'll tell you what we have
renovated it. I mean pretty much had to gut this
(04:28):
house and I'm just thrilled with how this one turned out.
So I'm talking about new electrical, new plumbing, new kitchen,
new countertops, new appliances, new water heater. Luckily, the HVAAC
was put in last year, so I didn't have to
worry about a new one this year. New interior paint,
(04:49):
new xterior paint, new flooring. The bathrooms are basically brand new.
I mean, we really did this one right. Loved this
house super venient between Shades Crest and Park Avenue and
the Bluff Park area. And I'll tell you what, even
if you just like houses and maybe not be interested
in buying right now, this is a cool one just
(05:10):
to see. I wish I need to I need to
put together like a QR code with like the what
it looked like previously. Yes, because oh my, I remember
the first time I walked into this place, I was like,
oh what did I do?
Speaker 2 (05:22):
Gosh?
Speaker 1 (05:22):
Yeah, I mean literally I told myself like what did
I get myself into? But the project turned awesome.
Speaker 2 (05:29):
The before and after stuff's always the coolest to me
because like he's like, wow, I mean right, it takes
takes a big visions to get it from one to
the other.
Speaker 1 (05:36):
So three bedrooms and two baths, and we are asking
five hundred thousand, three bedrooms, two baths, and it recently,
I know we're asking five hundred. It actually praised for
six hundred and thirty five thousand. Yeah, So we're going
to review all offers this evening, any and all offers,
and uh, hopefully we got a bunch offers. Yeah, let's
got So we'll see yep. And if you go.
Speaker 2 (05:57):
In there and you offer five hundred and you decide,
did hey, I want to put fifteen percent down on
a mortgage fifteen okay, then your payment would be something
around gusty. You get to guess first. We're going to
go first, fifteen percent down, five hundred thousand purchase price.
Speaker 1 (06:12):
Okay, I'm going to go with.
Speaker 2 (06:17):
Twenty seven fifty twenty seven fifty for gusty.
Speaker 3 (06:24):
Yeah, I feel like it's a little higher, you know,
like my round numbers. I'm gonna say three thousand.
Speaker 2 (06:31):
Three thousand. The actual payment was two thousand, seven hundred
and twenty one dollars gusty within twenty nine dollars hellers.
Speaker 1 (06:40):
I meant to say that one was This listing is
courtesy of Isaac Marvin on our team. So Isaac, good job. Congratulations.
Speaker 2 (06:49):
So when you took all the sales pitches and you
had your listing agents all sit down, did you put
them all through an exercise?
Speaker 3 (06:54):
No?
Speaker 1 (06:55):
I have done that before. Yeah, But with this house,
what we did was he actually I bought this one
at Courthouse Steps as a foreclosure. Okay, So he was
with me when he bought it, and I felt like.
Speaker 2 (07:05):
Yeah, and he's been and he shadowed you and doing
some stuff with you and stuff, so I get it.
I'm just like, all right, three or four, if y'all come,
make me a pitch.
Speaker 1 (07:13):
That's there and I've done that before and it's been fun.
Also next a new listing of the week. It's also
going to be opened this afternoon from two to four.
Come and see me. I'll be there at ten seventy
Stanton Court. This is over in the Cotswolds. It's a
home actually almost a half acre point four eight to
be exact. This was built by Harris Dole back in
(07:34):
twenty fourteen, nineteen hundred and ninety seven square feet, three bedrooms,
two bass. This one is a little bit different because
it's got a personal pool, and this seller is very
detail oriented, has done a lot of upgrades. They're gonna
be leaving all the pool furniture, they're gonna be leaving
like some TVs. They're gonna be leaving like some of
the stuff on the screen porch. It's got a mobile generator,
(08:00):
so he added in a plug and it's like a
not a mobile, a portable right generator. And this one
is just it's it's a very cool house. And so
it's in the city of it's in county, and so
this could be something that could be perfect for young
professional empty nester that maybe have kids or grandkids that
(08:20):
live in Liberty Park. So ten to seventy Stanton Court,
we're asking five forty nine nine, five forty nine to
nine and come and see me between two to four
this afternoon.
Speaker 2 (08:32):
Yeah, that's cool. Five forty nine to nine. We're gonna
put five percent down. We're gonna put five percent down.
That's gonna go to mister John Mounts.
Speaker 3 (08:43):
Five percent down, and this is a little more than
the last one. So I'm gonna say I was high before,
but I'm not gonna go much higher. Thirty thirty one?
Speaker 1 (08:54):
You said how much down? Five percent? M What did
John say? Thirty one hundred?
Speaker 3 (09:06):
You should never check to see what I said, because
that there's no bearing on anything.
Speaker 1 (09:09):
I'm gonna go with thirty two.
Speaker 2 (09:14):
The actual payment was three thousand, three hundred and forty
five dollars. Dusty gets round two.
Speaker 1 (09:21):
Bomb bum bum bomb. All right, Ron, Hey you want John?
Do you want to tell a quick story about you know,
what you heard about our show recently.
Speaker 3 (09:32):
That I was at the Alaman Broadcasters Convention. Yeah, and
somebody came up to me and you might be listening
this morning, which would be great, and said that this
is the show they listened to, and they they hear
me on there all the time, losing to you playing
this game?
Speaker 1 (09:49):
Losing to you?
Speaker 2 (09:49):
Is that is does that what they do? They tune
in to see if you're going to win this week?
Speaker 3 (09:53):
Is that?
Speaker 1 (09:53):
Like? Is that like the draw?
Speaker 3 (09:55):
Well? And I said, well, you know, we could have
an upset, We could have an upset.
Speaker 1 (09:58):
Yeah, And there was recently it was last week, last
last week, last week. Yeah, don't expected repeat it. You
just never know if they just never know. Look looking
good for the for the home team, right, glad to
know this is on you know. Yeah, all right, yeah,
thanks for thanks for listening, y'all. All right, ert Uh,
we've also got opened this afternoon from two to four
in Hayden, Alabama, Hayden eighty four twenty four Highway thirty one.
(10:23):
This one is three bedrooms, two and a half baths. Uh,
two car garage sits on one acre three thirty nine
seven hundred, three thirty nine, seven hundred twenty two hundred
and fifty square feet. This listening is courtesy of John
Michael Brannon. Congratulations John on your listing in Hayden, Alabama.
That's awesome.
Speaker 2 (10:44):
You know, I don't think sometimes people realize how big
a lot is, like you know, you start thinking about
acres and stuff, like a half acre lot, a full
acre lot like that. That's a big yard and big Lotah,
it was really cool.
Speaker 1 (10:53):
This one's got this huge covered front porch, you know,
just like the country living. Yeah's let's do it. Get
your rocker out there.
Speaker 2 (11:01):
This is three thirty nine seven some coffee this do
dad jokes, sit out.
Speaker 1 (11:08):
Stip on all right? Three thirty nine seven, is that right? Yeah?
Speaker 2 (11:11):
Three thirty nine seven, three thirty nine seven, putting ten
percent down, ten percent down. This is this is for
pride purpose, This is for a clean sweep. Okay, ten percent,
ten percent two gee's two g's get them rolls like.
Speaker 3 (11:38):
Those round numbers.
Speaker 1 (11:39):
Yeah, what round numbers to they kind of thirty two? Actually, yeah,
that's not a round number.
Speaker 3 (11:45):
That's a odd And by the way, on this price,
how do you get a price like three thirty nine
seven not?
Speaker 1 (11:51):
I mean, you know, John Michael went a little different
on this one. I don't know.
Speaker 3 (11:55):
The prices are falling. Yeah, they have a ninety seven
kind of price anyway.
Speaker 2 (11:59):
Yeah, when all he gives you a sales price and
you look at the original price and it's like four
cents higher, all he'll do that.
Speaker 1 (12:06):
It's bargain priced. Okay, I'm gonna go with twenty one
twenty one hundred.
Speaker 2 (12:14):
The actual playment was nineteen fifty nine gusty with the
clean sweet up three down.
Speaker 1 (12:21):
That's right, that's right. Hey, we've also got some other
open houses. We've got one in five twenty four Avenue,
z in Birmingham. This is a three bedroom, one bath
with a little over one thousand square feet for one
hundred and five thousand. It's going to be opened this
afternoon from two to four. Go see Tony McDaniels. We've
also got one opening Warrior from eleven to one. John
(12:43):
Michael is actually holding this one open two four fifteen
Thomas Street, so he'll be in Warrior from eleven to one.
He'll be in Hayden from twelve to two. He'll be
signing autographs there and then last but not least, looks
like Ashley Staggs is going to be at three Normandy
Lane and Chelsea. This one is four bedrooms, four baths,
(13:04):
a little over three thousand square feet on almost half
an acre lot for five ninety nine five ninety nine.
She'll be there from one to three today. So got
a quick buyer needs uh, We've got somebody looking for
a single level home with a pool with not too
many stairs up to four hundred and twenty five thousand.
Also have a few folks looking in the Edgewood area,
(13:26):
So if you're considering selling a home in the Edgewood
School district. I've got a couple of people looking, and
I've got somebody that is looking in leads up to
two hundred and fifty thousand that's going to be relocating here.
And then also have somebody that is looking for a
two bedroom condo up to three hundred and twenty five
thousand in the Medical District or May they might even
(13:49):
go downtown downtown. So if you wouldn't mind go to
Gustygilisgroup dot com. You can also call or text two
oh five five four to two nineteen ninety and we
would love to chat with you and potentially put together
a deal off market or on the market, you know whatever. Hey,
guess what time it is. That's right, it's testimonial time. Boom.
(14:16):
I got two today. The first one says Tony did
an excellent job. He showed exemplary knowledge of the Birmingham,
Alabama market as he provided multiple showings for multiple listings.
Mister McDaniels was very friendly and exemplified excellent customer service
when writing up the sales offer. Mister McDaniels was available
for all questions related to the cell of the property
(14:37):
through to closing and presentation of keys to the new home.
I definitely plan on working with mister McDaniels on any
future real estate transactions. Thank you, so congratulations on your
new home, and congratulations to Tony on another five star review.
And this one goes out to Kyle. Kyle bedgodw invaluable
(15:00):
during our moving process. We bought a home with him
as our agent. As well as selling our property. He
made the process extremely simple. As well as being a
text always be in a text away. His response time
was very fast and always helpful. We got a great
selling price for our home and also got a great
deal negotiated for the home we purchase. We tell everyone
(15:23):
we know who is looking to move to give Kyle
a call. So love hearing about that story. Congratulations to
you for selling your house finding a new one, and
congratulations to Kyle on another five star review.
Speaker 2 (15:38):
Like that with my headsets are better tonight today or
if this was just a better run because it was good.
Speaker 1 (15:42):
Two great five star reviews today. All right, Hey, we're
gonna head to break, y'all. Stay tuned. Brad and I
are going to talk a little bit about the mortgage
rates in the market right here on Bart and Soul.
All right, welcome back to Bob Bart and Sold and
Wanted to give you an up date on what we've
been seeing on interst rates and uh, the real estate market.
(16:05):
And so Brad Smith from Cross Country Mortgage is always
in the studio with us each in every week, So
all right, talk to me, let me, let's let's what
are we seeing. Man, It's been a weird week.
Speaker 2 (16:21):
Uh, inflation numbers came in a little higher than expected,
but the markets didn't really respond terribly to it, I think,
so we are getting some of the inflation number data
in now. It's just kind of triggered that to where
the inflation actually you know, I think it was like
a point two percent inspected rate and like it rose
point nine percent on the PPI report on that on
(16:43):
that price Producer Price index. But the uh so, but
the rates have stayed pretty pretty flat this week. So
we're still in the mid sixes. I mean, like six
and a half is six point six two five. There's
there's there's been a little bit of conflicting news from
now the fed chairs who are going back and saying
(17:04):
now they're not you know, some have been saying fifty BIPs.
Then it was almost a certainty twenty five BIPs, and
then fed chair goals became this week and all of
a sudden did a complete one eighty from where he
has been on doing a rate cut to saying that
the jobs look more solid than we thought and with
inflation now he's not even sure that he wants to
do a rate cut in September. But I do think
and from what I see, the markets are already, like
(17:26):
we talked about last week, the markets are already building
in the rate cut for September. So like right now,
what we're seeing is already absorbing and expected twenty five
bip cut in September. So if again we you know,
we did the kind of this announcement all last year.
So when you so then that what that means is
already expecting it. We've already got it built in. The
(17:48):
market's already responding to that because they're not going to
wait for them to You know, if all signs reporting
that are are are leaning that way, and you're an investor,
you don't wait for it to be announced, You get
behind it, go and do it. You start responding to
it without expectation. So but that goes back to we
could see that rate cut in September and nothing happened
(18:08):
with mortgage rates because we're already doing we're already basing
it off of it.
Speaker 1 (18:12):
So if it doesn't get dropped, you think rates will
go up, then.
Speaker 2 (18:16):
I would be very confident that would happen. Interesting and
then and it will also be interesting to see how
the market reacts, is how they leave the meeting and
their and their quotes and kind of notes from the
meeting to know that what we're kind of going to
be looking at for the rest of the year. You know,
we may come out of there with the twenty five
rate cut that's already built in. If we somehow get
(18:38):
some changes and they go to a fifty cup bip cut,
we could see a decrease in mortgage rates, because it's
not that part's not built in yet. But if they
but if they left there and said we went ahead
and did it today, we don't expect to do another
one in October November. We may look at doing one
morning December. Well, rates may go up a little bit.
If they come back out and it feels like we're
(18:59):
going to have at least two more cuts this year
after the September one, and potentially a fifty bit cut
at some point this year, then we'd start building those
in and rates would continue to go down. So right
now we're already I think that's part of the part
of the reason we didn't get the huge shift or
change in rates with inflation not giving us a good
number for mortgage rates to come down, they were already
(19:21):
building in that. We still think we're gonna get that
quarter percent drop in September, so it was a net neutral.
We really didn't have a whole lot of change this week,
so here forecasting for about a month.
Speaker 1 (19:32):
Yeah, I would think that. I think it's third week
of September is when the next meeting is, unless there's something,
you know, just kind of random that pops through.
Speaker 2 (19:40):
Yeah, I think maybe in September eighteenth. I don't know why.
Maybe that's not exactly the date, but somewhere in that.
Speaker 1 (19:45):
Range twenty first eighteenth something. Yeah, Okay, Well, that'll be
interesting to see how that comes along. So if we
got a quarter percent rate cut from the Federal Funds
Reserve rate, then we're looking at probably stay in the same.
If we don't get a cut, we're looking at going
interest rates going up, and then if we get a
(20:06):
fifty bp reduction, then we'll probably see some rate reduction.
Speaker 2 (20:09):
And then and then anything we get different, you know,
between now and then on inflation, employment, whether it's world
economic news, we start getting a better idea of what
the tariffs are actually impacting, so we know what the
short term one time hit for that is, knowing what
the hell it's gonna then flatten back out, so we
could still have some things that would adjust the happen,
but as far as what the Fed's going to control,
(20:30):
we've already kind of got that built in.
Speaker 1 (20:31):
Gotcha, gotcha, gotcha. Yeah, that's gonna be interesting, So we'll see,
we'll see how it shakes out.
Speaker 3 (20:36):
I know it.
Speaker 1 (20:36):
I know having the quarter percent drop on rates has
kind of helped get a couple of people off the
fence for sure. So that's always good to kind of see.
Speaker 2 (20:44):
If we just keep just chicking down a little bit again,
we're not asking I'm not asking for four percent again. Yeah, yeah,
just if we can get into the fives, I think
show we've locked you know again, there's a lot of
things go into We locked one this week that was
right at six percent, so we're we're getting there. So
you can go to Bradsmithlans dot com and you can
go ahead and get the pre qualification process started, whether
(21:06):
you're looking to refile, whether you're looking to to buy,
or just build a plan. A lot of people just
don't know what they need or what they're really their
situation is and need to build a plan. Say hey,
you know, my lease comes up in six months, but like,
I don't know what I'm doing after that. I'd like
to be a buy a house, but I have no clue,
Like what even that looks like. I mean, I don't
have a ton of money in the bank, My credit's okay.
(21:28):
I'm like, well, let's just take a look at it.
And a lot of times it's like, hey, up, I
mean you're good to go now. I mean in shocks people,
or it's hey, you're real close. Like if you if
you do these one or two little things over the
next couple of months, I can preapprove in three months
and you spend the next those last three months finding
something and getting set up and getting in So yeah,
for sure, reach out, let's let's build a plan. Also,
if you're just not sure.
Speaker 1 (21:47):
That's right, Well, we had just you know, talking about
the real estate market, we had an open house in
Helena at our listing last weekend Brookline, and we had
multiple people that showed up to that and then ended
up putting that one under contract. We had multiple offers
on that one and ended up putting that one under contract.
(22:08):
And now we're just getting through the inspection contingency. But
you know, people are out there looking. I mean, we
had both of the folks that came through that open
house were one was looking at relocating from out of
the area being closer to grandkids, and the other one
was in an apartment and they were you know, leases
coming up in the next few months, so one was
(22:29):
probably a year out, one was probably three months out.
But you know, like anything, you got to build that
plan of action because as soon as you find a house,
typically you're going to be three to six weeks to
close on something, and you.
Speaker 2 (22:40):
May, depending where you're looking, you may be competing for
that home. So you didn't have it all ready yea,
and real quickly, I think I'm gonna be interested next
week to kind of hear how all these open houses go.
This week, because it was that first full week back
from school, we've talked about I've got six and all
different price ranges in the areas across the counties. I'll
be real curious to see how that kind of baselines
of what how how good it was across the board
(23:01):
and how many people showed up to kind of get
a feel of what the temperature is out there. I'll
be really interested to hear that those.
Speaker 1 (23:07):
I will have that for us next week. Yeah, and
we'll see how it goes. But yeah, come to We've
got a bunch of open houses, so come and visit
and say hello. You can also as always go to
Gusty gilisgroup dot com. You get a free home evaluation too.
Like it's instant, like within twenty seconds, you'll get a
home evaluation. Just put in your address and uh and
(23:29):
then we'll email you every couple of weeks of an
update on that. So nice little free perk. It's a
it's a Gustament Gusty. Let's go well, I ask one
to to shut her down on custament. All right, thanks
for joining us. We'll see you next time.
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