Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
All right, welcome to Borrowed and Sold and I hope
you are getting super excited about holiday season. Thanksgiving. Man,
we've got a huge event later today. If you're out
in the bounce Yeah. Snaps with Santa. I'm man, I'm
super pumped about it. Brad Smith Bradsmith Loans dot Com,
(00:24):
cross Country Mortgage. How are you, buddy?
Speaker 2 (00:26):
I am great. It is it is here, it is
Thanksgiving week.
Speaker 1 (00:30):
It is I'm so excited. I love to eat. I
love to eat a lot.
Speaker 2 (00:34):
Yeah. I mean if you could, if you could get
the camera zoomed down a little bit, you'd see I
have no problem with taking it down to the side,
which got to work on. But it ain't gonna be this.
Speaker 1 (00:43):
Week, says the season, Thanksgiving, Christmas. All right, are you
coming to the event tonight?
Speaker 2 (00:50):
I believe we've got a little flag tournament when I
leave here for if we keep winning, I think we're
done it too, so we'll still be able to make it.
So so for nine sure we will be Witham Santa.
Speaker 1 (01:00):
So let me just tell you we've got this. This
This is my favorite event of the year. It snaps
with Sanna. This our Sanna is incredible. He does magic tricks.
He tells amazing stories. So if you've got kids, or
if you have grandkids and wanna have a great picture
taken with Sanna, let me tell you, Like, I've got
(01:23):
people that have been coming to this for six and
seven years straight, and I've seen literally their kids grow
through the years. And and so we're at Avendel Brewering
and we're in the upstairs event place of Avendale Brewery
from two to five this afternoon, and come get your
picture taken with Sanna. We've got crafts and things for
(01:46):
the kids, We've got beverages for the adults. We've got
an incredible spread of all kinds of little snacks and
desserts for everybody. I'm gonna try, as I recall last pressure,
Sanna sang some Sanna did sing. He sure did.
Speaker 2 (02:05):
Actually, Sana is skilled, apparently.
Speaker 1 (02:08):
Yeah. Yeah, we had about one hundred and fifty groups
came by last year, a lot of groups. It was fun,
It was it was awesome. We had so much fun.
It is my favorite event of the year.
Speaker 2 (02:19):
So yeah, I mean y'all put a lot into it too.
I mean a lot of the staff and stuff at
the office or in.
Speaker 1 (02:24):
A lot of works for a cross country being a
sponsor or this year, so so get getting involved with it.
Speaker 2 (02:31):
It's always been fun. I've lived by character through pictures
and stuff through Facebook. I actually shared it today just
to on Facebook on some of the stuff y'all posted,
and yeah, it's gonna be it's gonna be fun. And
I just can't I just can't believe it's already back
to this time.
Speaker 1 (02:44):
But we've known it's easy, but we've.
Speaker 2 (02:46):
Known it's coming, and so it's it's here.
Speaker 1 (02:49):
Uh.
Speaker 2 (02:50):
I think I said the other day that it's like
it's like it's twenty twenty six. I mean, Hayes in
the barn, I mean, whatever we've got in, I mean
we get more, but it's it's already for things we've planted,
you know, anything we reaped now we've already sold. So yeah,
it's uh, it's it's here, and it's just hard to
believe that we've got that we're back here, but it
is amazing. It also brings in the in the football
(03:13):
season for around here, so we've got Iron Bowl into
this week and so it's it's just it's an awesome
time of year, but it's it's wild that we're here again.
Speaker 1 (03:20):
Yeah, yeah, it really is. Well, uh, I tell you, you know,
from the market standpoint. I'll give a little bit of
a market update in our next segment. We're going to
talk about like how you can buy a house using
a VA loan. So if you're a veteran, you definitely
want to tune in on our next segment. But Brad,
what have you been seeing in the mortgage market? And
then I'm gonna talk a little bit about what I've
(03:40):
been seeing here lately, just in the last week, uh,
on the real estate world.
Speaker 2 (03:44):
Yeah, so mortgage applications are really dropped a little bit,
but very I mean just a small, not very material.
Rates are just kind of staying stagnant. I mean, I
think they just don't really know what they want to do,
just because there's been so many little like mixed messaging.
I mean it would with the government shut down. Now
it's open back up. We're getting we're trying to react
to jobs reports that are two months behind now because
(04:05):
of the government shutdown, and there's some conflicting numbers on
the unemployment and employment numbers and of what we're getting
and piecing together, and so right now, I mean, rates
are still sitting in the low sixes on the on
the conventional and like we've talked about before, mid mid
fives on your government loans, that's the FHA V A USDA.
And I mean they've really just been kind of hanging
(04:26):
out there, which again is kind of I think that
kind of shows it's probably about where it should be
for the market is and and and nothing crazy. I
do think we're going to continue to see them come
down a little bit more as these job numbers keep
coming out, inflation numbers kind of start getting back together
and the government can react to them. But but we're
I mean we're seeing people. I mean this, you know,
we've talked about it. It's not like it's the peak
(04:48):
of the season, but we see an upticker I normally
do around Thanksgiving through the end of the year, and
so I think we've already been seeing that. I think
y'all have seen that with some contracts and stuff.
Speaker 1 (04:59):
So is that just people getting prepared for the next
thirty sixty ninety days as they're going through that process
of buying a house.
Speaker 2 (05:06):
Yeah, I think there's I think there's I think there's
some motivation for the end of the year to get
to for some people, for whatever reason. Even that may
not impact schools, and even if it's primary residence may
not have anything to do at all with tax implications whatever.
But I think I think there's just some you know,
You've got people that are going to take that whole
week off and want to get it done before they're
going to be back in the spring. They're not going
to have a lot of vacation times until maybe later
(05:26):
in the year that they know they need to do something.
I do think there's some monetary reasons for end of
the year stuff, but I mean I also just think
like more people are out riding around and seeing for
sale signs and start thinking and going. They're just more
people are traveling going through the neighborhoods, going house to house,
just during the holiday season, going into different neighborhoods. They
don't go in every day, in and out. And I
(05:48):
just think there's a little you know for that. Again,
it's not like we're going back up to you know,
the the the peak of the summer or spring when
it's hot hot, But when we start seeing the little
downtick in November usually one of the lower months, I
feel like we normally see that little uptick in December
and then January kind of goes back down usually about November,
and then it's February and then it's March and it's
(06:09):
talking about the calm before the storm.
Speaker 1 (06:10):
There we go, Well, just think about like this week.
I mean, you're gonna be you know, Thanksgiving. You're gonna
be talking with your family and and people just like
you do at the Thanksgiving table, the Christmas table, like
what what have you got going on next year? And
so especially if you're coming in say somebody is coming
into Birmingham staying with you know, family, Well they might
(06:32):
ride around see a for sale sign that might get
them interested and potentially trying to move here.
Speaker 2 (06:37):
Right, you know, and you know how you get down
rabbit holes too? What do you do? You're riding now,
you look and you see a sign? What do you do?
You google it? What's the first one that comes up?
You know, one of the websites that houses goustygoliscrip dot
com comes up. And then and then what do you do?
You click on it? Right, and then it starts showing
you and you aren't looking like, oh I'm not I
can't pay that much. But that's only that. But what
it really does is then it starts suggesting other ones,
(06:58):
and then you start scrolling and then you're then you're
going down the rabbit hole, and then all of a
sudden you start going like, well, hey, honey, do you
see this? Have you seen this one?
Speaker 1 (07:05):
This one? This?
Speaker 2 (07:06):
I like this one right here. I'm not saying that
that's what everybody does, but it grabs us to you,
and so I do think that's that. Yeah, that little
pull up we get in December, I mean, that's that's
That's what makes sense to me. How about that.
Speaker 1 (07:22):
Well, now, I'll tell you I've got multiple folks that
want to get in by the end of the year,
and whether it's getting in for you know, Christmas, holidays, whatever.
But I can tell you in the last week, now
that we've finally passed this government shut down, thank goodness,
get it away from us. We're back in business. And
I think real estate is back in business for sure.
(07:42):
And so I've had more calls in the past week.
I've been busier in the past week than I've had
probably in the last six to seven weeks. And I
think that's completely aligned with the government shut down. So
I'm really excited. I know we've been talking about calm
before the storm for the last I don't know, a
couple of months. But we're kind of this buyer's market
(08:03):
and I feel like, are we going to shift now
that more people are coming in and like multiple offer
situation down Highway to eighty this week. I'm waiting to
hear back if we're going to get it. Well, I'm showing.
I'm showing houses, and I've got folks that are that's
down between just a handful of houses, what is going
to be their next option. I've got people coming in
(08:25):
town four holidays there you go, that are wanting to
move back to Birmingham and we're looking at different options
for him. And so now I had had a phone
call earlier this week. I've talked to them for I
don't know how many years, two, three, four years about
buying a house. Finally this week I even got a
(08:47):
FaceTime FaceTime He's like, I'm ready, I'm ready, We're ready.
So I'm excited about that and uh yeah, So, I
mean we're getting more energy in the real estate market.
So I'm feeling I'm feeling a lot more confident than
I have really the last you know month with the
government shut down, so I'm ready to rock. And so
(09:09):
I think, you know, if you're sitting you're sitting back
and you're thinking, like, all right, what is what's what
am I going to plan to do in twenty twenty six? Like,
the conversations are happening now, you know, do I put
my house on the market in January, whether it's March
through May whenever, because there's a lot of preparation in
getting some of the houses ready for market. The conversations
(09:32):
are happening right now. So if you're sitting back, you're
kind of thinking like, hey, you know, it'd be kind
of nice to move into a new house, you know,
but I've got this, like, you know, three and a
half percent rate and I don't really want to to
move on it, but hey, rates they're kind of reportedly
reportedly potentially coming down. Yeah, so the projections are coming
(09:55):
down into the fives. And I think that's going to
make it a lot, a lot easier for a lot
of folks to get back in the market.
Speaker 2 (10:00):
I agree, And I mean, and I mean, if you
think it's potentially that you're going to be listing your
house in the spring, talking about planning, right, so what
what do most people do this time of year to
their house, they start decorating it for Christmas, right, yeah, Okay, well,
then there's a there's a process after Christmas have taken
all the crap down and putting it all up. Yeah,
but there's also some set up and some staging you're
(10:22):
going to need to do when if you're thinking about
listing your home and cleaning out and doing stuff, so
piggyback it together. I mean, if you're already going through
the processing of Christmas stuff, go and be thinking about like, hey,
what do we need to go and put up to
start thinking about getting the things together and moving some
things around and then and getting ready to list that house.
Because it's a process. I did it last year, in
this past year, and I mean it's it's it takes
(10:43):
some work to be ready to get it, to get
it done. Yeah, and so I just kind of planning
that together.
Speaker 1 (10:48):
Well, if you're kind of thinking about this and maybe
living the Alabaster area, We've got an open house this
afternoon from two to four and uh. And so with
that being said, I think we need to talk about
our game. Let's do let's do the game.
Speaker 2 (11:02):
So we do have one open house today. So we're
gonna we're gonna play the game for once. This is
gonna be for all the marbles.
Speaker 1 (11:07):
The marbles, John marbles.
Speaker 2 (11:10):
All right, I've got the marbles. You're trying to win them.
Speaker 1 (11:12):
Do we not have any of just out in the
break room or something. You know.
Speaker 2 (11:16):
JT's lost to Sorry, he's getting some shrapnel from in here.
We were talking with JT's two weeks. All right, you
know it's it's kind of easy, Okay. The rules of
the game are, yeah, So Gus, he's gonna go through
the details of the property and all the cool things
and some of the key features. At the end, he's
(11:38):
gonna give us the most important part, and that is
what the purchase price is, at which time I will
give a potential down payment that the bar may make,
and then Gusty and John will guess the thirty of
your fixed principal interest only monthly payment. That's all there
is to it there.
Speaker 1 (11:51):
It is all right, that easy, all right, So we've
got to open this afternoon in Alabaster one O nine
Shelby Farms Drive. This is in the Shelby Farm subdivision
of Alabaster. This was built in twenty seventeen. It's three bedrooms,
two baths. This is a cute garden home with fourteen
hundred and eighty one square feet, and we are asking
(12:12):
two hundred and eighty five thousand. This was built in
twenty seventeen, so it's got, you know, those newer updates,
the granite countertops, the screen porch, the fenced yard, the
I mean, just it's a community that has sidewalks and
I mean it's just a super convenient area. So AnyWho
(12:34):
one oh nine Shelby Farms drive open this afternoon from
two to four, two hundred and eighty five thousand. I
guess I'm on the clock first.
Speaker 2 (12:40):
You were on the clock first, and since we only
have one today, still gonna be on thirty or fixed.
But we're going to go twoenty five seven percent down seven.
Just everybody knows people don't just put down even five percent,
three percent, ten percent down payments. Sometimes people put down
six point three percent. They've got just a number they
want to put down. It doesn't matter what the percentage is.
Speaker 1 (13:00):
I actually point out I'm not using a calculator, So
there's gonna be a lot of guesswork with seven. Yeah. Literally,
I think in the five years of us in the show.
We have never done seven percent. Now, We've done three
percent now and again, but nomber seven never seven percent now? Okay,
all right, interesting.
Speaker 2 (13:16):
Inch, make make it part of your fifty year mortgage
plan that you're working on. Yeah, I must put seven
percent down.
Speaker 1 (13:24):
Okay, seven percent down at two eighty five, I'm gonna
go with let's go. Fifteen hundred dollars sounds a little
too round for me. I don't really know what I'm
(13:44):
doing here. Yeah, you do? You beat me last week?
Speaker 2 (13:48):
Yeah, I think it was a fluke seventeen hundred, seventeen hundred.
The actual payment was sixteen forty. John Mounts gets the.
Speaker 1 (13:56):
Do not know what I'm doing two weeks in a row.
Quit now be the John mount Show. Wow, holy moly.
We congratulations John, look at you. I still get to
come this afternoon, right, Yeah, for sure? Absolutely?
Speaker 2 (14:14):
Yeah.
Speaker 1 (14:16):
You get free admissions. Santa Santa Hey, we've got a
couple of buyer needs. We've got We've got somebody looking
uh in the Highway to eighty area. Uh. They would
prefer to be around five fifty or up to five fifty.
And so if you're in Brook Highland Meadow, Brook Eagle point,
(14:36):
I'd love to have a conversation with you. They could
go a little bit higher, but we're trying to avoid
having to sell a house to buy a house. I've
got somebody looking up to four hundred thousand near Rocky
Ridge Road. I've got multiple people looking in the Edgewood
School district in Homewood, literally all price ranges. So if
you've got somebody in Edgewood, if you're in Edgewood listening
(14:58):
and considering selling your property, love to have a conversation
with you. And then I've got somebody near Graystone, YMCA,
I'd love to have a conversation with you up to
three point fifty. I've got a cash buyer. We've been
looking for a little bit and just can't find the one.
So maybe you own the ones, So all right, those
are our VIP buyer needs. You can always go to
(15:18):
Gustygoulisgroup dot com or you can go to call us
at two O five five four to two nineteen ninety six. Hey,
guess what time it is. That's right, it's testimonial time. Hey,
we've got a bunch of like we've got three today.
Holy moly. All right, I had an excellent experience with
(15:40):
Kyle to purchase my property in Birmingham. He was extremely
knowledgeable about the local market and helped me identify the
right opportunities that aligned with my goals. Kyle's communication was
top notch. He kept me updated every step of the
way and was always quick to respond to any questions
or concerns. Kyle goes above and beyond to make the
(16:00):
entire process smooth and successful. I highly recommend him. So
congratulations on your new home and Kyle. Congratulations on another
five star review. This one is for TJ. TJ went
on a journey with us throughout the process. That's funny.
I like that. I like the start of that journey.
Went on a journey. We hit some bumps in the
(16:21):
road on a new build. We went under contract with first,
then went through two other offers and walked away from
all three before finding our home. He was patient, kind, tenacious,
and handled all my questions with grace. He has a
breath of fresh air and his attitude as sunshine on
a cloudy day. How about that. I highly recommend working
(16:42):
with TJ during your home search. You will have the
best experience. So congratulations on your new home and TJ.
Congratulations on another five star review, and last, but not least,
this one goes to Alita. Alita was amazing. I was
in a difficult selling situation and she worked with me
every step of the way. I'm impressed with her knowledge
(17:04):
and ability to adapt. Thank you well. Congratulations on selling
your home. And Alita, congratulations on.
Speaker 2 (17:11):
Another five star review.
Speaker 1 (17:14):
How about that three this week, let's go let's go.
All right, well, y'all stay tuned, especially if you were
a veteran or knows a veteran. We're gonna talk about
how you can get a VA loan and that process
right here on Balt bart and Sold. All right, welcome
(17:35):
back to ball bart and Sold, and thanks again for
always joining us each and every Sunday morning. Brad Smith
with Bradsmithlans dot com cross Country Mortgage, and I wanted
to talk about VA loans today. So if you're a veteran,
listen up. If you've got a family member that is
a veteran or a friend, listen up. You know, I
think one of the things that people kind of forget
(17:55):
about is you can get into a home with z
He wrote money down one hundred percent financing ladies and
gentlemen one hundred percent financing, Uh, just by being a veteran,
being a veteran and being able to How awesome is that?
Speaker 2 (18:11):
Yeah?
Speaker 1 (18:13):
So yeah, I wanted to talk about that today. And
you know what somebody needs to be prepared for on
you know, getting prepared to buy a house using a
VA loan. So it's what kind of information can you
share it? So those veterans that are listening out.
Speaker 2 (18:26):
Yeah, I think I think some of the cool things
about the v A loan and and honestly, some some
people don't even know if they're eligible or not, or
you know, they know they were did some type of
military or or did you know, maybe National Guard and
other things that maybe think that doesn't apply to them,
And so there are different there are different qualifications for
v A loans, So I think, you know, I think
checking and knowing, hey I did something with military, I
(18:47):
don't know if I had enough to get VA benefits
for housing, but it's always good to check. If you haven't,
you know, we can help you do that at cross Country.
There's also v A dot Gov has a ton of
for you to go in there and find you know,
you submit your forms and or submit your online application.
Still ach eligibility requirements are. But I mean, you know,
(19:08):
v A is great because it's it's you know, you've
got you've got the ability to really go up and buy.
You know, if you qualify your income qualifies for the
mortgage payments, you can go up to without putting any down,
all the way up to the jumbo limits. So you're
talking about eight hundred over eight hundred thousand dollars on
one hundred percent financing for you know, if you qualify
(19:29):
for the payments and then even after that. So let's
I mean, we get I mean, I'm not trying to
go all on the upside, but just showing you, like
what all you can do. So I mean V A
V loans have one time construction to permalans we can
do so you can do true construction to permanent or
one time closing on VA. It's it's awesome that that
that that's A that's available. But let's just say that
(19:50):
you know you're a veteran and you're you've got something,
and you're you're looking at the more and a half
million dollar range, okay, and you say, well what do
I have to do?
Speaker 1 (19:58):
Then?
Speaker 2 (19:58):
Well, so what VA does is V guarantees twenty five
percent of the loan amount for the lenders. So it's
basically like they're like, it's almost like you're putting twenty
five percent down. So so so the VA is the
hudd and VA is guaranteeing twenty five percent that loan.
So so if you go into fault VA saying we're
covering this twenty five percent of it, so then it's
just like you're putting twenty five percent down. So for
(20:19):
that reason, it's lower risk for the lenders. And so
that's why your rates lower.
Speaker 1 (20:23):
I don't think I've ever heard that explain.
Speaker 2 (20:25):
That one, yeah, and so and so that so that's
the benefit. So if you go over your county limits,
so that's what that's what the jumbo limits are, is
that your county limits and like around here to I
think it's our limits are eight hundred and fifteen eight
thirty now, but if you go over that, you've just
got to pay the twenty five percent down of the
difference of the max. So just let's use even numbers.
(20:48):
If you if you wanted to buy a million, if
you're if you're VIA, if you're a veteran and you
you're VA eligible, and you qualify for it, and you
wanted to buy a million dollar house, and let's just
say the limits eight hundred. You got it. As the veteran,
you've got to put twenty five five percent down of
the two hundred ah me for that difference because yep,
so you're just keeping everything at twenty five percent down
(21:08):
and VA's covering the twenty five percent down from everything
below it. Wow, and so so I mean, it's it
is amazing what all you can do. I mean, it
is one of those things where people like, well, I'm
I'm I'm approved to go VA, but I wanted to
see what mother options are. I'm like you, there's I
don't know what to tell you that. I don't think
that personally, I don't know there is a better loan
than the VA loan if you qualify for it. So
I don't know what else. Even if you want to
(21:28):
put twenty percent down, VA still the way to go. So,
I mean a lot, you know, So if you're eligible
for it or you think you might be. Again, I
think I think some of the some of the ones
that may not be one hundred percent sure, like if
you if you're a National Guard and you were National
Guard for six years, then you qualify if you were
a National Guard and you ever got caught if you
went over I think it's ninety days of active duty
at any point from your National Guard service, then I
believe you're you can be eligible. And then it's there's
(21:50):
another window from ninety to like one hundred and eighty
depending on how you were you know, what emergency situation
it was. But I mean, so there's a lot of
I mean, there's there's a you know between national guards
and all military services and stuff. You know you're out there.
Another thing, real quick, why don't understand this if you
buy if you buy a VA home, If you buy
(22:11):
a home, we use a VA loan. That VA loan
not only is it assumable, which means you can sell
it and that and the buyer can assume your loan
and that helps you be flexible and everything else that
being military. But but the other the other huge thing
is you can you can have more than one VA mortgage,
so you can have so when you go to those
county limits like I was talking about a minute ago,
(22:33):
and they cover that twenty five percent up to eight
hundred thousand. Well, if you bought a two hundred thousand
dollars house and they use that twenty five percent guarantee
you've still got you don't have to sell that house
to then qualify for another six hundred thousand dollar loan
and still have twenty five percent covered because you've still
got guarantee left. So you can convert that VA loan
into a rental. You can if you've still got room
now if you want now, if you end up using
(22:55):
all of it, then of course that's different if you've
gone all the way up to the max. But but
we've got people that sometimes I'll have you know, can
have two V mortgages or like I said, they bought
a three hound thousand house, multiple under eight hundred, multiple
under eight hundred. Wow, and so and it's primary residences
and you can't just go buy a bunch of best
that way, but it's there. So I mean like they're
I mean, theoretically you could buy a house. You asked,
if I go six minutes and we can go. I
(23:16):
was able to go six minutes pretty pretty swiftly.
Speaker 1 (23:19):
Look, I thought that dude, solid information. I think if
you're a veteran, you've got well, first off, thank you
for your service. But This is a thank you for
your service, like.
Speaker 2 (23:30):
From the Veteran's Day two weeks. It's that time of
the year.
Speaker 1 (23:34):
Anyways, Hey, go to gustyguilisgroup dot com if you want
to get that home search together for our veterans. We
do not charge an administrative fee, so that's another little perk.
So yeah, yeah, gustygilisgroup dot com. Thanks so much for
joining us today. Brad, good to see you. Thanks for
all the solid information.
Speaker 2 (23:53):
I hope everybody has awesome Thanksgiving.
Speaker 1 (23:55):
Happy Thanksgiving to you. John, congratulations two weeks in a row.
Thank you, Happy Thanksgiving. Ye
All right, welcome to Borrowed and Sold and I hope
you are getting super excited about holiday season. Thanksgiving. Man,
we've got a huge event later today. If you're out
in the bounce Yeah. Snaps with Santa. I'm man, I'm
super pumped about it. Brad Smith Bradsmith Loans dot Com,
(00:24):
cross Country Mortgage. How are you, buddy?
Speaker 2 (00:26):
I am great. It is it is here, it is
Thanksgiving week.
Speaker 1 (00:30):
It is I'm so excited. I love to eat. I
love to eat a lot.
Speaker 2 (00:34):
Yeah. I mean if you could, if you could get
the camera zoomed down a little bit, you'd see I
have no problem with taking it down to the side,
which got to work on. But it ain't gonna be this.
Speaker 1 (00:43):
Week, says the season, Thanksgiving, Christmas. All right, are you
coming to the event tonight?
Speaker 2 (00:50):
I believe we've got a little flag tournament when I
leave here for if we keep winning, I think we're
done it too, so we'll still be able to make it.
So so for nine sure we will be Witham Santa.
Speaker 1 (01:00):
So let me just tell you we've got this. This
This is my favorite event of the year. It snaps
with Sanna. This our Sanna is incredible. He does magic tricks.
He tells amazing stories. So if you've got kids, or
if you have grandkids and wanna have a great picture
taken with Sanna, let me tell you, Like, I've got
(01:23):
people that have been coming to this for six and
seven years straight, and I've seen literally their kids grow
through the years. And and so we're at Avendel Brewering
and we're in the upstairs event place of Avendale Brewery
from two to five this afternoon, and come get your
picture taken with Sanna. We've got crafts and things for
(01:46):
the kids, We've got beverages for the adults. We've got
an incredible spread of all kinds of little snacks and
desserts for everybody. I'm gonna try, as I recall last pressure,
Sanna sang some Sanna did sing. He sure did.
Speaker 2 (02:05):
Actually, Sana is skilled, apparently.
Speaker 1 (02:08):
Yeah. Yeah, we had about one hundred and fifty groups
came by last year, a lot of groups. It was fun,
It was it was awesome. We had so much fun.
It is my favorite event of the year.
Speaker 2 (02:19):
So yeah, I mean y'all put a lot into it too.
I mean a lot of the staff and stuff at
the office or in.
Speaker 1 (02:24):
A lot of works for a cross country being a
sponsor or this year, so so get getting involved with it.
Speaker 2 (02:31):
It's always been fun. I've lived by character through pictures
and stuff through Facebook. I actually shared it today just
to on Facebook on some of the stuff y'all posted,
and yeah, it's gonna be it's gonna be fun. And
I just can't I just can't believe it's already back
to this time.
Speaker 1 (02:44):
But we've known it's easy, but we've.
Speaker 2 (02:46):
Known it's coming, and so it's it's here.
Speaker 1 (02:49):
Uh.
Speaker 2 (02:50):
I think I said the other day that it's like
it's like it's twenty twenty six. I mean, Hayes in
the barn, I mean, whatever we've got in, I mean
we get more, but it's it's already for things we've planted,
you know, anything we reaped now we've already sold. So yeah,
it's uh, it's it's here, and it's just hard to
believe that we've got that we're back here, but it
is amazing. It also brings in the in the football
(03:13):
season for around here, so we've got Iron Bowl into
this week and so it's it's just it's an awesome
time of year, but it's it's wild that we're here again.
Speaker 1 (03:20):
Yeah, yeah, it really is. Well, uh, I tell you, you know,
from the market standpoint. I'll give a little bit of
a market update in our next segment. We're going to
talk about like how you can buy a house using
a VA loan. So if you're a veteran, you definitely
want to tune in on our next segment. But Brad,
what have you been seeing in the mortgage market? And
then I'm gonna talk a little bit about what I've
(03:40):
been seeing here lately, just in the last week, uh,
on the real estate world.
Speaker 2 (03:44):
Yeah, so mortgage applications are really dropped a little bit,
but very I mean just a small, not very material.
Rates are just kind of staying stagnant. I mean, I
think they just don't really know what they want to do,
just because there's been so many little like mixed messaging.
I mean it would with the government shut down. Now
it's open back up. We're getting we're trying to react
to jobs reports that are two months behind now because
(04:05):
of the government shutdown, and there's some conflicting numbers on
the unemployment and employment numbers and of what we're getting
and piecing together, and so right now, I mean, rates
are still sitting in the low sixes on the on
the conventional and like we've talked about before, mid mid
fives on your government loans, that's the FHA V A USDA.
And I mean they've really just been kind of hanging
(04:26):
out there, which again is kind of I think that
kind of shows it's probably about where it should be
for the market is and and and nothing crazy. I
do think we're going to continue to see them come
down a little bit more as these job numbers keep
coming out, inflation numbers kind of start getting back together
and the government can react to them. But but we're
I mean we're seeing people. I mean this, you know,
we've talked about it. It's not like it's the peak
(04:48):
of the season, but we see an upticker I normally
do around Thanksgiving through the end of the year, and
so I think we've already been seeing that. I think
y'all have seen that with some contracts and stuff.
Speaker 1 (04:59):
So is that just people getting prepared for the next
thirty sixty ninety days as they're going through that process
of buying a house.
Speaker 2 (05:06):
Yeah, I think there's I think there's I think there's
some motivation for the end of the year to get
to for some people, for whatever reason. Even that may
not impact schools, and even if it's primary residence may
not have anything to do at all with tax implications whatever.
But I think I think there's just some you know,
You've got people that are going to take that whole
week off and want to get it done before they're
going to be back in the spring. They're not going
to have a lot of vacation times until maybe later
(05:26):
in the year that they know they need to do something.
I do think there's some monetary reasons for end of
the year stuff, but I mean I also just think
like more people are out riding around and seeing for
sale signs and start thinking and going. They're just more
people are traveling going through the neighborhoods, going house to house,
just during the holiday season, going into different neighborhoods. They
don't go in every day, in and out. And I
(05:48):
just think there's a little you know for that. Again,
it's not like we're going back up to you know,
the the the peak of the summer or spring when
it's hot hot, But when we start seeing the little
downtick in November usually one of the lower months, I
feel like we normally see that little uptick in December
and then January kind of goes back down usually about November,
and then it's February and then it's March and it's
(06:09):
talking about the calm before the storm.
Speaker 1 (06:10):
There we go, Well, just think about like this week.
I mean, you're gonna be you know, Thanksgiving. You're gonna
be talking with your family and and people just like
you do at the Thanksgiving table, the Christmas table, like
what what have you got going on next year? And
so especially if you're coming in say somebody is coming
into Birmingham staying with you know, family, Well they might
(06:32):
ride around see a for sale sign that might get
them interested and potentially trying to move here.
Speaker 2 (06:37):
Right, you know, and you know how you get down
rabbit holes too? What do you do? You're riding now,
you look and you see a sign? What do you do?
You google it? What's the first one that comes up?
You know, one of the websites that houses goustygoliscrip dot
com comes up. And then and then what do you do?
You click on it? Right, and then it starts showing
you and you aren't looking like, oh I'm not I
can't pay that much. But that's only that. But what
it really does is then it starts suggesting other ones,
(06:58):
and then you start scrolling and then you're then you're
going down the rabbit hole, and then all of a
sudden you start going like, well, hey, honey, do you
see this? Have you seen this one?
Speaker 1 (07:05):
This one? This?
Speaker 2 (07:06):
I like this one right here. I'm not saying that
that's what everybody does, but it grabs us to you,
and so I do think that's that. Yeah, that little
pull up we get in December, I mean, that's that's
That's what makes sense to me. How about that.
Speaker 1 (07:22):
Well, now, I'll tell you I've got multiple folks that
want to get in by the end of the year,
and whether it's getting in for you know, Christmas, holidays, whatever.
But I can tell you in the last week, now
that we've finally passed this government shut down, thank goodness,
get it away from us. We're back in business. And
I think real estate is back in business for sure.
(07:42):
And so I've had more calls in the past week.
I've been busier in the past week than I've had
probably in the last six to seven weeks. And I
think that's completely aligned with the government shut down. So
I'm really excited. I know we've been talking about calm
before the storm for the last I don't know, a
couple of months. But we're kind of this buyer's market
(08:03):
and I feel like, are we going to shift now
that more people are coming in and like multiple offer
situation down Highway to eighty this week. I'm waiting to
hear back if we're going to get it. Well, I'm showing.
I'm showing houses, and I've got folks that are that's
down between just a handful of houses, what is going
to be their next option. I've got people coming in
(08:25):
town four holidays there you go, that are wanting to
move back to Birmingham and we're looking at different options
for him. And so now I had had a phone
call earlier this week. I've talked to them for I
don't know how many years, two, three, four years about
buying a house. Finally this week I even got a
(08:47):
FaceTime FaceTime He's like, I'm ready, I'm ready, We're ready.
So I'm excited about that and uh yeah, So, I
mean we're getting more energy in the real estate market.
So I'm feeling I'm feeling a lot more confident than
I have really the last you know month with the
government shut down, so I'm ready to rock. And so
(09:09):
I think, you know, if you're sitting you're sitting back
and you're thinking, like, all right, what is what's what
am I going to plan to do in twenty twenty six? Like,
the conversations are happening now, you know, do I put
my house on the market in January, whether it's March
through May whenever, because there's a lot of preparation in
getting some of the houses ready for market. The conversations
(09:32):
are happening right now. So if you're sitting back, you're
kind of thinking like, hey, you know, it'd be kind
of nice to move into a new house, you know,
but I've got this, like, you know, three and a
half percent rate and I don't really want to to
move on it, but hey, rates they're kind of reportedly
reportedly potentially coming down. Yeah, so the projections are coming
(09:55):
down into the fives. And I think that's going to
make it a lot, a lot easier for a lot
of folks to get back in the market.
Speaker 2 (10:00):
I agree, And I mean, and I mean, if you
think it's potentially that you're going to be listing your
house in the spring, talking about planning, right, so what
what do most people do this time of year to
their house, they start decorating it for Christmas, right, yeah, Okay, well,
then there's a there's a process after Christmas have taken
all the crap down and putting it all up. Yeah,
but there's also some set up and some staging you're
(10:22):
going to need to do when if you're thinking about
listing your home and cleaning out and doing stuff, so
piggyback it together. I mean, if you're already going through
the processing of Christmas stuff, go and be thinking about like, hey,
what do we need to go and put up to
start thinking about getting the things together and moving some
things around and then and getting ready to list that house.
Because it's a process. I did it last year, in
this past year, and I mean it's it's it takes
(10:43):
some work to be ready to get it, to get
it done. Yeah, and so I just kind of planning
that together.
Speaker 1 (10:48):
Well, if you're kind of thinking about this and maybe
living the Alabaster area, We've got an open house this
afternoon from two to four and uh. And so with
that being said, I think we need to talk about
our game. Let's do let's do the game.
Speaker 2 (11:02):
So we do have one open house today. So we're
gonna we're gonna play the game for once. This is
gonna be for all the marbles.
Speaker 1 (11:07):
The marbles, John marbles.
Speaker 2 (11:10):
All right, I've got the marbles. You're trying to win them.
Speaker 1 (11:12):
Do we not have any of just out in the
break room or something. You know.
Speaker 2 (11:16):
JT's lost to Sorry, he's getting some shrapnel from in here.
We were talking with JT's two weeks. All right, you
know it's it's kind of easy, Okay. The rules of
the game are, yeah, So Gus, he's gonna go through
the details of the property and all the cool things
and some of the key features. At the end, he's
(11:38):
gonna give us the most important part, and that is
what the purchase price is, at which time I will
give a potential down payment that the bar may make,
and then Gusty and John will guess the thirty of
your fixed principal interest only monthly payment. That's all there
is to it there.
Speaker 1 (11:51):
It is all right, that easy, all right, So we've
got to open this afternoon in Alabaster one O nine
Shelby Farms Drive. This is in the Shelby Farm subdivision
of Alabaster. This was built in twenty seventeen. It's three bedrooms,
two baths. This is a cute garden home with fourteen
hundred and eighty one square feet, and we are asking
(12:12):
two hundred and eighty five thousand. This was built in
twenty seventeen, so it's got, you know, those newer updates,
the granite countertops, the screen porch, the fenced yard, the
I mean, just it's a community that has sidewalks and
I mean it's just a super convenient area. So AnyWho
(12:34):
one oh nine Shelby Farms drive open this afternoon from
two to four, two hundred and eighty five thousand. I
guess I'm on the clock first.
Speaker 2 (12:40):
You were on the clock first, and since we only
have one today, still gonna be on thirty or fixed.
But we're going to go twoenty five seven percent down seven.
Just everybody knows people don't just put down even five percent,
three percent, ten percent down payments. Sometimes people put down
six point three percent. They've got just a number they
want to put down. It doesn't matter what the percentage is.
Speaker 1 (13:00):
I actually point out I'm not using a calculator, So
there's gonna be a lot of guesswork with seven. Yeah. Literally,
I think in the five years of us in the show.
We have never done seven percent. Now, We've done three
percent now and again, but nomber seven never seven percent now? Okay,
all right, interesting.
Speaker 2 (13:16):
Inch, make make it part of your fifty year mortgage
plan that you're working on. Yeah, I must put seven
percent down.
Speaker 1 (13:24):
Okay, seven percent down at two eighty five, I'm gonna
go with let's go. Fifteen hundred dollars sounds a little
too round for me. I don't really know what I'm
(13:44):
doing here. Yeah, you do? You beat me last week?
Speaker 2 (13:48):
Yeah, I think it was a fluke seventeen hundred, seventeen hundred.
The actual payment was sixteen forty. John Mounts gets the.
Speaker 1 (13:56):
Do not know what I'm doing two weeks in a row.
Quit now be the John mount Show. Wow, holy moly.
We congratulations John, look at you. I still get to
come this afternoon, right, Yeah, for sure? Absolutely?
Speaker 2 (14:14):
Yeah.
Speaker 1 (14:16):
You get free admissions. Santa Santa Hey, we've got a
couple of buyer needs. We've got We've got somebody looking
uh in the Highway to eighty area. Uh. They would
prefer to be around five fifty or up to five fifty.
And so if you're in Brook Highland Meadow, Brook Eagle point,
(14:36):
I'd love to have a conversation with you. They could
go a little bit higher, but we're trying to avoid
having to sell a house to buy a house. I've
got somebody looking up to four hundred thousand near Rocky
Ridge Road. I've got multiple people looking in the Edgewood
School district in Homewood, literally all price ranges. So if
you've got somebody in Edgewood, if you're in Edgewood listening
(14:58):
and considering selling your property, love to have a conversation
with you. And then I've got somebody near Graystone, YMCA,
I'd love to have a conversation with you up to
three point fifty. I've got a cash buyer. We've been
looking for a little bit and just can't find the one.
So maybe you own the ones, So all right, those
are our VIP buyer needs. You can always go to
(15:18):
Gustygoulisgroup dot com or you can go to call us
at two O five five four to two nineteen ninety six. Hey,
guess what time it is. That's right, it's testimonial time. Hey,
we've got a bunch of like we've got three today.
Holy moly. All right, I had an excellent experience with
(15:40):
Kyle to purchase my property in Birmingham. He was extremely
knowledgeable about the local market and helped me identify the
right opportunities that aligned with my goals. Kyle's communication was
top notch. He kept me updated every step of the
way and was always quick to respond to any questions
or concerns. Kyle goes above and beyond to make the
(16:00):
entire process smooth and successful. I highly recommend him. So
congratulations on your new home and Kyle. Congratulations on another
five star review. This one is for TJ. TJ went
on a journey with us throughout the process. That's funny.
I like that. I like the start of that journey.
Went on a journey. We hit some bumps in the
(16:21):
road on a new build. We went under contract with first,
then went through two other offers and walked away from
all three before finding our home. He was patient, kind, tenacious,
and handled all my questions with grace. He has a
breath of fresh air and his attitude as sunshine on
a cloudy day. How about that. I highly recommend working
(16:42):
with TJ during your home search. You will have the
best experience. So congratulations on your new home and TJ.
Congratulations on another five star review, and last, but not least,
this one goes to Alita. Alita was amazing. I was
in a difficult selling situation and she worked with me
every step of the way. I'm impressed with her knowledge
(17:04):
and ability to adapt. Thank you well. Congratulations on selling
your home. And Alita, congratulations on.
Speaker 2 (17:11):
Another five star review.
Speaker 1 (17:14):
How about that three this week, let's go let's go.
All right, well, y'all stay tuned, especially if you were
a veteran or knows a veteran. We're gonna talk about
how you can get a VA loan and that process
right here on Balt bart and Sold. All right, welcome
(17:35):
back to ball bart and Sold, and thanks again for
always joining us each and every Sunday morning. Brad Smith
with Bradsmithlans dot com cross Country Mortgage, and I wanted
to talk about VA loans today. So if you're a veteran,
listen up. If you've got a family member that is
a veteran or a friend, listen up. You know, I
think one of the things that people kind of forget
(17:55):
about is you can get into a home with z
He wrote money down one hundred percent financing ladies and
gentlemen one hundred percent financing, Uh, just by being a veteran,
being a veteran and being able to How awesome is that?
Speaker 2 (18:11):
Yeah?
Speaker 1 (18:13):
So yeah, I wanted to talk about that today. And
you know what somebody needs to be prepared for on
you know, getting prepared to buy a house using a
VA loan. So it's what kind of information can you
share it? So those veterans that are listening out.
Speaker 2 (18:26):
Yeah, I think I think some of the cool things
about the v A loan and and honestly, some some
people don't even know if they're eligible or not, or
you know, they know they were did some type of
military or or did you know, maybe National Guard and
other things that maybe think that doesn't apply to them,
And so there are different there are different qualifications for
v A loans, So I think, you know, I think
checking and knowing, hey I did something with military, I
(18:47):
don't know if I had enough to get VA benefits
for housing, but it's always good to check. If you haven't,
you know, we can help you do that at cross Country.
There's also v A dot Gov has a ton of
for you to go in there and find you know,
you submit your forms and or submit your online application.
Still ach eligibility requirements are. But I mean, you know,
(19:08):
v A is great because it's it's you know, you've
got you've got the ability to really go up and buy.
You know, if you qualify your income qualifies for the
mortgage payments, you can go up to without putting any down,
all the way up to the jumbo limits. So you're
talking about eight hundred over eight hundred thousand dollars on
one hundred percent financing for you know, if you qualify
(19:29):
for the payments and then even after that. So let's
I mean, we get I mean, I'm not trying to
go all on the upside, but just showing you, like
what all you can do. So I mean V A
V loans have one time construction to permalans we can
do so you can do true construction to permanent or
one time closing on VA. It's it's awesome that that
that that's A that's available. But let's just say that
(19:50):
you know you're a veteran and you're you've got something,
and you're you're looking at the more and a half
million dollar range, okay, and you say, well what do
I have to do?
Speaker 1 (19:58):
Then?
Speaker 2 (19:58):
Well, so what VA does is V guarantees twenty five
percent of the loan amount for the lenders. So it's
basically like they're like, it's almost like you're putting twenty
five percent down. So so so the VA is the
hudd and VA is guaranteeing twenty five percent that loan.
So so if you go into fault VA saying we're
covering this twenty five percent of it, so then it's
just like you're putting twenty five percent down. So for
(20:19):
that reason, it's lower risk for the lenders. And so
that's why your rates lower.
Speaker 1 (20:23):
I don't think I've ever heard that explain.
Speaker 2 (20:25):
That one, yeah, and so and so that so that's
the benefit. So if you go over your county limits,
so that's what that's what the jumbo limits are, is
that your county limits and like around here to I
think it's our limits are eight hundred and fifteen eight
thirty now, but if you go over that, you've just
got to pay the twenty five percent down of the
difference of the max. So just let's use even numbers.
(20:48):
If you if you wanted to buy a million, if
you're if you're VIA, if you're a veteran and you
you're VA eligible, and you qualify for it, and you
wanted to buy a million dollar house, and let's just
say the limits eight hundred. You got it. As the veteran,
you've got to put twenty five five percent down of
the two hundred ah me for that difference because yep,
so you're just keeping everything at twenty five percent down
(21:08):
and VA's covering the twenty five percent down from everything
below it. Wow, and so so I mean, it's it
is amazing what all you can do. I mean, it
is one of those things where people like, well, I'm
I'm I'm approved to go VA, but I wanted to
see what mother options are. I'm like you, there's I
don't know what to tell you that. I don't think
that personally, I don't know there is a better loan
than the VA loan if you qualify for it. So
I don't know what else. Even if you want to
(21:28):
put twenty percent down, VA still the way to go. So,
I mean a lot, you know, So if you're eligible
for it or you think you might be. Again, I
think I think some of the some of the ones
that may not be one hundred percent sure, like if
you if you're a National Guard and you were National
Guard for six years, then you qualify if you were
a National Guard and you ever got caught if you
went over I think it's ninety days of active duty
at any point from your National Guard service, then I
believe you're you can be eligible. And then it's there's
(21:50):
another window from ninety to like one hundred and eighty
depending on how you were you know, what emergency situation
it was. But I mean, so there's a lot of
I mean, there's there's a you know between national guards
and all military services and stuff. You know you're out there.
Another thing, real quick, why don't understand this if you
buy if you buy a VA home, If you buy
(22:11):
a home, we use a VA loan. That VA loan
not only is it assumable, which means you can sell
it and that and the buyer can assume your loan
and that helps you be flexible and everything else that
being military. But but the other the other huge thing
is you can you can have more than one VA mortgage,
so you can have so when you go to those
county limits like I was talking about a minute ago,
(22:33):
and they cover that twenty five percent up to eight
hundred thousand. Well, if you bought a two hundred thousand
dollars house and they use that twenty five percent guarantee
you've still got you don't have to sell that house
to then qualify for another six hundred thousand dollar loan
and still have twenty five percent covered because you've still
got guarantee left. So you can convert that VA loan
into a rental. You can if you've still got room
now if you want now, if you end up using
(22:55):
all of it, then of course that's different if you've
gone all the way up to the max. But but
we've got people that sometimes I'll have you know, can
have two V mortgages or like I said, they bought
a three hound thousand house, multiple under eight hundred, multiple
under eight hundred. Wow, and so and it's primary residences
and you can't just go buy a bunch of best
that way, but it's there. So I mean like they're
I mean, theoretically you could buy a house. You asked,
if I go six minutes and we can go. I
(23:16):
was able to go six minutes pretty pretty swiftly.
Speaker 1 (23:19):
Look, I thought that dude, solid information. I think if
you're a veteran, you've got well, first off, thank you
for your service. But This is a thank you for
your service, like.
Speaker 2 (23:30):
From the Veteran's Day two weeks. It's that time of
the year.
Speaker 1 (23:34):
Anyways, Hey, go to gustyguilisgroup dot com if you want
to get that home search together for our veterans. We
do not charge an administrative fee, so that's another little perk.
So yeah, yeah, gustygilisgroup dot com. Thanks so much for
joining us today. Brad, good to see you. Thanks for
all the solid information.
Speaker 2 (23:53):
I hope everybody has awesome Thanksgiving.
Speaker 1 (23:55):
Happy Thanksgiving to you. John, congratulations two weeks in a row.
Thank you, Happy Thanksgiving. Ye
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