Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hello, good morning. Hope everybody is doing wonderful it is.
We took a little break last week, didn't we brown well,
Thanksgiving break.
Speaker 2 (00:09):
But said we took a radio break.
Speaker 1 (00:11):
If I got a break, Yeah, well that's that's a
valid point. We went to Gadston for for the holidays, and.
Speaker 2 (00:18):
Yes we did.
Speaker 3 (00:19):
Y'all did too, so both of us.
Speaker 1 (00:21):
Yeah, we were up and yaess and but we didn't
hang out, No, not there.
Speaker 3 (00:25):
No, y'all were doing some hunting and.
Speaker 2 (00:26):
We were doing some hunting, and we were down in
south Side on the river at my grandmother's and I
think you were up on the mountain and eating pizza.
Speaker 1 (00:33):
Dude, Mater's pizza. I literally ate it Wednesday, Thursday, Friday
and Saturday. I had at least one piece every day,
and that was my plan.
Speaker 2 (00:44):
I think when I saw you in the after the weekend,
I think that was my first question to you was
not even like j all have a good weekend.
Speaker 3 (00:49):
I was traveling.
Speaker 1 (00:50):
Thanks.
Speaker 2 (00:50):
Did you get your majors get.
Speaker 3 (00:52):
And ladies and gentlemen. Yes I did, Yes, he did.
Speaker 1 (00:55):
I was so pumped me And I think part of
it is like the last time I was up in Gadston,
hanging out at my laws. They they didn't do they
didn't do mators or they did it like the day
before we came in town, and I was like, why
didn't you just wait for me? So Uh, anyways, I
hope everybody had a wonderful Thanksgiving and got to see
(01:17):
you know, family members and friends that maybe you haven't
seen in a long time. And yeah, so so back
to the grind. And you know, I tell you, Brad, uh,
those of y'all, you know jumping in Brad Smith with
Cross Country Mortgage Bradsmithlans dot Com in our studio each
and every week.
Speaker 3 (01:35):
And you.
Speaker 1 (01:37):
Know, we we've seen we've seen an increase in in
people getting into the market.
Speaker 4 (01:43):
Uh.
Speaker 1 (01:44):
Ever since this government shut down no longer shut down. Uh,
we've seen our interests dramatically go up. And we've been
I've been showing houses it seems like every single day
with people that are interested, whether they're moving in from
out of town or back to town, or people's leases
are coming due and they're ready to go ahead and
(02:04):
make that jump into home ownership. And we've been seeing
a little bit of everything. And I've seen even some
multiple offer situations pop up again, which is interesting. But
you know, what I'm finding is the buyers that are
out there right now are really exhausting all options. Yes,
they want to look at everything that's on the market,
(02:27):
and they're not as dialed in as I'd say, we'd
probably hope. But what they're doing in is this reminds
me a lot of you know, real estate fifteen years ago,
where there was so many options that people were looking
at everything. And I think that I would say that
there's not as many options. Obviously there's not as many
options as there were fifteen years ago, but of those options, like,
(02:50):
people are really exhausting all of those options, and they're
trying to see like will it fit in our box
or will it fit in like.
Speaker 3 (03:00):
Do we want to do a renovation?
Speaker 1 (03:02):
And what's funny is like every time I go into
a house that needs to be renovated, like most people
do not want to do a renovation. They don't they
don't have the vision, they don't want to go through
the process. And so but they've got to clear that out.
They've got to just say, all right, let me let
me see if this is an option, and then after
we get in there, they're like, we just don't want
to go through that renovation process. And so I'll tell you,
(03:24):
I feel like the big winners right now are the people,
the investors, the people that are renovating houses and selling
those properties. Those are the people that those houses are moving. Yeah,
because people just do not want to do the work
and they want something to move in ready, and maybe
they just don't have the extra funds to do the renovations.
And then obviously on a renovated house, they can get
(03:46):
their financing and they don't have to worry about other
additional out of pocket expenses.
Speaker 2 (03:50):
Yeah. I mean, you know in Birmingham, Jefferson County, Shelby County,
you know are areas around here. You know there's we
have Obviously, you know, certain people want to be in
certain areas, and so some areas you can go buy
a land and build, right, I mean, you can build
something from scratch, you don't have to do renovation. Some
have brand new subdivisions, it's all new construction. But some
people want to be in some of these communities that
are landlocked. There is no more dirt, so the only
(04:13):
option is to start to renovate and create houses that's correct,
that fit what people need at that moment. So to
your point, I mean, you know, I think it's I
think we're definitely seeing it. I know I personally had
more and more people want to get pre qualified, Some
want to do something as soon as they find something.
Some just kind of going ahead and building that plan
to come back and really start looking in January and
(04:35):
try to do something in the spring. But it's definitely
picking up. But it's funny you said that about fifteen
years ago, because when we get into a market update,
I've got some numbers that'll kind of go back to
some similarities between now and twenty twelve. There we go
of kind of going back to that zone of what
you're talking about. So it's funny you bring that up.
So tease that for the market up now.
Speaker 3 (04:53):
Yeah.
Speaker 1 (04:54):
Second, So yeah, and we'll do that in the second segment,
and I'll kind of give you an idea of where
we're at year to date and and how we're going
to finish the year. So but we've got we've got
some open houses this afternoon that I'd love to tell
you about, and so we'll get our game going. It's
the mortgage guessing, the mortgage payment game, and it'll be
(05:16):
myself against John Mounts and Brad. I guess tell the
rules to everybody, my friend.
Speaker 2 (05:21):
Yes, the rules, they're quite simple. Gus, he's going to
go through the listings in the open house that they've got.
He's going to go through some of the finer details,
but the end he's going to give us the most
important piece that I need in that is the list
price of the property, at which point I will give
a potential down payment that a baller may make if
they're a purchase in that home, and Gusty and John
Mounts will guess the monthly thirty year fixed principal interest
only payment.
Speaker 3 (05:40):
There we go.
Speaker 1 (05:41):
All right, We've got a new listing in the Bellevue
Heights neighborhood of Birmingham. Fourteen twelve forty second Street. This
one was built in nineteen thirty five. Nice little bungalow
that is three bedrooms, one and a half baths, fourteen
and forty eight square feet and we are asking one
(06:02):
hundred and twenty five thousand, one hundred and twenty five thousand,
and this listing is courtesy of Tony Big Daniels. So Tony,
congratulations on your new listing. And it's gonna be open
from two to four this afternoon.
Speaker 2 (06:17):
Nice, all right one twenty five five percent down, five
percent down.
Speaker 3 (06:22):
Gusty first, five percent down.
Speaker 4 (06:27):
I'm gonna go with seven fifty. About seven fifty.
Speaker 3 (06:41):
I feel like I feel like that's a little low.
I could be wrong. I feel like closer to eight
twenty five.
Speaker 2 (06:49):
Both great guesses, but the actual payment was seven hundred
and thirty one dollars. Gusting gets first one.
Speaker 1 (06:56):
Let's go. I can't have three weeks in a b
oh John, John. Technically you won last week because it
was a replace show.
Speaker 4 (07:03):
Oh well, would you look at that?
Speaker 3 (07:05):
Would you look at it? I chose to replay show
where you won.
Speaker 1 (07:09):
Oh okay, all right, well, well we know you had
to go back at least two weeks. I was gonna say, hey,
we've got our next new listing is in Penson. It's
also going to be opened this afternoon from two to four.
This one is three bedrooms, two baths, thirteen and twenty
one square feet uh two oh nine nine. This is
(07:29):
in the Whistling Pines neighborhood in the Clay area, so
it's a Clay Chalkville School district. And this sits on
point four to one of an acre so almost a
half acre built in nineteen eighty five. This one also
has an unfinished basement, so you can have as much
storage as you would like. And uh yeah, two O
nine to nine, two O nine nine.
Speaker 2 (07:51):
Two O nine nine, John, we're gonna put ten percent
down on this one, ten percent down two O nine nine, So.
Speaker 5 (07:59):
That's like twenty thousand dollars ish, so we're really financing
like one eighty five ishy n whatever. So I'm gonna say.
Speaker 3 (08:12):
Eleven hundred dollars. Okay. You said twenty percent down, ten
ten percent down, okay.
Speaker 5 (08:19):
But twenty so that'd be twenty thousand dollars because it's
a twenty thousand knock house. Yeah, that's what when you
kind of threw me off, I was giving numbers, just
you know, trying.
Speaker 2 (08:28):
Like JT doing math on air. Here, John gets that joke.
I get that joke.
Speaker 3 (08:36):
I'm gonna go with what did John say?
Speaker 2 (08:41):
Eleven hundred even.
Speaker 3 (08:43):
I'm gonna go with eleven fifty.
Speaker 2 (08:45):
Eleven fifty all right, Well the payment was actually eleven
sixty four. Hey right off at the knees, Hey taking
no prisoners.
Speaker 3 (08:57):
But my guess wasn't bad.
Speaker 2 (08:58):
Oh, he's a good guess. I'm saying, he you know,
he's not looking to lose again.
Speaker 4 (09:04):
Now I'm playing for them, baby, I'm dialed in.
Speaker 3 (09:07):
All right.
Speaker 1 (09:08):
Uh open this afternoon from two to four in Kolera
Emerald Ridge neighborhood. This was built in twenty ten. It's
four bedrooms, two baths located at eleven ninety four Emerald
Ridge Drive. Eleven ninety four Emerald Ridge Drive, four bedrooms,
two baths, two thousand and seventy six square feet with
the two car garage two eighty nine to nine, two
(09:31):
eighty nine to nine. This listing is courtesy of Kyle Bedgood.
A couple of notes on this one. It's got an
HVAC that was installed last year, a water heater back
in twenty twenty three, and a new double door refrigerator
also in twenty twenty three in Emerald Ridge Community.
Speaker 2 (09:51):
Two eighty nine to nine to eighty nine nine five percent.
Speaker 3 (09:55):
Down back on me, fac down.
Speaker 4 (10:02):
Okay, Umm, I'm gonna go with.
Speaker 3 (10:12):
What do I want to go with? What do I
want to go with? Is this gonna be right? Is
this gonna be It really doesn't matter if you already
won twice sixteen fifty we.
Speaker 2 (10:22):
Got five to day, sixteen fifty for Gusty let me
go fifteen hundred. Ooh, I was hoping you're gonna process riding,
but you did in sixteen ninety six. Now Augusty's gonna
go ahead and clean get the three of the five
out of the way.
Speaker 3 (10:40):
Oh yeah, all right.
Speaker 1 (10:43):
Our next new listing of the week is sits on
three point six acres in Adamsville fifty let's see, I
gotta get my glasses on, jeez, fifty three fifty three
Shady Crest Road. This was built in nineteen sixty nine,
four bedrooms, two baths, sixteen hundred and eight d square feet.
We are asking two hundred and thirty five thousand dollars
(11:04):
two thirty five three point six acres.
Speaker 3 (11:08):
How about that? Nice? Yeah?
Speaker 2 (11:10):
Three point six.
Speaker 3 (11:11):
Also another listening by Kyle D. Good.
Speaker 2 (11:13):
Kyle's on a roll this week. Kyle gets that let's go,
let's go two thirty five. Fifteen percent down, fifteen percent down. Yeah,
we had some numbers that were kind of close, so
we had to do some things with down payments.
Speaker 3 (11:28):
Oh that's a good point. That's a good point.
Speaker 5 (11:30):
So fifteen percent down on that, So you're putting down
like three thousand, financing two hundred thousand, So.
Speaker 3 (11:43):
I don't know.
Speaker 5 (11:43):
Thirty, Y're fixed. I'm just stalling for time here. Well, fifty,
I don't know what I'm doing.
Speaker 2 (11:55):
John, You've been pretty good all day, Gus, he's just
been a haircut better.
Speaker 3 (12:00):
I'm going to go with the.
Speaker 2 (12:05):
Twelve hundred twelve hundred. Oh wow, y'all really got it
middled here. The actual payment was twelve twenty nine. There
will be no clean sweep today, John gets around.
Speaker 5 (12:15):
Oh h.
Speaker 3 (12:17):
Missed by now?
Speaker 1 (12:19):
Just a hair you won by four dollars, just a
bit outside, all right. Our last new listing of the week,
This is man. Think about this building your we were
talking about building earlier. How about building a lake home
on Logan Martin Lake. We've got on Ansley Drive in
pel City on Logan Martin Lake, a one point three
(12:41):
eight acre lot with one hundred and twenty two feet
of water front or water frontage. We're asking three hundred
and fifty thousand for it. It is heavily wooded, so
you would have to, you know, do some dirt work.
And but I mean one hundred and twenty two feet
of waterfront access lake front with all the possibilities three
(13:06):
hundred and fifty thousand dollars.
Speaker 2 (13:07):
Yeah, that's a great deal and convenient from everybody around here.
That's awesome. All right, So three hundred and fifty thousand dollars, yeah,
five percent down. I did not realize this was a
lot when I did the scenario, or I would have
tweaked it up.
Speaker 3 (13:21):
Wait, let me ask you this. When you do on lots,
what do you typically have to put down?
Speaker 2 (13:25):
So if you if you take it down with the constructs,
say you get a construction loan, and that's part of it,
is the lot takedown. So then so let's just say
for and you can get it. It can be five
to ten percent of the total construction price. Okay, okay,
But if you just need to buy a lot loan
and you want to decide what you're gonna do later,
a lot of times you're going to be looking at
twenty to twenty five percent down, gotcha. And then and
(13:46):
then you're also looking at different terms. I mean, somebody
might do a two or three year balloon, but they
really want you to start building on as quick as possible,
so you may get like a twelve month note or something.
But then most we're gonna be ten or fifteen year amorizations.
So anyways, just to throw that out there, but this
one's five percent. This one's five percent down for the
game visioning. The house is already there for the game,
and it's three hundred fift thousand purse price. It's five
(14:07):
percent down, and we're still in a thirty year am
So that goes back to gus three fifty five percent fifty.
Speaker 3 (14:15):
All right, I'm gonna go nineteen twenty five, nineteen twenty five,
good year, good year.
Speaker 5 (14:30):
Uh, I'm gonna put myself closer to uh, modern times.
You gonna go nineteen seventy seven, also a good year.
Speaker 2 (14:40):
The actual payment was two thousand and forty seven, So
John gets the fifth one.
Speaker 1 (14:46):
Two man ended strong my picking of the year of
my birth. But it was a little late. It was
a little late. Little We've got a we've got a
couple of homes that are going to be coming soon.
We've got we've got a home in the Hoover area
in Lake Wilburn that's going to be coming up for
seven hundred and twenty five thousand. That's a five bedroom
and four bath. We've also got one coming up in
(15:07):
let's see, well, yeah, I know that we also have
one coming up in the balance Tray neighborhood. I don't
have the price right off the top of my head,
but I think it's in the right around the four
hundred range. So we've got a couple of homes that
are going to be coming down the pipeline, which is
really cool. And uh, hey, guess what time it is.
(15:29):
That's right, it's testimonial time.
Speaker 3 (15:33):
All right.
Speaker 1 (15:34):
This first one comes comes from Glinda and it's about
John riddle work and when John Riddle was the best
choice I've made in a long time. He went above
and beyond for me. I knew absolutely nothing about selling
my home, and he took me step by step through
the process, never minded when I called with what was
probably a foolish question, always pleasant, competent, and goal oriented.
(15:58):
It only took two days of open houses to sell,
and I got a very good price. He was there
for the closing, and honestly, if he hadn't helped me,
I don't know what I would have done. Thanks so
many blessings to all involved at the Gusty Goulis group.
So what a wonderful review. Thank you so much Glinda
for the opportunity to help sell your home. And then
John Riddle, congratulations on.
Speaker 3 (16:20):
Another five star review.
Speaker 1 (16:23):
And last but not least, this is for This is
from Becky. Working with the team was extremely beneficial for
our entire buying selling process. We were advised several times
on negotiation points that worked out extremely well in our
favor on both sides of the table, in our buying
process and in our selling process. That we're relatable, easy
(16:47):
to get in contact with, honest and knowledgeable. We could
not have asked for a better team. So Becky, thank
you so much for the opportunity to help sell and
buy your home, and for the team, congratulations on another
five star review.
Speaker 3 (17:03):
How about that? I like that. So that was testimonial
time today.
Speaker 1 (17:08):
And a couple more five star reviews look out, lookout,
and the.
Speaker 2 (17:13):
Next one be the next one.
Speaker 3 (17:15):
Yeah, all right, y'all stay tuned.
Speaker 1 (17:17):
We're gonna give a little bit of a market update
on mortgages on the real estate side right here on
Bob Bart and Saul. Y'all stay tuned. Welcome back to
Bob Bart and Saul. Thanks so much for joining us
each and every week. And you know, we've got been
having a lot going on in the mortgage in real
estate market Brad Smith with Cross Country Mortgage.
Speaker 3 (17:39):
Uh, what what.
Speaker 1 (17:40):
Have you been seeing on the old interest rates?
Speaker 2 (17:43):
Yeah, so so the so the interest rates have have
stayed pretty flat. We've had a little bit of improvement, so,
I mean, we were a little bit better than the
last time we were on air two weeks ago. And uh,
but a lot of that is because we're still kind
of there's a little more unknown on what's gonna happen
next week in the in the FED meeting, and so
(18:04):
it's not as as as cut and dry as Hey,
the they're going to cut it again for sure. I mean,
now the percentage is.
Speaker 3 (18:12):
Polymarket.
Speaker 2 (18:12):
Yeah, so it's like like ninety percent. But the market
hasn't really reacted to it yet because I think there's
still a couple of of of hawkish board members that
that are going to try to try to keep it
from happening. But you know, part of that is, like
we've said, because the government shutting dog. We've mentioned, you
know a lot of these numbers and stuff, we're trailing
and lagging and trying to figure stuff out. And then
also just the timing of it because we're you know,
(18:33):
there's so many seasonal things going on right now, especially
when when you're when your top two things that are
really driving the rates are what you're on your employment
status and unemployment numbers are, and then what inflation is. Well,
it's the most seasonal employment at this time of the
year because people are hiring up for Christmas and stocking
and people. People need more more folks working, but they're
not going to be permanently in the workforce, and so
(18:53):
that kind of helps kew some numbers. And then there's
you know, until we get the Christmas shopping numbers, we
don't really know what's going to do GDP and piece
in our PC numbers and core inflation numbers. So but
but I do think that when the government decides next
week and hope they do, to go ahead and drop
it that other quarter we talked about a month and
month and a half ago, that that that will be
(19:15):
the solidifying mark to help mortgage rates come back down.
We normally tell you it's already kind of built in.
We may start seeing that, but we really haven't seen
it built in yet like we have in previous months.
But you know, the one thing we're just real quick
I was gonna you know, you're talking about twenty twelve
and just kind of talking about the market and different things.
You know, right now, home prices, Uh So, the values
(19:40):
declined point two percent nationwide in October, just for the
month of October. So yes, which was in line with
some of the seasonally adjusted measures we've seen. Year over year,
home values are up one point one percent nationwide. That
figure has been the decelerating and is the slowest year
over year growth reported since twenty twelve. So I just,
(20:02):
I just I just mentioned that because you know, we
all these signs of un you know, employment is not
strong right now by the numbers, I mean that those
numbers keep showing they're not strong. Inflation is slowing. We've
got the proof in the putting there. Even with the tariffs,
the tariffs are not doing even to the extent, even
though it's going to be a one time hit, it's
(20:24):
still not as much as what they were originally predicting.
So with home prices slowing, job looking weaker, and inflation flattening,
there should be no debate in the room that the
rates need to be dropped to court at the twenty
five basis points at a minimum next week. And I
guarantee you there'll be one or two board members that
vote for fifty or seventy five just to be just
(20:46):
to be that guy and prove a point.
Speaker 3 (20:49):
You know, I'd love to see.
Speaker 1 (20:51):
I mean, I can tell you that since the government
shut down reopened, people have been more in tune. Like
I've got folks that want to try to get in
by the end of the year. I've got people that
are ready to you know, they're just waiting for the
right house. So and what will help them is if
rates come down a little bit more lower, then either
(21:15):
that allows them a more economical payment or they have
more buying power yep, and they're willing to spend a
little bit more money. So you know, it will absolutely
benefit well in the.
Speaker 2 (21:27):
Gusts in the real estate market well, because the goal
of that rate coming down is you're going to get
more people that have been on the fence to list
their homes. So now all of a sudden, you've got
you know, you've got more buyers and more inventory. It's
going to work itself out as far as how it appreciates.
But now all of a sudden, these people are going
to have a more inventory to look at because more
people are in the market and listing their homes and
finding the perfect house. So it's it's just it would
(21:49):
just do so much for everyone that needs to be
doing something to just get that little bit of relief. Again,
like we've talked about, if we could just get the
average thirty year fixed in, you know, even if it's
the upper fives, just to see it, I think, I
mean the mental and just kind of that that dopamine
effectacy in it and getting it back into that range
(22:10):
I think would definitely really hit that storm you've been
talking about.
Speaker 3 (22:14):
Yeah, for sure, for sure.
Speaker 1 (22:16):
Well I'll tell you what, I'm super excited about what
you know, the next year is going to look like
we are, Like I think within the next week we're
going to be officially over what we did last year
and are in terms of home soul not where we're
ahead of our pace. In terms of volume closed. I
(22:37):
think if everything closes in December, we're going to close
around thirty homes, which is a good month, and that's
for about I don't know, seven some odd million a
little bit higher. So you know, we're in in the
year strong and you know it's going to be interesting
to see. I mean just for me out showing houses.
(23:02):
I mean, I've got whether it's investors, I've got first
time home buyers, I've got second time home buyers. There's
a bunch of people that are out and about looking
for their perfect place. And so I think we're gearing
up for a really good year in twenty twenty six.
I think we're from an agent standpoint, I think we're
going to start seeing more agents continue to get out
(23:24):
of the business because it has become a lot more
difficult in my opinion, selling houses, and so the folks
that have come in thinking it's super easy are probably
going in and finding something else to do. And your
pros that you've been doing it for a while, you know,
they're just on cruise control making things happen. And I
(23:44):
was having a conversation with a guy. He's like, you know,
in every every market, you were surviving and thriving. And
I was like, man, that's a great compliment. I appreciate
that because we do see a lot in the real
estate world hi lows, and.
Speaker 3 (24:01):
We just keep on a truck and keep on a trucking.
Speaker 1 (24:04):
So Hey, if you've been listening and you like what
you're hearing and want to know your options about whether
buying or selling a house. We'd love to have a
conversation with you. You can go to Gustygoulisgroup dot com or
you can call or Tex two O five five four
two nineteen ninety six. And then if you want to
look at for a mortgage Bradsmith Loans dot com. So
thanks so much for joining us today. We'll catch you
(24:24):
next time.
Hello, good morning. Hope everybody is doing wonderful it is.
We took a little break last week, didn't we brown well,
Thanksgiving break.
Speaker 2 (00:09):
But said we took a radio break.
Speaker 1 (00:11):
If I got a break, Yeah, well that's that's a
valid point. We went to Gadston for for the holidays, and.
Speaker 2 (00:18):
Yes we did.
Speaker 3 (00:19):
Y'all did too, so both of us.
Speaker 1 (00:21):
Yeah, we were up and yaess and but we didn't
hang out, No, not there.
Speaker 3 (00:25):
No, y'all were doing some hunting and.
Speaker 2 (00:26):
We were doing some hunting, and we were down in
south Side on the river at my grandmother's and I
think you were up on the mountain and eating pizza.
Speaker 1 (00:33):
Dude, Mater's pizza. I literally ate it Wednesday, Thursday, Friday
and Saturday. I had at least one piece every day,
and that was my plan.
Speaker 2 (00:44):
I think when I saw you in the after the weekend,
I think that was my first question to you was
not even like j all have a good weekend.
Speaker 3 (00:49):
I was traveling.
Speaker 1 (00:50):
Thanks.
Speaker 2 (00:50):
Did you get your majors get.
Speaker 3 (00:52):
And ladies and gentlemen. Yes I did, Yes, he did.
Speaker 1 (00:55):
I was so pumped me And I think part of
it is like the last time I was up in Gadston,
hanging out at my laws. They they didn't do they
didn't do mators or they did it like the day
before we came in town, and I was like, why
didn't you just wait for me? So Uh, anyways, I
hope everybody had a wonderful Thanksgiving and got to see
(01:17):
you know, family members and friends that maybe you haven't
seen in a long time. And yeah, so so back
to the grind. And you know, I tell you, Brad, uh,
those of y'all, you know jumping in Brad Smith with
Cross Country Mortgage Bradsmithlans dot Com in our studio each
and every week.
Speaker 3 (01:35):
And you.
Speaker 1 (01:37):
Know, we we've seen we've seen an increase in in
people getting into the market.
Speaker 4 (01:43):
Uh.
Speaker 1 (01:44):
Ever since this government shut down no longer shut down. Uh,
we've seen our interests dramatically go up. And we've been
I've been showing houses it seems like every single day
with people that are interested, whether they're moving in from
out of town or back to town, or people's leases
are coming due and they're ready to go ahead and
(02:04):
make that jump into home ownership. And we've been seeing
a little bit of everything. And I've seen even some
multiple offer situations pop up again, which is interesting. But
you know, what I'm finding is the buyers that are
out there right now are really exhausting all options. Yes,
they want to look at everything that's on the market,
(02:27):
and they're not as dialed in as I'd say, we'd
probably hope. But what they're doing in is this reminds
me a lot of you know, real estate fifteen years ago,
where there was so many options that people were looking
at everything. And I think that I would say that
there's not as many options. Obviously there's not as many
options as there were fifteen years ago, but of those options, like,
(02:50):
people are really exhausting all of those options, and they're
trying to see like will it fit in our box
or will it fit in like.
Speaker 3 (03:00):
Do we want to do a renovation?
Speaker 1 (03:02):
And what's funny is like every time I go into
a house that needs to be renovated, like most people
do not want to do a renovation. They don't they
don't have the vision, they don't want to go through
the process. And so but they've got to clear that out.
They've got to just say, all right, let me let
me see if this is an option, and then after
we get in there, they're like, we just don't want
to go through that renovation process. And so I'll tell you,
(03:24):
I feel like the big winners right now are the people,
the investors, the people that are renovating houses and selling
those properties. Those are the people that those houses are moving. Yeah,
because people just do not want to do the work
and they want something to move in ready, and maybe
they just don't have the extra funds to do the renovations.
And then obviously on a renovated house, they can get
(03:46):
their financing and they don't have to worry about other
additional out of pocket expenses.
Speaker 2 (03:50):
Yeah. I mean, you know in Birmingham, Jefferson County, Shelby County,
you know are areas around here. You know there's we
have Obviously, you know, certain people want to be in
certain areas, and so some areas you can go buy
a land and build, right, I mean, you can build
something from scratch, you don't have to do renovation. Some
have brand new subdivisions, it's all new construction. But some
people want to be in some of these communities that
are landlocked. There is no more dirt, so the only
(04:13):
option is to start to renovate and create houses that's correct,
that fit what people need at that moment. So to
your point, I mean, you know, I think it's I
think we're definitely seeing it. I know I personally had
more and more people want to get pre qualified, Some
want to do something as soon as they find something.
Some just kind of going ahead and building that plan
to come back and really start looking in January and
(04:35):
try to do something in the spring. But it's definitely
picking up. But it's funny you said that about fifteen
years ago, because when we get into a market update,
I've got some numbers that'll kind of go back to
some similarities between now and twenty twelve. There we go
of kind of going back to that zone of what
you're talking about. So it's funny you bring that up.
So tease that for the market up now.
Speaker 3 (04:53):
Yeah.
Speaker 1 (04:54):
Second, So yeah, and we'll do that in the second segment,
and I'll kind of give you an idea of where
we're at year to date and and how we're going
to finish the year. So but we've got we've got
some open houses this afternoon that I'd love to tell
you about, and so we'll get our game going. It's
the mortgage guessing, the mortgage payment game, and it'll be
(05:16):
myself against John Mounts and Brad. I guess tell the
rules to everybody, my friend.
Speaker 2 (05:21):
Yes, the rules, they're quite simple. Gus, he's going to
go through the listings in the open house that they've got.
He's going to go through some of the finer details,
but the end he's going to give us the most
important piece that I need in that is the list
price of the property, at which point I will give
a potential down payment that a baller may make if
they're a purchase in that home, and Gusty and John
Mounts will guess the monthly thirty year fixed principal interest
only payment.
Speaker 3 (05:40):
There we go.
Speaker 1 (05:41):
All right, We've got a new listing in the Bellevue
Heights neighborhood of Birmingham. Fourteen twelve forty second Street. This
one was built in nineteen thirty five. Nice little bungalow
that is three bedrooms, one and a half baths, fourteen
and forty eight square feet and we are asking one
(06:02):
hundred and twenty five thousand, one hundred and twenty five thousand,
and this listing is courtesy of Tony Big Daniels. So Tony,
congratulations on your new listing. And it's gonna be open
from two to four this afternoon.
Speaker 2 (06:17):
Nice, all right one twenty five five percent down, five
percent down.
Speaker 3 (06:22):
Gusty first, five percent down.
Speaker 4 (06:27):
I'm gonna go with seven fifty. About seven fifty.
Speaker 3 (06:41):
I feel like I feel like that's a little low.
I could be wrong. I feel like closer to eight
twenty five.
Speaker 2 (06:49):
Both great guesses, but the actual payment was seven hundred
and thirty one dollars. Gusting gets first one.
Speaker 1 (06:56):
Let's go. I can't have three weeks in a b
oh John, John. Technically you won last week because it
was a replace show.
Speaker 4 (07:03):
Oh well, would you look at that?
Speaker 3 (07:05):
Would you look at it? I chose to replay show
where you won.
Speaker 1 (07:09):
Oh okay, all right, well, well we know you had
to go back at least two weeks. I was gonna say, hey,
we've got our next new listing is in Penson. It's
also going to be opened this afternoon from two to four.
This one is three bedrooms, two baths, thirteen and twenty
one square feet uh two oh nine nine. This is
(07:29):
in the Whistling Pines neighborhood in the Clay area, so
it's a Clay Chalkville School district. And this sits on
point four to one of an acre so almost a
half acre built in nineteen eighty five. This one also
has an unfinished basement, so you can have as much
storage as you would like. And uh yeah, two O
nine to nine, two O nine nine.
Speaker 2 (07:51):
Two O nine nine, John, we're gonna put ten percent
down on this one, ten percent down two O nine nine, So.
Speaker 5 (07:59):
That's like twenty thousand dollars ish, so we're really financing
like one eighty five ishy n whatever. So I'm gonna say.
Speaker 3 (08:12):
Eleven hundred dollars. Okay. You said twenty percent down, ten
ten percent down, okay.
Speaker 5 (08:19):
But twenty so that'd be twenty thousand dollars because it's
a twenty thousand knock house. Yeah, that's what when you
kind of threw me off, I was giving numbers, just
you know, trying.
Speaker 2 (08:28):
Like JT doing math on air. Here, John gets that joke.
I get that joke.
Speaker 3 (08:36):
I'm gonna go with what did John say?
Speaker 2 (08:41):
Eleven hundred even.
Speaker 3 (08:43):
I'm gonna go with eleven fifty.
Speaker 2 (08:45):
Eleven fifty all right, Well the payment was actually eleven
sixty four. Hey right off at the knees, Hey taking
no prisoners.
Speaker 3 (08:57):
But my guess wasn't bad.
Speaker 2 (08:58):
Oh, he's a good guess. I'm saying, he you know,
he's not looking to lose again.
Speaker 4 (09:04):
Now I'm playing for them, baby, I'm dialed in.
Speaker 3 (09:07):
All right.
Speaker 1 (09:08):
Uh open this afternoon from two to four in Kolera
Emerald Ridge neighborhood. This was built in twenty ten. It's
four bedrooms, two baths located at eleven ninety four Emerald
Ridge Drive. Eleven ninety four Emerald Ridge Drive, four bedrooms,
two baths, two thousand and seventy six square feet with
the two car garage two eighty nine to nine, two
(09:31):
eighty nine to nine. This listing is courtesy of Kyle Bedgood.
A couple of notes on this one. It's got an
HVAC that was installed last year, a water heater back
in twenty twenty three, and a new double door refrigerator
also in twenty twenty three in Emerald Ridge Community.
Speaker 2 (09:51):
Two eighty nine to nine to eighty nine nine five percent.
Speaker 3 (09:55):
Down back on me, fac down.
Speaker 4 (10:02):
Okay, Umm, I'm gonna go with.
Speaker 3 (10:12):
What do I want to go with? What do I
want to go with? Is this gonna be right? Is
this gonna be It really doesn't matter if you already
won twice sixteen fifty we.
Speaker 2 (10:22):
Got five to day, sixteen fifty for Gusty let me
go fifteen hundred. Ooh, I was hoping you're gonna process riding,
but you did in sixteen ninety six. Now Augusty's gonna
go ahead and clean get the three of the five
out of the way.
Speaker 3 (10:40):
Oh yeah, all right.
Speaker 1 (10:43):
Our next new listing of the week is sits on
three point six acres in Adamsville fifty let's see, I
gotta get my glasses on, jeez, fifty three fifty three
Shady Crest Road. This was built in nineteen sixty nine,
four bedrooms, two baths, sixteen hundred and eight d square feet.
We are asking two hundred and thirty five thousand dollars
(11:04):
two thirty five three point six acres.
Speaker 3 (11:08):
How about that? Nice? Yeah?
Speaker 2 (11:10):
Three point six.
Speaker 3 (11:11):
Also another listening by Kyle D. Good.
Speaker 2 (11:13):
Kyle's on a roll this week. Kyle gets that let's go,
let's go two thirty five. Fifteen percent down, fifteen percent down. Yeah,
we had some numbers that were kind of close, so
we had to do some things with down payments.
Speaker 3 (11:28):
Oh that's a good point. That's a good point.
Speaker 5 (11:30):
So fifteen percent down on that, So you're putting down
like three thousand, financing two hundred thousand, So.
Speaker 3 (11:43):
I don't know.
Speaker 5 (11:43):
Thirty, Y're fixed. I'm just stalling for time here. Well, fifty,
I don't know what I'm doing.
Speaker 2 (11:55):
John, You've been pretty good all day, Gus, he's just
been a haircut better.
Speaker 3 (12:00):
I'm going to go with the.
Speaker 2 (12:05):
Twelve hundred twelve hundred. Oh wow, y'all really got it
middled here. The actual payment was twelve twenty nine. There
will be no clean sweep today, John gets around.
Speaker 5 (12:15):
Oh h.
Speaker 3 (12:17):
Missed by now?
Speaker 1 (12:19):
Just a hair you won by four dollars, just a
bit outside, all right. Our last new listing of the week,
This is man. Think about this building your we were
talking about building earlier. How about building a lake home
on Logan Martin Lake. We've got on Ansley Drive in
pel City on Logan Martin Lake, a one point three
(12:41):
eight acre lot with one hundred and twenty two feet
of water front or water frontage. We're asking three hundred
and fifty thousand for it. It is heavily wooded, so
you would have to, you know, do some dirt work.
And but I mean one hundred and twenty two feet
of waterfront access lake front with all the possibilities three
(13:06):
hundred and fifty thousand dollars.
Speaker 2 (13:07):
Yeah, that's a great deal and convenient from everybody around here.
That's awesome. All right, So three hundred and fifty thousand dollars, yeah,
five percent down. I did not realize this was a
lot when I did the scenario, or I would have
tweaked it up.
Speaker 3 (13:21):
Wait, let me ask you this. When you do on lots,
what do you typically have to put down?
Speaker 2 (13:25):
So if you if you take it down with the constructs,
say you get a construction loan, and that's part of it,
is the lot takedown. So then so let's just say
for and you can get it. It can be five
to ten percent of the total construction price. Okay, okay,
But if you just need to buy a lot loan
and you want to decide what you're gonna do later,
a lot of times you're going to be looking at
twenty to twenty five percent down, gotcha. And then and
(13:46):
then you're also looking at different terms. I mean, somebody
might do a two or three year balloon, but they
really want you to start building on as quick as possible,
so you may get like a twelve month note or something.
But then most we're gonna be ten or fifteen year amorizations.
So anyways, just to throw that out there, but this
one's five percent. This one's five percent down for the
game visioning. The house is already there for the game,
and it's three hundred fift thousand purse price. It's five
(14:07):
percent down, and we're still in a thirty year am
So that goes back to gus three fifty five percent fifty.
Speaker 3 (14:15):
All right, I'm gonna go nineteen twenty five, nineteen twenty five,
good year, good year.
Speaker 5 (14:30):
Uh, I'm gonna put myself closer to uh, modern times.
You gonna go nineteen seventy seven, also a good year.
Speaker 2 (14:40):
The actual payment was two thousand and forty seven, So
John gets the fifth one.
Speaker 1 (14:46):
Two man ended strong my picking of the year of
my birth. But it was a little late. It was
a little late. Little We've got a we've got a
couple of homes that are going to be coming soon.
We've got we've got a home in the Hoover area
in Lake Wilburn that's going to be coming up for
seven hundred and twenty five thousand. That's a five bedroom
and four bath. We've also got one coming up in
(15:07):
let's see, well, yeah, I know that we also have
one coming up in the balance Tray neighborhood. I don't
have the price right off the top of my head,
but I think it's in the right around the four
hundred range. So we've got a couple of homes that
are going to be coming down the pipeline, which is
really cool. And uh, hey, guess what time it is.
(15:29):
That's right, it's testimonial time.
Speaker 3 (15:33):
All right.
Speaker 1 (15:34):
This first one comes comes from Glinda and it's about
John riddle work and when John Riddle was the best
choice I've made in a long time. He went above
and beyond for me. I knew absolutely nothing about selling
my home, and he took me step by step through
the process, never minded when I called with what was
probably a foolish question, always pleasant, competent, and goal oriented.
(15:58):
It only took two days of open houses to sell,
and I got a very good price. He was there
for the closing, and honestly, if he hadn't helped me,
I don't know what I would have done. Thanks so
many blessings to all involved at the Gusty Goulis group.
So what a wonderful review. Thank you so much Glinda
for the opportunity to help sell your home. And then
John Riddle, congratulations on.
Speaker 3 (16:20):
Another five star review.
Speaker 1 (16:23):
And last but not least, this is for This is
from Becky. Working with the team was extremely beneficial for
our entire buying selling process. We were advised several times
on negotiation points that worked out extremely well in our
favor on both sides of the table, in our buying
process and in our selling process. That we're relatable, easy
(16:47):
to get in contact with, honest and knowledgeable. We could
not have asked for a better team. So Becky, thank
you so much for the opportunity to help sell and
buy your home, and for the team, congratulations on another
five star review.
Speaker 3 (17:03):
How about that? I like that. So that was testimonial
time today.
Speaker 1 (17:08):
And a couple more five star reviews look out, lookout,
and the.
Speaker 2 (17:13):
Next one be the next one.
Speaker 3 (17:15):
Yeah, all right, y'all stay tuned.
Speaker 1 (17:17):
We're gonna give a little bit of a market update
on mortgages on the real estate side right here on
Bob Bart and Saul. Y'all stay tuned. Welcome back to
Bob Bart and Saul. Thanks so much for joining us
each and every week. And you know, we've got been
having a lot going on in the mortgage in real
estate market Brad Smith with Cross Country Mortgage.
Speaker 3 (17:39):
Uh, what what.
Speaker 1 (17:40):
Have you been seeing on the old interest rates?
Speaker 2 (17:43):
Yeah, so so the so the interest rates have have
stayed pretty flat. We've had a little bit of improvement, so,
I mean, we were a little bit better than the
last time we were on air two weeks ago. And uh,
but a lot of that is because we're still kind
of there's a little more unknown on what's gonna happen
next week in the in the FED meeting, and so
(18:04):
it's not as as as cut and dry as Hey,
the they're going to cut it again for sure. I mean,
now the percentage is.
Speaker 3 (18:12):
Polymarket.
Speaker 2 (18:12):
Yeah, so it's like like ninety percent. But the market
hasn't really reacted to it yet because I think there's
still a couple of of of hawkish board members that
that are going to try to try to keep it
from happening. But you know, part of that is, like
we've said, because the government shutting dog. We've mentioned, you
know a lot of these numbers and stuff, we're trailing
and lagging and trying to figure stuff out. And then
also just the timing of it because we're you know,
(18:33):
there's so many seasonal things going on right now, especially
when when you're when your top two things that are
really driving the rates are what you're on your employment
status and unemployment numbers are, and then what inflation is. Well,
it's the most seasonal employment at this time of the
year because people are hiring up for Christmas and stocking
and people. People need more more folks working, but they're
not going to be permanently in the workforce, and so
(18:53):
that kind of helps kew some numbers. And then there's
you know, until we get the Christmas shopping numbers, we
don't really know what's going to do GDP and piece
in our PC numbers and core inflation numbers. So but
but I do think that when the government decides next
week and hope they do, to go ahead and drop
it that other quarter we talked about a month and
month and a half ago, that that that will be
(19:15):
the solidifying mark to help mortgage rates come back down.
We normally tell you it's already kind of built in.
We may start seeing that, but we really haven't seen
it built in yet like we have in previous months.
But you know, the one thing we're just real quick
I was gonna you know, you're talking about twenty twelve
and just kind of talking about the market and different things.
You know, right now, home prices, Uh So, the values
(19:40):
declined point two percent nationwide in October, just for the
month of October. So yes, which was in line with
some of the seasonally adjusted measures we've seen. Year over year,
home values are up one point one percent nationwide. That
figure has been the decelerating and is the slowest year
over year growth reported since twenty twelve. So I just,
(20:02):
I just I just mentioned that because you know, we
all these signs of un you know, employment is not
strong right now by the numbers, I mean that those
numbers keep showing they're not strong. Inflation is slowing. We've
got the proof in the putting there. Even with the tariffs,
the tariffs are not doing even to the extent, even
though it's going to be a one time hit, it's
(20:24):
still not as much as what they were originally predicting.
So with home prices slowing, job looking weaker, and inflation flattening,
there should be no debate in the room that the
rates need to be dropped to court at the twenty
five basis points at a minimum next week. And I
guarantee you there'll be one or two board members that
vote for fifty or seventy five just to be just
(20:46):
to be that guy and prove a point.
Speaker 3 (20:49):
You know, I'd love to see.
Speaker 1 (20:51):
I mean, I can tell you that since the government
shut down reopened, people have been more in tune. Like
I've got folks that want to try to get in
by the end of the year. I've got people that
are ready to you know, they're just waiting for the
right house. So and what will help them is if
rates come down a little bit more lower, then either
(21:15):
that allows them a more economical payment or they have
more buying power yep, and they're willing to spend a
little bit more money. So you know, it will absolutely
benefit well in the.
Speaker 2 (21:27):
Gusts in the real estate market well, because the goal
of that rate coming down is you're going to get
more people that have been on the fence to list
their homes. So now all of a sudden, you've got
you know, you've got more buyers and more inventory. It's
going to work itself out as far as how it appreciates.
But now all of a sudden, these people are going
to have a more inventory to look at because more
people are in the market and listing their homes and
finding the perfect house. So it's it's just it would
(21:49):
just do so much for everyone that needs to be
doing something to just get that little bit of relief. Again,
like we've talked about, if we could just get the
average thirty year fixed in, you know, even if it's
the upper fives, just to see it, I think, I
mean the mental and just kind of that that dopamine
effectacy in it and getting it back into that range
(22:10):
I think would definitely really hit that storm you've been
talking about.
Speaker 3 (22:14):
Yeah, for sure, for sure.
Speaker 1 (22:16):
Well I'll tell you what, I'm super excited about what
you know, the next year is going to look like
we are, Like I think within the next week we're
going to be officially over what we did last year
and are in terms of home soul not where we're
ahead of our pace. In terms of volume closed. I
(22:37):
think if everything closes in December, we're going to close
around thirty homes, which is a good month, and that's
for about I don't know, seven some odd million a
little bit higher. So you know, we're in in the
year strong and you know it's going to be interesting
to see. I mean just for me out showing houses.
(23:02):
I mean, I've got whether it's investors, I've got first
time home buyers, I've got second time home buyers. There's
a bunch of people that are out and about looking
for their perfect place. And so I think we're gearing
up for a really good year in twenty twenty six.
I think we're from an agent standpoint, I think we're
going to start seeing more agents continue to get out
(23:24):
of the business because it has become a lot more
difficult in my opinion, selling houses, and so the folks
that have come in thinking it's super easy are probably
going in and finding something else to do. And your
pros that you've been doing it for a while, you know,
they're just on cruise control making things happen. And I
(23:44):
was having a conversation with a guy. He's like, you know,
in every every market, you were surviving and thriving. And
I was like, man, that's a great compliment. I appreciate
that because we do see a lot in the real
estate world hi lows, and.
Speaker 3 (24:01):
We just keep on a truck and keep on a trucking.
Speaker 1 (24:04):
So Hey, if you've been listening and you like what
you're hearing and want to know your options about whether
buying or selling a house. We'd love to have a
conversation with you. You can go to Gustygoulisgroup dot com or
you can call or Tex two O five five four
two nineteen ninety six. And then if you want to
look at for a mortgage Bradsmith Loans dot com. So
thanks so much for joining us today. We'll catch you
(24:24):
next time.
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