Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome to balt Bart and Soul. Thanks so much for
joining us. And uh yeah, man, hey, Brad Smith hanging
out with us in the studio from Cross Country Mortgage.
What's that, Brad?
Speaker 2 (00:13):
That's me? I mean, I'm good. How are you? I'm good.
Speaker 1 (00:16):
I'm I'm just dandy. We're gonna be talking about we
got a couple of open houses today. We're gonna be,
you know, talking about the real estate market, the mortgage market.
And you know, I think it's gonna be a good
day to day. What do you think?
Speaker 2 (00:31):
A great day?
Speaker 1 (00:32):
All right? All right, Tony the Tiger of great No,
that wasn't That wasn't. Hey. So I want to give
some shout outs. I don't remember if I did this
last week or not, but I want to give a
shout out to Chasin Heberling first deal under contract. I
may have done it, but it deserves two weeks in
(00:55):
a row.
Speaker 3 (00:55):
If I did, yeah, I think we mentioned it, but
I think it was still like not, you know, we
didn't work.
Speaker 1 (01:00):
First contract on the real estate team Chasing Heberling. So
I just wanted to send out a special congratulations to
you and uh and then also I want to shout
out Kyle Bedgod, dude's got like eight homes in our contract.
Like he's on a roll the hammer. I'm like, let's go.
Uh So, you know that kind of gives you a
(01:20):
little bit of insights on what we'll talk about in
the next segment, being the real estate market, yeah and
all that fun stuff. But you know it's uh, we're right.
You know, I'm gonna talk about the calm before the storm. Yeah,
later later on. So I'm just gonna tease that good calm,
good before the storm. How about that.
Speaker 3 (01:40):
I'm glad you have that because there's not as much
mortgage updates this week it was last week, so I
don't I don't have near as much that I need
to be.
Speaker 1 (01:48):
Just calm before the storm.
Speaker 2 (01:50):
Let's do it.
Speaker 1 (01:51):
And uh so we'll talk about that in our next segment.
But you know, we got some we got some open
houses that we need to talk about. So let's let's
play the game and uh let's give the rules out
to our listeners.
Speaker 2 (02:02):
Yeah.
Speaker 3 (02:02):
So Gus he's going to go through the properties they've
got today and then he's going to go through some
of the fine details of the property. At the end,
he's gonna give us the list price, and then I
will give a potential down payment that a borrower may
make on that property, and Gusty and John Mounts will
take their best chance at guessing the thirty year fixed
monthly payment Princeville interest only.
Speaker 2 (02:22):
I'm trying to factor anyes question.
Speaker 1 (02:23):
Yeah, all right, So our first new listing of the
week happens to be one of my flips. Been working
on this one for a while, Very excited at this
how this home turned out. This is in Hoover to
eighty nine Laredo Drive. This is actually in the country
Club Highlands neighborhood right there, right off of Hoover country Club. Now,
(02:49):
I want you to think about like what you typically
see in a renovation of a home in like Vestavia
or Mountain Brook, and that's really what we brought to
this house on Laredo. We came in, we ripped up
all the flooring. We put in new hardwood floors on
the main level. In the upstairs, we put in new tile,
basically this marble, career marble looking just absolutely gorgeous tile.
(03:14):
In the bathrooms, We've got four bedrooms in three and
a half baths. We've got a two car garage, and
then in one of the bays, like literally you could
probably stack two or three cars. You could stack a
boat in there, you could stack an ATV, your four wheeler,
whatever you want to do. Like the whole like one
(03:36):
bay of the whole house is wide open. That's cool,
ready for you. We've got two brand new hvacs. The
roof is like twenty twenty two. Got a brand new
water heater in here. We completely changed the kitchen and
so we've got custom cabinets, we've got stainless appliances. We've
got this leathered quartz that is gorgeous. We've got a
(04:01):
whole and actual we changed the floor plan on the
main level and made it a an actual primary bath
on the main level with also we added a half bath.
So we've actually got two primary suites on this house.
That's one on the main level, one upstairs. So if
you've got like a teenager, you've got a parent, you
(04:23):
could have them upstairs. But this is really one of
this is actually probably one of my favorite houses we've
ever flipped. And brand new deck as well, new paint
on the interior, the X tier, new new flagstone patio
on the stoop, this beautiful flagstone brand new door, like
(04:43):
I mean, we would we went to the nines on this.
Speaker 3 (04:45):
I' about say that's that's that's a lot and that's
that's pretty cool.
Speaker 2 (04:48):
Yeah.
Speaker 1 (04:49):
Yeah. So anyways, twenty six and seventeen square feet on
the main two levels, another four hundred and thirty nine
square feet in the finished downstairs base meant den daylight
den by the way. Yeah, and Isaac Marvin's got this
one listed for us. So uh and we're priced it
(05:09):
below a praise value.
Speaker 3 (05:11):
Nice, Okay, so this is a big win. That's a
big win. Five ninety nine nine, five nine, five percent down,
five percent down, gusty, you get to go.
Speaker 1 (05:22):
First, Okay, five percent down on five ninety nine. I
believe that is gonna put us around. Hmmm. I'm gonna
go with I don't know, let me go with thirty
(05:45):
six oh one, just because I wanted to make it
complicated for Brad.
Speaker 4 (05:53):
I'll go I'll go a little bit lower. I'm gonna
go thirty two hundred.
Speaker 2 (06:00):
Okay, I'd call that a lot lower.
Speaker 5 (06:02):
Okay, I'm gonna go a lot longer, a lot lower, more.
Speaker 2 (06:04):
More than ten percent. To me, he's a lot lower.
Speaker 5 (06:07):
Okay, Okay, I'm going to go thirty four hundred.
Speaker 3 (06:09):
It doesn't really matter the actual payment, just three thousand,
six hundred and three dollars. Yeah, holy cow. It was
actually like, is that like thirty six two seventy four
and I rounded up?
Speaker 1 (06:25):
Holy But that's.
Speaker 5 (06:27):
How I was sitting over going like it's like gust
he works in this business.
Speaker 2 (06:30):
I was like, I was like, he didn't make that
more difficult for me at all. Two dollars.
Speaker 1 (06:34):
Yeah, all right, Well there you go. I'm I'm your guy.
I'm your guy. You know, I'm just making up.
Speaker 2 (06:40):
For like I think it's his flip. He's run every scenario.
Speaker 5 (06:42):
I was going to say, I think he's probably number kidd.
Speaker 2 (06:45):
I'm really having I'm kidding.
Speaker 1 (06:48):
I'm really just making up for a couple of weeks
ago when John beat me two weeks in a row.
Speaker 2 (06:51):
He did. I've got a sheet right here, it's official.
Speaker 1 (06:53):
All right, we've got open this afternoon. By the way,
that one is open two to four, so go see
Isaac two eighty nine Larraed Drive. We also have a
couple more open houses we've got in Homewood sixteen oh
four forest Ridge Road. This one is a three bedroom,
two bath. This one is a split level rancher. It
(07:17):
also has a pool, two car garage. It's fifteen hundred
and thirty five square feet on the main levels, another
three hundred and twenty six square feet finished in the basement.
It's over in the Forest Brook community and we're only
asking four hundred and thirty five thousand for this house.
I think being in Homewood with a pool, I mean,
that's pretty sweet. Go see TJ. Cunningham this afternoon from
(07:39):
two to four.
Speaker 2 (07:40):
Two to four, four to thirty five.
Speaker 3 (07:42):
Ten percent down, ten percent down, ten percent down, ten
percent down to mister Mounts.
Speaker 5 (07:48):
Okay, I'm gonna go with how about uh, I don't
know twenty eight hundred.
Speaker 1 (07:56):
You said ten percent down.
Speaker 6 (07:58):
H I'm gonna go with.
Speaker 1 (08:12):
Twenty six oh one.
Speaker 3 (08:14):
Twenty six oh one. It was actually two thousand, four
hundred and seventy.
Speaker 1 (08:18):
There we go.
Speaker 5 (08:18):
Man, we were off, but I was off by more.
Speaker 1 (08:23):
But you define off by more, all right. And also
open this afternoon from two to four to see Carlo
Dilaberto at three thousand and five Overlook Lane. This is
the mansion in Fulton Dell, sitting on three point three
acres eight thousand, eight hundred and sixty four square feet.
(08:43):
Yeah cool, I said, eight thousand, eight hundred and sixty
four square feet, five bedrooms, six and a half bass.
This was built in two thousand and eight. It is
in the Chapel Hills neighborhood. It sits on three lots.
It's got an incredible pool, it's got an uh eight
car garage.
Speaker 5 (09:02):
I mean, who's counting this?
Speaker 2 (09:04):
Listen. You can make this a compound.
Speaker 1 (09:06):
I mean you really could.
Speaker 3 (09:08):
I mean, I mean you've got all kinds of options
where families can live there.
Speaker 1 (09:14):
One point four million, one point four million, and uh,
I mean you could not build this house for that
for this price, which is which is wild. So, and
it's got this like this, it's got let's see one
two three, it's got six columns in the front. So
it's got this like old it's like brick rancher meets
(09:34):
colonial style. It's freaking gorgeous.
Speaker 2 (09:38):
Yeah.
Speaker 3 (09:38):
I've gone a lot a couple of times and looked
at that one. Just look at the pictures again, and
it is really cool. Yeah, cool property.
Speaker 1 (09:44):
All right, So one point four million.
Speaker 3 (09:46):
One point four million, Yeah, putting twenty percent down, Okay,
twenty percent down on one point four million dollars.
Speaker 1 (09:57):
One million dollars.
Speaker 5 (09:59):
Where's doctor Eve when you need them?
Speaker 2 (10:00):
Yeah?
Speaker 1 (10:01):
Ummm, you said twenty percent down, twenty percent down.
Speaker 3 (10:06):
Okay, I'm gonna go with bite my lip on my joke,
coming back to mister evil doctor Evils. I'm gonna go
seven thousand, seven thousand dollars for Gusty.
Speaker 4 (10:26):
Let's see, so, even twenty percent down, you're still financing
over a million dollars.
Speaker 2 (10:30):
You're financing over a million dollars.
Speaker 4 (10:33):
Uh, I don't know seventy five hundred.
Speaker 5 (10:37):
I have nothing to base.
Speaker 3 (10:38):
That on seventy five hundred. Let's do some quick computing,
all right. The actual payment was seven thousand, two hundred
and sixty four dollars. John keeps it from a.
Speaker 1 (10:50):
Barely barely How did I do that?
Speaker 5 (10:53):
About fifteen dollars?
Speaker 1 (10:54):
Man? Look out, well, at.
Speaker 3 (10:57):
Least all got the guy that had like dead in
the middle where it was pretty easy.
Speaker 4 (11:00):
What I did was I based it on like a
house that was like one hundred thousand dollars and then
slid the place over by one.
Speaker 1 (11:06):
That's pretty smart, actually, you know, very good, very good,
solid solid. All right, Hey, we've got some VIP buyer needs.
We've been talking about a couple of these folks for
a little bit, so that means you need to listen
extra carefully. Right here, we are looking for a home
in Bluff Park that needs a little bit of work.
They want a nice lot and they are willing to
(11:28):
do renovations on it, and they are willing to pay
up to four hundred and twenty five thousand and then
spend money on a renovation.
Speaker 2 (11:34):
So nice.
Speaker 1 (11:36):
That is one that we're looking for pretty heavily. If
you've got somebody, if you've got a house that matches that,
or know of somebody that might be interested in selling,
gustygoulesgroup dot com, or you can call or text two
oh five five four to two nineteen ninety six. We've
also got somebody that's looking for a single story home
with a pool in Shelby County. They have increased their
(11:58):
price range up to five hundred that so it was
four twenty five, went to four fifty. Now we're at
five hundred. So we are looking for a single story
with a pool in Shelby County. We've also got somebody
that's looking in Hoover. They are looking in the Lakeview
or Oakwood neighborhood Lakeview, is that one that's across from
(12:21):
uh like that that Walmart over there, that's and that
there's a couple of the car places and so they're
looking for something with main level living in up to
four hundred thousand. So those are some of our the
hottest fires. I do have a couple of folks that
are coming in town. We've got folks that are looking
in Edgewood. But I mean, ultimately, what I would tell
(12:44):
you is, if you're listening and you're considering selling, just
call our team two five five four two nineteen ninety
six or go to Gustygulisgroup dot com. We may be
able to help put a deal together, you know, off
market or even on market. I mean, you know, you
never know in a role. So anyways, that's our vip by,
our news buy our needs. But hey, guess what time
(13:05):
it is. That's right, it's testimonial time.
Speaker 2 (13:11):
Man.
Speaker 1 (13:12):
That's that was like loud. That was real loud, and
I liked it. He wait, hey enthusiastic early on in
the morning. Hey, you gotta you gotta be like the
coffee's kicking, You're ready to rock.
Speaker 2 (13:25):
Got that little little extra.
Speaker 1 (13:28):
All right? So this one, Uh says working with Alita
has been a fantastic experience. She is incredibly knowledgeable, a tentative,
and dedicated to finding the perfect property. Alita's professionalism and
commitment made the entire process smooth and stress free, and
I continue to work with her today for our real
estate needs. I highly recommend Alita to anyone looking to
(13:49):
buy or sell with confidence and ease. So UH, thank
you so much for the opportunity to help you find
your perfect place. And congratulations to Alita on another five
star review. And last, but not least today is this
one goes out to Riley. Going through my home buying process,
(14:10):
I used a number of real estate agents. However, Riley
would stood out above all of the others due to
his high level of responsiveness, updates and check ins. He
had great advice and counsel along the way, and if
I had to purchase another home or sell my current one,
I would use him again. So congratulations on your new
(14:31):
home and congratulations to Riley.
Speaker 3 (14:33):
On another five star reviews.
Speaker 1 (14:38):
There it is the reviews this week. Man. If you
would like to be the next five star review, you
know where to go. Gusigilisgroup dot com, but Hey, stay tuned.
We're going to talk about what we're seeing in the
mortgage market, the real estate market, the calm before the
storm right here on Barred and Sold, all right, welcome
(15:01):
back to Bob Bard and Sold. And you know I'm
calling I'm calling the next six months the calm before
the storm. Okay, Brad, I see it, calm before the storm.
And here's why. You know, we've we've talked about for
for months trying to get these interest rates down, and
(15:23):
finally they've been kind of moving down. We've got the
federal funds rate, which doesn't directly impact the mortgage rates,
but I would say it indirectly impacts the mortgage rates well.
Speaker 3 (15:34):
And again we know it's indirect because you know, again
we get the benefits for it before it's announced once
once the kind of the that's where the odds are going.
So so so we're kind of we're we're getting the effects,
but it's not a direct Hey, we're dropping this rate
of quarter, so everything drops a quarter like so so
that's the part I think is the confusing part for
some people, Like, yeah, it affects it, but it's not
like you don't hear the announcement and start calling saying
(15:56):
a mortgage ate a quarter percent lower.
Speaker 1 (15:58):
No, not exactly, so the big thing in my opinion.
So I was talking to a commercial real estate agent
buddy of mine and he's like, dude, he goes, man,
my phone has been ringing off the hook. People are like,
they're they're looking at making deals. He's like, I'm going
out of town to do some site selections. He's like,
(16:20):
he's amped up, and I'm like, so that that gets
me amped up. I'm like, let's go.
Speaker 2 (16:24):
Yeah.
Speaker 1 (16:24):
And then I'm talking to another friend of mine that
is basically the head credit risk officer for a bank,
and he's predicting one more rate cut this year and
four rate cuts next year. And you know, if we're looking,
so let's say hypothetically that's accurate. M hm okay, So
(16:49):
I'm gonna guess that's five rate cuts. I'm gonna guess
each rate cut is probably a quarter percent, so that's
probably one point two five on a rate cut over
the next We'll say, you know year and you know,
five quarters. And so what that will do is it
(17:11):
should take our interest rates down to mid to low fives.
Should So all right, we're talking hypothetically, and i'd love
your feedback when we get you know, in a minute.
So the call before the storm. So imagine like right
now is typically the time that you know, the people
(17:31):
that are buying, there's got to be a pretty big
need for them to buy. This is not our typical
selling season. We still I mean, like we're all, I mean,
we're selling.
Speaker 2 (17:40):
You know, the.
Speaker 1 (17:41):
Market's always moving, thirty homes a month, We're we're always moving.
But right now, like selling season to me in our
market is March through July.
Speaker 2 (17:52):
Correct.
Speaker 1 (17:52):
Okay, So what I think the next six months is
this is the perfect opportunity if you are a home
buyer to get into a house with probably no multiple offers.
There might be some houses that have multiple offers, but
probably less multiple offer competition, just less competition period. But
(18:17):
if you're a buyer, you've got a little bit more
negotiating room. You've got the ability to maybe negotiate some concessions,
whether that's the closing cost assistance, maybe that's a buy
down for a rate, maybe that's to negotiate price, who
knows what. But I think in the next six months
is going to be the great opportunity to do that.
(18:38):
But when it in that six months when when March
rolls around, I'm thinking multiple offer situations, less negotiation. I mean,
you're gonna have to figure out how to get a
deal done because rates I think will be in we'll
say six low and probably high fives at that point. Well,
(19:01):
I mean that's gonna get people in the market. And
I really do think this is my opinion. I think
a mid five is a perfect market from an interest
rate standpoint one hundred percent.
Speaker 3 (19:12):
I mean, that's that's really the goal. And that's what
I've been saying this whole time, Like mid fives. You know,
if it teeters a little bit of a blow five
and a half or a little bit above five and
a half, like that's a pretty balanced market. And so
that means and for that to happen, that means employment steady.
Not it's not we're not having big issues there, but
there's you know, we're gonna have We're getting a little
bit on that, but not anything crazy. Still unemployments still
(19:34):
low historically, but it's creeping up and then starting to
see the inflation numbers really coming down where they want
them to and kind of slowing at the pace that
they're they're wanting it slow down to and I think
we're gonna get that, and so it's a lot with them.
Continue to lower rates if that's what they do, because
these other things are cooperating. To your point, I'm with you,
(19:54):
like it's already gonna be atle bit slow. It's we're
kind of getting that slower down season and rates coming down.
You know, what we're seeing is from year over year,
we'll be up from where were last year, but it's
not that big, you know, ready to roll and so on.
If we can get at the end of the year
be right at five you know, five point nine nine
or right you know, teetering there, and in January we
(20:15):
start seeing five point seventy five or five point six
two five or whatever. We're lucky to get there, and
then the buyer season hits in March. Like you were
talking in a rate sort of that's sitting there in
the upper fives, mid fives. Hold onto your hats, here
we go.
Speaker 1 (20:29):
I mean, we'll see some price appreciation, you know, so
the negotiations is going to be, you know, come few
and far between.
Speaker 3 (20:37):
Well, I'd also say, if that's something that you've like
you've been thinking about for a year, year two years
and kind of waiting to see like you didn't have
to do anything, but you know you kind of need
to do something like and you're in a house now
or night in the house. But if you are in
a house now, like going to be thinking about like
go in and start talking to the ghost of Google's group,
start getting a plan of what you're going to need
to do to get your house listed and ready for
that season, so that when we get the rates there
(20:59):
and you're ready, you see something you want and you
want to jump on.
Speaker 2 (21:02):
You need to sell your house.
Speaker 3 (21:03):
You need to go have that plan going, so like
there's you need to be reaching out and start setting
that plan up because it's gonna happen. It's gonna happen fast,
it will. And I was, I say, I think it's
gonna happen.
Speaker 1 (21:14):
Yeah, I was at the gym this week and uh
there somebody was talking about, you know, potentially getting into
a vacation home, but they want to wait till the
rates go down. And I was like, dude, why are
you waiting? Like you've got less competition right now, Like
go ahead and jump in, go ahead and get that
get the house while you've got the negotiating ability, and
(21:34):
then next year when it's a point less on the
interest rate, then you will be financed.
Speaker 3 (21:40):
That that that is that is the like the little
thing that just kind of like it always gets me.
And I'm not saying it's always a one for one there,
but like let's just use like let's just say it's
a I'm not using this.
Speaker 2 (21:50):
Person, but let's just use random numbers.
Speaker 3 (21:52):
You know, let's say right now, you can get the
lake house you want for nine hundred thousand dollars in
the rate six six point three seventy five. And I'm
just making up something on the writ. Okay, we get
to March next year and it's getting the late season
and the rates aret five and a half. That house
is not gonna be nine hundred thousand anymore. That house
is going to be one point one, one point two
one point twenty five. So you were worried about half
(22:14):
percent rate, but we're okay paying three hundred thousand dollars more.
Speaker 2 (22:16):
For a house.
Speaker 1 (22:17):
It's a heck of a difference.
Speaker 3 (22:18):
I mean, like that's that's that's the thing to me,
Like we're so worried about that number that we can
put on our pillow at night and we're missing we
can't see the forest of the trees.
Speaker 1 (22:27):
I mean we're like my three point six two five.
Oh yeah, I like it.
Speaker 5 (22:31):
Listen, it's awesome.
Speaker 1 (22:33):
But having the right houses, yeah.
Speaker 3 (22:36):
Yeah, and and and over the long term, orre you
getting the best deal for it? Because again, let's just
make up. Let's say you have to pay another seven
thousand dollars and closing cost of refi if you got
the house cheaper and you were gonna get it by waiting.
Speaker 1 (22:48):
What's the matter when people refinance? What is is there
any kind of rule of thumb, like they need to
have the uh interest rate a certain level lesson.
Speaker 3 (22:59):
All case by case. And a lot of that goes
back to like what kind of loan are you in currently?
How long do you plan on being in there? You know,
is are you gonna are you thinking like you're gonna
be out of it in five years? Okay, then we
probably need to make sure. I mean again, like we'll
say it needs to be one percent reduction if you're
gonna be there for the next ten or fifteen years.
Like if it's a half percent, I mean it's worth
doing it. So I mean, so it's everybody's case by case,
(23:20):
and people have different needs to peel.
Speaker 2 (23:22):
Houses are worth.
Speaker 3 (23:23):
More than ever when anybody bottom right now, so people
can get cash out and pay off higher revolving debts.
So anyways, there's all kinds of options, but it's it's
it's gonna be interesting to see how it all unfolds.
Speaker 1 (23:32):
We're there though, case by case, and if you're trying
to figure it out for yourself, call it a Gustygulis
Group Gustygoulisgroup dot com two of five five four two
nineteen ninety six called text that number and we can
build that planning for you with you and then also
get pre qualified for a mortgage. Go to Bradsmith Loans
dot com. That's me and uh get that process started too.
(23:57):
So well, thank you so much for joining us. The
calm before the storm. There we go, all right, catch
you next time
Welcome to balt Bart and Soul. Thanks so much for
joining us. And uh yeah, man, hey, Brad Smith hanging
out with us in the studio from Cross Country Mortgage.
What's that, Brad?
Speaker 2 (00:13):
That's me? I mean, I'm good. How are you? I'm good.
Speaker 1 (00:16):
I'm I'm just dandy. We're gonna be talking about we
got a couple of open houses today. We're gonna be,
you know, talking about the real estate market, the mortgage market.
And you know, I think it's gonna be a good
day to day. What do you think?
Speaker 2 (00:31):
A great day?
Speaker 1 (00:32):
All right? All right, Tony the Tiger of great No,
that wasn't That wasn't. Hey. So I want to give
some shout outs. I don't remember if I did this
last week or not, but I want to give a
shout out to Chasin Heberling first deal under contract. I
may have done it, but it deserves two weeks in
(00:55):
a row.
Speaker 3 (00:55):
If I did, yeah, I think we mentioned it, but
I think it was still like not, you know, we
didn't work.
Speaker 1 (01:00):
First contract on the real estate team Chasing Heberling. So
I just wanted to send out a special congratulations to
you and uh and then also I want to shout
out Kyle Bedgod, dude's got like eight homes in our contract.
Like he's on a roll the hammer. I'm like, let's go.
Uh So, you know that kind of gives you a
(01:20):
little bit of insights on what we'll talk about in
the next segment, being the real estate market, yeah and
all that fun stuff. But you know it's uh, we're right.
You know, I'm gonna talk about the calm before the storm. Yeah,
later later on. So I'm just gonna tease that good calm,
good before the storm. How about that.
Speaker 3 (01:40):
I'm glad you have that because there's not as much
mortgage updates this week it was last week, so I
don't I don't have near as much that I need
to be.
Speaker 1 (01:48):
Just calm before the storm.
Speaker 2 (01:50):
Let's do it.
Speaker 1 (01:51):
And uh so we'll talk about that in our next segment.
But you know, we got some we got some open
houses that we need to talk about. So let's let's
play the game and uh let's give the rules out
to our listeners.
Speaker 2 (02:02):
Yeah.
Speaker 3 (02:02):
So Gus he's going to go through the properties they've
got today and then he's going to go through some
of the fine details of the property. At the end,
he's gonna give us the list price, and then I
will give a potential down payment that a borrower may
make on that property, and Gusty and John Mounts will
take their best chance at guessing the thirty year fixed
monthly payment Princeville interest only.
Speaker 2 (02:22):
I'm trying to factor anyes question.
Speaker 1 (02:23):
Yeah, all right, So our first new listing of the
week happens to be one of my flips. Been working
on this one for a while, Very excited at this
how this home turned out. This is in Hoover to
eighty nine Laredo Drive. This is actually in the country
Club Highlands neighborhood right there, right off of Hoover country Club. Now,
(02:49):
I want you to think about like what you typically
see in a renovation of a home in like Vestavia
or Mountain Brook, and that's really what we brought to
this house on Laredo. We came in, we ripped up
all the flooring. We put in new hardwood floors on
the main level. In the upstairs, we put in new tile,
basically this marble, career marble looking just absolutely gorgeous tile.
(03:14):
In the bathrooms, We've got four bedrooms in three and
a half baths. We've got a two car garage, and
then in one of the bays, like literally you could
probably stack two or three cars. You could stack a
boat in there, you could stack an ATV, your four wheeler,
whatever you want to do. Like the whole like one
(03:36):
bay of the whole house is wide open. That's cool,
ready for you. We've got two brand new hvacs. The
roof is like twenty twenty two. Got a brand new
water heater in here. We completely changed the kitchen and
so we've got custom cabinets, we've got stainless appliances. We've
got this leathered quartz that is gorgeous. We've got a
(04:01):
whole and actual we changed the floor plan on the
main level and made it a an actual primary bath
on the main level with also we added a half bath.
So we've actually got two primary suites on this house.
That's one on the main level, one upstairs. So if
you've got like a teenager, you've got a parent, you
(04:23):
could have them upstairs. But this is really one of
this is actually probably one of my favorite houses we've
ever flipped. And brand new deck as well, new paint
on the interior, the X tier, new new flagstone patio
on the stoop, this beautiful flagstone brand new door, like
(04:43):
I mean, we would we went to the nines on this.
Speaker 3 (04:45):
I' about say that's that's that's a lot and that's
that's pretty cool.
Speaker 2 (04:48):
Yeah.
Speaker 1 (04:49):
Yeah. So anyways, twenty six and seventeen square feet on
the main two levels, another four hundred and thirty nine
square feet in the finished downstairs base meant den daylight
den by the way. Yeah, and Isaac Marvin's got this
one listed for us. So uh and we're priced it
(05:09):
below a praise value.
Speaker 3 (05:11):
Nice, Okay, so this is a big win. That's a
big win. Five ninety nine nine, five nine, five percent down,
five percent down, gusty, you get to go.
Speaker 1 (05:22):
First, Okay, five percent down on five ninety nine. I
believe that is gonna put us around. Hmmm. I'm gonna
go with I don't know, let me go with thirty
(05:45):
six oh one, just because I wanted to make it
complicated for Brad.
Speaker 4 (05:53):
I'll go I'll go a little bit lower. I'm gonna
go thirty two hundred.
Speaker 2 (06:00):
Okay, I'd call that a lot lower.
Speaker 5 (06:02):
Okay, I'm gonna go a lot longer, a lot lower, more.
Speaker 2 (06:04):
More than ten percent. To me, he's a lot lower.
Speaker 5 (06:07):
Okay, Okay, I'm going to go thirty four hundred.
Speaker 3 (06:09):
It doesn't really matter the actual payment, just three thousand,
six hundred and three dollars. Yeah, holy cow. It was
actually like, is that like thirty six two seventy four
and I rounded up?
Speaker 1 (06:25):
Holy But that's.
Speaker 5 (06:27):
How I was sitting over going like it's like gust
he works in this business.
Speaker 2 (06:30):
I was like, I was like, he didn't make that
more difficult for me at all. Two dollars.
Speaker 1 (06:34):
Yeah, all right, Well there you go. I'm I'm your guy.
I'm your guy. You know, I'm just making up.
Speaker 2 (06:40):
For like I think it's his flip. He's run every scenario.
Speaker 5 (06:42):
I was going to say, I think he's probably number kidd.
Speaker 2 (06:45):
I'm really having I'm kidding.
Speaker 1 (06:48):
I'm really just making up for a couple of weeks
ago when John beat me two weeks in a row.
Speaker 2 (06:51):
He did. I've got a sheet right here, it's official.
Speaker 1 (06:53):
All right, we've got open this afternoon. By the way,
that one is open two to four, so go see
Isaac two eighty nine Larraed Drive. We also have a
couple more open houses we've got in Homewood sixteen oh
four forest Ridge Road. This one is a three bedroom,
two bath. This one is a split level rancher. It
(07:17):
also has a pool, two car garage. It's fifteen hundred
and thirty five square feet on the main levels, another
three hundred and twenty six square feet finished in the basement.
It's over in the Forest Brook community and we're only
asking four hundred and thirty five thousand for this house.
I think being in Homewood with a pool, I mean,
that's pretty sweet. Go see TJ. Cunningham this afternoon from
(07:39):
two to four.
Speaker 2 (07:40):
Two to four, four to thirty five.
Speaker 3 (07:42):
Ten percent down, ten percent down, ten percent down, ten
percent down to mister Mounts.
Speaker 5 (07:48):
Okay, I'm gonna go with how about uh, I don't
know twenty eight hundred.
Speaker 1 (07:56):
You said ten percent down.
Speaker 6 (07:58):
H I'm gonna go with.
Speaker 1 (08:12):
Twenty six oh one.
Speaker 3 (08:14):
Twenty six oh one. It was actually two thousand, four
hundred and seventy.
Speaker 1 (08:18):
There we go.
Speaker 5 (08:18):
Man, we were off, but I was off by more.
Speaker 1 (08:23):
But you define off by more, all right. And also
open this afternoon from two to four to see Carlo
Dilaberto at three thousand and five Overlook Lane. This is
the mansion in Fulton Dell, sitting on three point three
acres eight thousand, eight hundred and sixty four square feet.
(08:43):
Yeah cool, I said, eight thousand, eight hundred and sixty
four square feet, five bedrooms, six and a half bass.
This was built in two thousand and eight. It is
in the Chapel Hills neighborhood. It sits on three lots.
It's got an incredible pool, it's got an uh eight
car garage.
Speaker 5 (09:02):
I mean, who's counting this?
Speaker 2 (09:04):
Listen. You can make this a compound.
Speaker 1 (09:06):
I mean you really could.
Speaker 3 (09:08):
I mean, I mean you've got all kinds of options
where families can live there.
Speaker 1 (09:14):
One point four million, one point four million, and uh,
I mean you could not build this house for that
for this price, which is which is wild. So, and
it's got this like this, it's got let's see one
two three, it's got six columns in the front. So
it's got this like old it's like brick rancher meets
(09:34):
colonial style. It's freaking gorgeous.
Speaker 2 (09:38):
Yeah.
Speaker 3 (09:38):
I've gone a lot a couple of times and looked
at that one. Just look at the pictures again, and
it is really cool. Yeah, cool property.
Speaker 1 (09:44):
All right, So one point four million.
Speaker 3 (09:46):
One point four million, Yeah, putting twenty percent down, Okay,
twenty percent down on one point four million dollars.
Speaker 1 (09:57):
One million dollars.
Speaker 5 (09:59):
Where's doctor Eve when you need them?
Speaker 2 (10:00):
Yeah?
Speaker 1 (10:01):
Ummm, you said twenty percent down, twenty percent down.
Speaker 3 (10:06):
Okay, I'm gonna go with bite my lip on my joke,
coming back to mister evil doctor Evils. I'm gonna go
seven thousand, seven thousand dollars for Gusty.
Speaker 4 (10:26):
Let's see, so, even twenty percent down, you're still financing
over a million dollars.
Speaker 2 (10:30):
You're financing over a million dollars.
Speaker 4 (10:33):
Uh, I don't know seventy five hundred.
Speaker 5 (10:37):
I have nothing to base.
Speaker 3 (10:38):
That on seventy five hundred. Let's do some quick computing,
all right. The actual payment was seven thousand, two hundred
and sixty four dollars. John keeps it from a.
Speaker 1 (10:50):
Barely barely How did I do that?
Speaker 5 (10:53):
About fifteen dollars?
Speaker 1 (10:54):
Man? Look out, well, at.
Speaker 3 (10:57):
Least all got the guy that had like dead in
the middle where it was pretty easy.
Speaker 4 (11:00):
What I did was I based it on like a
house that was like one hundred thousand dollars and then
slid the place over by one.
Speaker 1 (11:06):
That's pretty smart, actually, you know, very good, very good,
solid solid. All right, Hey, we've got some VIP buyer needs.
We've been talking about a couple of these folks for
a little bit, so that means you need to listen
extra carefully. Right here, we are looking for a home
in Bluff Park that needs a little bit of work.
They want a nice lot and they are willing to
(11:28):
do renovations on it, and they are willing to pay
up to four hundred and twenty five thousand and then
spend money on a renovation.
Speaker 2 (11:34):
So nice.
Speaker 1 (11:36):
That is one that we're looking for pretty heavily. If
you've got somebody, if you've got a house that matches that,
or know of somebody that might be interested in selling,
gustygoulesgroup dot com, or you can call or text two
oh five five four to two nineteen ninety six. We've
also got somebody that's looking for a single story home
with a pool in Shelby County. They have increased their
(11:58):
price range up to five hundred that so it was
four twenty five, went to four fifty. Now we're at
five hundred. So we are looking for a single story
with a pool in Shelby County. We've also got somebody
that's looking in Hoover. They are looking in the Lakeview
or Oakwood neighborhood Lakeview, is that one that's across from
(12:21):
uh like that that Walmart over there, that's and that
there's a couple of the car places and so they're
looking for something with main level living in up to
four hundred thousand. So those are some of our the
hottest fires. I do have a couple of folks that
are coming in town. We've got folks that are looking
in Edgewood. But I mean, ultimately, what I would tell
(12:44):
you is, if you're listening and you're considering selling, just
call our team two five five four two nineteen ninety
six or go to Gustygulisgroup dot com. We may be
able to help put a deal together, you know, off
market or even on market. I mean, you know, you
never know in a role. So anyways, that's our vip by,
our news buy our needs. But hey, guess what time
(13:05):
it is. That's right, it's testimonial time.
Speaker 2 (13:11):
Man.
Speaker 1 (13:12):
That's that was like loud. That was real loud, and
I liked it. He wait, hey enthusiastic early on in
the morning. Hey, you gotta you gotta be like the
coffee's kicking, You're ready to rock.
Speaker 2 (13:25):
Got that little little extra.
Speaker 1 (13:28):
All right? So this one, Uh says working with Alita
has been a fantastic experience. She is incredibly knowledgeable, a tentative,
and dedicated to finding the perfect property. Alita's professionalism and
commitment made the entire process smooth and stress free, and
I continue to work with her today for our real
estate needs. I highly recommend Alita to anyone looking to
(13:49):
buy or sell with confidence and ease. So UH, thank
you so much for the opportunity to help you find
your perfect place. And congratulations to Alita on another five
star review. And last, but not least today is this
one goes out to Riley. Going through my home buying process,
(14:10):
I used a number of real estate agents. However, Riley
would stood out above all of the others due to
his high level of responsiveness, updates and check ins. He
had great advice and counsel along the way, and if
I had to purchase another home or sell my current one,
I would use him again. So congratulations on your new
(14:31):
home and congratulations to Riley.
Speaker 3 (14:33):
On another five star reviews.
Speaker 1 (14:38):
There it is the reviews this week. Man. If you
would like to be the next five star review, you
know where to go. Gusigilisgroup dot com, but Hey, stay tuned.
We're going to talk about what we're seeing in the
mortgage market, the real estate market, the calm before the
storm right here on Barred and Sold, all right, welcome
(15:01):
back to Bob Bard and Sold. And you know I'm
calling I'm calling the next six months the calm before
the storm. Okay, Brad, I see it, calm before the storm.
And here's why. You know, we've we've talked about for
for months trying to get these interest rates down, and
(15:23):
finally they've been kind of moving down. We've got the
federal funds rate, which doesn't directly impact the mortgage rates,
but I would say it indirectly impacts the mortgage rates well.
Speaker 3 (15:34):
And again we know it's indirect because you know, again
we get the benefits for it before it's announced once
once the kind of the that's where the odds are going.
So so so we're kind of we're we're getting the effects,
but it's not a direct Hey, we're dropping this rate
of quarter, so everything drops a quarter like so so
that's the part I think is the confusing part for
some people, Like, yeah, it affects it, but it's not
like you don't hear the announcement and start calling saying
(15:56):
a mortgage ate a quarter percent lower.
Speaker 1 (15:58):
No, not exactly, so the big thing in my opinion.
So I was talking to a commercial real estate agent
buddy of mine and he's like, dude, he goes, man,
my phone has been ringing off the hook. People are like,
they're they're looking at making deals. He's like, I'm going
out of town to do some site selections. He's like,
(16:20):
he's amped up, and I'm like, so that that gets
me amped up. I'm like, let's go.
Speaker 2 (16:24):
Yeah.
Speaker 1 (16:24):
And then I'm talking to another friend of mine that
is basically the head credit risk officer for a bank,
and he's predicting one more rate cut this year and
four rate cuts next year. And you know, if we're looking,
so let's say hypothetically that's accurate. M hm okay, So
(16:49):
I'm gonna guess that's five rate cuts. I'm gonna guess
each rate cut is probably a quarter percent, so that's
probably one point two five on a rate cut over
the next We'll say, you know year and you know,
five quarters. And so what that will do is it
(17:11):
should take our interest rates down to mid to low fives.
Should So all right, we're talking hypothetically, and i'd love
your feedback when we get you know, in a minute.
So the call before the storm. So imagine like right
now is typically the time that you know, the people
(17:31):
that are buying, there's got to be a pretty big
need for them to buy. This is not our typical
selling season. We still I mean, like we're all, I mean,
we're selling.
Speaker 2 (17:40):
You know, the.
Speaker 1 (17:41):
Market's always moving, thirty homes a month, We're we're always moving.
But right now, like selling season to me in our
market is March through July.
Speaker 2 (17:52):
Correct.
Speaker 1 (17:52):
Okay, So what I think the next six months is
this is the perfect opportunity if you are a home
buyer to get into a house with probably no multiple offers.
There might be some houses that have multiple offers, but
probably less multiple offer competition, just less competition period. But
(18:17):
if you're a buyer, you've got a little bit more
negotiating room. You've got the ability to maybe negotiate some concessions,
whether that's the closing cost assistance, maybe that's a buy
down for a rate, maybe that's to negotiate price, who
knows what. But I think in the next six months
is going to be the great opportunity to do that.
(18:38):
But when it in that six months when when March
rolls around, I'm thinking multiple offer situations, less negotiation. I mean,
you're gonna have to figure out how to get a
deal done because rates I think will be in we'll
say six low and probably high fives at that point. Well,
(19:01):
I mean that's gonna get people in the market. And
I really do think this is my opinion. I think
a mid five is a perfect market from an interest
rate standpoint one hundred percent.
Speaker 3 (19:12):
I mean, that's that's really the goal. And that's what
I've been saying this whole time, Like mid fives. You know,
if it teeters a little bit of a blow five
and a half or a little bit above five and
a half, like that's a pretty balanced market. And so
that means and for that to happen, that means employment steady.
Not it's not we're not having big issues there, but
there's you know, we're gonna have We're getting a little
bit on that, but not anything crazy. Still unemployments still
(19:34):
low historically, but it's creeping up and then starting to
see the inflation numbers really coming down where they want
them to and kind of slowing at the pace that
they're they're wanting it slow down to and I think
we're gonna get that, and so it's a lot with them.
Continue to lower rates if that's what they do, because
these other things are cooperating. To your point, I'm with you,
(19:54):
like it's already gonna be atle bit slow. It's we're
kind of getting that slower down season and rates coming down.
You know, what we're seeing is from year over year,
we'll be up from where were last year, but it's
not that big, you know, ready to roll and so on.
If we can get at the end of the year
be right at five you know, five point nine nine
or right you know, teetering there, and in January we
(20:15):
start seeing five point seventy five or five point six
two five or whatever. We're lucky to get there, and
then the buyer season hits in March. Like you were
talking in a rate sort of that's sitting there in
the upper fives, mid fives. Hold onto your hats, here
we go.
Speaker 1 (20:29):
I mean, we'll see some price appreciation, you know, so
the negotiations is going to be, you know, come few
and far between.
Speaker 3 (20:37):
Well, I'd also say, if that's something that you've like
you've been thinking about for a year, year two years
and kind of waiting to see like you didn't have
to do anything, but you know you kind of need
to do something like and you're in a house now
or night in the house. But if you are in
a house now, like going to be thinking about like
go in and start talking to the ghost of Google's group,
start getting a plan of what you're going to need
to do to get your house listed and ready for
that season, so that when we get the rates there
(20:59):
and you're ready, you see something you want and you
want to jump on.
Speaker 2 (21:02):
You need to sell your house.
Speaker 3 (21:03):
You need to go have that plan going, so like
there's you need to be reaching out and start setting
that plan up because it's gonna happen. It's gonna happen fast,
it will. And I was, I say, I think it's
gonna happen.
Speaker 1 (21:14):
Yeah, I was at the gym this week and uh
there somebody was talking about, you know, potentially getting into
a vacation home, but they want to wait till the
rates go down. And I was like, dude, why are
you waiting? Like you've got less competition right now, Like
go ahead and jump in, go ahead and get that
get the house while you've got the negotiating ability, and
(21:34):
then next year when it's a point less on the
interest rate, then you will be financed.
Speaker 3 (21:40):
That that that is that is the like the little
thing that just kind of like it always gets me.
And I'm not saying it's always a one for one there,
but like let's just use like let's just say it's
a I'm not using this.
Speaker 2 (21:50):
Person, but let's just use random numbers.
Speaker 3 (21:52):
You know, let's say right now, you can get the
lake house you want for nine hundred thousand dollars in
the rate six six point three seventy five. And I'm
just making up something on the writ. Okay, we get
to March next year and it's getting the late season
and the rates aret five and a half. That house
is not gonna be nine hundred thousand anymore. That house
is going to be one point one, one point two
one point twenty five. So you were worried about half
(22:14):
percent rate, but we're okay paying three hundred thousand dollars more.
Speaker 2 (22:16):
For a house.
Speaker 1 (22:17):
It's a heck of a difference.
Speaker 3 (22:18):
I mean, like that's that's that's the thing to me,
Like we're so worried about that number that we can
put on our pillow at night and we're missing we
can't see the forest of the trees.
Speaker 1 (22:27):
I mean we're like my three point six two five.
Oh yeah, I like it.
Speaker 5 (22:31):
Listen, it's awesome.
Speaker 1 (22:33):
But having the right houses, yeah.
Speaker 3 (22:36):
Yeah, and and and over the long term, orre you
getting the best deal for it? Because again, let's just
make up. Let's say you have to pay another seven
thousand dollars and closing cost of refi if you got
the house cheaper and you were gonna get it by waiting.
Speaker 1 (22:48):
What's the matter when people refinance? What is is there
any kind of rule of thumb, like they need to
have the uh interest rate a certain level lesson.
Speaker 3 (22:59):
All case by case. And a lot of that goes
back to like what kind of loan are you in currently?
How long do you plan on being in there? You know,
is are you gonna are you thinking like you're gonna
be out of it in five years? Okay, then we
probably need to make sure. I mean again, like we'll
say it needs to be one percent reduction if you're
gonna be there for the next ten or fifteen years.
Like if it's a half percent, I mean it's worth
doing it. So I mean, so it's everybody's case by case,
(23:20):
and people have different needs to peel.
Speaker 2 (23:22):
Houses are worth.
Speaker 3 (23:23):
More than ever when anybody bottom right now, so people
can get cash out and pay off higher revolving debts.
So anyways, there's all kinds of options, but it's it's
it's gonna be interesting to see how it all unfolds.
Speaker 1 (23:32):
We're there though, case by case, and if you're trying
to figure it out for yourself, call it a Gustygulis
Group Gustygoulisgroup dot com two of five five four two
nineteen ninety six called text that number and we can
build that planning for you with you and then also
get pre qualified for a mortgage. Go to Bradsmith Loans
dot com. That's me and uh get that process started too.
(23:57):
So well, thank you so much for joining us. The
calm before the storm. There we go, all right, catch
you next time
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