Episode Transcript
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Speaker 1 (00:00):
All right, well, come by, borrowed and sold, and happy
Father's Day to all the all the dads out there.
We've got, Uh, I've got two boys, Tripp and Max.
So we get to celebrate Father's Day. And and then
Brad's hanging out with us in the studio Bradsmith Cross
Country Mortgage, Bradsmith Loans dot Com. And yeah, you get
(00:21):
to celebrate Father's Day too, getting to celebrate Father's Day
at the baseball field. So yeah, which is what do
you know, where else would you be watching your kids
do stuff? Like I'm fired up, We'll get fun. I
love it. I love it too. I do enjoy being
on the baseball fields. I was on on the baseball
fields this past week with with Trip, and we went
(00:44):
ahead and we just got done with eight U GBB
A and that's coach pitch and then in nine you
it turns into kid pitch. And so we just kind
of did our first go around of kid pitch, and
oh man, y'all did do some kid pitch. We did
a little practice with a little practice run nice and
actually Trip did pretty good, awesome. Uh, he had a
(01:06):
couple of strikeouts and he walked a batter. He did
hit a batter, felt bad for that kid, and uh,
and then had one kid hit a dribbler to first base,
and so it was a good run for an inning
for trip and uh, it was exciting to kind of
see all that go. But man, it's a whole different
(01:29):
world now, a whole different world. Your your your your
fielders get a little more bored hearing yes, bearing a
kid pitch, I can see that, I can well, I
was bored. It was kind of painful. It was kind
of painful.
Speaker 2 (01:44):
It's a little bit of regression because when you're getting
the because I've been through it now with three times, yeah,
when you get sorry to hide doing this kid youth baseball,
but his father's day.
Speaker 1 (01:54):
So we just talked about that. Kids.
Speaker 2 (01:56):
You know, you see like you get through that a
and you're like, this starting to look real baseball. Like
the balls in play, kids are good defensive plays, kids
are smoking the ball, and you're like, oh, it's starting
to look baseball besides the pitching thing. And then all
of a sudden, it's like wamp right everything, you know,
it just completely just sucks the ear out of it.
I mean, it's it's awesome to watch them get out
there and see it and the catcher's having to work
(02:18):
and pitching and stuff, but it is everything just slows
completely down and just you're like, okay, we just went
backwards a little bit.
Speaker 1 (02:25):
Yeap. Yeah, Well, I think what I'm gonna do is
I'm gonna get Trip out there and just start get
them on the pitching mound and let him start working
and see how it goes. So building some confidence. Maybe
get Tucker out there with him. Yeah, let's do it. Yeah.
So well, so there you go. Yeah, Happy Father's Day.
Now to real estate. Really yeah, I want to give
(02:49):
some shout outs because we've had some we've we put
it looks like five homes under contract this past week,
So I want to give a shout out to Graham Resburg,
Isaac Marvin, Katie Scraven, Kyle Bedgood, and Tim Lance. Congratulations
on your contracts this week. So five under contract this
past week. I would say that's probably more of our
(03:11):
normal week. You know, the last couple of weeks we
had like fourteen and twelve, and so we kind of
hit a little spurt and so it was, you know,
back I guess back to reality.
Speaker 2 (03:25):
Well, you know, I've really kind of picked up on
this more since well, I've been doing this show with
you over the last year, and you brought it up
last summer, and I think you mentioned it a couple
of weeks ago. You know, the summer's real weird because
you'll have hot weeks and cold like the week. It's
week on week.
Speaker 1 (03:39):
Awful lot of times are roller coaster esque.
Speaker 2 (03:41):
And so and so that that kind of surprised me,
but because to me, it's like it should be a
steady stream of people going out of town so that
each week it should be pretty similar. But I think
there are bigger weekends where people are going and doing
other stuff like maybe Father's that weekend, more people going
to the lake or the beach, Memorial the day people,
more people are going out of town doing stuff. So
you got those big weeks, and then you've got weeks Hey,
I got work with some of the summer, so people
are all back in town and maybe also been able
(04:03):
to look for a house or something.
Speaker 1 (04:04):
That's trying frame.
Speaker 2 (04:04):
So yeah, so maybe maybe next week's going to be
fourteen fifteen sixteen contrare.
Speaker 1 (04:08):
You go there, you go, Well, which that'd be nice. Well,
we'll talk about what we've got, what we're seeing in
the market in our next segment. But we're going to
talk about our new listings, and it looks like we've
got We had a couple of open houses yesterday just
because we wanted to kind of take a little bit
of a break for Father's Day. We figured people might be,
(04:31):
you know, not going to open houses as much on
a Father's Day. So but good traffic still out there
on open houses. And uh, we've got three new listings
we're going to talk about today. So let's uh, let's
let's give our wonderful listeners a rundown of the game
that we play each and every week.
Speaker 2 (04:54):
The mortgage game. All right, So Gus, he's going to
go through their new listings. At the end of the
description and kind of let's what all is going on
with the property is going to give us the most
important part, and that.
Speaker 1 (05:03):
Is the purchase price of the property.
Speaker 2 (05:05):
At that point, I'm going to give a potential down
payment that a barrower may make on purchasing that home,
and then Gusty and our esteem producer John Mounts will
be guessing the thirty year fixed monthly principal and interest
only payment. All right, So I'm ready, Gusty.
Speaker 1 (05:23):
Are you ready right? Yeah, yeah, I'm ready said, hey,
let's do this all right. Our first new listing of
the week is in Chelsea. It's in the Polo Crossings neighborhood,
one eighty four Belmont Way. This was built in twenty nineteen.
Three bedrooms and two baths, sixteen hundred and sixty square
feet and we are asking two hundred and ninety five thousand,
(05:45):
two hundred in ninety five thousand. This is a one
owner home. Also has a screened in porchs, separate tub
and shower in the primary bathroom. And I'll tell you what,
I don't think this one's gonna be on the market
too long. So one eighty four Belmont Way in Chelsea,
two ninety five.
Speaker 2 (06:07):
Two ninety five and Chelsea, Man, that's great. Uh, five
percent down. We're gonna put five percent down on two
ninety five. Five five percent down. Cue the music.
Speaker 1 (06:17):
Okay, I tear my headphones down. I just think ear
blast over here.
Speaker 2 (06:25):
Two ninety five five percent down, Gusty, you get to
go first. Okay, five percent down, I'm gonna go with.
I don't know, I don't want to go there.
Speaker 1 (06:45):
Mmmm. Why is this harder for me today? No? No
pricere I'm gonna go five percent down. I'm gonna say
eighteen hundreds and thirty two dollars.
Speaker 3 (07:05):
I was actually thinking eighteen. But I don't want to.
I don't want to do the whole price is right thing.
So n you good dude, Okay, afraid I'm feeling patriotic.
Seventeen seventy six.
Speaker 2 (07:19):
The actual payment was eighteen hundred and seventeen dollars. H
Gusty gets round one many. When you're both dolled in,
you can't be worried about prices. But you can't worry
about prices right when you're both dolled in. You gotta
go with the You gotta go what you think.
Speaker 1 (07:34):
All right, and uh you know as always. You can
go to gustygoulisgroup dot com to check out any of
these listings. By the way, our next new listing is
in the cold Well Crossings neighborhood and Hoover forty four
eighty one Crossings Ridge. This was built in two thousand
and five, three bedrooms, two baths, eighteen hundred and seventy
(07:56):
six square feet. It says a garden home in a
in the salt after Caldwell Crossing's neighborhood. This is a
one of the premium lots because it backs up to
trees and privacy, not other homes, and it's on an
almost on the cul de sac of a cold Desac road.
(08:19):
This one has a fenced backyard, beautifully manicured covered back
porch to car garage. They also updated the primary bathroom
to make it handicap accessible. Oh nice, which is very cool.
So forty four eighty one Crossings Ridge. We are asking
four nineteen nine, four nineteen nine, four nineteen nine. It's
(08:45):
just one hundred dollars less than four hundred and twenty
thousand dollars. Did I catch a niner in there? All right? Niner?
There you go. Ten percent down, ten percent down. John
gets to go first.
Speaker 3 (08:58):
Okay, So a little bit more in the last one,
and actually quite a bit more in the last one.
I'm gonna say twenty twenty six point fifty.
Speaker 1 (09:16):
Gusty, I'm gonna say twenty four seventy nine. The actual
payment was two thousand, four hundred and fifty one dollars.
Shoe got to gets it. Oh yeah, I'm on today, baby,
I'm on today. Just had to get going. Yeah, that's right,
(09:36):
that's right. All right. Our next new listing is also
in Chelsea. We got a little run going in Chelsea,
three oh one Normandy Lane. This is in the Courtyard
Manor neighborhood. Built in twoenty and twelve, almost a half
acre lot, four bedrooms and four baths, thirty one hundred
(09:57):
and eighty seven square feet and it has it's kind
of like the you know, that old world look. It
has that. It was has that mortar shmear over the brick,
kind of that cool old world look, and that's kind
of what this this neighborhood is this part of the style.
So yeah, six hundred and twenty thousand, and this was
(10:20):
a custom built house. It is in a pool community
that has sidewalks and this one has a two car
garage but it also has a golf cart garage. Oh
the lookout so pretty pretty cool. I was looking at
the pictures. I was like, Papa, look at that thing.
So this listing is courtesy of Ashley Stags. So Ashley,
(10:45):
congratulations on your new listing.
Speaker 2 (10:50):
Six d twenty percent down twenty percent down to gusty
just for this is for for this in the clean sweep.
Yeah yeah, yeah, yeah, yeah yeah, okay hmmm twenty percent down.
(11:16):
I'm gonna go with.
Speaker 1 (11:20):
Their three thousand, one hundreds and eighty nine dollars.
Speaker 3 (11:31):
I'm thinking it's probably I was thinking higher A sings
like thirty seven, So I'm gonna split the difference thirty five.
Speaker 2 (11:39):
The actual payment is three two hundred and seventeen dollars.
Guest he gets around three for the.
Speaker 1 (11:43):
Clean sweep I was on today. That was pretty good.
It was real good. I must know what I'm talking about.
You still houses for a living? Hey, we've we've got
a coming soon in the Avondel area. This is this
is pretty cool. This this house was renovated a couple
(12:03):
of years ago. It's in one of the Arts and
Crafts Bungalow houses forty four hundred Fifth Avenue that's going
to be coming up this this week. Thirteen and ninety
two square feet three ninety nine. So if you're looking
for a cool house pretty close to all the fun
things in Avondale, or you want to be close to downtown,
or if you want to have an airbnb, this could
(12:24):
be a great opportunity for three ninety nine. Hey, we've
got some buyer needs and we've got a couple that
are in Homewood. I've got three folks looking for homes
in the Edgewood Elementary School district. They are all they
are looking above one million dollars I have. I've got
(12:46):
a buyer that is looking in the either Crestwood, Avondale
or Glen Iris Southside area and they're looking up to
four hundred thousand. So like this one in Avondale, I've
got to send to them hopefully that will be one
that they might be interested in. And I know we've
got a few folks that are looking in the Vestavia
(13:07):
area and also in the Bluff Park area, and we've
got people looking really in all price ranges. So if
you have a home that you're considering, potentially selling or
just want kind of a value, you can go to
gustygouglisgroup dot com. You can also call or text two
O five five four two nineteen ninety six, and we
would love to have a conversation with you, maybe match
(13:28):
you with one of our clients that is, you know,
looking And then also you know, we have a database
of about ninety thousand people, which is unreal that is
so that we can kind of tap into our network
of folks. So yeah, so just reach out and we'd
love to learn more about you, your home, your situation,
(13:50):
and see how we can be of service. All right,
guess what time it is.
Speaker 2 (13:57):
It's test ceremonial time.
Speaker 1 (14:01):
Hey, this one's about me. Would you look at that? Ah?
We cannot say enough about Gusty. From the second we
got his contact, he immediately started getting to know the
houses we were interested in, and more importantly, us as people.
He and Isaac worked diligently to make sure we saw
houses that matched our preferences, and also pushed us to
(14:23):
consider so many important factors we never would have thought about.
For first time home buyers, we could not have asked
for a better experience. So thankful for them. So the
Sims family thank you so much, you know for this
wonderful review. And hey, Gusty, Yeah, congratulations on another five
(14:45):
star reviews. We get what you did. I would like
you to work it to that. But yeah, he had thought.
Speaker 2 (14:50):
I thought me jumping that one to give you congratulate
Gussy for his review was the way to go.
Speaker 1 (14:54):
I like that. I like that, So maybe we do
that in the future.
Speaker 2 (14:58):
We can get more of Gussie's reviews, to get more reviews. Please,
I feel we've got a plan. We've got to plan
now how to handle them. All right, Well, hey, we're
gonna go to break. We are, Brad and I are
going to talk a little bit about what we're seeing
in the mortgage in the real estate markets right here
on Borrowed and Sold. All right, welcome back to ball
(15:22):
Barn and Sold. Glad for you to join us each
in every week right here on one oh five point five.
Speaker 1 (15:27):
And I want to start out. I mean, we've been
seeing a lot of things in the news and I
wonder are they impacting mortgage rates right now? So we've
got Brad Smith with Cross Country Mortgage bradsmithlons dot com.
What do you see him? A man man?
Speaker 2 (15:45):
It was a it was a pretty good week for
mortgage rates if if for nothing else, we didn't have
a ton of big swings, which is fine, you know,
I feel like the big the big swings lead to
big swings the other way. So we're steadily making some improvements.
I think the the well, I don't think the China
and US trade talks are starting to get somewhere and
(16:05):
fect we're kind of getting close and getting that deal done,
and the markets have received some of the stuff they're
talking about doing well as far as some of the
trade agreements.
Speaker 1 (16:13):
So that's helped.
Speaker 2 (16:15):
Inflation numbers keep showing better than what the Fed wants
to lead you to, and so the markets are responding
and the markets are getting being favorable to the stocks
and bond markets right now.
Speaker 1 (16:27):
And then.
Speaker 2 (16:29):
The biggest thing right now is the labor market though,
and uh, I mean that that's it's showing a lots
of numbers where the you know, unfortunately, the job market
is starting to suffer, and we're seeing it suffer, and
some of the jobs reports aren't aren't showing it technically
the way that the BLS Job report is not really
reflecting what you're actually getting from the numbers and from
(16:51):
the from consumer sentiment and just your ADP numbers when
they're pulling your unemployment numbers and how many people a
new filings compare to carry over.
Speaker 1 (17:01):
It's at the.
Speaker 2 (17:01):
Highest it's been in a long time. It's been even
when we've had like months where that job was claims
like skyrocketed, it's immediately come back down. So it's not
these little blips that may have been seasonal. So right
it's like after summer work, big, big in the summer,
then it drops. This has been two months continuously right
now that we've been right at two hundred and fifty
thousand dollars of new claims and anytime we've gotten close
(17:23):
in the past two years to one point nine million
in total in claims, I mean, it's it's come right
back down. We've the last three months we've gone over
one point nine and continue to climb and getting closer
to two. Interesting and so and so those but those
are also measured on the benefits of the unemployment benefits,
which you know it have different expiration times and depending
(17:43):
on what state you're in this stuff, but from on
average about six months, so they fall off once they're
not getting the claims. On those numbers, you're getting some
fall off that aren't getting back to work. They're just
out of time on their unemployment benefits. Interesting, and so
some of that stuff's not coming through either. So we
we're seeing that slowed on jobs and and how much
longer people are are it's taking to get rehired, and
(18:06):
so those numbers are coming in and they're they're starting
to trickle in a little bit more and more, and
so it's it's the markets have responded though, and it's
gone good to the bond market on the mortgage traits.
So you know, if we've been saying that we're at
seven percent, give or take a little bit, you know,
we're probably at six point seventy five, give or take
a little bit. You know, you know, you could be
you know, all depending on everything else. But just if
(18:26):
you kind of get an idea, you know, we probably
had a quarter percent improvement over the past week.
Speaker 1 (18:31):
And you can get better percentages. Oh yeah, I went
through like government loans, like yeah, yeah, I was talking
kind of national average, national average, conventional ending right now.
It's kind of just the number I'm throwing out there.
Nothing that I'm quoting or not necessarily you know, the
rates and fees and all that stuff. This is just
kind of national average what we're seeing the movement. Everybody's
(18:52):
going to have a little bit different margin and exact
rate and fees and stuff. But we're we're in that
range again. You know, if you've got a little lower
credit score, it may be closer to seven. If you've
got excellent credit score and putting more money down, it
may be closer to six point sixty two five or something.
So there's you know, there's all kinds of little factors
that go into it, but for the most part, for
our educational purposes, you know, we've probably had about seventy
(19:16):
BIPs of improvement basis points improvement on the raw bond market,
which usually comes out to everybody. Every thirty two points
is about an eighth of a rate you can kind
of gauge may come back to your pricing, so gotcha. Anyways,
so for that point it's been positive. We broke finally
broke above the twenty five and fifty day movies, the ceilings,
(19:36):
the moving ceilings, so that we've been just keep hitting
those and staying right at them. We've gone through those
and now we're pushing up against the two hundred day
moving average again. So so those are all positive from
mortgage rates, and so I think that's going to help
us kind of if we keep trending that way and
just a little bit here and there and keep making
up some ground, it's just going to help lead to
the summer and fall keep staying strong where we're seeing
it right now. So it's good stuff.
Speaker 2 (19:58):
But you know, again we have to have some bad
news to make the mortgage rates have good news. So
you know, so it's it's not one hundred percent just
something to sell breaks. I'm sitting there telling you we've
got we're adding two hundred and fifty thousand unemployment across
the country for the past two months, and we're getting
close to two million on unemployment benefits. So that's part
of the cause of it. But the trade agreement was
the big deal with China and US getting close and
(20:20):
having some getting on some common ground.
Speaker 1 (20:22):
Nice, okay, well, good good. I mean, whatever we can
do to get any kind of potential positive news. I mean,
obviously employment is a big deal. You know, so people
can get finance action houses. But yeah, whatever we can
do to get those rates coming down a little bit,
that just kind of opens up buying power. But you know,
somebody was like, you know, I wish the rates were
(20:43):
at four percent, and like, yes, I wish that. But
also like if we saw a very significant price interest change,
all that's going to do is get so many people
back in the market that we'll find that there'll be
so many more bidding wars, see price appreciation, and it
would really kind of upset the market.
Speaker 2 (21:04):
Well, it would upset the market. And if you look
at people's net number, they may be paying a little,
they'd be paying less interest rate, may be paying more
interest on their principal balances because they're paying more for
the house because because it flooded the market. To your point, So,
I mean, it's just it's just a supply and demand curve,
you know, I mean, that's all it is. So if
you put a bunch of more, you know, if you
have a house, if right now you're you know, it's
(21:26):
seven percent, you're approofd for a four hundred and fifty
thousand house, and all of a sudden you go to
four and you're approof for six hundred thousand house. Well
they just everybody else that was in that same boat
just also went up to that to that price point.
And so to your point, it does increase your buying power,
but it also means you're gonna be paying more for
the house because more people are can buy the house
as well.
Speaker 1 (21:45):
Yep, that's right. Well, we had one of our listings
last week. We had I was on the market for
seven days and then it was interesting. We had nobody
that told me no on the property, but I did
not receive any offers yet, and so I was just like, man,
what is you know, nobody's nobody's saying absolutely not, but
(22:06):
why do I not have any offers? And then all
of a sudden I got one offer, and then the
next day, the next morning, I got another offer, and
I had a couple of other people. I finally figured
out why I didn't have any of offers because I
had two people that were interested had to sell a
property to buy, and so they were just like not
(22:28):
ready to pull the trigger as far as making an offer,
especially like it's it's kind of hard to get a
contingency contract with a sell of a home approved, especially
like first week of a house being on the market. Yeah,
that's tough. So you know, I just basically said, hey, look,
you know, well well let's reintroduce this conversation, you know,
a little bit further down the pipeline. But we ended
(22:49):
up having multiple offers. We called for highest and best
and ended up blocking down one of the contracts, and
you know, now working through the inspection period. But you know,
I felt like it was interesting that it was on
the market for a little bit and then nothing, and
then all of a sudden, like literally one day, I
had like six show ins on it, like randomly. Yeah,
(23:10):
that's so weird. And then and then this past week
when you know, like this this Crossing's Ridge, we went
live on Thursday and I think we've got ten show ins.
I think we had ten show ins on Thursday just
to start the showing off. And so you know, that's
been kind of a unique. So it shares to me
that there is a demand for sure in that neighborhood.
So that's what we've been seeing in the market. And
(23:31):
obviously it really just depends on where your house is located.
So again you can always go to Gustygoulisgroup dot com.
Let's have a conversation text two oh five five four
two nineteen ninety six. And as always, if you want
to get pre qualified for a mortgage, go to Bradsmithlans
dot com. So Brad, Happy Father's Day to you, John,
Happy Father's Day to you, and then to all of
(23:52):
our listeners, Happy Father's Day. We hope you have an
amazing weekend and we'll catch you next time.
All right, well, come by, borrowed and sold, and happy
Father's Day to all the all the dads out there.
We've got, Uh, I've got two boys, Tripp and Max.
So we get to celebrate Father's Day. And and then
Brad's hanging out with us in the studio Bradsmith Cross
Country Mortgage, Bradsmith Loans dot Com. And yeah, you get
(00:21):
to celebrate Father's Day too, getting to celebrate Father's Day
at the baseball field. So yeah, which is what do
you know, where else would you be watching your kids
do stuff? Like I'm fired up, We'll get fun. I
love it. I love it too. I do enjoy being
on the baseball fields. I was on on the baseball
fields this past week with with Trip, and we went
(00:44):
ahead and we just got done with eight U GBB
A and that's coach pitch and then in nine you
it turns into kid pitch. And so we just kind
of did our first go around of kid pitch, and
oh man, y'all did do some kid pitch. We did
a little practice with a little practice run nice and
actually Trip did pretty good, awesome. Uh, he had a
(01:06):
couple of strikeouts and he walked a batter. He did
hit a batter, felt bad for that kid, and uh,
and then had one kid hit a dribbler to first base,
and so it was a good run for an inning
for trip and uh, it was exciting to kind of
see all that go. But man, it's a whole different
(01:29):
world now, a whole different world. Your your your your
fielders get a little more bored hearing yes, bearing a
kid pitch, I can see that, I can well, I
was bored. It was kind of painful. It was kind
of painful.
Speaker 2 (01:44):
It's a little bit of regression because when you're getting
the because I've been through it now with three times, yeah,
when you get sorry to hide doing this kid youth baseball,
but his father's day.
Speaker 1 (01:54):
So we just talked about that. Kids.
Speaker 2 (01:56):
You know, you see like you get through that a
and you're like, this starting to look real baseball. Like
the balls in play, kids are good defensive plays, kids
are smoking the ball, and you're like, oh, it's starting
to look baseball besides the pitching thing. And then all
of a sudden, it's like wamp right everything, you know,
it just completely just sucks the ear out of it.
I mean, it's it's awesome to watch them get out
there and see it and the catcher's having to work
(02:18):
and pitching and stuff, but it is everything just slows
completely down and just you're like, okay, we just went
backwards a little bit.
Speaker 1 (02:25):
Yeap. Yeah, Well, I think what I'm gonna do is
I'm gonna get Trip out there and just start get
them on the pitching mound and let him start working
and see how it goes. So building some confidence. Maybe
get Tucker out there with him. Yeah, let's do it. Yeah.
So well, so there you go. Yeah, Happy Father's Day.
Now to real estate. Really yeah, I want to give
(02:49):
some shout outs because we've had some we've we put
it looks like five homes under contract this past week,
So I want to give a shout out to Graham Resburg,
Isaac Marvin, Katie Scraven, Kyle Bedgood, and Tim Lance. Congratulations
on your contracts this week. So five under contract this
past week. I would say that's probably more of our
(03:11):
normal week. You know, the last couple of weeks we
had like fourteen and twelve, and so we kind of
hit a little spurt and so it was, you know,
back I guess back to reality.
Speaker 2 (03:25):
Well, you know, I've really kind of picked up on
this more since well, I've been doing this show with
you over the last year, and you brought it up
last summer, and I think you mentioned it a couple
of weeks ago. You know, the summer's real weird because
you'll have hot weeks and cold like the week. It's
week on week.
Speaker 1 (03:39):
Awful lot of times are roller coaster esque.
Speaker 2 (03:41):
And so and so that that kind of surprised me,
but because to me, it's like it should be a
steady stream of people going out of town so that
each week it should be pretty similar. But I think
there are bigger weekends where people are going and doing
other stuff like maybe Father's that weekend, more people going
to the lake or the beach, Memorial the day people,
more people are going out of town doing stuff. So
you got those big weeks, and then you've got weeks Hey,
I got work with some of the summer, so people
are all back in town and maybe also been able
(04:03):
to look for a house or something.
Speaker 1 (04:04):
That's trying frame.
Speaker 2 (04:04):
So yeah, so maybe maybe next week's going to be
fourteen fifteen sixteen contrare.
Speaker 1 (04:08):
You go there, you go, Well, which that'd be nice. Well,
we'll talk about what we've got, what we're seeing in
the market in our next segment. But we're going to
talk about our new listings, and it looks like we've
got We had a couple of open houses yesterday just
because we wanted to kind of take a little bit
of a break for Father's Day. We figured people might be,
(04:31):
you know, not going to open houses as much on
a Father's Day. So but good traffic still out there
on open houses. And uh, we've got three new listings
we're going to talk about today. So let's uh, let's
let's give our wonderful listeners a rundown of the game
that we play each and every week.
Speaker 2 (04:54):
The mortgage game. All right, So Gus, he's going to
go through their new listings. At the end of the
description and kind of let's what all is going on
with the property is going to give us the most
important part, and that.
Speaker 1 (05:03):
Is the purchase price of the property.
Speaker 2 (05:05):
At that point, I'm going to give a potential down
payment that a barrower may make on purchasing that home,
and then Gusty and our esteem producer John Mounts will
be guessing the thirty year fixed monthly principal and interest
only payment. All right, So I'm ready, Gusty.
Speaker 1 (05:23):
Are you ready right? Yeah, yeah, I'm ready said, hey,
let's do this all right. Our first new listing of
the week is in Chelsea. It's in the Polo Crossings neighborhood,
one eighty four Belmont Way. This was built in twenty nineteen.
Three bedrooms and two baths, sixteen hundred and sixty square
feet and we are asking two hundred and ninety five thousand,
(05:45):
two hundred in ninety five thousand. This is a one
owner home. Also has a screened in porchs, separate tub
and shower in the primary bathroom. And I'll tell you what,
I don't think this one's gonna be on the market
too long. So one eighty four Belmont Way in Chelsea,
two ninety five.
Speaker 2 (06:07):
Two ninety five and Chelsea, Man, that's great. Uh, five
percent down. We're gonna put five percent down on two
ninety five. Five five percent down. Cue the music.
Speaker 1 (06:17):
Okay, I tear my headphones down. I just think ear
blast over here.
Speaker 2 (06:25):
Two ninety five five percent down, Gusty, you get to
go first. Okay, five percent down, I'm gonna go with.
I don't know, I don't want to go there.
Speaker 1 (06:45):
Mmmm. Why is this harder for me today? No? No
pricere I'm gonna go five percent down. I'm gonna say
eighteen hundreds and thirty two dollars.
Speaker 3 (07:05):
I was actually thinking eighteen. But I don't want to.
I don't want to do the whole price is right thing.
So n you good dude, Okay, afraid I'm feeling patriotic.
Seventeen seventy six.
Speaker 2 (07:19):
The actual payment was eighteen hundred and seventeen dollars. H
Gusty gets round one many. When you're both dolled in,
you can't be worried about prices. But you can't worry
about prices right when you're both dolled in. You gotta
go with the You gotta go what you think.
Speaker 1 (07:34):
All right, and uh you know as always. You can
go to gustygoulisgroup dot com to check out any of
these listings. By the way, our next new listing is
in the cold Well Crossings neighborhood and Hoover forty four
eighty one Crossings Ridge. This was built in two thousand
and five, three bedrooms, two baths, eighteen hundred and seventy
(07:56):
six square feet. It says a garden home in a
in the salt after Caldwell Crossing's neighborhood. This is a
one of the premium lots because it backs up to
trees and privacy, not other homes, and it's on an
almost on the cul de sac of a cold Desac road.
(08:19):
This one has a fenced backyard, beautifully manicured covered back
porch to car garage. They also updated the primary bathroom
to make it handicap accessible. Oh nice, which is very cool.
So forty four eighty one Crossings Ridge. We are asking
four nineteen nine, four nineteen nine, four nineteen nine. It's
(08:45):
just one hundred dollars less than four hundred and twenty
thousand dollars. Did I catch a niner in there? All right? Niner?
There you go. Ten percent down, ten percent down. John
gets to go first.
Speaker 3 (08:58):
Okay, So a little bit more in the last one,
and actually quite a bit more in the last one.
I'm gonna say twenty twenty six point fifty.
Speaker 1 (09:16):
Gusty, I'm gonna say twenty four seventy nine. The actual
payment was two thousand, four hundred and fifty one dollars.
Shoe got to gets it. Oh yeah, I'm on today, baby,
I'm on today. Just had to get going. Yeah, that's right,
(09:36):
that's right. All right. Our next new listing is also
in Chelsea. We got a little run going in Chelsea,
three oh one Normandy Lane. This is in the Courtyard
Manor neighborhood. Built in twoenty and twelve, almost a half
acre lot, four bedrooms and four baths, thirty one hundred
(09:57):
and eighty seven square feet and it has it's kind
of like the you know, that old world look. It
has that. It was has that mortar shmear over the brick,
kind of that cool old world look, and that's kind
of what this this neighborhood is this part of the style.
So yeah, six hundred and twenty thousand, and this was
(10:20):
a custom built house. It is in a pool community
that has sidewalks and this one has a two car
garage but it also has a golf cart garage. Oh
the lookout so pretty pretty cool. I was looking at
the pictures. I was like, Papa, look at that thing.
So this listing is courtesy of Ashley Stags. So Ashley,
(10:45):
congratulations on your new listing.
Speaker 2 (10:50):
Six d twenty percent down twenty percent down to gusty
just for this is for for this in the clean sweep.
Yeah yeah, yeah, yeah, yeah yeah, okay hmmm twenty percent down.
(11:16):
I'm gonna go with.
Speaker 1 (11:20):
Their three thousand, one hundreds and eighty nine dollars.
Speaker 3 (11:31):
I'm thinking it's probably I was thinking higher A sings
like thirty seven, So I'm gonna split the difference thirty five.
Speaker 2 (11:39):
The actual payment is three two hundred and seventeen dollars.
Guest he gets around three for the.
Speaker 1 (11:43):
Clean sweep I was on today. That was pretty good.
It was real good. I must know what I'm talking about.
You still houses for a living? Hey, we've we've got
a coming soon in the Avondel area. This is this
is pretty cool. This this house was renovated a couple
(12:03):
of years ago. It's in one of the Arts and
Crafts Bungalow houses forty four hundred Fifth Avenue that's going
to be coming up this this week. Thirteen and ninety
two square feet three ninety nine. So if you're looking
for a cool house pretty close to all the fun
things in Avondale, or you want to be close to downtown,
or if you want to have an airbnb, this could
(12:24):
be a great opportunity for three ninety nine. Hey, we've
got some buyer needs and we've got a couple that
are in Homewood. I've got three folks looking for homes
in the Edgewood Elementary School district. They are all they
are looking above one million dollars I have. I've got
(12:46):
a buyer that is looking in the either Crestwood, Avondale
or Glen Iris Southside area and they're looking up to
four hundred thousand. So like this one in Avondale, I've
got to send to them hopefully that will be one
that they might be interested in. And I know we've
got a few folks that are looking in the Vestavia
(13:07):
area and also in the Bluff Park area, and we've
got people looking really in all price ranges. So if
you have a home that you're considering, potentially selling or
just want kind of a value, you can go to
gustygouglisgroup dot com. You can also call or text two
O five five four two nineteen ninety six, and we
would love to have a conversation with you, maybe match
(13:28):
you with one of our clients that is, you know,
looking And then also you know, we have a database
of about ninety thousand people, which is unreal that is
so that we can kind of tap into our network
of folks. So yeah, so just reach out and we'd
love to learn more about you, your home, your situation,
(13:50):
and see how we can be of service. All right,
guess what time it is.
Speaker 2 (13:57):
It's test ceremonial time.
Speaker 1 (14:01):
Hey, this one's about me. Would you look at that? Ah?
We cannot say enough about Gusty. From the second we
got his contact, he immediately started getting to know the
houses we were interested in, and more importantly, us as people.
He and Isaac worked diligently to make sure we saw
houses that matched our preferences, and also pushed us to
(14:23):
consider so many important factors we never would have thought about.
For first time home buyers, we could not have asked
for a better experience. So thankful for them. So the
Sims family thank you so much, you know for this
wonderful review. And hey, Gusty, Yeah, congratulations on another five
(14:45):
star reviews. We get what you did. I would like
you to work it to that. But yeah, he had thought.
Speaker 2 (14:50):
I thought me jumping that one to give you congratulate
Gussy for his review was the way to go.
Speaker 1 (14:54):
I like that. I like that, So maybe we do
that in the future.
Speaker 2 (14:58):
We can get more of Gussie's reviews, to get more reviews. Please,
I feel we've got a plan. We've got to plan
now how to handle them. All right, Well, hey, we're
gonna go to break. We are, Brad and I are
going to talk a little bit about what we're seeing
in the mortgage in the real estate markets right here
on Borrowed and Sold. All right, welcome back to ball
(15:22):
Barn and Sold. Glad for you to join us each
in every week right here on one oh five point five.
Speaker 1 (15:27):
And I want to start out. I mean, we've been
seeing a lot of things in the news and I
wonder are they impacting mortgage rates right now? So we've
got Brad Smith with Cross Country Mortgage bradsmithlons dot com.
What do you see him? A man man?
Speaker 2 (15:45):
It was a it was a pretty good week for
mortgage rates if if for nothing else, we didn't have
a ton of big swings, which is fine, you know,
I feel like the big the big swings lead to
big swings the other way. So we're steadily making some improvements.
I think the the well, I don't think the China
and US trade talks are starting to get somewhere and
(16:05):
fect we're kind of getting close and getting that deal done,
and the markets have received some of the stuff they're
talking about doing well as far as some of the
trade agreements.
Speaker 1 (16:13):
So that's helped.
Speaker 2 (16:15):
Inflation numbers keep showing better than what the Fed wants
to lead you to, and so the markets are responding
and the markets are getting being favorable to the stocks
and bond markets right now.
Speaker 1 (16:27):
And then.
Speaker 2 (16:29):
The biggest thing right now is the labor market though,
and uh, I mean that that's it's showing a lots
of numbers where the you know, unfortunately, the job market
is starting to suffer, and we're seeing it suffer, and
some of the jobs reports aren't aren't showing it technically
the way that the BLS Job report is not really
reflecting what you're actually getting from the numbers and from
(16:51):
the from consumer sentiment and just your ADP numbers when
they're pulling your unemployment numbers and how many people a
new filings compare to carry over.
Speaker 1 (17:01):
It's at the.
Speaker 2 (17:01):
Highest it's been in a long time. It's been even
when we've had like months where that job was claims
like skyrocketed, it's immediately come back down. So it's not
these little blips that may have been seasonal. So right
it's like after summer work, big, big in the summer,
then it drops. This has been two months continuously right
now that we've been right at two hundred and fifty
thousand dollars of new claims and anytime we've gotten close
(17:23):
in the past two years to one point nine million
in total in claims, I mean, it's it's come right
back down. We've the last three months we've gone over
one point nine and continue to climb and getting closer
to two. Interesting and so and so those but those
are also measured on the benefits of the unemployment benefits,
which you know it have different expiration times and depending
(17:43):
on what state you're in this stuff, but from on
average about six months, so they fall off once they're
not getting the claims. On those numbers, you're getting some
fall off that aren't getting back to work. They're just
out of time on their unemployment benefits. Interesting, and so
some of that stuff's not coming through either. So we
we're seeing that slowed on jobs and and how much
longer people are are it's taking to get rehired, and
(18:06):
so those numbers are coming in and they're they're starting
to trickle in a little bit more and more, and
so it's it's the markets have responded though, and it's
gone good to the bond market on the mortgage traits.
So you know, if we've been saying that we're at
seven percent, give or take a little bit, you know,
we're probably at six point seventy five, give or take
a little bit. You know, you know, you could be
you know, all depending on everything else. But just if
(18:26):
you kind of get an idea, you know, we probably
had a quarter percent improvement over the past week.
Speaker 1 (18:31):
And you can get better percentages. Oh yeah, I went
through like government loans, like yeah, yeah, I was talking
kind of national average, national average, conventional ending right now.
It's kind of just the number I'm throwing out there.
Nothing that I'm quoting or not necessarily you know, the
rates and fees and all that stuff. This is just
kind of national average what we're seeing the movement. Everybody's
(18:52):
going to have a little bit different margin and exact
rate and fees and stuff. But we're we're in that
range again. You know, if you've got a little lower
credit score, it may be closer to seven. If you've
got excellent credit score and putting more money down, it
may be closer to six point sixty two five or something.
So there's you know, there's all kinds of little factors
that go into it, but for the most part, for
our educational purposes, you know, we've probably had about seventy
(19:16):
BIPs of improvement basis points improvement on the raw bond market,
which usually comes out to everybody. Every thirty two points
is about an eighth of a rate you can kind
of gauge may come back to your pricing, so gotcha. Anyways,
so for that point it's been positive. We broke finally
broke above the twenty five and fifty day movies, the ceilings,
(19:36):
the moving ceilings, so that we've been just keep hitting
those and staying right at them. We've gone through those
and now we're pushing up against the two hundred day
moving average again. So so those are all positive from
mortgage rates, and so I think that's going to help
us kind of if we keep trending that way and
just a little bit here and there and keep making
up some ground, it's just going to help lead to
the summer and fall keep staying strong where we're seeing
it right now. So it's good stuff.
Speaker 2 (19:58):
But you know, again we have to have some bad
news to make the mortgage rates have good news. So
you know, so it's it's not one hundred percent just
something to sell breaks. I'm sitting there telling you we've
got we're adding two hundred and fifty thousand unemployment across
the country for the past two months, and we're getting
close to two million on unemployment benefits. So that's part
of the cause of it. But the trade agreement was
the big deal with China and US getting close and
(20:20):
having some getting on some common ground.
Speaker 1 (20:22):
Nice, okay, well, good good. I mean, whatever we can
do to get any kind of potential positive news. I mean,
obviously employment is a big deal. You know, so people
can get finance action houses. But yeah, whatever we can
do to get those rates coming down a little bit,
that just kind of opens up buying power. But you know,
somebody was like, you know, I wish the rates were
(20:43):
at four percent, and like, yes, I wish that. But
also like if we saw a very significant price interest change,
all that's going to do is get so many people
back in the market that we'll find that there'll be
so many more bidding wars, see price appreciation, and it
would really kind of upset the market.
Speaker 2 (21:04):
Well, it would upset the market. And if you look
at people's net number, they may be paying a little,
they'd be paying less interest rate, may be paying more
interest on their principal balances because they're paying more for
the house because because it flooded the market. To your point, So,
I mean, it's just it's just a supply and demand curve,
you know, I mean, that's all it is. So if
you put a bunch of more, you know, if you
have a house, if right now you're you know, it's
(21:26):
seven percent, you're approofd for a four hundred and fifty
thousand house, and all of a sudden you go to
four and you're approof for six hundred thousand house. Well
they just everybody else that was in that same boat
just also went up to that to that price point.
And so to your point, it does increase your buying power,
but it also means you're gonna be paying more for
the house because more people are can buy the house
as well.
Speaker 1 (21:45):
Yep, that's right. Well, we had one of our listings
last week. We had I was on the market for
seven days and then it was interesting. We had nobody
that told me no on the property, but I did
not receive any offers yet, and so I was just like, man,
what is you know, nobody's nobody's saying absolutely not, but
(22:06):
why do I not have any offers? And then all
of a sudden I got one offer, and then the
next day, the next morning, I got another offer, and
I had a couple of other people. I finally figured
out why I didn't have any of offers because I
had two people that were interested had to sell a
property to buy, and so they were just like not
(22:28):
ready to pull the trigger as far as making an offer,
especially like it's it's kind of hard to get a
contingency contract with a sell of a home approved, especially
like first week of a house being on the market. Yeah,
that's tough. So you know, I just basically said, hey, look,
you know, well well let's reintroduce this conversation, you know,
a little bit further down the pipeline. But we ended
(22:49):
up having multiple offers. We called for highest and best
and ended up blocking down one of the contracts, and
you know, now working through the inspection period. But you know,
I felt like it was interesting that it was on
the market for a little bit and then nothing, and
then all of a sudden, like literally one day, I
had like six show ins on it, like randomly. Yeah,
(23:10):
that's so weird. And then and then this past week
when you know, like this this Crossing's Ridge, we went
live on Thursday and I think we've got ten show ins.
I think we had ten show ins on Thursday just
to start the showing off. And so you know, that's
been kind of a unique. So it shares to me
that there is a demand for sure in that neighborhood.
So that's what we've been seeing in the market. And
(23:31):
obviously it really just depends on where your house is located.
So again you can always go to Gustygoulisgroup dot com.
Let's have a conversation text two oh five five four
two nineteen ninety six. And as always, if you want
to get pre qualified for a mortgage, go to Bradsmithlans
dot com. So Brad, Happy Father's Day to you, John,
Happy Father's Day to you, and then to all of
(23:52):
our listeners, Happy Father's Day. We hope you have an
amazing weekend and we'll catch you next time.
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