Episode Transcript
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Speaker 1 (00:00):
Hello, Hello, good day, Good morning everybody. Brad Smith is
going to be hanging out with us. He's in the
studio from Cross Country Mortgage.
Speaker 2 (00:09):
Brad. What's up, dude, man? How are you?
Speaker 1 (00:11):
I'm good. It's Labor Day weekends. Labor Day weekend. Actually,
I'm actually at the lake listening to this right now.
We do a little recording early action so that we could,
you know, have our Labor Day weekend ourselves.
Speaker 2 (00:26):
That's right, So so a little pre recorded, but still
got all the good updates and you know what's going on.
Speaker 1 (00:31):
So so you know, hopefully your team won yesterday.
Speaker 2 (00:35):
Yeah, we don't know or two days ago, all right, but.
Speaker 1 (00:37):
We can do our predictions. All right. Who's Auburn playing, Brad?
Speaker 2 (00:39):
They're playing Baylor on Friday night? So oh on Friday night?
Speaker 1 (00:43):
Is that?
Speaker 2 (00:43):
That's what I said two days most two days before.
Speaker 1 (00:45):
I wonder if you're going to be able to see it.
I heard about the Fox like blackout.
Speaker 2 (00:49):
There there's a short term agreement.
Speaker 1 (00:51):
Oh is there?
Speaker 2 (00:52):
Yeah, they figured it out, but they didn't say how
short term the agreement was. They didn't really say it
was going to cover games this weekend. But I'm assuming
that would be the short term that would trying to
well bridge. I'm really hopeful that I still, no matter
no matter what, I pull for the SEC SEC first
and foremost, and so hopefully they will beat Baylor.
Speaker 1 (01:14):
I don't pull for the SEC first, but I do
pull for Alabama. Excuse me, I pull for Alabama first,
then I pull for the SEC.
Speaker 2 (01:20):
Right with that, right, But I will pull for Alabama
when they're not playing some like we're not playing Alburn
and stuff. But I do not. I do not traditionally
just for the SEC across the board. Yeah, okay, so
that's that's my maybe my outlier.
Speaker 1 (01:33):
Okay, Well, you know, it's it's interesting in the fall
season that when when from a real estate perspective, you
have so many people going in and out of town
to football games, right, and so whether you're going down
to Tuscaloosa, going down to Auburn. You know, I find
it's very comparable to like summer season.
Speaker 2 (01:55):
It is.
Speaker 1 (01:56):
It is because you've got, you know, in summer season,
you've got people going out on vacations and so, but
it's very hit or miss. You've got people that like
some weeks are super busy some weeks or not. Maybe
the ones that are super busy. Are the away game weekends?
Speaker 2 (02:10):
Yeah, yeah, yeah, you know I think to that point,
like away game weekends and even like you know, I
think it does pick up someone like you know, you've
got the first weekend, maybe Labor Day people aren't you know,
they're gonna really be going out of town them this
weekend more. But you know, you may also get like
a lot of football tailgate parties at people's homes and
some more people riding around seeing for sale signs and
can kind of get some things motivated and maybe spark
(02:33):
something back there. So maybe you know, people getting out
some also, sure it kind of helps find some things.
So we'll see how it goes.
Speaker 1 (02:38):
Yeah, we shall see. Well, hopefully your team has won.
You woke up this morning and and uh everything is good.
So yeah, we're gonna talk a little bit about what
we're seeing in the real estate world, what we're seeing
in the mortgage world in our next segment. Uh, I
do got some shout outs, man, shout outs. Yeah, I
got some shout outs. So I want to reach out
(03:00):
to celebrate some of my team members. And it's so
you know, I had it all teed up and then
like people.
Speaker 2 (03:08):
To start saying when you pipe up the shout music, I.
Speaker 1 (03:13):
Don't know, all right. So Tim Lance has been busy
for homes under contract this past week.
Speaker 2 (03:20):
I was pretty consistent of the last few weeks. Yeah,
he's had.
Speaker 1 (03:23):
Multiple He's got an investor that's that's buying. So you know,
if you if you're looking to sell your home, and
I would say up to about one hundred and twenty thousand,
whether it's currently a rental home or or it could
be a great opportunity to be a rental home in
the Greater Birmingham area, up to one twenty give us
a call. We've got a buyer that is buying right now.
(03:45):
So that that really wasn't you know. I just wanted
to add that little ear mark. But I also want
to give shout outs to Carlo Deliberto for a contract
actually was in Aniston, Albi. So we don't go to
Aniston very much, but for this client we did and
we got one under contract on a old historic brick
tutor so it was a very cool house. Yep. Tony
(04:08):
McDaniels on another home under contract, Ashley Stags on a
home under contract in the Huey Town area. I was
actually with Ashley when she showed her folks this house,
wonderful house. We've got Blake Johnson with a home in
Leeds under contract, So congratulations to you, Blake. And uh
(04:29):
and then Kyle Bedgood with another home under contract. And
he's put so many homes under contract here recently. I
don't even know which one where this one's at.
Speaker 2 (04:40):
It is funny listen to y'all talk about him, and
it's like getting getting my which one this one? That one? Yeah,
that's awesome.
Speaker 1 (04:45):
So that was good. Uh, oh I know exactly. That
was in Pelham in the Balanceree neighborhood. Oh you know,
I'll tell you. Actually pretty interesting this situation where uh,
this buyer is moving into town and she is actually
selling her home to a neighbor and uh so she
(05:06):
just needed like sixty or seventy five days to close
on the house this neighbor did and so she's obviously
once she gets done closing on that, she's going to
buy something up here. Well, Kyle made an offer on
a property that was that's been for sale maybe a
week and a half and it was just an extended
close date of November. They turned it down. Oh and
(05:26):
it was it was it was a above list price
offer right, they had didn't have any other offers. To
my knowledge, they hadn't received any offers turned it down,
And I don't know if it was at the advice
of the listing agent or if it was just like, hey,
you know, this is just not right timing. AnyWho, Guess
what they did next day They went out and looked
(05:49):
at more houses and they made an offer on somebody
on a house that they were like, yes, absolutely November,
it doesn't matter, like if you want to buy it,
we would love to sell it to you. So this
person lost an opportunity to sell their house. And I
don't know if it was because of their listing agent,
but a over thirty days willing an able buyer over
(06:11):
thirty days.
Speaker 2 (06:11):
And as we both know, I mean listen thirty days
as the standard, you can do them quicker, but as
somebody that just spent the summer with doing the move thing, yes,
you really need more time. I mean, like it's it's
a lot in those thirty days to get done. Like
I mean, like I you know, it's almost like you know,
I could have I could have lived with another thirty
days online.
Speaker 1 (06:30):
I mean it almost takes like a full time job
do It's like a full time job to get everything
ready to go to market, and then then you go
to market and then like then you got to move.
Speaker 2 (06:40):
And what do we talk about every week here? Like
how fast to the time goes? Thirty days? Is nothing?
I mean, I get you got other things and everybody's
got different motivating factors. But they may not get a
contract offer for another you know, for another two to
three weeks and then want to close in forty five
or thirty sixty days.
Speaker 1 (06:54):
There, it's going to be really interesting when out on
this one and that other house is still in the market.
Speaker 2 (07:00):
Keep it you got, you got that interesting and check
mark beside that one.
Speaker 1 (07:04):
Yeah, pretty much. Hey, let's let's go ahead and jump
into our mortgage payment game. Guess the mortgage payment and
we've got it. Looks like we've got one new listing.
We've got one coming soon. So a lot of times,
like Labor Day weekend is usually not a big listing
week for us or open houses or open houses. So
we don't have any open houses this weekend, so we're
(07:24):
kind of taking a break. We've had, like we've had
a bunch of open houses the last few weeks. So yeah,
so this is kind of like a break week from us,
and then we'll get, you know, back at it next week.
So so we're gonna go over go over the rules
real quick.
Speaker 2 (07:40):
I got you real quick. We're gonna guess. He's gonna
go over these listings I've got. He's gonna give you
all the details, and then he's gonna give us the
list price at the home. I'm gonna give a potential
down payment, and then Gusty and John will guess thirty
or fixed monthly principal interest only payment.
Speaker 1 (07:54):
John, John one about was that three weeks ago? Three
weeks ago? All right, let's see if he's due. You know,
we still remember that day.
Speaker 3 (08:02):
It was sunny, beautiful.
Speaker 1 (08:05):
Now it's a lot cooler. Yeah, the air is.
Speaker 2 (08:07):
Christ crisp over here.
Speaker 1 (08:10):
That stays.
Speaker 2 (08:11):
I've like for some long sleeve shirts. This swep it's
not quite cool enough for.
Speaker 3 (08:14):
But it's not fall for another I don't care if
it is Labor Day weekend. It's not fall for another
like three weeks in Alabama until October.
Speaker 1 (08:20):
That's right, that's right.
Speaker 2 (08:21):
And we'll still have a hundred degree day in October.
Speaker 1 (08:23):
So will well we're staying pretty busy in the Bluff
Park area and love the Bluff Park area. By the way,
we've got a new listing. It is located on Chapel
Road twenty sixteen Chapel Road and Hoover. This one is
on aero point three nine of an acre, so over
a third of an acre lot. It is between Park
(08:44):
Avenue and Shades Crest Road. Kind of give you a
little bit better idea of where it's located. This one
is four bedrooms, two and a half baths, built in
nineteen sixty thirty six hundred square feet three thousand, six
hundred square feet and we're asking five ninety nine, five
ninety nine for this property. And this one's listed courtesy
(09:04):
of t J. Cunningham on our team. And again four bedrooms,
two and a half baths, bent updated And this is
when when in ourselves meeting this past week, he called
it chalet chic. I've never heard that, but I loved
TJ's you know, hey, this home is chalet chic. So
there you go. Yeah, you know, I mean Bluff Park
(09:25):
was like, you know, many years ago. This is like
a resort area.
Speaker 2 (09:29):
Yeah, yeah, so that's cool.
Speaker 1 (09:31):
So there you go.
Speaker 2 (09:33):
All right, five ninety ninety nine, all right, we're gonna
put three percent down. The first time home buy are putting.
Speaker 1 (09:38):
Three percent percent down on five ninety nine, on five nine,
first time home you go up to eight hundred man
six Really okay? Three percent down? Yeah, that's not.
Speaker 3 (09:53):
Much down for that's not that's a lot of house
for a three percent a lot of house.
Speaker 2 (09:58):
That's why I'm using it. I'm letting people all you
need is three percent down.
Speaker 1 (10:01):
I'm gonna go with the thirty seven ninety nine.
Speaker 2 (10:08):
Thirty seven ninety.
Speaker 3 (10:13):
Ah, I feel I feel like it's gonna be higher
than that, but maybe not a lot higher.
Speaker 1 (10:22):
You never know.
Speaker 3 (10:24):
Thirty nine.
Speaker 2 (10:27):
Thirty six eighty is the actual payment Gusty gets round one.
Speaker 1 (10:33):
You didn't even let him finish. I am a chance
there was enough.
Speaker 2 (10:39):
Pause there where I thought thirty nine hundred was the number.
Speaker 1 (10:42):
Well, it did sound like it.
Speaker 2 (10:44):
It was only going to get worse from there.
Speaker 1 (10:45):
Well, ten million dollars so are so this one's gonna
be coming soon. But we're gonna go aha and talk
about It's also in Bluff Park again. Like I said,
we're busy in Bluff Park fourteen twenty four Chester Street.
This one was built in nineteen fifty seven. This one
is actually it used to be a three bedroom, two bath,
(11:05):
but it was renovated and converted to a two bedroom,
two bath, and it's like industrial meets Shelley chic, wonderful.
I was waiting for the no, it's super cool.
Speaker 2 (11:19):
He did.
Speaker 1 (11:19):
He did some very cool things, very industrial, like two bedrooms,
two baths, seventeen and twenty three square feet, which is
a huge two bedroom. So you know that there was
some conversion. You could put some things back, but I
mean with a cool house, great yard point three five
of an acre. That's a huge yard. Uh. And we're
asking three seventy five. And this listing is courtesy of
(11:41):
Kyle Bedgood. Kyle is on a roll. Congratulations to you,
Kyle on a new listing. Three seventy five.
Speaker 2 (11:48):
Three seventy five. We're gonna stick with a three percent now, okay,
we're gonna stick with it today it was enough gap there.
We're gonna stay with it three percent, three seventy.
Speaker 1 (11:56):
Five, twenty four hundred.
Speaker 2 (12:03):
I don't know what I'm doing.
Speaker 1 (12:05):
Twenty four hundred.
Speaker 2 (12:06):
I stick with it. I'd already written it.
Speaker 1 (12:13):
I'm gonna go with twenty three hundred.
Speaker 2 (12:19):
The actual payment was twenty three oh four.
Speaker 1 (12:21):
Oh. Hey, we were writing, Yeah, we had it bracketed,
y'all did all right? Well that's all. That's all. I've
got one bluff.
Speaker 2 (12:34):
You know, I had a tie breaker in there.
Speaker 1 (12:36):
Okay, we don't need it necessary. John, John just did
not step up to play the forum. Yeah, that's all right.
Speaker 3 (12:42):
There's more joy in Mydville today.
Speaker 1 (12:45):
Well, you know you've been you've been working too hard,
you know, each morning, helping out, so you know, you
haven't been really working on your math skills. That's my problem,
That's what it is. Hey, we've got a couple of
buyer needs we've got Oh by the way, we do
have a couple of coming soons. We've got something coming
up in the county right outside of Hoover. We've got
some things coming up in Alabaster. We've got a beautifully
(13:09):
renovated home coming up in the Hoover near the Hoover
Country Club. So we have some things that are coming
down the process that we're really excited about. So you
can always go to gustygoulisgroup dot com. You can call
to call or text two of five five four two
nineteen ninety six. I want to talk about some buyer needs.
We've got somebody that's looking for a home and Bluff
(13:31):
Park imagine that, but it needs a little bit of work.
They want a great lot, but they want to do
a bigger renovation, or at least some sort of renovation.
Then we've also got somebody that's looking in Shelby County,
it could be North Shelby County. They're looking for a
single story home with a pool, and I believe that's
up to four hundred and twenty five thousand, So that
(13:52):
has proved to be a little bit more difficult than
we thought. So we've got those immediate needs. And then
I've got some folks that are moving in from Mississippi
and we're looking up to eight fifty in either Homewood, Vestavia,
mountain Brook, or North Hoover. So if you have a
home that fits those needs, feel free to go to
(14:12):
our website gustygooulsgroup dot com. Hey guess what time it is.
That's right, it's testimonial time, all right. This one is
for Graham. Graham showed us any house we wanted to
see and made our schedule work no matter the time
or day. He found us exactly what we wanted in
(14:33):
the best location. He also made the entire process so
quick and easy. So how about that. Well, congratulations on
your new home, and congratulations to Graham on another five
star review. And last, but not least, today this is
a shout out to Alita. Alita was such a helpful
guid for us to find our dream home, and as
(14:56):
knowledgeable and communicative, would ask her to be our agent
again in a heartbeat. So congratulations on your new home
and Alita, congratulations on another five star review, maam. Look
at that. Two more five star reviews this week, ladies
and getting it. Love that, love it, love it, love it,
(15:18):
love it. If you'd like to be our next five
star review.
Speaker 2 (15:21):
You know where to go.
Speaker 1 (15:22):
Gusty Goolis Group doud Can that's right, hey, stay tuned.
We're going to talk about where rates are and a
little bit about what we're seeing in the market right
here on Bob Barn and Sold. Stay tuned, all right,
Welcome back to ball Barn and Sold. I hope you're
enjoying your Labor Day weekend. And as always, we've got
(15:44):
Brad Smith from Cross Country Mortgage in our studio and
he always does such a great job of giving us
an update on what we're seeing in the mortgage world,
which is, you know, a huge indicator of the real
estate sell siting business. So I mean, we love our
cash bures. Don't get me wrong, do we? But oh,
(16:06):
I know I do? You don't I do? I love
our cash buyers. But you know what I what I
need is rates to drop a little bit, That's right.
So what are you seeing in your crystal ball there,
brad Well?
Speaker 2 (16:18):
In the past this past week we did see some
rates drop. We've had some really good movement in the
bond market. I think people are starting to see some
of the reading between the lines a little better. I
think that you know, we talked about last week the
kind anticipation of what the Fed is going to do.
You know, we kind of dropped down to seventies, back
up close to ninety percent confidence that they're going to
do at least a quarter drop on September eighteenth. So
that's huge and awesome. I think what they're seeing now
(16:42):
this week we kind of saw is inflation went up
a little The numbers for like pc CPI and they
went up a little bit. But it was honestly it
was less than they expected. The tariffs didn't have as
much of an impact, and they've even mentioned keep mentioning
that's some one time thing kind of that that that
the way that impacts your your numbers. So it hasn't
been impact, and the tariffs haven't been as bad for
(17:02):
inflation as maybe some we're scared of. So the bond
market treacted well, so that means rates have come down some.
So we're we're probably close to like two tenths of
a percent down on the interest rate. So you know,
we're we're trending right towards six six six and a
half on on an average thirty year fixed rates. So
it means you've got some options to get below that,
some to get a little above that. But baby someone
that range. Baby steps come on, come on, and so
(17:25):
we're looking at, you know, hopefully some good news going
forward with that. You know, you know, you've you've mentioned
it a lot about watching that ten year treasury, which
is a which is a you know, a great indicator
and easy to find when sometimes you can get mixed
things if you search like mortgage rates and everything else.
You know, we're we're hoping we can get that down
to close to four percent on the ten year and
that should correlate to about six and a quarter on
(17:48):
six point twenty five percent on thirty year fixed rates.
So if we can keep trending this direction, just keep
I don't even think we need big news stories. We
just needed to keep trending like we all think it is.
They're some of the numbers are getting cleaned up. You know,
a couple of the numbers we talk about being kind
of kind of goofy are you know your unemployment numbers
that get stated kind of inaccurately, And so you've got
some FED members saying that that the job market is okay.
(18:11):
And when you start looking at people, what they look
what they judge that by is like who's find initial
claims for benefits that have lost their jobs and what?
But what what they're not getting back in that numbers
are after six months those people fall off benefits. So
there's actually an extra nine hundred thousand people out there
that are unemployed that aren't receiving benefits that once were
after after they expired from it. So like people people
(18:33):
that are losing their jobs are having a harder time
finding one than they have been. So that's that's going
to be the indicator we're going to keep an eye
on that. That should make rates continue to drop. Unfortunately,
I mean that's not what we want.
Speaker 1 (18:43):
For bad news is good news.
Speaker 2 (18:44):
For bad news is good news. And so that's that's
one of the indicators. And another thing that's kind of
screwing up with the inflation numbers is that kind of
how they do the rental for so for housing numbers,
which is a huge factor in there on the rentals,
they really only like for apartment rentals that they only
with what the new rents are. So the new rents
have actually dropped some from last year, about three percent
(19:05):
of rents nationwide, so that's showing that, but what it's
not so, but they're still showing like three and a
half to the almost four percent of an increase in
that piece of it. So it means they're given a
factor of like that all renewals went up nine percent,
which we know isn't the case. So even that number
is going to be inflated on your inflation numbers right now.
So that those are some just a couple of the
(19:25):
things that are still inflating. The mortgage racts higher than
they should be and we're still seeing some decreases. So
as we as people start drilling through the headline numbers
and kind of really seeing what's in there that's creating this,
I think we'll continue to see rates drop over the
next week or two without pending anything that comes out
and somebody saying something you know, off the wall that
(19:46):
makes everybody freak out or impacts anything, and we should
continue to see it kind of tick down hopefully get
hopefully you know, middle September. By in the September, we're
a lot closer to six point two five.
Speaker 1 (19:55):
Yeah, yeah, man, that would be awesome. I mean just
a year ago we got down to like five nine
none and man, we saw we saw a spike.
Speaker 2 (20:03):
And it was this time of year. So I mean
that's what's funny. As you see, like you see these
trends like this. I mean we were talking about the
same dates, you know, this last year with July thirty
first and September seventeenth, I think, and this year it's
the thirty thirty first in the in the eighteenth. Yeah,
but you know, I feel like it just feels real
early similar to mirror mirroring each other almost so so
(20:24):
it's just interesting to kind of see what what all
is going to go down, But that's pretty much what
we've got in my world. What I know, I didn't
give you much time last week. I kind of went
along the last week.
Speaker 1 (20:32):
So you know, you know, I feel like what we
are seeing, we're seeing our inventory increase a little bit,
and I think that's a great sign for home buyers.
It's given them more options. But what I think some
of our home sellers have to realize is with more competition,
either it's going to hit us in one of two places.
(20:55):
Either our days on market are going to be a
lot longer, or maybe not a lot longer, but it's
going to be longer, or pricing you're going to have
to be very competitive from a pricing standpoint. And so,
you know, I feel like the buyers that are out
there right now, they they're having to move, you know,
they're in an apartment and a lease is up. They
(21:17):
may be having a baby, they may be early planning
for school districts for next year, which I've I've got
multiple people doing that. Actually death we talked about the
state's you know, worked with a lot of the states
this past year. And then you know, job relocation, you know,
whether it's somebody got a job, whether it's somebody lost
(21:39):
a job or relocated for a job. So those are
typically the reasons why somebody's making basically a change. So
you know, and let until we can get in my opinion,
rates down to five and a half, maybe a little higher.
But I think really, in my opinion, the perfect rate
(22:01):
is five and a half percent. I don't think we've
got to be in the force. No, the investors need
to make their money. No, I think a mid five
interest rate is a healthy market balanced.
Speaker 2 (22:13):
It's a very I'm in I'm in the same boat.
Somewhere in that range is very balanced. You know, it
would it would give a push up because I think
I think one of the pushing factors we're gonna get there,
going back to mortgage rates, we're gonna get there because
appreciation is slowing down. I mean, we're seeing that across
across the country, and that's that they nobody wants that
to happen again, where people start feeling like they're starts,
(22:35):
you know, depreciating or values dropping below and so and
not saying we're getting there, but just saying we are
seeing a trend. We're appreciation slowing down, and so that's
not what anybody wants at any level. So I think
I think them kind of moving the rates to get
it that little bit of a comfortable spot. Yeah, well
we'll get rid of some of the sticker shock.
Speaker 1 (22:55):
Yeah, one hundred percent. One hundred percent. So I'm really uh.
I will say I had a friend of mine that
sells a lot of real estate in South Alabama that
mentors a lot of agents. He seemed to be very
excited about where where we are at, and he really,
(23:16):
I mean it was it was a great I got
one of his emails. It was a great email, and
it was just talking about like trying to get agents
amped up and excited. And he's like, man, you know,
the next ninety days, this is a great opportunity. If
you work hard, it's good. You're you will absolutely see
the fruits of your labor.
Speaker 2 (23:35):
And we're about to have you know, we're gonna have
the you know, at some point, the most first time
home sellers. Yeah ever, yeah, and so we've got a
bunch of them that are you know, going to learn
that step. So what's going to get to all?
Speaker 1 (23:45):
Right, for any real estate needs go to Gustygilsgroup dot com.
You can call or text two O five five four
two nineteen ninety six. And if you want to go
ahead and get pre qualified for a mortgage, go to
Bradsmithlans dot com. All right, Brad, thank you so much, John,
thank you as always.
Speaker 2 (24:00):
Great Labor day.
Speaker 1 (24:01):
Yeah, you'll have a great one. See you next time.
Hello, Hello, good day, Good morning everybody. Brad Smith is
going to be hanging out with us. He's in the
studio from Cross Country Mortgage.
Speaker 2 (00:09):
Brad. What's up, dude, man? How are you?
Speaker 1 (00:11):
I'm good. It's Labor Day weekends. Labor Day weekend. Actually,
I'm actually at the lake listening to this right now.
We do a little recording early action so that we could,
you know, have our Labor Day weekend ourselves.
Speaker 2 (00:26):
That's right, So so a little pre recorded, but still
got all the good updates and you know what's going on.
Speaker 1 (00:31):
So so you know, hopefully your team won yesterday.
Speaker 2 (00:35):
Yeah, we don't know or two days ago, all right, but.
Speaker 1 (00:37):
We can do our predictions. All right. Who's Auburn playing, Brad?
Speaker 2 (00:39):
They're playing Baylor on Friday night? So oh on Friday night?
Speaker 1 (00:43):
Is that?
Speaker 2 (00:43):
That's what I said two days most two days before.
Speaker 1 (00:45):
I wonder if you're going to be able to see it.
I heard about the Fox like blackout.
Speaker 2 (00:49):
There there's a short term agreement.
Speaker 1 (00:51):
Oh is there?
Speaker 2 (00:52):
Yeah, they figured it out, but they didn't say how
short term the agreement was. They didn't really say it
was going to cover games this weekend. But I'm assuming
that would be the short term that would trying to
well bridge. I'm really hopeful that I still, no matter
no matter what, I pull for the SEC SEC first
and foremost, and so hopefully they will beat Baylor.
Speaker 1 (01:14):
I don't pull for the SEC first, but I do
pull for Alabama. Excuse me, I pull for Alabama first,
then I pull for the SEC.
Speaker 2 (01:20):
Right with that, right, But I will pull for Alabama
when they're not playing some like we're not playing Alburn
and stuff. But I do not. I do not traditionally
just for the SEC across the board. Yeah, okay, so
that's that's my maybe my outlier.
Speaker 1 (01:33):
Okay, Well, you know, it's it's interesting in the fall
season that when when from a real estate perspective, you
have so many people going in and out of town
to football games, right, and so whether you're going down
to Tuscaloosa, going down to Auburn. You know, I find
it's very comparable to like summer season.
Speaker 2 (01:55):
It is.
Speaker 1 (01:56):
It is because you've got, you know, in summer season,
you've got people going out on vacations and so, but
it's very hit or miss. You've got people that like
some weeks are super busy some weeks or not. Maybe
the ones that are super busy. Are the away game weekends?
Speaker 2 (02:10):
Yeah, yeah, yeah, you know I think to that point,
like away game weekends and even like you know, I
think it does pick up someone like you know, you've
got the first weekend, maybe Labor Day people aren't you know,
they're gonna really be going out of town them this
weekend more. But you know, you may also get like
a lot of football tailgate parties at people's homes and
some more people riding around seeing for sale signs and
can kind of get some things motivated and maybe spark
(02:33):
something back there. So maybe you know, people getting out
some also, sure it kind of helps find some things.
So we'll see how it goes.
Speaker 1 (02:38):
Yeah, we shall see. Well, hopefully your team has won.
You woke up this morning and and uh everything is good.
So yeah, we're gonna talk a little bit about what
we're seeing in the real estate world, what we're seeing
in the mortgage world in our next segment. Uh, I
do got some shout outs, man, shout outs. Yeah, I
got some shout outs. So I want to reach out
(03:00):
to celebrate some of my team members. And it's so
you know, I had it all teed up and then
like people.
Speaker 2 (03:08):
To start saying when you pipe up the shout music, I.
Speaker 1 (03:13):
Don't know, all right. So Tim Lance has been busy
for homes under contract this past week.
Speaker 2 (03:20):
I was pretty consistent of the last few weeks. Yeah,
he's had.
Speaker 1 (03:23):
Multiple He's got an investor that's that's buying. So you know,
if you if you're looking to sell your home, and
I would say up to about one hundred and twenty thousand,
whether it's currently a rental home or or it could
be a great opportunity to be a rental home in
the Greater Birmingham area, up to one twenty give us
a call. We've got a buyer that is buying right now.
(03:45):
So that that really wasn't you know. I just wanted
to add that little ear mark. But I also want
to give shout outs to Carlo Deliberto for a contract
actually was in Aniston, Albi. So we don't go to
Aniston very much, but for this client we did and
we got one under contract on a old historic brick
tutor so it was a very cool house. Yep. Tony
(04:08):
McDaniels on another home under contract, Ashley Stags on a
home under contract in the Huey Town area. I was
actually with Ashley when she showed her folks this house,
wonderful house. We've got Blake Johnson with a home in
Leeds under contract, So congratulations to you, Blake. And uh
(04:29):
and then Kyle Bedgood with another home under contract. And
he's put so many homes under contract here recently. I
don't even know which one where this one's at.
Speaker 2 (04:40):
It is funny listen to y'all talk about him, and
it's like getting getting my which one this one? That one? Yeah,
that's awesome.
Speaker 1 (04:45):
So that was good. Uh, oh I know exactly. That
was in Pelham in the Balanceree neighborhood. Oh you know,
I'll tell you. Actually pretty interesting this situation where uh,
this buyer is moving into town and she is actually
selling her home to a neighbor and uh so she
(05:06):
just needed like sixty or seventy five days to close
on the house this neighbor did and so she's obviously
once she gets done closing on that, she's going to
buy something up here. Well, Kyle made an offer on
a property that was that's been for sale maybe a
week and a half and it was just an extended
close date of November. They turned it down. Oh and
(05:26):
it was it was it was a above list price
offer right, they had didn't have any other offers. To
my knowledge, they hadn't received any offers turned it down,
And I don't know if it was at the advice
of the listing agent or if it was just like, hey,
you know, this is just not right timing. AnyWho, Guess
what they did next day They went out and looked
(05:49):
at more houses and they made an offer on somebody
on a house that they were like, yes, absolutely November,
it doesn't matter, like if you want to buy it,
we would love to sell it to you. So this
person lost an opportunity to sell their house. And I
don't know if it was because of their listing agent,
but a over thirty days willing an able buyer over
(06:11):
thirty days.
Speaker 2 (06:11):
And as we both know, I mean listen thirty days
as the standard, you can do them quicker, but as
somebody that just spent the summer with doing the move thing, yes,
you really need more time. I mean, like it's it's
a lot in those thirty days to get done. Like
I mean, like I you know, it's almost like you know,
I could have I could have lived with another thirty
days online.
Speaker 1 (06:30):
I mean it almost takes like a full time job
do It's like a full time job to get everything
ready to go to market, and then then you go
to market and then like then you got to move.
Speaker 2 (06:40):
And what do we talk about every week here? Like
how fast to the time goes? Thirty days? Is nothing?
I mean, I get you got other things and everybody's
got different motivating factors. But they may not get a
contract offer for another you know, for another two to
three weeks and then want to close in forty five
or thirty sixty days.
Speaker 1 (06:54):
There, it's going to be really interesting when out on
this one and that other house is still in the market.
Speaker 2 (07:00):
Keep it you got, you got that interesting and check
mark beside that one.
Speaker 1 (07:04):
Yeah, pretty much. Hey, let's let's go ahead and jump
into our mortgage payment game. Guess the mortgage payment and
we've got it. Looks like we've got one new listing.
We've got one coming soon. So a lot of times,
like Labor Day weekend is usually not a big listing
week for us or open houses or open houses. So
we don't have any open houses this weekend, so we're
(07:24):
kind of taking a break. We've had, like we've had
a bunch of open houses the last few weeks. So yeah,
so this is kind of like a break week from us,
and then we'll get, you know, back at it next week.
So so we're gonna go over go over the rules
real quick.
Speaker 2 (07:40):
I got you real quick. We're gonna guess. He's gonna
go over these listings I've got. He's gonna give you
all the details, and then he's gonna give us the
list price at the home. I'm gonna give a potential
down payment, and then Gusty and John will guess thirty
or fixed monthly principal interest only payment.
Speaker 1 (07:54):
John, John one about was that three weeks ago? Three
weeks ago? All right, let's see if he's due. You know,
we still remember that day.
Speaker 3 (08:02):
It was sunny, beautiful.
Speaker 1 (08:05):
Now it's a lot cooler. Yeah, the air is.
Speaker 2 (08:07):
Christ crisp over here.
Speaker 1 (08:10):
That stays.
Speaker 2 (08:11):
I've like for some long sleeve shirts. This swep it's
not quite cool enough for.
Speaker 3 (08:14):
But it's not fall for another I don't care if
it is Labor Day weekend. It's not fall for another
like three weeks in Alabama until October.
Speaker 1 (08:20):
That's right, that's right.
Speaker 2 (08:21):
And we'll still have a hundred degree day in October.
Speaker 1 (08:23):
So will well we're staying pretty busy in the Bluff
Park area and love the Bluff Park area. By the way,
we've got a new listing. It is located on Chapel
Road twenty sixteen Chapel Road and Hoover. This one is
on aero point three nine of an acre, so over
a third of an acre lot. It is between Park
(08:44):
Avenue and Shades Crest Road. Kind of give you a
little bit better idea of where it's located. This one
is four bedrooms, two and a half baths, built in
nineteen sixty thirty six hundred square feet three thousand, six
hundred square feet and we're asking five ninety nine, five
ninety nine for this property. And this one's listed courtesy
(09:04):
of t J. Cunningham on our team. And again four bedrooms,
two and a half baths, bent updated And this is
when when in ourselves meeting this past week, he called
it chalet chic. I've never heard that, but I loved
TJ's you know, hey, this home is chalet chic. So
there you go. Yeah, you know, I mean Bluff Park
(09:25):
was like, you know, many years ago. This is like
a resort area.
Speaker 2 (09:29):
Yeah, yeah, so that's cool.
Speaker 1 (09:31):
So there you go.
Speaker 2 (09:33):
All right, five ninety ninety nine, all right, we're gonna
put three percent down. The first time home buy are putting.
Speaker 1 (09:38):
Three percent percent down on five ninety nine, on five nine,
first time home you go up to eight hundred man
six Really okay? Three percent down? Yeah, that's not.
Speaker 3 (09:53):
Much down for that's not that's a lot of house
for a three percent a lot of house.
Speaker 2 (09:58):
That's why I'm using it. I'm letting people all you
need is three percent down.
Speaker 1 (10:01):
I'm gonna go with the thirty seven ninety nine.
Speaker 2 (10:08):
Thirty seven ninety.
Speaker 3 (10:13):
Ah, I feel I feel like it's gonna be higher
than that, but maybe not a lot higher.
Speaker 1 (10:22):
You never know.
Speaker 3 (10:24):
Thirty nine.
Speaker 2 (10:27):
Thirty six eighty is the actual payment Gusty gets round one.
Speaker 1 (10:33):
You didn't even let him finish. I am a chance
there was enough.
Speaker 2 (10:39):
Pause there where I thought thirty nine hundred was the number.
Speaker 1 (10:42):
Well, it did sound like it.
Speaker 2 (10:44):
It was only going to get worse from there.
Speaker 1 (10:45):
Well, ten million dollars so are so this one's gonna
be coming soon. But we're gonna go aha and talk
about It's also in Bluff Park again. Like I said,
we're busy in Bluff Park fourteen twenty four Chester Street.
This one was built in nineteen fifty seven. This one
is actually it used to be a three bedroom, two bath,
(11:05):
but it was renovated and converted to a two bedroom,
two bath, and it's like industrial meets Shelley chic, wonderful.
I was waiting for the no, it's super cool.
Speaker 2 (11:19):
He did.
Speaker 1 (11:19):
He did some very cool things, very industrial, like two bedrooms,
two baths, seventeen and twenty three square feet, which is
a huge two bedroom. So you know that there was
some conversion. You could put some things back, but I
mean with a cool house, great yard point three five
of an acre. That's a huge yard. Uh. And we're
asking three seventy five. And this listing is courtesy of
(11:41):
Kyle Bedgood. Kyle is on a roll. Congratulations to you,
Kyle on a new listing. Three seventy five.
Speaker 2 (11:48):
Three seventy five. We're gonna stick with a three percent now, okay,
we're gonna stick with it today it was enough gap there.
We're gonna stay with it three percent, three seventy.
Speaker 1 (11:56):
Five, twenty four hundred.
Speaker 2 (12:03):
I don't know what I'm doing.
Speaker 1 (12:05):
Twenty four hundred.
Speaker 2 (12:06):
I stick with it. I'd already written it.
Speaker 1 (12:13):
I'm gonna go with twenty three hundred.
Speaker 2 (12:19):
The actual payment was twenty three oh four.
Speaker 1 (12:21):
Oh. Hey, we were writing, Yeah, we had it bracketed,
y'all did all right? Well that's all. That's all. I've
got one bluff.
Speaker 2 (12:34):
You know, I had a tie breaker in there.
Speaker 1 (12:36):
Okay, we don't need it necessary. John, John just did
not step up to play the forum. Yeah, that's all right.
Speaker 3 (12:42):
There's more joy in Mydville today.
Speaker 1 (12:45):
Well, you know you've been you've been working too hard,
you know, each morning, helping out, so you know, you
haven't been really working on your math skills. That's my problem,
That's what it is. Hey, we've got a couple of
buyer needs we've got Oh by the way, we do
have a couple of coming soons. We've got something coming
up in the county right outside of Hoover. We've got
some things coming up in Alabaster. We've got a beautifully
(13:09):
renovated home coming up in the Hoover near the Hoover
Country Club. So we have some things that are coming
down the process that we're really excited about. So you
can always go to gustygoulisgroup dot com. You can call
to call or text two of five five four two
nineteen ninety six. I want to talk about some buyer needs.
We've got somebody that's looking for a home and Bluff
(13:31):
Park imagine that, but it needs a little bit of work.
They want a great lot, but they want to do
a bigger renovation, or at least some sort of renovation.
Then we've also got somebody that's looking in Shelby County,
it could be North Shelby County. They're looking for a
single story home with a pool, and I believe that's
up to four hundred and twenty five thousand, So that
(13:52):
has proved to be a little bit more difficult than
we thought. So we've got those immediate needs. And then
I've got some folks that are moving in from Mississippi
and we're looking up to eight fifty in either Homewood, Vestavia,
mountain Brook, or North Hoover. So if you have a
home that fits those needs, feel free to go to
(14:12):
our website gustygooulsgroup dot com. Hey guess what time it is.
That's right, it's testimonial time, all right. This one is
for Graham. Graham showed us any house we wanted to
see and made our schedule work no matter the time
or day. He found us exactly what we wanted in
(14:33):
the best location. He also made the entire process so
quick and easy. So how about that. Well, congratulations on
your new home, and congratulations to Graham on another five
star review. And last, but not least, today this is
a shout out to Alita. Alita was such a helpful
guid for us to find our dream home, and as
(14:56):
knowledgeable and communicative, would ask her to be our agent
again in a heartbeat. So congratulations on your new home
and Alita, congratulations on another five star review, maam. Look
at that. Two more five star reviews this week, ladies
and getting it. Love that, love it, love it, love it,
(15:18):
love it. If you'd like to be our next five
star review.
Speaker 2 (15:21):
You know where to go.
Speaker 1 (15:22):
Gusty Goolis Group doud Can that's right, hey, stay tuned.
We're going to talk about where rates are and a
little bit about what we're seeing in the market right
here on Bob Barn and Sold. Stay tuned, all right,
Welcome back to ball Barn and Sold. I hope you're
enjoying your Labor Day weekend. And as always, we've got
(15:44):
Brad Smith from Cross Country Mortgage in our studio and
he always does such a great job of giving us
an update on what we're seeing in the mortgage world,
which is, you know, a huge indicator of the real
estate sell siting business. So I mean, we love our
cash bures. Don't get me wrong, do we? But oh,
(16:06):
I know I do? You don't I do? I love
our cash buyers. But you know what I what I
need is rates to drop a little bit, That's right.
So what are you seeing in your crystal ball there,
brad Well?
Speaker 2 (16:18):
In the past this past week we did see some
rates drop. We've had some really good movement in the
bond market. I think people are starting to see some
of the reading between the lines a little better. I
think that you know, we talked about last week the
kind anticipation of what the Fed is going to do.
You know, we kind of dropped down to seventies, back
up close to ninety percent confidence that they're going to
do at least a quarter drop on September eighteenth. So
that's huge and awesome. I think what they're seeing now
(16:42):
this week we kind of saw is inflation went up
a little The numbers for like pc CPI and they
went up a little bit. But it was honestly it
was less than they expected. The tariffs didn't have as
much of an impact, and they've even mentioned keep mentioning
that's some one time thing kind of that that that
the way that impacts your your numbers. So it hasn't
been impact, and the tariffs haven't been as bad for
(17:02):
inflation as maybe some we're scared of. So the bond
market treacted well, so that means rates have come down some.
So we're we're probably close to like two tenths of
a percent down on the interest rate. So you know,
we're we're trending right towards six six six and a
half on on an average thirty year fixed rates. So
it means you've got some options to get below that,
some to get a little above that. But baby someone
that range. Baby steps come on, come on, and so
(17:25):
we're looking at, you know, hopefully some good news going
forward with that. You know, you know, you've you've mentioned
it a lot about watching that ten year treasury, which
is a which is a you know, a great indicator
and easy to find when sometimes you can get mixed
things if you search like mortgage rates and everything else.
You know, we're we're hoping we can get that down
to close to four percent on the ten year and
that should correlate to about six and a quarter on
(17:48):
six point twenty five percent on thirty year fixed rates.
So if we can keep trending this direction, just keep
I don't even think we need big news stories. We
just needed to keep trending like we all think it is.
They're some of the numbers are getting cleaned up. You know,
a couple of the numbers we talk about being kind
of kind of goofy are you know your unemployment numbers
that get stated kind of inaccurately, And so you've got
some FED members saying that that the job market is okay.
(18:11):
And when you start looking at people, what they look
what they judge that by is like who's find initial
claims for benefits that have lost their jobs and what?
But what what they're not getting back in that numbers
are after six months those people fall off benefits. So
there's actually an extra nine hundred thousand people out there
that are unemployed that aren't receiving benefits that once were
after after they expired from it. So like people people
(18:33):
that are losing their jobs are having a harder time
finding one than they have been. So that's that's going
to be the indicator we're going to keep an eye
on that. That should make rates continue to drop. Unfortunately,
I mean that's not what we want.
Speaker 1 (18:43):
For bad news is good news.
Speaker 2 (18:44):
For bad news is good news. And so that's that's
one of the indicators. And another thing that's kind of
screwing up with the inflation numbers is that kind of
how they do the rental for so for housing numbers,
which is a huge factor in there on the rentals,
they really only like for apartment rentals that they only
with what the new rents are. So the new rents
have actually dropped some from last year, about three percent
(19:05):
of rents nationwide, so that's showing that, but what it's
not so, but they're still showing like three and a
half to the almost four percent of an increase in
that piece of it. So it means they're given a
factor of like that all renewals went up nine percent,
which we know isn't the case. So even that number
is going to be inflated on your inflation numbers right now.
So that those are some just a couple of the
(19:25):
things that are still inflating. The mortgage racts higher than
they should be and we're still seeing some decreases. So
as we as people start drilling through the headline numbers
and kind of really seeing what's in there that's creating this,
I think we'll continue to see rates drop over the
next week or two without pending anything that comes out
and somebody saying something you know, off the wall that
(19:46):
makes everybody freak out or impacts anything, and we should
continue to see it kind of tick down hopefully get
hopefully you know, middle September. By in the September, we're
a lot closer to six point two five.
Speaker 1 (19:55):
Yeah, yeah, man, that would be awesome. I mean just
a year ago we got down to like five nine
none and man, we saw we saw a spike.
Speaker 2 (20:03):
And it was this time of year. So I mean
that's what's funny. As you see, like you see these
trends like this. I mean we were talking about the
same dates, you know, this last year with July thirty
first and September seventeenth, I think, and this year it's
the thirty thirty first in the in the eighteenth. Yeah,
but you know, I feel like it just feels real
early similar to mirror mirroring each other almost so so
(20:24):
it's just interesting to kind of see what what all
is going to go down, But that's pretty much what
we've got in my world. What I know, I didn't
give you much time last week. I kind of went
along the last week.
Speaker 1 (20:32):
So you know, you know, I feel like what we
are seeing, we're seeing our inventory increase a little bit,
and I think that's a great sign for home buyers.
It's given them more options. But what I think some
of our home sellers have to realize is with more competition,
either it's going to hit us in one of two places.
(20:55):
Either our days on market are going to be a
lot longer, or maybe not a lot longer, but it's
going to be longer, or pricing you're going to have
to be very competitive from a pricing standpoint. And so,
you know, I feel like the buyers that are out
there right now, they they're having to move, you know,
they're in an apartment and a lease is up. They
(21:17):
may be having a baby, they may be early planning
for school districts for next year, which I've I've got
multiple people doing that. Actually death we talked about the
state's you know, worked with a lot of the states
this past year. And then you know, job relocation, you know,
whether it's somebody got a job, whether it's somebody lost
(21:39):
a job or relocated for a job. So those are
typically the reasons why somebody's making basically a change. So
you know, and let until we can get in my opinion,
rates down to five and a half, maybe a little higher.
But I think really, in my opinion, the perfect rate
(22:01):
is five and a half percent. I don't think we've
got to be in the force. No, the investors need
to make their money. No, I think a mid five
interest rate is a healthy market balanced.
Speaker 2 (22:13):
It's a very I'm in I'm in the same boat.
Somewhere in that range is very balanced. You know, it
would it would give a push up because I think
I think one of the pushing factors we're gonna get there,
going back to mortgage rates, we're gonna get there because
appreciation is slowing down. I mean, we're seeing that across
across the country, and that's that they nobody wants that
to happen again, where people start feeling like they're starts,
(22:35):
you know, depreciating or values dropping below and so and
not saying we're getting there, but just saying we are
seeing a trend. We're appreciation slowing down, and so that's
not what anybody wants at any level. So I think
I think them kind of moving the rates to get
it that little bit of a comfortable spot. Yeah, well
we'll get rid of some of the sticker shock.
Speaker 1 (22:55):
Yeah, one hundred percent. One hundred percent. So I'm really uh.
I will say I had a friend of mine that
sells a lot of real estate in South Alabama that
mentors a lot of agents. He seemed to be very
excited about where where we are at, and he really,
(23:16):
I mean it was it was a great I got
one of his emails. It was a great email, and
it was just talking about like trying to get agents
amped up and excited. And he's like, man, you know,
the next ninety days, this is a great opportunity. If
you work hard, it's good. You're you will absolutely see
the fruits of your labor.
Speaker 2 (23:35):
And we're about to have you know, we're gonna have
the you know, at some point, the most first time
home sellers. Yeah ever, yeah, and so we've got a
bunch of them that are you know, going to learn
that step. So what's going to get to all?
Speaker 1 (23:45):
Right, for any real estate needs go to Gustygilsgroup dot com.
You can call or text two O five five four
two nineteen ninety six. And if you want to go
ahead and get pre qualified for a mortgage, go to
Bradsmithlans dot com. All right, Brad, thank you so much, John,
thank you as always.
Speaker 2 (24:00):
Great Labor day.
Speaker 1 (24:01):
Yeah, you'll have a great one. See you next time.
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