What happened with the sale of Birmingham Southern?

Episode Transcript

Speaker 1 (00:00):
All right, welcome to Bolbard and Salt. It is the
After Thanksgiving edition and Brad Smith bradsmithlons dot com, Cross
Country Mortgage. How much food did you eat for Thanksgiving?

Speaker 2 (00:19):
It's it's an embarrassing amount. Yeah, it is definitely past
the point and went into the gluttony zone.

Speaker 1 (00:26):
I had some Uh, I had some salads with a
grilled chicken or earlier this week just to you know,
kind of be in preparation for all the food I
was about to eat. So uh that that that that
saved me a couple of pounds.

Speaker 2 (00:42):
Probably is gluttony something that you go into after Thanksgiving
when you're Catholic and go in and make your confessions like, hey,
I got that third plate, and I know that I
need what I need to do.

Speaker 1 (00:53):
I do everything I cannot to go for the third plate.
I'm usually I'm usually pretty steady for a second plate. Yeah,
but the third plate, Well, it also depends on are
you getting a plate or are you getting a platter?

Speaker 2 (01:05):
Well yeah, so a lot of times it's it's just again,
ours are plates. But okay, it's it's you know, if
I took a picture of it, you go, that's that's
not a plate of food. That's that's just a mountain.

Speaker 1 (01:16):
I think we need to get John in on this one.
Are you more of like a it plates or platters
for y'all? Uh?

Speaker 3 (01:22):
You know, I here's my strategy. I like to first
approach and get get the tiny bit of everything to.

Speaker 4 (01:27):
See what's going to be good.

Speaker 2 (01:28):
Yep.

Speaker 3 (01:28):
I don't want to waste unnecessary stomach space on you know,
the potatoes or the corn, if the you know, say
the Sioux fle or some something's better. So so first
you hit up with a single plate and a little
bit of everything. Okay, then you swoop back in and
that's when you go for it.

Speaker 1 (01:44):
Ooh, he has the strategy so interesting, So I where
I go with it?

Speaker 2 (01:49):
Like usually our big Thanksgiving is that my mama's house,
so you know, Mama takes care of it. But here,
but the deal of that it is, you know, in
the past, you know, twenty thirty years, nobody's brought anything
to front, so you know what you're getting. I mean,
you know there there there was a very rarely is
there a curve ball in there, So there's nothing to try.
You know, you're going all in with what you're going with.

(02:10):
But to John's point, I will skip on rolls just
because that is the most.

Speaker 4 (02:14):
Wes to fill up on bread. That's what they always tell.

Speaker 2 (02:16):
You, right, well, and you've got enough corn bread stuff
or we do corn bread dressing, and so that's there's
there's enough in that where I don't need any rolls.

Speaker 3 (02:26):
And I like, I like to have the roles ready
to go for after Thanksgiving so that I can make
the stand because all this week I'm gonna beving sandwiches
right tate that in Turkey, that am little cheese. I
always I buy stuff at the store specifically planning for
the for the leftover.

Speaker 2 (02:39):
That's when the Sister Schubert rolls come into play, right exactly,
little sliders.

Speaker 1 (02:43):
What they are, well, you know, you know for Thanksgiving,
you know, well everybody starts going Tom off, yes, and
you know what they start thinking about when Tom is off.
They start thinking about real estate and want to see houses.

Speaker 2 (02:55):
Yea, they do.

Speaker 1 (02:56):
So we were busy, like you know, people are coming
in town, you know, so a lot of times like well,
people will come in town, you know, and and and
you've got your family members trying to recruit people to
come like move back in town or maybe you've got
your family members trying to get you out of Yeah.

Speaker 2 (03:14):
Yeah, yeah that you didn't see that house. That house
is too close to our house. Yeah, that for sale
signs too close to ours. We need to find you
another one, that's right. I do think there is a
lot of people being out a lot more that they
do pass a lot of you know, they're driving through
more neighborhoods, they see more listing signs, and they start
going do you know. I do think these these holidays

(03:36):
do spark a little bit of that that that kind
of a bump up because I usually I feel like
November is a little usually a little slower, and then
December has a nice little kind of blip up. Well yeah,
and then we slow back down a little bit of
January and then picked back up and then it's full
bar ahead.

Speaker 1 (03:52):
So well, I find that some people want to be
in a house for the holidays. Like I made an
offer last week. Yeah it was last week. I made
an offer on a home and and really the motivation
that they had was to get in the home before
the holidays. We couldn't come to an agreement on this property. However,
you know, we we made an offer. What we thought

(04:14):
the value of the home was and this we felt
like this house was overpriced and for it was in
good condition, but also like some of the some of
the what they considered updates had already been dated, right,
and and so they were trying to get top dollar
on a house that would didn't have like today's updates.

(04:34):
And so you know, we came in with what we
thought was a very fair offer. We also realized that
the square footage that they were marketing was a thousand
square feet off. That makes a big difference. So that
makes a big difference. And and we and we went
over that, you know, with our negotiations and an offer
on that. But you know, so so I was talking
with them this week and and we couldn't come to

(04:57):
a deal, and they were like, you know, we're just
kind of you know, our motivation was to get in
before Christmas, but now that you know, I mean, theoretically
you could still get in before Christmas if kind of
the Star's line, but it's like, you know, we have
less motivation at this point.

Speaker 2 (05:16):
Right, you found a house that you thought was going
to be the house that you couldn't see yourself in
by that time, and now it's now you're resetting and
having to find something else, and then you're like, you know,
able to see what kind of comes on the market
in the spring.

Speaker 1 (05:27):
So yeah, so so we'll see. It'll be interesting to Tom.
I'm actually, you know, I think that this is a
house and that's in Mountain Brook, and I think in
the next couple of days, you know, I'm hoping that
they're going to give us a call because we made
our last offer and they rejected it, and so you know,
you don't you don't negotiate against yourself, right, So it's

(05:48):
really up to them to come back. So it's really
in their court. So if you own a house and
now I'm not going to this, but if you're listening
and you got an offer from three x y Z
street offer police, So yeah, if you're listening and you
got an offer for me, we're open to a counteroffer.

Speaker 2 (06:10):
That's awesome.

Speaker 1 (06:11):
Hey, I want to give some shout outs to some agents.
We had over the last week we put eight homes
under contract and which was much better than last week.
And let me tell you so, I want to give
special shout outs to Graham Reesburg, uh Lit's sen Jonathan Wheeler,
Carlo diliberto John Michael Brannon, Brionna Green, Walker Gant and

(06:36):
Fleur Robinson. I want to, uh, you know, give a
special shout out, thank you so much, congratulations on uh
getting getting those under contract this week. Let's get them
to the closing table, man go, We got to get
them to the closing table. But you know, I was
I was talking of I got some You know, real

(06:57):
estate is very you know, most of the agents kind
of know each other, right especially I mean I've been
in it, you know, about to be nineteen years, which
is crazy, by the way, yes it is. And I
send out a lot of messages right before Thanksgiving saying
Happy Thanksgiving or you know, hey, you do you have

(07:17):
anybody that I'm looking for, somebody that's looking and like
I've got somebody that's real hot and heavy wanting a
four bedroom home in the South Side, Right, So I
send out a bunch of a bunch of messages to agents, Hey,
you know, what do you got coming coming down the pipeline?
Do you have anybody that's willing to sell off market?
And in those conversations, like you know, it's it's kind

(07:38):
of amazing, like this real estate community ends up being
pretty close.

Speaker 2 (07:42):
Knit, yes, for sure.

Speaker 1 (07:44):
And you know, I can tell you because of that
close knit nature of our business that you know, we're
we're able to do to do deals with people that
you know, know our process, like our process, trust our process,
have done deals with this in the past, and they
just know it's going to be really an easy, you know,
easy dealing. And I can't say that with working with

(08:07):
all agents, right, it's really a team effort. And and
so I don't know, I just went on a little
bit of tangent right there, but it was more about
I guess you know, maybe I'm how about that I'm
thankful for the other agents in the market. How about
I'm going to bring it around, I'm thankful for the
other agents in the market and appreciate all of their

(08:28):
hard work.

Speaker 2 (08:29):
Well, you need to be able to have that that
communication and be able to be comfortable and kind of
kind of get through some of the the fluff of
things and sometimes just get to hey, here's where we're at,
and know and know what you're getting from both sides,
and and just being being able to be direct a
lot of times is a is a godsend. I mean

(08:49):
that you don't have to do all the little stuff
and all and all that comes from is time and
and people understanding you and you understanding them and their personality.
So I mean it is it is a big deal
and and it just helps. And again that's that's going
back to be in the market because I mean, how
many times do you kind of if you if you're
working with somebody, even whether it's in you know, within
your company or my company or just other other people's

(09:13):
and you know, if it's somebody you don't you don't
communicate with a ton or you know, you sometimes you're
the tone of the text or email or whatever. It
can be like I can get a little lost, who
are they snapping at now? They were just telling you direct?
And so you don't you know, sometimes sometimes it's just
easier when direct. Yeah, very direct.

Speaker 1 (09:31):
I'm not going to have this like long drawn out
text message.

Speaker 2 (09:34):
I'm going to have the long drawn out when I'm
very much like sensitive to the fact that like I
want to make sure everybody knows, like, Hey, how are
you hope you're having a great mourning? Everything's great, Hey,
you're supposed to this yesterday is not done yet. I
hope you have a good rest of your day, thanks
to everybody. All right, let me know, you know, so
I am bad about a lot of fluff in the
beginning and end and some actual just.

Speaker 1 (09:53):
I'm not that high on the disk profile. I'm the
high D high. I yeah, like, just give me, give
me the meat, just let me know, give me the information,
let me make a decision based on that.

Speaker 2 (10:05):
Boom go. It's so now, now this is a complete
spin off. But when you get in these these big
group me's, like with other parents and stuff for kids,
sports and everything, and so you know, you you got
some that want to be you know that you got
some people that want every little bit of information you
could possibly give them over the next month, and then
everybody else and you got your other ones that want, hey,

(10:26):
I just need what time practice, what time the game is,
what color will wear? That's it. But blowing me up.
And so you know, you get there's a balancing act
of knowing who your recipients are, of the of the
message as well.

Speaker 1 (10:36):
So I want to man, I'm on a lot of
group texts, you know, especially with you know, with kids
in multiple sports, and then you know different friend groups
and and I'm you know, I'm I'm I kind of.
I like to have fun, especially on like big group
text Like I mean, there was one this week, and
you know it's you never know what the subject is

(10:58):
going to be, but I am I'm trying to make
a joke, like ninety nine percent of the time, I'm
trying to throw a joke out there.

Speaker 2 (11:04):
Yes, and uh, I.

Speaker 1 (11:05):
Man, I got somebody that I got somebody this week
and they totally missed the joke and somebody and somebody
else had a meme and then it was like, uh,
somebody like just like standing there in like a snowball
being thrown at them and they've got like a mark
that says joke and it just like completely passes them by.

(11:30):
But they weren't. They didn't even it didn't even phase them.

Speaker 2 (11:32):
Yeah, that those are usually the best. And that's sometimes
when you go like, I hope these people get my
humor or get my tone in this because because you'll
you'll have it where you've got you know, again, say
there's twenty parents in there, you know half of them
will kind of know you and know your your kind
of wittiness or your dry humor. Kind of that the
one liners and then the other ones were like is
he being serious right now? Oh yeah, so but no,

(11:54):
I'm always going for the for the quick, the quick laugh.

Speaker 1 (11:57):
And the last thing I wanted to share, you know,
you know, talking about agents, I want to give a
big shout out to Brianna. First home under contract, let's go,
so she gets after it. Yeah yeah, I'm super excited.
So she's she's got that one under contract. I think
she's about to write another offer. We just had Alita

(12:20):
just close on her first house recently with the team.
She was with another company. And then we've also got
like Ashley on our team. Biggest month ever in November. Wow,
over a two million dollar month, which is huge. So
you know, I wish, I wish we had, you know,

(12:41):
a best month ever every month, but it's really special
when we were able to to do that and celebrate. So,
so congratulations to y'all. Kyle bad good congratulations on getting
accepted to be a part of the team.

Speaker 2 (12:58):
Let's go.

Speaker 1 (12:59):
So, uh, Kyle is one of our new agents. So
we've got a we've got a few things going on
at the office. Yeah, so well cool. Well, hey, we're
going to go to break Uh. When we come back,
I want to talk a little bit about what we're
seeing in the real estate market, what we're seeing in
the mortgage world right here on bolt and borrowed and sold.

(13:22):
Wellcome back to bobard and sold and uh, hanging out
in the studio Brad Smith with Cross Country Mortgage bradsmithlons
dot com.

Speaker 2 (13:29):
And that's me.

Speaker 1 (13:30):
I am Gustygoulisstegoulisgroup dot com. If you ever want to
go to our websites just kind of look around at
houses or maybe apply for a loan. You can do
that at your leisure.

Speaker 2 (13:41):
Yeah, you can play with mortgage calculators and you can
do with all kinds of different stuff, and you can
get hools and resources. You can get a pre approval value,
you get home value estimators and all everything.

Speaker 1 (13:53):
Well, Brad, give us a little bit update what you've
been seeing in the mortgage world, my friend.

Speaker 2 (13:58):
So right now, I mean I think a lot racheally
have stayed kind of flat on the upper side where
we were, you know, I say flat from where we've
been talking about, I guess for about the last three
or four weeks, which is higher closer to the seven range,
seeing more sevens than some sixes, not seeing many or
any fives, right now so, but but but hopefully, hopefully

(14:22):
that's that we're getting some numbers that are going to
start showing some support of that. They did release the
FED minutes from a couple of weeks ago. All nineteen
members did vote for the twenty five bip cut that time,
so so that was that was good that at least
all kind of in the same direction. So I think
there was some some thoughts that maybe a couple would
kind of hold out on that, waiting to see if

(14:44):
some of this trailing dad, inflation Dad, all this stuff
was going to kind of level out, which it ended
up looking better and where they thought they needed to
to kind of support another rate cut. And then you know,
the main thing we're keeping up with right now is
kind of is the jobs on the jobs markets and
everything in the That's what's going on, and basically I

(15:04):
think the support there is there's not a ton of
people being let go or job jobs disappearing, but there's
not many people quitting or there's not many job openings.
There's a lot of people are staying put. And then
companies also aren't paying, you know, above to recruit and
move you over or get people, so there's not a

(15:25):
lot of people are kind of in a holding pattern
on both sides, the employers and the employees, where I
don't want to I don't want to ruffle. I know
where I'm I'm I know what I'm doing, i know
where I'm at, and i know I've got some some
you know, some longevity here. And then on the other
side of that, there's not employers coming to poach and
offering you know, ten, fifteen, twenty percent bumps as well,

(15:46):
and there's just not a lot of new job creations,
so everything's been pretty flat. So it's not a I
think that I think the positives are there's not massive
deterioration in the employment market because the jobs are still there.
There's just not as many new creations going on and
not as much not as much changing positions or flip
flopping from company to company, and so that shows some

(16:09):
good signs of employment staying pretty pretty steady, but also
gives us some the support we need to get rates
down because it's not people aren't putting a bunch of
money back into the job creations or or bringing you know,
new people into their current environment. So that's that's kind
of what we're seeing and monitoring closely to kind of
see what it's going to do to mortgage rates long

(16:31):
term and even real short term and long term.

Speaker 1 (16:33):
So well, I mean, the stock market's still been on
a roll. Crypto has been on a roll crypto, so
a lot of that money that would be going towards
mortgage backed securities and buyds have gone inother places, in
other directions, and that's been part of the reason why
we've seen some of these rates go up when we
all kind of thought that it would be going down.

Speaker 2 (16:54):
Yep. And you know that a lot of that had
to do the election, and which is you know, a
positive because it breeds more confidence into the industry and markets,
in the in the stock and that companies are going
to be able to thrive under what is is the
perceived new you know plan going forward under a new
a new presidency. And so that money's you know, trying

(17:16):
to hurry up and get in those in back end
of the stock market to they can benefit on some
of the profits they hope to see down the road.
And so yet to your point we've talked about it
is you know, you're competing for those investment dollars, and
so do you want to be in something more long
term or something more short term. And uh, and then
and then where does your your advantages of of you
know where your games can come from and what your

(17:38):
actual returns can be. And so I think right now, yeah,
a lot of those dollars are going to the stock market.
So to entice those dollars to come back to the
bond market, the rates have got to be a little higher.
And so that's kind of kind of the the trickle there.
But it's it's it's a double edged sword because you
know what, once you book the loan and close a mortgage,

(17:59):
the value in that loan is no longer really in
your interest. The value is in holding and keeping the
servicing rights. There's value to be able to do the
servicing rights, and so that value is dictated by what
the average life of the loan is and what the
average payoff time is. Well, when rates are higher, that

(18:19):
payoff time is a lot shorter, so your value of
your servicing rights is not is not as great because
they know as soon as rates come down, you're going
to refinance it. So there's no you know, thinking that
the average loan right now is going to be five, six,
seven years before the refinance bolts sold or you know,
or moved it and done something different. So you know,
it becomes a weird kind of a balancing act right

(18:40):
now that we're on the fence of that. You've got
to have the rates higher to get the dollars in there,
but you also are not going to have a ton
in the servicing rights on the back end because you
know that your hoping rates are going to come down,
and then those those loans aren't going to be on
the books or service for long, so you're trying to
retain those people. And then so then you're giving benefits
and all kinds of stuff to keep them to stay
with you do come back down. So yeah, it's a

(19:01):
lot of moving parts and a lot of different things
at the end of the day. At the end of
the day, we want rates back down in somewhere in
the fives, right.

Speaker 1 (19:09):
Yes, you know, I think if we're I mean, we
saw it just just short two months ago when rates
were right around six point one percent. Six We saw
some high fives yep, on some specialty government project I
mean products, we saw some mid to low fives, and uh,

(19:34):
holy cow, what a difference. I mean, our markets started
moving and uh, it got people off the fence, it
got people back in the mix, and then with the
rates going up, it's kind of, you know, kind of
pushed the brakes a little bit. So, you know, I
was really I was really hoping that the interest rates
would have either stayed steady that right around that six

(19:57):
percent or came down a little bit more. I was
really not expecting it to go up like it did.

Speaker 2 (20:03):
Yeah, I think that I think how much it went up,
I think probably surprise a little bit by surprise. You know.
It is funny when you when you listen, you know,
you listen before deering and after and you go, you know, well,
shouldn't we have been talking about this before these things,
because really it makes sense, Like now, looking back, it

(20:25):
makes sense why rates are up, but nobody really thought
it was going to happen. But again that the common
sense part of it of what moves it. You're going, well, yeah,
this seems like rates would have gone back up if
this is how this was going to go. And it
does make sense because of all the technicals in the market,
and like that's that's the driving force of it. So
until there's some true policy change in which I imagine

(20:47):
will happen pretty quickly, or the thoughts of some policy
change that will help pull the rates down, or what
they've had to do in the past, coming back and saying, hey,
the government's going to go back and start spending sixty
billion dollars a quarter, however much on buying mortgage backed.

Speaker 1 (21:03):
Securities, and then it's coming down. Come on government, maybe
you know, maybe Trump can make it happen.

Speaker 2 (21:10):
Yeah, come on Trump if he thinks that's a wise
investment for the American dollars. And so I mean and
and so you know again, but that that's where that's
where a lot of that's going to come from.

Speaker 1 (21:21):
Who's going to should invest in America?

Speaker 2 (21:23):
I agree, America, America, America. Uh but yeah, but but
then you go but then, you know, then it goes
back to well do you want it? Do you want
do you want to invest back into America in mortgage
rates or do you want to invest it back into
more job creations and more jobs coming in? And so
again you're still fighting for the same dollars. And if

(21:44):
you create new money, that goes back to the inflation
problem that we see. So you know, you've got to
go work with what the constraints of the money that's
out there, and then you've got to figure out how
you're going to apply that and make it you know,
where's the again, it's it's it's a it's a bound
act and I you know, I make fun of it,
and a lot of times or or you know, we'll say, God,

(22:05):
these guys in Washington, know what the heck they're doing.
How they get there? But there are so many little
things and so many you know, you know, it's it's
I mean, it's it's high level economics. And if if
you take from something, it's coming from somewhere else, or
you know, you've got to put it somewhere else. And
so maybe if they bounce the money that's going to
Ukraine and the mortgage backed securities, the rates would go down.

(22:27):
That wouldn't make rates help go down. And I and i'magine, hey,
they put that much money buying in mortgage back securities,
I think we'd be I think when morgag rates would
get back in the forest. So uh so we'll, yeah,
we'll see, there's definitely there's definitely money that can be
redistributed to other places.

Speaker 1 (22:41):
Is why why would the government not want to be
investing in mortgage backed securities.

Speaker 2 (22:49):
It becomes where you're it's is it under government control
when they're putting that much money into it, and do
they start telling the free markets what what's going to happen?
And so then then because they technically don't own or
have any kind of true interest not interest rates, but

(23:11):
but interest in Fannie Mae, Freddie Mack and even technically
Ginmy May and so they don't want to take it
under government control essentially by buying and having the most
pool of them, but they also it helps, so uh,
it'll be interesting to see. But I mean, there's there's
reasons why they don't. There's a reason why they had
to the last time because nobody was going to be
buying them, and so anyways, it'll be.

Speaker 1 (23:33):
Interesting, Okay, interesting. Well, I can tell you I've been
showing houses and there's been other people at the houses
while I've shown them, so that's usually that's that's a
good sign.

Speaker 2 (23:42):
It is definitely all right.

Speaker 1 (23:44):
We're headed up, headed to break against the top of
the hour. Y'all stay tuned, Barbard and so will be
right back making that dream a reality. That's right.

Speaker 2 (23:58):
I like that.

Speaker 1 (23:59):
Uh, welcome back to the show, Bob Bart and sold
Brad Smith, Bradsmithlons dot Com, cross Country Mortgage, hanging out
with us in the studio today and this is our
little happy Thanksgiving hangover.

Speaker 2 (24:15):
For sure. You know one thing that I love food
comas I love this colder weather? Can I I mean
I love it.

Speaker 1 (24:24):
I do not like cold weather.

Speaker 2 (24:25):
So that's that's where I was going. That was my
next question.

Speaker 1 (24:28):
I need to live like on a beach or something,
or like I need to live on an island or
something because the cold weather, Now, Katie is completely different.
Katie loves too.

Speaker 2 (24:39):
I love the weather. Am out And if you're listening
and you're passing through Alabama and you're going like, this
isn't cold, yeah, we get it. But for this is
cold for us, and I love it. I do not
like I'll take loads in the thirties forties and highs
in the fifty sixties any day.

Speaker 1 (24:55):
Kind He was like, I want to move to Chicago
or I want to move to New York. I was like,
absolutely not weather. Absolutely, I'm out just on weather.

Speaker 2 (25:03):
Yeah. Yeah, well I've been maybe it's just school with
it's such a hot fall. For the most part, I've
just been ready to be able to bust out the
vest and some some different stuff that that stays in
the closet for way too long that I enjoy. So
uh again, I like being colder. I can always layer
up when I'm hot, and I can only take off
so much.

Speaker 1 (25:24):
So we've got you know, maybe you know, to warm up,
you can get by one of the fireplaces and one
of our new listings.

Speaker 2 (25:31):
Let's do it.

Speaker 1 (25:32):
You see, do you like that.

Speaker 2 (25:33):
I'm trying to No, I I brought up the weather.
I fegured we could tie it in.

Speaker 1 (25:39):
There we go, so uh yeah, I get you. And
actually this one that we talked about has got a
phenomenal fireplace, and we'll talk about it here in a minute.
But we're gonna be We're gonna talk about our new listings.
And it looks like John Mounts, me and you going
up against each other and all right, let's bring it. Oh, oh,

(26:01):
he's ready.

Speaker 4 (26:02):
You know, I almost I almost. I almost didn't lose
last week.

Speaker 1 (26:06):
He almost didn't lose.

Speaker 2 (26:07):
Yeah, yeah, it was, it was. It was. It was
a tight even the losses were really close, I must say.

Speaker 4 (26:13):
I mean, my guesses weren't like you know, insane.

Speaker 2 (26:15):
No, they weren't.

Speaker 1 (26:16):
So let's see if you got Let's see if you're
making that magic. The rates are back up for John
likes some more time. Yeah all right, Brad, if you would,
we might have some new listeners checking us out this week.
Tell tell everybody of the rules.

Speaker 2 (26:31):
Game of the game.

Speaker 4 (26:34):
The rules.

Speaker 2 (26:35):
All right, So Gussy's gonna go over to their new
listings and with the rules, you listen to the rules, uh,
and give you the purchase price or what the sales
price is of that property that they have. I mean,
if these aren't made up properties, they're made up scenarios
afterwards that I'm giving you. But the properties are real
and they need offers on them. But they've got new listings.

(26:56):
He's gonna give the purchase price. I will give a
suggestion of what a central down payment may be, and
then John and Gusty will then guess the closest monthly
thirty or fixed monthly principal on enter's payment. No s crows,
no pm I, any of that. We're just worried about
the thirty year fixed monthly payment. Gusty, what you got?

Speaker 1 (27:15):
Yeah, So all right, we've got a new listing in
Gardendale sitting on one and a half acres. It is
three bedrooms, one bath, one thousand and forty three square feet.
It's located at one twenty eight Honeysuckle Lane. And we're
asking one nineteen nine, one nineteen nine. When's the last

(27:37):
time you heard of a house in Gardendale priced at
one nineteen.

Speaker 2 (27:41):
Nine on one and a half acres.

Speaker 1 (27:42):
On one and a half acres. I mean, this is
the most affordable house in Gardendale right now.

Speaker 2 (27:49):
Make an offer now because it may not be able
to in the next couple of days, and tell them
to get in there, all right.

Speaker 1 (27:54):
So this listening is courtesy of Graham Reesburg on our team.
So Graham, congratulations on your new listing. And we appreciate
We appreciate this client, and this is one of our
our team leads. They called and saw our reviews and
was like, hey, we want to sell some houses.

Speaker 2 (28:14):
Plus doesn't it just sound good to say you live
on Honeysuckle?

Speaker 1 (28:17):
Yeah?

Speaker 2 (28:18):
Yeah, I love it all right. Five percent down, five
percent down on one nineteen nine is the purchase price
potential buyer? Five percent down, thirty year fixed payment monthly.
What would that be, Gusty? You up? Five percent down,
five percent down one nineteen nine is the purchase price. Okay,

(28:43):
I'm gonna go with seven hundred dollars seven hundred. We're
going to even numbers from Gusty today. He had to
try to not necessarily well for the for guests number.

Speaker 4 (28:53):
Yes, that's pretty even.

Speaker 3 (28:55):
Okay, feel like it should be higher than that, but
I don't want to bet against the champ, so I'm
not going to wait higher that.

Speaker 4 (29:03):
Let's go.

Speaker 2 (29:05):
I like that.

Speaker 4 (29:06):
Let's go seven seventy seven, seven seventy seven.

Speaker 2 (29:11):
Why not seven seventy seven? Is that that's a that's
a good thing in like Vegas are pulling on slots right.

Speaker 4 (29:19):
Okay, you're gonna say, but it's not.

Speaker 2 (29:21):
Well, you're one seven short at seven fifty seven. Oh,
John gets around one. It's it's a brewin. It's a bruin.
The upsets a brewin. The upset brew mounds me with
the iron bowl.

Speaker 1 (29:38):
Shut your mouth, all right, hey. Next new listing is
in the Altadena area. Four bedrooms, two and a half baths,
twenty eight hundred and eighty four square feet. Has been
recently renovated with new roof, new paint, new flooring, new kitchen,
new bathrooms. This thing is looking good. It's in the county.

(30:00):
But if you spend a little time and a little
bit of money, you could get this thing annexed into Vestavia.
It's not guaranteed, but all signs show that it can
be annexed. End to Vestaviia twenty seven sixty nine, All
to Dina Lake Drive, twenty seven sixty nine, All toa
Dina Lake Drive. We're asking five fifty five, and it's

(30:23):
actually priced forty five thousand dollars a lesson of praise
value and a praise for six hundred thousand.

Speaker 2 (30:29):
Oh in that I mean, if you've never been out
to those out in the Lakes area, it's it's it's
it's a it's a really pretty area. I like it
out there. I've got some friends that have that live
over there, and it's always pleasure to go out that
way and check it all out. It's it's it's a
it's a pretty area. Five point fifty five, Yeah, five
hundred and fifty five thousand dollars purchase price. This is

(30:49):
John gets to go first. So this is the easier math.
Ten percent down, ten percent.

Speaker 3 (30:54):
Down, easier math, but bigger numbers, bigger numbers. So fifty
five at ten percent. That means fifty pounds down. So
really you're you're you've got it right at half a million.

Speaker 2 (31:04):
Dollars right at there.

Speaker 4 (31:06):
Yeah, so what would a payment be like on that? Okay?

Speaker 3 (31:09):
So the last one was just a little north of
one hundred thousand, and that was seventy seven. So, oh,
I'm gonna go I don't know, how about fifty five hundred?
He went, He went cross eyed. There, I think that
was a ridiculous number.

Speaker 2 (31:26):
Okay, right, I think you carried too many, too many, Okay,
for I think you meant thirty five hundred.

Speaker 3 (31:34):
Okay, I'm gonna go with I'm gonna go with that.
That's what I meant. I meant thirty five hundred.

Speaker 2 (31:40):
Still, basically, he's playing the game now, no no, no, no,
I'm just bigger numbers. I'm here against the one over
here against no, no, no, all. What he was trying
to do was he said a little over one hundred. Yeah,
he just called him seven hundred friend of the seven
hundred times mediator. What he was trying to get to
seven hundred times five would be thirty five hundred. So

(32:01):
heaven guys doing and so he can go higher or
lower from there. I think he was probably gonna get
closer to thirty seven hundred feet. Have done worked all
the math out?

Speaker 1 (32:09):
Thirty thirty three thirty three.

Speaker 2 (32:11):
Thirty three nineteen was the payment Gusty gets.

Speaker 4 (32:14):
Gusty gets it.

Speaker 2 (32:16):
Again. I wouldn't I wouldn't get in it like to
and within even one hundred I just knew that. Oh
my god, I couldn't let fifty five hundred ride.

Speaker 1 (32:24):
Yeah, I mean no I did. We didn't want fifty
five hundred.

Speaker 3 (32:27):
Oh, Like I said, these these prices were a little
out of my price range.

Speaker 4 (32:31):
I'm not used to looking at houses in this range.
So you know what thirty three nineteen my heart?

Speaker 1 (32:37):
Okay, yeah, all right, hey, our next We've got a
coming soon home in uh saddle Brook Farms in the
Kimberly area. Have you ever been up in settle subtle
Brook Farms by chance?

Speaker 2 (32:51):
I don't know if I've been the ceber form. I
know that area from that area.

Speaker 1 (32:55):
It is a very pretty neighborhood. Yeah, beautiful neighborhood. This
one is coming soon at ten thirty two Derby Parkway.
This was built in twenty fourteen. It's four bedrooms, four
and a half baths, there's an extra room in the
basement that could be a bedroom or an office. There's
room for storage, there's room that it could be an

(33:18):
exercise area or more finished space. But as I mentioned
earlier about a fireplace off the kitchen, there's this keeping
area and it's got this cathedral ceiling stained wood, stained
reclaimed wood. It's not actually it's not stains, I'm sorry,

(33:39):
reclaimed wood on the ceiling. It's got this beautiful stacked
stone fireplace that's like twenty foot tall. Goodness, maybe it's
eighteen feet, but either way, who cares. I'm telling it
like it is awesome. One of the coolest fireplaces that
I've seen. This was completely set up a custom house. Yeah,

(34:00):
so we're looking at almost twenty seven hundred square feet
on the main two levels. We've got another two hundred
square feet in the basement. We're asking five ninety nine
to nine and it's on a point three nine of
an acre. It's got a it's got a covered porch
or covered deck, it's got a fenced yard, it's got
a two cargar roge.

Speaker 2 (34:20):
What schools would that be?

Speaker 4 (34:22):
Mortimer Jordan Jordan's High School.

Speaker 2 (34:24):
Yeah, that's what I was thinking, yeah, okay, I knew
you kind of get kind of close to the fence there.
I thought, mortle Jordan, maybe the right area, all right,
five ninety nine nine, you say, yeah, five ninety nine, Well,
let's go all right, five percent down, five percent down.
Going back to Gusty to set the bar for around three,

(34:47):
John goes first, all of a sudden, We're.

Speaker 3 (34:49):
All, yeah, yeah, I don't recommend that, all right, So.

Speaker 1 (35:00):
I'm gonna go with.

Speaker 2 (35:05):
M We don't want to.

Speaker 1 (35:06):
Go with today three thousand, eight hundred and thirty nine dollars.

Speaker 4 (35:25):
It's a very specific, very specific price.

Speaker 3 (35:29):
So based on the fact that the last one, which
wasn't too different than this one, was five fifty five,
but that was ten percent. This is five percent, and
it's a little more five ninety nine, I'm.

Speaker 4 (35:42):
Gonna go thirty ninety ninety nine.

Speaker 2 (35:49):
The actual payment was three thousand, seven hundred and eighty
seven dollars. Gusty gets another one down to start off December.

Speaker 4 (35:59):
But what was that? What was that number? Again?

Speaker 2 (36:01):
The actual payment was three thousand, seven hundred and eighty seven.

Speaker 4 (36:06):
I keep records so I can kind of base.

Speaker 2 (36:08):
You know, there you go. There, that was another good
besides round two that got a little wonky. Other than that,
that's pretty good.

Speaker 4 (36:15):
Yeah, I do grand as long it's gusty.

Speaker 2 (36:16):
Guys. First, I know where your math was going with it,
so that's why that's yeah, yep, yep.

Speaker 1 (36:20):
Hey, we've got some VP buyer needs and I want
to share with some folks. We've got some I've got
a client that is looking in the Oak Mountain area
up to four hundred thousand. I've got somebody that's looking
in the Hoover area up to three hundred and fifty thousand.
I've got somebody looking in Mountain Brook or Vestavia up

(36:43):
to seven hundred and fifty thousand. I've got somebody looking
in south Side four bedrooms up to five hundred thousand.
And those are my hottest clients that are ready to
rock and roll as soon as they see one of
those amazing homes that you might have that you're listening

(37:06):
and you're like, you know what, I think it might
be time to sell in twenty twenty five, So give
us a call two of five five four to two,
nineteen ninety six. You can also text on that number.
And you know some some folks don't want to put
their house on the market, so you know, we might
be able to match somebody off market in those scenarios,

(37:29):
and then you know, we've got I've got a couple
of flips going on, or actually now I've only got
one flip going on. But if you've got a home
that you've inherited or a rental house that you just
you know, don't want to be a property manager anymore,
give me a call because I'm looking personally to either

(37:50):
add some rentals or you know, flip a couple of houses.
So happy to chat with you and see if we
can come up with a good solution for your home.
So that's what we got going on. Hey, guess what
time it is. That's right, it's testimonial time, all right,

(38:13):
Human says, uh, this is about Carla. She helped me
a lot during the process of buying, very dedicated and knowledgeable.
We are very happy with our house. Everything went smoothly.
She helped me in the closing process as well. So Human,
congratulations on your new home, and Carla, congratulations on another

(38:35):
five star review. Man, that's a good that's a that's
a good sound with three of us making that happen
to harmonize. Hey, I like it. Hey, we've got another one.
This one is for Alita. Working with Alita has been
a fantastic experience. She is incredibly knowledgeable, a tentative, and

(38:56):
dedicated to finding the perfect property. Alita's professional is and
commitment made the entire process smooth and stress free, and
I continue to work with her today for my real
estate needs. I highly recommend Alita to anyone looking to
buy or sell with confidence and e So congratulations to
Alita on another five star review. Correct the man, I'm

(39:25):
telling you, I dig it, I dig it. I hope
you enjoy it. Y'all listening, whether you're at home or
on the road.

Speaker 4 (39:33):
You want, I mean, I can put some reverb on that.

Speaker 1 (39:35):
Yeah, what would what would that sound like?

Speaker 4 (39:39):
It sound like that, but with reverb?

Speaker 2 (39:40):
Oh yeah, hey you know what reverb? It might as well.

Speaker 4 (39:46):
Maybe next week maybe.

Speaker 1 (39:48):
Okay, all right, so we'll make me play that by her.
All Right, we're gonna we're gonna take a quick little break,
and y'all stay tuned. We're going to wrap up on this,
wrap up the show with one last segment right here
on Bard and Sold. Welcome back to Bob barn and Sold.

(40:09):
We've got brat Smith, Cross Country Mortgage hanging out and
John Mounts as well from my Heart and we wanted
to talk about as we wrap up the show. Probably
the biggest real estate news in Birmingham in the last

(40:30):
week has been about the failed contract to from Miles
College to buy Birmingham Southern Colleges, you know, facilities and
land and all that kind of stuff. And you know,
it looked like that they had an extension that was

(40:52):
done at the end of October for another month, and
it looked like that they were asking for another extension
towards the end of December, and I was really surprised
to hear that it was just completely like thrown off
and not willing to be you know, extended because Birmingham Southern,

(41:14):
or at least the trustees wanted to have a quick sell. Well,
you know, it's kind of hard to do a quick
sell on a sixty five plus million dollar project that
you know you've you're going to have to find a
specific buyer for.

Speaker 2 (41:31):
So yeah, it is a very specialty, specialty property, it
really is. I mean, because you know Birmingham Southern that
they over the past decade or two, you know that
they did do some up some new buildings and they
were still growing. And part of the reason they got
some I guess some financial problems was they keep they
kept trying to, you know, improve the infrastructure without a

(41:53):
ton of new growth going on. So, I mean, but
there's not only so you're getting all the land, you're
getting all the buildings, but all those buildings are pretty specific.
There's dormitories on there, there's fraternity houses on there, there's
you know, there's student activity centers. I mean it, I
mean it's a full college campus and and it's and
it's pretty much completely fenced in, so I mean it's
it's not even open where it's not even something that's

(42:13):
easy to divvy up. And you've got all those properties.
A lot of those parties need some work, and then
you start looking at, well, who who's going to need
this without needing to bulldoze stuff or just make it
something completely different, so you know it's gonna be it
by finding a buyer to your to your point you need.
It is a very unique and so another college like
Miles seems like a seems like a natural fit if

(42:37):
they need that space or looking to relocate or needing
to expand and so that that that's that's one potential
and that fell through. And now now now who's next
in line on that list? And so you start looking
and going like, well, could you could you make it
more multipurpose or whatnot?

Speaker 1 (42:51):
And so, well, here's what I don't understand. Why could
they just not do like a break class on that contract.
Let Miles work on whatever they need to work on.
Let them maybe put a little bit more earnest money down,
say like another half a mill mill to give thirty days. Like,
it's not like another institution is going to come in

(43:14):
and buy the whole place by the end of the year.

Speaker 2 (43:17):
So correct me any part I'm wrong? So John or
Gusty that this is me kind of reading between the
lines and just different different people that I feel like,
do keep up with it, know kind of where my
feelings are. I feel like Miles didn't have the capital
to take it down themselves and was going to need
state assistants to make the purchase in Birmingham Southern was

(43:39):
rejected funds from state to keep it going. So I
think you start going into Miles thought that they would
be able to get the fundscha to help from the
state or federal or whoever that's coming from, probably state
to help purchase it. And the state said, well, if
we weren't going to bail Birmingham Southern out with thirty
million or whatever that number is, we're not. We're not

(44:00):
going to also then turn around and give you the
thirty million or whatever that number is to secure the
property and buy it out from under them. And I
think there may have been some I think there may
have been some people that made the decision to not
give Birmingham Southern those funds on the state level that
do have ties to Miles, so they may have had
to recruit themselves or didn't, and we're too involved in

(44:22):
the process. Again, I couldn't tell you any of those names.
I don't know anything the fact. I don't know if
that's in print or anything else. But I think that's
how you get to this point of why it's that
they're not going to get those funds, and so there's
nowhere else they're going to get those funds, so there's
no reason to break the claws. They know that they're
one way to get it done has been told no,
and so they're having to just move on completely. That's

(44:45):
what my opinion of that would be Yeah.

Speaker 1 (44:48):
I feel like if you knew that you were going
to make an offer on that complex, you would have
at least done some research on you know, a little
bit of your fine acial stuff.

Speaker 2 (45:00):
Yeah, you're gonna have ability of it.

Speaker 1 (45:02):
Yeah, you're gonna have some diligence periods. But I mean
you should be going into that like, hey, we're gonna
make this happen. It's just so public and such a big,
you know, thing that can impact the city of Birmingham that.

Speaker 2 (45:19):
You know.

Speaker 1 (45:20):
When that that news broke this past week, I was,
I was really surprised. So it will be interesting. I
know that there was talk about Alabama A and M.
You know, I think they they made one or two
offers on it, and that was a you know, felled bid.

Speaker 4 (45:34):
I'm surprised you A B didn't. I mean, u AB
acquires a lot of things around.

Speaker 1 (45:38):
Here, yeah, you know, and who knows that that could
be an option for them. I mean, that would be interesting.

Speaker 2 (45:47):
There was rumored that i MG Academy Flora had had
taken some interest in it and looked at it as
a potential thing to have to either move their full
location up here or to have kind of a satellite
or a second yeah campus.

Speaker 1 (46:00):
Which is really interesting, actually very and I amg academy
is there's past Alabama football players that have gone through
that academy. A lot of all.

Speaker 2 (46:12):
Schools have have have had players go through IMG just
just a.

Speaker 1 (46:16):
Prep school, one of the one of the top prep
schools really in the country for sure. And and so
I do remember that they inquired about it. And I
know that there were some rumors about Church of the Highlands,
uh with that, But I don't know if that's you know,
I think that you know, it could be a rumor,
but I mean it wouldn't you know, that wouldn't surprise me.

Speaker 2 (46:38):
They had been scared to buy and take down some large,
large properties.

Speaker 1 (46:41):
I really don't know, like who else would would really,
you know, and unless you've got somebody that's coming in
from out of town that really wants maybe a southern
satellite or to grow you know, what did you see
where Kat Williams bought Fort McLellan or.

Speaker 2 (46:59):
Is for mcleo.

Speaker 1 (47:00):
Yeah?

Speaker 2 (47:00):
I did. Actually, you know, so you don't I mean,
that's a lot older and sat there for a lot longer.
But I just mean, like you just never know when
something the price is right when what somebody may come
in and do and decide to do with it.

Speaker 1 (47:13):
That's a great point. We might want to we might
want to actually on this. Yeah, it kind of kind
of kick that to another time because that could be
super interesting. It's not necessarily geared for Birmingham, but what
impact could that happen for Birmingham?

Speaker 2 (47:28):
Look to what Taller Perry's done with his stuff.

Speaker 1 (47:30):
Yeah, so that could be good a good topic. So anyways,
we hope you had a great Thanksgiving. Thank you so
much again for listening each and every Sunday morning. If
we can ever do anything for you, you can go to
Bradsmith a loon's dot com or gustygoulisgroup dot com. And
on that note, we'll catch you next week. See you bye,