October 9, 2025 • 23 mins
Guest Pete Heim is back to chat with Brad Weisman about Real Estate!! A fast, candid market check that connects inventory, rates, and jobs to what buyers and sellers feel on the ground. We share state-by-state contrasts, a reality check on pricing, and why the Fed doesn’t move mortgages the way most people think.
• Housing’s huge role in the wider economy
• Home inventory as the primary driver of sales and price behavior
• State-by-state inventory and time-on-market contrasts will surprise you
• Mortgage rates vs Fed moves and bond market expectations
• Labor market vs Inflation as Fed Rate triggers
• U.S. housing value reaching $55.1 trillion
• Why overpricing backfires and how to adjust fast
• guidance on family and client loyalty with grace
Sellers in this market need to really lean into their Realtors for advice on pricing. The market is balancing and the Super Sellers market is behind us. Buyers are gaining advantages in certain situations... so sidelined Buyers should look at coming back into the market!
#bradweisman #peteheim #realestatemarket #sellersmarket #buyersmarket #balancedmarket
Hi This is Brad Weisman - Click Here to Send Me a Text Message
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Welcome to The Brad Weisman Show, where we dive into the world of real estate, real life, and everything in between with your host, Brad Weisman! 🎙️ Join us for candid conversations, laughter, and a fresh take on the real world. Get ready to explore the ups and downs of life with a side of humor. From property to personality, we've got it all covered. Tune in, laugh along, and let's get real! 🏡🌟 #TheBradWeismanShow #RealEstateRealLife
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
SPEAKER_03 (00:00):
Oh Jesus might from real estate the market as a
whole which then sometimes willaffect the technique right in
real life.
We all learn and do if you thinkabout it Wayne Dyer might not
attract everybody and everythingin between.
(00:24):
The Brad Wiseman Show.
And now your host, Brad Wiseman.
All right, we're back.
Thanks for joining us everyThursday at 7 p.m.
Don't forget that it's everyThursday at 7 p.m.
We bring you all kinds of greatguests, except for today, of
course.
Um, but we bring you all kindsof great guests, and we are
(00:45):
searching wide now for guests,right, Hugo?
I mean, they're coming from allover the place.
We have some guests coming upfrom an AE show coming up in the
future.
Uh, we got uh oh just alldifferent kinds of stuff.
So it's it's very exciting.
We're we're really excited aboutit.
Plus, we are going to bestarting another show, like an
offshoot of this show, that'sgonna be called the Brad Wiseman
(01:07):
Show, Live and Local.
And uh it's gonna be great.
So um we're gonna be startingthat uh probably in the next
month or so.
So just keep an eye out forthat.
Actually, I think it's local andlive.
I don't think it's live andlocal.
I think I reversed that.
SPEAKER_01 (01:18):
No, you were right.
It's live and local.
It's live and local.
SPEAKER_03 (01:21):
Okay, there we go.
I was right.
See, see, he said I was right.
All right, no, but we have thewonderful, the most amazing Pete
Heim here.
Yeah, that's what I should havedone.
There we go.
There we go.
Yeah, yeah.
Yes, I'm the guest that'sprobably the only time you've
ever been clapped before.
SPEAKER_02 (01:36):
I'm the guy that shows up when he doesn't have
another guest.
SPEAKER_03 (01:39):
That's exactly right.
And it happens to be everymonth.
It happens to be every month.
But no, real estate is ischanging.
It is, it is, and it's good.
It's good.
And it's funny, uh, my theme fortoday was bad news sometimes in
real estate.
Bad news in in the world issometimes good news for real
estate.
Yeah, it gives us something totalk about.
It gives us something to talkabout, but it also it it
(02:01):
actually makes our numbers alittle better sometimes.
SPEAKER_02 (02:05):
It does.
SPEAKER_03 (02:05):
You know, and you know, um Gary Keller said about
a year ago, typically the realestate market is in a recession
way before the rest of the worldor the rest of the economy
becomes into a recession.
Yeah.
He said, we're usually comingout of it when they're kind of
going in it.
Right.
Yeah.
And then we kind of lead themout of it because of how much
(02:28):
housing has to do with theeconomy.
Yeah, we lead them out.
So that either that could meanalso that maybe we start the
recession because housing wasn'tdoing as well.
I mean, housing's doing well asfar as prices you get for your
house, but the amount of saleswe've had has not been as good
as far as a country.
Yep.
So therefore, we have lessfurniture sales, we have less
(02:50):
appliance sales, all the thingsthat happen.
Because in a house, you know, wewe drive the economy.
The housing market drives theeconomy.
SPEAKER_02 (02:58):
Yeah, if someone could just think about well, you
guys can go ahead.
Go ahead and think about it.
All the different industriesthat touch us.
I mean, gosh, the landscaping,cleaning services, and you know,
well, every single productthat's made in your house,
carpet, carpet and tile,appliances, yeah, everything.
SPEAKER_03 (03:12):
There's so many things that go into a house.
Yeah.
So it's it just shows you thatwe have you know it's a big part
of the economy.
So with that being said, thenwe'll get into some of your
numbers there.
Yeah.
The recovery is expected tobegin go to expected to begin
going into next year.
So this year there's projectingfour million homes.
Wait, what recovery?
Recovery for what now?
Uh this is the recovery ofinventory.
Oh, okay.
Inventory and sales.
(03:34):
Actually, existing home sales.
So they're saying for 2025,we're gonna end up around four
million.
Four million.
Yeah, yeah.
Which they're saying in 2026,4.5 million.
That's a lot.
Yeah.
That's a that's 500,000 more.
SPEAKER_02 (03:49):
Yeah, because of the reason?
SPEAKER_03 (03:51):
It just I I I it doesn't say it doesn't.
This is all it says.
Do you see the reason on here,any Pete?
Do you see a reason on here?
No.
Okay, all right.
So here we go.
We're gonna just take that andchuck that there.
So who here wants to know thereason?
I want to know the reason.
I want to know the reason too,but that's what you're here for.
You're here for something.
I've got the reason.
All right, go ahead.
(04:11):
Tell us the reason.
I'm looking forward to it.
SPEAKER_02 (04:13):
This the whole thing's inventory-driven.
I mean, the whole thing is,folks, if you see the market as
you know, you hear the doom andgloom stories of oh, there's not
many sales on the well, yeah,because there's not many homes
on the market.
That's basically it.
Absolutely.
That's the bottom line.
Bottom line.
Yep.
And that's probably a good agood predic a projection because
we were at, I think, 540 todayin Berks County, or it was uh
last night.
537.
(04:34):
Okay.
Brad sold three today.
SPEAKER_03 (04:36):
Um, but uh No, that's for the year I sold.
Oh, yeah.
Yeah, that was for the year.
The kids need shoes.
SPEAKER_02 (04:45):
Yeah, I saw the duct tape.
It was pretty bad.
Anyway, but no, um, yeah, it'sall inventory driven right now.
That's yeah, it's it's thatsimple.
But it's coming up.
It is, and that's why the salesare gonna be coming up.
And that with a projection thatfour and a half in 2026 is
probably accurate.
Yeah, are they saying it's gonnabe four million this year?
Is that what it says?
SPEAKER_03 (05:02):
Four million, they're saying we're that that's
projected that we're gonna endup at four million this year.
Well it's on that pace.
SPEAKER_02 (05:07):
I think it's at three something right now.
So okay.
SPEAKER_03 (05:09):
Yeah.
So what else do you what do yougot there?
SPEAKER_02 (05:11):
Oh, I got all kinds of cool things.
Um well, let's talk about let'snot talk about the downsizing
thing yet, but the I saw thisgraphic from KCM buyers and
sellers facing very differentconditions today.
I mean, with this with this lowinventory and now the rates
coming down and stuff like that.
There was uh there's one, two,three, four.
(05:32):
There's five points I want to uhstats that I want to convey.
SPEAKER_03 (05:36):
Yeah.
SPEAKER_02 (05:37):
And the first one's inventory.
SPEAKER_03 (05:39):
Okay.
SPEAKER_02 (05:39):
Uh from August of 2019 to August of 2025.
In Pennsylvania, we had anegative 41.6% drop in
inventory.
Wow.
Okay.
And then I took other states.
Florida's ready?
Yeah.
Plus 25%.
SPEAKER_03 (05:57):
Wow.
SPEAKER_02 (05:58):
Okay.
Tennessee, shocked.
The highest.
32.9% in inventory increase.
SPEAKER_03 (06:04):
Wow.
SPEAKER_02 (06:05):
And this is last year.
So when is this?
Okay.
Illinois is the number one drop.
Would have never seen this onecoming.
Negative 62.9%.
You think they're fleeing fromChicago?
Maybe.
Possibly.
I mean, that's probably thelargest metropolitan, right?
Yeah.
SPEAKER_03 (06:22):
In in in Illinois.
Right.
SPEAKER_02 (06:23):
Well, New York's the people are fleeing.
Philly, they're fleeing.
Yeah.
Texas was 31.8% increase.
Wow.
Right.
Which I was surprised about.
SPEAKER_03 (06:34):
And what were we again?
SPEAKER_02 (06:35):
Negative 41.6.
SPEAKER_03 (06:37):
That's crazy.
SPEAKER_02 (06:38):
Now we weren't the bottom.
Tennessee.
Uh Illinois was the bottom.
Yeah, right, right.
Okay.
So now keep it keep that inmind.
We were net we're negativeinventory.
Florida's up.
Tennessee's up, which is therecord.
Yeah.
Illinois way down.
Texas is up.
Okay?
Price trends from the quarter,quarter two of 2024 to quarter
two of 2025, we're up 4.79%appreciation.
(06:59):
Okay.
And that in that year.
Okay.
Q2 to Q2.
Okay.
Florida is down 1.39%.
Okay.
Again, they were up ininventory.
Right?
You follow me?
So that's what happened.
Yeah.
Tennessee, negative 3%.
No, I'm sorry.
3% increase with a 32% increasein inventory, which is
(07:20):
interesting.
Yeah.
I know a lot, I don't know aboutyou.
I know a lot of people havemoved to Tennessee recently.
SPEAKER_03 (07:24):
Well, it's it's the weather.
And they have they have greatweather.
SPEAKER_02 (07:27):
They have great weather and they have lower
prices.
SPEAKER_03 (07:30):
Yep.
Lower prices, great weather, andno rules.
And they have Nashville.
SPEAKER_02 (07:34):
Yeah, and they have no rules.
SPEAKER_03 (07:35):
I mean, why wouldn't you want to live near Nashville?
They have no rules.
SPEAKER_02 (07:37):
I was talking to an attorney who moved there, had
got the guy, the delivery, theFedEx guy has to call him when
he's at the bottom of his laneto give him permission to come
up the lane.
SPEAKER_03 (07:47):
Wow.
SPEAKER_02 (07:47):
Because there's like no property right kind of stuff
going on.
Yeah, yeah, yeah.
It's like still like the WildWest kind of thing.
It's really strange, right?
SPEAKER_03 (07:54):
Yep.
SPEAKER_02 (07:54):
Illinois down is no a 6.73% increase.
Increase.
Because they had a negative 62%.
SPEAKER_03 (08:01):
Yep, so that brings the price up.
SPEAKER_02 (08:03):
And Texas is up just almost slightly, half a percent.
SPEAKER_03 (08:06):
Amazing.
SPEAKER_02 (08:06):
And time on time on market.
We're 49 days.
Here.
Yeah.
Well that went up.
In August of 25.
Now this is Pennsylvania.
Okay.
Brooks County is 21.
Okay.
Okay.
Uh Florida's 87.
SPEAKER_03 (08:19):
Days on the market.
SPEAKER_02 (08:20):
Yep.
Tennessee is 65.
That's crazy.
Illinois is 38.
Wow.
And this is now state, guys.
These are by state.
This is not micro local stats.
This is state stats now.
Okay.
And Texas is 64.
SPEAKER_03 (08:36):
Wow.
Interesting.
SPEAKER_02 (08:38):
So we're what are we at in Pennsylvania?
49 days.
SPEAKER_03 (08:40):
So what are we here in Berks County?
21.
Wow.
That's good.
You know what's funny?
Berks County is definitely likeresilient.
You know what it is?
We just don't have inventory.
SPEAKER_02 (08:48):
No, we'll not build Philly.
Yeah, right.
We're not built.
Pittsburgh's 60-70.
Harrisburg's around 40.
SPEAKER_03 (08:56):
And what are they doing that we we don't do?
Build.
They have buildings.
They build.
They build.
Yeah.
Boom.
Berks County's the non-buildingcounty.
SPEAKER_02 (09:05):
Yeah, unfortunately it is.
So equity growth, past fiveyears, as of Q2, 2025.
You guys hope you're sittingdown, man.
SPEAKER_03 (09:12):
We are.
I don't know about you.
And Hugo's sitting down, too.
SPEAKER_02 (09:16):
I'm talking to your listeners.
Oh, okay.
SPEAKER_03 (09:18):
Listeners, yes, yes.
Okay.
SPEAKER_02 (09:19):
This is Q2 of five years ago of 2020 to Q2 of 2025.
Okay.
Pennsylvania was 53.2.
We were 56 since 2019.
That's percentage increase.
This is percentage valueincrease.
Equity growth.
This is equity growth.
50 some percent.
Florida's 63.8, which I'mshocked.
Because I think they went wham.
(09:40):
Well, that's what Florida was.
SPEAKER_03 (09:41):
Wham.
They don't actually make thatsound when they do it.
Well, it's kind of like that.
The wham.
No, but they they I always saythat.
Florida is one of those statesthat goes like this.
The roller coaster.
And goes like this.
And then it goes like yeah,that's the difference between
us.
We we ride this little wave inbetween.
Yeah, we're going to go.
That's what it sounds like.
That's like wham.
(10:01):
Yeah, it's not a wham.
Yeah, it's kind of like aheartbeat.
SPEAKER_00 (10:04):
It's yeah.
SPEAKER_03 (10:05):
A little different.
He's been away too long, Ithink, is what it is.
He's got a lot, he's been onvacation.
It's been too long forever.
My goodness.
I can't believe he actuallystopped in today.
You must be in between vacationsor something.
SPEAKER_02 (10:18):
Look, there's Pete.
Let's go talk.
Tennessee, 65% increase in thattime frame.
Illinois 54% increase.
Texas, 46% increase.
And the national just under 54%.
SPEAKER_03 (10:31):
That's the national.
SPEAKER_02 (10:32):
Just under 54%.
That's where we're at, 53.2.
SPEAKER_03 (10:35):
It'll be interesting to see where where that goes.
As inventory goes up.
It'll be interesting to seewhere that goes.
SPEAKER_02 (10:42):
Yep.
But but the people staying intheir homes again is still at
10.
Yeah.
It's still 10 years.
Remember, we used to be 10years.
SPEAKER_03 (10:48):
10 years used to be seven.
SPEAKER_02 (10:49):
But it's 10 still.
SPEAKER_03 (10:50):
I think Berks County was always closer to 10, though.
I always thought so.
When I used to say seven, butaround here, people stay a lot,
they stay longer, I think.
They do.
Yeah.
Yeah.
We're just different.
We are.
We're just weird.
We're nice.
We're just weird.
We're so nice.
We're so nice.
SPEAKER_00 (11:04):
We're so nice.
It's weird.
SPEAKER_03 (11:05):
It's kind of weird how nice we are.
It is.
It's very weird how nice we are.
So let's talk about it.
The price growth, as you said,is the slowest since the summer
of 2023.
But it's still, you know,averaging here like three uh two
and a half to three percentthrough the whole country.
SPEAKER_02 (11:21):
Oh, you now okay, national, yeah.
Yeah, year over year.
That that's Brad, by the way.
About three or four months ago,we did that stat and it was 1.3.
It was one point something.
So now you say it's two pointthree.
SPEAKER_03 (11:30):
That's a cool sound, isn't it?
Just the glasses of paper.
SPEAKER_01 (11:32):
Yeah.
Which have a little basket thatlike that.
SPEAKER_03 (11:34):
You should have a basket for me to hit.
Yeah, I would never hit it.
SPEAKER_02 (11:37):
And the sound that the graphic that has the glass
break.
SPEAKER_03 (11:39):
The glass, yeah.
That would be good.
By the way, the federal cuts.
Oh yeah.
Everybody thinks, once again,that that's tied directly to the
interest rates.
It's not.
It's a it's an it's a it's anafter-effect many times.
But most of the times, actually,it is already it has already
happened before the Fed rategoes down.
SPEAKER_02 (11:58):
Yep, based on speculation.
SPEAKER_03 (11:59):
It's speculation, just like the stock market,
everything else.
Everybody always says, Oh mygosh, what's gonna it's well,
it's already done.
It's built, they always say it'syou'll hear them say it's built
in.
It's already built into theprice.
Yeah, um what was their average,Hugo?
SPEAKER_02 (12:11):
You said the average, six point three six.
Six point three six is where therate is right now.
Average right around this point.
So it's dropping.
SPEAKER_03 (12:17):
Yeah, it's it's well here's the thing it's a tr it's
trend, it's trending down, butit's also staying flat.
I think Hugo, you said too, it'skind of it's kind of flattening
out at that six and a quarter tosix and a half range.
It's it's in that range rightthere, which is a better range
than 7 and 0.75 and 8.
Right, which is where we were.
It's it is better, it's better.
(12:38):
Um, and I think that's whatfreed up inventory.
Yeah.
SPEAKER_02 (12:40):
Oh, absolutely.
SPEAKER_03 (12:41):
Definitely freed up inventory.
SPEAKER_01 (12:42):
I did notice that your point, your previous point
about how it happens prior thatthe rates actually go down,
because I noticed that I I waschecking the rates, and then
once once the they announce thethe cut, they they shot up
again.
SPEAKER_03 (12:56):
Yeah, and that's right, and that's what happens
because it's already, it'salready kind of they they
predict, they go, okay.
And all it's like they look atthe tea leaves and they go,
okay, yeah, we know that's goingto be 25 basis points going
down.
SPEAKER_00 (13:08):
Yeah.
SPEAKER_03 (13:08):
So they all go, okay.
So they end up more people buybonds, yeah, and then the the
rate goes down.
So it it's interesting how thatworks.
SPEAKER_02 (13:16):
I picture a group of uh a room of guys just sitting
around smoking weed.
SPEAKER_03 (13:20):
Yeah, probably.
Maybe we should just drop themdown, man.
Hugo said we should.
Hugo said we should.
Let's do it.
Let's do the refi.
Hugo's in the damn room.
But then, so there's there'sthey're saying two more cuts,
possibly.
Now, this was put out a littlebit ago, and that might not
(13:41):
happen based on the um inflationis still hovering right around
2.9%.
So that could make it that theydon't uh lower the rates twice,
maybe only once, but the labormarket's not doing so well.
SPEAKER_02 (13:54):
Which is the third factor, which is the other
factor.
SPEAKER_03 (13:56):
And if and and actually a lot of times what
they say is the Fed will lowerbased on the labor market, not
as much so on inflation, becauseyou gotta have jobs in order to
afford anything.
SPEAKER_02 (14:08):
Yep.
SPEAKER_03 (14:08):
So if inflation's at 2.9%, if you don't have a job,
that's a really bad.
Yeah.
But if you have a job, it's notas bad.
Right.
Exactly.
You know what I mean?
Yeah.
So they're really worried aboutthe labor market.
And I and I think that's gonnacome up.
We're probably losing a lot ofFed jobs.
I mean, that's that's gonnahappen.
We're shrinking government rightnow.
Yep.
So what happened?
SPEAKER_01 (14:27):
How did you say the three uh the three elements uh
that contribute uh well it wouldbe it would be um uh one is is
the labor market.
SPEAKER_03 (14:34):
Labor market price, prices like inflation, and
interest and interest, yeah,interest rates.
Yeah, they've got lesser ones.
Those are the ones.
SPEAKER_02 (14:40):
So prices are up.
Yep.
When interest goes down, it'smore affordable, or if it goes
up, it's not, right?
Yeah, and you've got to have ajob.
Yeah, that's right.
So the the the unemployment rateis is that third factor of what
they look at.
The unemployment rate, which isusually is not accurate, in my
opinion.
It's usually more, but they gooff the stats.
SPEAKER_03 (14:59):
Oh, and I love how they adjust them then.
SPEAKER_02 (15:00):
Yeah.
SPEAKER_03 (15:01):
They adjust them every time.
Yeah.
Here's what it is.
This is it for the month.
Month later, oh, we adjustedthat.
Yeah, because we didn't knowwhat the hell we were talking
about before.
SPEAKER_02 (15:10):
Smoked one too many joints that day.
SPEAKER_03 (15:12):
The room got a little full of smoke.
Got a little more full of smoke.
I don't even understand.
But uh no, but uh, the Fedthings have the mortgage rates
declined because of weak jobsreport.
Um you know, and it it's it'skind of oh, this was interesting
too.
That the stalling job market cutuh makes a cut likely.
So they're saying that rightnow, 91.7 percent of economists
are saying there's gonna beanother 25 basis cut coming up
(15:36):
very soon.
SPEAKER_02 (15:37):
Before the end of the year.
Before the end of the year,yeah.
Yep.
I saw the same thing.
SPEAKER_03 (15:40):
Uh 8.3% said there's no cut.
Those people are clueless.
They're clueless.
Yeah.
We don't even know them.
We don't even I won't evenassociate with them.
Those are the ostriches.
Yep, exactly.
Don't even look at them.
Don't even look at them.
So, what else you got there,Pete?
SPEAKER_02 (15:53):
So I I had to tell you this one, and I we just
before the show, talking aboutwhere the housing value has hit
in the United States.
I mean, folks, all you're Brad'sBrad's gonna have a comment
about this, which I hope he saysit.
The housing value have hit$55.1trillion.
That's the value of all realestate in the United States of
America, which is up$20 trillionsince 2020.
(16:15):
Unbelievable.
And that's almost a third.
That's incredible.
That's almost a third of thatnumber.
So my ideas are you want youwant me to tell my and and that
was led by actually theNortheast.
The Northeast was the largestsector of appreciation, which
was 216 billion of that fit ofthat 20 billion increase, and
it's all driven by lowinventory.
(16:36):
It's 100% low inventory driven.
It's incredible.
Brad has a great idea going on.
SPEAKER_03 (16:40):
Yeah, so I think we're gonna do, we'll take a
look at we're gonna sell all 5trillion?
55.1 trillion.
55.1.
Well, actually, we'll just leavethe one point, the point one.
We'll just do 55 trillion.
We don't want to sell it all.
So we're gonna we're gonna sellthe 55 trillion in homes.
Yeah.
We're gonna pay off the debt forthe country, which is like 36
trillion, 37 trillion.
(17:00):
Yeah, and then we're gonnadivide what's left over amongst
everybody.
SPEAKER_02 (17:03):
That's right.
Yeah.
What do you think?
Yeah.
I think we just solvedeverything.
You know what?
I need a downsize anyway.
SPEAKER_03 (17:10):
It's called socialism.
Like downsides into a tent.
I don't want to own anythinganyway.
I never liked owning a house.
SPEAKER_01 (17:19):
Exactly.
On a different point, there's aquestion from the audience here.
This is a realtor.
Akita Stevens asks, I am arealtor, and my sister just
texted me.
Hey, um, we gonna we are closingon a house next uh week.
Uh sorry, we didn't go with you.
What do I respond?
(17:41):
So it's her sister.
SPEAKER_03 (17:42):
Sorry, she can go with me.
SPEAKER_01 (17:44):
Yeah, so she is a realtor and her sister went with
a different realtor.
Yes.
What do I respond?
How do I how do I address it?
She asks.
SPEAKER_03 (17:53):
Find another sister.
SPEAKER_02 (17:55):
You can't come to Thanksgiving dinner anymore.
SPEAKER_03 (17:58):
That is that is very awkward.
That's awkward.
Very awkward.
I would say, are they close?
Is the question, you know?
If they're close, that's reallyweird.
Yeah, that's really weird.
Yeah, I would say, yeah, look.
They sell sisters, I think, atWalmart, don't they?
Do I think they put it?
It's like$7.47,$7.47.
Yeah, and then you get thelittle smiley on there.
(18:19):
It's really nice.
Uh, but no, I I I think that'sthat's tough.
I mean, it happens though.
Yeah.
I've had relatives that havebought uh and sold homes homes
with other people.
SPEAKER_01 (18:30):
So, what is the advice for young realtors out
there?
SPEAKER_02 (18:32):
How to Well, I mean, if you if you have a relative
that wants to use anotheranother agent, uh, there's a lot
of agents out there that tellpeople to do that.
Oh, really?
Because if it's a businesstransaction and they don't want
to ruin the relationship withtheir relative.
So the agent that's trying toget their business say you
shouldn't list with your sisteror your brother because of this
reason.
Uh-huh.
And so maybe is a snake.
(18:55):
Yeah.
And that's basically a snake.
That's a snake.
Brad and I would say you shouldgo with your sister and do it.
I would absolutely say go withyour family again.
SPEAKER_03 (19:02):
People do use that ext they'll say that.
I don't believe in that.
I don't either.
Yeah, I I think family shouldstick with family.
Amen.
I believe and maybe the realtorwill give the family member a
little discount or something.
Right.
I always my parents got adiscount.
My brother got a discount.
SPEAKER_01 (19:18):
Yeah.
SPEAKER_03 (19:18):
Yeah.
SPEAKER_01 (19:18):
There you go.
So, Rikita, that's what youshould do.
SPEAKER_02 (19:21):
So, Sam, if you're watching, not getting a
discount.
SPEAKER_03 (19:24):
He has 19 kids, so he can't give discounts.
I can't afford a discount.
True.
Oh my goodness.
Is that it?
That's all that's all I got fromthe audience.
That's all we got from the greatquestion.
So, as as a whole, I mean themarket is um it's changing a
little bit.
And I and I I can't stressenough for sellers, don't
(19:45):
overprice your house.
Oh, huge.
It's definitely becoming um uh asituation where we really have
to build that expectation upfront to say, look, you know,
this is not 2024, yeah, 23, 22,21.
This is not that time.
Things are leveling off.
It's becoming more of a levelplaying field for the buyer and
the seller.
(20:05):
Some areas, yes, still you'regonna go bonkers and you're
gonna get gazillions ofshowings, you're gonna get
multiple offers, but we areseeing that definitely is
decreasing.
You see that, you see everywhereit's starting to happen.
Yep.
So don't overprice.
And I think that's what'shappened.
It's not that it's not that thebuyers aren't willing to pay
that anymore.
What has happened is thatsellers just keep adding five to
(20:26):
ten percent to the personbefore.
That's right.
And and it you can't keep doingthat.
It doesn't work that way.
SPEAKER_02 (20:33):
Well, KC M just had a graphic on that.
I don't have that.
It was it was the other day.
Um I don't have that one.
Back in COVID time, 2021, and Ithink maybe into 22, the people
who are getting less than theirasking price was like 23%.
Wow.
And that's up to like 50% now.
I think it was 49.5 for like 24and 25.
(20:55):
Oh wow.
It's like we're in almost 60%graph, yeah, which is double.
Yeah, really of the people notgetting their asking price.
SPEAKER_03 (21:03):
Well, and that's because your asking price is
obviously blown up.
Some people holistic, right?
Yeah, you gotta put it.
So careful.
And and and what I think theydon't realize also is that you
know, if you're gonna do that,if you're gonna do a little test
to the market, if you decidethat that's when you do, because
at the end of the day, it isyour decision to sell her.
Yep, what they're gonna list itat.
We guide, we we we show youeverything we can, but at the
(21:23):
end of the day, it's yourdecision.
Exactly.
Okay.
But make changes quickly.
Yeah, right.
Because when you go when you'reon the market in this market
still, and you go past thataverage days on the market, what
does the buyer go?
What's wrong?
Something's wrong.
Something's wrong.
Yep.
And guess what happens then?
Yep.
You don't get you get a lowerprice.
Yep, that's a lower price.
SPEAKER_02 (21:43):
Lower than what you would have had if you would have
listed it right at the sametime.
SPEAKER_03 (21:45):
Absolutely, yeah, absolutely.
So that's what we're gonna closewith, I think.
Okay, that sounds great.
Are you good with that?
I'm good.
If you're good, I'm great.
Hugo, you're good?
Yeah, Hugo, you're good?
Yeah, good.
All right, you look good, Hugo.
You look good, you're lookinggood.
I took a shower this morning.
Okay.
You took a shower, that's goodfor you.
Holy mackerel.
Every month he takes a showerfor the Pete Heim show.
SPEAKER_01 (22:06):
Whether I need it or not.
Whether you need it.
Oh my god.
We appreciate that.
SPEAKER_03 (22:09):
Yeah, we do.
It's a small studio.
All right, that's it.
We're kicking Pete out of here.
He'll be back next month forsure.
And uh, we'll tell you all thatthere is to know about the real
estate market locally,nationally, globally, Mars, the
moon, who knows?
All right, you'll see.
See you next Thursday at 7 p.m.
Oh Jesus might from real estate the market as a
whole which then sometimes willaffect the technique right in
real life.
We all learn and do if you thinkabout it Wayne Dyer might not
attract everybody and everythingin between.
(00:24):
The Brad Wiseman Show.
And now your host, Brad Wiseman.
All right, we're back.
Thanks for joining us everyThursday at 7 p.m.
Don't forget that it's everyThursday at 7 p.m.
We bring you all kinds of greatguests, except for today, of
course.
Um, but we bring you all kindsof great guests, and we are
(00:45):
searching wide now for guests,right, Hugo?
I mean, they're coming from allover the place.
We have some guests coming upfrom an AE show coming up in the
future.
Uh, we got uh oh just alldifferent kinds of stuff.
So it's it's very exciting.
We're we're really excited aboutit.
Plus, we are going to bestarting another show, like an
offshoot of this show, that'sgonna be called the Brad Wiseman
(01:07):
Show, Live and Local.
And uh it's gonna be great.
So um we're gonna be startingthat uh probably in the next
month or so.
So just keep an eye out forthat.
Actually, I think it's local andlive.
I don't think it's live andlocal.
I think I reversed that.
SPEAKER_01 (01:18):
No, you were right.
It's live and local.
It's live and local.
SPEAKER_03 (01:21):
Okay, there we go.
I was right.
See, see, he said I was right.
All right, no, but we have thewonderful, the most amazing Pete
Heim here.
Yeah, that's what I should havedone.
There we go.
There we go.
Yeah, yeah.
Yes, I'm the guest that'sprobably the only time you've
ever been clapped before.
SPEAKER_02 (01:36):
I'm the guy that shows up when he doesn't have
another guest.
SPEAKER_03 (01:39):
That's exactly right.
And it happens to be everymonth.
It happens to be every month.
But no, real estate is ischanging.
It is, it is, and it's good.
It's good.
And it's funny, uh, my theme fortoday was bad news sometimes in
real estate.
Bad news in in the world issometimes good news for real
estate.
Yeah, it gives us something totalk about.
It gives us something to talkabout, but it also it it
(02:01):
actually makes our numbers alittle better sometimes.
SPEAKER_02 (02:05):
It does.
SPEAKER_03 (02:05):
You know, and you know, um Gary Keller said about
a year ago, typically the realestate market is in a recession
way before the rest of the worldor the rest of the economy
becomes into a recession.
Yeah.
He said, we're usually comingout of it when they're kind of
going in it.
Right.
Yeah.
And then we kind of lead themout of it because of how much
(02:28):
housing has to do with theeconomy.
Yeah, we lead them out.
So that either that could meanalso that maybe we start the
recession because housing wasn'tdoing as well.
I mean, housing's doing well asfar as prices you get for your
house, but the amount of saleswe've had has not been as good
as far as a country.
Yep.
So therefore, we have lessfurniture sales, we have less
(02:50):
appliance sales, all the thingsthat happen.
Because in a house, you know, wewe drive the economy.
The housing market drives theeconomy.
SPEAKER_02 (02:58):
Yeah, if someone could just think about well, you
guys can go ahead.
Go ahead and think about it.
All the different industriesthat touch us.
I mean, gosh, the landscaping,cleaning services, and you know,
well, every single productthat's made in your house,
carpet, carpet and tile,appliances, yeah, everything.
SPEAKER_03 (03:12):
There's so many things that go into a house.
Yeah.
So it's it just shows you thatwe have you know it's a big part
of the economy.
So with that being said, thenwe'll get into some of your
numbers there.
Yeah.
The recovery is expected tobegin go to expected to begin
going into next year.
So this year there's projectingfour million homes.
Wait, what recovery?
Recovery for what now?
Uh this is the recovery ofinventory.
Oh, okay.
Inventory and sales.
(03:34):
Actually, existing home sales.
So they're saying for 2025,we're gonna end up around four
million.
Four million.
Yeah, yeah.
Which they're saying in 2026,4.5 million.
That's a lot.
Yeah.
That's a that's 500,000 more.
SPEAKER_02 (03:49):
Yeah, because of the reason?
SPEAKER_03 (03:51):
It just I I I it doesn't say it doesn't.
This is all it says.
Do you see the reason on here,any Pete?
Do you see a reason on here?
No.
Okay, all right.
So here we go.
We're gonna just take that andchuck that there.
So who here wants to know thereason?
I want to know the reason.
I want to know the reason too,but that's what you're here for.
You're here for something.
I've got the reason.
All right, go ahead.
(04:11):
Tell us the reason.
I'm looking forward to it.
SPEAKER_02 (04:13):
This the whole thing's inventory-driven.
I mean, the whole thing is,folks, if you see the market as
you know, you hear the doom andgloom stories of oh, there's not
many sales on the well, yeah,because there's not many homes
on the market.
That's basically it.
Absolutely.
That's the bottom line.
Bottom line.
Yep.
And that's probably a good agood predic a projection because
we were at, I think, 540 todayin Berks County, or it was uh
last night.
537.
(04:34):
Okay.
Brad sold three today.
SPEAKER_03 (04:36):
Um, but uh No, that's for the year I sold.
Oh, yeah.
Yeah, that was for the year.
The kids need shoes.
SPEAKER_02 (04:45):
Yeah, I saw the duct tape.
It was pretty bad.
Anyway, but no, um, yeah, it'sall inventory driven right now.
That's yeah, it's it's thatsimple.
But it's coming up.
It is, and that's why the salesare gonna be coming up.
And that with a projection thatfour and a half in 2026 is
probably accurate.
Yeah, are they saying it's gonnabe four million this year?
Is that what it says?
SPEAKER_03 (05:02):
Four million, they're saying we're that that's
projected that we're gonna endup at four million this year.
Well it's on that pace.
SPEAKER_02 (05:07):
I think it's at three something right now.
So okay.
SPEAKER_03 (05:09):
Yeah.
So what else do you what do yougot there?
SPEAKER_02 (05:11):
Oh, I got all kinds of cool things.
Um well, let's talk about let'snot talk about the downsizing
thing yet, but the I saw thisgraphic from KCM buyers and
sellers facing very differentconditions today.
I mean, with this with this lowinventory and now the rates
coming down and stuff like that.
There was uh there's one, two,three, four.
(05:32):
There's five points I want to uhstats that I want to convey.
SPEAKER_03 (05:36):
Yeah.
SPEAKER_02 (05:37):
And the first one's inventory.
SPEAKER_03 (05:39):
Okay.
SPEAKER_02 (05:39):
Uh from August of 2019 to August of 2025.
In Pennsylvania, we had anegative 41.6% drop in
inventory.
Wow.
Okay.
And then I took other states.
Florida's ready?
Yeah.
Plus 25%.
SPEAKER_03 (05:57):
Wow.
SPEAKER_02 (05:58):
Okay.
Tennessee, shocked.
The highest.
32.9% in inventory increase.
SPEAKER_03 (06:04):
Wow.
SPEAKER_02 (06:05):
And this is last year.
So when is this?
Okay.
Illinois is the number one drop.
Would have never seen this onecoming.
Negative 62.9%.
You think they're fleeing fromChicago?
Maybe.
Possibly.
I mean, that's probably thelargest metropolitan, right?
Yeah.
SPEAKER_03 (06:22):
In in in Illinois.
Right.
SPEAKER_02 (06:23):
Well, New York's the people are fleeing.
Philly, they're fleeing.
Yeah.
Texas was 31.8% increase.
Wow.
Right.
Which I was surprised about.
SPEAKER_03 (06:34):
And what were we again?
SPEAKER_02 (06:35):
Negative 41.6.
SPEAKER_03 (06:37):
That's crazy.
SPEAKER_02 (06:38):
Now we weren't the bottom.
Tennessee.
Uh Illinois was the bottom.
Yeah, right, right.
Okay.
So now keep it keep that inmind.
We were net we're negativeinventory.
Florida's up.
Tennessee's up, which is therecord.
Yeah.
Illinois way down.
Texas is up.
Okay?
Price trends from the quarter,quarter two of 2024 to quarter
two of 2025, we're up 4.79%appreciation.
(06:59):
Okay.
And that in that year.
Okay.
Q2 to Q2.
Okay.
Florida is down 1.39%.
Okay.
Again, they were up ininventory.
Right?
You follow me?
So that's what happened.
Yeah.
Tennessee, negative 3%.
No, I'm sorry.
3% increase with a 32% increasein inventory, which is
(07:20):
interesting.
Yeah.
I know a lot, I don't know aboutyou.
I know a lot of people havemoved to Tennessee recently.
SPEAKER_03 (07:24):
Well, it's it's the weather.
And they have they have greatweather.
SPEAKER_02 (07:27):
They have great weather and they have lower
prices.
SPEAKER_03 (07:30):
Yep.
Lower prices, great weather, andno rules.
And they have Nashville.
SPEAKER_02 (07:34):
Yeah, and they have no rules.
SPEAKER_03 (07:35):
I mean, why wouldn't you want to live near Nashville?
They have no rules.
SPEAKER_02 (07:37):
I was talking to an attorney who moved there, had
got the guy, the delivery, theFedEx guy has to call him when
he's at the bottom of his laneto give him permission to come
up the lane.
SPEAKER_03 (07:47):
Wow.
SPEAKER_02 (07:47):
Because there's like no property right kind of stuff
going on.
Yeah, yeah, yeah.
It's like still like the WildWest kind of thing.
It's really strange, right?
SPEAKER_03 (07:54):
Yep.
SPEAKER_02 (07:54):
Illinois down is no a 6.73% increase.
Increase.
Because they had a negative 62%.
SPEAKER_03 (08:01):
Yep, so that brings the price up.
SPEAKER_02 (08:03):
And Texas is up just almost slightly, half a percent.
SPEAKER_03 (08:06):
Amazing.
SPEAKER_02 (08:06):
And time on time on market.
We're 49 days.
Here.
Yeah.
Well that went up.
In August of 25.
Now this is Pennsylvania.
Okay.
Brooks County is 21.
Okay.
Okay.
Uh Florida's 87.
SPEAKER_03 (08:19):
Days on the market.
SPEAKER_02 (08:20):
Yep.
Tennessee is 65.
That's crazy.
Illinois is 38.
Wow.
And this is now state, guys.
These are by state.
This is not micro local stats.
This is state stats now.
Okay.
And Texas is 64.
SPEAKER_03 (08:36):
Wow.
Interesting.
SPEAKER_02 (08:38):
So we're what are we at in Pennsylvania?
49 days.
SPEAKER_03 (08:40):
So what are we here in Berks County?
21.
Wow.
That's good.
You know what's funny?
Berks County is definitely likeresilient.
You know what it is?
We just don't have inventory.
SPEAKER_02 (08:48):
No, we'll not build Philly.
Yeah, right.
We're not built.
Pittsburgh's 60-70.
Harrisburg's around 40.
SPEAKER_03 (08:56):
And what are they doing that we we don't do?
Build.
They have buildings.
They build.
They build.
Yeah.
Boom.
Berks County's the non-buildingcounty.
SPEAKER_02 (09:05):
Yeah, unfortunately it is.
So equity growth, past fiveyears, as of Q2, 2025.
You guys hope you're sittingdown, man.
SPEAKER_03 (09:12):
We are.
I don't know about you.
And Hugo's sitting down, too.
SPEAKER_02 (09:16):
I'm talking to your listeners.
Oh, okay.
SPEAKER_03 (09:18):
Listeners, yes, yes.
Okay.
SPEAKER_02 (09:19):
This is Q2 of five years ago of 2020 to Q2 of 2025.
Okay.
Pennsylvania was 53.2.
We were 56 since 2019.
That's percentage increase.
This is percentage valueincrease.
Equity growth.
This is equity growth.
50 some percent.
Florida's 63.8, which I'mshocked.
Because I think they went wham.
(09:40):
Well, that's what Florida was.
SPEAKER_03 (09:41):
Wham.
They don't actually make thatsound when they do it.
Well, it's kind of like that.
The wham.
No, but they they I always saythat.
Florida is one of those statesthat goes like this.
The roller coaster.
And goes like this.
And then it goes like yeah,that's the difference between
us.
We we ride this little wave inbetween.
Yeah, we're going to go.
That's what it sounds like.
That's like wham.
(10:01):
Yeah, it's not a wham.
Yeah, it's kind of like aheartbeat.
SPEAKER_00 (10:04):
It's yeah.
SPEAKER_03 (10:05):
A little different.
He's been away too long, Ithink, is what it is.
He's got a lot, he's been onvacation.
It's been too long forever.
My goodness.
I can't believe he actuallystopped in today.
You must be in between vacationsor something.
SPEAKER_02 (10:18):
Look, there's Pete.
Let's go talk.
Tennessee, 65% increase in thattime frame.
Illinois 54% increase.
Texas, 46% increase.
And the national just under 54%.
SPEAKER_03 (10:31):
That's the national.
SPEAKER_02 (10:32):
Just under 54%.
That's where we're at, 53.2.
SPEAKER_03 (10:35):
It'll be interesting to see where where that goes.
As inventory goes up.
It'll be interesting to seewhere that goes.
SPEAKER_02 (10:42):
Yep.
But but the people staying intheir homes again is still at
10.
Yeah.
It's still 10 years.
Remember, we used to be 10years.
SPEAKER_03 (10:48):
10 years used to be seven.
SPEAKER_02 (10:49):
But it's 10 still.
SPEAKER_03 (10:50):
I think Berks County was always closer to 10, though.
I always thought so.
When I used to say seven, butaround here, people stay a lot,
they stay longer, I think.
They do.
Yeah.
Yeah.
We're just different.
We are.
We're just weird.
We're nice.
We're just weird.
We're so nice.
We're so nice.
SPEAKER_00 (11:04):
We're so nice.
It's weird.
SPEAKER_03 (11:05):
It's kind of weird how nice we are.
It is.
It's very weird how nice we are.
So let's talk about it.
The price growth, as you said,is the slowest since the summer
of 2023.
But it's still, you know,averaging here like three uh two
and a half to three percentthrough the whole country.
SPEAKER_02 (11:21):
Oh, you now okay, national, yeah.
Yeah, year over year.
That that's Brad, by the way.
About three or four months ago,we did that stat and it was 1.3.
It was one point something.
So now you say it's two pointthree.
SPEAKER_03 (11:30):
That's a cool sound, isn't it?
Just the glasses of paper.
SPEAKER_01 (11:32):
Yeah.
Which have a little basket thatlike that.
SPEAKER_03 (11:34):
You should have a basket for me to hit.
Yeah, I would never hit it.
SPEAKER_02 (11:37):
And the sound that the graphic that has the glass
break.
SPEAKER_03 (11:39):
The glass, yeah.
That would be good.
By the way, the federal cuts.
Oh yeah.
Everybody thinks, once again,that that's tied directly to the
interest rates.
It's not.
It's a it's an it's a it's anafter-effect many times.
But most of the times, actually,it is already it has already
happened before the Fed rategoes down.
SPEAKER_02 (11:58):
Yep, based on speculation.
SPEAKER_03 (11:59):
It's speculation, just like the stock market,
everything else.
Everybody always says, Oh mygosh, what's gonna it's well,
it's already done.
It's built, they always say it'syou'll hear them say it's built
in.
It's already built into theprice.
Yeah, um what was their average,Hugo?
SPEAKER_02 (12:11):
You said the average, six point three six.
Six point three six is where therate is right now.
Average right around this point.
So it's dropping.
SPEAKER_03 (12:17):
Yeah, it's it's well here's the thing it's a tr it's
trend, it's trending down, butit's also staying flat.
I think Hugo, you said too, it'skind of it's kind of flattening
out at that six and a quarter tosix and a half range.
It's it's in that range rightthere, which is a better range
than 7 and 0.75 and 8.
Right, which is where we were.
It's it is better, it's better.
(12:38):
Um, and I think that's whatfreed up inventory.
Yeah.
SPEAKER_02 (12:40):
Oh, absolutely.
SPEAKER_03 (12:41):
Definitely freed up inventory.
SPEAKER_01 (12:42):
I did notice that your point, your previous point
about how it happens prior thatthe rates actually go down,
because I noticed that I I waschecking the rates, and then
once once the they announce thethe cut, they they shot up
again.
SPEAKER_03 (12:56):
Yeah, and that's right, and that's what happens
because it's already, it'salready kind of they they
predict, they go, okay.
And all it's like they look atthe tea leaves and they go,
okay, yeah, we know that's goingto be 25 basis points going
down.
SPEAKER_00 (13:08):
Yeah.
SPEAKER_03 (13:08):
So they all go, okay.
So they end up more people buybonds, yeah, and then the the
rate goes down.
So it it's interesting how thatworks.
SPEAKER_02 (13:16):
I picture a group of uh a room of guys just sitting
around smoking weed.
SPEAKER_03 (13:20):
Yeah, probably.
Maybe we should just drop themdown, man.
Hugo said we should.
Hugo said we should.
Let's do it.
Let's do the refi.
Hugo's in the damn room.
But then, so there's there'sthey're saying two more cuts,
possibly.
Now, this was put out a littlebit ago, and that might not
(13:41):
happen based on the um inflationis still hovering right around
2.9%.
So that could make it that theydon't uh lower the rates twice,
maybe only once, but the labormarket's not doing so well.
SPEAKER_02 (13:54):
Which is the third factor, which is the other
factor.
SPEAKER_03 (13:56):
And if and and actually a lot of times what
they say is the Fed will lowerbased on the labor market, not
as much so on inflation, becauseyou gotta have jobs in order to
afford anything.
SPEAKER_02 (14:08):
Yep.
SPEAKER_03 (14:08):
So if inflation's at 2.9%, if you don't have a job,
that's a really bad.
Yeah.
But if you have a job, it's notas bad.
Right.
Exactly.
You know what I mean?
Yeah.
So they're really worried aboutthe labor market.
And I and I think that's gonnacome up.
We're probably losing a lot ofFed jobs.
I mean, that's that's gonnahappen.
We're shrinking government rightnow.
Yep.
So what happened?
SPEAKER_01 (14:27):
How did you say the three uh the three elements uh
that contribute uh well it wouldbe it would be um uh one is is
the labor market.
SPEAKER_03 (14:34):
Labor market price, prices like inflation, and
interest and interest, yeah,interest rates.
Yeah, they've got lesser ones.
Those are the ones.
SPEAKER_02 (14:40):
So prices are up.
Yep.
When interest goes down, it'smore affordable, or if it goes
up, it's not, right?
Yeah, and you've got to have ajob.
Yeah, that's right.
So the the the unemployment rateis is that third factor of what
they look at.
The unemployment rate, which isusually is not accurate, in my
opinion.
It's usually more, but they gooff the stats.
SPEAKER_03 (14:59):
Oh, and I love how they adjust them then.
SPEAKER_02 (15:00):
Yeah.
SPEAKER_03 (15:01):
They adjust them every time.
Yeah.
Here's what it is.
This is it for the month.
Month later, oh, we adjustedthat.
Yeah, because we didn't knowwhat the hell we were talking
about before.
SPEAKER_02 (15:10):
Smoked one too many joints that day.
SPEAKER_03 (15:12):
The room got a little full of smoke.
Got a little more full of smoke.
I don't even understand.
But uh no, but uh, the Fedthings have the mortgage rates
declined because of weak jobsreport.
Um you know, and it it's it'skind of oh, this was interesting
too.
That the stalling job market cutuh makes a cut likely.
So they're saying that rightnow, 91.7 percent of economists
are saying there's gonna beanother 25 basis cut coming up
(15:36):
very soon.
SPEAKER_02 (15:37):
Before the end of the year.
Before the end of the year,yeah.
Yep.
I saw the same thing.
SPEAKER_03 (15:40):
Uh 8.3% said there's no cut.
Those people are clueless.
They're clueless.
Yeah.
We don't even know them.
We don't even I won't evenassociate with them.
Those are the ostriches.
Yep, exactly.
Don't even look at them.
Don't even look at them.
So, what else you got there,Pete?
SPEAKER_02 (15:53):
So I I had to tell you this one, and I we just
before the show, talking aboutwhere the housing value has hit
in the United States.
I mean, folks, all you're Brad'sBrad's gonna have a comment
about this, which I hope he saysit.
The housing value have hit$55.1trillion.
That's the value of all realestate in the United States of
America, which is up$20 trillionsince 2020.
(16:15):
Unbelievable.
And that's almost a third.
That's incredible.
That's almost a third of thatnumber.
So my ideas are you want youwant me to tell my and and that
was led by actually theNortheast.
The Northeast was the largestsector of appreciation, which
was 216 billion of that fit ofthat 20 billion increase, and
it's all driven by lowinventory.
(16:36):
It's 100% low inventory driven.
It's incredible.
Brad has a great idea going on.
SPEAKER_03 (16:40):
Yeah, so I think we're gonna do, we'll take a
look at we're gonna sell all 5trillion?
55.1 trillion.
55.1.
Well, actually, we'll just leavethe one point, the point one.
We'll just do 55 trillion.
We don't want to sell it all.
So we're gonna we're gonna sellthe 55 trillion in homes.
Yeah.
We're gonna pay off the debt forthe country, which is like 36
trillion, 37 trillion.
(17:00):
Yeah, and then we're gonnadivide what's left over amongst
everybody.
SPEAKER_02 (17:03):
That's right.
Yeah.
What do you think?
Yeah.
I think we just solvedeverything.
You know what?
I need a downsize anyway.
SPEAKER_03 (17:10):
It's called socialism.
Like downsides into a tent.
I don't want to own anythinganyway.
I never liked owning a house.
SPEAKER_01 (17:19):
Exactly.
On a different point, there's aquestion from the audience here.
This is a realtor.
Akita Stevens asks, I am arealtor, and my sister just
texted me.
Hey, um, we gonna we are closingon a house next uh week.
Uh sorry, we didn't go with you.
What do I respond?
(17:41):
So it's her sister.
SPEAKER_03 (17:42):
Sorry, she can go with me.
SPEAKER_01 (17:44):
Yeah, so she is a realtor and her sister went with
a different realtor.
Yes.
What do I respond?
How do I how do I address it?
She asks.
SPEAKER_03 (17:53):
Find another sister.
SPEAKER_02 (17:55):
You can't come to Thanksgiving dinner anymore.
SPEAKER_03 (17:58):
That is that is very awkward.
That's awkward.
Very awkward.
I would say, are they close?
Is the question, you know?
If they're close, that's reallyweird.
Yeah, that's really weird.
Yeah, I would say, yeah, look.
They sell sisters, I think, atWalmart, don't they?
Do I think they put it?
It's like$7.47,$7.47.
Yeah, and then you get thelittle smiley on there.
(18:19):
It's really nice.
Uh, but no, I I I think that'sthat's tough.
I mean, it happens though.
Yeah.
I've had relatives that havebought uh and sold homes homes
with other people.
SPEAKER_01 (18:30):
So, what is the advice for young realtors out
there?
SPEAKER_02 (18:32):
How to Well, I mean, if you if you have a relative
that wants to use anotheranother agent, uh, there's a lot
of agents out there that tellpeople to do that.
Oh, really?
Because if it's a businesstransaction and they don't want
to ruin the relationship withtheir relative.
So the agent that's trying toget their business say you
shouldn't list with your sisteror your brother because of this
reason.
Uh-huh.
And so maybe is a snake.
(18:55):
Yeah.
And that's basically a snake.
That's a snake.
Brad and I would say you shouldgo with your sister and do it.
I would absolutely say go withyour family again.
SPEAKER_03 (19:02):
People do use that ext they'll say that.
I don't believe in that.
I don't either.
Yeah, I I think family shouldstick with family.
Amen.
I believe and maybe the realtorwill give the family member a
little discount or something.
Right.
I always my parents got adiscount.
My brother got a discount.
SPEAKER_01 (19:18):
Yeah.
SPEAKER_03 (19:18):
Yeah.
SPEAKER_01 (19:18):
There you go.
So, Rikita, that's what youshould do.
SPEAKER_02 (19:21):
So, Sam, if you're watching, not getting a
discount.
SPEAKER_03 (19:24):
He has 19 kids, so he can't give discounts.
I can't afford a discount.
True.
Oh my goodness.
Is that it?
That's all that's all I got fromthe audience.
That's all we got from the greatquestion.
So, as as a whole, I mean themarket is um it's changing a
little bit.
And I and I I can't stressenough for sellers, don't
(19:45):
overprice your house.
Oh, huge.
It's definitely becoming um uh asituation where we really have
to build that expectation upfront to say, look, you know,
this is not 2024, yeah, 23, 22,21.
This is not that time.
Things are leveling off.
It's becoming more of a levelplaying field for the buyer and
the seller.
(20:05):
Some areas, yes, still you'regonna go bonkers and you're
gonna get gazillions ofshowings, you're gonna get
multiple offers, but we areseeing that definitely is
decreasing.
You see that, you see everywhereit's starting to happen.
Yep.
So don't overprice.
And I think that's what'shappened.
It's not that it's not that thebuyers aren't willing to pay
that anymore.
What has happened is thatsellers just keep adding five to
(20:26):
ten percent to the personbefore.
That's right.
And and it you can't keep doingthat.
It doesn't work that way.
SPEAKER_02 (20:33):
Well, KC M just had a graphic on that.
I don't have that.
It was it was the other day.
Um I don't have that one.
Back in COVID time, 2021, and Ithink maybe into 22, the people
who are getting less than theirasking price was like 23%.
Wow.
And that's up to like 50% now.
I think it was 49.5 for like 24and 25.
(20:55):
Oh wow.
It's like we're in almost 60%graph, yeah, which is double.
Yeah, really of the people notgetting their asking price.
SPEAKER_03 (21:03):
Well, and that's because your asking price is
obviously blown up.
Some people holistic, right?
Yeah, you gotta put it.
So careful.
And and and what I think theydon't realize also is that you
know, if you're gonna do that,if you're gonna do a little test
to the market, if you decidethat that's when you do, because
at the end of the day, it isyour decision to sell her.
Yep, what they're gonna list itat.
We guide, we we we show youeverything we can, but at the
(21:23):
end of the day, it's yourdecision.
Exactly.
Okay.
But make changes quickly.
Yeah, right.
Because when you go when you'reon the market in this market
still, and you go past thataverage days on the market, what
does the buyer go?
What's wrong?
Something's wrong.
Something's wrong.
Yep.
And guess what happens then?
Yep.
You don't get you get a lowerprice.
Yep, that's a lower price.
SPEAKER_02 (21:43):
Lower than what you would have had if you would have
listed it right at the sametime.
SPEAKER_03 (21:45):
Absolutely, yeah, absolutely.
So that's what we're gonna closewith, I think.
Okay, that sounds great.
Are you good with that?
I'm good.
If you're good, I'm great.
Hugo, you're good?
Yeah, Hugo, you're good?
Yeah, good.
All right, you look good, Hugo.
You look good, you're lookinggood.
I took a shower this morning.
Okay.
You took a shower, that's goodfor you.
Holy mackerel.
Every month he takes a showerfor the Pete Heim show.
SPEAKER_01 (22:06):
Whether I need it or not.
Whether you need it.
Oh my god.
We appreciate that.
SPEAKER_03 (22:09):
Yeah, we do.
It's a small studio.
All right, that's it.
We're kicking Pete out of here.
He'll be back next month forsure.
And uh, we'll tell you all thatthere is to know about the real
estate market locally,nationally, globally, Mars, the
moon, who knows?
All right, you'll see.
See you next Thursday at 7 p.m.
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