July 10, 2025 • 28 mins
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The real estate market shows intriguing contrasts between national trends and local realities, with Berks County maintaining stability while national inventory hits milestones not seen since 2019.
• Berks County inventory remains steady at 419 active listings
• Local appreciation continues at 5% despite market changes
• National inventory topped 1 million homes for first time since 2019
• America faces significant housing deficit requiring 7.5 years to close
• First-time homebuyers now average nearly 40 years old
• Homeowner net worth ($396,500) drastically outpaces renter net worth ($10,400)
• 80% of sellers expect asking price or higher, yet 40% sell below asking
• Price properly from the start to avoid losing money in the long run
Listen to our show every Thursday at 7 PM for another NEW episode!!
#thebradweismanshow #housingmarket #peteheim #nationaltrends
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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 2 (00:00):
All right, here we go From real estate, the market as
a whole, which then sometimeswill affect the technology Right
, the real life.
We all learn in different ways.
If you think about it, wayneDyer might not attract everybody
and everything in between.
Speaker 1 (00:18):
The mission was really to help people just to
reach their full potential.
The Brad Wiseman Show and nowyour host.
Speaker 2 (00:25):
Brad Wiseman.
All right, hugo, hello, hello.
Does this thing work?
Is this thing on?
Speaker 1 (00:33):
Yes, I think so.
Speaker 2 (00:34):
Yes, it is on yeah, where's your hat today?
Speaker 1 (00:39):
Oh no, I didn't grab it today you didn't grab your
hat today.
Speaker 2 (00:41):
It was a nice hat you had on the other day, very nice
hat.
Was that because of the storms?
Speaker 1 (00:45):
Maybe, yeah, that's what I'm thinking.
Speaker 2 (00:47):
Yeah, that's what I thought.
So today's our real estate show.
We got Pete Heim here in thestudio with us and I want to say
hello, how you doing, buddy?
Hello Bradley.
There we go there he is.
How are you?
I'm good, I'm good.
Didn't know we were MrsDoubtfire, but okay, oh, great,
that was a compliment.
Yeah, yeah, great movie,actually Great movie.
But, leo, let's talk about somereal estate today.
(01:08):
Okay, man, I mean, this is ourreal estate show.
We do it once a month.
You come in once a month.
We talk about the real estateworld and it's so funny how
things are different nationallythan they are local.
Yeah, little bit about that,because I have some national
numbers.
Yeah, you have some local stuffand it's really interesting how
we're starting to feel a littlebit of the national stuff going
(01:29):
on, but we still have our ownberks county market yeah, this
is going to be a good show.
Speaker 1 (01:34):
Yeah, because it's, it's really it's starting to
start to see some changes andyeah, hopefully we're going to
get help some people withnothing, bad though it's, it's
just no, no it's healthy, it'shealth, it is healthy.
Speaker 2 (01:44):
Change, yeah, absolutely yeah, like getting
therapy kind of you know, makesure you get your microphone,
the only way.
I think you're a little far offon that microphone.
There you go, there you go here.
He's a little off, like usual,um.
So yeah, let's talk about alittle bit about this market, uh
, locally, and then we'll getinto some of the stuff that we
see in similarities and some ofthe stuff that's going on
nationally.
Speaker 1 (02:03):
That's cool, that's great, yeah, well, we're still
in that.
419 active listing just doesn'tmove does.
Speaker 2 (02:08):
It goes from 430 to 400 to 380 to I was so excited
when it got up to like it wasgetting close to 450.
Yeah, like I think it was likesix weeks ago or five weeks ago,
yeah, and I was so excited.
I'm like here it is, we'regonna break the 450 and it just
doesn't happen did it get it getto five or something?
Speaker 1 (02:24):
Yeah, I think that was.
Speaker 2 (02:25):
And you went berserk when the rates went down.
Yeah, I did go berserk.
I kind of lost.
Speaker 1 (02:29):
I lost all things all motions, everything, just
everything.
Speaker 2 (02:33):
Bodily fluids came out.
It was just crazy, it wasabsolutely crazy.
Speaker 1 (02:36):
It was a total mess.
Speaker 2 (02:37):
It we're good, and we're now at 419.
Speaker 1 (02:42):
419.
Yeah, about an hour ago.
So that's where we're at.
Speaker 2 (02:46):
It's all right.
Yeah, it's okay.
Better than 267 or 276 where wewere at a while ago.
The floor was around there.
It was bad.
Yeah, yeah, okay, so listingsare still hanging around.
It is that's good.
Speaker 1 (02:58):
That's good, but now that I was able to do the first
half of the year stats versuslast year, I think, because I
don't want to take it all theway back to like 19 or COVID or
something like that, becausethey were an anomaly Sure
However, these numbers that I'mlooking at are very similar.
They're just slightly off 2019.
Yeah, so that was right beforethe COVID thing and then.
(03:21):
But the market was starting toget a little crazy right before
COVID hit right yes, it was, andthen.
Speaker 2 (03:25):
But the market was starting to get a little crazy
right before COVID hit.
Speaker 1 (03:27):
And then it just carried forth and just got
nuttier, right, but so we'regetting back there.
So I don't, this is I don'tthis is going to mean much to
your general audience about howmany listings and stuff like
that, but just to give you acomparison, this year so far,
from January one to the end ofJune, we had 2,393 active
listings put on the market.
Speaker 2 (03:45):
What was it again?
2,393.
2,393.
So that's from January 1 toJune.
Those are people.
I'm putting my house on themarket.
That seems like a lot actually,but maybe it's not.
Speaker 1 (03:54):
No, no, and then last year at this time it was 2,361.
Okay, so we actually have whatis that?
32 more actually have.
Speaker 2 (04:07):
What is that?
Speaker 1 (04:07):
32 more okay, but that's 32 more people that got a
house, exactly, most likelyable to get a point to put a
little yeah, right, exactly theabsorption rate.
Everyone knows what that is.
This, you know we stop listing.
And how long does it take forthe inventory to go?
1.1 months, it's okay for both.
For both time periods, exactly,yeah, units sold is interesting
because this year so far thefirst six months was 1825, okay,
(04:28):
okay.
Last year this time it was 18and 1881 oh, wow so we're 60 ish
less homes that have sold, soit's going to play into what
you're going to say yes, yes, sothere we go.
Speaker 2 (04:40):
So remember that one, everybody, you got that we
brought more homes on, homes onand we took less homes off Boom.
Speaker 1 (04:47):
Yeah, okay, okay.
Speaker 2 (04:48):
Yep.
Speaker 1 (04:50):
Days on market's about the same.
It's 25 days this period.
Last period it was 24.
Speaker 2 (04:55):
But it is inching up.
It's an inch, it's an inch Aday, but it moves, it's going,
it's going in that direction andagain everybody.
Speaker 1 (05:01):
This is an average.
Speaker 2 (05:02):
Yeah, yeah, yeah.
Speaker 1 (05:03):
There's some that are on three, four months, yeah,
and there's some that areleaving the market a day or two.
So this is an average, yeah,okay, but the average sold price
, man Sure.
It's fallen right into the 5%,it's still gone.
We're at 311, just shy of $312.
First six months last year itwas uh 294.6.
Speaker 2 (05:23):
So still going on.
Is that five percent?
Somewhere in there, somewherethere?
Speaker 1 (05:27):
so that's that's where it's going up it's going
up and that's the appreciationrate so far this year.
Five percent, darn it.
Yeah, it's pretty, still prettygood.
Speaker 2 (05:34):
It'll be interesting to see what happens in the
second half of this year exactlywith with if, if inventory
keeps going in the upwardsdirection and we get less sales,
that is definitely going toaffect the rate of the
appreciation.
It will.
It will be, interesting to seewhere it goes now.
Yeah, if interest rates go down, that changes everything.
(05:57):
You've got that little thingthrown in.
Yep, that changes everything.
Because now, all of a sudden,then you have a more forability
Yep.
Then you probably have sellersthat are going to be putting
their house on the market thatweren't going to do it before,
and you have buyers, probably,that are coming in off the
sidelines, yep, and saying youknow what?
I'm back in the game, yep, youknow you will, and also refis
will happen.
(06:17):
Then too, we'll have refis,absolutely.
Speaker 1 (06:20):
Yeah, secured seven and seven and a quarter.
If it gets to six, they'reprobably going to do it yep,
absolutely, absolutely so cool.
Speaker 2 (06:25):
So what do you have?
Speaker 1 (06:26):
so I got I have other things later.
Speaker 2 (06:28):
Yeah, yeah, yeah, go ahead well let's look at some of
the national numbers, which ispretty interesting.
Um, yeah, hugo, if you want togo ahead and put that up there.
Um, if you're watching this onyoutube or watching the show
instead of just listening, wehave a graph up here and it says
inventory topped 1 million.
This is nationally.
For the first time since thewinter of 2019.
There is that.
There's that year there's thatyear right which we talk about,
(06:51):
a lot the 2019, which is rightbefore covid.
But things were starting to goin that direction before covid,
yeah.
And then covid kind of putsteroids into the situation.
Yeah, it did and it really tookoff.
But we now have topped 1million for the first time since
2019 so this is as an average,as as a national number, you can
(07:11):
see where we're going.
yep, you can see where we'regoing.
Obviously, locally, we're nottraveling near as fast as that,
we aren't?
It's just not not there, right?
Um, some of the other, uh,let's go into the next.
We're going to the next graphhere and and this is an
interesting one America'shousing deficit.
As you can see, since 2018, weare still way, way, way in a
(07:34):
deficit for housing.
Yeah, that was 2016.
Yeah, wow, yep, you can see here, since, um, since 2016, we've
been in a deficit and I think ifyou went back to 2008, you
would see a lot of deficit from2008 to even 2012.
Yeah, right, and then we had acouple years in between 2013,
2016 and 15.
We actually had some years.
(07:55):
We actually brought inventoryinto the 2016 and 15.
We actually had some years.
We actually brought inventoryinto the, into the market.
But you can see here, from 2018to now, we have been every year
.
We have been depleted of theamount of houses that we need.
Speaker 1 (08:06):
It's pretty crazy.
It is crazy.
That's 2016.
That said, right, yeah, 2016.
Yes, absolutely.
Speaker 2 (08:12):
Yeah, so pretty, pretty amazing.
It just shows you where we arenow.
What I'm starting to see, umand we were talking about this
before we went on is that I'mstarting to see pockets of the
national move.
Okay, so, nationally, you'reseeing a lot of stuff on Cree
keeping current matters.
You're seeing all kinds ofstuff on there that's saying you
know, sellers are overpricing,they're they're they're not
(08:34):
thinking about list price,they're thinking they're going
to get a higher sales price andall these different things.
We're starting to see pocketsof that in our local economy.
Speaker 1 (08:43):
Even within the same school district.
Even within the same schooldistrict like we talked about.
Speaker 2 (08:47):
Some of the school districts that typically
outperform the other schools areactually the ones I'm starting
to see it on and I think becausethe people in those districts
tend to think that their home isworth more.
Speaker 1 (09:02):
Yeah Right, you know what I'm saying.
They're in a great, so whatthey do is they're going.
Speaker 2 (09:05):
They're going more aggressive with the price and
they're saying, well, I'm, let'sjust say, wilson schools, I'm
Wilson schools, of course I'mgoing to, I'm going to get 10%
more than the last guy, you knowRight.
And then what they do is theyprice it there.
And then they're also thinking,when they price it there,
they're going to get even higherbecause of multiple offers.
Yep, it's not happening.
Nope, I'm seeing a lot in that500 to 600,000 dollar price
(09:27):
range a lot of price reductions.
Yeah, I believe it so if you'rea seller out there, be very
careful where you put your priceright now.
Speaker 1 (09:33):
Yeah, has to still be compelling, Like we talked
about last time.
Of course it has to be everymarket every single market.
Speaker 2 (09:39):
Yeah, you need to think about price.
No one's going to look at youExactly.
Yeah and condition.
Yeah and condition.
That's a big one too.
We didn't have to care aboutthe condition as much before,
right and.
I which is actually good.
Yeah, it's good.
I had to explain to a sellerrecently that you know, back in
the good old days, in 2019 and20, you know what I mean we did
(10:02):
inspections on every singleproperty and what I would tell a
seller, and I will tell aseller today.
It is also a good liabilityreduction for you.
You can walk away.
You can go where you're goingto go to the next house without
worrying about oh man, what ifsomething comes up and they come
after you for it, Even if youdidn't know about it.
If it's something you don't knowExactly.
(10:23):
So that's stuff that's changingtoo, that's good, good stuff,
man, that's really good.
And well, this is anotherinteresting one 2024 rate of
construction relative tohousehold formations and pent-up
demand.
It would take seven and a halfyears to close the housing gap
based on the production of homesin 2024 dude that was.
Speaker 1 (10:45):
Was that a kcm?
Yeah, dude, that's a greatseven and a half years.
Speaker 2 (10:48):
That's a really good, so if we built, at the 220, at
the 2024 rate, if we builthouses at that rate, it's gonna
take seven and a half years tobridge the gap.
Bridge gap.
Yeah, that's crazy.
Yeah it is.
It's going to take seven and ahalf years to bridge the gap.
Bridge the gap.
Yeah, that's crazy.
Yeah, it is crazy, it'sunbelievable.
I bet, we're worse here.
Speaker 1 (11:03):
Oh, we are way worse here.
I mean, there's very littleconstruction going on.
Speaker 2 (11:06):
Very new construction ?
Yeah, very little it's weirdTalking about construction.
Speaker 1 (11:09):
You know the big bill that just got passed in Senate,
the Trump, what do they call it?
Big, beautiful.
Speaker 2 (11:16):
Bill Big, beautiful Bill BBB I forget the name of it
.
Speaker 1 (11:19):
But in that bill, though, guys, they approved a
very small amount of federalland to be.
Now this isn't going to affectBerks County at all, but it's
Arizona, Wyoming, Utah, someCalifornia where they got
approval to sell.
I think it's 0.05% of federalland for builders to build
(11:43):
affordable housing, Affordablehousing, when they're going to
be a little closer, in proximityto each other.
They're not going to be spreadout on a lot of land.
It's going to be postage stamplots and all that.
High density but more affordableSingle homes.
Yeah, okay, what a great, great, great idea.
Because you're talking it'sabout, I forget what the how
many acres of debt turn out?
180 000 acres okay, that's Imean.
Speaker 2 (12:05):
I think it's 180 000 acres on a big, on a big scale.
Speaker 1 (12:08):
There's a one and an eight in there.
Speaker 2 (12:09):
Yeah, I think it's 180 000 yeah, it's not 1.8 and
it's not 18 000 no I think itwas 180,000 acres.
Speaker 1 (12:17):
That's substantial right now.
That's like a million homes.
Yeah, they, they did thecalculation and it would be
about a million homes.
Yeah, I think.
Speaker 2 (12:23):
I think that's a good idea, that's going to.
Speaker 1 (12:26):
That's going to affect that stat that you just
had up there about the uh, theuh, the seven and a half years
and the deficit yeah, absolutelyyeah, so it's going to help
well, it's not going to help uslocally here in berks county.
Speaker 2 (12:40):
But it could.
But it could.
It could because what canhappen is people could move to
another area, especially yourpeople that are that are looking
for like an over 55 or lookingfor something to downsize into
right.
If they find an affordableplace in a different state and
they're retired, they might go,which will then freeze up
inventory here for people thatare in our area here.
(13:01):
So it could do that.
Speaker 1 (13:03):
And this is the kind of land like we got at Blue
Marsh.
Yeah, you know this iswilderness kind of land.
This is land that is just outthere, no one goes to it, no
one's recreating at it, it'sjust federal land that they own,
yeah, and so it's like let'suse it, let's, let's absolutely
and they're going to sell it,which is going to help.
Speaker 2 (13:22):
Yeah, you know our deficit yeah, the country's
deficit, the bottom line of thecountry, it's definitely.
It's a good idea because it'ssuch a small percentage.
Speaker 1 (13:29):
So I would see, I would see both sides of the
aisle liking that because it'sgoing to help everybody.
Speaker 2 (13:33):
I think so too yeah, and I think those are the things
that need to work on.
I was in PAR, the PennsylvaniaAssociation of Realtors, and a
lot of the talk is aboutfirst-time buyers being able to
get houses, which is great.
We do want to help first-timebuyers.
We want to help anybody buy ahouse.
That's one part of an equation.
But the inventory issue doesnot get solved by making housing
(13:57):
more affordable.
That's right.
It it actually can can be anissue and create more of a
problem, because, as you'recreating buyers that can buy, or
you're allowing more people tobuy or enabling them to buy,
that then takes away frominventory, which then makes the
prices go up.
Speaker 1 (14:14):
That sounds like 1998 .
Yes, so so it took 10 years,yes, and it fell out 2008.
Speaker 2 (14:20):
So that's the thing.
Now, they're not looking to dothat kind of stuff, right?
No, they can't.
Speaker 1 (14:24):
They can't.
That's financing, but they'relooking to do some things to
help, you know, yeah.
Speaker 2 (14:28):
It's good, and the reason being is that the first
time, and now it's almost 40.
It was 38 last time we talkedabout it.
It's now almost 40.
So a first-time buyer, on anaverage, is now 40 years old.
You beat the odds there, hugo,think about it.
(14:48):
I mean you bought two years agoor whatever it was, and I don't
remember how old you are, but Iknow you're not 30.
Speaker 1 (14:54):
You're not 38.
How am I look like?
Well, you do.
Speaker 2 (15:00):
Yeah, I was going to say something.
He's weathering a little bit,yeah Well, he's in the
landscaping business, so yeah,that's how that happens.
Speaker 1 (15:06):
I don't think I want to talk about age.
Speaker 2 (15:08):
It's tough, it's tough, it's tough.
I saw your billboard you.
You want to talk about age.
All right, yeah, he has a youngbutton that he pushes for me on
the video.
Oh, yeah, oh yeah, but you knowthat's where was I going with
that, I forget.
Speaker 1 (15:28):
I don't know.
Speaker 2 (15:29):
I don't know either.
Let's go into the no, theaverage.
Speaker 1 (15:32):
The average, the average age.
Speaker 2 (15:35):
Thank you, I was like that was three thoughts ago,
him and I are like, ah, screw it, let's go on to the next topic.
Oh my God, that's funny.
Let's go have a beer.
Speaker 1 (15:42):
Yeah, exactly.
Speaker 2 (15:44):
So are we on a podcast?
Where are we anyway?
Speaker 1 (15:46):
Oh my gosh, I thought we were just having a
conversation.
Speaker 2 (15:48):
So it's interesting the age thing.
So the reason that we'rebringing it up's not that we
want to have everybody buy ahouse.
We want to be able to helppeople that if they really want
to buy a house they're qualified, they've got all the things
going but maybe need just alittle help.
Yeah, but that's what they'relooking to do.
(16:09):
But inventory it is funny howeverybody kind of avoids the
inventory as the crisis of thewhole thing.
I know.
It's totally and even when I wasin, you know, up up in PA, up
there at the Capitol, and youknow a lot of the the the talk
that we did with differentrepresentatives and they all had
great things to say about realestate and they're all very much
backing real estate.
But, you know, the conversationthat we brought up was getting
(16:35):
these townships and boroughs andmunicipalities.
But the state also needs towork on, you know, department of
environmental protection.
You know making.
You know if there's a turtle on60 acres, you know and we can't
build, that's a problem.
We have people that need tolive somewhere, you know.
So those are the thingsregulations that we need to get
rid of, some of that red tape.
Speaker 1 (16:54):
Absolutely Going back to the 40 year old buying a
house though you know, I want tobring up the reminder, the
reminder about rent versus buy.
Oh, good.
Okay, because um home priceappreciation from 1988 to today
140,000, uh, $140,000, house in88 is now worth 500,000.
Speaker 2 (17:13):
Oh, wow.
Speaker 1 (17:13):
Okay, and net worth of a of a renter is 10,000, four
10,.
A homeowner is three 96,500.
Yeah, All right.
And the rent increases from1988 to today was a $320 a month
.
Apartment is now almost 1,500.
That's crazy.
So that's why when you're arenter you need to get in in
your 20s.
Speaker 2 (17:34):
Yeah.
Speaker 1 (17:34):
All right To get in on this net worth thing.
Right, and stop wasting moneyon rent.
I mean, we're not going to bashrent.
Rent's always a good thing.
Sometimes you need it, yeah,and there's always a good
purpose for it Time of your life.
There's a time in your life but40 years old guys, I mean 40
years old is too old yeah it is.
It's too old.
You know, they say, startinvesting early and everything
(17:54):
Real estate's right there.
Real estate's a long timeinvestment, obviously.
1988 to today I'll do my maththat's uh, 12, uh, it's 37 years
, right is?
Speaker 2 (18:03):
that 37 years.
Yeah, yeah, so it's 37 yearstime.
Speaker 1 (18:08):
You gain that much equity right and you're worth
almost four hundred thousanddollars versus 10 yeah okay, yep
.
So I just wanted to go back tothat, because that kind of
related to absolutely that 40year old, and this is why this
is why we somehow have to get itto the point where younger
people can be buying homes again.
Speaker 2 (18:25):
They've got to get started.
Speaker 1 (18:27):
The hardest thing is to get started, but that's the
thing.
Speaker 2 (18:29):
The starting prices.
It is.
That's it.
Speaker 1 (18:31):
I know it's a double-edged sword.
Yeah, it is a double-edgedsword, but something's got to
get these people a chance.
Speaker 2 (18:38):
Absolutely.
So.
That's what they're working onon a national level and a state
level hoping to do that.
So let's go back a little bitmore into the seller thing and a
lot of this.
What I'm saying right now, guys, is kind of a premonition, like
if we're seeing pockets of whatis happening nationally, we
(18:58):
have to prepare for this locally.
We tend to be behind on allthese things.
We're behind on when it goes up, and usually we're behind on
when it levels off, and we'reusually behind on when it goes
down a little bit.
Now, the good thing is, becausewe're behind, we don't have the
peaks and valleys that some ofthese other markets have.
We have the Berks County wave.
We kind of just do this kind,just kind of glide in between,
(19:20):
okay, which is good becausewe're not a very volatile place,
okay.
So, but as as agents and, youknow, guiding sellers along the
way, there's some interestingnumbers coming out nationally
that that I was blown away with.
Eight and 10 potential homesellers think they will get
their asking price or more.
Eight and 10.
(19:40):
Okay, wow.
So, um, yeah, 35% say they'regoing to get more than they're
asking price, 46% think they'regoing to get full price and only
13% said they're going to getless than asking price.
So with yep and, with that beingsaid, four in 10 sellers sold
for less than they're asking forin 10, four in 10.
Speaker 1 (20:03):
So 40% sold.
Speaker 2 (20:05):
Something's a little off.
Speaker 1 (20:06):
It's a little off.
It's the attitude.
Yeah, yeah, so it's the media.
Speaker 2 (20:13):
Yeah, it is, and I and it's just I think it's
because it's been happening forso long yeah, yeah, I mean every
person you talk to.
If you go to a party and youtalk to somebody that sold their
house over the past five years,the conversation is oh my God,
I can't believe it.
I put it on a two 50, and gottwo 80.
I put it on a 300.
I got three, 30.
Speaker 1 (20:33):
That's the conversation.
Speaker 2 (20:35):
So now you go to sell your house and you're not
listening to our show.
That's a problem that's aproblem.
You need to listen to our show.
You're gonna get raw truth onthis show, no, but all of a
sudden they're taking the partyinfo that they got, yes, and
they put their house in themarket and they tell the realtor
.
Now I heard all my friends atthe party said I'm gonna get 30
over, yeah, or 10 over.
(20:55):
Well, you know the party's kindof over.
Yeah, the ship sailed, the shipsailed party.
Know the party's kind of over.
Yeah, the ship sailed.
The ship sailed, the party'sover the party ship, the
anchor's sinking.
I mean, what else do you wantus to say?
I don't know.
No, it's not doom and gloom.
It's just keep that in mind,because here's the thing If
you're aware of these changescoming, you will actually lose
less money.
(21:15):
Right, because if you don't seethese changes coming and you
put your house in the market 10%over, the reality is it comes
back to what you and I know Ifyou price it too high in the
beginning, what happens at theend?
Speaker 1 (21:27):
You get less than you would have ever gotten.
Speaker 2 (21:28):
Yep, Absolutely, Because if it stays in the
market more in this market staysin the market more than 30 days
, what's going to happen?
Speaker 1 (21:33):
Yep, Something wrong with the property right.
Something wrong with it?
Why didn't it sell?
Yep, and that's what happens.
Yep, and then you end upgetting less than you would have
gotten if you would have pricedit right yep, so those are the.
Those are things we have to goback to.
But on the other side of thatyeah, you probably saw that kcm
recently about some sellers arefeeling that there's, if they
put their house on the market,there's no one's going to buy it
(21:54):
.
Oh, wow, but because of the uh,the media, because no because
of the stats of no homes beingsold.
No homes are being sold becauseof what we just said inventory.
Speaker 2 (22:05):
Oh wow, it's an inventory issue.
Speaker 1 (22:06):
Right, yep, so I saw the KCM thing Nationally.
Now, everybody this isnationally.
This is not Berks County.
Yeah, there's eight homesselling every minute.
Wow, in the United States Nowthat's probably not as robust as
it was.
There were probably 30 homesbeing sold every minute back
then.
That's amazing.
(22:26):
But the point is don't hold offselling your house if you need
to thinking that no one's goingto buy it.
Yeah, okay, If you have aprofessional, come in and price
it properly with you, get thecondition going and everything
else it will sell.
I don't care what the pricerange is.
If it's priced properly, it'sgoing to go if you get the right
advice.
Yeah, okay.
Here's the thing, there arebuyers.
There are buyers looking andit's eight homes every minute
(22:49):
everybody.
Speaker 2 (22:50):
So, while we're on the show, we just lost how many
sales?
Yeah, exactly yeah.
Speaker 1 (22:54):
Hugo, what the heck we got to get this going.
Yeah yeah, we got to wrap thisup.
I didn't know it was that many.
Oh my gosh, look at the time, Ididn't know I missed that many
sales.
Speaker 2 (23:01):
Holy crap.
No.
Something else too, that I hada real conversation with a
couple sellers.
Remember you made your moneyalready.
Speaker 1 (23:11):
Yes.
Speaker 2 (23:12):
Okay.
What do you?
Speaker 1 (23:13):
say to the sellers now You're saying this You've
made your money already is.
Speaker 2 (23:17):
What I'm saying is that your money was made the
last four years.
Right, don't try to make itright now.
Right, you've already made.
So, even if you listed if yourhouse was worth four years ago,
it was worth 300 and now it'sworth 425.
Yeah, let's not worry about thefive or 10,000 that you were
hoping to make on top of whatyou already made.
Speaker 1 (23:38):
That's a good point.
Speaker 2 (23:38):
You made your $100,000.
Yeah, right, okay, so let'sthink about that.
Yeah, but what they think isthat they're losing money.
You're not losing money.
Speaker 1 (23:47):
You made so much.
You made money.
Speaker 2 (23:49):
You're going to just make a little bit less
appreciation, so that'ssomething I think is really
important.
Speaker 1 (23:55):
Do you remember we were pricing homes during COVID
and a little bit after that,where you had a comp that was
three months old we had to tackon appreciation?
Oh yeah, it was already an oldcomp.
Yeah, absolutely, because wehad to tack it on.
That's not happening.
No, that's not happening now.
That's not.
Speaker 2 (24:09):
It's not.
And they're saying you got tostart looking at the sales price
more and more.
What?
Speaker 1 (24:14):
was the sales price.
Speaker 2 (24:16):
What right you know, because that's really what's
important exactly reallyimportant.
Speaker 1 (24:19):
So it's just interesting, but just remember
that you made your money that'sa very good point.
But one last thing about thebig investors yeah, buying homes
oh, here we go we all know isnot the case.
okay, the bs, but the ones thatare.
Yeah, okay, six out of eightlarge institutional investors
sold more than bought in Q2 in2025.
(24:40):
Interesting, okay.
For every home that they bought, an investor sold 1.75.
Wow, okay, why?
Well, nationally, values aresoftening, so for these people,
it's just business.
They're not buying a house tobuild memories and have it raise
a family.
Speaker 2 (24:56):
What did we just say?
Speaker 1 (24:57):
They made their money already.
Thank you, and that's the pointI was.
Speaker 2 (25:02):
They're looking at it , they're looking at it strictly
as an investment yeah, so it'slike a stock right.
Yep, so they're looking at thegain of the $100,000 they made
over four years and they'regoing OK, it's time to let go.
Yep, time to let go.
And that fell right into thatpoint you just the thing that I
always bring up about that too.
Do you really think they hadthese houses just sitting there
vacant?
I know.
Speaker 1 (25:22):
No, they're renting housing, they're providing
housing.
It's not like you know what Imean, but they made their money.
Speaker 2 (25:27):
Housing is housing, whether it's renting or buying.
It's housing.
Yep, yep, it's putting somebodyhaving a roof over somebody's
head, exactly it's housing.
It's housing, it's Some of thatstuff cracks me up, is that?
Speaker 1 (25:37):
sleeping under the stars or anything.
What do you think?
Speaker 2 (25:39):
Hugo, any questions?
Yeah, if you've got questionsfor us.
No, I don't have any questionstoday.
Speaker 1 (25:43):
I was thinking about that beautiful, big whatever
bill, big, beautiful bill.
Speaker 2 (25:48):
Yeah, if it had anything that would affect the
industry.
Speaker 1 (25:51):
There's good real estate stuff in there.
It's going to come out.
Speaker 2 (25:54):
As a whole, the National Association of Realtors
and the PennsylvaniaAssociation of Realtors is
supporting the bill.
Speaker 1 (25:59):
Yeah, okay.
Speaker 2 (26:00):
As realtors, as an industry we're supporting the
bill.
Speaker 1 (26:02):
As far as the real estate community, yeah, yeah, at
the real estate community, it'sgoing to help yeah.
Speaker 2 (26:06):
It's going to help.
It's going to help buyers andsellers.
It's going to help with taxesthat buyers and sellers pay,
things like that, yeah, but Ithink that we're good.
Yeah, we had no clue what thehell we were going to talk about
.
That's right.
And here we are, and that'sactually when we do the best.
I think.
I think you're right.
Yeah, it usually is the best,and Hugo was just kind of
(26:27):
lounging through the whole show,do you?
Speaker 1 (26:28):
notice that.
Speaker 2 (26:41):
You just see him over here for joining us tonight
again, and thanks for checkingout pete and I again.
Every month we do a real estateshow and we hope you come back
every thursday at 7 pm to seethe show that we provide.
We're having fun.
Right, right, hugo, we'rehaving fun.
We are, that's right.
All right, that's about it.
We'll see you next thursday atseven o'clock.
All right, bye.
All right, here we go From real estate, the market as
a whole, which then sometimeswill affect the technology Right
, the real life.
We all learn in different ways.
If you think about it, wayneDyer might not attract everybody
and everything in between.
Speaker 1 (00:18):
The mission was really to help people just to
reach their full potential.
The Brad Wiseman Show and nowyour host.
Speaker 2 (00:25):
Brad Wiseman.
All right, hugo, hello, hello.
Does this thing work?
Is this thing on?
Speaker 1 (00:33):
Yes, I think so.
Speaker 2 (00:34):
Yes, it is on yeah, where's your hat today?
Speaker 1 (00:39):
Oh no, I didn't grab it today you didn't grab your
hat today.
Speaker 2 (00:41):
It was a nice hat you had on the other day, very nice
hat.
Was that because of the storms?
Speaker 1 (00:45):
Maybe, yeah, that's what I'm thinking.
Speaker 2 (00:47):
Yeah, that's what I thought.
So today's our real estate show.
We got Pete Heim here in thestudio with us and I want to say
hello, how you doing, buddy?
Hello Bradley.
There we go there he is.
How are you?
I'm good, I'm good.
Didn't know we were MrsDoubtfire, but okay, oh, great,
that was a compliment.
Yeah, yeah, great movie,actually Great movie.
But, leo, let's talk about somereal estate today.
(01:08):
Okay, man, I mean, this is ourreal estate show.
We do it once a month.
You come in once a month.
We talk about the real estateworld and it's so funny how
things are different nationallythan they are local.
Yeah, little bit about that,because I have some national
numbers.
Yeah, you have some local stuffand it's really interesting how
we're starting to feel a littlebit of the national stuff going
(01:29):
on, but we still have our ownberks county market yeah, this
is going to be a good show.
Speaker 1 (01:34):
Yeah, because it's, it's really it's starting to
start to see some changes andyeah, hopefully we're going to
get help some people withnothing, bad though it's, it's
just no, no it's healthy, it'shealth, it is healthy.
Speaker 2 (01:44):
Change, yeah, absolutely yeah, like getting
therapy kind of you know, makesure you get your microphone,
the only way.
I think you're a little far offon that microphone.
There you go, there you go here.
He's a little off, like usual,um.
So yeah, let's talk about alittle bit about this market, uh
, locally, and then we'll getinto some of the stuff that we
see in similarities and some ofthe stuff that's going on
nationally.
Speaker 1 (02:03):
That's cool, that's great, yeah, well, we're still
in that.
419 active listing just doesn'tmove does.
Speaker 2 (02:08):
It goes from 430 to 400 to 380 to I was so excited
when it got up to like it wasgetting close to 450.
Yeah, like I think it was likesix weeks ago or five weeks ago,
yeah, and I was so excited.
I'm like here it is, we'regonna break the 450 and it just
doesn't happen did it get it getto five or something?
Speaker 1 (02:24):
Yeah, I think that was.
Speaker 2 (02:25):
And you went berserk when the rates went down.
Yeah, I did go berserk.
I kind of lost.
Speaker 1 (02:29):
I lost all things all motions, everything, just
everything.
Speaker 2 (02:33):
Bodily fluids came out.
It was just crazy, it wasabsolutely crazy.
Speaker 1 (02:36):
It was a total mess.
Speaker 2 (02:37):
It we're good, and we're now at 419.
Speaker 1 (02:42):
419.
Yeah, about an hour ago.
So that's where we're at.
Speaker 2 (02:46):
It's all right.
Yeah, it's okay.
Better than 267 or 276 where wewere at a while ago.
The floor was around there.
It was bad.
Yeah, yeah, okay, so listingsare still hanging around.
It is that's good.
Speaker 1 (02:58):
That's good, but now that I was able to do the first
half of the year stats versuslast year, I think, because I
don't want to take it all theway back to like 19 or COVID or
something like that, becausethey were an anomaly Sure
However, these numbers that I'mlooking at are very similar.
They're just slightly off 2019.
Yeah, so that was right beforethe COVID thing and then.
(03:21):
But the market was starting toget a little crazy right before
COVID hit right yes, it was, andthen.
Speaker 2 (03:25):
But the market was starting to get a little crazy
right before COVID hit.
Speaker 1 (03:27):
And then it just carried forth and just got
nuttier, right, but so we'regetting back there.
So I don't, this is I don'tthis is going to mean much to
your general audience about howmany listings and stuff like
that, but just to give you acomparison, this year so far,
from January one to the end ofJune, we had 2,393 active
listings put on the market.
Speaker 2 (03:45):
What was it again?
2,393.
2,393.
So that's from January 1 toJune.
Those are people.
I'm putting my house on themarket.
That seems like a lot actually,but maybe it's not.
Speaker 1 (03:54):
No, no, and then last year at this time it was 2,361.
Okay, so we actually have whatis that?
32 more actually have.
Speaker 2 (04:07):
What is that?
Speaker 1 (04:07):
32 more okay, but that's 32 more people that got a
house, exactly, most likelyable to get a point to put a
little yeah, right, exactly theabsorption rate.
Everyone knows what that is.
This, you know we stop listing.
And how long does it take forthe inventory to go?
1.1 months, it's okay for both.
For both time periods, exactly,yeah, units sold is interesting
because this year so far thefirst six months was 1825, okay,
(04:28):
okay.
Last year this time it was 18and 1881 oh, wow so we're 60 ish
less homes that have sold, soit's going to play into what
you're going to say yes, yes, sothere we go.
Speaker 2 (04:40):
So remember that one, everybody, you got that we
brought more homes on, homes onand we took less homes off Boom.
Speaker 1 (04:47):
Yeah, okay, okay.
Speaker 2 (04:48):
Yep.
Speaker 1 (04:50):
Days on market's about the same.
It's 25 days this period.
Last period it was 24.
Speaker 2 (04:55):
But it is inching up.
It's an inch, it's an inch Aday, but it moves, it's going,
it's going in that direction andagain everybody.
Speaker 1 (05:01):
This is an average.
Speaker 2 (05:02):
Yeah, yeah, yeah.
Speaker 1 (05:03):
There's some that are on three, four months, yeah,
and there's some that areleaving the market a day or two.
So this is an average, yeah,okay, but the average sold price
, man Sure.
It's fallen right into the 5%,it's still gone.
We're at 311, just shy of $312.
First six months last year itwas uh 294.6.
Speaker 2 (05:23):
So still going on.
Is that five percent?
Somewhere in there, somewherethere?
Speaker 1 (05:27):
so that's that's where it's going up it's going
up and that's the appreciationrate so far this year.
Five percent, darn it.
Yeah, it's pretty, still prettygood.
Speaker 2 (05:34):
It'll be interesting to see what happens in the
second half of this year exactlywith with if, if inventory
keeps going in the upwardsdirection and we get less sales,
that is definitely going toaffect the rate of the
appreciation.
It will.
It will be, interesting to seewhere it goes now.
Yeah, if interest rates go down, that changes everything.
(05:57):
You've got that little thingthrown in.
Yep, that changes everything.
Because now, all of a sudden,then you have a more forability
Yep.
Then you probably have sellersthat are going to be putting
their house on the market thatweren't going to do it before,
and you have buyers, probably,that are coming in off the
sidelines, yep, and saying youknow what?
I'm back in the game, yep, youknow you will, and also refis
will happen.
(06:17):
Then too, we'll have refis,absolutely.
Speaker 1 (06:20):
Yeah, secured seven and seven and a quarter.
If it gets to six, they'reprobably going to do it yep,
absolutely, absolutely so cool.
Speaker 2 (06:25):
So what do you have?
Speaker 1 (06:26):
so I got I have other things later.
Speaker 2 (06:28):
Yeah, yeah, yeah, go ahead well let's look at some of
the national numbers, which ispretty interesting.
Um, yeah, hugo, if you want togo ahead and put that up there.
Um, if you're watching this onyoutube or watching the show
instead of just listening, wehave a graph up here and it says
inventory topped 1 million.
This is nationally.
For the first time since thewinter of 2019.
There is that.
There's that year there's thatyear right which we talk about,
(06:51):
a lot the 2019, which is rightbefore covid.
But things were starting to goin that direction before covid,
yeah.
And then covid kind of putsteroids into the situation.
Yeah, it did and it really tookoff.
But we now have topped 1million for the first time since
2019 so this is as an average,as as a national number, you can
(07:11):
see where we're going.
yep, you can see where we'regoing.
Obviously, locally, we're nottraveling near as fast as that,
we aren't?
It's just not not there, right?
Um, some of the other, uh,let's go into the next.
We're going to the next graphhere and and this is an
interesting one America'shousing deficit.
As you can see, since 2018, weare still way, way, way in a
(07:34):
deficit for housing.
Yeah, that was 2016.
Yeah, wow, yep, you can see here, since, um, since 2016, we've
been in a deficit and I think ifyou went back to 2008, you
would see a lot of deficit from2008 to even 2012.
Yeah, right, and then we had acouple years in between 2013,
2016 and 15.
We actually had some years.
(07:55):
We actually brought inventoryinto the 2016 and 15.
We actually had some years.
We actually brought inventoryinto the, into the market.
But you can see here, from 2018to now, we have been every year
.
We have been depleted of theamount of houses that we need.
Speaker 1 (08:06):
It's pretty crazy.
It is crazy.
That's 2016.
That said, right, yeah, 2016.
Yes, absolutely.
Speaker 2 (08:12):
Yeah, so pretty, pretty amazing.
It just shows you where we arenow.
What I'm starting to see, umand we were talking about this
before we went on is that I'mstarting to see pockets of the
national move.
Okay, so, nationally, you'reseeing a lot of stuff on Cree
keeping current matters.
You're seeing all kinds ofstuff on there that's saying you
know, sellers are overpricing,they're they're they're not
(08:34):
thinking about list price,they're thinking they're going
to get a higher sales price andall these different things.
We're starting to see pocketsof that in our local economy.
Speaker 1 (08:43):
Even within the same school district.
Even within the same schooldistrict like we talked about.
Speaker 2 (08:47):
Some of the school districts that typically
outperform the other schools areactually the ones I'm starting
to see it on and I think becausethe people in those districts
tend to think that their home isworth more.
Speaker 1 (09:02):
Yeah Right, you know what I'm saying.
They're in a great, so whatthey do is they're going.
Speaker 2 (09:05):
They're going more aggressive with the price and
they're saying, well, I'm, let'sjust say, wilson schools, I'm
Wilson schools, of course I'mgoing to, I'm going to get 10%
more than the last guy, you knowRight.
And then what they do is theyprice it there.
And then they're also thinking,when they price it there,
they're going to get even higherbecause of multiple offers.
Yep, it's not happening.
Nope, I'm seeing a lot in that500 to 600,000 dollar price
(09:27):
range a lot of price reductions.
Yeah, I believe it so if you'rea seller out there, be very
careful where you put your priceright now.
Speaker 1 (09:33):
Yeah, has to still be compelling, Like we talked
about last time.
Of course it has to be everymarket every single market.
Speaker 2 (09:39):
Yeah, you need to think about price.
No one's going to look at youExactly.
Yeah and condition.
Yeah and condition.
That's a big one too.
We didn't have to care aboutthe condition as much before,
right and.
I which is actually good.
Yeah, it's good.
I had to explain to a sellerrecently that you know, back in
the good old days, in 2019 and20, you know what I mean we did
(10:02):
inspections on every singleproperty and what I would tell a
seller, and I will tell aseller today.
It is also a good liabilityreduction for you.
You can walk away.
You can go where you're goingto go to the next house without
worrying about oh man, what ifsomething comes up and they come
after you for it, Even if youdidn't know about it.
If it's something you don't knowExactly.
(10:23):
So that's stuff that's changingtoo, that's good, good stuff,
man, that's really good.
And well, this is anotherinteresting one 2024 rate of
construction relative tohousehold formations and pent-up
demand.
It would take seven and a halfyears to close the housing gap
based on the production of homesin 2024 dude that was.
Speaker 1 (10:45):
Was that a kcm?
Yeah, dude, that's a greatseven and a half years.
Speaker 2 (10:48):
That's a really good, so if we built, at the 220, at
the 2024 rate, if we builthouses at that rate, it's gonna
take seven and a half years tobridge the gap.
Bridge gap.
Yeah, that's crazy.
Yeah it is.
It's going to take seven and ahalf years to bridge the gap.
Bridge the gap.
Yeah, that's crazy.
Yeah, it is crazy, it'sunbelievable.
I bet, we're worse here.
Speaker 1 (11:03):
Oh, we are way worse here.
I mean, there's very littleconstruction going on.
Speaker 2 (11:06):
Very new construction ?
Yeah, very little it's weirdTalking about construction.
Speaker 1 (11:09):
You know the big bill that just got passed in Senate,
the Trump, what do they call it?
Big, beautiful.
Speaker 2 (11:16):
Bill Big, beautiful Bill BBB I forget the name of it
.
Speaker 1 (11:19):
But in that bill, though, guys, they approved a
very small amount of federalland to be.
Now this isn't going to affectBerks County at all, but it's
Arizona, Wyoming, Utah, someCalifornia where they got
approval to sell.
I think it's 0.05% of federalland for builders to build
(11:43):
affordable housing, Affordablehousing, when they're going to
be a little closer, in proximityto each other.
They're not going to be spreadout on a lot of land.
It's going to be postage stamplots and all that.
High density but more affordableSingle homes.
Yeah, okay, what a great, great, great idea.
Because you're talking it'sabout, I forget what the how
many acres of debt turn out?
180 000 acres okay, that's Imean.
Speaker 2 (12:05):
I think it's 180 000 acres on a big, on a big scale.
Speaker 1 (12:08):
There's a one and an eight in there.
Speaker 2 (12:09):
Yeah, I think it's 180 000 yeah, it's not 1.8 and
it's not 18 000 no I think itwas 180,000 acres.
Speaker 1 (12:17):
That's substantial right now.
That's like a million homes.
Yeah, they, they did thecalculation and it would be
about a million homes.
Yeah, I think.
Speaker 2 (12:23):
I think that's a good idea, that's going to.
Speaker 1 (12:26):
That's going to affect that stat that you just
had up there about the uh, theuh, the seven and a half years
and the deficit yeah, absolutelyyeah, so it's going to help
well, it's not going to help uslocally here in berks county.
Speaker 2 (12:40):
But it could.
But it could.
It could because what canhappen is people could move to
another area, especially yourpeople that are that are looking
for like an over 55 or lookingfor something to downsize into
right.
If they find an affordableplace in a different state and
they're retired, they might go,which will then freeze up
inventory here for people thatare in our area here.
(13:01):
So it could do that.
Speaker 1 (13:03):
And this is the kind of land like we got at Blue
Marsh.
Yeah, you know this iswilderness kind of land.
This is land that is just outthere, no one goes to it, no
one's recreating at it, it'sjust federal land that they own,
yeah, and so it's like let'suse it, let's, let's absolutely
and they're going to sell it,which is going to help.
Speaker 2 (13:22):
Yeah, you know our deficit yeah, the country's
deficit, the bottom line of thecountry, it's definitely.
It's a good idea because it'ssuch a small percentage.
Speaker 1 (13:29):
So I would see, I would see both sides of the
aisle liking that because it'sgoing to help everybody.
Speaker 2 (13:33):
I think so too yeah, and I think those are the things
that need to work on.
I was in PAR, the PennsylvaniaAssociation of Realtors, and a
lot of the talk is aboutfirst-time buyers being able to
get houses, which is great.
We do want to help first-timebuyers.
We want to help anybody buy ahouse.
That's one part of an equation.
But the inventory issue doesnot get solved by making housing
(13:57):
more affordable.
That's right.
It it actually can can be anissue and create more of a
problem, because, as you'recreating buyers that can buy, or
you're allowing more people tobuy or enabling them to buy,
that then takes away frominventory, which then makes the
prices go up.
Speaker 1 (14:14):
That sounds like 1998 .
Yes, so so it took 10 years,yes, and it fell out 2008.
Speaker 2 (14:20):
So that's the thing.
Now, they're not looking to dothat kind of stuff, right?
No, they can't.
Speaker 1 (14:24):
They can't.
That's financing, but they'relooking to do some things to
help, you know, yeah.
Speaker 2 (14:28):
It's good, and the reason being is that the first
time, and now it's almost 40.
It was 38 last time we talkedabout it.
It's now almost 40.
So a first-time buyer, on anaverage, is now 40 years old.
You beat the odds there, hugo,think about it.
(14:48):
I mean you bought two years agoor whatever it was, and I don't
remember how old you are, but Iknow you're not 30.
Speaker 1 (14:54):
You're not 38.
How am I look like?
Well, you do.
Speaker 2 (15:00):
Yeah, I was going to say something.
He's weathering a little bit,yeah Well, he's in the
landscaping business, so yeah,that's how that happens.
Speaker 1 (15:06):
I don't think I want to talk about age.
Speaker 2 (15:08):
It's tough, it's tough, it's tough.
I saw your billboard you.
You want to talk about age.
All right, yeah, he has a youngbutton that he pushes for me on
the video.
Oh, yeah, oh yeah, but you knowthat's where was I going with
that, I forget.
Speaker 1 (15:28):
I don't know.
Speaker 2 (15:29):
I don't know either.
Let's go into the no, theaverage.
Speaker 1 (15:32):
The average, the average age.
Speaker 2 (15:35):
Thank you, I was like that was three thoughts ago,
him and I are like, ah, screw it, let's go on to the next topic.
Oh my God, that's funny.
Let's go have a beer.
Speaker 1 (15:42):
Yeah, exactly.
Speaker 2 (15:44):
So are we on a podcast?
Where are we anyway?
Speaker 1 (15:46):
Oh my gosh, I thought we were just having a
conversation.
Speaker 2 (15:48):
So it's interesting the age thing.
So the reason that we'rebringing it up's not that we
want to have everybody buy ahouse.
We want to be able to helppeople that if they really want
to buy a house they're qualified, they've got all the things
going but maybe need just alittle help.
Yeah, but that's what they'relooking to do.
(16:09):
But inventory it is funny howeverybody kind of avoids the
inventory as the crisis of thewhole thing.
I know.
It's totally and even when I wasin, you know, up up in PA, up
there at the Capitol, and youknow a lot of the the the talk
that we did with differentrepresentatives and they all had
great things to say about realestate and they're all very much
backing real estate.
But, you know, the conversationthat we brought up was getting
(16:35):
these townships and boroughs andmunicipalities.
But the state also needs towork on, you know, department of
environmental protection.
You know making.
You know if there's a turtle on60 acres, you know and we can't
build, that's a problem.
We have people that need tolive somewhere, you know.
So those are the thingsregulations that we need to get
rid of, some of that red tape.
Speaker 1 (16:54):
Absolutely Going back to the 40 year old buying a
house though you know, I want tobring up the reminder, the
reminder about rent versus buy.
Oh, good.
Okay, because um home priceappreciation from 1988 to today
140,000, uh, $140,000, house in88 is now worth 500,000.
Speaker 2 (17:13):
Oh, wow.
Speaker 1 (17:13):
Okay, and net worth of a of a renter is 10,000, four
10,.
A homeowner is three 96,500.
Yeah, All right.
And the rent increases from1988 to today was a $320 a month
.
Apartment is now almost 1,500.
That's crazy.
So that's why when you're arenter you need to get in in
your 20s.
Speaker 2 (17:34):
Yeah.
Speaker 1 (17:34):
All right To get in on this net worth thing.
Right, and stop wasting moneyon rent.
I mean, we're not going to bashrent.
Rent's always a good thing.
Sometimes you need it, yeah,and there's always a good
purpose for it Time of your life.
There's a time in your life but40 years old guys, I mean 40
years old is too old yeah it is.
It's too old.
You know, they say, startinvesting early and everything
(17:54):
Real estate's right there.
Real estate's a long timeinvestment, obviously.
1988 to today I'll do my maththat's uh, 12, uh, it's 37 years
, right is?
Speaker 2 (18:03):
that 37 years.
Yeah, yeah, so it's 37 yearstime.
Speaker 1 (18:08):
You gain that much equity right and you're worth
almost four hundred thousanddollars versus 10 yeah okay, yep
.
So I just wanted to go back tothat, because that kind of
related to absolutely that 40year old, and this is why this
is why we somehow have to get itto the point where younger
people can be buying homes again.
Speaker 2 (18:25):
They've got to get started.
Speaker 1 (18:27):
The hardest thing is to get started, but that's the
thing.
Speaker 2 (18:29):
The starting prices.
It is.
That's it.
Speaker 1 (18:31):
I know it's a double-edged sword.
Yeah, it is a double-edgedsword, but something's got to
get these people a chance.
Speaker 2 (18:38):
Absolutely.
So.
That's what they're working onon a national level and a state
level hoping to do that.
So let's go back a little bitmore into the seller thing and a
lot of this.
What I'm saying right now, guys, is kind of a premonition, like
if we're seeing pockets of whatis happening nationally, we
(18:58):
have to prepare for this locally.
We tend to be behind on allthese things.
We're behind on when it goes up, and usually we're behind on
when it levels off, and we'reusually behind on when it goes
down a little bit.
Now, the good thing is, becausewe're behind, we don't have the
peaks and valleys that some ofthese other markets have.
We have the Berks County wave.
We kind of just do this kind,just kind of glide in between,
(19:20):
okay, which is good becausewe're not a very volatile place,
okay.
So, but as as agents and, youknow, guiding sellers along the
way, there's some interestingnumbers coming out nationally
that that I was blown away with.
Eight and 10 potential homesellers think they will get
their asking price or more.
Eight and 10.
(19:40):
Okay, wow.
So, um, yeah, 35% say they'regoing to get more than they're
asking price, 46% think they'regoing to get full price and only
13% said they're going to getless than asking price.
So with yep and, with that beingsaid, four in 10 sellers sold
for less than they're asking forin 10, four in 10.
Speaker 1 (20:03):
So 40% sold.
Speaker 2 (20:05):
Something's a little off.
Speaker 1 (20:06):
It's a little off.
It's the attitude.
Yeah, yeah, so it's the media.
Speaker 2 (20:13):
Yeah, it is, and I and it's just I think it's
because it's been happening forso long yeah, yeah, I mean every
person you talk to.
If you go to a party and youtalk to somebody that sold their
house over the past five years,the conversation is oh my God,
I can't believe it.
I put it on a two 50, and gottwo 80.
I put it on a 300.
I got three, 30.
Speaker 1 (20:33):
That's the conversation.
Speaker 2 (20:35):
So now you go to sell your house and you're not
listening to our show.
That's a problem that's aproblem.
You need to listen to our show.
You're gonna get raw truth onthis show, no, but all of a
sudden they're taking the partyinfo that they got, yes, and
they put their house in themarket and they tell the realtor
.
Now I heard all my friends atthe party said I'm gonna get 30
over, yeah, or 10 over.
(20:55):
Well, you know the party's kindof over.
Yeah, the ship sailed, the shipsailed party.
Know the party's kind of over.
Yeah, the ship sailed.
The ship sailed, the party'sover the party ship, the
anchor's sinking.
I mean, what else do you wantus to say?
I don't know.
No, it's not doom and gloom.
It's just keep that in mind,because here's the thing If
you're aware of these changescoming, you will actually lose
less money.
(21:15):
Right, because if you don't seethese changes coming and you
put your house in the market 10%over, the reality is it comes
back to what you and I know Ifyou price it too high in the
beginning, what happens at theend?
Speaker 1 (21:27):
You get less than you would have ever gotten.
Speaker 2 (21:28):
Yep, Absolutely, Because if it stays in the
market more in this market staysin the market more than 30 days
, what's going to happen?
Speaker 1 (21:33):
Yep, Something wrong with the property right.
Something wrong with it?
Why didn't it sell?
Yep, and that's what happens.
Yep, and then you end upgetting less than you would have
gotten if you would have pricedit right yep, so those are the.
Those are things we have to goback to.
But on the other side of thatyeah, you probably saw that kcm
recently about some sellers arefeeling that there's, if they
put their house on the market,there's no one's going to buy it
(21:54):
.
Oh, wow, but because of the uh,the media, because no because
of the stats of no homes beingsold.
No homes are being sold becauseof what we just said inventory.
Speaker 2 (22:05):
Oh wow, it's an inventory issue.
Speaker 1 (22:06):
Right, yep, so I saw the KCM thing Nationally.
Now, everybody this isnationally.
This is not Berks County.
Yeah, there's eight homesselling every minute.
Wow, in the United States Nowthat's probably not as robust as
it was.
There were probably 30 homesbeing sold every minute back
then.
That's amazing.
(22:26):
But the point is don't hold offselling your house if you need
to thinking that no one's goingto buy it.
Yeah, okay, If you have aprofessional, come in and price
it properly with you, get thecondition going and everything
else it will sell.
I don't care what the pricerange is.
If it's priced properly, it'sgoing to go if you get the right
advice.
Yeah, okay.
Here's the thing, there arebuyers.
There are buyers looking andit's eight homes every minute
(22:49):
everybody.
Speaker 2 (22:50):
So, while we're on the show, we just lost how many
sales?
Yeah, exactly yeah.
Speaker 1 (22:54):
Hugo, what the heck we got to get this going.
Yeah yeah, we got to wrap thisup.
I didn't know it was that many.
Oh my gosh, look at the time, Ididn't know I missed that many
sales.
Speaker 2 (23:01):
Holy crap.
No.
Something else too, that I hada real conversation with a
couple sellers.
Remember you made your moneyalready.
Speaker 1 (23:11):
Yes.
Speaker 2 (23:12):
Okay.
What do you?
Speaker 1 (23:13):
say to the sellers now You're saying this You've
made your money already is.
Speaker 2 (23:17):
What I'm saying is that your money was made the
last four years.
Right, don't try to make itright now.
Right, you've already made.
So, even if you listed if yourhouse was worth four years ago,
it was worth 300 and now it'sworth 425.
Yeah, let's not worry about thefive or 10,000 that you were
hoping to make on top of whatyou already made.
Speaker 1 (23:38):
That's a good point.
Speaker 2 (23:38):
You made your $100,000.
Yeah, right, okay, so let'sthink about that.
Yeah, but what they think isthat they're losing money.
You're not losing money.
Speaker 1 (23:47):
You made so much.
You made money.
Speaker 2 (23:49):
You're going to just make a little bit less
appreciation, so that'ssomething I think is really
important.
Speaker 1 (23:55):
Do you remember we were pricing homes during COVID
and a little bit after that,where you had a comp that was
three months old we had to tackon appreciation?
Oh yeah, it was already an oldcomp.
Yeah, absolutely, because wehad to tack it on.
That's not happening.
No, that's not happening now.
That's not.
Speaker 2 (24:09):
It's not.
And they're saying you got tostart looking at the sales price
more and more.
What?
Speaker 1 (24:14):
was the sales price.
Speaker 2 (24:16):
What right you know, because that's really what's
important exactly reallyimportant.
Speaker 1 (24:19):
So it's just interesting, but just remember
that you made your money that'sa very good point.
But one last thing about thebig investors yeah, buying homes
oh, here we go we all know isnot the case.
okay, the bs, but the ones thatare.
Yeah, okay, six out of eightlarge institutional investors
sold more than bought in Q2 in2025.
(24:40):
Interesting, okay.
For every home that they bought, an investor sold 1.75.
Wow, okay, why?
Well, nationally, values aresoftening, so for these people,
it's just business.
They're not buying a house tobuild memories and have it raise
a family.
Speaker 2 (24:56):
What did we just say?
Speaker 1 (24:57):
They made their money already.
Thank you, and that's the pointI was.
Speaker 2 (25:02):
They're looking at it , they're looking at it strictly
as an investment yeah, so it'slike a stock right.
Yep, so they're looking at thegain of the $100,000 they made
over four years and they'regoing OK, it's time to let go.
Yep, time to let go.
And that fell right into thatpoint you just the thing that I
always bring up about that too.
Do you really think they hadthese houses just sitting there
vacant?
I know.
Speaker 1 (25:22):
No, they're renting housing, they're providing
housing.
It's not like you know what Imean, but they made their money.
Speaker 2 (25:27):
Housing is housing, whether it's renting or buying.
It's housing.
Yep, yep, it's putting somebodyhaving a roof over somebody's
head, exactly it's housing.
It's housing, it's Some of thatstuff cracks me up, is that?
Speaker 1 (25:37):
sleeping under the stars or anything.
What do you think?
Speaker 2 (25:39):
Hugo, any questions?
Yeah, if you've got questionsfor us.
No, I don't have any questionstoday.
Speaker 1 (25:43):
I was thinking about that beautiful, big whatever
bill, big, beautiful bill.
Speaker 2 (25:48):
Yeah, if it had anything that would affect the
industry.
Speaker 1 (25:51):
There's good real estate stuff in there.
It's going to come out.
Speaker 2 (25:54):
As a whole, the National Association of Realtors
and the PennsylvaniaAssociation of Realtors is
supporting the bill.
Speaker 1 (25:59):
Yeah, okay.
Speaker 2 (26:00):
As realtors, as an industry we're supporting the
bill.
Speaker 1 (26:02):
As far as the real estate community, yeah, yeah, at
the real estate community, it'sgoing to help yeah.
Speaker 2 (26:06):
It's going to help.
It's going to help buyers andsellers.
It's going to help with taxesthat buyers and sellers pay,
things like that, yeah, but Ithink that we're good.
Yeah, we had no clue what thehell we were going to talk about
.
That's right.
And here we are, and that'sactually when we do the best.
I think.
I think you're right.
Yeah, it usually is the best,and Hugo was just kind of
(26:27):
lounging through the whole show,do you?
Speaker 1 (26:28):
notice that.
Speaker 2 (26:41):
You just see him over here for joining us tonight
again, and thanks for checkingout pete and I again.
Every month we do a real estateshow and we hope you come back
every thursday at 7 pm to seethe show that we provide.
We're having fun.
Right, right, hugo, we'rehaving fun.
We are, that's right.
All right, that's about it.
We'll see you next thursday atseven o'clock.
All right, bye.
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