August 14, 2025 • 24 mins
Hi This is Brad Weisman - Click Here to Send Me a Text Message
We analyze the current real estate market conditions in locally and nationally, separating media hype from reality while examining foreclosure rates, price appreciation, and interest rate predictions.
• Berks County currently has 446 homes on the market, showing stability in the mid-four hundreds
• Foreclosure rates are up 7% nationally but represent only 1 in 758 homes compared to 1 in 45 during the 2008 crash
• National housing appreciation predictions average 1.6% for remainder of 2025, while Berks County is experiencing 5.4% appreciation
• Interest rates are stabilizing in the 6.4-6.6% range with little expectation of significant decreases
• Home prices are up 55% nationally compared to five years ago, with current market adjustments averaging only 3.5% downward in some regions
• The "five-year rule" suggests homebuyers will typically come out ahead if they hold property for five years regardless of market timing
• Tax exemptions on primary residence sales ($250,000 for singles, $500,000 for married couples) may be increased to reflect significant home appreciation
• Experts recommend focusing on personal housing needs rather than attempting to time the market
If you're thinking about buying or selling, don't make decisions based on headlines. Work with a real estate professional who understands the local market conditions and can help you navigate the current environment based on your personal situation.
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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 1 (00:03):
from real estate affects the market as a whole,
which then sometimes will affectthe right.
You know the real life.
We all learn in different ways.
If you think about it, waynedyer might not attract everybody
, and everything in betweenmission was really to help
people just to reach their fullpotential.
Speaker 2 (00:21):
The brad weisman and now your host.
Speaker 1 (00:25):
Brad Wiseman.
All right, we're back, hugo.
You're back too, aren't you?
I am, I am, oh there, he is.
There he is.
Say hi, this is nice.
We now have a Hugo cam, and itis very, very cool.
It allows us to see the beautyof the Hugo that is on the show.
Speaker 2 (00:46):
That's right, there he is.
That's right there he is.
Speaker 1 (00:48):
There he is Good-looking guy yeah, look at
him.
I mean come on.
Yeah, that's right.
So we're back.
And we're back because we havea real estate show going on.
Yes, we do.
That's today, today for joiningus, by the way, every thursday
(01:11):
at 7 pm and also thanks for our.
We have some sponsors.
First response contracting johnsellers 484-256-7136.
We also have comfort pro.
They do a great job withanything hvac, hvac, hvac,
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Thanks so much for theirsupport because it really helps
out with the show, right, hugo?
Speaker 3 (01:26):
That's right, that's right, that's right.
Speaker 1 (01:28):
He has no idea.
So no Pete's here today.
Pete, thanks for coming inagain tonight.
Appreciate it.
Speaker 2 (01:35):
Thanks for having me, mr Wise man.
Yeah, wise man.
Speaker 1 (01:37):
Always good to see you, always good to talk about
real estate.
Let's, um, you know let's.
Let's just start off.
How many houses on the markethere in berks county?
Speaker 2 (01:44):
well, there was 446 about an hour ago.
Speaker 1 (01:47):
Okay, so we're staying up there we're staying
in that mid-four range.
This is good, better than 250.
It is better than 250 and butyou know, what I love is the
consistency of it.
Yeah, the consistency.
And actually it's not uncommonnationally.
All those numbers are up, right, all the numbers are up
nationally, right, all thenumbers are up nationally.
Speaker 2 (02:05):
And we're kind of, we're just kind of and it's
higher nationally.
Speaker 1 (02:08):
Oh, a lot higher.
Speaker 2 (02:08):
A lot higher.
Yeah, a lot higher.
Average-wise it's way higher.
Speaker 1 (02:12):
Yeah, it's interesting and some of the
information we have is going tokind of show where things are.
And we're midway through theyear.
Yeah, we're past midway throughthe year, that's true.
And that means that now thepredictions of what we see or
what we're looking at, all thepredictions are what's it going
(02:33):
to be to the end of 2025?
What's 2026 going to look likeright, get out your eight ball.
Yeah, hey, we have one here.
Let's see what's 2025 end ofyear going to look like it's not
good, it's not good, not good.
8-ball is not happy about it.
I'm not even going to say whatI said.
I'm not even going to say it.
It could be because I can't seeit, because I have my glasses
(02:56):
on, but we're going to just sayI'm not going to say it.
Yeah, no, we don't need thosecokes, we don't need those.
Yeah, so no.
But there's a lot of things.
I'm going to bring up one thingthat I thought was interesting
right off the bat, and it waslet's talk about.
We always talk about the fearof foreclosure.
Yeah, Because that is alwayswhat comes into play as soon as
the market starts to turn.
You know, ever since 2008happened, we have to always say
(03:20):
hey, guys, we're okay, we'reokay.
It's almost like the communitysays if we would have never sent
a man to the moon, we wouldhave nothing to compare it to.
That's right.
Yeah, because we always say wecan send a man to the moon, but
we can't make tape.
That works, you know what Imean.
It's the same thing.
If we didn't have 2008, wewould never have anything to
compare it to Exactly.
(03:40):
It's the man on the moon thing.
It is the man on the moon, it'sthe trip to the moon.
So our moon days were 2008.
But what I thought wasinteresting was everybody's
crying about those numbers.
I want you to tell me yourstats first, and then I'm going
to give you some other numbers.
That makes it hit home.
Speaker 2 (03:54):
Well, the headlines are always making points.
Speaker 1 (03:56):
No pun intended with it.
That's funny.
Yeah, that's pretty good, justflew in there yeah.
Speaker 2 (04:01):
Okay, so foreclosure starts are up 7% in the first
six months of this year.
7%, okay, they're up 7% Of avery small number.
Yeah, okay, but zooming outshows that's nowhere near crisis
level.
Okay, it's 0.13% of homes 0.13%, 0.13%, okay.
Even though that's an uptick,it was way less than that during
(04:25):
the COVID thing, theforbearance program and all that
.
It was way, way down.
Speaker 1 (04:31):
You couldn't foreclose.
Speaker 2 (04:32):
Exactly During COVID.
Speaker 1 (04:33):
You couldn't Even if I wanted to Nope, They'd be like
no, sir, we're not going to letyou foreclose.
That's right, unless we swabyour nose.
If we swab your nose and youhave COVID, you don't have to
pay a damn thing.
Speaker 2 (04:45):
That's exactly right.
Speaker 1 (04:47):
Could you imagine what a program.
Speaker 2 (04:48):
Imagine that now Swab my nose, swab my nose, swab my
nose.
Speaker 1 (04:52):
I don't want to pay for my mortgage Go ahead.
Speaker 2 (04:55):
But the point is, brad, it's always going to go up
from that.
Yeah, it's always going to comeup because, because it's
because you can foreclose now,yeah, if you want, so point
point one three percent of allhomes?
Yeah, I don't think that's aproblem I don't think that's a
problem okay, yeah, so we arenot even close to crisis level.
Speaker 1 (05:14):
Pennsylvania was 0.12 yeah, so let's put that into
terms that even make more sense.
Okay, so it says here from uhdata that's out there and
available is the first half of2025 was one in every 758 homes
nationwide had a foreclosurefiling.
Speaker 2 (05:31):
That's the stat.
Speaker 1 (05:32):
This is the one that is interesting.
In 2010, during the crash,mortgage News Daily says it was
one in every 45 homes.
That means you knew somebody.
You knew somebody that wasforeclosing A couple problems.
You know what I mean.
In Berks County, you knewsomebody was foreclosing Brad.
(05:53):
Do you remember?
Speaker 2 (05:54):
It's crazy.
Do you remember the quality ofthe home that was under
foreclosure?
Yeah, do you remember walkinginto a home that was in perfect
condition Normally?
Before that it was, oh my God,foreclosures.
Speaker 1 (06:07):
Yeah, there was dog poop on the floor, maybe cat
poop, maybe both.
Maybe both depends what you'reinto.
Dead cats yeah, dead cats werethere too, humans.
Speaker 2 (06:18):
I mean, it was really .
We are not against cats, no, no, no, we like cats, no, but no,
I can remember people just threwtheir keys on the counter and
just let their house go toforeclosure.
Yeah, because they didn't haveany.
It was they couldn't pay.
They couldn't pay, yeah, no, soit's but that really was
amazing.
Speaker 1 (06:29):
One in 758 now Yep, as opposed to one in 45.
That's unbelievable.
Speaker 2 (06:35):
So that's folks.
That really puts it intoperspective Exactly.
Speaker 1 (06:39):
So we're good, yet no foreclosures, hugo.
Nope, that's right, you're notforeclosing.
Everybody's good, nope.
Speaker 2 (06:44):
Nope, and that's again.
That's a national statistic.
Yeah, here locally we're alittle bit better than that.
Speaker 1 (06:50):
And also, if you are thinking about foreclosing just
because you lost your job orwhatever, please talk to a
realtor.
Don't just throw the keys onthe counter and walk away.
There's value there, you know.
If you can't afford the house,at least grab the equity you
deserve.
You know what I mean and thenget an apartment or live with a
(07:13):
friend.
Yeah, live with hugo.
I mean, no, he's, he's, allhe's.
That that ends full that ends.
Speaker 2 (07:17):
His realtor knows he has less kids than you, though
he has less kids than you, buthe's almost there, but his
realtor knows the house verywell.
Speaker 1 (07:23):
That's a nice house and you should see what he did
to it too unbelievable.
I want to move in, yeah he hebefore you couldn't see the
house because all the trees andlandscaping, landscaping um was
there.
Now you can actually see thehouse vegetation, yeah,
vegetation jungle, yeah, so whatother stats do you have?
Speaker 2 (07:42):
well, I would.
Just, we were looking at the,the latest kcm thing that came
out, I think it was actuallyeven today um, the housing
market forecast for the rest of2025.
Yeah, yeah, go, yeah, go ahead.
Right, and you know, the bigthing is everyone's saying in
fact, I've even talked to some--oh, is this the one that has?
Speaker 1 (07:56):
everybody has a different guess.
Yes, yes, yes, this is great.
I love it.
It's great, oh.
Speaker 2 (07:59):
I love these.
These are so great because theyare always wrong.
Speaker 1 (08:11):
They are Zillow and Redfin are predicting the worst
case scenario I know.
Now, do they know they're inreal estate business?
Yeah Well, they're the third.
That's what?
Yeah.
Speaker 2 (08:21):
I mean, I don't think they know and you got to
understand this is their guess.
No, they're into selling leadsfor us business.
Speaker 1 (08:26):
Even if your guess sucks, don't tell everybody.
Your guess sucks Exactly,Especially if you're in the real
estate business.
If I thought the market wasgoing to go to shit in 2025, do
you really think I'm going totell my customers?
Speaker 2 (08:40):
oh man, it's going to go to shit.
It's going to go to shit.
Yeah, exactly.
Unless you absolutelypositively knew Exactly, this is
a prediction so don't yeah,that's unbelievable.
Speaker 1 (08:49):
It Prediction so don't yeah, that's unbelievable,
it's unreal, guys.
But then there's a lot of goodpredictions, A lot of good ones.
Speaker 2 (08:53):
Yeah, well, the highest one's Fannie Mae.
Yeah, and you know what that'sthe secondary mortgage markets.
They're feeling verycomfortable and good about the
real estate market and Iactually believe that one more
so.
That one, because they havemore analysts.
Speaker 1 (09:05):
They have more people that know finances.
Yeah, you know what I mean.
I trust that.
Speaker 2 (09:09):
I mean you got the lenders HPES, Wells Fargo, mba.
Speaker 1 (09:12):
So what's the?
Speaker 2 (09:13):
average.
The average is 1.6.
Appreciation yeah, I think it'smore.
I think it's going to be more.
Speaker 1 (09:18):
Well, you got to remember that's an average of
the nation.
I think we might be more.
Speaker 2 (09:23):
We're at 5.4 right now.
Speaker 1 (09:24):
Yeah.
Speaker 2 (09:33):
I think that are at 5.4% appreciation so far this
year.
Still great, yeah, it's amazing.
So the nation is 1.6 folks.
If you're around the BerksCounty area, lancaster, you know
all that.
You are in a great spot becauseyour equity is, you know, your
appreciations in the fives.
Speaker 1 (09:41):
Yep, and you remember , last month I made the comment
about you know, making sure, asa seller, that you're not going
to be stingy not stingy butgreedy, whatever you want to
call it.
Yeah, that you made your moneyover the last five to six years,
don't let's not worry about thelast month or two months.
Speaker 2 (09:57):
Okay, Well, if you've owned your house over the last
five, six, seven years, you guys, you guys what I meant by that
data from the federal housingfinance agency, fhfa, shows
prices are up 55% nationallycompared to just five years ago.
Speaker 1 (10:11):
So if your house is up 55% over the past five years,
if it drops by two or 3% overthe next couple of months, let's
not, let's not get crazy aboutit.
Speaker 2 (10:21):
I mean 50%.
You made your money already.
Speaker 1 (10:24):
You made a good amount of money.
You've made it, and not thathow much money is too much?
Well, I always think you wantto make as much as you can.
I too much?
Well, I always think you wantto make as much as you can.
I'm not one of those that's.
I'm a capitalist, you know.
Make as much as you can, butalso be realistic and evil yeah,
evil capitalist.
Yes, we should have evil music.
Speaker 3 (10:40):
I don't know if I have any evil music.
Yeah, yeah, there you go yeah,but they're not.
Speaker 2 (10:44):
the point is, of all that's not crashing, no, no, and
and I've.
I was starting to say I think,and I think we got off.
I've even spoken to somerealtors recently People if I
mentioned their name, you wouldbe shocked that think that this
thing is going to come down,it's going to crash.
It has to level out, right?
(11:04):
Listen, guys, unless it goes to3,000, 4,000 homes on the
market.
Speaker 1 (11:09):
It's supply and demand Period.
It's not going to happen.
Speaker 2 (11:12):
I mean it's all inventory, it's all supply and
demand.
100%.
We're not building anythingright now.
That's significant in numbers.
This is not going to changehere in Berks County.
Speaker 1 (11:24):
I'm talking Berks County now.
Speaker 2 (11:25):
Florida's already done it.
They're always changing andsome of the short points they're
already experiencing it but ischanging and some some of the
short points.
They're already experiencing it, but texas, arizona, the sky is
not falling.
Speaker 1 (11:34):
I mean this here locally we're good right, but
this media just really and themedia is more national than they
are local, so and we reallydon't have anybody on a local
level, probably besides us,right uh, telling what's going
on in the berks county realestate that's correct you're not
going to get it on any localnews.
No, they don't.
They don't really get into that.
You know they, they talk, eventhey talk about the national
(11:55):
numbers more so than local yeah,they do yeah so, um, yeah, it's
interesting well, did you seetheir interest rate?
Speaker 2 (12:01):
um prediction yeah, change yeah yeah, I know.
Speaker 1 (12:05):
So I love how these guys work.
This is what we predict for2025.
This is gospel.
This is what's going to happen.
Take our word for it.
All right, forget what we saidin January.
We were serious this time, in.
Speaker 2 (12:20):
July.
We're serious.
We're serious Now we know whatwe're talking about.
Now we're serious.
Speaker 1 (12:24):
Now we're good, we got these numbers down.
Oh my God, then the end of 2025.
Well, we were a little off.
Speaker 2 (12:34):
Oh my gosh, it's funny.
All right, so basically whatthis means, it's stable, yeah it
is.
So the rates are stable.
They're not increasing, orreally.
If you see a decrease, it'sgoing to be extremely small.
Yeah, the average is in the sixand a half range from 6.4 to
6.6,.
Right, get used to 6.6.
(12:54):
Right, so I get used to sixit's in the sixes, it's going to
stay in the sixes.
The three percent honeymoon isover, folks.
It's not going to happen, so uhget used to six.
Speaker 1 (13:00):
I mean that's where it's at.
I mean hugo doesn't want tohear that because he wants to
refinance what are you at.
Speaker 3 (13:05):
I'm at seven and a half seven.
Speaker 1 (13:07):
Oh well, you know that, like we talked, about your
realtor.
Speaker 2 (13:10):
Couldn't get you a better rate than that I'd fire
that guy man.
Speaker 1 (13:14):
I don't know I'd block that number.
Oh man, he has to see me everyweek.
He can't get rid of me.
He's like yeah, I got this damnpodcast.
I got to go in and act like Ilike him.
You're a good actor, You're avery good actor.
Speaker 3 (13:33):
You should get into acting.
I should move into acting,right.
Speaker 1 (13:35):
Yeah, you should, you should.
Speaker 3 (13:37):
All right, so let's move on.
What?
Speaker 1 (13:39):
else you got there Anything else, what else?
You got Well.
Hugo had a question.
Why don't we go through that?
Yeah, let's talk about that.
Speaker 3 (13:47):
I saw this, let's this image on the internet that
said it was a realtor postingsaying now I find myself having
to buy a washer and a dryer formy I think for a buyer, because
the seller included it in thecontract but not in the listing.
But I didn't know what thatmeant.
Speaker 1 (14:09):
But I think what it was is.
The gist of it was this, Ithink, when he told us before we
went on Was if you have alisting agreement and it says no
washer and dryers included, theseller says no, no, don't want
it included.
Okay, An agreement gets writtenand the buyer's agent puts in
that it's included and nobodycatches it.
(14:31):
Ie, the listing agent doesn'tcatch it and has his seller sign
that agreement of sale.
The agreement of sale is what'sgospel, not the listing
agreement.
So somebody owes that buyer awasher and dryer.
That's right.
And most of the time what'sgoing to happen is the finger is
going to get pointed at therealtor for the seller and
(14:51):
somebody is paying for a washerand dryer.
Most likely, I think that'swhat it was.
Speaker 3 (14:54):
Yeah, yeah, Isn't that?
I think that's what it was.
Yeah, yeah, so he says I'mabout to buy a washer and a
dryer for a buyer, because Ididn't catch that that they
included it on the contract formy seller, yet it was not
included in the listing.
Yeah, so he was the listingagent.
Yeah Well.
Speaker 2 (15:08):
I mean, I have a comment about that.
Go ahead make the comment therealtor's signature isn't on the
agreement of sale.
So we have a buyer and a sellerwho agreed on an agreement of
sale and you're supposed to Imean, as a realtor, you're
supposed to point out thesethings though, all the things
that are on the agreement.
(15:29):
So it got missed somehow.
But bottom line is the selleragreed to it with a signature on
the agreement of sale, thebuyer agreed to what was on the
agreement of sale andtechnically it's the sellers.
Technically that's probably the.
It's the buyer agent.
Was it the listing agent thatbuy that?
That was buying that.
Speaker 1 (15:43):
No, it was the listing agent.
It was the listing agent.
Speaker 2 (15:44):
Okay, the listing agent was saying Well, that's
then a shame on him, becausemaybe he just didn't.
He feels responsible.
Explain it.
Speaker 1 (15:59):
He or she feels have caught that I'm gonna, I'm gonna
pay for the buyer, the.
The main thing is, just as aaside, yeah, remember, and I
tell people this all the timethe listing agreement is
completely different than theagreement of sale.
Yep, it is.
Um, you could put whatever youwant in that listing agreement.
Yeah, as a listing agent, you,that's what's in there.
But and also the other thing isthat the, the listing agreement
and what's on mLS is what'sincluded at the price that's
(16:20):
stated.
So if you go down in price by athousand dollars, the seller
has every right to say well, ifit's not full price I'm not
including the washer and dryer,but then you got to make sure
that that's not in the agreementof sale.
It's very important to forevery agent to look and see what
the excluded and includedthings are on the agreement sale
.
Speaker 3 (16:40):
Yeah.
Speaker 1 (16:40):
Very important.
Speaker 2 (16:41):
I can remember Conrad way back in the day.
Speaker 1 (16:42):
Good question or good comment.
Speaker 2 (16:44):
That's a great question.
Back in the day, always whenyou go to Conrad with a problem,
what would the first thing outof his mouth what's the contract
say?
What's the contract say?
Speaker 1 (16:51):
It's exactly right.
What does the contract say?
Speaker 2 (16:53):
So true?
Does the contract say so?
True, it's just what it is.
But as realtors, that's our jobto explain it, to make sure
they understand everything that,all the nuances of it,
inspections, all that stuff,what could happen, brazils, all
that stuff.
It's our job, yeah, to makesure that they're clear.
Yeah, so obviously, well, thatmight have been clear.
I mean, we don't know that, wedon't know the background.
No, we don't.
It could have been just arealtor look at that.
Speaker 1 (17:15):
The thing is look at the agreement of sale.
As a seller, I always tell aseller there's certain things in
the agreement of sale, prettymuch anything that's written in.
So there's a lot of blankspaces on a Pennsylvania
agreement of sale, a lot ofblank spaces, whatever's written
in.
Pay attention, the stuff that'sboilerplate, that's there for
every single agreement of saleacross the state of Pennsylvania
(17:35):
.
That's pretty much not going tochange.
Stuff that's written in thatchanges.
So look at it, right, right.
Speaker 3 (17:42):
I have a quick, quick question.
So if I, if I sell my houseafter 10 years and I made some
money on it, is that, is thattaxable, the money that I made
on it?
The difference.
Speaker 1 (17:57):
Well, the money, money.
If you don't reinvest that intoyour primary residence, um then
yes, if you just took that, butI think it's two years you have
.
You have two years to reinvestthat got two years, or you pay
taxes on it.
Okay, got it yeah now it's intoyour next primary, in your next
primary residence, yeah oh,okay and actually if it's, uh,
if your primary residence andyou sell that, it's $250,000, I
(18:18):
think for single and $500,000for married.
Speaker 2 (18:20):
That's the cap.
Yeah, that's the cap.
It's $500,000 for the two ofyou guys.
Speaker 1 (18:24):
There's changes coming up.
Good thing you brought that up.
There's changes.
There's a lot of changes comingup.
What changes?
In a good way, in a good waytaxable amount of 250,000,
anything over 250, you would betaxed on, okay.
And now this is federally.
Now too, remember, there'salways state, federal, local.
This is what we talk about.
This.
If it's federal, the state hastheir own set of rules and
(18:44):
things, but federally, they'relooking at raising that amount
because so many people made alot of money on inequity,
especially elderly people.
Looking to you know, you buythis house, you pay it off.
Now it went up by 55% over thelast five years.
You go to sell it and you think, ah, this is my nest egg, I'm
going to move to Florida, I'mgoing to move somewhere warm,
(19:06):
and they're going to tax you foranything over 500,000 in in, uh
, in in income or equity.
Well, it's not right.
It's money that that we really,really should, they should be
able to keep.
So they're raising that, thatamount they're going to raise.
Speaker 3 (19:19):
What are they proponing to raising it to?
Speaker 1 (19:21):
I don't know that, but I know they're going to
raise it and it's primaryresidence, only right, primary
residence.
Okay, yeah, which is fair, itis fair, that's fair the whole
idea is you know, your primaryresidence is there as a wealth
building yeah, tool.
It's not only a place that youlive in it, it's a wealth
building tool.
It's just something that you canlook at later on and and can
rely on that value being thereto to live on.
(19:42):
And if we tax it, you know, itjust doesn't, it doesn't make
sense.
And, and my thing is this ifyou tax it, let's just say
there's capital gains of 20% taxon that.
On that, okay, my thing is thisNow they have less money, so
then what happens?
The government might have totake care of them, right?
So why don't we just let themkeep the money?
Speaker 2 (20:04):
Yeah, you know what I mean.
Speaker 1 (20:05):
Let it, let it go with them.
Let them spend it the way theywant to spend it, instead of
taking 20%.
Now they don't have enoughmoney and now the government has
to take care of them.
Right, doesn't make sense.
Speaker 2 (20:14):
You should run for office.
I should, I should.
I think you should be president.
Thank you, brad, for president,brad for president, and I did
approve that message, just soyou know.
Speaker 1 (20:21):
I approved that frigging message.
So did you have anotherquestion, hugo?
No, no, that was veryinformative.
They're good questions today,very good questions.
It's about time he got thecamera.
Yeah, he's feeling confidentthe Hugo camera.
Yeah, it's the Hugo camera, Iknow I know, so no, some of the
other stuff here.
(20:43):
There are some dips in themarket.
You know there's an average dipright now.
Let me just read this.
It says keep in mind while somemarkets are already seeing
prices come down slightly, theaverage dip is just 3.5%.
That's a far cry from thenearly 20% decline that we saw
in one year in 2008.
So, you're going to see somemarkets come down, but it's all
relative to that 55% number.
(21:04):
You know you can't keep goingup and up and up and up and up.
Speaker 2 (21:08):
There has to be adjustments, has to be
adjustments.
And that brings up thatfive-year rule.
You know that says if you buy ahouse today, within five years,
for the little ups and downs ofit, you're going to make out in
five years that you don't-.
Speaker 1 (21:20):
No matter what.
Speaker 2 (21:21):
No matter what.
Speaker 1 (21:22):
So it doesn't matter when you buy.
So if you buy it when it's down, you're going to be good.
Yep, if you buy when it's up,if you buy in the middle you're
going to be good, because it'sgoing to go maybe down and back
up, or up and back down.
So, or up and back down, so nomatter what, in that five-year
period you'll be okay.
Speaker 2 (21:39):
Exactly, amazing that's not a long period of time
.
That's not a long period oftime.
I remember it used to be seven.
Speaker 1 (21:43):
But that shows you also how quick real estate
adjusts.
Speaker 2 (21:47):
It's a big adjustment , yeah.
Speaker 1 (21:49):
When it goes down, it tends to come back up, yeah it
does.
Speaker 2 (21:52):
It's amazing.
That's really cool.
I like that.
Speaker 1 (21:54):
Yeah, it's a good one .
Good.
So the other thing I saw heretoo I hope this was really
interesting was on keepingcurrent matters.
It says if you want to make amove, your best bet is to focus
on your personal situation.
It says not what the headlinessay.
Work with a real estate pro whoknows to navigate the shifting
conditions in our local market.
Speaker 2 (22:12):
That is very much the truth, I love that it's very
good advice.
Speaker 1 (22:14):
So if you're going to , if you want to move, it should
be about your personalsituation.
Don't try to time the rate,don't try to time the market,
don't try to time when, when umSally's going to college, don't
try, you know, just if there's aneed there or if it's time to
go, then then do it, then move,that's it.
Yeah, make, make the the move,exactly, yeah.
So I think that was really goodadvice that is good advice.
Speaker 2 (22:37):
Yeah, we should all keep that in mind.
Yeah, you know, um, because uh,markets are unpredictable, and
especially, especially right now, it's just it's very volatile
and very unpredictable.
I do know this.
As long as the inventory stayslow, it's going to continue to
go up oh, that's true.
Speaker 1 (22:51):
So true, that's all we know.
I think that's all we know forthis week.
We don't know much.
I mean, that's pretty, that'spretty much it.
I mean, we tried the eight ballbut I couldn't freaking see it.
Speaker 2 (22:59):
It must have been something profane or something.
Speaker 1 (23:00):
It never comes up.
No, it wasn't.
Speaker 3 (23:03):
This is what I get.
It doesn't even.
Speaker 1 (23:06):
Oh, no wait.
No wait, now it's sayingsomething Pete's a jerk.
That's weird.
So, pete, thanks for coming outagain, I appreciate it.
Speaker 2 (23:15):
Thanks for your insight.
Speaker 1 (23:16):
Thanks for your information on the real estate
market, hugo, thanks for yourinput.
I appreciate it.
All right, there we go.
That was it the Real EstateShow here on the Brad Wiseman
Show.
And thanks again for oursponsors, first Response and
Comfort Pro.
We really appreciate that too.
We will see you next Thursdaywith another show, probably
better than this one, becausePete was here.
But that's about it, all right.
(23:39):
See you next Thursday, allright.
from real estate affects the market as a whole,
which then sometimes will affectthe right.
You know the real life.
We all learn in different ways.
If you think about it, waynedyer might not attract everybody
, and everything in betweenmission was really to help
people just to reach their fullpotential.
Speaker 2 (00:21):
The brad weisman and now your host.
Speaker 1 (00:25):
Brad Wiseman.
All right, we're back, hugo.
You're back too, aren't you?
I am, I am, oh there, he is.
There he is.
Say hi, this is nice.
We now have a Hugo cam, and itis very, very cool.
It allows us to see the beautyof the Hugo that is on the show.
Speaker 2 (00:46):
That's right, there he is.
That's right there he is.
Speaker 1 (00:48):
There he is Good-looking guy yeah, look at
him.
I mean come on.
Yeah, that's right.
So we're back.
And we're back because we havea real estate show going on.
Yes, we do.
That's today, today for joiningus, by the way, every thursday
(01:11):
at 7 pm and also thanks for our.
We have some sponsors.
First response contracting johnsellers 484-256-7136.
We also have comfort pro.
They do a great job withanything hvac, hvac, hvac,
indoor air quality, ductcleaning and residential and
commercial work.
Their number 610-477-5512.
Thanks so much for theirsupport because it really helps
out with the show, right, hugo?
Speaker 3 (01:26):
That's right, that's right, that's right.
Speaker 1 (01:28):
He has no idea.
So no Pete's here today.
Pete, thanks for coming inagain tonight.
Appreciate it.
Speaker 2 (01:35):
Thanks for having me, mr Wise man.
Yeah, wise man.
Speaker 1 (01:37):
Always good to see you, always good to talk about
real estate.
Let's, um, you know let's.
Let's just start off.
How many houses on the markethere in berks county?
Speaker 2 (01:44):
well, there was 446 about an hour ago.
Speaker 1 (01:47):
Okay, so we're staying up there we're staying
in that mid-four range.
This is good, better than 250.
It is better than 250 and butyou know, what I love is the
consistency of it.
Yeah, the consistency.
And actually it's not uncommonnationally.
All those numbers are up, right, all the numbers are up
nationally, right, all thenumbers are up nationally.
Speaker 2 (02:05):
And we're kind of, we're just kind of and it's
higher nationally.
Speaker 1 (02:08):
Oh, a lot higher.
Speaker 2 (02:08):
A lot higher.
Yeah, a lot higher.
Average-wise it's way higher.
Speaker 1 (02:12):
Yeah, it's interesting and some of the
information we have is going tokind of show where things are.
And we're midway through theyear.
Yeah, we're past midway throughthe year, that's true.
And that means that now thepredictions of what we see or
what we're looking at, all thepredictions are what's it going
(02:33):
to be to the end of 2025?
What's 2026 going to look likeright, get out your eight ball.
Yeah, hey, we have one here.
Let's see what's 2025 end ofyear going to look like it's not
good, it's not good, not good.
8-ball is not happy about it.
I'm not even going to say whatI said.
I'm not even going to say it.
It could be because I can't seeit, because I have my glasses
(02:56):
on, but we're going to just sayI'm not going to say it.
Yeah, no, we don't need thosecokes, we don't need those.
Yeah, so no.
But there's a lot of things.
I'm going to bring up one thingthat I thought was interesting
right off the bat, and it waslet's talk about.
We always talk about the fearof foreclosure.
Yeah, Because that is alwayswhat comes into play as soon as
the market starts to turn.
You know, ever since 2008happened, we have to always say
(03:20):
hey, guys, we're okay, we'reokay.
It's almost like the communitysays if we would have never sent
a man to the moon, we wouldhave nothing to compare it to.
That's right.
Yeah, because we always say wecan send a man to the moon, but
we can't make tape.
That works, you know what Imean.
It's the same thing.
If we didn't have 2008, wewould never have anything to
compare it to Exactly.
(03:40):
It's the man on the moon thing.
It is the man on the moon, it'sthe trip to the moon.
So our moon days were 2008.
But what I thought wasinteresting was everybody's
crying about those numbers.
I want you to tell me yourstats first, and then I'm going
to give you some other numbers.
That makes it hit home.
Speaker 2 (03:54):
Well, the headlines are always making points.
Speaker 1 (03:56):
No pun intended with it.
That's funny.
Yeah, that's pretty good, justflew in there yeah.
Speaker 2 (04:01):
Okay, so foreclosure starts are up 7% in the first
six months of this year.
7%, okay, they're up 7% Of avery small number.
Yeah, okay, but zooming outshows that's nowhere near crisis
level.
Okay, it's 0.13% of homes 0.13%, 0.13%, okay.
Even though that's an uptick,it was way less than that during
(04:25):
the COVID thing, theforbearance program and all that
.
It was way, way down.
Speaker 1 (04:31):
You couldn't foreclose.
Speaker 2 (04:32):
Exactly During COVID.
Speaker 1 (04:33):
You couldn't Even if I wanted to Nope, They'd be like
no, sir, we're not going to letyou foreclose.
That's right, unless we swabyour nose.
If we swab your nose and youhave COVID, you don't have to
pay a damn thing.
Speaker 2 (04:45):
That's exactly right.
Speaker 1 (04:47):
Could you imagine what a program.
Speaker 2 (04:48):
Imagine that now Swab my nose, swab my nose, swab my
nose.
Speaker 1 (04:52):
I don't want to pay for my mortgage Go ahead.
Speaker 2 (04:55):
But the point is, brad, it's always going to go up
from that.
Yeah, it's always going to comeup because, because it's
because you can foreclose now,yeah, if you want, so point
point one three percent of allhomes?
Yeah, I don't think that's aproblem I don't think that's a
problem okay, yeah, so we arenot even close to crisis level.
Speaker 1 (05:14):
Pennsylvania was 0.12 yeah, so let's put that into
terms that even make more sense.
Okay, so it says here from uhdata that's out there and
available is the first half of2025 was one in every 758 homes
nationwide had a foreclosurefiling.
Speaker 2 (05:31):
That's the stat.
Speaker 1 (05:32):
This is the one that is interesting.
In 2010, during the crash,mortgage News Daily says it was
one in every 45 homes.
That means you knew somebody.
You knew somebody that wasforeclosing A couple problems.
You know what I mean.
In Berks County, you knewsomebody was foreclosing Brad.
(05:53):
Do you remember?
Speaker 2 (05:54):
It's crazy.
Do you remember the quality ofthe home that was under
foreclosure?
Yeah, do you remember walkinginto a home that was in perfect
condition Normally?
Before that it was, oh my God,foreclosures.
Speaker 1 (06:07):
Yeah, there was dog poop on the floor, maybe cat
poop, maybe both.
Maybe both depends what you'reinto.
Dead cats yeah, dead cats werethere too, humans.
Speaker 2 (06:18):
I mean, it was really .
We are not against cats, no, no, no, we like cats, no, but no,
I can remember people just threwtheir keys on the counter and
just let their house go toforeclosure.
Yeah, because they didn't haveany.
It was they couldn't pay.
They couldn't pay, yeah, no, soit's but that really was
amazing.
Speaker 1 (06:29):
One in 758 now Yep, as opposed to one in 45.
That's unbelievable.
Speaker 2 (06:35):
So that's folks.
That really puts it intoperspective Exactly.
Speaker 1 (06:39):
So we're good, yet no foreclosures, hugo.
Nope, that's right, you're notforeclosing.
Everybody's good, nope.
Speaker 2 (06:44):
Nope, and that's again.
That's a national statistic.
Yeah, here locally we're alittle bit better than that.
Speaker 1 (06:50):
And also, if you are thinking about foreclosing just
because you lost your job orwhatever, please talk to a
realtor.
Don't just throw the keys onthe counter and walk away.
There's value there, you know.
If you can't afford the house,at least grab the equity you
deserve.
You know what I mean and thenget an apartment or live with a
(07:13):
friend.
Yeah, live with hugo.
I mean, no, he's, he's, allhe's.
That that ends full that ends.
Speaker 2 (07:17):
His realtor knows he has less kids than you, though
he has less kids than you, buthe's almost there, but his
realtor knows the house verywell.
Speaker 1 (07:23):
That's a nice house and you should see what he did
to it too unbelievable.
I want to move in, yeah he hebefore you couldn't see the
house because all the trees andlandscaping, landscaping um was
there.
Now you can actually see thehouse vegetation, yeah,
vegetation jungle, yeah, so whatother stats do you have?
Speaker 2 (07:42):
well, I would.
Just, we were looking at the,the latest kcm thing that came
out, I think it was actuallyeven today um, the housing
market forecast for the rest of2025.
Yeah, yeah, go, yeah, go ahead.
Right, and you know, the bigthing is everyone's saying in
fact, I've even talked to some--oh, is this the one that has?
Speaker 1 (07:56):
everybody has a different guess.
Yes, yes, yes, this is great.
I love it.
It's great, oh.
Speaker 2 (07:59):
I love these.
These are so great because theyare always wrong.
Speaker 1 (08:11):
They are Zillow and Redfin are predicting the worst
case scenario I know.
Now, do they know they're inreal estate business?
Yeah Well, they're the third.
That's what?
Yeah.
Speaker 2 (08:21):
I mean, I don't think they know and you got to
understand this is their guess.
No, they're into selling leadsfor us business.
Speaker 1 (08:26):
Even if your guess sucks, don't tell everybody.
Your guess sucks Exactly,Especially if you're in the real
estate business.
If I thought the market wasgoing to go to shit in 2025, do
you really think I'm going totell my customers?
Speaker 2 (08:40):
oh man, it's going to go to shit.
It's going to go to shit.
Yeah, exactly.
Unless you absolutelypositively knew Exactly, this is
a prediction so don't yeah,that's unbelievable.
Speaker 1 (08:49):
It Prediction so don't yeah, that's unbelievable,
it's unreal, guys.
But then there's a lot of goodpredictions, A lot of good ones.
Speaker 2 (08:53):
Yeah, well, the highest one's Fannie Mae.
Yeah, and you know what that'sthe secondary mortgage markets.
They're feeling verycomfortable and good about the
real estate market and Iactually believe that one more
so.
That one, because they havemore analysts.
Speaker 1 (09:05):
They have more people that know finances.
Yeah, you know what I mean.
I trust that.
Speaker 2 (09:09):
I mean you got the lenders HPES, Wells Fargo, mba.
Speaker 1 (09:12):
So what's the?
Speaker 2 (09:13):
average.
The average is 1.6.
Appreciation yeah, I think it'smore.
I think it's going to be more.
Speaker 1 (09:18):
Well, you got to remember that's an average of
the nation.
I think we might be more.
Speaker 2 (09:23):
We're at 5.4 right now.
Speaker 1 (09:24):
Yeah.
Speaker 2 (09:33):
I think that are at 5.4% appreciation so far this
year.
Still great, yeah, it's amazing.
So the nation is 1.6 folks.
If you're around the BerksCounty area, lancaster, you know
all that.
You are in a great spot becauseyour equity is, you know, your
appreciations in the fives.
Speaker 1 (09:41):
Yep, and you remember , last month I made the comment
about you know, making sure, asa seller, that you're not going
to be stingy not stingy butgreedy, whatever you want to
call it.
Yeah, that you made your moneyover the last five to six years,
don't let's not worry about thelast month or two months.
Speaker 2 (09:57):
Okay, Well, if you've owned your house over the last
five, six, seven years, you guys, you guys what I meant by that
data from the federal housingfinance agency, fhfa, shows
prices are up 55% nationallycompared to just five years ago.
Speaker 1 (10:11):
So if your house is up 55% over the past five years,
if it drops by two or 3% overthe next couple of months, let's
not, let's not get crazy aboutit.
Speaker 2 (10:21):
I mean 50%.
You made your money already.
Speaker 1 (10:24):
You made a good amount of money.
You've made it, and not thathow much money is too much?
Well, I always think you wantto make as much as you can.
I too much?
Well, I always think you wantto make as much as you can.
I'm not one of those that's.
I'm a capitalist, you know.
Make as much as you can, butalso be realistic and evil yeah,
evil capitalist.
Yes, we should have evil music.
Speaker 3 (10:40):
I don't know if I have any evil music.
Yeah, yeah, there you go yeah,but they're not.
Speaker 2 (10:44):
the point is, of all that's not crashing, no, no, and
and I've.
I was starting to say I think,and I think we got off.
I've even spoken to somerealtors recently People if I
mentioned their name, you wouldbe shocked that think that this
thing is going to come down,it's going to crash.
It has to level out, right?
(11:04):
Listen, guys, unless it goes to3,000, 4,000 homes on the
market.
Speaker 1 (11:09):
It's supply and demand Period.
It's not going to happen.
Speaker 2 (11:12):
I mean it's all inventory, it's all supply and
demand.
100%.
We're not building anythingright now.
That's significant in numbers.
This is not going to changehere in Berks County.
Speaker 1 (11:24):
I'm talking Berks County now.
Speaker 2 (11:25):
Florida's already done it.
They're always changing andsome of the short points they're
already experiencing it but ischanging and some some of the
short points.
They're already experiencing it, but texas, arizona, the sky is
not falling.
Speaker 1 (11:34):
I mean this here locally we're good right, but
this media just really and themedia is more national than they
are local, so and we reallydon't have anybody on a local
level, probably besides us,right uh, telling what's going
on in the berks county realestate that's correct you're not
going to get it on any localnews.
No, they don't.
They don't really get into that.
You know they, they talk, eventhey talk about the national
(11:55):
numbers more so than local yeah,they do yeah so, um, yeah, it's
interesting well, did you seetheir interest rate?
Speaker 2 (12:01):
um prediction yeah, change yeah yeah, I know.
Speaker 1 (12:05):
So I love how these guys work.
This is what we predict for2025.
This is gospel.
This is what's going to happen.
Take our word for it.
All right, forget what we saidin January.
We were serious this time, in.
Speaker 2 (12:20):
July.
We're serious.
We're serious Now we know whatwe're talking about.
Now we're serious.
Speaker 1 (12:24):
Now we're good, we got these numbers down.
Oh my God, then the end of 2025.
Well, we were a little off.
Speaker 2 (12:34):
Oh my gosh, it's funny.
All right, so basically whatthis means, it's stable, yeah it
is.
So the rates are stable.
They're not increasing, orreally.
If you see a decrease, it'sgoing to be extremely small.
Yeah, the average is in the sixand a half range from 6.4 to
6.6,.
Right, get used to 6.6.
(12:54):
Right, so I get used to sixit's in the sixes, it's going to
stay in the sixes.
The three percent honeymoon isover, folks.
It's not going to happen, so uhget used to six.
Speaker 1 (13:00):
I mean that's where it's at.
I mean hugo doesn't want tohear that because he wants to
refinance what are you at.
Speaker 3 (13:05):
I'm at seven and a half seven.
Speaker 1 (13:07):
Oh well, you know that, like we talked, about your
realtor.
Speaker 2 (13:10):
Couldn't get you a better rate than that I'd fire
that guy man.
Speaker 1 (13:14):
I don't know I'd block that number.
Oh man, he has to see me everyweek.
He can't get rid of me.
He's like yeah, I got this damnpodcast.
I got to go in and act like Ilike him.
You're a good actor, You're avery good actor.
Speaker 3 (13:33):
You should get into acting.
I should move into acting,right.
Speaker 1 (13:35):
Yeah, you should, you should.
Speaker 3 (13:37):
All right, so let's move on.
What?
Speaker 1 (13:39):
else you got there Anything else, what else?
You got Well.
Hugo had a question.
Why don't we go through that?
Yeah, let's talk about that.
Speaker 3 (13:47):
I saw this, let's this image on the internet that
said it was a realtor postingsaying now I find myself having
to buy a washer and a dryer formy I think for a buyer, because
the seller included it in thecontract but not in the listing.
But I didn't know what thatmeant.
Speaker 1 (14:09):
But I think what it was is.
The gist of it was this, Ithink, when he told us before we
went on Was if you have alisting agreement and it says no
washer and dryers included, theseller says no, no, don't want
it included.
Okay, An agreement gets writtenand the buyer's agent puts in
that it's included and nobodycatches it.
(14:31):
Ie, the listing agent doesn'tcatch it and has his seller sign
that agreement of sale.
The agreement of sale is what'sgospel, not the listing
agreement.
So somebody owes that buyer awasher and dryer.
That's right.
And most of the time what'sgoing to happen is the finger is
going to get pointed at therealtor for the seller and
(14:51):
somebody is paying for a washerand dryer.
Most likely, I think that'swhat it was.
Speaker 3 (14:54):
Yeah, yeah, Isn't that?
I think that's what it was.
Yeah, yeah, so he says I'mabout to buy a washer and a
dryer for a buyer, because Ididn't catch that that they
included it on the contract formy seller, yet it was not
included in the listing.
Yeah, so he was the listingagent.
Yeah Well.
Speaker 2 (15:08):
I mean, I have a comment about that.
Go ahead make the comment therealtor's signature isn't on the
agreement of sale.
So we have a buyer and a sellerwho agreed on an agreement of
sale and you're supposed to Imean, as a realtor, you're
supposed to point out thesethings though, all the things
that are on the agreement.
(15:29):
So it got missed somehow.
But bottom line is the selleragreed to it with a signature on
the agreement of sale, thebuyer agreed to what was on the
agreement of sale andtechnically it's the sellers.
Technically that's probably the.
It's the buyer agent.
Was it the listing agent thatbuy that?
That was buying that.
Speaker 1 (15:43):
No, it was the listing agent.
It was the listing agent.
Speaker 2 (15:44):
Okay, the listing agent was saying Well, that's
then a shame on him, becausemaybe he just didn't.
He feels responsible.
Explain it.
Speaker 1 (15:59):
He or she feels have caught that I'm gonna, I'm gonna
pay for the buyer, the.
The main thing is, just as aaside, yeah, remember, and I
tell people this all the timethe listing agreement is
completely different than theagreement of sale.
Yep, it is.
Um, you could put whatever youwant in that listing agreement.
Yeah, as a listing agent, you,that's what's in there.
But and also the other thing isthat the, the listing agreement
and what's on mLS is what'sincluded at the price that's
(16:20):
stated.
So if you go down in price by athousand dollars, the seller
has every right to say well, ifit's not full price I'm not
including the washer and dryer,but then you got to make sure
that that's not in the agreementof sale.
It's very important to forevery agent to look and see what
the excluded and includedthings are on the agreement sale
.
Speaker 3 (16:40):
Yeah.
Speaker 1 (16:40):
Very important.
Speaker 2 (16:41):
I can remember Conrad way back in the day.
Speaker 1 (16:42):
Good question or good comment.
Speaker 2 (16:44):
That's a great question.
Back in the day, always whenyou go to Conrad with a problem,
what would the first thing outof his mouth what's the contract
say?
What's the contract say?
Speaker 1 (16:51):
It's exactly right.
What does the contract say?
Speaker 2 (16:53):
So true?
Does the contract say so?
True, it's just what it is.
But as realtors, that's our jobto explain it, to make sure
they understand everything that,all the nuances of it,
inspections, all that stuff,what could happen, brazils, all
that stuff.
It's our job, yeah, to makesure that they're clear.
Yeah, so obviously, well, thatmight have been clear.
I mean, we don't know that, wedon't know the background.
No, we don't.
It could have been just arealtor look at that.
Speaker 1 (17:15):
The thing is look at the agreement of sale.
As a seller, I always tell aseller there's certain things in
the agreement of sale, prettymuch anything that's written in.
So there's a lot of blankspaces on a Pennsylvania
agreement of sale, a lot ofblank spaces, whatever's written
in.
Pay attention, the stuff that'sboilerplate, that's there for
every single agreement of saleacross the state of Pennsylvania
(17:35):
.
That's pretty much not going tochange.
Stuff that's written in thatchanges.
So look at it, right, right.
Speaker 3 (17:42):
I have a quick, quick question.
So if I, if I sell my houseafter 10 years and I made some
money on it, is that, is thattaxable, the money that I made
on it?
The difference.
Speaker 1 (17:57):
Well, the money, money.
If you don't reinvest that intoyour primary residence, um then
yes, if you just took that, butI think it's two years you have
.
You have two years to reinvestthat got two years, or you pay
taxes on it.
Okay, got it yeah now it's intoyour next primary, in your next
primary residence, yeah oh,okay and actually if it's, uh,
if your primary residence andyou sell that, it's $250,000, I
(18:18):
think for single and $500,000for married.
Speaker 2 (18:20):
That's the cap.
Yeah, that's the cap.
It's $500,000 for the two ofyou guys.
Speaker 1 (18:24):
There's changes coming up.
Good thing you brought that up.
There's changes.
There's a lot of changes comingup.
What changes?
In a good way, in a good waytaxable amount of 250,000,
anything over 250, you would betaxed on, okay.
And now this is federally.
Now too, remember, there'salways state, federal, local.
This is what we talk about.
This.
If it's federal, the state hastheir own set of rules and
(18:44):
things, but federally, they'relooking at raising that amount
because so many people made alot of money on inequity,
especially elderly people.
Looking to you know, you buythis house, you pay it off.
Now it went up by 55% over thelast five years.
You go to sell it and you think, ah, this is my nest egg, I'm
going to move to Florida, I'mgoing to move somewhere warm,
(19:06):
and they're going to tax you foranything over 500,000 in in, uh
, in in income or equity.
Well, it's not right.
It's money that that we really,really should, they should be
able to keep.
So they're raising that, thatamount they're going to raise.
Speaker 3 (19:19):
What are they proponing to raising it to?
Speaker 1 (19:21):
I don't know that, but I know they're going to
raise it and it's primaryresidence, only right, primary
residence.
Okay, yeah, which is fair, itis fair, that's fair the whole
idea is you know, your primaryresidence is there as a wealth
building yeah, tool.
It's not only a place that youlive in it, it's a wealth
building tool.
It's just something that you canlook at later on and and can
rely on that value being thereto to live on.
(19:42):
And if we tax it, you know, itjust doesn't, it doesn't make
sense.
And, and my thing is this ifyou tax it, let's just say
there's capital gains of 20% taxon that.
On that, okay, my thing is thisNow they have less money, so
then what happens?
The government might have totake care of them, right?
So why don't we just let themkeep the money?
Speaker 2 (20:04):
Yeah, you know what I mean.
Speaker 1 (20:05):
Let it, let it go with them.
Let them spend it the way theywant to spend it, instead of
taking 20%.
Now they don't have enoughmoney and now the government has
to take care of them.
Right, doesn't make sense.
Speaker 2 (20:14):
You should run for office.
I should, I should.
I think you should be president.
Thank you, brad, for president,brad for president, and I did
approve that message, just soyou know.
Speaker 1 (20:21):
I approved that frigging message.
So did you have anotherquestion, hugo?
No, no, that was veryinformative.
They're good questions today,very good questions.
It's about time he got thecamera.
Yeah, he's feeling confidentthe Hugo camera.
Yeah, it's the Hugo camera, Iknow I know, so no, some of the
other stuff here.
(20:43):
There are some dips in themarket.
You know there's an average dipright now.
Let me just read this.
It says keep in mind while somemarkets are already seeing
prices come down slightly, theaverage dip is just 3.5%.
That's a far cry from thenearly 20% decline that we saw
in one year in 2008.
So, you're going to see somemarkets come down, but it's all
relative to that 55% number.
(21:04):
You know you can't keep goingup and up and up and up and up.
Speaker 2 (21:08):
There has to be adjustments, has to be
adjustments.
And that brings up thatfive-year rule.
You know that says if you buy ahouse today, within five years,
for the little ups and downs ofit, you're going to make out in
five years that you don't-.
Speaker 1 (21:20):
No matter what.
Speaker 2 (21:21):
No matter what.
Speaker 1 (21:22):
So it doesn't matter when you buy.
So if you buy it when it's down, you're going to be good.
Yep, if you buy when it's up,if you buy in the middle you're
going to be good, because it'sgoing to go maybe down and back
up, or up and back down.
So, or up and back down, so nomatter what, in that five-year
period you'll be okay.
Speaker 2 (21:39):
Exactly, amazing that's not a long period of time
.
That's not a long period oftime.
I remember it used to be seven.
Speaker 1 (21:43):
But that shows you also how quick real estate
adjusts.
Speaker 2 (21:47):
It's a big adjustment , yeah.
Speaker 1 (21:49):
When it goes down, it tends to come back up, yeah it
does.
Speaker 2 (21:52):
It's amazing.
That's really cool.
I like that.
Speaker 1 (21:54):
Yeah, it's a good one .
Good.
So the other thing I saw heretoo I hope this was really
interesting was on keepingcurrent matters.
It says if you want to make amove, your best bet is to focus
on your personal situation.
It says not what the headlinessay.
Work with a real estate pro whoknows to navigate the shifting
conditions in our local market.
Speaker 2 (22:12):
That is very much the truth, I love that it's very
good advice.
Speaker 1 (22:14):
So if you're going to , if you want to move, it should
be about your personalsituation.
Don't try to time the rate,don't try to time the market,
don't try to time when, when umSally's going to college, don't
try, you know, just if there's aneed there or if it's time to
go, then then do it, then move,that's it.
Yeah, make, make the the move,exactly, yeah.
So I think that was really goodadvice that is good advice.
Speaker 2 (22:37):
Yeah, we should all keep that in mind.
Yeah, you know, um, because uh,markets are unpredictable, and
especially, especially right now, it's just it's very volatile
and very unpredictable.
I do know this.
As long as the inventory stayslow, it's going to continue to
go up oh, that's true.
Speaker 1 (22:51):
So true, that's all we know.
I think that's all we know forthis week.
We don't know much.
I mean, that's pretty, that'spretty much it.
I mean, we tried the eight ballbut I couldn't freaking see it.
Speaker 2 (22:59):
It must have been something profane or something.
Speaker 1 (23:00):
It never comes up.
No, it wasn't.
Speaker 3 (23:03):
This is what I get.
It doesn't even.
Speaker 1 (23:06):
Oh, no wait.
No wait, now it's sayingsomething Pete's a jerk.
That's weird.
So, pete, thanks for coming outagain, I appreciate it.
Speaker 2 (23:15):
Thanks for your insight.
Speaker 1 (23:16):
Thanks for your information on the real estate
market, hugo, thanks for yourinput.
I appreciate it.
All right, there we go.
That was it the Real EstateShow here on the Brad Wiseman
Show.
And thanks again for oursponsors, first Response and
Comfort Pro.
We really appreciate that too.
We will see you next Thursdaywith another show, probably
better than this one, becausePete was here.
But that's about it, all right.
(23:39):
See you next Thursday, allright.
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