June 12, 2025 • 25 mins
Hi This is Brad Weisman - Click Here to Send Me a Text Message
What happens when the real estate market starts shifting right before your eyes? That's exactly what we're exploring in this eye-opening conversation with returning guest Pete Heim as we dive into the latest trends and surprising statistics from the housing market.
We share crucial advice for today's sellers: gone are the days when you could list a property with obvious flaws and still command multiple offers above asking price. Unless your home is in perfect condition and a premium location, realistic pricing is essential. For buyers, we reveal a game-changing approach - stop limiting your search with rigid parameters. That three-bedroom with a convertible loft might be your perfect four-bedroom with just $2,000 in modifications, but your search filters could be hiding it from view.
Perhaps most importantly, we debunk the persistent myth about 3% interest rates returning. These rates were emergency economic measures that were never intended to be permanent. Waiting for rates to drop could be a costly mistake, especially since lower rates inevitably trigger increased competition and higher prices. Instead, we suggest focusing on the substantial equity growth potential - with a $400,000 home purchase potentially generating over $80,000 in equity over five years.
Ready to make smarter real estate decisions? Listen now, and be sure to subscribe for more insider insights every Thursday at 7pm!
#peteheim #bradweisman #housingtrends #interestrates #sometimesellermarket
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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.
That's the mark as a whole,which then sometimes will affect
the time.
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 the brad weisman show,
and now your host, brad wisemanall right, thanks for tuning in
(00:28):
.
I'm gonna say that first becauseI know there's a lot of
podcasts out there you could belistening to, and, uh, right now
you're listening to ours, whichis very, very cool, right, hugo
, uh-huh that's right, that'sright, thank you yeah, we do,
thank you, and it's everythursday at 7 pm.
We always try to have some.
You know we're always gettinggood guests on here, not trying,
we're working at this and wegot a lot of good guests coming
(00:50):
up.
Please check out our Instagram,our Facebook, youtube.
If you want to watch the show,you can.
Or if you just want to listento the show, go to Spotify, go
to Amazon, anywhere you want togo to find a podcast.
We are there, right anywhereyou want to go to find a podcast
.
Speaker 2 (01:04):
We are there, right.
Speaker 1 (01:04):
That's right, that's right.
So of course, this time we havethe repeat guest.
Did I say repeat, you did?
I did say repeat.
We have the repeat guest.
Pete Heim is here in the studiowith us just to talk about some
real estate, because that'swhat we still do for a living.
There's great guests and thenthere's you.
Speaker 2 (01:23):
I was waiting for that one, the guy that keeps
coming around every monthUnbelievable.
Speaker 1 (01:29):
We've got to change the locks.
Speaker 2 (01:30):
We've got to change the locks.
I am comfortable in here it's avery nice studio.
Speaker 1 (01:34):
Thanks, thank you, and you've been in here a lot
more than anybody else besidesme and Hugo.
That's right, yeah, it's funny,right, yeah.
So if you're watching this show, you probably have noticed that
Pete has a very crazy shirt on.
It has a lot of fish on it.
We did not bring our rods, sowe will not be able to remove
any of those fish from yourshirt, but it's very snazzy.
Thank you.
Speaker 2 (01:53):
Yeah, it was a gift.
It was a birthday gift from thekids.
Speaker 1 (01:57):
That was nice.
I was waiting for it to getwarm enough.
So you're wearing it on theshow just to show them that you
wear it.
Speaker 2 (02:02):
Hey guys, check it out.
I got the fishy shirt on.
It's awesome, very cool, verycool.
Speaker 1 (02:07):
I like it because normally you're in here in like
a suit or like a nice jacket.
Speaker 2 (02:10):
It was an opportunity today.
I didn't have any otherappointments, so I was able to
just come in and be with youguys and be cash man.
Awesome, it's kind of cool.
Speaker 1 (02:19):
Like yeah, so next month we'll have another real
estate professional that wereally like.
Speaker 2 (02:25):
Just kidding, just kidding, it's not what you wear,
it's what you know.
That's right.
That's exactly right.
That's exactly right.
Speaker 1 (02:31):
Okay, so let's talk about some real estate here,
because that's what we do, andwe have 426 homes in the market
here in Berks County.
The number has been above 400for a long time, which is
awesome, and it been above 400for a long time, which is
awesome, and it's very excitingto see.
And there are some littlechanges, little fine-tuned
things are starting to happen.
Do you want to run into some ofyour numbers?
Uh, first, or should we go oversome?
You decide what we can do.
Speaker 2 (02:53):
numbers, yeah I did the first five months of the
year okay, versus the first fivemonths of last year.
Oh, okay, which is kind ofinteresting, the total number of
sold homes so far this year isnight, and this is burke's
county.
Guys, this is a burke's countystat, all of burke's county.
This is, uh, the total numberof homes that have sold so far
this year.
Well, up till june 1st, okay,was uh 1926.
(03:14):
Okay, last year, at this sametime, it was 1896.
So you're so a little bit moreoh my god, there's less homes
unless home yeah nationally?
Yes, okay, not burke's county,we're ahead of last year.
You mean it's for sales?
Go, oh my God, there's lesshomes and less homes Nationally
yes, okay, not Berks County,we're ahead of last year.
Speaker 1 (03:28):
You mean as far as sales go.
Speaker 2 (03:29):
Sales Number of closings.
Gotcha Okay.
Average sales price is up, it's304,327.
Last year at this time it was291.
Interesting, that's up.
Yeah, the number of pendings isoff a little bit we have three
Down.
Speaker 1 (03:44):
Is it down?
Yeah, yeah we have 336 pendings.
That makes sense.
That's why inventory's up Yep,exactly.
Yeah, that makes sense.
Speaker 2 (03:50):
And you're only talking 344 last year, at this
time it's 336.
That's eight.
Yeah, it's not that many.
Speaker 1 (04:03):
It's eight 0.2 months , which is what three days, four
I don't know what is that?
Five days?
Speaker 2 (04:09):
maybe not a whole lot , right, so it's not.
Significant days on market isexactly the same.
What is that?
26 or 28 at the but that'screeping up.
Speaker 1 (04:18):
That's definitely creeping up it's creeping up,
it's 26, but it was this exactsame number as last year, as
last year, but I think, I thinkwe're starting to see some
months that are a little bitmore than that.
Speaker 2 (04:26):
Yeah, that's the average.
Yeah, that was an average DOMfor the first five months of the
year.
Speaker 1 (04:31):
Yeah, and that's what I've been seeing when I'm doing
some market analysis for peoplerecently and I've done several
kind of busy with getting somelisting things going on and they
were all over the place, likethere are different areas, some
were, you know, in Wilson school, some were in different,
different other locations andwhat I'm finding is I'm looking
at the comparables and what I'mseeing is that it used to be
(04:52):
that you would see everythingwould be listed at this and they
got this, which would be ahigher number Right, and it
would be.
The average was 103% of listprices when you got.
I'm starting to see in somelocations that that is not
what's going on.
I'm starting to see placeswhere you're getting a little
bit less than full price or justfull price, and one of the
(05:12):
things I just wrote this up thismorning I was thinking about
you know, we as realtors need tohave an honest conversation
with sellers these days, becausewe're I think we're riding on
that cusp a little bit.
We're kind of like right at thatspot where we just have to make
sure that we tell them that,yes, the market's been amazing
for the past five years, butthere's some sluggish going on
(05:36):
right now, depending on whereyou live and the condition of
the home.
You know, I think that's beenfor so long.
I mean mean we walked in said,yeah, the carpet's ripped, who
cares, it's gonna sell anyway.
Right, seriously, we did we did,and now what we're finding is,
you know, I what I brought in mynotes here was, if it's not a
10 out of 10 in condition and ina great location like premium
(06:00):
location, we might have toreally look at that price.
Yeah, we, we really do.
I don't know if you've beenfinding that or not.
I mean, that's kind of whereI'm seeing it going and
everybody's going.
Oh, it's still great.
Okay, yes, there are areas, butI'm starting to see some things
that are a little off.
Speaker 2 (06:16):
Yeah, well, we just listed a home in Lancaster
County in the 800 range, okay,and Olivia was there this
morning and she you know Olivia,she's great yeah, she noticed
two things that she's going toask the seller to fix.
Wow, there was a stain on aceiling tile, yeah, in the
basement, and the bathroom fanhad some darkness around it.
Good, get rid of it.
You know, $800,000 range andit's not that old a house either
(06:39):
.
So those little things likethat you could have got away
with.
Yes, those little things likethat you could have got away
with, yes exactly right.
Like you just said, covid eraand stuff like that, not now.
Speaker 1 (06:47):
Because there was five other people behind them
that would take it that way.
Speaker 2 (06:49):
Who cares about the tile and the?
I get it, but the higher, andalso, as you know this, the
higher price you go, the morepristine you got to make it.
Yes, absolutely.
Speaker 1 (06:57):
And it's a good point .
And I think you Price changesare a thing of the past.
I mean, we just didn't talkabout price changes.
So I think when we talk to ourclients, our seller clients, we
have to let them know that therecould be a price change.
You know, and we're not talkingup, we're talking the other way
, right, you know.
So there could be.
(07:17):
Especially commercial right,yeah, especially commercial.
Yes, exactly, but yeah, therecould be a price change yeah.
You.
But yeah, there could be aprice change, you know, and I
think we just have to preparepeople for that Cause.
It's our job to tell the truthand to read the tea leaves and
know what's going on.
Speaker 2 (07:30):
Yep, Yep, I just uh.
Florida, you know, as Floridais a market, that there's a lot
more price reductions going on.
I just got a client call metoday that her godfather's
trying to sell his house.
They realtors.
The realtor jacked it 25,000more.
I'm like that was a hugemistake.
They wanted him to go down.
(07:50):
So I said, look, get that pricedown.
Yeah, Especially in.
Speaker 1 (07:52):
Florida they're actually they're at a inventory
surplus.
They are In most areas becausethey have a building machine
that goes into play, which wetalked about before.
Florida has that buildingmachine that kicks in when
things are low in inventory.
The problem is is they all kickin at the same time and you
have all these builders that arejust putting stuff out there
and the next thing you know it'sover too much.
Speaker 2 (08:13):
It's too much Absolutely, and they've got
other issues down there too.
But you said the actives were426 today.
It was like 426.
When I checked it thisafternoon, June 1st of last year
it was 385.
See, there it shows you, sothat's interesting.
It's been a couple of monthsover 400.
Well, we've been over 400.
Yeah.
Speaker 1 (08:34):
For a couple of months now, which is which is
interesting, and that, to me, isobviously not a blip, it's a
trend right, it's something thatis, that is it's consistent and
I think we're going to see that.
I actually think we might seeit close to 500 by the end of
the year.
Speaker 2 (08:41):
I think we will.
I really do, yeah, I think so.
Speaker 1 (08:43):
Which will be something we haven't seen since
pre-COVID.
Yeah, I mean, it's been a longtime.
Speaker 2 (08:47):
I mean personally.
I mean there's a lot ofrealtors in Berks County, but
personally we are starting todump more on right now.
Speaker 1 (08:51):
Oh yeah, there's people coming together and
putting it.
Speaker 2 (08:53):
I've noticed it from other realtors I've been talking
to and stuff, and it's June.
We know too.
Yeah, it might.
I think so too, especially ifthey're not selling as fast.
Exactly yeah, if they're notselling as fast.
So we have advice for sellers.
Yeah, we do.
Yeah, keep your pricecompelling.
Yes, it has to be compelling.
Yeah, don't go crazy.
(09:13):
Pie in the sky, okay.
Yeah, most professionalrealtors give you a range yeah,
that's range okay, and maybeeven on the low side of the
range to hopefully attract morepeople.
Speaker 1 (09:25):
Absolutely.
Speaker 2 (09:26):
Okay, fix anything that's broken.
Speaker 1 (09:28):
Something to it, clean it up.
Yeah, all that stuff, get allthat stuff.
Paint goes a long way.
All that stuff goes a long wayFront door, paint your front
door, all that stuff.
Speaker 2 (09:35):
Just do the little things like that First
impressions.
Lean on the realtor, though, totell what I was thinking about.
If you, if you're not findingthe right house still at this
point something to think about.
Speaker 1 (09:52):
You know, and I just came up with this recently
because I had a situation with abuyer where they were looking
for four bedroom home, fourbedroom home, four bedroom home.
Okay, we ended up going into a,I saw a house and I said we
should just go look at this.
Could it said something in theremarks about potential fourth
bedroom?
Now, I know a lot of timesrealtors, a potential fourth
bedroom is basically a shed.
You know what I mean.
Like it could be a shed.
Speaker 2 (10:12):
It could be.
So you know.
You just gotta be careful but.
Speaker 1 (10:15):
But lofts can, can work too.
So we went to look at thishouse and it was literally one
wall of this loft was open tothe foyer.
One wall, it's just one wall,so you're talking two by four.
It up, drywall, it boom, easy,it had a closet and a separate
door, everything it wasliterally it was supposed to be
the fourth bedroom of the housebut they, they created a loft,
(10:38):
so right there within.
I'm saying you could get abuilder or a you know some
contractor do that for probablytwo grand.
Speaker 2 (10:44):
Yeah, you could come in, stud it up dry, you know
some contractor do that forprobably two grand.
Speaker 1 (10:46):
Yeah, you could come in, stud it up, drywall it match
it, it's done you get the fourbedroom value.
Speaker 2 (10:48):
You got a four bedroom right away.
Speaker 1 (10:49):
So what I'm what I'm saying is that if you're
somebody that has been, has hada hard time finding houses, a
buyer and you're and you're like, well, we need four, better, we
need four bedroom.
Start going to see some threebedrooms.
I agree.
You might have a walkoutbasement that's finished that
you could use as a bedroom.
You might have that, that firstfloor office that, for the time
being, you could use as abedroom.
(11:10):
You know there's a lot ofpossibilities there.
So, and I'll what I found too,if it's a two story and it's a
three bedroom, you're going tohave less competition.
That's right.
Speaker 2 (11:20):
You know what I'm saying.
Speaker 1 (11:21):
So you know it's a good idea to think outside the
box a little bit with it withalways going oh I got to have a
four bedroom, we got to have.
Some of these people don't evenneed four bedrooms, they just
want it, just want it, yeah.
So just think outside that box.
Go look at properties or threebedrooms that look really nice.
Tell your realtor to put you inas a three plus instead of a
four plus that.
Speaker 2 (11:40):
You know it's funny.
I had advice for sellers.
We just, we just went over it.
I had advice for buyers that isfunny.
Speaker 1 (11:47):
We are on the same, we are on it.
So what do you?
What do you have to do?
Was it the same kind of?
What kind of advice?
Well, staying open for buyersand and getting broader.
Speaker 2 (11:55):
Yeah, get get broad in your search parameters.
I mean don't drop it to a three, yeah, instead of a four,
because here's the thing I thinkthey forget.
Speaker 1 (12:01):
yeah is if you have in, you know we, we put a search
in for you and you say youwon't do anything less than four
bedrooms, you're not gettinganything from me.
That's less than four bedrooms.
It could be the best house inthe world, that matches
everything in the world that youwere asking for, but it's not
going to show up.
Same as if you do your ownZillow search or realtorcom
(12:22):
search.
If you put in there four plus,it ain't coming up and another
point there on that same vein.
Speaker 2 (12:27):
Yeah, you were at the mercy of the person who entered
the information about thathouse.
Correct, so correct.
You know what I'm saying.
Yeah, it's garbage in, garbageout and those things.
Speaker 1 (12:36):
Don't read the remarks.
That's what they don't knowit's exactly right.
Speaker 2 (12:38):
So in the remarks, what are the remarks?
What are the remarks like atthe bottom?
Speaker 1 (12:43):
you might remember this when you're looking for
houses, so you get all yourdetailed information.
Then there was a part in themiddle of the Maltese that said
beautiful house on small lot,blah, blah, blah, blah, blah,
all that stuff.
That's where a lot of times theagent will put in their
possible.
fourth, bedroom possible garagecould be added.
Possible in-law suite?
Possible in-law suite.
So you know when you're puttingparameters in to search for
(13:07):
home and Zillow.
It's not taking the informationfrom remarks, neither is the
MLS.
So if you put in three plus,you have the ability to read
those remarks and go oh my God,this house here matches
everything we want.
We can add a fourth bedroomsomewhere sometime.
Yeah, you know, just causeyou're planning on having
children doesn't mean you needthe bedroom now.
You know what I'm saying.
Speaker 2 (13:23):
You're worrying me, Hugo.
That wasn't that long ago youbought a house and you're
forgetting this.
I just didn't know.
It was called the remarks what?
Speaker 1 (13:32):
oh yeah, his realtor didn't let him read those bad
realtor bad realtor yeah, no,but it's, it's.
It's really something that Ijust I just came across this and
I thought, you know what?
I gotta bring this up so peoplecan think outside the box.
Speaker 2 (13:45):
Dude, that's huge and plus they can do maybe type of
home if they're getting.
Yes, I got to have a two-story.
Well, open it up, open it tosplits and buy levels and stuff
you might have right.
Yeah, agreed A location.
Even Can you stretch a littlebit?
Yeah, you, you know, maybe,unless it's specifically school
(14:07):
district or which I get, itwhich I get, yeah, but if you
don't need to, yeah, stretch, itstretch it out, absolutely um
because what's funny about that?
Speaker 1 (14:11):
if somebody says, oh, I want to be in wilson schools,
but I don't want to be inwarnersville, yeah, well, guess
what?
There's homes that arebasically in warnersville that
are wilson schools.
So you know, I mean, you got,if you discount warnersville on
your search, yeah, but you wantto be in wilson, well, you just
discounted anything that's inwill.
In warnersville, that would be,and that's not warnersville
borough, but it's warnersvilledress is what it would be
(14:33):
because I live there it isbecause you live there.
Yeah, that's, I knew he wasgetting there trying to get
people away from you.
Uh, but no, but seriously, ifthey don't, if they all, I don't
want to drive to Wernersville.
Well, guess what?
There's Wilson homes out there.
Oh, lots, yeah.
Speaker 2 (14:46):
You're in Wilson, yeah.
Speaker 1 (14:47):
Which is, and nobody would ever think you're in
Wilson because of where you are,nope.
Speaker 2 (14:51):
You're right, it's way out.
You're probably right at theend of the line.
You know where spring Creek is.
Yeah, I, yeah.
So, as a buyer, yeah, don'tstay open.
You stay way open, yeah, or noteven just open.
Take out some parameters, likeyou know what I mean.
(15:11):
Like eliminate some, becauseevery parameter you put in
limits your search, absolutely.
So stay open-minded.
Don't.
Don't even put a parameter inabout something.
Help me out.
I mean, I gotta have a diningroom.
Well, no, just leave it out.
Don't.
Speaker 1 (15:23):
Don't even make it with that too pete once I might
be putting the listing in and Icall it a den and it's actually
a dining room.
Speaker 2 (15:30):
Exactly, Garbage in garbage out, you don't know.
Speaker 1 (15:33):
Or it could be an office.
Maybe it was always a diningroom and these people turned it
into an office.
Now guess what?
Speaker 2 (15:46):
We're in there.
Take the damn desk out, put adining room table in it.
It's a dining room and you canlook how easy it is sleep in the
kitchen.
I mean you can make that abedroom.
Speaker 1 (15:49):
Well, if you have a really big island if you have a
big island right there, that's abed hugo's like.
I gotta read the remarks moreoften, oh my gosh so let's go
into you know recently and inyou know, some people will say I
don't want to sign in my yard.
They say in today's times whydo we need to sign?
Just been there, done that?
(16:09):
Yep, me too, and it's okay, Iget it.
Some people just don't like asign, and that's fine, yeah.
But if you're one of thosethat's thinking I don't want to
sign because it doesn't work,okay, or that it's not important
, that's wrong Just considerthis, and this is what it says
Is for sale sign still important?
Absolutely.
It's the silent salespersonworking 24 seven in your front
(16:32):
yard.
Speaker 2 (16:32):
Boom.
Do you remember the percentageof buyers that come from a sign?
70%.
Speaker 1 (16:36):
Is that right?
It was around there.
70%, 70%.
Yeah, I don't know if that'sstill the case, but it is a
percentage.
Speaker 2 (16:43):
Years ago it was.
Speaker 1 (16:44):
It was years ago, the most recent one I think I saw
was what if it's?
Speaker 2 (16:46):
30%, I thought it was 17.
How many percents do you wantto give up?
It doesn't matter Exactly, itdoesn't matter how many percents
.
Do you want to give up?
Exactly?
No, I didn't think so.
No, never.
Speaker 1 (16:59):
Yeah, If it's 1%.
Speaker 2 (17:00):
I'm still putting the damn sign in the yard.
Speaker 1 (17:02):
No, but it is interesting that signs are.
You know, it is something.
But, like I said, I get somepeople that it's a privacy thing
or it's something that they orthey don't want the neighbors
being involved in their business.
But you know, and I get that,but for people that are thinking
it's just not needed butthey're not going to see their
neighbors anymore anyways.
There you go.
Speaker 2 (17:23):
That's the guy.
He's reading remarks now, isn't?
Speaker 1 (17:26):
he, yes, he is, yes, his memory's back.
Oh my.
Speaker 2 (17:30):
God, welcome back, hugo.
It's nice to see you.
Speaker 1 (17:33):
Did you see Hugo's new camera?
Do you have it hooked up?
Speaker 2 (17:36):
No, I didn't Okay.
Speaker 1 (17:39):
He has a new camera.
Speaker 2 (17:40):
It looks expensive, we'll show it to you.
Speaker 1 (17:42):
It's pretty funny.
Speaker 2 (17:43):
It's a good one it does a good angle.
Speaker 1 (17:44):
if you go, I'm sure.
So other thing that I had onhere too, this was a good
graphic and it's potentialgrowth in home equity over the
next five years, from 2024 to2029.
It's saying if you buy a$400,000 house, you have a good
chance of making $80,800 inequity.
(18:05):
You know how much you'd make inrent?
Oh, let's see Nothing.
Yeah, exactly.
So I mean that's a good stat,that's a great stat, it's a
really good stat.
It just shows you the potentialgrowth and it shows you how
wealth is built.
Speaker 2 (18:19):
Yeah Right, it totally starts with home
ownership.
Speaker 1 (18:26):
You know what that plays into.
The is the three.
Did you see the 3% interestrate?
Is it coming back?
Did you see that?
I did see that.
Was that on keeping currentmanners, yeah, so what?
Speaker 2 (18:30):
what's the answer to?
Speaker 1 (18:31):
that Pete Beautiful.
Speaker 2 (18:32):
What's the answer to that?
No.
Do you know what the 3%interest rate was?
I didn't know it.
I didn't have it put in this.
I didn't know it.
Speaker 1 (18:40):
I didn't have it put in these words, I didn't
actually read that, so tell me.
Speaker 2 (18:42):
That's what's great about KCM.
They put it, they dumb it down.
For guys like me, it's so good3% interest was never meant to
last.
The short-term response toemergency economic policies in
the pandemic is what caused the3% interest rate and then it
went too long.
(19:02):
Then it went too long.
It hung on there because theydidn't want to make a change,
because it was so good.
Speaker 1 (19:07):
Yeah.
Speaker 2 (19:07):
Yeah, so, and then they had to change it because
inflation yeah, it had to happenbecause of inflation.
Speaker 1 (19:14):
Right, isn't that something?
So it was there.
Speaker 2 (19:17):
So it was, it was, it was short term.
Speaker 1 (19:19):
Yeah, so it was done there on purpose.
On purpose, yes, to get thingsto go as a response to the
economy, yeah, it's because wewere tanking because of the
COVID Bing Bingo.
Speaker 2 (19:28):
It was short term focused already, so it's not
going to happen.
If it happens, it would be areason like that, that would
have happened before that wouldhave.
We don't see that happening.
No.
Speaker 1 (19:38):
Yeah, no, not at all.
Speaker 2 (19:39):
Focus on your budget, focus on your credit score.
Yeah, if rates come back down,guess what's going to happen?
You're going to be in morecompetition with other buyers
anyway, yeah, right.
So just keep looking for thehouse that you're looking for,
right?
And don't worry about so muchabout the interest rate, don't
give up.
Speaker 1 (19:56):
Right Don, right Don't give up If that thing gets
under the fives.
Speaker 2 (19:58):
I guarantee it's going to be swampland again.
It's going to be berserk oh itwill be Chaos.
Yes, you're going to see pricesgo crazy, so why put yourself
through that?
Get the house you want.
Speaker 1 (20:07):
I got to put my glasses on for this one because
I printed this out and I don'tknow if you guys can see it, but
it's like a two font yeah, yeah, this is.
I printed this puppy out andI'm like there's no way I'm
going without glasses, so I'mgoing to go with it and see if
we can read this here.
So, front door.
What's interesting is is um,we're going to be having an eye
doctor on here sometime in thefuture.
Speaker 2 (20:28):
Uh, so uh that'll be a good.
It's a good thing, veryappropriate, right, oh my gosh.
Speaker 1 (20:34):
So uh, no, but home projects for the best return.
I love this one new steel frontdoor.
You get a hundred percent ofthat hundred percent, yeah, I
saw that.
So that means painting it.
You get a hundred percent back.
I think so because paint's evencheaper than the whole frigate
door you definitely get ahundred percent paint.
Speaker 2 (20:50):
Yeah, especially that was a garage door right brad,
not the front door no, it saysnew steel front door.
Oh, it says the front door, youget a hundred% of that back.
Speaker 1 (20:58):
Okay, closet renovation, you get 93% back.
Whew, yeah, I would have neverguessed that.
93% New fiberglass front dooroh, that's different, that's
different.
So you get 80% of that back.
Speaker 2 (21:13):
Difference between steel and fiberglass and
fiberglass yeah.
Speaker 1 (21:16):
Maybe people the perception.
Speaker 2 (21:17):
I've never seen a fiber perception.
Speaker 1 (21:18):
Oh yeah, because it's heavier, maybe yeah there's a
lot of fiberglass front doorsnow.
Speaker 2 (21:21):
Yeah, and that's for insulation purposes.
Speaker 1 (21:23):
Right, right, Because steel.
If you ever feel a steel doorwhen it's really hot outside, it
comes through the door.
Speaker 2 (21:29):
You'll feel it on the door, oh yeah.
Speaker 1 (21:34):
Whereas fiberglass you won't feel it.
That's right, yeah, so it's% ofthat.
You get 74% of that back.
Speaker 2 (21:41):
On 10 grand, you get 7,400 back.
Yes, where are you?
Speaker 1 (21:45):
getting windows for 10 grand, three of them.
I was going to say what theheck?
What do you live in?
A camper, just a hotel, exactly.
Speaker 2 (21:54):
No, brad, but is there a time frame, though, that
it says that you would get thatmoney back, is it?
Speaker 1 (22:00):
immediate.
It doesn't, it does not saythat.
So you've got to take thesethings with a grain of salt, but
what it's trying to do, I thinkoverall it is probably
immediate.
Speaker 2 (22:09):
Yeah, because if you replace your door now, you're
going to get 100% of it back.
I think that's what it means.
Here you go, add a new bathroom.
Speaker 1 (22:14):
It's only 56.
Oh, that's a new bathroom, newbathroom.
Speaker 2 (22:17):
Not renovated Right.
Speaker 1 (22:19):
And a new primary suite 54%.
Speaker 2 (22:22):
Yeah, that makes sense.
Yep, Yep.
Speaker 1 (22:24):
Yep, that's funny right.
And then here's the bathroomrenovation.
Now, that's just a renovation,that's 50% also, oh yeah.
Speaker 2 (22:30):
Sure, but the point I'm trying to make with the-.
What's your point anyway Withgetting that money back if it's
five years old?
Speaker 1 (22:42):
The moral of the story is, if your front door
looks like crap, replace it,because you're going to get it
all back when you sell the house.
Speaker 2 (22:49):
You're going to get it back?
Yeah, especially if you paintit.
Speaker 1 (22:51):
The rest of the house looks like crap right.
It's roof is ruined, thewindows are ruined, but you get
that front door in there.
You're in business man, we canguarantee this.
We can, we can totallyguarantee you'll get the paint
money back.
Oh my, goodness they're like,oh, we're calling another
realtor.
I just I'll tell you, man,unbelievable well, you know, I
think I think that's all weneeded for today.
Speaker 2 (23:12):
It was all good hugo do you have any other questions.
Speaker 1 (23:17):
No, no, do you have any Gotcha?
Bought it back Bought it back.
Speaker 2 (23:21):
Very good, very good.
Yep, that's why I'm the host.
Speaker 1 (23:25):
All right, that's about it, all right.
Speaker 2 (23:27):
Thanks, pete for coming in here today.
I really appreciate it.
Speaker 1 (23:29):
We always have a good time with Pete's in here.
I hope you listen to this realestate show every thursday 7 pm.
We're on instagram, facebook,youtube everywhere you find a uh
a podcast.
That's where we are all right.
(23:50):
That's about it, thank you.
from real estate.
That's the mark as a whole,which then sometimes will affect
the time.
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 the brad weisman show,
and now your host, brad wisemanall right, thanks for tuning in
(00:28):
.
I'm gonna say that first becauseI know there's a lot of
podcasts out there you could belistening to, and, uh, right now
you're listening to ours, whichis very, very cool, right, hugo
, uh-huh that's right, that'sright, thank you yeah, we do,
thank you, and it's everythursday at 7 pm.
We always try to have some.
You know we're always gettinggood guests on here, not trying,
we're working at this and wegot a lot of good guests coming
(00:50):
up.
Please check out our Instagram,our Facebook, youtube.
If you want to watch the show,you can.
Or if you just want to listento the show, go to Spotify, go
to Amazon, anywhere you want togo to find a podcast.
We are there, right anywhereyou want to go to find a podcast
.
Speaker 2 (01:04):
We are there, right.
Speaker 1 (01:04):
That's right, that's right.
So of course, this time we havethe repeat guest.
Did I say repeat, you did?
I did say repeat.
We have the repeat guest.
Pete Heim is here in the studiowith us just to talk about some
real estate, because that'swhat we still do for a living.
There's great guests and thenthere's you.
Speaker 2 (01:23):
I was waiting for that one, the guy that keeps
coming around every monthUnbelievable.
Speaker 1 (01:29):
We've got to change the locks.
Speaker 2 (01:30):
We've got to change the locks.
I am comfortable in here it's avery nice studio.
Speaker 1 (01:34):
Thanks, thank you, and you've been in here a lot
more than anybody else besidesme and Hugo.
That's right, yeah, it's funny,right, yeah.
So if you're watching this show, you probably have noticed that
Pete has a very crazy shirt on.
It has a lot of fish on it.
We did not bring our rods, sowe will not be able to remove
any of those fish from yourshirt, but it's very snazzy.
Thank you.
Speaker 2 (01:53):
Yeah, it was a gift.
It was a birthday gift from thekids.
Speaker 1 (01:57):
That was nice.
I was waiting for it to getwarm enough.
So you're wearing it on theshow just to show them that you
wear it.
Speaker 2 (02:02):
Hey guys, check it out.
I got the fishy shirt on.
It's awesome, very cool, verycool.
Speaker 1 (02:07):
I like it because normally you're in here in like
a suit or like a nice jacket.
Speaker 2 (02:10):
It was an opportunity today.
I didn't have any otherappointments, so I was able to
just come in and be with youguys and be cash man.
Awesome, it's kind of cool.
Speaker 1 (02:19):
Like yeah, so next month we'll have another real
estate professional that wereally like.
Speaker 2 (02:25):
Just kidding, just kidding, it's not what you wear,
it's what you know.
That's right.
That's exactly right.
That's exactly right.
Speaker 1 (02:31):
Okay, so let's talk about some real estate here,
because that's what we do, andwe have 426 homes in the market
here in Berks County.
The number has been above 400for a long time, which is
awesome, and it been above 400for a long time, which is
awesome, and it's very excitingto see.
And there are some littlechanges, little fine-tuned
things are starting to happen.
Do you want to run into some ofyour numbers?
Uh, first, or should we go oversome?
You decide what we can do.
Speaker 2 (02:53):
numbers, yeah I did the first five months of the
year okay, versus the first fivemonths of last year.
Oh, okay, which is kind ofinteresting, the total number of
sold homes so far this year isnight, and this is burke's
county.
Guys, this is a burke's countystat, all of burke's county.
This is, uh, the total numberof homes that have sold so far
this year.
Well, up till june 1st, okay,was uh 1926.
(03:14):
Okay, last year, at this sametime, it was 1896.
So you're so a little bit moreoh my god, there's less homes
unless home yeah nationally?
Yes, okay, not burke's county,we're ahead of last year.
You mean it's for sales?
Go, oh my God, there's lesshomes and less homes Nationally
yes, okay, not Berks County,we're ahead of last year.
Speaker 1 (03:28):
You mean as far as sales go.
Speaker 2 (03:29):
Sales Number of closings.
Gotcha Okay.
Average sales price is up, it's304,327.
Last year at this time it was291.
Interesting, that's up.
Yeah, the number of pendings isoff a little bit we have three
Down.
Speaker 1 (03:44):
Is it down?
Yeah, yeah we have 336 pendings.
That makes sense.
That's why inventory's up Yep,exactly.
Yeah, that makes sense.
Speaker 2 (03:50):
And you're only talking 344 last year, at this
time it's 336.
That's eight.
Yeah, it's not that many.
Speaker 1 (04:03):
It's eight 0.2 months , which is what three days, four
I don't know what is that?
Five days?
Speaker 2 (04:09):
maybe not a whole lot , right, so it's not.
Significant days on market isexactly the same.
What is that?
26 or 28 at the but that'screeping up.
Speaker 1 (04:18):
That's definitely creeping up it's creeping up,
it's 26, but it was this exactsame number as last year, as
last year, but I think, I thinkwe're starting to see some
months that are a little bitmore than that.
Speaker 2 (04:26):
Yeah, that's the average.
Yeah, that was an average DOMfor the first five months of the
year.
Speaker 1 (04:31):
Yeah, and that's what I've been seeing when I'm doing
some market analysis for peoplerecently and I've done several
kind of busy with getting somelisting things going on and they
were all over the place, likethere are different areas, some
were, you know, in Wilson school, some were in different,
different other locations andwhat I'm finding is I'm looking
at the comparables and what I'mseeing is that it used to be
(04:52):
that you would see everythingwould be listed at this and they
got this, which would be ahigher number Right, and it
would be.
The average was 103% of listprices when you got.
I'm starting to see in somelocations that that is not
what's going on.
I'm starting to see placeswhere you're getting a little
bit less than full price or justfull price, and one of the
(05:12):
things I just wrote this up thismorning I was thinking about
you know, we as realtors need tohave an honest conversation
with sellers these days, becausewe're I think we're riding on
that cusp a little bit.
We're kind of like right at thatspot where we just have to make
sure that we tell them that,yes, the market's been amazing
for the past five years, butthere's some sluggish going on
(05:36):
right now, depending on whereyou live and the condition of
the home.
You know, I think that's beenfor so long.
I mean mean we walked in said,yeah, the carpet's ripped, who
cares, it's gonna sell anyway.
Right, seriously, we did we did,and now what we're finding is,
you know, I what I brought in mynotes here was, if it's not a
10 out of 10 in condition and ina great location like premium
(06:00):
location, we might have toreally look at that price.
Yeah, we, we really do.
I don't know if you've beenfinding that or not.
I mean, that's kind of whereI'm seeing it going and
everybody's going.
Oh, it's still great.
Okay, yes, there are areas, butI'm starting to see some things
that are a little off.
Speaker 2 (06:16):
Yeah, well, we just listed a home in Lancaster
County in the 800 range, okay,and Olivia was there this
morning and she you know Olivia,she's great yeah, she noticed
two things that she's going toask the seller to fix.
Wow, there was a stain on aceiling tile, yeah, in the
basement, and the bathroom fanhad some darkness around it.
Good, get rid of it.
You know, $800,000 range andit's not that old a house either
(06:39):
.
So those little things likethat you could have got away
with.
Yes, those little things likethat you could have got away
with, yes exactly right.
Like you just said, covid eraand stuff like that, not now.
Speaker 1 (06:47):
Because there was five other people behind them
that would take it that way.
Speaker 2 (06:49):
Who cares about the tile and the?
I get it, but the higher, andalso, as you know this, the
higher price you go, the morepristine you got to make it.
Yes, absolutely.
Speaker 1 (06:57):
And it's a good point .
And I think you Price changesare a thing of the past.
I mean, we just didn't talkabout price changes.
So I think when we talk to ourclients, our seller clients, we
have to let them know that therecould be a price change.
You know, and we're not talkingup, we're talking the other way
, right, you know.
So there could be.
(07:17):
Especially commercial right,yeah, especially commercial.
Yes, exactly, but yeah, therecould be a price change yeah.
You.
But yeah, there could be aprice change, you know, and I
think we just have to preparepeople for that Cause.
It's our job to tell the truthand to read the tea leaves and
know what's going on.
Speaker 2 (07:30):
Yep, Yep, I just uh.
Florida, you know, as Floridais a market, that there's a lot
more price reductions going on.
I just got a client call metoday that her godfather's
trying to sell his house.
They realtors.
The realtor jacked it 25,000more.
I'm like that was a hugemistake.
They wanted him to go down.
(07:50):
So I said, look, get that pricedown.
Yeah, Especially in.
Speaker 1 (07:52):
Florida they're actually they're at a inventory
surplus.
They are In most areas becausethey have a building machine
that goes into play, which wetalked about before.
Florida has that buildingmachine that kicks in when
things are low in inventory.
The problem is is they all kickin at the same time and you
have all these builders that arejust putting stuff out there
and the next thing you know it'sover too much.
Speaker 2 (08:13):
It's too much Absolutely, and they've got
other issues down there too.
But you said the actives were426 today.
It was like 426.
When I checked it thisafternoon, June 1st of last year
it was 385.
See, there it shows you, sothat's interesting.
It's been a couple of monthsover 400.
Well, we've been over 400.
Yeah.
Speaker 1 (08:34):
For a couple of months now, which is which is
interesting, and that, to me, isobviously not a blip, it's a
trend right, it's something thatis, that is it's consistent and
I think we're going to see that.
I actually think we might seeit close to 500 by the end of
the year.
Speaker 2 (08:41):
I think we will.
I really do, yeah, I think so.
Speaker 1 (08:43):
Which will be something we haven't seen since
pre-COVID.
Yeah, I mean, it's been a longtime.
Speaker 2 (08:47):
I mean personally.
I mean there's a lot ofrealtors in Berks County, but
personally we are starting todump more on right now.
Speaker 1 (08:51):
Oh yeah, there's people coming together and
putting it.
Speaker 2 (08:53):
I've noticed it from other realtors I've been talking
to and stuff, and it's June.
We know too.
Yeah, it might.
I think so too, especially ifthey're not selling as fast.
Exactly yeah, if they're notselling as fast.
So we have advice for sellers.
Yeah, we do.
Yeah, keep your pricecompelling.
Yes, it has to be compelling.
Yeah, don't go crazy.
(09:13):
Pie in the sky, okay.
Yeah, most professionalrealtors give you a range yeah,
that's range okay, and maybeeven on the low side of the
range to hopefully attract morepeople.
Speaker 1 (09:25):
Absolutely.
Speaker 2 (09:26):
Okay, fix anything that's broken.
Speaker 1 (09:28):
Something to it, clean it up.
Yeah, all that stuff, get allthat stuff.
Paint goes a long way.
All that stuff goes a long wayFront door, paint your front
door, all that stuff.
Speaker 2 (09:35):
Just do the little things like that First
impressions.
Lean on the realtor, though, totell what I was thinking about.
If you, if you're not findingthe right house still at this
point something to think about.
Speaker 1 (09:52):
You know, and I just came up with this recently
because I had a situation with abuyer where they were looking
for four bedroom home, fourbedroom home, four bedroom home.
Okay, we ended up going into a,I saw a house and I said we
should just go look at this.
Could it said something in theremarks about potential fourth
bedroom?
Now, I know a lot of timesrealtors, a potential fourth
bedroom is basically a shed.
You know what I mean.
Like it could be a shed.
Speaker 2 (10:12):
It could be.
So you know.
You just gotta be careful but.
Speaker 1 (10:15):
But lofts can, can work too.
So we went to look at thishouse and it was literally one
wall of this loft was open tothe foyer.
One wall, it's just one wall,so you're talking two by four.
It up, drywall, it boom, easy,it had a closet and a separate
door, everything it wasliterally it was supposed to be
the fourth bedroom of the housebut they, they created a loft,
(10:38):
so right there within.
I'm saying you could get abuilder or a you know some
contractor do that for probablytwo grand.
Speaker 2 (10:44):
Yeah, you could come in, stud it up dry, you know
some contractor do that forprobably two grand.
Speaker 1 (10:46):
Yeah, you could come in, stud it up, drywall it match
it, it's done you get the fourbedroom value.
Speaker 2 (10:48):
You got a four bedroom right away.
Speaker 1 (10:49):
So what I'm what I'm saying is that if you're
somebody that has been, has hada hard time finding houses, a
buyer and you're and you're like, well, we need four, better, we
need four bedroom.
Start going to see some threebedrooms.
I agree.
You might have a walkoutbasement that's finished that
you could use as a bedroom.
You might have that, that firstfloor office that, for the time
being, you could use as abedroom.
(11:10):
You know there's a lot ofpossibilities there.
So, and I'll what I found too,if it's a two story and it's a
three bedroom, you're going tohave less competition.
That's right.
Speaker 2 (11:20):
You know what I'm saying.
Speaker 1 (11:21):
So you know it's a good idea to think outside the
box a little bit with it withalways going oh I got to have a
four bedroom, we got to have.
Some of these people don't evenneed four bedrooms, they just
want it, just want it, yeah.
So just think outside that box.
Go look at properties or threebedrooms that look really nice.
Tell your realtor to put you inas a three plus instead of a
four plus that.
Speaker 2 (11:40):
You know it's funny.
I had advice for sellers.
We just, we just went over it.
I had advice for buyers that isfunny.
Speaker 1 (11:47):
We are on the same, we are on it.
So what do you?
What do you have to do?
Was it the same kind of?
What kind of advice?
Well, staying open for buyersand and getting broader.
Speaker 2 (11:55):
Yeah, get get broad in your search parameters.
I mean don't drop it to a three, yeah, instead of a four,
because here's the thing I thinkthey forget.
Speaker 1 (12:01):
yeah is if you have in, you know we, we put a search
in for you and you say youwon't do anything less than four
bedrooms, you're not gettinganything from me.
That's less than four bedrooms.
It could be the best house inthe world, that matches
everything in the world that youwere asking for, but it's not
going to show up.
Same as if you do your ownZillow search or realtorcom
(12:22):
search.
If you put in there four plus,it ain't coming up and another
point there on that same vein.
Speaker 2 (12:27):
Yeah, you were at the mercy of the person who entered
the information about thathouse.
Correct, so correct.
You know what I'm saying.
Yeah, it's garbage in, garbageout and those things.
Speaker 1 (12:36):
Don't read the remarks.
That's what they don't knowit's exactly right.
Speaker 2 (12:38):
So in the remarks, what are the remarks?
What are the remarks like atthe bottom?
Speaker 1 (12:43):
you might remember this when you're looking for
houses, so you get all yourdetailed information.
Then there was a part in themiddle of the Maltese that said
beautiful house on small lot,blah, blah, blah, blah, blah,
all that stuff.
That's where a lot of times theagent will put in their
possible.
fourth, bedroom possible garagecould be added.
Possible in-law suite?
Possible in-law suite.
So you know when you're puttingparameters in to search for
(13:07):
home and Zillow.
It's not taking the informationfrom remarks, neither is the
MLS.
So if you put in three plus,you have the ability to read
those remarks and go oh my God,this house here matches
everything we want.
We can add a fourth bedroomsomewhere sometime.
Yeah, you know, just causeyou're planning on having
children doesn't mean you needthe bedroom now.
You know what I'm saying.
Speaker 2 (13:23):
You're worrying me, Hugo.
That wasn't that long ago youbought a house and you're
forgetting this.
I just didn't know.
It was called the remarks what?
Speaker 1 (13:32):
oh yeah, his realtor didn't let him read those bad
realtor bad realtor yeah, no,but it's, it's.
It's really something that Ijust I just came across this and
I thought, you know what?
I gotta bring this up so peoplecan think outside the box.
Speaker 2 (13:45):
Dude, that's huge and plus they can do maybe type of
home if they're getting.
Yes, I got to have a two-story.
Well, open it up, open it tosplits and buy levels and stuff
you might have right.
Yeah, agreed A location.
Even Can you stretch a littlebit?
Yeah, you, you know, maybe,unless it's specifically school
(14:07):
district or which I get, itwhich I get, yeah, but if you
don't need to, yeah, stretch, itstretch it out, absolutely um
because what's funny about that?
Speaker 1 (14:11):
if somebody says, oh, I want to be in wilson schools,
but I don't want to be inwarnersville, yeah, well, guess
what?
There's homes that arebasically in warnersville that
are wilson schools.
So you know, I mean, you got,if you discount warnersville on
your search, yeah, but you wantto be in wilson, well, you just
discounted anything that's inwill.
In warnersville, that would be,and that's not warnersville
borough, but it's warnersvilledress is what it would be
(14:33):
because I live there it isbecause you live there.
Yeah, that's, I knew he wasgetting there trying to get
people away from you.
Uh, but no, but seriously, ifthey don't, if they all, I don't
want to drive to Wernersville.
Well, guess what?
There's Wilson homes out there.
Oh, lots, yeah.
Speaker 2 (14:46):
You're in Wilson, yeah.
Speaker 1 (14:47):
Which is, and nobody would ever think you're in
Wilson because of where you are,nope.
Speaker 2 (14:51):
You're right, it's way out.
You're probably right at theend of the line.
You know where spring Creek is.
Yeah, I, yeah.
So, as a buyer, yeah, don'tstay open.
You stay way open, yeah, or noteven just open.
Take out some parameters, likeyou know what I mean.
(15:11):
Like eliminate some, becauseevery parameter you put in
limits your search, absolutely.
So stay open-minded.
Don't.
Don't even put a parameter inabout something.
Help me out.
I mean, I gotta have a diningroom.
Well, no, just leave it out.
Don't.
Speaker 1 (15:23):
Don't even make it with that too pete once I might
be putting the listing in and Icall it a den and it's actually
a dining room.
Speaker 2 (15:30):
Exactly, Garbage in garbage out, you don't know.
Speaker 1 (15:33):
Or it could be an office.
Maybe it was always a diningroom and these people turned it
into an office.
Now guess what?
Speaker 2 (15:46):
We're in there.
Take the damn desk out, put adining room table in it.
It's a dining room and you canlook how easy it is sleep in the
kitchen.
I mean you can make that abedroom.
Speaker 1 (15:49):
Well, if you have a really big island if you have a
big island right there, that's abed hugo's like.
I gotta read the remarks moreoften, oh my gosh so let's go
into you know recently and inyou know, some people will say I
don't want to sign in my yard.
They say in today's times whydo we need to sign?
Just been there, done that?
(16:09):
Yep, me too, and it's okay, Iget it.
Some people just don't like asign, and that's fine, yeah.
But if you're one of thosethat's thinking I don't want to
sign because it doesn't work,okay, or that it's not important
, that's wrong Just considerthis, and this is what it says
Is for sale sign still important?
Absolutely.
It's the silent salespersonworking 24 seven in your front
(16:32):
yard.
Speaker 2 (16:32):
Boom.
Do you remember the percentageof buyers that come from a sign?
70%.
Speaker 1 (16:36):
Is that right?
It was around there.
70%, 70%.
Yeah, I don't know if that'sstill the case, but it is a
percentage.
Speaker 2 (16:43):
Years ago it was.
Speaker 1 (16:44):
It was years ago, the most recent one I think I saw
was what if it's?
Speaker 2 (16:46):
30%, I thought it was 17.
How many percents do you wantto give up?
It doesn't matter Exactly, itdoesn't matter how many percents
.
Do you want to give up?
Exactly?
No, I didn't think so.
No, never.
Speaker 1 (16:59):
Yeah, If it's 1%.
Speaker 2 (17:00):
I'm still putting the damn sign in the yard.
Speaker 1 (17:02):
No, but it is interesting that signs are.
You know, it is something.
But, like I said, I get somepeople that it's a privacy thing
or it's something that they orthey don't want the neighbors
being involved in their business.
But you know, and I get that,but for people that are thinking
it's just not needed butthey're not going to see their
neighbors anymore anyways.
There you go.
Speaker 2 (17:23):
That's the guy.
He's reading remarks now, isn't?
Speaker 1 (17:26):
he, yes, he is, yes, his memory's back.
Oh my.
Speaker 2 (17:30):
God, welcome back, hugo.
It's nice to see you.
Speaker 1 (17:33):
Did you see Hugo's new camera?
Do you have it hooked up?
Speaker 2 (17:36):
No, I didn't Okay.
Speaker 1 (17:39):
He has a new camera.
Speaker 2 (17:40):
It looks expensive, we'll show it to you.
Speaker 1 (17:42):
It's pretty funny.
Speaker 2 (17:43):
It's a good one it does a good angle.
Speaker 1 (17:44):
if you go, I'm sure.
So other thing that I had onhere too, this was a good
graphic and it's potentialgrowth in home equity over the
next five years, from 2024 to2029.
It's saying if you buy a$400,000 house, you have a good
chance of making $80,800 inequity.
(18:05):
You know how much you'd make inrent?
Oh, let's see Nothing.
Yeah, exactly.
So I mean that's a good stat,that's a great stat, it's a
really good stat.
It just shows you the potentialgrowth and it shows you how
wealth is built.
Speaker 2 (18:19):
Yeah Right, it totally starts with home
ownership.
Speaker 1 (18:26):
You know what that plays into.
The is the three.
Did you see the 3% interestrate?
Is it coming back?
Did you see that?
I did see that.
Was that on keeping currentmanners, yeah, so what?
Speaker 2 (18:30):
what's the answer to?
Speaker 1 (18:31):
that Pete Beautiful.
Speaker 2 (18:32):
What's the answer to that?
No.
Do you know what the 3%interest rate was?
I didn't know it.
I didn't have it put in this.
I didn't know it.
Speaker 1 (18:40):
I didn't have it put in these words, I didn't
actually read that, so tell me.
Speaker 2 (18:42):
That's what's great about KCM.
They put it, they dumb it down.
For guys like me, it's so good3% interest was never meant to
last.
The short-term response toemergency economic policies in
the pandemic is what caused the3% interest rate and then it
went too long.
(19:02):
Then it went too long.
It hung on there because theydidn't want to make a change,
because it was so good.
Speaker 1 (19:07):
Yeah.
Speaker 2 (19:07):
Yeah, so, and then they had to change it because
inflation yeah, it had to happenbecause of inflation.
Speaker 1 (19:14):
Right, isn't that something?
So it was there.
Speaker 2 (19:17):
So it was, it was, it was short term.
Speaker 1 (19:19):
Yeah, so it was done there on purpose.
On purpose, yes, to get thingsto go as a response to the
economy, yeah, it's because wewere tanking because of the
COVID Bing Bingo.
Speaker 2 (19:28):
It was short term focused already, so it's not
going to happen.
If it happens, it would be areason like that, that would
have happened before that wouldhave.
We don't see that happening.
No.
Speaker 1 (19:38):
Yeah, no, not at all.
Speaker 2 (19:39):
Focus on your budget, focus on your credit score.
Yeah, if rates come back down,guess what's going to happen?
You're going to be in morecompetition with other buyers
anyway, yeah, right.
So just keep looking for thehouse that you're looking for,
right?
And don't worry about so muchabout the interest rate, don't
give up.
Speaker 1 (19:56):
Right Don, right Don't give up If that thing gets
under the fives.
Speaker 2 (19:58):
I guarantee it's going to be swampland again.
It's going to be berserk oh itwill be Chaos.
Yes, you're going to see pricesgo crazy, so why put yourself
through that?
Get the house you want.
Speaker 1 (20:07):
I got to put my glasses on for this one because
I printed this out and I don'tknow if you guys can see it, but
it's like a two font yeah, yeah, this is.
I printed this puppy out andI'm like there's no way I'm
going without glasses, so I'mgoing to go with it and see if
we can read this here.
So, front door.
What's interesting is is um,we're going to be having an eye
doctor on here sometime in thefuture.
Speaker 2 (20:28):
Uh, so uh that'll be a good.
It's a good thing, veryappropriate, right, oh my gosh.
Speaker 1 (20:34):
So uh, no, but home projects for the best return.
I love this one new steel frontdoor.
You get a hundred percent ofthat hundred percent, yeah, I
saw that.
So that means painting it.
You get a hundred percent back.
I think so because paint's evencheaper than the whole frigate
door you definitely get ahundred percent paint.
Speaker 2 (20:50):
Yeah, especially that was a garage door right brad,
not the front door no, it saysnew steel front door.
Oh, it says the front door, youget a hundred% of that back.
Speaker 1 (20:58):
Okay, closet renovation, you get 93% back.
Whew, yeah, I would have neverguessed that.
93% New fiberglass front dooroh, that's different, that's
different.
So you get 80% of that back.
Speaker 2 (21:13):
Difference between steel and fiberglass and
fiberglass yeah.
Speaker 1 (21:16):
Maybe people the perception.
Speaker 2 (21:17):
I've never seen a fiber perception.
Speaker 1 (21:18):
Oh yeah, because it's heavier, maybe yeah there's a
lot of fiberglass front doorsnow.
Speaker 2 (21:21):
Yeah, and that's for insulation purposes.
Speaker 1 (21:23):
Right, right, Because steel.
If you ever feel a steel doorwhen it's really hot outside, it
comes through the door.
Speaker 2 (21:29):
You'll feel it on the door, oh yeah.
Speaker 1 (21:34):
Whereas fiberglass you won't feel it.
That's right, yeah, so it's% ofthat.
You get 74% of that back.
Speaker 2 (21:41):
On 10 grand, you get 7,400 back.
Yes, where are you?
Speaker 1 (21:45):
getting windows for 10 grand, three of them.
I was going to say what theheck?
What do you live in?
A camper, just a hotel, exactly.
Speaker 2 (21:54):
No, brad, but is there a time frame, though, that
it says that you would get thatmoney back, is it?
Speaker 1 (22:00):
immediate.
It doesn't, it does not saythat.
So you've got to take thesethings with a grain of salt, but
what it's trying to do, I thinkoverall it is probably
immediate.
Speaker 2 (22:09):
Yeah, because if you replace your door now, you're
going to get 100% of it back.
I think that's what it means.
Here you go, add a new bathroom.
Speaker 1 (22:14):
It's only 56.
Oh, that's a new bathroom, newbathroom.
Speaker 2 (22:17):
Not renovated Right.
Speaker 1 (22:19):
And a new primary suite 54%.
Speaker 2 (22:22):
Yeah, that makes sense.
Yep, Yep.
Speaker 1 (22:24):
Yep, that's funny right.
And then here's the bathroomrenovation.
Now, that's just a renovation,that's 50% also, oh yeah.
Speaker 2 (22:30):
Sure, but the point I'm trying to make with the-.
What's your point anyway Withgetting that money back if it's
five years old?
Speaker 1 (22:42):
The moral of the story is, if your front door
looks like crap, replace it,because you're going to get it
all back when you sell the house.
Speaker 2 (22:49):
You're going to get it back?
Yeah, especially if you paintit.
Speaker 1 (22:51):
The rest of the house looks like crap right.
It's roof is ruined, thewindows are ruined, but you get
that front door in there.
You're in business man, we canguarantee this.
We can, we can totallyguarantee you'll get the paint
money back.
Oh my, goodness they're like,oh, we're calling another
realtor.
I just I'll tell you, man,unbelievable well, you know, I
think I think that's all weneeded for today.
Speaker 2 (23:12):
It was all good hugo do you have any other questions.
Speaker 1 (23:17):
No, no, do you have any Gotcha?
Bought it back Bought it back.
Speaker 2 (23:21):
Very good, very good.
Yep, that's why I'm the host.
Speaker 1 (23:25):
All right, that's about it, all right.
Speaker 2 (23:27):
Thanks, pete for coming in here today.
I really appreciate it.
Speaker 1 (23:29):
We always have a good time with Pete's in here.
I hope you listen to this realestate show every thursday 7 pm.
We're on instagram, facebook,youtube everywhere you find a uh
a podcast.
That's where we are all right.
(23:50):
That's about it, thank you.
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