November 9, 2023 • 18 mins
Hi This is Brad Weisman - Click Here to Send Me a Text Message
Pete Heim is back as the FIRST guest on the NEW and Improved Podcast experience formerly know as Real Estate and YOU!
Welcome to The Brad Weisman Show, where we're breathing new life into the podcast with a brand new theme, a commanding voiceover, and captivating intro music written by Jeff Miller. My vision goes beyond the realm of bricks and mortars; we'll be engaging with a diverse range of topics and people, giving you a fresh perspective on life with a side of real estate.
Piqued your interest? We thought so. While we're shaking things up, we're not letting go of our roots entirely. We're also keeping you updated about the latest real estate trends and the state of foreclosures in the region. Gain a deeper understanding of the market dynamics as we discuss the rise in median list price, the impact on the second home market, and the importance of foreclosure numbers. Get ready to be enlightened with national statistics from Zillow, Fannie Mae, and the Mortgage Bankers Association. So, gear up for an exciting journey of discovery and knowledge on The Brad Weisman Show.
From Real Estate to Real Life and Everything in Between
#thebradweismanshow #realestateandyou #peteheim #bradweisman #realestate #reallife #everythinginbetween
We know self tanners. We love self tanners. To us, self-tanner for men are a necessary part of life. You see a pale dude on the street and he looks like a fish out of water. It's a real problem, bro. But this exact passion for self-tanner is why Bro Glo is so rad.
---
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
Credits - The music for my podcast was written and performed by Jeff Miller.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Hello, this is Brad Wiseman.
You're listening to Real Estateand you?
We are ready to be back.
What's up, what's up, brad?
What's up, what's up, what's up?
We're not Real Estate and youanymore.
Just look at the flag there onthe microphone.
You forgot.
Oh, that's right.
Speaker 2 (00:15):
So this is the new one.
This is the new one.
Speaker 1 (00:18):
Today.
Speaker 2 (00:19):
Starting with the Brad Wiseman show.
Yes, today.
Yes, okay, got it.
Speaker 1 (00:22):
Let's reshoot that.
One Took the sticker off.
I remembered that.
All right, so we'll start withthe new show.
New show, pete.
I'm sorry, are we wasting yourtime?
Oh, yeah, you are, we'rewasting your time.
Okay, it's soon gonna be thePete Heim show if we don't get
things done together here.
All right, let me see if I canfind the new music here.
Yeah, let me see here and therewe go.
(00:43):
I think this is it.
Let's try this again.
All right, here we go, grab it.
Speaker 2 (00:49):
From Real Estate to Real Life and Everything in
Between the Brad Wiseman showand now your host Brad.
Speaker 1 (00:57):
Wiseman.
Now that sounded pretty damnimpressive.
You know what's funny?
That new thing in the beginningthere sounds much better than I
am.
Speaker 2 (01:08):
It really does, it really does yeah.
Speaker 1 (01:10):
So, and the guy that did that is Jason Renald.
He did that for me, thevoiceover.
I have no idea who he is, bythe way.
Oh, wow, yeah, I just I hiredhim online.
I went to Fiverr, went online,I hired him and what a great job
, right, boy?
It's a great voice and themusic is written by Jeff Miller,
right here in Brooks County.
He's the one that wrote theintro for real estate.
And you, do you remember thatshow, real estate?
And you, years ago, yeah, yeah,do you remember that show?
(01:32):
I don't like that one.
You didn't like that one.
Yeah, that was this guy.
We took him off the mug.
No, but, pete, you are here forthe inaugural Brad Weissman
show.
Speaker 2 (01:42):
I am honored brother.
Speaker 1 (01:43):
Yeah, this is great.
I know we couldn't have beenwith a better person.
Oh, thanks, I'm serious man, itcouldn't have been with a
better person.
Yeah, so this is interestingbecause, you know, we did this
because we wanted to do someother things, right, you know?
I mean, we wanted to do, we dothe real estate thing, you know,
but we do a lot of other thingsbesides that.
So we want to change this up alittle bit and let's take a few
(02:03):
minutes if we can.
Speaker 2 (02:04):
Yeah, sure, I know this is our numbers podcast or
whatever, but yeah, let's, let'stalk why, man, what, what, what
brought you into this and what?
What's Brad Weissman show goingto do?
That's different, you know, wehave no idea.
Speaker 1 (02:15):
No idea.
We just, you know, Hugo and Iwere having a drink and we were
like, why don't we call the brat?
We were going to do the HugoCardona show.
Speaker 2 (02:23):
I like that.
Speaker 1 (02:24):
That's a night, it does sound really good.
Speaker 2 (02:25):
Actually, we should have done that Much better name
Action, yeah, exactly.
Right.
Speaker 1 (02:29):
So we just sat around .
No, I kept toying with the thethings of I wanted to do more
than real estate.
Right, wanted to do more.
You know, we had Chad Henne onand what I was always trying to
do is trying to wedge the guestinto a real estate topic somehow
.
Yeah, and Chad Henne was one ofthe ones, and also Stephanie
Teramina was was hard to do that.
You know, stephanie's a, youknow, a clothing designer.
(02:52):
She does purses and things likethat for women and it was hard,
like I mean, she's from here,but it was always trying to
force it and it's not good toforce things.
You know, if you can, if youcan do it organically, you can
do it.
That it's natural.
I think that's better.
So we kept going around withdifferent names.
I mean Hugo me, tony and Susiefrom Susie Ray Design.
We sat down and actually camethrough a ton of names Right, it
(03:16):
was Brad chat with Brad and youknow all even different names
didn't have my name in it and itjust kept coming down to.
You know, maybe we just youjust do the Brad Weissman show,
yeah, and not for an egotisticalthing, it's just that I'm, I am
real estate, that's what I do,yeah, but I also like to talk to
other people, right, and I likethe spontaneous curiosity is my
(03:36):
thing.
I love that.
Actually, that was one of thenames we came out with.
That was one I came out withthat got nixed right away.
They're like that is just adumb name.
I, hugo, I think you were theone that said yeah, no, that's
bad, that's just really bad.
But that's where, that's how ithappened.
Speaker 2 (03:50):
Well, real estate knew was your identity already.
So, yeah, yeah For you.
It makes sense to have it as aBrad Weissman show, because,
because real estate knew was you, yeah exactly.
So you have that following plus, you know, this really opens
you up, I think, to interviewingbusinesses or, you know,
getting more life perspectivesin here.
Speaker 1 (04:08):
And different people, artists and sports, and you
know, whoever it opens it up,that I can have anybody that I
want on the show.
I don't have to force theconversation to go into anything
about homes or real estate orlocation or anything like that.
So it makes it a lot easier.
So this was just a naturalprogression.
But we are going to do realestate.
We are going to do your show isgoing to be about real estate,
(04:29):
so when you're on that, that'llbe real estate.
I want to keep that going.
I want people to know that Iknow nothing else.
Speaker 2 (04:35):
I've done this.
Speaker 1 (04:35):
We were hoping you could juggle Can you juggle I
can.
You can juggle, I can juggle.
Next show you're going to haveto show is a juggle.
Speaker 2 (04:41):
I can, you can really juggle Just three.
I can't do more than that.
Ok, just three.
So you do the whole thing likethis oh, yeah, yeah, you know,
this is yeah, yeah, yeah, that'scrazy, it's all about timing.
Yeah, yeah.
Speaker 1 (04:50):
Yeah, I'm not so good at that.
That's a good.
So let's talk about some realestate here.
Ok, let's get into real estate,because that's what we do.
Yeah, we do.
Things are different, it'sdifferent, it's seasonal.
Seasonal.
That's it, we'll call itseasonal.
Speaker 2 (05:05):
Remember seasonal before COVID?
I do, I do remember seasonal.
Yes, yes, I think we're there.
Speaker 1 (05:09):
So what I did look up before we turned the
microphones on.
Here is the rates are doingthis.
Bum bum, bum, bum bum.
Dude they're down to 7.5% nowagain, it's like a roller
coaster.
Speaker 2 (05:20):
It is Within the last few days.
Speaker 1 (05:22):
It's unbelievable.
It's now 7.
I just looked it up 7.5% iswhat I saw on my app.
I think I know why.
Speaker 2 (05:27):
Why, well, the Fed came out with that announcement?
They weren't going to raise it.
However, they weren't going toguarantee not doing it in the
future, correct, so maybe theyall went, oh you know, and just
went OK, let's drop it down aquarter, or?
Speaker 1 (05:38):
whatever.
I think that a lot of peoplethought he was going to raise it
.
I know Because some of theinflation numbers that came out
were definitely not to our favor, so they were like, oh man, he
might raise this again.
So I think that's what happened.
I think there was things goingon there, but all of a sudden
people were like, oh, he's notraising it.
Now, if he doesn't raise itagain, they don't raise it again
(05:58):
.
Then I think that means thatwe're on the path of that.
They think it's going to calmdown.
Speaker 2 (06:03):
Going to calm down a little bit, which is good, I
think it will.
Speaker 1 (06:05):
Yeah, I think it will .
I think it will.
Yeah, it's weird Because mostpeople are like when you see the
jobs numbers come out andthey're really good, it's not
good for rates.
No, it's very right.
Yeah, it's funny.
Speaker 2 (06:17):
And that's that third affordability factor thing too
so you know, I know no one talksabout that with affordability
because it's just prices andinterest rates, but that
percentage of people's incomething which has to do with jobs,
which is a big deal.
Yeah, it's a big deal.
Speaker 1 (06:29):
Yeah, they call it the debt-income ratio.
Speaker 2 (06:31):
Yeah, it's still good yeah it is still good, it is
still good.
That's what's keeping peoplegoing.
Yeah, you know what?
Speaker 1 (06:36):
I was thinking.
Another thing I was thinkingabout today, pete, when I was
thinking about the show, is youknow what's interesting is?
We know, at one point, not toolong ago and Hugo knows this
because he was in the market nottoo long ago and there was
times when there was what?
25 showings, 30 showings wedidn't get the offer on one, you
know one of that one house ortwo houses.
Those people didn't disappearand they didn't get a house yet.
Speaker 2 (06:58):
That's right, they're still there, so they're on the
sidelines.
Speaker 1 (07:01):
They're on the sidelines right now waiting for
the rates to come down.
Yeah, I'm telling you, if thatrate gets below 7%, it's going
to go crazy.
Speaker 2 (07:08):
It is because now we're all kind of used to oh gee
, I hope so.
I hope it goes to 7%, yeah,Like we did 20 some years ago.
Speaker 1 (07:13):
Yeah, exactly.
Speaker 2 (07:14):
Exactly when it came to 7, we were like huh, yeah,
that was like a party and itwent nuts.
Yep, absolutely, and so I thinkyou're right.
I think it could.
If it goes 6.95 or something,boom, Yep.
Speaker 1 (07:23):
Yeah, I agree 100%.
Yeah, so it's going to beinteresting to watch.
Then I think, like I said,there's a lot of buyers on the
sidelines, yeah, and I got totell you, if you're a buyer,
keep that pre-approval ready togo, because keep it ready to go,
because you got to rememberalso, when that right house
comes out, you got to jump on it.
You got to jump on it and yougot to be ready, because you
don't have time to getpre-approved, that's right, you
(07:44):
know to get the house.
Speaker 2 (07:46):
Yep, and make sure you're really working with a
professional.
Yeah, absolutely, I mean, it'sso important right now.
Absolutely, I've, I've, I've,I've.
Know people that say, well, wejust want to, you know, we'll
call a listing when it comes upand all that.
And I said, look, you know,you're doing yourself a
disservice, man, you need, youneed help.
Speaker 1 (08:01):
Yeah, and in this, market and in this market, still
with the lower inventory.
What, what you got to remembertoo, is if you're working with
an agent, they get the veryfirst knowledge of anything
going on the market.
And I'm not saying that that we, we hold listings, we don't.
But if, if you say to me todayI'm getting a listing in Wilson
schools, in Warner farm, twoweeks from now, nothing wrong
(08:22):
with that, you could tell methat's happening.
I mean it's, you know, it'sgoing to happen, you know, you
know.
Darn well, I'm going to beasking you in two weeks hey,
what's up with that listing?
Oh, it's going on.
Tomorrow, boom, it hits themarket.
I'm already ready to show it.
Yeah, you know.
So that's the thing you got to.
You got to get that, that, thatinformation, right away.
Speaker 2 (08:39):
Well, the realtors talk yeah we talk I don't know
if you call it insideinformation.
I mean it's, it's likenetworking.
It's networking, it's likepre-information, it's going to
happen but, it's just like we'retalking about stuff it's hype,
it's hype, it is.
Speaker 1 (08:53):
Yeah, we're hyping the listing, and that's what the
seller is paying us to do.
That's what it's supposed to do.
Yeah, exactly, yeah.
So what are the numbers?
Speaker 2 (08:59):
do we have here?
Okay, so I was looking at thisthis one from.
Bright and one from Bright.
Yeah, and we don't usually talkregional much.
Speaker 1 (09:06):
Now tell me what you mean by regional.
Speaker 2 (09:08):
Regional is our multi-list system, which is
Where's the cover?
Skookle, Berks, and theneverything pretty much into
central Pennsylvania, down intonorth north central Virginia,
right.
Speaker 1 (09:19):
Okay.
Speaker 2 (09:20):
Baltimore, washington DC.
Speaker 1 (09:21):
Maryland, so it's a big area, yeah.
Speaker 2 (09:23):
It's a big region and coastal.
Speaker 1 (09:24):
Okay, yeah, ocean City, maryland, all those Yep,
all of them.
Speaker 2 (09:28):
Not Jersey coastal, but Philadelphia Metro and
Maryland Down into Maryland andDelaware, yeah and then.
But when you see prices andstuff like this, like the median
list price, weak ending October29,.
This is, by the way, for thewhole system, was 395.
Berks County was 342, themedian list price, median list
price, okay, list 395 in thisregion, yep, that we just
(09:52):
explained.
Berks was 342.
Speaker 1 (09:54):
That's interesting.
You know, I think we used to bea lot Lower than that as far as
an average in the area.
We used to be much lower thanthat.
Like a lot times the deltabetween the region, or like even
Lancaster County, has a higheryeah, higher median sale price
than we have.
Yeah, that's interesting.
Speaker 2 (10:11):
So we're not that far .
You know this firsthand, thoughthe short points are dropping.
Speaker 1 (10:14):
They are dropping?
Speaker 2 (10:15):
Yes, they are and so that's helping that number
Absolutely.
Second homes.
Speaker 1 (10:19):
That's the second home market.
You know, they always say thatit was just a real.
I remember asking a cop thisyears ago when I was down there,
and they said that thepopulation of Ocean City,
maryland, it's like 30,000people During the summer.
It's 300,000 new people everyweek.
Is that crazy?
You know, every week.
You know it's amazing aboutthat.
(10:40):
That's why there's a candy shopon every block, yeah, or every
so many blocks.
That's why, because every fiveor six blocks you've got 20,000
people.
Speaker 2 (10:49):
Seriously, you have a town.
Speaker 1 (10:50):
Yeah, you have a small town every, every, so many
blocks, so you're not gonna.
So if you want to get all thatmarket share, you need to have
several of those stores downthrough there.
Speaker 2 (11:00):
Yeah, yeah, it's crazy.
That's what was great aboutwhen we were just in on Kate May
, you know oh, yeah, yeah it'slike nobody yeah.
Speaker 1 (11:07):
Well that they said their town.
I, the guy was on the winhistorical tour in Kate May.
He said the guy that wasdriving our we did the the
trolley thing.
Oh, you did.
Yeah, their population in thetown is like I think 5,000 or
6,000.
Yeah, their population duringthe summer is 35 35,000, but
that changes like every week.
Yeah, that's the thing you haveto realize is that's changing.
Every week that's a new 35,000people, right?
(11:29):
Yeah, it's amazing, it's crazy.
It's why the short points makeso much money in a very short
time.
Speaker 2 (11:34):
Yeah, right, exactly, and that's.
That was part of that.
Speaker 1 (11:37):
Yeah, so that's what's happening is that it's
the second home market isdefinitely being affected.
Right, yeah, exactly yeah.
Speaker 2 (11:43):
I mean time on time until contract.
Basically, these days on marketis 19 regionally.
Okay, we're 17, we're a littlebetter.
Yep, last year this time wewere 21.
Speaker 1 (11:52):
Oh, yeah, yeah, which is weird, right, it is weird, I
mean well, the median listprice this time last year was
275.
Speaker 2 (12:00):
Wow list now.
Speaker 1 (12:01):
This includes now it's a 342.
It's 342 list now this the list, so we don't know what they're
getting.
Speaker 2 (12:06):
Yeah, and this is versus.
Yeah, Region yeah yeah, average, I mean average sold, we're up.
We're up October to Octoberit's three and a half percent.
I know we talked about seven.
Speaker 1 (12:19):
Yeah, but I think we went.
I think we were talkingdifferent numbers.
It was here to date.
Speaker 2 (12:22):
That's still good.
It's still good.
That's actually normal.
That's normal.
And if you look up the, thegraphic from that has like
Zelman on there Zillow, you knowthe all the ones that yep the
all-mighty.
Zillow, it's coming in at threesomething on the average.
Speaker 1 (12:37):
If I think, yes, 3.9% .
If you average out all six,it's 3.9%.
We're going to be there, we'reright there.
We're right at that averageRight now.
Speaker 2 (12:43):
October to October.
We could be higher if we golike we did last time.
We did year to date, yep, yep,and so it could be higher.
Yeah, it could be coming in atseven.
Speaker 1 (12:51):
It depends on what the months did.
Speaker 2 (12:53):
As you're coming, out Absolutely, which is still high
.
Speaker 1 (12:55):
Yeah, it's very good.
Yeah, yeah, it's very good.
And what's funny is all thesenumbers were adjusted because I
remember the beginning of theyear they were all saying that
it was going to be terrible.
It's going to be all negative.
They were almost all sayingnegative.
Speaker 2 (13:06):
They were almost all of them.
I think there was one that said0.1% or something.
It's amazing.
Now they're all in the six.
I think it was Zilla was what.
Five something.
Yep One said six something.
Speaker 1 (13:17):
Yeah, the 6.7 was Fannie Mae.
Fannie the Zilla was 5.5% andthe MBA, which is the Mortgage
Bankers Association, I think, iswhat that is, that was 1.5.
1.5.
Nar said 0.1%.
Speaker 2 (13:30):
Yeah, and we're averages at 3.9%, yeah, so yeah,
could very well be around there.
You don't think that wasinteresting and that's
nationally, by the way, you hadsent another chart that you'll
be seeing on here that it wasthe foreclosure.
Speaker 1 (13:41):
Yeah, it's still we're still good.
Speaker 2 (13:43):
We're way good.
Yeah, we're still good.
If you look at the graph, thatwas pre-pandemic.
Speaker 1 (13:48):
Yeah.
Speaker 2 (13:48):
Which we're not even quite there yet, 2019.
Speaker 1 (13:50):
And you got to remember there are foreclosures
in every market, it doesn'tmatter.
Speaker 2 (13:53):
You're always going to have them.
Speaker 1 (13:54):
Yeah, exactly, it's not like it's a bad thing.
It's going to happen.
You're going to have to turn itoff.
You know people lose jobs.
You've got people that justdon't pay their bills.
Speaker 2 (14:00):
You know this is the way it is, I'm getting a listing
that is going to bepre-foreclosure.
Okay, they've cut over $300,000of equity.
Speaker 1 (14:07):
That's incredible.
Speaker 2 (14:09):
I mean it's just because they haven't been making
their payment.
Yeah See, that's my thing whenyou look at this, foreclosure
activity rose and through.
Speaker 1 (14:15):
Does that mean that the bank has officially filed
for foreclosure on the property?
Yeah, so that doesn't mean itactually foreclosed no
pre-foreclosure.
So this is the during default,During default.
Speaker 2 (14:25):
But they didn't go through the sale process.
Speaker 1 (14:27):
Well, in this market like we've, said before, if
you're going, if you let it goback to the bank, you're not
that smart.
Speaker 2 (14:33):
No, I mean, there's equity there If you're in
trouble if you're in trouble,you know you're not going to be
able to make your payments.
Just get it on the market.
Speaker 1 (14:40):
Take the cash and run .
Speaker 2 (14:41):
Take the cash, figure out a rental for a year or
whatever, and then, yeah,exactly, definitely, I actually
have this townhouse right now.
I could.
I could rent you real quick.
Anyway, I'm sorry.
So right now we're going to puta townhouse up on the screen.
Oh no.
Speaker 1 (14:55):
Oh, my God.
Speaker 2 (14:56):
That's great.
And then the other one'sbankrupt, which is kind of an
interesting thing too, which isand bankruptcies is more of a
business wise more so than thanthan than.
Yeah, personal and exactly.
Speaker 1 (15:05):
Yeah, and that's actually still way.
It's still much lower thanpre-pandemic, much lower.
Speaker 2 (15:11):
Way lower.
And but you know what, if yousee that people's debt is higher
right now, people have higherdebt right now and that's the
sign of that little uptick there.
Yeah, absolutely, becausepeople are, oh, this is too much
, I'm going to file it.
Yeah, yeah, and those, and Ithink that's all sevens and 11s,
pretty much, yeah, thebankruptcies, I'm guessing.
So where do you see this going?
What do we see?
I think I think it's going to.
It's going to be quiet for alittle while, going through the
(15:34):
winter, but I really think, likeyou said, if those rates do get
down under seven which I think,really I think they will I
think spring is going to beberserk.
Speaker 1 (15:43):
Yeah, and that's that's kind.
Speaker 2 (15:45):
I really do, absolutely.
I mean, I think it's going tobe just like COVID.
I keep saying six months.
Speaker 1 (15:49):
There's going to be a six month law, yep, and in that
six month law is when thingsare going to get figured out.
There's there's two things thatcan happen.
Well, a couple things canhappen, obviously.
But one people get used to thehigh rate, yeah, and they come
back into the market, okay.
And while they're getting usedto that high rate, over the next
six months, inventory is goingto build.
It's going to build, it's justa natural.
(16:10):
We have less buyers right now.
We have less people buying, butyou have the same amount of
people putting their house inthe market, most likely, whether
it's estates, divorces,whatever.
You have a certain amount ofthings that just happen, okay.
So that's going to keep goingup.
Now they're either going to getused to the rate and say, screw
it, we're going to buy, orthey're going to be forced back
(16:31):
into the market because therates are going to go down below
six, seven percent or sevenpercent, okay, and I think as
soon as that dips below seven,it's going to go crazy.
Speaker 2 (16:38):
I agree, right, I totally agree.
Speaker 1 (16:41):
So it's either you get used to it or it's going to
be a good rate.
That comes up Exactly.
Speaker 2 (16:46):
And stick to your plan of when you need to buy or
sell.
Don't worry about buying andselling because of a market
condition or something.
Absolutely Stick to yourpersonal reason.
Speaker 1 (16:56):
Absolutely so.
I think we did the first showof this whole thing, which is
amazing.
We did the first show of theBrad Weissman show.
We got the new music.
Do you like the?
Speaker 2 (17:08):
music I do.
I like it.
It's like I want to be the.
We'll see that guy was playingthat tuba, yeah.
Speaker 1 (17:13):
Yeah, it's like futuristic too.
Yeah, roll up.
Yeah, it sounds really good.
Well, there you have it, thefirst Brad Weissman show.
It's kind of weird to have tothink about what to say, and you
know, I'm just saying my namethe Brad Weissman show.
Or just let the music play.
What do you think?
Just let it play.
Speaker 2 (17:29):
Just let it play.
All right, it's very nice.
Speaker 1 (17:31):
There, we have it All right.
Thank you so much.
We'll see you next Thursday at7pm.
Hello, this is Brad Wiseman.
You're listening to Real Estateand you?
We are ready to be back.
What's up, what's up, brad?
What's up, what's up, what's up?
We're not Real Estate and youanymore.
Just look at the flag there onthe microphone.
You forgot.
Oh, that's right.
Speaker 2 (00:15):
So this is the new one.
This is the new one.
Speaker 1 (00:18):
Today.
Speaker 2 (00:19):
Starting with the Brad Wiseman show.
Yes, today.
Yes, okay, got it.
Speaker 1 (00:22):
Let's reshoot that.
One Took the sticker off.
I remembered that.
All right, so we'll start withthe new show.
New show, pete.
I'm sorry, are we wasting yourtime?
Oh, yeah, you are, we'rewasting your time.
Okay, it's soon gonna be thePete Heim show if we don't get
things done together here.
All right, let me see if I canfind the new music here.
Yeah, let me see here and therewe go.
(00:43):
I think this is it.
Let's try this again.
All right, here we go, grab it.
Speaker 2 (00:49):
From Real Estate to Real Life and Everything in
Between the Brad Wiseman showand now your host Brad.
Speaker 1 (00:57):
Wiseman.
Now that sounded pretty damnimpressive.
You know what's funny?
That new thing in the beginningthere sounds much better than I
am.
Speaker 2 (01:08):
It really does, it really does yeah.
Speaker 1 (01:10):
So, and the guy that did that is Jason Renald.
He did that for me, thevoiceover.
I have no idea who he is, bythe way.
Oh, wow, yeah, I just I hiredhim online.
I went to Fiverr, went online,I hired him and what a great job
, right, boy?
It's a great voice and themusic is written by Jeff Miller,
right here in Brooks County.
He's the one that wrote theintro for real estate.
And you, do you remember thatshow, real estate?
And you, years ago, yeah, yeah,do you remember that show?
(01:32):
I don't like that one.
You didn't like that one.
Yeah, that was this guy.
We took him off the mug.
No, but, pete, you are here forthe inaugural Brad Weissman
show.
Speaker 2 (01:42):
I am honored brother.
Speaker 1 (01:43):
Yeah, this is great.
I know we couldn't have beenwith a better person.
Oh, thanks, I'm serious man, itcouldn't have been with a
better person.
Yeah, so this is interestingbecause, you know, we did this
because we wanted to do someother things, right, you know?
I mean, we wanted to do, we dothe real estate thing, you know,
but we do a lot of other thingsbesides that.
So we want to change this up alittle bit and let's take a few
(02:03):
minutes if we can.
Speaker 2 (02:04):
Yeah, sure, I know this is our numbers podcast or
whatever, but yeah, let's, let'stalk why, man, what, what, what
brought you into this and what?
What's Brad Weissman show goingto do?
That's different, you know, wehave no idea.
Speaker 1 (02:15):
No idea.
We just, you know, Hugo and Iwere having a drink and we were
like, why don't we call the brat?
We were going to do the HugoCardona show.
Speaker 2 (02:23):
I like that.
Speaker 1 (02:24):
That's a night, it does sound really good.
Speaker 2 (02:25):
Actually, we should have done that Much better name
Action, yeah, exactly.
Right.
Speaker 1 (02:29):
So we just sat around .
No, I kept toying with the thethings of I wanted to do more
than real estate.
Right, wanted to do more.
You know, we had Chad Henne onand what I was always trying to
do is trying to wedge the guestinto a real estate topic somehow
.
Yeah, and Chad Henne was one ofthe ones, and also Stephanie
Teramina was was hard to do that.
You know, stephanie's a, youknow, a clothing designer.
(02:52):
She does purses and things likethat for women and it was hard,
like I mean, she's from here,but it was always trying to
force it and it's not good toforce things.
You know, if you can, if youcan do it organically, you can
do it.
That it's natural.
I think that's better.
So we kept going around withdifferent names.
I mean Hugo me, tony and Susiefrom Susie Ray Design.
We sat down and actually camethrough a ton of names Right, it
(03:16):
was Brad chat with Brad and youknow all even different names
didn't have my name in it and itjust kept coming down to.
You know, maybe we just youjust do the Brad Weissman show,
yeah, and not for an egotisticalthing, it's just that I'm, I am
real estate, that's what I do,yeah, but I also like to talk to
other people, right, and I likethe spontaneous curiosity is my
(03:36):
thing.
I love that.
Actually, that was one of thenames we came out with.
That was one I came out withthat got nixed right away.
They're like that is just adumb name.
I, hugo, I think you were theone that said yeah, no, that's
bad, that's just really bad.
But that's where, that's how ithappened.
Speaker 2 (03:50):
Well, real estate knew was your identity already.
So, yeah, yeah For you.
It makes sense to have it as aBrad Weissman show, because,
because real estate knew was you, yeah exactly.
So you have that following plus, you know, this really opens
you up, I think, to interviewingbusinesses or, you know,
getting more life perspectivesin here.
Speaker 1 (04:08):
And different people, artists and sports, and you
know, whoever it opens it up,that I can have anybody that I
want on the show.
I don't have to force theconversation to go into anything
about homes or real estate orlocation or anything like that.
So it makes it a lot easier.
So this was just a naturalprogression.
But we are going to do realestate.
We are going to do your show isgoing to be about real estate,
(04:29):
so when you're on that, that'llbe real estate.
I want to keep that going.
I want people to know that Iknow nothing else.
Speaker 2 (04:35):
I've done this.
Speaker 1 (04:35):
We were hoping you could juggle Can you juggle I
can.
You can juggle, I can juggle.
Next show you're going to haveto show is a juggle.
Speaker 2 (04:41):
I can, you can really juggle Just three.
I can't do more than that.
Ok, just three.
So you do the whole thing likethis oh, yeah, yeah, you know,
this is yeah, yeah, yeah, that'scrazy, it's all about timing.
Yeah, yeah.
Speaker 1 (04:50):
Yeah, I'm not so good at that.
That's a good.
So let's talk about some realestate here.
Ok, let's get into real estate,because that's what we do.
Yeah, we do.
Things are different, it'sdifferent, it's seasonal.
Seasonal.
That's it, we'll call itseasonal.
Speaker 2 (05:05):
Remember seasonal before COVID?
I do, I do remember seasonal.
Yes, yes, I think we're there.
Speaker 1 (05:09):
So what I did look up before we turned the
microphones on.
Here is the rates are doingthis.
Bum bum, bum, bum bum.
Dude they're down to 7.5% nowagain, it's like a roller
coaster.
Speaker 2 (05:20):
It is Within the last few days.
Speaker 1 (05:22):
It's unbelievable.
It's now 7.
I just looked it up 7.5% iswhat I saw on my app.
I think I know why.
Speaker 2 (05:27):
Why, well, the Fed came out with that announcement?
They weren't going to raise it.
However, they weren't going toguarantee not doing it in the
future, correct, so maybe theyall went, oh you know, and just
went OK, let's drop it down aquarter, or?
Speaker 1 (05:38):
whatever.
I think that a lot of peoplethought he was going to raise it
.
I know Because some of theinflation numbers that came out
were definitely not to our favor, so they were like, oh man, he
might raise this again.
So I think that's what happened.
I think there was things goingon there, but all of a sudden
people were like, oh, he's notraising it.
Now, if he doesn't raise itagain, they don't raise it again
(05:58):
.
Then I think that means thatwe're on the path of that.
They think it's going to calmdown.
Speaker 2 (06:03):
Going to calm down a little bit, which is good, I
think it will.
Speaker 1 (06:05):
Yeah, I think it will .
I think it will.
Yeah, it's weird Because mostpeople are like when you see the
jobs numbers come out andthey're really good, it's not
good for rates.
No, it's very right.
Yeah, it's funny.
Speaker 2 (06:17):
And that's that third affordability factor thing too
so you know, I know no one talksabout that with affordability
because it's just prices andinterest rates, but that
percentage of people's incomething which has to do with jobs,
which is a big deal.
Yeah, it's a big deal.
Speaker 1 (06:29):
Yeah, they call it the debt-income ratio.
Speaker 2 (06:31):
Yeah, it's still good yeah it is still good, it is
still good.
That's what's keeping peoplegoing.
Yeah, you know what?
Speaker 1 (06:36):
I was thinking.
Another thing I was thinkingabout today, pete, when I was
thinking about the show, is youknow what's interesting is?
We know, at one point, not toolong ago and Hugo knows this
because he was in the market nottoo long ago and there was
times when there was what?
25 showings, 30 showings wedidn't get the offer on one, you
know one of that one house ortwo houses.
Those people didn't disappearand they didn't get a house yet.
Speaker 2 (06:58):
That's right, they're still there, so they're on the
sidelines.
Speaker 1 (07:01):
They're on the sidelines right now waiting for
the rates to come down.
Yeah, I'm telling you, if thatrate gets below 7%, it's going
to go crazy.
Speaker 2 (07:08):
It is because now we're all kind of used to oh gee
, I hope so.
I hope it goes to 7%, yeah,Like we did 20 some years ago.
Speaker 1 (07:13):
Yeah, exactly.
Speaker 2 (07:14):
Exactly when it came to 7, we were like huh, yeah,
that was like a party and itwent nuts.
Yep, absolutely, and so I thinkyou're right.
I think it could.
If it goes 6.95 or something,boom, Yep.
Speaker 1 (07:23):
Yeah, I agree 100%.
Yeah, so it's going to beinteresting to watch.
Then I think, like I said,there's a lot of buyers on the
sidelines, yeah, and I got totell you, if you're a buyer,
keep that pre-approval ready togo, because keep it ready to go,
because you got to rememberalso, when that right house
comes out, you got to jump on it.
You got to jump on it and yougot to be ready, because you
don't have time to getpre-approved, that's right, you
(07:44):
know to get the house.
Speaker 2 (07:46):
Yep, and make sure you're really working with a
professional.
Yeah, absolutely, I mean, it'sso important right now.
Absolutely, I've, I've, I've,I've.
Know people that say, well, wejust want to, you know, we'll
call a listing when it comes upand all that.
And I said, look, you know,you're doing yourself a
disservice, man, you need, youneed help.
Speaker 1 (08:01):
Yeah, and in this, market and in this market, still
with the lower inventory.
What, what you got to remembertoo, is if you're working with
an agent, they get the veryfirst knowledge of anything
going on the market.
And I'm not saying that that we, we hold listings, we don't.
But if, if you say to me todayI'm getting a listing in Wilson
schools, in Warner farm, twoweeks from now, nothing wrong
(08:22):
with that, you could tell methat's happening.
I mean it's, you know, it'sgoing to happen, you know, you
know.
Darn well, I'm going to beasking you in two weeks hey,
what's up with that listing?
Oh, it's going on.
Tomorrow, boom, it hits themarket.
I'm already ready to show it.
Yeah, you know.
So that's the thing you got to.
You got to get that, that, thatinformation, right away.
Speaker 2 (08:39):
Well, the realtors talk yeah we talk I don't know
if you call it insideinformation.
I mean it's, it's likenetworking.
It's networking, it's likepre-information, it's going to
happen but, it's just like we'retalking about stuff it's hype,
it's hype, it is.
Speaker 1 (08:53):
Yeah, we're hyping the listing, and that's what the
seller is paying us to do.
That's what it's supposed to do.
Yeah, exactly, yeah.
So what are the numbers?
Speaker 2 (08:59):
do we have here?
Okay, so I was looking at thisthis one from.
Bright and one from Bright.
Yeah, and we don't usually talkregional much.
Speaker 1 (09:06):
Now tell me what you mean by regional.
Speaker 2 (09:08):
Regional is our multi-list system, which is
Where's the cover?
Skookle, Berks, and theneverything pretty much into
central Pennsylvania, down intonorth north central Virginia,
right.
Speaker 1 (09:19):
Okay.
Speaker 2 (09:20):
Baltimore, washington DC.
Speaker 1 (09:21):
Maryland, so it's a big area, yeah.
Speaker 2 (09:23):
It's a big region and coastal.
Speaker 1 (09:24):
Okay, yeah, ocean City, maryland, all those Yep,
all of them.
Speaker 2 (09:28):
Not Jersey coastal, but Philadelphia Metro and
Maryland Down into Maryland andDelaware, yeah and then.
But when you see prices andstuff like this, like the median
list price, weak ending October29,.
This is, by the way, for thewhole system, was 395.
Berks County was 342, themedian list price, median list
price, okay, list 395 in thisregion, yep, that we just
(09:52):
explained.
Berks was 342.
Speaker 1 (09:54):
That's interesting.
You know, I think we used to bea lot Lower than that as far as
an average in the area.
We used to be much lower thanthat.
Like a lot times the deltabetween the region, or like even
Lancaster County, has a higheryeah, higher median sale price
than we have.
Yeah, that's interesting.
Speaker 2 (10:11):
So we're not that far .
You know this firsthand, thoughthe short points are dropping.
Speaker 1 (10:14):
They are dropping?
Speaker 2 (10:15):
Yes, they are and so that's helping that number
Absolutely.
Second homes.
Speaker 1 (10:19):
That's the second home market.
You know, they always say thatit was just a real.
I remember asking a cop thisyears ago when I was down there,
and they said that thepopulation of Ocean City,
maryland, it's like 30,000people During the summer.
It's 300,000 new people everyweek.
Is that crazy?
You know, every week.
You know it's amazing aboutthat.
(10:40):
That's why there's a candy shopon every block, yeah, or every
so many blocks.
That's why, because every fiveor six blocks you've got 20,000
people.
Speaker 2 (10:49):
Seriously, you have a town.
Speaker 1 (10:50):
Yeah, you have a small town every, every, so many
blocks, so you're not gonna.
So if you want to get all thatmarket share, you need to have
several of those stores downthrough there.
Speaker 2 (11:00):
Yeah, yeah, it's crazy.
That's what was great aboutwhen we were just in on Kate May
, you know oh, yeah, yeah it'slike nobody yeah.
Speaker 1 (11:07):
Well that they said their town.
I, the guy was on the winhistorical tour in Kate May.
He said the guy that wasdriving our we did the the
trolley thing.
Oh, you did.
Yeah, their population in thetown is like I think 5,000 or
6,000.
Yeah, their population duringthe summer is 35 35,000, but
that changes like every week.
Yeah, that's the thing you haveto realize is that's changing.
Every week that's a new 35,000people, right?
(11:29):
Yeah, it's amazing, it's crazy.
It's why the short points makeso much money in a very short
time.
Speaker 2 (11:34):
Yeah, right, exactly, and that's.
That was part of that.
Speaker 1 (11:37):
Yeah, so that's what's happening is that it's
the second home market isdefinitely being affected.
Right, yeah, exactly yeah.
Speaker 2 (11:43):
I mean time on time until contract.
Basically, these days on marketis 19 regionally.
Okay, we're 17, we're a littlebetter.
Yep, last year this time wewere 21.
Speaker 1 (11:52):
Oh, yeah, yeah, which is weird, right, it is weird, I
mean well, the median listprice this time last year was
275.
Speaker 2 (12:00):
Wow list now.
Speaker 1 (12:01):
This includes now it's a 342.
It's 342 list now this the list, so we don't know what they're
getting.
Speaker 2 (12:06):
Yeah, and this is versus.
Yeah, Region yeah yeah, average, I mean average sold, we're up.
We're up October to Octoberit's three and a half percent.
I know we talked about seven.
Speaker 1 (12:19):
Yeah, but I think we went.
I think we were talkingdifferent numbers.
It was here to date.
Speaker 2 (12:22):
That's still good.
It's still good.
That's actually normal.
That's normal.
And if you look up the, thegraphic from that has like
Zelman on there Zillow, you knowthe all the ones that yep the
all-mighty.
Zillow, it's coming in at threesomething on the average.
Speaker 1 (12:37):
If I think, yes, 3.9% .
If you average out all six,it's 3.9%.
We're going to be there, we'reright there.
We're right at that averageRight now.
Speaker 2 (12:43):
October to October.
We could be higher if we golike we did last time.
We did year to date, yep, yep,and so it could be higher.
Yeah, it could be coming in atseven.
Speaker 1 (12:51):
It depends on what the months did.
Speaker 2 (12:53):
As you're coming, out Absolutely, which is still high
.
Speaker 1 (12:55):
Yeah, it's very good.
Yeah, yeah, it's very good.
And what's funny is all thesenumbers were adjusted because I
remember the beginning of theyear they were all saying that
it was going to be terrible.
It's going to be all negative.
They were almost all sayingnegative.
Speaker 2 (13:06):
They were almost all of them.
I think there was one that said0.1% or something.
It's amazing.
Now they're all in the six.
I think it was Zilla was what.
Five something.
Yep One said six something.
Speaker 1 (13:17):
Yeah, the 6.7 was Fannie Mae.
Fannie the Zilla was 5.5% andthe MBA, which is the Mortgage
Bankers Association, I think, iswhat that is, that was 1.5.
1.5.
Nar said 0.1%.
Speaker 2 (13:30):
Yeah, and we're averages at 3.9%, yeah, so yeah,
could very well be around there.
You don't think that wasinteresting and that's
nationally, by the way, you hadsent another chart that you'll
be seeing on here that it wasthe foreclosure.
Speaker 1 (13:41):
Yeah, it's still we're still good.
Speaker 2 (13:43):
We're way good.
Yeah, we're still good.
If you look at the graph, thatwas pre-pandemic.
Speaker 1 (13:48):
Yeah.
Speaker 2 (13:48):
Which we're not even quite there yet, 2019.
Speaker 1 (13:50):
And you got to remember there are foreclosures
in every market, it doesn'tmatter.
Speaker 2 (13:53):
You're always going to have them.
Speaker 1 (13:54):
Yeah, exactly, it's not like it's a bad thing.
It's going to happen.
You're going to have to turn itoff.
You know people lose jobs.
You've got people that justdon't pay their bills.
Speaker 2 (14:00):
You know this is the way it is, I'm getting a listing
that is going to bepre-foreclosure.
Okay, they've cut over $300,000of equity.
Speaker 1 (14:07):
That's incredible.
Speaker 2 (14:09):
I mean it's just because they haven't been making
their payment.
Yeah See, that's my thing whenyou look at this, foreclosure
activity rose and through.
Speaker 1 (14:15):
Does that mean that the bank has officially filed
for foreclosure on the property?
Yeah, so that doesn't mean itactually foreclosed no
pre-foreclosure.
So this is the during default,During default.
Speaker 2 (14:25):
But they didn't go through the sale process.
Speaker 1 (14:27):
Well, in this market like we've, said before, if
you're going, if you let it goback to the bank, you're not
that smart.
Speaker 2 (14:33):
No, I mean, there's equity there If you're in
trouble if you're in trouble,you know you're not going to be
able to make your payments.
Just get it on the market.
Speaker 1 (14:40):
Take the cash and run .
Speaker 2 (14:41):
Take the cash, figure out a rental for a year or
whatever, and then, yeah,exactly, definitely, I actually
have this townhouse right now.
I could.
I could rent you real quick.
Anyway, I'm sorry.
So right now we're going to puta townhouse up on the screen.
Oh no.
Speaker 1 (14:55):
Oh, my God.
Speaker 2 (14:56):
That's great.
And then the other one'sbankrupt, which is kind of an
interesting thing too, which isand bankruptcies is more of a
business wise more so than thanthan than.
Yeah, personal and exactly.
Speaker 1 (15:05):
Yeah, and that's actually still way.
It's still much lower thanpre-pandemic, much lower.
Speaker 2 (15:11):
Way lower.
And but you know what, if yousee that people's debt is higher
right now, people have higherdebt right now and that's the
sign of that little uptick there.
Yeah, absolutely, becausepeople are, oh, this is too much
, I'm going to file it.
Yeah, yeah, and those, and Ithink that's all sevens and 11s,
pretty much, yeah, thebankruptcies, I'm guessing.
So where do you see this going?
What do we see?
I think I think it's going to.
It's going to be quiet for alittle while, going through the
(15:34):
winter, but I really think, likeyou said, if those rates do get
down under seven which I think,really I think they will I
think spring is going to beberserk.
Speaker 1 (15:43):
Yeah, and that's that's kind.
Speaker 2 (15:45):
I really do, absolutely.
I mean, I think it's going tobe just like COVID.
I keep saying six months.
Speaker 1 (15:49):
There's going to be a six month law, yep, and in that
six month law is when thingsare going to get figured out.
There's there's two things thatcan happen.
Well, a couple things canhappen, obviously.
But one people get used to thehigh rate, yeah, and they come
back into the market, okay.
And while they're getting usedto that high rate, over the next
six months, inventory is goingto build.
It's going to build, it's justa natural.
(16:10):
We have less buyers right now.
We have less people buying, butyou have the same amount of
people putting their house inthe market, most likely, whether
it's estates, divorces,whatever.
You have a certain amount ofthings that just happen, okay.
So that's going to keep goingup.
Now they're either going to getused to the rate and say, screw
it, we're going to buy, orthey're going to be forced back
(16:31):
into the market because therates are going to go down below
six, seven percent or sevenpercent, okay, and I think as
soon as that dips below seven,it's going to go crazy.
Speaker 2 (16:38):
I agree, right, I totally agree.
Speaker 1 (16:41):
So it's either you get used to it or it's going to
be a good rate.
That comes up Exactly.
Speaker 2 (16:46):
And stick to your plan of when you need to buy or
sell.
Don't worry about buying andselling because of a market
condition or something.
Absolutely Stick to yourpersonal reason.
Speaker 1 (16:56):
Absolutely so.
I think we did the first showof this whole thing, which is
amazing.
We did the first show of theBrad Weissman show.
We got the new music.
Do you like the?
Speaker 2 (17:08):
music I do.
I like it.
It's like I want to be the.
We'll see that guy was playingthat tuba, yeah.
Speaker 1 (17:13):
Yeah, it's like futuristic too.
Yeah, roll up.
Yeah, it sounds really good.
Well, there you have it, thefirst Brad Weissman show.
It's kind of weird to have tothink about what to say, and you
know, I'm just saying my namethe Brad Weissman show.
Or just let the music play.
What do you think?
Just let it play.
Speaker 2 (17:29):
Just let it play.
All right, it's very nice.
Speaker 1 (17:31):
There, we have it All right.
Thank you so much.
We'll see you next Thursday at7pm.
Popular Podcasts
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Therapy Gecko
An unlicensed lizard psychologist travels the universe talking to strangers about absolutely nothing. TO CALL THE GECKO: follow me on https://www.twitch.tv/lyleforever to get a notification for when I am taking calls. I am usually live Mondays, Wednesdays, and Fridays but lately a lot of other times too. I am a gecko.