Talking Mortgages with Rock Realty

Episode Transcript

Speaker 1 (00:00):
Hey, thirty four thirteen ten WYBA and ask the experts
with Rockrealty online Rock Wisconsin dot com. That's our o
c K Wisconsin dot com. You can also interview a
buyer's agent on the website Wisconsin Buyeragent dot com. That's
Wisconsin Buyeragent dot com. Joined in study this morning my

(00:20):
Matt Hetman with Rock Realty and Matt, you brought a
familiar face along this morning. Who we got this week?

Speaker 2 (00:25):
Did I did?

Speaker 3 (00:25):
I brought Weskin from Thompson Cain. They are our preferred
lender of choice.

Speaker 1 (00:30):
Good to see os. How you been I've been great.

Speaker 4 (00:32):
How you doing this morning?

Speaker 1 (00:33):
And great? And I'm gonna guess we're gonna talk mortgages
this week. Yes, we are, sir lent excellent and we'll
get to that just a moment. And there's a lot
going on in the world of financing. But first we're
going to talk about our featured listing. And this listing
no bedrooms, no bath And I thought, how do you
have a listing with no bedrooms and no bath? Yeah?

Speaker 3 (00:54):
Got some acreage, yeah exactly, We've got a place to
build those bedrooms and baths. It's out in Marshall it's
on County Road T T and by the description here,
it's looking like it's about three quarters of the way
from some prairie to Marshall, so a short drive to
some prairie for everybody. It's listed at two hundred and

(01:15):
eighty five thousand dollars and it's six acres and there's
quite a bit of it looks to.

Speaker 1 (01:21):
Be wood wooded as well, so yeah, and it's got
and I'm just kind of looking at some of the
aerial photos. It looks like it's got like this nice
little you talk about that wooded area. It's also got
kind of like almost like an L shaped line of
trees that kind of goes down one side and then
across the front as well. And I'm thinking that is
the perfect place to to because then you're you know,
your little privacy.

Speaker 3 (01:41):
Yeah, yeah, no, Look, it's a beautiful little spot. It's
hard to find any sort of acreage. And you know
when small little quarter acre lots are running to you
one hundred and fifty, you know, six acres for too
eighty five. You can build a pretty cool house out
that way.

Speaker 1 (01:58):
Yeah, And Highway T T is super convenience. You can
get up to the Highway nineteen and get right down
to the interstate. It's a really great area to be
so you've got kind of the luxury of it all.
And of course the featured listing this week is represented
by Jason Allen. Give Jason a call six So wait
five one six, seven one five zero. That's five one
six seventy one fifty. And do you get a lot

(02:20):
of folks that are really looking for you know, kind
of looking for that little little slice of heaven, that
little little piece of land. I know it can be.
And it's amazing that we have this this morning. It
could be hard to find in this way.

Speaker 3 (02:31):
Absolutely, especially in Dane County. I think a lot of
people are looking for that little five acre sort of
farmat feel right, they want a house on it normally, yes,
but this offers, you know, the ability to build the
house of your dreams on a lot that's you know,
like you said, conveniently located. The perk tests has already

(02:53):
been done on it, and yeah, it's uh, it's ready
to go as far as getting the house built, thrown
in your your septic and uh and well and you're
good to go.

Speaker 1 (03:04):
All set. That is really cool. We'll feature it a
little bit more again in the meantime you haven't had
a chance, check it out online Rock Wisconsin dot com.
That's our ock Wisconsin dot com. Or give Jason a
call telphone number six to eight five one six seventy
one fifty. That's five one six seventy one fifty. So, uh, Wes,
I'm gonna ask you the question that everybody probably asks you,
where a rate's at?

Speaker 4 (03:26):
The million dollar question, shots dollar question. Well, we wish
they were lower, sure, but you know rates are hanging
around six eight seven five to six seven five percent.
You know, had some opportunity rates were a little lower
last week or a few people lucky enough, around six
and a half. But really it's just kind of been
a roller coaster ride up and down and kind of

(03:48):
somewhere between that six and a half to seven percent
is kind of where we been here the last sixty days.

Speaker 1 (03:54):
Well, if we've been spoiled, because I feel like you
talk about six six and a half percent, historically that's
quite low.

Speaker 4 (04:02):
It is, it really is. And I tell you, really,
since you know twenty ten on, we've been spoiled because
we've had rates anywhere from two and a half to
five percent all these years and what's happened the last
couple of years, you know, getting rates up in the
six to seven's, which is more historical. We just we

(04:22):
we we've had the best of the best so along
people just don't understand it.

Speaker 1 (04:27):
Yeah, it's it's it's sometimes you don't I say, you
don't know what you got till it's gone. Yeah, so good,
good opportunity right now, as we talk about where rates
aren't many when that comes into the equation, the question
for home buyers, that's that's got to be one of
the kind of the earlier questions they're wondering is like
what are obviously you're a firm to west, but kind
of questions about where rates are, isn't it? Yeah?

Speaker 3 (04:47):
Absolutely, And you know they want to know the big
questions of course, the monthly payment, right, and that can
include you know, the homeowners insurance as well as the taxes, right,
so as we know, taxes have gone up a bit
as well lately as the home price as have gone up.
So you know, it's just been it's just been such
a moving bar that you know, I think a lot
of buyers weren't jumping off the fence just because they

(05:09):
didn't know where things were going. But I think over
the last year we've gotten some stabilization and in rates
and a little more consistency, and you know, home price
is going up. So I think it'll be a good
thing for twenty twenty five.

Speaker 1 (05:21):
Looking at some of these some of these numbers here
when it comes to the price forecasts from some of
the groups out there, what are we seeing there, get
Fanny May and Zillo and others, what's kind of the
breakdown there?

Speaker 3 (05:33):
Yeah, I mean as far as the home prices go,
and they've got some expectations for you know, how much
they will rise in twenty twenty five, I think that, yeah,
we are getting a little bit more of a leveling off,
but I just don't see that home prices are going
to level off as well. I think that we're still

(05:54):
going to have a small increase across the board. So
Fannie May is expecting about three point six percent increases
in twenty twenty five for home prices. Realtor dot COM's
got it at three point seven, Zillow a little bit
lower two point six percent for home prices because there's
just there's still tight inventory even with the higher mortgage

(06:18):
rates there's only so many homes that people can shop for.

Speaker 1 (06:21):
Talking to this morning, of course with Matt Hetman along
with West Kine. West comes to us from Thompson Kine
Online Thompson Kine dot com. Of course, ask the experts
with Rockrealty their website Rock Wisconsin dot com. That's Rock
R O C K Wisconsin dot com. Wes with in
interest rates than where they are. Any advice to folks
thinking to hold off or is now the time to

(06:43):
take action?

Speaker 4 (06:44):
Well, I think if rates are high, rates are low
where we live in Dane County and Rock County, these areas,
it's it's always a good time to buy here. You know,
proof is in the pudding. It's always appreciated. It's going
to continue. I see in a stasistic that you know
in the next fifteen years, you know Madison's going to double.

(07:06):
So the thing is the one thing is somebody buy
and now there might not be as much competition. Let's
say these rates drop down below six percent, which is
a good chance that can happen in the next twelve
months eighteen months, You're going to have a lot of
competition and drive the price up. So the ability to
be able to buy something now and rates come down,

(07:26):
you can always refinance and get that take advantage at
a lower rate, and you're not paying twenty thirty fifty
grand more for the same house.

Speaker 1 (07:34):
What man for folks that are that are kind of looking,
What are some of the challenges some of those biggest
kind of hurdles that are facing both sellers and buyers
right now.

Speaker 3 (07:43):
Well, I would say on the seller side, you know,
many listings are sitting a little bit longer, but it's
it's not significant. You know, at the moment, every single
house that we have listed hasn't accepted offer. Oh yeah, so,
which is given it's February. So I do think this
spring is going to be hot, and I think that

(08:05):
the sooner buyers can get into the market. If you
can get if you can get out there and start
shopping for homes while there's still snow on the ground,
you've got an advantage over all the other buyers that
are waiting until the warm weather, because then you'll be
you'll be overpaying, you know, compared to where you're paying
for what you're paying right now, and.

Speaker 1 (08:23):
West are you saying that's that's same on the on
the mortgage side, with with folks the same kind of
we are.

Speaker 4 (08:28):
And you know, like Matt said, he hit the nail
on the head here the market we're in here A
lot of times there's a switch that turns on, and
it could be March first, February twentieth, March fifteenth. What
I've seen over the last several years. You know, you
get January. I always say super Bowl, right after super Bowl,
lookout and within thirty days there's like a switch and

(08:50):
it goes off, and you know there's more competition. So
you know, the people right now are trying to buy something,
I think got a better advantage than maybe thirty days
sixty days down the road, because the competition is going
to drive the prices up.

Speaker 1 (09:02):
So's what's going to man Like, if you're looking to
buy a home pre approval? How does I mean? I
remember back in the day that was kind of what
you want to do? Is that still the or is
it more or less? Or what For people that are
listening this morning saying, you know what we're looking to
looking to buy, what should the action should they be
taking and what's kind of that minimum?

Speaker 4 (09:20):
Well, I think the thing is to get pre approved
number one, And like I said, they can reach out
or go right to my website, you know, Thompson Kane
dot com to get pre approved or reach out to
me directly. But the key is there, you want to
be able to know what you're pre approved for, so
you're not going looking at houses that you know it's
not in your budget. And I think the realtors too

(09:41):
like to know so that you know they can send
them the houses that meets her criteria, which is huge.

Speaker 1 (09:47):
Yeah, and Matt with that, you know, working with with
with Thompson Kine and working with Wes as your preferred lender,
that's got to help too for for your agents having
that that obviously that relationship already well established, being able
to work back and forth and really help people narrow
down what they're looking for when it comes to buying
that home.

Speaker 3 (10:05):
Yeah, I would say that helps helps both buyers and
sellers that have to buy right. So on the buy side,
they've got a lot of different programs that put the
buyer up kind of ahead of other buyers in the market, right,
so they can come in with Thomson Kain's Cash Offer program,
which is a neat program that really gives the flexibility

(10:26):
to a buyer to be able to drop like financing
contingencies and such if needed, and it puts their offer
above other buyers and on the sell and buy side.
You know, one of the biggest issues is if you
have a home to sell and you want to buy,
the buy side's very difficult, right, It's hard to get
that offer accepted with a sale of home contingency. And

(10:49):
Thomson Kain can have some flexibility in that to make
sure that the transition transactions a little smoother and we're
able to make that thing happen, you know, doing two
transactions for one client.

Speaker 1 (11:00):
Well, it's fantastic when Wes let's talk about those features
that that Matt was just talking about. Sounds like, you know,
as we talk about some of the different hurdles that
folks that folks may face when getting lending, buying a home,
or selling a home, you guys have really worked to
completely clear those hurdles.

Speaker 4 (11:17):
You hit the dail on the head and like I said,
it's in our market here, it's almost impossible to write
off or contingent on selling your house. So the thing
is to be able to have products that hey, if
somebody needs to do a bridge loan or they need
a he loock to borrow money from the equity in
their house to buy the next house. Have the flexibility

(11:38):
and walk people through is the key factor. You know,
every client is different, their scenarios are different, and being
able to understand and you know, being able to walk
them right through what needs to be done on the
bridge loans A line is the credit. The cash offer
is huge. Sellers want cash offer. It's a game changer.
And what I found in this market is with our

(11:59):
cash offer for its beaten competition and it's getting better
prices on houses that doesn't have all the contingency flexibility.
That's one thing that Thompson came. We have it and
know how to work through it to help clients and
you know, get them accepted offers. It's as simple as that.

Speaker 1 (12:15):
With that, and Matt, I think you touched on it,
but I think maybe elaborate a little bit on this
is with that you know that cash offer and things.
Obviously your agents in the real world seeing this this
play out really does make make the deals move smoother
and far more, far more, far more likely to be
to be closed.

Speaker 3 (12:32):
Yeah, yeah, I mean it gives us more confidence with
our clients that if this is the house, right. You know,
let's say we've been through five houses and this is
the house, and you know they're competing. It's let's say
five with their buyers. Yeah, gives us the confidence to
go in and know that we have a good chance
of getting that offer accepted versus others people do.

Speaker 1 (12:53):
I don't think people realize you mentioned when you find
the house, how emotional that can be for the for
the you know, if you're if you're a home buyer,
you see this, you know, there's just something I think
and obviously you get to experience this on a daily basis.
Is people find that home and there's just something there
like this is this is perfect, this is the great neighborhood.
Walked in the front door, it just felt like something.

(13:14):
And to have, you know, working with it with a
great lender and have all of your ducks in a
row and having that confidence really allows you to kind
of to really enjoy that process. There's nothing worse than
walking through that front door, falling in love and then
having those those dreaded questions of like are you going
to be able to get this deal done? And what
a great you know, what a great experience having that

(13:36):
that team around you from from uh, you know, the
folks at Rock real Tea and of course the folks
at Thompson Kine having that put together.

Speaker 3 (13:43):
Yeah, and you know, you know, sometimes you notice the
house a day or two late. Oh yeah, and offers
are due and they're due that evening of the day
you walk through. And if you don't have your ducks
in a row, yeah, if you aren't ready to pull
that trigger, if you haven't already have those discussions with
your realtor to talk about the different contingencies that are

(14:03):
important to you, you can miss out.

Speaker 1 (14:06):
And yeah, that's that's not the best feeling.

Speaker 5 (14:09):
Now.

Speaker 3 (14:09):
The good feeling is when you're when you're on a showing.
It's usually this is what I notice, right If I'm
on a showing with buyers and they're just not really
motivated to leave the house during the show.

Speaker 6 (14:21):
That's technically a good Yeah, chilling in the living room
that you decided to sit on the couch like they're
watching TV.

Speaker 1 (14:29):
Yeah, that's that's really a good sign about a fantastic fit.
They're talking this morning, Matty. But of course Matt Comess
from Rock Realty Online, Rock Wisconsin dot com, that's Rock
r o. C. K Wisconsin dot com got a guest
along this morning, West Kane of Thompson Kane. Their website
Thompson Kane dot com. That's Thompson k A n E.
Thompson Kane all one word dot com. You can learn

(14:51):
more there as well. We're talking, we'll talk a little
bit more about real estate and mortgage lending. We'll do
all of that next meantime. M been to the website
Rock Wisconsin dot com. Get over there, check it out.
It's so much fun to check out the houses there.
And I've been thinking about listing your home, thinking about
buying a home. Of course you can learn more online
Rock Wisconsin dot com. Of course Rock Realty brings. You
asked the experts right here on thirteen ten WIBA thirty

(15:13):
TWIBA and asked the experts hanging out this morning with
that heintment of Rock Realty and Wes Kane of Thompson
kin And you know, we were just talking there. Wes
nights and weekends. Are you are lenders work nights?

Speaker 4 (15:26):
Guys?

Speaker 1 (15:27):
Aren't you guys kind of like bankers? So I would
assume there's like bankers hours. No, Now you're looking at
me like, yeah, bout time I wish.

Speaker 4 (15:35):
Yeah.

Speaker 2 (15:35):
Yeah.

Speaker 4 (15:37):
You know the world we live in and the mortgage
bank industry, you know, nights and weekends, and that's a
lot of times when the transactions go on. People get
off work and go look at houses. We're putting together
deals at six seven o'clock at night, Saturdays and Sundays.
You know, I kid friends sometimes that Sunday could be
my busiest day of the week. It happens we're next

(15:57):
day no nine o'clock till six o'clock. You know, people
are looking at houses one and get pre approved right offers.

Speaker 1 (16:03):
Oh that is that's great to hear you think about. Yeah,
and that's a good good point is when these when
this stuff is happening, you were we were talking to
it in the last segment about the cash offer program.
We got a little bit of Matt's perspective from the
real estate side. Let's talk about that that offer, that
that program from your side as a lender, this has
got to make uh, you know, nobody likes doing a

(16:25):
bunch of work for things that don't work out. I've
got a guess with this cash offer thing, guys are
able to get that work done and then see a
huge success rate because of it.

Speaker 4 (16:33):
It's really a game changer. We rolled it out three
years ago, and sellers when they're selling houses, they want cash,
they want to guarantee, and it's something that I realize
it's a need for my clientele. And what it does
is there's competition. It's going to get your offer accepted
because a lot of people a writing with regular pre approvals.

(16:53):
And then the other thing it does. I don't know
how many times we get a better price on the
house than just writing with the their preapproval. And I
notice a lot is we might not even be the
highest offer, and we get the offer accepted because it's
cash compared to somebody with the regular preapproval. So it's
really it's what I tell clients is a lot of

(17:15):
time what I see on average when you're doing if
you qualify for our cash offer, you're writing on one
or two houses and we're getting accepted.

Speaker 1 (17:22):
Oh that is great, and there's more give more information,
of course, Thompson Kine's website, Thompson Kine dot com. That's
Thompson ka n E all one word Thompson Kane dot com.
Of course, this is asked the experts with Rockrealty talking
with Wes Kine and Matt Heyman. Of course, Matt comes
to us from Rockrealty their website Rock Wisconsin dot com.
That's our o c K Wisconsin dot com. And and Wes,

(17:45):
I was going to ask you too about term lengths.
Is how long you know we think of like traditional
thirty fifteen year mortgages, And I was asking you is
there flexibility and your reaction this is probably one of
those where I wish we were on air during the
during the break because you're just like, oh, yeah, we can,
we can do it all. Very flexible.

Speaker 4 (18:04):
Yes, you know, if you want to eleven here mortgage, great,
We'll set you out whenever you want. Yeah, five year,
seventeen year, twenty two year, whatever you're looking for, we'll
set you up, get you taken.

Speaker 1 (18:14):
You'll take a sixty please, We're kind.

Speaker 4 (18:18):
Of limited on.

Speaker 2 (18:21):
Somebody say can you give me a hundred? Well, that
hasn't come into effect. Yeah, and I'll let you know
right away. Run and we'll let everybody know all that's up.
But that that is that is really really great stuff
for folks. And uh, Matt when working when working with
with home buyers and home sellers, and kind of seeing
how the how the process works out.

Speaker 1 (18:43):
Day in and day out. I know that one of
the things for buyers you guys really work with is
getting that that financing in place and having everything everything
set up for sellers. When when you have people potential
buyers coming in again with that cash offer and those
type of things, are your agents kind of pointing out like, hey,
this is you want to get this deal done, this

(19:04):
is this is the way to go.

Speaker 3 (19:05):
There's I mean, there's a number of things that can
make a deal fall through, right. Paramount is you know
the financing right, and if the homework can be done
ahead of time, which is what thoms Kain does, right,
They're not just.

Speaker 5 (19:21):
Given to anybody, but you know, giving it to qualified buyers, right,
and they know that the house value is there, right,
they can do things to make everything easier.

Speaker 3 (19:32):
And one of the things I wanted to mention was
when buyers have their ducks in a row, yeah they've
already talked to Thompson Kaine, they can close quicker too,
so oh yeah, I mean you could be closing in
ten fourteen days versus thirty days. And again a seller
that finds that very attractive.

Speaker 1 (19:49):
In the world of order it now on my front
doorstep tomorrow, or maybe even send some cases depending on
how earlier expediency is. I mean, the world moves so fast,
and that's that is interesting to not only the want
to buy the home, but the want to sell the
home as well.

Speaker 3 (20:05):
Is Yeah, at Rockrealty and thoms Kane we offer prime delivery.

Speaker 1 (20:09):
I love put that right talking this morning with Matt Hyman,
of course of Rockrealty online Rock Wisconsin dot com that's
Rock R O C K Wisconsin dot com. If you're
looking to buy, you can get to know the agent's
at Rock Realty. You can also set up a phone
call to send on over to Wisconsin. Buy your Agent
dot com. That's Wisconsin Buyer Agent dot com. All singular.

(20:31):
Check out that website and set up that appointment, start
that call, start that conversation. Of course, Joined and studio
by Wes Kane West is with Thompson Kane. If you
can learn more online Thompson Kane dot com mentioned you
know everybody having their stuff writing and qualified. Do you
ever run into a situation where somebody they want to
but now may not be the time. And are you
guys able to help people kind of assist them to

(20:53):
get that gets that goal. We do all the time.

Speaker 4 (20:56):
And the biggest thing there is times where you know,
people just don't know. Yeah, and you know, I'm able
to say, hey, let's let's pull everything, let's pull credit,
let's look at income, let's take a look at everything,
and then hey, here's the steps we need to do
to get you where you need to be. That happens
a lot and or we you know, if it's if

(21:17):
it's getting credit up, if it's working on income part
of things, on suggestions, maybe more for down payment. So
it's flexibility and educating buyers what they need to do
to make things happen.

Speaker 1 (21:30):
That is really really good to hear. Of course, talking
with West can this morning of Thompson Kane. Before we
wrap this morning, Matt, one more, look at this week's
featured listing, which is a six acre lot. This is
in you said, this is in Dane County. Yeah, so
it's a Marshall. It's six acres in Dane County. Can
you imagine?

Speaker 4 (21:49):
Can you?

Speaker 3 (21:50):
And it's only two hundred and eighty five thousand dollars
six acres partially wooded in between Marshall and some Prairie
andy Tt there and it's it's ready, it's ready for
that new build whether small or big, and just a
nice scenic place for a new construction home.

Speaker 1 (22:10):
Just about the perfect spot. Check that out. Of course,
you can learn more online at rock Wisconsin dot com.
That's Rock r Ock Wisconsin dot com or give just
give Jason a call. He is the agent on this.
Jason Allen telphone number six so eight five one six
seventy one fifty. That's five one six seventy one fifty.
Before we wrap wes any takeaways, any kind of thing
you wanted to share with folks. If there's one thing

(22:30):
that that people that are thinking about buying a home
or selling their home, one thing that they need to
be doing right now, what would you what would you
advise them?

Speaker 4 (22:38):
I would advise just to you know, get pre approved
right away. Yeah, you know, get prepared so you know
what you're dealing with so there's no surprises. And that's
one thing that you know. We can build a plan
for all clients and if their first time home buyer,
resisting home buyer, if they own a house, need to
buy another house, if they don't want to sell their

(22:59):
house before they buy the new ones so they have
time to move. Building a plan that is the key,
and we are fantastic at doing it.

Speaker 1 (23:06):
Really good stuff and really good, good piece of advice there, Matt.
It's always great seeing you, Yeah, but it's a great day.
Of course. The website Rock Wisconsin dot com wes great
to have you back as well. Yes, you, sir, have
a fantastic day, by the way, And I will tell
you they're both so much fun to hang out with.
And I think part of it is I think they really,
actually I know this, love what they do. And that's
one of the cool things about working with the guys,

(23:27):
whether the folks at Rockrealty of course, also the folks
at Thompson Kines just really really good folks. You can
learn more online, of course, Rock Wisconsin dot com, Thompson
Kaine's website, Thompson Kine dot com. That's Thompson ka n
e dot com. Vicky McKenna, she has chance for you
one a thousand dollars. You can even use that for
a down payment. She has that opportunity for you next
year at thirteen ten Wida