November 13, 2024 • 41 mins
Dayna and guests talk about what they are seeing in the real estate market following the presidential election.
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Episode Transcript
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Speaker 1 (00:00):
Well, hello Southeast Texas, Welcome to this beautiful Saturday. We
are excited to share a wonderful show with you today.
I have Dene Hamilton. I also have Jessica Welborn, Katie Martin,
and our Sauceto on this show today, so you're not
going to want to miss it. We have great information
on what is going on in the market since the election,
(00:24):
so we're going to talk a little bit about what
things are looking like, not only for buyers in the market,
sellers in the market, and also are let's going to
talk a little bit about what does it look like
in the lending market too, for those mortgages. So we'll
get to that here shortly. But first I want to
give you a little bit of an update as to
what's going on today and what has been going on
(00:45):
the last several months. Well, you've heard me on this
show talk about that the market has been quite soft
over the last two years. We've seen our inventory significantly increase,
which is a great thing for our buyers. Now in
some price points, I'll have to tell you we don't
have that same inventory. There are some price points that
(01:07):
we need more properties on the market now as you
get into the higher price points, we do have a
higher inventory, but in those lower price points under three
hundred thousand, those homes are selling pretty quickly whenever they
come on the market, and so that inventory is a
little bit less. So let's talk to you specifically about
(01:28):
what you're looking at. We can give you exactly the
months of inventory in either the where you're wanting to
buy or if you're wanting to sell. So if you
need information on what's going on in the market that
you are in, give our office a call for zero
nine eight six six eight three two six, or you
(01:49):
can go to Danasimmons real estate dot com. Don't forget
the why, day Na Danasimmons real estate dot com and
we can make an appointment to sit down and visit
with you. It doesn't cost you a thing. It does
give us the opportunity to kind of sit with you,
go through the process and just educate you, give you
(02:09):
a guide on what you're looking at. We would love
the opportunity to do that. Our office is open eight
to eight Monday through Saturday, so if you need to
speak to someone during that time, we always have someone
answering the phone, a real person, So give us a
call again, four oh nine, eight six six eight three
two six. Now let's jump into some of the statistics
(02:30):
and what's going on. You know, I always say I
don't create the data, but I love looking at it
and giving you a little bit of an idea of
what the market has done. I'm using for September, I'm
using the Texas A and M University real estate centered data.
September of twenty twenty three, we saw a total number
of two hundred and eighty four sales closed. Well, in
(02:53):
September of twenty twenty four, not too much less, it
was two hundred and eighty sales closed. But what did
change pretty significantly was the months of inventory. We have
a months of inventory in September of twenty three of
five point seven, and that inventory increased in September of
(03:14):
twenty four to seven months of inventory. We also saw
a little bit of a dip in the average sales
price from about two hundred and forty four thousand to
about two hundred and thirty eight thousand. So one of
the things I have a lot of people talking to
me about is our houses selling. Absolutely, houses are selling.
(03:35):
The challenge is that many sellers out there are wanting
to price their property. Where the market was two years ago,
where we were seeing competing offers, that's not happening right
now in most price points. Now, I will tell you
in the last month we did have a house that
received multiple offers over asking price. So it's happening in
(03:57):
some areas, but not in all. So we would recommend
that you speak to an agent who can give you
the data. The data doesn't lie. It will tell you
exactly what the market is doing and it will show
you where you should be. When we look at the
October stats, we saw in twenty twenty three two hundred
(04:18):
and seventy one sales closed, and we're looking like we're
getting pretty close to that in October of twenty twenty
four right there around the same number, so pretty equal
in both years of October, So that is a pretty
good sign. When we look at November November of twenty
(04:38):
twenty three, we sold two hundred and twenty six total
sales with five point five months of inventory. The average
sales price then was two twenty six. We are still
waiting on that November data to be able to come in,
so we don't have exactly what that looks like. We
think November is going to be a little after this
(05:00):
year than it was last year, but we are very
hopeful for our December of this year to be better
than December of last year. So here with me today,
we're going to talk to the agents in my office
about what they're seeing right now in the market, and
then also what we think we're going to see now.
Just like a weather forecaster will look at the data
(05:23):
and make decisions based on that, we're doing the same
thing and based on our history. I've been doing this
almost thirty years, Katie almost twenty five years today, I
think it's twelve, and Jessica about six years. So we've
all been in the market for a while and seen
what things are doing. So we're going to share that
information with you here in just a little bit. But
(05:44):
first I want to get you to know the people
who work on my team.
Speaker 2 (05:49):
I'll tell you.
Speaker 1 (05:50):
I will have to say I have the best real
estate team and company, in my opinion, in all of
Southeast Texas. We have an amazing culture, have amazing people
who really care about each other and who really care
about our customers, and so I am so excited to
be able to share them with you today. We're going
(06:10):
to get started with Denay Hamilton, who happens to be
my daughter. And while she has been in real estate
for how many years is it, Tonay twelve? Twelve years?
While she's been a real she's had real estate around
her all her life, right, yes, So an additional I
don't even know well since about thirty years. So when
(06:32):
you were very young five five.
Speaker 3 (06:36):
Yeah, I had to think about that because I had
to think about how old I am.
Speaker 1 (06:39):
I know, I understand as we get older, we you know,
it's just a number. It doesn't matter anymore. So Denay,
tell everyone a little bit about you. So my name
is Denay Hamilton.
Speaker 3 (06:48):
I have a wonderful husband named Rian, and a sweet
three and a half year old I have to get
the half corrects me three and a half year old
daughter named Hattie, and and we are proud alumni. My
husband and I both went to Lamar University. He double
majored there, and I have my undergrad and masters from
(07:10):
Lamar and Hattie's in school here locally in Beaumont, and
we just love our area.
Speaker 1 (07:18):
Yeah, and I love participating in a lot of the
community events. You've done leadership Beaumont and really enjoyed doing
that with the Chamber of Commerce too.
Speaker 3 (07:29):
Yeah, leadership Pomont is great. It's a wonderful organization with
the Chamber. And I learned so much about Beaumont. I've
lived here my whole life thirty five years, and there
was I didn't think there was anything to learn, but
there is. There's so much I know.
Speaker 1 (07:42):
I remember when I first got on the CBB board
that's been that's the Convention and Visitors Bureau board many
years ago, and they started opening my eyes to the
lots of things that are out there. And so if
you are thinking you know it all about Beaumont, listen,
there are lots of things that are hidden gems that
I think we have to dig into. I try to
(08:03):
bring those here on the radio show so that I
can educate you guys to know that. One of the
Facebook posts is visit Beaumont. That's a great place to
go where they give you lots of information about what's
going on. But I'll tell you Beaumont has a lot
to offer.
Speaker 4 (08:18):
Yeah.
Speaker 2 (08:18):
Four h nine.
Speaker 3 (08:19):
Family also does a great job of keeping people posted
on events that are happening around town for the month,
around all of Southeast Texas, not just Beaumont, so I
appreciate that from them, But yeah, the Chamber is a
great way to get involved in different parts of the
city and with different people that you don't necessarily get
to meet all the time. So I've really enjoyed it.
Speaker 1 (08:41):
Yeah, I love being a part of the Chamber, and
so I'm of course love to bring my daughter along Tea.
Also with us is Jessica Welborn. Now, Jessica, tell everyone
a little bit about you.
Speaker 5 (08:52):
I am like you, said Desco Welborne married to James
RTT at twenty seven years. We celebrate our annivers very soon.
We have four kids, Riley, Daxon, Rory and Dane. Riley
and Dyson are grown and out of the house, and
Rory is actually a freshman at Mississippi State. We miss
her very much, and Dane is our only kiddo at home.
(09:15):
So we are currently very proud members of the Booster
Club for the Vit Mighty Pirate Marching Band. We spend
a lot of time with the band and enjoy it.
We also go to First Baptist Inviter where we work
with youth and married couples too.
Speaker 2 (09:31):
So yeah, and don't forget the grands.
Speaker 5 (09:34):
Oh yeah, the three grand boys. They are Rhett, John, Luke,
and Elijah from five to almost one, and we are
excited for Christmas.
Speaker 2 (09:43):
It's gonna be fun.
Speaker 1 (09:44):
New stage of life that we're in with being empty nesters.
You're almost an empty nester. I'm an empty nester and
enjoying and loving those grand babies. So those of you
out there who are grandparents know exactly what I'm talking about,
and those of you who aren't are going well, she
talks about it all the time.
Speaker 2 (10:01):
I can't help it.
Speaker 1 (10:02):
It's the best thing, Katie Martin, tell everyone a little
bit about you.
Speaker 4 (10:06):
Yes, I'm Katie Martin. My husband is Robert with Artie
Martin Electric always put in the free plug for him.
Speaker 1 (10:13):
Well, because listen, actually I knew Robert before I knew you.
Speaker 2 (10:17):
Yeah, really, I.
Speaker 4 (10:18):
Knew you before I knew Robert.
Speaker 1 (10:21):
Maybe well, Artie Martin Electric has been our preferred electric
vendor since I started in real estate, you know, thirty
years ago. So I knew Robert's dad and then got
to know Robert. And so I'm telling you, when you
plug Artie Martin Electric, people can know. It's not just
because they're family, it is because they do a great job.
Speaker 4 (10:41):
Yeah, we were on the show together last time and
that was a bit of a trip. So y'all ever
want to go back for some entertainment, go back to
that podcast.
Speaker 2 (10:49):
It was fun.
Speaker 4 (10:51):
But I am looking forward to being a grandparent someday.
Right now, I have a middle schooler and a high
schooler who so I'm ready to skip some of the
next But it's fine.
Speaker 2 (11:02):
You and I were talking this morning.
Speaker 1 (11:03):
It's all about training, training, and more training.
Speaker 2 (11:07):
Yes, just takes time.
Speaker 1 (11:08):
Ye.
Speaker 4 (11:09):
You have wonderful girls, by the way, they really are.
And I just got a notice on my phone from
my oldest daughter. She took the PSAT and did very well,
so I'm proud of her. She'll't be listening to this,
but good job, Poppy. Yes, I have Poppy and Cora,
and we're also involved with our church in the youth
(11:30):
group as well, and we're also the Booster Club, like
two of the seven members. Do you ever want to
contribute to Legacy Christian Academy? Hit me up?
Speaker 2 (11:41):
So I love that, you know what.
Speaker 1 (11:43):
I love the way that our team not only you
know we're faith based, we all participate in activities at
our churches, but we're also participating in activities in our
communities because we do believe in giving back, and our
community has given us so much and we care. I mean,
it's a real heart for service. It's a servant's heart
(12:05):
that leads us to do the things that we do
within our community.
Speaker 4 (12:09):
So I love that about Amen's sister.
Speaker 3 (12:11):
Yeah.
Speaker 1 (12:12):
Now, also with this Arlette Salsado and ar Let is
First Financial mortgage lender. And Arlett, We're so glad you're
here today.
Speaker 4 (12:20):
Thank you.
Speaker 6 (12:21):
I'm so happy to be here, Dana. Like you said,
I am Arlette Salsato, mortgage bilingual mortgage lender at First Financial.
I do have a amazing supportive husband whose name is
Candelario Salsato, but he really goes by Juni. He really
doesn't really go by Candelario. Nobody really knows that.
Speaker 2 (12:39):
And I have they do well.
Speaker 6 (12:42):
He throws everyone off at work because for the longest
he used Juni. He's junior, so whenever he presents himself,
they say you have to use your legal name. So
now he has to use his legal name. But I
have two wonderful kids and they're so creative. They are
lex He's about to beat ten. Eddie Berta is about
to be seven and the creativity that runs in those
(13:04):
two kids. I tell you, like, LEXI made a video
the other day and I posted it on Facebook because
I just had to share it, and like there is
transitions and everything, and I was just like, I don't
know how.
Speaker 3 (13:14):
To do that?
Speaker 2 (13:15):
Or is she looking for a marketing job?
Speaker 3 (13:17):
Hey, you know when you want to hire her?
Speaker 6 (13:19):
No, but they're honestly, they're great. I love my little family,
but I also love working in mortgage lending. So I'm
excited to be here.
Speaker 1 (13:26):
Yeah, and we consider you a part of our family too.
Even though you're not with Dana Simmons real Estate, we
think of you as Dana Simmons real Estate. So we're
so glad you're here with us. Well, we have an
exciting show. We're going to share a lot about what
we're seeing happening now, but also what we're thinking is
going to happen in the next several months and even
next year. What do we think twenty twenty five is
going to look like? So you don't want to go away,
(13:48):
come right back. This is the Dana Simmons Show. Welcome back,
This is Dana Simmons. We have a show today that
we are trying to give you information about what we
think might happen in the next weeks and months and
next year in the real estate market. With me today,
I have our Lett Salsato and or Let. We have
been talking before about this. You are a mortgage lender
(14:11):
with First Financial Bank, and we've talked in the past.
You've been on the show several times about how the
rates over the last thirty years. The average rate over
the last thirty years is seven point seven percent. And
while we got really used to having three percent rates,
that really wasn't what is a norm. But then rates
(14:34):
did go up in twenty twenty two, like July of
twenty twenty two, things went up and then they went
up again. But tell me what you're seeing this year
and what you think may happen over Listen, here's what
I know. You don't have a crystal ball, and none
of us know exactly what might happen, but just based
(14:55):
on your what you see, we'd just love to hear
your thoughts out that.
Speaker 6 (15:00):
Yeah, so that's everyone's favorite question to ask. They want
to know what's going to happen to rate. It's what's
changing and what have you seen. I think one of
the biggest things is that we have seen them trend
downwards since the beginning of the year. So that's always
good news because then that interest buyers to go out
and be able to make more offers and whatnot. But
they're always volatile, so just like they can trend downward,
(15:23):
they can also go up. So we've seen that just
within the past couple of months, the past couple of weeks.
It changes, it can always change. So while I can't
predict what's going to happen next year or end of
the year, whatever it might be, I will say that
I'm hopeful that they will continue to trend downward and
then we'll just kind of take any changes that come
(15:46):
with it, because while they can trend downward, they can
also go up or stay at a study pace hopefully.
Speaker 2 (15:51):
Yeah.
Speaker 1 (15:51):
And really where they are right now is less than
the average over the last thirty years. I mean, we're
not seeing anything over eight percent. We're really seeing them
the majority of things here lately have been and I
know it can go higher than that, but what we've
seen lately is under seven point seven percent. So when
people get anxious about a rate, I think it's the
(16:14):
perspective that is is not right because their perspective is
that it should be three or four percent, when that
wasn't a realistic rate. Thankfully, we a lot of people
did get it though. I mean for a long time
there were oh, it was like people were buying houses
(16:34):
like all the time and multiple offers on properties. But
the challenging thing with that when that happened was multiple
offers on properties, and so people were paying over asking price.
They were paying inflated amounts in order to get into
those properties. And so right now, even though the interest
rate is higher than three or four percent, it's a
(16:57):
decent rate right now.
Speaker 6 (17:00):
Rates right now especially for like our first time home
buyers and everyone, they're able to go in purchase that
home and then always have that hope to just refinance
later on down the road whenever they're ready, and it
gives them that opportunity right now, if especially those first
time buyers to be able to ask for like sellar
paid contributions and things like that that before they weren't
(17:22):
able to ask for. So we were just seeing people
needed to come out more out of pocket, and while
they were having a really good rate, they were spending
more upfront, and a lot of people can't afford that
right now.
Speaker 2 (17:32):
That's right. Well, I love that you brought that point out.
That is great.
Speaker 1 (17:35):
But the other thing I want our listeners to know
is that you also have some creative financing on things
that are outside of the box. It's not just faha
va conventional. You have a few things that would allow
people to get into a home when they think they can't.
Speaker 6 (17:50):
Yeah, we do. He actually made some good changes to
it recently where we've uped the income limits because a
lot of things that come with no down payment options
or whatever usually have like an underlying factor, just additional
underwriting requirements. But we've made a few changes. We've increased
our income limits, so we do have options that'll let
you finance or go into your home with maybe no
(18:14):
down payment, if any closing costs, depending on what you're
able to negotiate at that point.
Speaker 1 (18:19):
Yeah, and that zero percent down that you're talking about
on one of those, it's a conventional loan.
Speaker 6 (18:25):
It is a conventional loan with no cap on the
amount of sellar paid contributions you're getting. So usually when
you have a cap to it, you know you still
have to come out of pocket. Some you might still
have your down payment but on this particular program, you
don't have a cap to that amount of sellar paid contributions.
So in those cases you can come out maybe your
earnest money, and even in the case you may be
(18:45):
able to get some of that back or come very
little to closing.
Speaker 3 (18:48):
Right.
Speaker 1 (18:49):
So I think the moral of this story right here
is for people to just call you, let you sit
down and look at their situation. Because some people think, oh,
I can't afford to how when they can and they
are able to because they're paying a monthly rent amount
and they just don't have all the cash they need,
(19:09):
so they're able to sustain the monthly notes and it
allows them to become homeowners, which is building their own
wealth and investing in themselves and not in someone else.
So the key would be for them to just sit
down and talk to you, right, and then you can
go through everything.
Speaker 6 (19:26):
Yes, that's always the number one option, because if you
give me a call, we can go over what your
options are, and we can go over why one program
may be more beneficial than the other. And then if
you really want to just sit down and be like,
this is what I think I can afford realistically, then
we'll go over those options, and if we can't figure
it out right now, right this second, we can definitely
figure it out for the next three six months whenever
(19:49):
you're ready.
Speaker 2 (19:50):
Yeah.
Speaker 1 (19:50):
It gives them an opportunity to say, this is the
goal I want to achieve, and it allows you to
give them steps to get there.
Speaker 6 (19:56):
Yep, and we go over it. And then if you're
happy with those steps, then we just make that game
plan and we work to it and we stick to it,
and then three six months down the road, you can
be a homeowner.
Speaker 1 (20:07):
Yeah, And or that you are able to work with
people all over Southeast Texas right.
Speaker 6 (20:12):
Right, We can work with people all over the state
of Texas, but more specifically Southeast Texas because that's where
we like to kind of have our estimates.
Speaker 2 (20:19):
Well, you know, you know the people here.
Speaker 5 (20:21):
You know.
Speaker 1 (20:22):
One of the things that I see come up a
lot that can be a challenge is when we're working
with an out of state lender who doesn't quite understand
all the requirements that we have here. And so for me,
it's so important for a buyer to make sure they're
using a local lender who understands about our windstorm insurance,
who understands about the flooding issues in different places and
(20:45):
where flood is required. But the other side of that
are lot is these are the people who are in
your community. These are the people who are just like you,
who are contributing in so many different ways in your community,
which I see you out there everywhere contribute in the community.
Speaker 2 (21:01):
These are the.
Speaker 1 (21:02):
People who donate to your little leagues and your ballet.
So using an in area person who gives better service,
in my opinion, is a way better situation than trying
to find someone out of the state.
Speaker 6 (21:18):
And you bring up a good point with that, because
a lot of the times, you know, depending on how
we do our loan, it might go on the secondary market,
which that's just a fancy work. You'll forget about that.
But you may make your payment to a different investor,
you may make your payment to a different bank, whatever.
So whenever that happens, a lot of the times people
have questions with their escrow and after the fact they
(21:40):
still contact me. So they'll come into the office and
they'll be like, hey, like, I know I don't make
my payments here anymore, but I have this that's come
up and I don't know how to handle it. Can
you help me with that, and I'm still I'm glad
to help help that customer with that because that's something
that maybe I can easily understand and I can see
what they need to do to take care of that,
versus they're right there sending down looking at that mortgage
(22:03):
statement or that notice that they received on their scrow
shortage or whatever it might be, and they're analyzing it
and they're like, but I don't get it. I don't
understand what they want from me.
Speaker 1 (22:12):
Yeah, And so you're able to service that lifelong really
for them because you are there. That's the other challenges.
I've had people call me and say, I don't know
who to call about this because they got a loan
from someone you know on the internet, and that person's
not there anymore, and they don't bet no one can
tell them what to do. Having a local lender, buying local,
shopping local. I'm just so about that because if we
(22:34):
want to reinvest in our area and community, we've got
to do that with our people. So or let if
someone wants to visit with you, tell us how they
get in contact with you.
Speaker 6 (22:43):
They can give me a call at four O nine
four seven four one five zero three. They can also
shoot me a text or they can email me at
a salsato at f fi n dot com. And that's
a sauce like the tomato sauce do at f fi
N dot com.
Speaker 2 (23:00):
I love that, That's all, you know. It's funny.
Speaker 1 (23:02):
Every time I write your name, I have to do
that sauce do A sauce do as the only way
I can remember how to spell it. So I love
that you helped me out that way and help everyone
else else out that way. One of the things I
know about our lat I've worked with you for a
long time now, is that more than just wanting to
get the deal done, you care about the people and
(23:22):
your heart is in the right place to want to
do that. So if you want to work with someone
who really cares about you and wants to work at
your best, your goals and meet your goals, give Arlet
a call. Well, when we come back, we're going to
talk to Katie Martin about what's going on with sellers
right now in the real estate market. So don't go away.
(23:43):
This is Dana Simmons with the Dana Simmons Show. Welcome back.
This is Dana Simmons with the Dana Simons Show, and
we are so excited to have our team here. I
have Katie Martin, who is a listing agent for Dana
Simmons real Estate. And Katie, you've been selling real state
about twenty five years, right.
Speaker 4 (24:02):
Yes, but I'm not old, no, no, because you started
when you were very young.
Speaker 2 (24:06):
Yeah.
Speaker 1 (24:07):
The other side of that is you've been through quite
a few election cycles, and so we've seen over the
many years we've been in real estate, we've seen that election.
Speaker 2 (24:20):
Ye're softened a bit.
Speaker 4 (24:22):
Yes, Yes, it's a big sigh beginning.
Speaker 1 (24:27):
And so we've seen a little bit of that happening
right now, and you've seen the inventory increase. But what
do you see happening right now? And what do you
anticipate will happen in the next several weeks, months and
next year.
Speaker 4 (24:44):
Yeah, So it's not even just the election. I think
it's just the world changes. And once you've seen that
go through a few times, it gives you a different
perspective of things. You're going to wake up the next
day and the world's going to keep turning, and we
just keep selling real estate. I think the biggest thing
for us is that we're always adjusting and adapting depending
(25:07):
on what's happening in the market. So there's some things
that may have worked last year or the year before
that aren't working now and vice versa. And at Dana
Simmons real Estate, we always try to stay on top
of not only the market, but also marketing and just
you know, seeing what works and what doesn't work for
our sellers. But yeah, I think I think so many
(25:31):
people were holding their breath this year and just living
in a kind of constant state of anxiety and fear
and now what, regardless of who you voted for or
what the outcome was, I think there's going to be
a new norm at some point.
Speaker 2 (25:46):
So we're very.
Speaker 4 (25:47):
Hopeful for twenty twenty five. We have a lot of
industry in our area specifically that we think will start
thriving again, and so that's going to bring a lot
of people in and out. Housing should should go up,
and hopefully, you know, our inventory goes down a little bit.
I think we need to get to a healthy place
(26:09):
with our inventory, not so many months of inventory in
certain you know, price points and not in others and
things like that. So we don't have a crystal ball
like everybody's been saying, but we are very hopeful, and
I see already the phone started ringing more.
Speaker 1 (26:25):
Yeah, we have since the election seen the phones start
to buzz. But before the election happened, a lot of
people I would see the conversations because I get to
look at all of that, and the conversations were, we're
just holding, We're just holding, We're just holding.
Speaker 4 (26:42):
We're going to call you in January.
Speaker 2 (26:44):
Yeah, that's what we heard. So January should be very good.
Exactly what we're thinking.
Speaker 4 (26:48):
There's nine thousand people calling.
Speaker 1 (26:51):
Well, and that's why I say, if you were a
buyer out there thinking about buying, I really think now
is the best time. And so we're going to talk
to Jessica and Tonay in a little bit about why
we think that now is really good. But it's to
your point. You hear people talking about it's going to
(27:12):
be in January. But in our office already we are
seeing the number of listings begin to grow.
Speaker 4 (27:18):
And I think it's a good time for people to
get prepared right now to the holidays are about to
come upon us. And some years have been my best
month in December, and some years have been my worst
month in December. So that's kind of an iffy thing,
but I think it is a good time just to
get all of your information. If you're on the fence,
(27:41):
go ahead and make an appointment and come talk to us.
Because while I might give you numbers right now, that
might change next spring, maybe for the better, maybe for
the worse. We don't know. But at least you can
kind of know the process and what to expect if
you are getting ready to list. So I would say
that's very important. Go ahead and get the conversation started.
(28:04):
There's no pressure. I'm the least pressuring person. I think
that I know, but I do want to get you informed,
so that's important.
Speaker 1 (28:16):
Yeah, and I think you do a great job of that,
of just educating them using the data. One of the
things that is your strong suit is that you love
numbers and you love data, and so it's I know,
many times we'll have sellers come in to the office
where they've been listed with another agent for six months
and we'll say, so, help us understand how you came
up with your list price and they'll say, well, we
(28:39):
just picked a number.
Speaker 2 (28:40):
Yeah my agent told me. Yeah.
Speaker 4 (28:42):
I'm like, well, why why did did they give you
any data?
Speaker 2 (28:46):
Yeah?
Speaker 1 (28:46):
So for us there's never a we think it's here's
what the market is saying, here's what these comps are showing.
While the seller gets to make the choice of what
they want to do, and sometimes they choose to price
the house higher than what we recommend. Yes, it's just
part of it that we do give them the data
(29:07):
and we allow them to make the decision on where
they want to go. I think it's pretty interesting that someone,
occasionally it will come to us want our advice, and
then after you twenty five years and me thirty years
of doing this, and we give them a value and
then they're like, well, I think I want to do
it at this price.
Speaker 2 (29:26):
I just it's well.
Speaker 1 (29:28):
They they usually regret it, Yes, they do well, and
that's part of the challenge. And I think that's part
of the situation right right now with some people who
are still in the market. If a property is still
on the market, we have seen some movement and so
but like I said in the beginning of the show,
there are some people who still want the values that
(29:49):
we had two years ago and they're not there right now. Well.
Speaker 4 (29:51):
And I think a big part of it too is
when the interest rates were so low, so many people
got into homes at the inflated prices. Yes, and now
they're upside down and they don't know what to do.
And that's not their fault, it's not our fault.
Speaker 2 (30:06):
It's just it's just the market.
Speaker 4 (30:07):
And that's I mean, real estate is always going to
be a gamble most of the time. It's a very
secure investment long term.
Speaker 1 (30:16):
It's one of the most secure investments, right.
Speaker 4 (30:18):
I think people don't under and there's so many things
involved the first five years of owning a home, not
even just maintenance and stuff like that, but closing costs
and you know, you're paying most of your interest upfront
on a new mortgage, so it's hard to get ahead.
So if I can get them to a break even
point after two years, three years, that's a win for us.
(30:42):
So those are the type of expectations when you come
in and meet, we can go over your whole scenario together.
Speaker 1 (30:48):
Yeah, And I think that's the key is talking through
the process. What is your what is your goal and
how can.
Speaker 2 (30:55):
We help you achieve it? And is it possible or not?
Speaker 1 (30:59):
So with the holiday upon us, how do the holidays
impact selling real estate?
Speaker 4 (31:05):
Yeah? The things I would say for the seller mostly
if you are about to list and we're about to
take photos, please wait and put your holiday stuff after
the photos, if you can at all, or at least
pear down a lot. Yeah, just because if it does
stay on the market for three to four months, you know,
nobody wants to see your Christmas tree in April. Yeah,
(31:28):
and I don't want to have you to have to
pay to get new photos. So that's that's something that
I would say, maybe just hold off if you can,
or some people want to take their photos a month
or two in advance so they can go ahead and
decorate and all that stuff a week or two. Yeah,
that's one thing. And what was the other thing, Oh,
(31:49):
showing your home during the holidays can be extremely frustrated
if you have family in and stuff like that. So
I would say just keep an open mind, flexible, and
just communicate to us if you don't want it shown.
We can always block off times that it's not allowed
to be shown, so we can work with you on
stuff like that. But that's really the biggest frustration I've seen.
(32:13):
And then if you do sell right around the holidays,
moving and coordinating.
Speaker 1 (32:19):
Yeah, and we can work all of that out. You know,
we have opportunities to be able to negotiate with the
buyer on all of that. So that shouldn't be the
thing that makes you not but it is something you
have to think about.
Speaker 4 (32:31):
Yeah, the biggest thing is don't stress about it. We
will work out a plan. Absolutely, There's rarely a time
we can't. Katie, I'm so glad that you've given us
some really good tips for our sellers. And when we
come back, we're going to talk to Jessica and Tonay
and talk about is now the right time to buy?
Speaker 1 (32:45):
So don't go away. This is Dana Simmons with the
Dana Simmons Show. Welcome back. This is Dana Simmons and
I have as guests on my show today are let
Salsado with First Financial Bank. She was giving us information
on what is going on in the mortgage world and
what you can expect potentially with mortgage rates in the
(33:06):
next several weeks and months. We are seeing that rates
over the last year have gone down and we are
very hopeful that that will happen again in twenty twenty five.
But we'll just have to wait and see because who
really knows, none of us, but we are hopeful for
that then Katie Martin gave us an update on what
is happening in the world of sellers and what she's
(33:29):
seeing with sellers and what properties are selling, and what
you can do if you want to list your house
during the holidays, what you can expect. Now we're going
to shift over to Jessica Welborn and Nay Hamilton and
they are working with buyers and so Jessica, let's talk
a little bit about what is going on right now
that you're seeing with buyers.
Speaker 5 (33:52):
Well, I'm still seeing buyers. They're buying houses, yes, always,
but you know, giving there there now we now have
the opportunity to look a little more and not to
be as rushed. It is a quieter time of year,
so they, you know, can really get more of their likes,
(34:13):
more of what they're looking for, maybe take a little
bit more time and be a little more picky. And
that's okay because it's a big investment. You know, it's
great to not be so rushed and not just have
to jump at the first opportunity. There's always a sense
of urgency because if you're looking at a house today,
someone else gotta looked at it yesterday or last week,
and they may be a step ahead of you, So
(34:35):
of course, when they find the one that they like,
we want to move forward as quickly as possible. But
it does give you a little bit more time to
get more on your list, you know, to check off
more boxes well.
Speaker 1 (34:47):
And so what are you seeing is you've given us
a little bit of insight on the differences from about
two years ago to today. We absolutely, even since last year,
we're seeing a pretty significant increase in the inventory year
over year. So what other things are you seeing that
sellers are willing to do for buyers in this time?
Speaker 5 (35:07):
Yeah, I think last year was knee jerk reaction that buyers,
I mean, sellers were still really hoping to get everything.
But I think now they've kind of rolled around into
the fact that the reality is they may have to
do some negotiating. And so I am seeing buyers that
get closing costs assistance from their sellers, or they get
(35:27):
more repairs made or new construction is a different story.
We can negotiate a lot in new construction if it's
been sitting for a bit, So it's really helpful to
get those things well.
Speaker 1 (35:40):
And the situation may change in January. You know, we
were just talking about the fact that what we had
seen prior to the election was the conversations where we're
waiting until after the election, or we're waiting until after
the first.
Speaker 2 (35:54):
Of the year.
Speaker 1 (35:55):
I believe there is pent up demand out there for
people who really want to buy a but they just
really wanted to see what was going to happen.
Speaker 2 (36:03):
I agree.
Speaker 5 (36:03):
And an election certainty, they don't, you know, and whether
you know whether things have gone exactly the way they
wanted or not, it's just the uncertainty that makes people
hold tight. You know. We all pull our people in
and just hold tight, like I think Katie said, take
a breath or hold their breath until they know something.
And so once you know, we have to say we
(36:24):
trust an unknown future to a known god. Yes, and
so we can still proceed with that, you know, but
just to know where we are a little you know,
a little more certainty I guess in our future, and
then they can proceed with the dreams that they've had.
Speaker 4 (36:40):
You know.
Speaker 5 (36:40):
I think some people make New Year's resolutions too, and
here we are approaching the end of the year, and
maybe they're like, okay, now now we're ready to jump for.
Speaker 1 (36:48):
It, you know, it's also after the holidays and they're like, Okay,
we don't have enough room in this house.
Speaker 5 (36:52):
Oh yeah.
Speaker 3 (36:54):
So I think that's what everyone realized in COVID. That's
why there's such Everyone realized how small or a space
in their house as much closer contact because everyone was
home at one time, which is not always the case.
And so yeah, I think that's always all such a
surge after not only the interest rates, but people are like,
we need a pull, we need a space, we need
(37:15):
outdoor area. Yes, yeah, we just need that room, that
one room for an office if they had to a
lot of people went from never working at home to
you know, needing to occasionally work from home. So that
brought about like a whole new realm of needs in
my opinion too. So yeah, and I love that.
Speaker 1 (37:33):
You brought that up because getting that list of needs.
Speaker 2 (37:37):
One of the things that.
Speaker 1 (37:39):
We require of every before we take a buyer out
is a buyer consultation. And so talk a little bit
about why we do that and what the purpose.
Speaker 2 (37:50):
Of that is.
Speaker 3 (37:51):
So we do a buyer's consultation for a lot of reasons,
one being we want to go over the important documentation
that you're going to have to sign before entering homes
now that the laws have changed, so it gives us
a chance to be able to thoroughly explain those to
you so that you know what you're signing and that
you feel comfortable and confident and moving forward. And then
(38:12):
also it lets us get to know who you are,
what your family life is like, what your needs once
lifestyle is like, so that we can help find your
house for you. So I think a lot of times
because of you know, we have so many different platforms
where people and buyers can look for homes, which is great,
(38:34):
but also at the same time, like your agent, if
they are doing what they're supposed to, they should have
knowledge of what to look for for you, even sometimes
better than what you think you're looking for. There's so
many underlying things. As an agent, you're able to pick
those things up, and it's great whenever you're the one
(38:57):
to find the property for them, and that's really how
it should be. So I think the buyer consult helps
with that tremendously because it's just very quick way of
getting to know someone better than just opening the door
for them and what do you like about this one
house we're seeing, and what do you not like about it?
Speaker 1 (39:16):
Yeah, it is a very important time for you to
kind of get into the head of the buyer to
figure out what they need. Instead of them finding the house,
you want to be the person to help find the
house for them, and sometimes what they think and what
they're searching for on the internet. You may be able
to tweak that a little bit and they don't even
think about that. And you've I know you've done it
(39:38):
many times.
Speaker 3 (39:39):
Yes, many times. I can't tell you how many times
I've said let's go take a look at this one
and they've been hesitant for whatever reason because pictures it
is so hard to tell over a computer screen how
the house is really laid out. I mean, technology is wonderful,
but there's nothing like actually going into the home, seeing
it for yourselves and then being able to picture you
(40:00):
and your family and oh, I can see the Christmas
tree going in this corner, and those types of things
that you can't see or get that same feeling over
the computer.
Speaker 1 (40:09):
Same thing with a neighborhood, I mean driving through the
neighborhood and walking in the backyard and getting the feel
of what what is this entire home like? Not just
how many bedrooms, baths.
Speaker 2 (40:21):
And what is the pink color?
Speaker 3 (40:22):
Right exactly?
Speaker 1 (40:23):
Yeah, so lifestyle, I think you brought it up is
the most important thing. So we would love to be
able to sit down and talk to you about those things.
Please give our office a call if you would like
to set an appointment with one of our agents. It
is of no obligation to you. We just love to
sit down and visit with you. Four oh nine eight
six six eight three two six That is actually four
(40:45):
oh nine eight six six team, or go to Danasimmon's
real estate dot com and you can request an appointment
there as well. Thank you ladies, this has been such
a fun show. We are all praying we have an
amazing twenty twenty five and we are are extremely.
Speaker 2 (41:00):
Hopeful for that.
Speaker 1 (41:01):
Have a great Saturday.
Well, hello Southeast Texas, Welcome to this beautiful Saturday. We
are excited to share a wonderful show with you today.
I have Dene Hamilton. I also have Jessica Welborn, Katie Martin,
and our Sauceto on this show today, so you're not
going to want to miss it. We have great information
on what is going on in the market since the election,
(00:24):
so we're going to talk a little bit about what
things are looking like, not only for buyers in the market,
sellers in the market, and also are let's going to
talk a little bit about what does it look like
in the lending market too, for those mortgages. So we'll
get to that here shortly. But first I want to
give you a little bit of an update as to
what's going on today and what has been going on
(00:45):
the last several months. Well, you've heard me on this
show talk about that the market has been quite soft
over the last two years. We've seen our inventory significantly increase,
which is a great thing for our buyers. Now in
some price points, I'll have to tell you we don't
have that same inventory. There are some price points that
(01:07):
we need more properties on the market now as you
get into the higher price points, we do have a
higher inventory, but in those lower price points under three
hundred thousand, those homes are selling pretty quickly whenever they
come on the market, and so that inventory is a
little bit less. So let's talk to you specifically about
(01:28):
what you're looking at. We can give you exactly the
months of inventory in either the where you're wanting to
buy or if you're wanting to sell. So if you
need information on what's going on in the market that
you are in, give our office a call for zero
nine eight six six eight three two six, or you
(01:49):
can go to Danasimmons real estate dot com. Don't forget
the why, day Na Danasimmons real estate dot com and
we can make an appointment to sit down and visit
with you. It doesn't cost you a thing. It does
give us the opportunity to kind of sit with you,
go through the process and just educate you, give you
(02:09):
a guide on what you're looking at. We would love
the opportunity to do that. Our office is open eight
to eight Monday through Saturday, so if you need to
speak to someone during that time, we always have someone
answering the phone, a real person, So give us a
call again, four oh nine, eight six six eight three
two six. Now let's jump into some of the statistics
(02:30):
and what's going on. You know, I always say I
don't create the data, but I love looking at it
and giving you a little bit of an idea of
what the market has done. I'm using for September, I'm
using the Texas A and M University real estate centered data.
September of twenty twenty three, we saw a total number
of two hundred and eighty four sales closed. Well, in
(02:53):
September of twenty twenty four, not too much less, it
was two hundred and eighty sales closed. But what did
change pretty significantly was the months of inventory. We have
a months of inventory in September of twenty three of
five point seven, and that inventory increased in September of
(03:14):
twenty four to seven months of inventory. We also saw
a little bit of a dip in the average sales
price from about two hundred and forty four thousand to
about two hundred and thirty eight thousand. So one of
the things I have a lot of people talking to
me about is our houses selling. Absolutely, houses are selling.
(03:35):
The challenge is that many sellers out there are wanting
to price their property. Where the market was two years ago,
where we were seeing competing offers, that's not happening right
now in most price points. Now, I will tell you
in the last month we did have a house that
received multiple offers over asking price. So it's happening in
(03:57):
some areas, but not in all. So we would recommend
that you speak to an agent who can give you
the data. The data doesn't lie. It will tell you
exactly what the market is doing and it will show
you where you should be. When we look at the
October stats, we saw in twenty twenty three two hundred
(04:18):
and seventy one sales closed, and we're looking like we're
getting pretty close to that in October of twenty twenty
four right there around the same number, so pretty equal
in both years of October, So that is a pretty
good sign. When we look at November November of twenty
(04:38):
twenty three, we sold two hundred and twenty six total
sales with five point five months of inventory. The average
sales price then was two twenty six. We are still
waiting on that November data to be able to come in,
so we don't have exactly what that looks like. We
think November is going to be a little after this
(05:00):
year than it was last year, but we are very
hopeful for our December of this year to be better
than December of last year. So here with me today,
we're going to talk to the agents in my office
about what they're seeing right now in the market, and
then also what we think we're going to see now.
Just like a weather forecaster will look at the data
(05:23):
and make decisions based on that, we're doing the same
thing and based on our history. I've been doing this
almost thirty years, Katie almost twenty five years today, I
think it's twelve, and Jessica about six years. So we've
all been in the market for a while and seen
what things are doing. So we're going to share that
information with you here in just a little bit. But
(05:44):
first I want to get you to know the people
who work on my team.
Speaker 2 (05:49):
I'll tell you.
Speaker 1 (05:50):
I will have to say I have the best real
estate team and company, in my opinion, in all of
Southeast Texas. We have an amazing culture, have amazing people
who really care about each other and who really care
about our customers, and so I am so excited to
be able to share them with you today. We're going
(06:10):
to get started with Denay Hamilton, who happens to be
my daughter. And while she has been in real estate
for how many years is it, Tonay twelve? Twelve years?
While she's been a real she's had real estate around
her all her life, right, yes, So an additional I
don't even know well since about thirty years. So when
(06:32):
you were very young five five.
Speaker 3 (06:36):
Yeah, I had to think about that because I had
to think about how old I am.
Speaker 1 (06:39):
I know, I understand as we get older, we you know,
it's just a number. It doesn't matter anymore. So Denay,
tell everyone a little bit about you. So my name
is Denay Hamilton.
Speaker 3 (06:48):
I have a wonderful husband named Rian, and a sweet
three and a half year old I have to get
the half corrects me three and a half year old
daughter named Hattie, and and we are proud alumni. My
husband and I both went to Lamar University. He double
majored there, and I have my undergrad and masters from
(07:10):
Lamar and Hattie's in school here locally in Beaumont, and
we just love our area.
Speaker 1 (07:18):
Yeah, and I love participating in a lot of the
community events. You've done leadership Beaumont and really enjoyed doing
that with the Chamber of Commerce too.
Speaker 3 (07:29):
Yeah, leadership Pomont is great. It's a wonderful organization with
the Chamber. And I learned so much about Beaumont. I've
lived here my whole life thirty five years, and there
was I didn't think there was anything to learn, but
there is. There's so much I know.
Speaker 1 (07:42):
I remember when I first got on the CBB board
that's been that's the Convention and Visitors Bureau board many
years ago, and they started opening my eyes to the
lots of things that are out there. And so if
you are thinking you know it all about Beaumont, listen,
there are lots of things that are hidden gems that
I think we have to dig into. I try to
(08:03):
bring those here on the radio show so that I
can educate you guys to know that. One of the
Facebook posts is visit Beaumont. That's a great place to
go where they give you lots of information about what's
going on. But I'll tell you Beaumont has a lot
to offer.
Speaker 4 (08:18):
Yeah.
Speaker 2 (08:18):
Four h nine.
Speaker 3 (08:19):
Family also does a great job of keeping people posted
on events that are happening around town for the month,
around all of Southeast Texas, not just Beaumont, so I
appreciate that from them, But yeah, the Chamber is a
great way to get involved in different parts of the
city and with different people that you don't necessarily get
to meet all the time. So I've really enjoyed it.
Speaker 1 (08:41):
Yeah, I love being a part of the Chamber, and
so I'm of course love to bring my daughter along Tea.
Also with us is Jessica Welborn. Now, Jessica, tell everyone
a little bit about you.
Speaker 5 (08:52):
I am like you, said Desco Welborne married to James
RTT at twenty seven years. We celebrate our annivers very soon.
We have four kids, Riley, Daxon, Rory and Dane. Riley
and Dyson are grown and out of the house, and
Rory is actually a freshman at Mississippi State. We miss
her very much, and Dane is our only kiddo at home.
(09:15):
So we are currently very proud members of the Booster
Club for the Vit Mighty Pirate Marching Band. We spend
a lot of time with the band and enjoy it.
We also go to First Baptist Inviter where we work
with youth and married couples too.
Speaker 2 (09:31):
So yeah, and don't forget the grands.
Speaker 5 (09:34):
Oh yeah, the three grand boys. They are Rhett, John, Luke,
and Elijah from five to almost one, and we are
excited for Christmas.
Speaker 2 (09:43):
It's gonna be fun.
Speaker 1 (09:44):
New stage of life that we're in with being empty nesters.
You're almost an empty nester. I'm an empty nester and
enjoying and loving those grand babies. So those of you
out there who are grandparents know exactly what I'm talking about,
and those of you who aren't are going well, she
talks about it all the time.
Speaker 2 (10:01):
I can't help it.
Speaker 1 (10:02):
It's the best thing, Katie Martin, tell everyone a little
bit about you.
Speaker 4 (10:06):
Yes, I'm Katie Martin. My husband is Robert with Artie
Martin Electric always put in the free plug for him.
Speaker 1 (10:13):
Well, because listen, actually I knew Robert before I knew you.
Speaker 2 (10:17):
Yeah, really, I.
Speaker 4 (10:18):
Knew you before I knew Robert.
Speaker 1 (10:21):
Maybe well, Artie Martin Electric has been our preferred electric
vendor since I started in real estate, you know, thirty
years ago. So I knew Robert's dad and then got
to know Robert. And so I'm telling you, when you
plug Artie Martin Electric, people can know. It's not just
because they're family, it is because they do a great job.
Speaker 4 (10:41):
Yeah, we were on the show together last time and
that was a bit of a trip. So y'all ever
want to go back for some entertainment, go back to
that podcast.
Speaker 2 (10:49):
It was fun.
Speaker 4 (10:51):
But I am looking forward to being a grandparent someday.
Right now, I have a middle schooler and a high
schooler who so I'm ready to skip some of the
next But it's fine.
Speaker 2 (11:02):
You and I were talking this morning.
Speaker 1 (11:03):
It's all about training, training, and more training.
Speaker 2 (11:07):
Yes, just takes time.
Speaker 1 (11:08):
Ye.
Speaker 4 (11:09):
You have wonderful girls, by the way, they really are.
And I just got a notice on my phone from
my oldest daughter. She took the PSAT and did very well,
so I'm proud of her. She'll't be listening to this,
but good job, Poppy. Yes, I have Poppy and Cora,
and we're also involved with our church in the youth
(11:30):
group as well, and we're also the Booster Club, like
two of the seven members. Do you ever want to
contribute to Legacy Christian Academy? Hit me up?
Speaker 2 (11:41):
So I love that, you know what.
Speaker 1 (11:43):
I love the way that our team not only you
know we're faith based, we all participate in activities at
our churches, but we're also participating in activities in our
communities because we do believe in giving back, and our
community has given us so much and we care. I mean,
it's a real heart for service. It's a servant's heart
(12:05):
that leads us to do the things that we do
within our community.
Speaker 4 (12:09):
So I love that about Amen's sister.
Speaker 3 (12:11):
Yeah.
Speaker 1 (12:12):
Now, also with this Arlette Salsado and ar Let is
First Financial mortgage lender. And Arlett, We're so glad you're
here today.
Speaker 4 (12:20):
Thank you.
Speaker 6 (12:21):
I'm so happy to be here, Dana. Like you said,
I am Arlette Salsato, mortgage bilingual mortgage lender at First Financial.
I do have a amazing supportive husband whose name is
Candelario Salsato, but he really goes by Juni. He really
doesn't really go by Candelario. Nobody really knows that.
Speaker 2 (12:39):
And I have they do well.
Speaker 6 (12:42):
He throws everyone off at work because for the longest
he used Juni. He's junior, so whenever he presents himself,
they say you have to use your legal name. So
now he has to use his legal name. But I
have two wonderful kids and they're so creative. They are
lex He's about to beat ten. Eddie Berta is about
to be seven and the creativity that runs in those
(13:04):
two kids. I tell you, like, LEXI made a video
the other day and I posted it on Facebook because
I just had to share it, and like there is
transitions and everything, and I was just like, I don't
know how.
Speaker 3 (13:14):
To do that?
Speaker 2 (13:15):
Or is she looking for a marketing job?
Speaker 3 (13:17):
Hey, you know when you want to hire her?
Speaker 6 (13:19):
No, but they're honestly, they're great. I love my little family,
but I also love working in mortgage lending. So I'm
excited to be here.
Speaker 1 (13:26):
Yeah, and we consider you a part of our family too.
Even though you're not with Dana Simmons real Estate, we
think of you as Dana Simmons real Estate. So we're
so glad you're here with us. Well, we have an
exciting show. We're going to share a lot about what
we're seeing happening now, but also what we're thinking is
going to happen in the next several months and even
next year. What do we think twenty twenty five is
going to look like? So you don't want to go away,
(13:48):
come right back. This is the Dana Simmons Show. Welcome back,
This is Dana Simmons. We have a show today that
we are trying to give you information about what we
think might happen in the next weeks and months and
next year in the real estate market. With me today,
I have our Lett Salsato and or Let. We have
been talking before about this. You are a mortgage lender
(14:11):
with First Financial Bank, and we've talked in the past.
You've been on the show several times about how the
rates over the last thirty years. The average rate over
the last thirty years is seven point seven percent. And
while we got really used to having three percent rates,
that really wasn't what is a norm. But then rates
(14:34):
did go up in twenty twenty two, like July of
twenty twenty two, things went up and then they went
up again. But tell me what you're seeing this year
and what you think may happen over Listen, here's what
I know. You don't have a crystal ball, and none
of us know exactly what might happen, but just based
(14:55):
on your what you see, we'd just love to hear
your thoughts out that.
Speaker 6 (15:00):
Yeah, so that's everyone's favorite question to ask. They want
to know what's going to happen to rate. It's what's
changing and what have you seen. I think one of
the biggest things is that we have seen them trend
downwards since the beginning of the year. So that's always
good news because then that interest buyers to go out
and be able to make more offers and whatnot. But
they're always volatile, so just like they can trend downward,
(15:23):
they can also go up. So we've seen that just
within the past couple of months, the past couple of weeks.
It changes, it can always change. So while I can't
predict what's going to happen next year or end of
the year, whatever it might be, I will say that
I'm hopeful that they will continue to trend downward and
then we'll just kind of take any changes that come
(15:46):
with it, because while they can trend downward, they can
also go up or stay at a study pace hopefully.
Speaker 2 (15:51):
Yeah.
Speaker 1 (15:51):
And really where they are right now is less than
the average over the last thirty years. I mean, we're
not seeing anything over eight percent. We're really seeing them
the majority of things here lately have been and I
know it can go higher than that, but what we've
seen lately is under seven point seven percent. So when
people get anxious about a rate, I think it's the
(16:14):
perspective that is is not right because their perspective is
that it should be three or four percent, when that
wasn't a realistic rate. Thankfully, we a lot of people
did get it though. I mean for a long time
there were oh, it was like people were buying houses
(16:34):
like all the time and multiple offers on properties. But
the challenging thing with that when that happened was multiple
offers on properties, and so people were paying over asking price.
They were paying inflated amounts in order to get into
those properties. And so right now, even though the interest
rate is higher than three or four percent, it's a
(16:57):
decent rate right now.
Speaker 6 (17:00):
Rates right now especially for like our first time home
buyers and everyone, they're able to go in purchase that
home and then always have that hope to just refinance
later on down the road whenever they're ready, and it
gives them that opportunity right now, if especially those first
time buyers to be able to ask for like sellar
paid contributions and things like that that before they weren't
(17:22):
able to ask for. So we were just seeing people
needed to come out more out of pocket, and while
they were having a really good rate, they were spending
more upfront, and a lot of people can't afford that
right now.
Speaker 2 (17:32):
That's right. Well, I love that you brought that point out.
That is great.
Speaker 1 (17:35):
But the other thing I want our listeners to know
is that you also have some creative financing on things
that are outside of the box. It's not just faha
va conventional. You have a few things that would allow
people to get into a home when they think they can't.
Speaker 6 (17:50):
Yeah, we do. He actually made some good changes to
it recently where we've uped the income limits because a
lot of things that come with no down payment options
or whatever usually have like an underlying factor, just additional
underwriting requirements. But we've made a few changes. We've increased
our income limits, so we do have options that'll let
you finance or go into your home with maybe no
(18:14):
down payment, if any closing costs, depending on what you're
able to negotiate at that point.
Speaker 1 (18:19):
Yeah, and that zero percent down that you're talking about
on one of those, it's a conventional loan.
Speaker 6 (18:25):
It is a conventional loan with no cap on the
amount of sellar paid contributions you're getting. So usually when
you have a cap to it, you know you still
have to come out of pocket. Some you might still
have your down payment but on this particular program, you
don't have a cap to that amount of sellar paid contributions.
So in those cases you can come out maybe your
earnest money, and even in the case you may be
(18:45):
able to get some of that back or come very
little to closing.
Speaker 3 (18:48):
Right.
Speaker 1 (18:49):
So I think the moral of this story right here
is for people to just call you, let you sit
down and look at their situation. Because some people think, oh,
I can't afford to how when they can and they
are able to because they're paying a monthly rent amount
and they just don't have all the cash they need,
(19:09):
so they're able to sustain the monthly notes and it
allows them to become homeowners, which is building their own
wealth and investing in themselves and not in someone else.
So the key would be for them to just sit
down and talk to you, right, and then you can
go through everything.
Speaker 6 (19:26):
Yes, that's always the number one option, because if you
give me a call, we can go over what your
options are, and we can go over why one program
may be more beneficial than the other. And then if
you really want to just sit down and be like,
this is what I think I can afford realistically, then
we'll go over those options, and if we can't figure
it out right now, right this second, we can definitely
figure it out for the next three six months whenever
(19:49):
you're ready.
Speaker 2 (19:50):
Yeah.
Speaker 1 (19:50):
It gives them an opportunity to say, this is the
goal I want to achieve, and it allows you to
give them steps to get there.
Speaker 6 (19:56):
Yep, and we go over it. And then if you're
happy with those steps, then we just make that game
plan and we work to it and we stick to it,
and then three six months down the road, you can
be a homeowner.
Speaker 1 (20:07):
Yeah, And or that you are able to work with
people all over Southeast Texas right.
Speaker 6 (20:12):
Right, We can work with people all over the state
of Texas, but more specifically Southeast Texas because that's where
we like to kind of have our estimates.
Speaker 2 (20:19):
Well, you know, you know the people here.
Speaker 5 (20:21):
You know.
Speaker 1 (20:22):
One of the things that I see come up a
lot that can be a challenge is when we're working
with an out of state lender who doesn't quite understand
all the requirements that we have here. And so for me,
it's so important for a buyer to make sure they're
using a local lender who understands about our windstorm insurance,
who understands about the flooding issues in different places and
(20:45):
where flood is required. But the other side of that
are lot is these are the people who are in
your community. These are the people who are just like you,
who are contributing in so many different ways in your community,
which I see you out there everywhere contribute in the community.
Speaker 2 (21:01):
These are the.
Speaker 1 (21:02):
People who donate to your little leagues and your ballet.
So using an in area person who gives better service,
in my opinion, is a way better situation than trying
to find someone out of the state.
Speaker 6 (21:18):
And you bring up a good point with that, because
a lot of the times, you know, depending on how
we do our loan, it might go on the secondary market,
which that's just a fancy work. You'll forget about that.
But you may make your payment to a different investor,
you may make your payment to a different bank, whatever.
So whenever that happens, a lot of the times people
have questions with their escrow and after the fact they
(21:40):
still contact me. So they'll come into the office and
they'll be like, hey, like, I know I don't make
my payments here anymore, but I have this that's come
up and I don't know how to handle it. Can
you help me with that, and I'm still I'm glad
to help help that customer with that because that's something
that maybe I can easily understand and I can see
what they need to do to take care of that,
versus they're right there sending down looking at that mortgage
(22:03):
statement or that notice that they received on their scrow
shortage or whatever it might be, and they're analyzing it
and they're like, but I don't get it. I don't
understand what they want from me.
Speaker 1 (22:12):
Yeah, And so you're able to service that lifelong really
for them because you are there. That's the other challenges.
I've had people call me and say, I don't know
who to call about this because they got a loan
from someone you know on the internet, and that person's
not there anymore, and they don't bet no one can
tell them what to do. Having a local lender, buying local,
shopping local. I'm just so about that because if we
(22:34):
want to reinvest in our area and community, we've got
to do that with our people. So or let if
someone wants to visit with you, tell us how they
get in contact with you.
Speaker 6 (22:43):
They can give me a call at four O nine
four seven four one five zero three. They can also
shoot me a text or they can email me at
a salsato at f fi n dot com. And that's
a sauce like the tomato sauce do at f fi
N dot com.
Speaker 2 (23:00):
I love that, That's all, you know. It's funny.
Speaker 1 (23:02):
Every time I write your name, I have to do
that sauce do A sauce do as the only way
I can remember how to spell it. So I love
that you helped me out that way and help everyone
else else out that way. One of the things I
know about our lat I've worked with you for a
long time now, is that more than just wanting to
get the deal done, you care about the people and
(23:22):
your heart is in the right place to want to
do that. So if you want to work with someone
who really cares about you and wants to work at
your best, your goals and meet your goals, give Arlet
a call. Well, when we come back, we're going to
talk to Katie Martin about what's going on with sellers
right now in the real estate market. So don't go away.
(23:43):
This is Dana Simmons with the Dana Simmons Show. Welcome back.
This is Dana Simmons with the Dana Simons Show, and
we are so excited to have our team here. I
have Katie Martin, who is a listing agent for Dana
Simmons real Estate. And Katie, you've been selling real state
about twenty five years, right.
Speaker 4 (24:02):
Yes, but I'm not old, no, no, because you started
when you were very young.
Speaker 2 (24:06):
Yeah.
Speaker 1 (24:07):
The other side of that is you've been through quite
a few election cycles, and so we've seen over the
many years we've been in real estate, we've seen that election.
Speaker 2 (24:20):
Ye're softened a bit.
Speaker 4 (24:22):
Yes, Yes, it's a big sigh beginning.
Speaker 1 (24:27):
And so we've seen a little bit of that happening
right now, and you've seen the inventory increase. But what
do you see happening right now? And what do you
anticipate will happen in the next several weeks, months and
next year.
Speaker 4 (24:44):
Yeah, So it's not even just the election. I think
it's just the world changes. And once you've seen that
go through a few times, it gives you a different
perspective of things. You're going to wake up the next
day and the world's going to keep turning, and we
just keep selling real estate. I think the biggest thing
for us is that we're always adjusting and adapting depending
(25:07):
on what's happening in the market. So there's some things
that may have worked last year or the year before
that aren't working now and vice versa. And at Dana
Simmons real Estate, we always try to stay on top
of not only the market, but also marketing and just
you know, seeing what works and what doesn't work for
our sellers. But yeah, I think I think so many
(25:31):
people were holding their breath this year and just living
in a kind of constant state of anxiety and fear
and now what, regardless of who you voted for or
what the outcome was, I think there's going to be
a new norm at some point.
Speaker 2 (25:46):
So we're very.
Speaker 4 (25:47):
Hopeful for twenty twenty five. We have a lot of
industry in our area specifically that we think will start
thriving again, and so that's going to bring a lot
of people in and out. Housing should should go up,
and hopefully, you know, our inventory goes down a little bit.
I think we need to get to a healthy place
(26:09):
with our inventory, not so many months of inventory in
certain you know, price points and not in others and
things like that. So we don't have a crystal ball
like everybody's been saying, but we are very hopeful, and
I see already the phone started ringing more.
Speaker 1 (26:25):
Yeah, we have since the election seen the phones start
to buzz. But before the election happened, a lot of
people I would see the conversations because I get to
look at all of that, and the conversations were, we're
just holding, We're just holding, We're just holding.
Speaker 4 (26:42):
We're going to call you in January.
Speaker 2 (26:44):
Yeah, that's what we heard. So January should be very good.
Exactly what we're thinking.
Speaker 4 (26:48):
There's nine thousand people calling.
Speaker 1 (26:51):
Well, and that's why I say, if you were a
buyer out there thinking about buying, I really think now
is the best time. And so we're going to talk
to Jessica and Tonay in a little bit about why
we think that now is really good. But it's to
your point. You hear people talking about it's going to
(27:12):
be in January. But in our office already we are
seeing the number of listings begin to grow.
Speaker 4 (27:18):
And I think it's a good time for people to
get prepared right now to the holidays are about to
come upon us. And some years have been my best
month in December, and some years have been my worst
month in December. So that's kind of an iffy thing,
but I think it is a good time just to
get all of your information. If you're on the fence,
(27:41):
go ahead and make an appointment and come talk to us.
Because while I might give you numbers right now, that
might change next spring, maybe for the better, maybe for
the worse. We don't know. But at least you can
kind of know the process and what to expect if
you are getting ready to list. So I would say
that's very important. Go ahead and get the conversation started.
(28:04):
There's no pressure. I'm the least pressuring person. I think
that I know, but I do want to get you informed,
so that's important.
Speaker 1 (28:16):
Yeah, and I think you do a great job of that,
of just educating them using the data. One of the
things that is your strong suit is that you love
numbers and you love data, and so it's I know,
many times we'll have sellers come in to the office
where they've been listed with another agent for six months
and we'll say, so, help us understand how you came
up with your list price and they'll say, well, we
(28:39):
just picked a number.
Speaker 2 (28:40):
Yeah my agent told me. Yeah.
Speaker 4 (28:42):
I'm like, well, why why did did they give you
any data?
Speaker 2 (28:46):
Yeah?
Speaker 1 (28:46):
So for us there's never a we think it's here's
what the market is saying, here's what these comps are showing.
While the seller gets to make the choice of what
they want to do, and sometimes they choose to price
the house higher than what we recommend. Yes, it's just
part of it that we do give them the data
(29:07):
and we allow them to make the decision on where
they want to go. I think it's pretty interesting that someone,
occasionally it will come to us want our advice, and
then after you twenty five years and me thirty years
of doing this, and we give them a value and
then they're like, well, I think I want to do
it at this price.
Speaker 2 (29:26):
I just it's well.
Speaker 1 (29:28):
They they usually regret it, Yes, they do well, and
that's part of the challenge. And I think that's part
of the situation right right now with some people who
are still in the market. If a property is still
on the market, we have seen some movement and so
but like I said in the beginning of the show,
there are some people who still want the values that
(29:49):
we had two years ago and they're not there right now. Well.
Speaker 4 (29:51):
And I think a big part of it too is
when the interest rates were so low, so many people
got into homes at the inflated prices. Yes, and now
they're upside down and they don't know what to do.
And that's not their fault, it's not our fault.
Speaker 2 (30:06):
It's just it's just the market.
Speaker 4 (30:07):
And that's I mean, real estate is always going to
be a gamble most of the time. It's a very
secure investment long term.
Speaker 1 (30:16):
It's one of the most secure investments, right.
Speaker 4 (30:18):
I think people don't under and there's so many things
involved the first five years of owning a home, not
even just maintenance and stuff like that, but closing costs
and you know, you're paying most of your interest upfront
on a new mortgage, so it's hard to get ahead.
So if I can get them to a break even
point after two years, three years, that's a win for us.
(30:42):
So those are the type of expectations when you come
in and meet, we can go over your whole scenario together.
Speaker 1 (30:48):
Yeah, And I think that's the key is talking through
the process. What is your what is your goal and
how can.
Speaker 2 (30:55):
We help you achieve it? And is it possible or not?
Speaker 1 (30:59):
So with the holiday upon us, how do the holidays
impact selling real estate?
Speaker 4 (31:05):
Yeah? The things I would say for the seller mostly
if you are about to list and we're about to
take photos, please wait and put your holiday stuff after
the photos, if you can at all, or at least
pear down a lot. Yeah, just because if it does
stay on the market for three to four months, you know,
nobody wants to see your Christmas tree in April. Yeah,
(31:28):
and I don't want to have you to have to
pay to get new photos. So that's that's something that
I would say, maybe just hold off if you can,
or some people want to take their photos a month
or two in advance so they can go ahead and
decorate and all that stuff a week or two. Yeah,
that's one thing. And what was the other thing, Oh,
(31:49):
showing your home during the holidays can be extremely frustrated
if you have family in and stuff like that. So
I would say just keep an open mind, flexible, and
just communicate to us if you don't want it shown.
We can always block off times that it's not allowed
to be shown, so we can work with you on
stuff like that. But that's really the biggest frustration I've seen.
(32:13):
And then if you do sell right around the holidays,
moving and coordinating.
Speaker 1 (32:19):
Yeah, and we can work all of that out. You know,
we have opportunities to be able to negotiate with the
buyer on all of that. So that shouldn't be the
thing that makes you not but it is something you
have to think about.
Speaker 4 (32:31):
Yeah, the biggest thing is don't stress about it. We
will work out a plan. Absolutely, There's rarely a time
we can't. Katie, I'm so glad that you've given us
some really good tips for our sellers. And when we
come back, we're going to talk to Jessica and Tonay
and talk about is now the right time to buy?
Speaker 1 (32:45):
So don't go away. This is Dana Simmons with the
Dana Simmons Show. Welcome back. This is Dana Simmons and
I have as guests on my show today are let
Salsado with First Financial Bank. She was giving us information
on what is going on in the mortgage world and
what you can expect potentially with mortgage rates in the
(33:06):
next several weeks and months. We are seeing that rates
over the last year have gone down and we are
very hopeful that that will happen again in twenty twenty five.
But we'll just have to wait and see because who
really knows, none of us, but we are hopeful for
that then Katie Martin gave us an update on what
is happening in the world of sellers and what she's
(33:29):
seeing with sellers and what properties are selling, and what
you can do if you want to list your house
during the holidays, what you can expect. Now we're going
to shift over to Jessica Welborn and Nay Hamilton and
they are working with buyers and so Jessica, let's talk
a little bit about what is going on right now
that you're seeing with buyers.
Speaker 5 (33:52):
Well, I'm still seeing buyers. They're buying houses, yes, always,
but you know, giving there there now we now have
the opportunity to look a little more and not to
be as rushed. It is a quieter time of year,
so they, you know, can really get more of their likes,
(34:13):
more of what they're looking for, maybe take a little
bit more time and be a little more picky. And
that's okay because it's a big investment. You know, it's
great to not be so rushed and not just have
to jump at the first opportunity. There's always a sense
of urgency because if you're looking at a house today,
someone else gotta looked at it yesterday or last week,
and they may be a step ahead of you, So
(34:35):
of course, when they find the one that they like,
we want to move forward as quickly as possible. But
it does give you a little bit more time to
get more on your list, you know, to check off
more boxes well.
Speaker 1 (34:47):
And so what are you seeing is you've given us
a little bit of insight on the differences from about
two years ago to today. We absolutely, even since last year,
we're seeing a pretty significant increase in the inventory year
over year. So what other things are you seeing that
sellers are willing to do for buyers in this time?
Speaker 5 (35:07):
Yeah, I think last year was knee jerk reaction that buyers,
I mean, sellers were still really hoping to get everything.
But I think now they've kind of rolled around into
the fact that the reality is they may have to
do some negotiating. And so I am seeing buyers that
get closing costs assistance from their sellers, or they get
(35:27):
more repairs made or new construction is a different story.
We can negotiate a lot in new construction if it's
been sitting for a bit, So it's really helpful to
get those things well.
Speaker 1 (35:40):
And the situation may change in January. You know, we
were just talking about the fact that what we had
seen prior to the election was the conversations where we're
waiting until after the election, or we're waiting until after
the first.
Speaker 2 (35:54):
Of the year.
Speaker 1 (35:55):
I believe there is pent up demand out there for
people who really want to buy a but they just
really wanted to see what was going to happen.
Speaker 2 (36:03):
I agree.
Speaker 5 (36:03):
And an election certainty, they don't, you know, and whether
you know whether things have gone exactly the way they
wanted or not, it's just the uncertainty that makes people
hold tight. You know. We all pull our people in
and just hold tight, like I think Katie said, take
a breath or hold their breath until they know something.
And so once you know, we have to say we
(36:24):
trust an unknown future to a known god. Yes, and
so we can still proceed with that, you know, but
just to know where we are a little you know,
a little more certainty I guess in our future, and
then they can proceed with the dreams that they've had.
Speaker 4 (36:40):
You know.
Speaker 5 (36:40):
I think some people make New Year's resolutions too, and
here we are approaching the end of the year, and
maybe they're like, okay, now now we're ready to jump for.
Speaker 1 (36:48):
It, you know, it's also after the holidays and they're like, Okay,
we don't have enough room in this house.
Speaker 5 (36:52):
Oh yeah.
Speaker 3 (36:54):
So I think that's what everyone realized in COVID. That's
why there's such Everyone realized how small or a space
in their house as much closer contact because everyone was
home at one time, which is not always the case.
And so yeah, I think that's always all such a
surge after not only the interest rates, but people are like,
we need a pull, we need a space, we need
(37:15):
outdoor area. Yes, yeah, we just need that room, that
one room for an office if they had to a
lot of people went from never working at home to
you know, needing to occasionally work from home. So that
brought about like a whole new realm of needs in
my opinion too. So yeah, and I love that.
Speaker 1 (37:33):
You brought that up because getting that list of needs.
Speaker 2 (37:37):
One of the things that.
Speaker 1 (37:39):
We require of every before we take a buyer out
is a buyer consultation. And so talk a little bit
about why we do that and what the purpose.
Speaker 2 (37:50):
Of that is.
Speaker 3 (37:51):
So we do a buyer's consultation for a lot of reasons,
one being we want to go over the important documentation
that you're going to have to sign before entering homes
now that the laws have changed, so it gives us
a chance to be able to thoroughly explain those to
you so that you know what you're signing and that
you feel comfortable and confident and moving forward. And then
(38:12):
also it lets us get to know who you are,
what your family life is like, what your needs once
lifestyle is like, so that we can help find your
house for you. So I think a lot of times
because of you know, we have so many different platforms
where people and buyers can look for homes, which is great,
(38:34):
but also at the same time, like your agent, if
they are doing what they're supposed to, they should have
knowledge of what to look for for you, even sometimes
better than what you think you're looking for. There's so
many underlying things. As an agent, you're able to pick
those things up, and it's great whenever you're the one
(38:57):
to find the property for them, and that's really how
it should be. So I think the buyer consult helps
with that tremendously because it's just very quick way of
getting to know someone better than just opening the door
for them and what do you like about this one
house we're seeing, and what do you not like about it?
Speaker 1 (39:16):
Yeah, it is a very important time for you to
kind of get into the head of the buyer to
figure out what they need. Instead of them finding the house,
you want to be the person to help find the
house for them, and sometimes what they think and what
they're searching for on the internet. You may be able
to tweak that a little bit and they don't even
think about that. And you've I know you've done it
(39:38):
many times.
Speaker 3 (39:39):
Yes, many times. I can't tell you how many times
I've said let's go take a look at this one
and they've been hesitant for whatever reason because pictures it
is so hard to tell over a computer screen how
the house is really laid out. I mean, technology is wonderful,
but there's nothing like actually going into the home, seeing
it for yourselves and then being able to picture you
(40:00):
and your family and oh, I can see the Christmas
tree going in this corner, and those types of things
that you can't see or get that same feeling over
the computer.
Speaker 1 (40:09):
Same thing with a neighborhood, I mean driving through the
neighborhood and walking in the backyard and getting the feel
of what what is this entire home like? Not just
how many bedrooms, baths.
Speaker 2 (40:21):
And what is the pink color?
Speaker 3 (40:22):
Right exactly?
Speaker 1 (40:23):
Yeah, so lifestyle, I think you brought it up is
the most important thing. So we would love to be
able to sit down and talk to you about those things.
Please give our office a call if you would like
to set an appointment with one of our agents. It
is of no obligation to you. We just love to
sit down and visit with you. Four oh nine eight
six six eight three two six That is actually four
(40:45):
oh nine eight six six team, or go to Danasimmon's
real estate dot com and you can request an appointment
there as well. Thank you ladies, this has been such
a fun show. We are all praying we have an
amazing twenty twenty five and we are are extremely.
Speaker 2 (41:00):
Hopeful for that.
Speaker 1 (41:01):
Have a great Saturday.
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