Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:13):
And we're not going to get some.
Speaker 2 (00:18):
We've got some news this morning that will get you
up and get you to the phone or get you
to the internet, and it certainly won't get you down.
That is David Hall and Hall Financial. Eight six to six.
Call Hall and call Hall First dot com. He's a
trusted advisor for your home mortgage and when interest rates fluctuate.
David Hall, Well, he's been there. He's got thousands and thousands,
(00:41):
nearly ten thousand by now, five star reviews from people
who went to him, got his advice and had it
happen very easily and quickly. There's a five minute mortgage review.
Five minutes and find out what your options are. Eight
sixty six Call Hall and call Hall First dot com.
As we speak to you from the Formula one race
in Las Vegas, Nevada, David Hall is with us, buckled
(01:04):
in with his foot on the gas. Thank you for
being here.
Speaker 3 (01:08):
Always good to be with you. Michael Patrick, how is
Vegas this morning?
Speaker 2 (01:13):
Yeah, there was some rain on the track yesterday, but
you know it's really when they shut down the track
for the cars and the lights go on in Las Vegas,
it's very very exciting and so that's all happening, and
there's a whole circus that goes along. You know, people
travel from all over the world for these races. And
I was driving here yesterday and I was listening to
(01:34):
this press conference with Donald Trump, and so it was
very entertaining. He was there talking about the Federal Reserve
Chair Jerome Powell, and he was talking with Treasury Secretary
Scott Bessant. And here's what the President said about interest
rates and the FED, and.
Speaker 4 (01:52):
Eggs are way down, mortgage rates are down despite the FED.
I mean, Scott, you got to work in this guy.
He's got some real mental problems. No, he's something wrong
with him. He should be fine. Guy's grossly incompetent and
he should be sued for spending four billion dollars to
build a little building.
Speaker 2 (02:13):
So you get the point, David Hall, I don't know
if you feel that way about the President when it
comes to interest rates, but any reaction without waiting too
far into politics.
Speaker 3 (02:24):
Yeah, it doesn't sound like he's a big fan. It
sounds like he's pretty sure about that. I would say this.
You know, sometimes there's some hyperbole involved, but I think
it's fair at this point to be probably a little
critical of the FED. I don't know if I'd go
as far as as that, but I feel like that
the FED over the last two years has been trying
(02:45):
to navigate this inflation monster. And I think that there's
a lot growing sentiment that there are other factors now
that are maybe, if not as important, maybe more important
as the inflation piece. And that has been a piece
that has been a key point for the FED to
get down to two percent. We've seen it, you know,
(03:06):
sort of this between two and three percent range. So
if they had said, hey, our mandate is to get
inflation to two and a half or two and three
quarters percent, would they have maybe lowered three or four times?
Would then housing be more affordable, Would there be more
spending and less job cuts? I mean, I think that
there's an argument to be made that that is the case.
(03:29):
And so I think that whenever you go with a
single mandate the way the FED has with inflation, there's
going to be some carnage along the way of other
things that maybe don't go as well. So that's where
they're under a lot of scrutiny, specifically Jerome Powell and
Trump let him have it.
Speaker 2 (03:48):
Mark Gildersleeve and Ashley have put together some interesting questions
for you from your team there, and one of them is,
you know, these are not new questions in some cases,
but their adages that are worth addressing, and that is
do we attach wealth creation to home ownership?
Speaker 3 (04:08):
Well, most definitely, And so there's a stat out there
that homeowners have forty times more wealth than renters, and
that's a very general stat but I think that it
is true that the quicker that you can get in
on home ownership in your lifetime, whether it be you know,
when you're twenty six years old or thirty one years
(04:29):
old or at some younger stage of adult life, getting
in on home ownership and starting that wealth building process
is extremely powerful. And there's a lot of reasons for that,
but one of them that I would just point out
is that if on average, your home is going to
go up let's call it six percent a year, and
the first two hundred and fifty thousand dollars of the
(04:51):
gains on that home are tax free, that is an
incredibly powerful vehicle for you to build wealth. If you
buy a three hundred thousand dollars it goes up around
fifteen thousand dollars per year and you end up cashing
in on that tax free. When you do the math
on that, that is an incredible opportunity. Over let's call
(05:11):
it between ages thirty and fifty five. We'll just say
where you can build wealth in a way that doesn't
involve you going to your day job. So I think
that a lot of people miss on that. I don't
know that there's enough education surrounding that. Certainly, I'm a
big advocate for people to rent when it is appropriate,
(05:32):
But for the most part, folks should be looking at
home ownership. Even at levels like we're at today, where
people may think I'm going to wait a while, that's
usually not a great idea. If you look at the
analytics and the statistics.
Speaker 2 (05:47):
What percentage David Hall eight sixty six, Call Hall and
call Hall first dot com. Do you need to have
as a down payment?
Speaker 3 (05:55):
Well, the million dollar question, and in general terms, we
like to see folks that have three percent down at
a minimum. Now there are one percent down programs, there
are some other programs out there, but I like people
to be in good shape going into purchasing a home.
The national average is eleven percent down. The national average
(06:17):
for a first time home buyer is seven percent down,
but certainly three percent will get you in without a problem.
And I think that that's one of the biggest things
that's out there that is a myth is people think
you need to save a lot more money than you
actually do. In general terms, for a first time home buyer,
if you have ten thousand dollars saved, you should be
(06:38):
buying a house according to the data and the analytics.
Speaker 2 (06:42):
Just forty five seconds eight six to six call Hall.
People have money in their own home right now that
they can quickly access either as a loan or just
to have the money for whatever they want to do
with it, right Yeah.
Speaker 3 (06:56):
I mean over the last five or six years, people
have seen their value grow by fifty thousand dollars plus.
That is their money if they want to access it,
especially with the holidays coming up. A home equity line
is a great idea because you only pay on what
you owe. You should look into it, especially if the
bills are starting to creep up.
Speaker 2 (07:16):
In five minutes you can find out what you have
access to and David Hall will advise you eight sixty
six Call Hall, Call Hall First dot com. Thank you
for making it simple. And easy.
Speaker 1 (07:30):
Looking for your next sunny getaway, whether it's to your
favorite theme park, relaxing beach time, a golf trip, or
just feeling the sun on your face. Breeze Airways as
you covered with convenient non stop flights from Lansing's Capitol
Region International Airport to Sonny, Orlando and Fort Myers. Travel
with these by visiting Flybreeze dot com or by downloading
(07:53):
the Breeze app Fly Lancing on Breeze Airways seriously nice.
Thanksgiving is a time to come together, eat together, and
share together, and Meyer is making it easier than ever
to share more good during the week of Thanksgiving November
twenty three through the twenty nine.
Speaker 2 (08:09):
When you buy Meyer brand, Fredericks by Meyer, Purple Cow
or True Goodness foods Our Simply Give program will provide
a meal to help feed up to four million neighbors
in need.
Speaker 1 (08:17):
It's the simple way to put the giving and Thanksgiving together.
Exclusion Supply Seemyer dot com for details. One meal equals
twenty five cents based on an average mail costs from
Seleckmeyer Food Pantry partners. Learn more at Meyer dot com,
Slash About myerslash Community dot html.
And we're not going to get some.
Speaker 2 (00:18):
We've got some news this morning that will get you
up and get you to the phone or get you
to the internet, and it certainly won't get you down.
That is David Hall and Hall Financial. Eight six to six.
Call Hall and call Hall First dot com. He's a
trusted advisor for your home mortgage and when interest rates fluctuate.
David Hall, Well, he's been there. He's got thousands and thousands,
(00:41):
nearly ten thousand by now, five star reviews from people
who went to him, got his advice and had it
happen very easily and quickly. There's a five minute mortgage review.
Five minutes and find out what your options are. Eight
sixty six Call Hall and call Hall First dot com.
As we speak to you from the Formula one race
in Las Vegas, Nevada, David Hall is with us, buckled
(01:04):
in with his foot on the gas. Thank you for
being here.
Speaker 3 (01:08):
Always good to be with you. Michael Patrick, how is
Vegas this morning?
Speaker 2 (01:13):
Yeah, there was some rain on the track yesterday, but
you know it's really when they shut down the track
for the cars and the lights go on in Las Vegas,
it's very very exciting and so that's all happening, and
there's a whole circus that goes along. You know, people
travel from all over the world for these races. And
I was driving here yesterday and I was listening to
(01:34):
this press conference with Donald Trump, and so it was
very entertaining. He was there talking about the Federal Reserve
Chair Jerome Powell, and he was talking with Treasury Secretary
Scott Bessant. And here's what the President said about interest
rates and the FED, and.
Speaker 4 (01:52):
Eggs are way down, mortgage rates are down despite the FED.
I mean, Scott, you got to work in this guy.
He's got some real mental problems. No, he's something wrong
with him. He should be fine. Guy's grossly incompetent and
he should be sued for spending four billion dollars to
build a little building.
Speaker 2 (02:13):
So you get the point, David Hall, I don't know
if you feel that way about the President when it
comes to interest rates, but any reaction without waiting too
far into politics.
Speaker 3 (02:24):
Yeah, it doesn't sound like he's a big fan. It
sounds like he's pretty sure about that. I would say this.
You know, sometimes there's some hyperbole involved, but I think
it's fair at this point to be probably a little
critical of the FED. I don't know if I'd go
as far as as that, but I feel like that
the FED over the last two years has been trying
(02:45):
to navigate this inflation monster. And I think that there's
a lot growing sentiment that there are other factors now
that are maybe, if not as important, maybe more important
as the inflation piece. And that has been a piece
that has been a key point for the FED to
get down to two percent. We've seen it, you know,
(03:06):
sort of this between two and three percent range. So
if they had said, hey, our mandate is to get
inflation to two and a half or two and three
quarters percent, would they have maybe lowered three or four times?
Would then housing be more affordable, Would there be more
spending and less job cuts? I mean, I think that
there's an argument to be made that that is the case.
(03:29):
And so I think that whenever you go with a
single mandate the way the FED has with inflation, there's
going to be some carnage along the way of other
things that maybe don't go as well. So that's where
they're under a lot of scrutiny, specifically Jerome Powell and
Trump let him have it.
Speaker 2 (03:48):
Mark Gildersleeve and Ashley have put together some interesting questions
for you from your team there, and one of them is,
you know, these are not new questions in some cases,
but their adages that are worth addressing, and that is
do we attach wealth creation to home ownership?
Speaker 3 (04:08):
Well, most definitely, And so there's a stat out there
that homeowners have forty times more wealth than renters, and
that's a very general stat but I think that it
is true that the quicker that you can get in
on home ownership in your lifetime, whether it be you know,
when you're twenty six years old or thirty one years
(04:29):
old or at some younger stage of adult life, getting
in on home ownership and starting that wealth building process
is extremely powerful. And there's a lot of reasons for that,
but one of them that I would just point out
is that if on average, your home is going to
go up let's call it six percent a year, and
the first two hundred and fifty thousand dollars of the
(04:51):
gains on that home are tax free, that is an
incredibly powerful vehicle for you to build wealth. If you
buy a three hundred thousand dollars it goes up around
fifteen thousand dollars per year and you end up cashing
in on that tax free. When you do the math
on that, that is an incredible opportunity. Over let's call
(05:11):
it between ages thirty and fifty five. We'll just say
where you can build wealth in a way that doesn't
involve you going to your day job. So I think
that a lot of people miss on that. I don't
know that there's enough education surrounding that. Certainly, I'm a
big advocate for people to rent when it is appropriate,
(05:32):
But for the most part, folks should be looking at
home ownership. Even at levels like we're at today, where
people may think I'm going to wait a while, that's
usually not a great idea. If you look at the
analytics and the statistics.
Speaker 2 (05:47):
What percentage David Hall eight sixty six, Call Hall and
call Hall first dot com. Do you need to have
as a down payment?
Speaker 3 (05:55):
Well, the million dollar question, and in general terms, we
like to see folks that have three percent down at
a minimum. Now there are one percent down programs, there
are some other programs out there, but I like people
to be in good shape going into purchasing a home.
The national average is eleven percent down. The national average
(06:17):
for a first time home buyer is seven percent down,
but certainly three percent will get you in without a problem.
And I think that that's one of the biggest things
that's out there that is a myth is people think
you need to save a lot more money than you
actually do. In general terms, for a first time home buyer,
if you have ten thousand dollars saved, you should be
(06:38):
buying a house according to the data and the analytics.
Speaker 2 (06:42):
Just forty five seconds eight six to six call Hall.
People have money in their own home right now that
they can quickly access either as a loan or just
to have the money for whatever they want to do
with it, right Yeah.
Speaker 3 (06:56):
I mean over the last five or six years, people
have seen their value grow by fifty thousand dollars plus.
That is their money if they want to access it,
especially with the holidays coming up. A home equity line
is a great idea because you only pay on what
you owe. You should look into it, especially if the
bills are starting to creep up.
Speaker 2 (07:16):
In five minutes you can find out what you have
access to and David Hall will advise you eight sixty
six Call Hall, Call Hall First dot com. Thank you
for making it simple. And easy.
Speaker 1 (07:30):
Looking for your next sunny getaway, whether it's to your
favorite theme park, relaxing beach time, a golf trip, or
just feeling the sun on your face. Breeze Airways as
you covered with convenient non stop flights from Lansing's Capitol
Region International Airport to Sonny, Orlando and Fort Myers. Travel
with these by visiting Flybreeze dot com or by downloading
(07:53):
the Breeze app Fly Lancing on Breeze Airways seriously nice.
Thanksgiving is a time to come together, eat together, and
share together, and Meyer is making it easier than ever
to share more good during the week of Thanksgiving November
twenty three through the twenty nine.
Speaker 2 (08:09):
When you buy Meyer brand, Fredericks by Meyer, Purple Cow
or True Goodness foods Our Simply Give program will provide
a meal to help feed up to four million neighbors
in need.
Speaker 1 (08:17):
It's the simple way to put the giving and Thanksgiving together.
Exclusion Supply Seemyer dot com for details. One meal equals
twenty five cents based on an average mail costs from
Seleckmeyer Food Pantry partners. Learn more at Meyer dot com,
Slash About myerslash Community dot html.
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