September 16, 2025 • 35 mins
The Federal Reserve is anticipated to announce a quarter-point rate cut tomorrow, a move that could influence both housing and investment markets. In this episode of The Jon Sanchez Show, Jon reviews how lower borrowing costs may affect homebuyers, sellers, and real estate investors. The conversation explores potential opportunities in affordability, along with the risks tied to changing market dynamics, offering listeners a clear outline of factors shaping the post-Fed housing environment. The discussion also extends to retirement planning considerations, portfolio positioning, and how Reno financial planners are evaluating these developments. For those interested in real estate decisions or broader financial strategies, this episode provides timely insights into the evolving landscape of wealth management in Reno.
👉 Watch this episode on YouTube: www.youtube.com/@thejonsanchezshow
👉 To learn more about retirement planning and wealth management in Reno, visit: sanchezgaunt.com
Compliance Disclosure: This program is for informational purposes only and should not be considered investment, tax, or legal advice. The views expressed are those of the participants and may not reflect the views of Sanchez Gaunt Capital Management. Investing involves risk, including the possible loss of principal. Past performance is not indicative of future results. Always consult with a qualified financial professional regarding your individual situation before making financial decisions.
👉 Watch this episode on YouTube: www.youtube.com/@thejonsanchezshow
👉 To learn more about retirement planning and wealth management in Reno, visit: sanchezgaunt.com
Compliance Disclosure: This program is for informational purposes only and should not be considered investment, tax, or legal advice. The views expressed are those of the participants and may not reflect the views of Sanchez Gaunt Capital Management. Investing involves risk, including the possible loss of principal. Past performance is not indicative of future results. Always consult with a qualified financial professional regarding your individual situation before making financial decisions.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:03):
Good Tuesday afternoon to you. Welcome to the John Sanchez
Show on News Talk seven eighty k which it's a
pleasure to be with you on a pleasure to be
with my co host. Got everybody on board. Mister Edge's back,
mister Millard's here. It's a good day. It's a good
day in the neighborhood, the White Millard Highlands Mortgage. How
are you and my friend?
Speaker 2 (00:19):
I'm doing fantastic. All the family, right.
Speaker 1 (00:21):
All in the family.
Speaker 3 (00:22):
Family.
Speaker 4 (00:23):
Yeah, I'm doing fantastic. Hopefully tomorrow will even be better.
Speaker 1 (00:26):
Let's hope, so brother, Let's hope so absolutely. Corey insividuality.
Back from a very successful soccer tournament for your son.
I am so happy for you many they won the
big tournament and uh yeah you're smiling Dad.
Speaker 3 (00:40):
Yeah, I mean I have the easy part. I just
get to fly and watch. But yeah, they played really good.
That was a good time.
Speaker 1 (00:47):
That is so awesome. And that was a big tournament,
you said, right, thirty.
Speaker 3 (00:50):
Yeah, thirty six teams from around the country.
Speaker 1 (00:52):
Yeah, wow, that's amazing. They won the whole thing. That's amazing.
Way to go, way to go, fun times, good deal,
good deal. Absolutely all right, we'll speaking a FN times,
We're gonna have a great time with you this afternoon.
Let me tell you what we have lined up for you,
post FED real estate playbook. That's right, post FED real
estate playbook. What do we mean by that? Well, tomorrow,
(01:13):
of course, as Dwight was alluding to, we're gonna have
our FED interest straight decision at eleven o'clock followed by
the press conference of Jerome Paalad eleven thirty. We know
with all confidence that, of course nothing's for sure, but
with all confidence that the Fed is going to give
us our quarter percent cut tomorrow. But what the Street's
going to be looking for? What Dwight's bond market's going
to be looking for? Something very simple, and that is,
are there going to be more that are coming? Right?
(01:35):
That's what could derail this excitement, this happiness, et cetera
that everybody wants. As we've said for weeks, maybe even
over months, it is already priced into the bond market,
it's already priced into the stock market at the quarter
percent cut. What we don't know is are we going
to get two more as the street wants at this point? Right?
That's the odds are still pretty good north of seventy
(01:56):
percent for both of those scenarios cut in October and
one Indie, and we're going to see a course of
Chairman Pal says anything. I don't know why, guys, I
even you know, waste my time saying that, because we
all know what he's gonna do. He's gonna say, we're
data dependent. We're just gonna wait and see, right. I mean,
it's the same old thing over and over again. But
this is what it's all about. So let me tell
(02:16):
you what we have lined up for you this afternoon.
So we get this quarter percent cut tomorrow. Great, Okay,
that's what everybody, like I said, is looking for. What
does this mean? Well, we've got lower borrowing costs, which
of course will open the doors for buyers. It will
open the doors for sellers and investors, right, but it
also comes with some new risks, that's right. So this afternoon,
what we're gonna do is we're going to break down
the strategies that the boys will put together for you
(02:39):
of what you need to do to win in a
post fed housing market. Right, So this is going to
be interesting. We've got again a lot of great points,
about seven of them that we're going to go through
and then then we're gonna have time permitting, We're gonna
break down how's the buyer going to benefit from a
post interest straight cut? How's the seller going to benefit
(02:59):
from it? Cory? Are you? Are you getting any phone
calls at this point? Then question is going to go
the same to you, Dwight ahead of the FED meeting tomorrow.
Speaker 3 (03:09):
Well, I wouldn't say. I wouldn't say because of the
FED meeting. But as we all know, sometimes the public
thinks the FED meeting is the thing that's right triggers it.
But the rights and Duytle, you know, tell us about it.
The rights have been steadily going down. So I have
seen an uptick in activity, which I'm guessing is from that.
Dwight probably knows better than I do, but I think
(03:30):
not a direct Well maybe it is directly from you
know what Powell said in Jackson Hole that got this
whole ball rolling. So yes, to answer your question, the
buyers seem to be more engaged now that rates are falling.
Speaker 1 (03:44):
Right right, Well, Dwight, that's been indicative by the mortgage
application data that we receive each and every Wednesday. We'll
get it tomorrow, but you're up what if I remember
the twenties. Yeah, yeah, in the twenties there again. Yeah,
it'll probably be there again, exactly. So phone volume etcter
with you, Dwight ahead of the FED interest rate decision. Mark.
Speaker 4 (04:05):
Yes, it's starting to pick up, and it's encouraging out
there because I believe there's a lot of people we've
talked about this, you know, who's going to how are
you gonna get drawn out? But there'll be a headline tomorrow, right,
These people will see it on the internet wherever they
go find their their their news. They'll see a quarter
point reduction. Rates are going down. Rates are down. So
you'll see some natural reaction just to that. But then
(04:28):
you know, we'll wait and see if there's.
Speaker 2 (04:30):
More to come.
Speaker 1 (04:31):
Absolutely, were you guys aware that tomorrow is also the
dot plot.
Speaker 2 (04:36):
Oh no, I didn't know that.
Speaker 1 (04:37):
Yeah, I know that. Yeah, tomorrow we got the dot
pop the the of course, the official name is the
Summary of Economic Projections, And this is again we make
it really simple when we explain this one. This is
where each member of the Fed gets to put on
a little piece of paper where they think interest rates
are going to be over the next year, two years,
and sometimes even five years. I'm just saying this again
very basically, but you get my point. They get to,
(05:00):
again on a personal basis, make their best guesstimate as
to where they think rates are going to go, where
they want them to go, et cetera. So the street,
the bond market pays a lot of attention to the
summer of economic projections because, as I said a moment ago,
what we want to hear is when's the net cut,
next cut going to come? When's the one after that
gonna come? And this will give us a little bit
of indication going forward there. So, like I said, we
(05:22):
need we need to know October December are they on
the table? You know, guys, I was thinking as I
was saying that about the October and December media. I
think this is a good time to remind everybody, especially
if you again are new to the show, new to
the market. Here's what we always caution all of you
want Wall Street. I'm going to use the analogies I've
used a million times. Wall Street is a bunch of
(05:42):
spoiled brats. If they don't get what they want, they
will throw a temper tatrum. And when I mean temper tantrum.
It's selling. It's either driving you know, bond price is lower,
which drives the yields up, or driving stock market prices lower. Right.
They if they don't get what they want, they're going
to do that and we are prying. So here's the negative.
We are primed for that to happen. This market is
(06:04):
very expensive on an earnings evaluation standpoint. It's price for perfection.
We've got Ai driving this whole train at this point.
There's a lot of things this market wants. And I
get nervous when we get to these levels. I think Corey,
you and I last Tuesday we were chatting off air,
and you said, do you get nervous about, you know,
when the market's setting record after record? I said, yeah,
I get more scared. You know, let's say that facetiously,
(06:26):
but I get more scared when the market's setting record
after record than when you know, we're down on the
dul drums and we can pick and choose where we
want to buy and so on and so forth. Because today,
guys almost felt like that. Where we came in, there
was no bad news whatsoever. We had some pretty good
economic reports, and then literally in the blink of an eye.
They started selling the market off before you knew it
that Dow was down two hundred points, Nasdaq went from
(06:46):
close to one hundred point gained, you know, down negative slightly,
and I was like, uh oh, this is it. And
this is the point I'm trying to make is if
the market does not hear from the Fed tomorrow that
another rate cut is coming, or at least some good
hints about it, it could be a old temper tam
Truman or taper tam term as we call it. And Dwight,
you brought up a great point on Thursday saying, hey, John,
remember we've got a half a percent cut, know, months back,
(07:08):
and look at what happened. Mortgage rate shot up, stock
market went down. So you never really know. And that's
why I keep emphasizing and the boys keep emphasizing, it's
all about what Jerome Palace is at the press conference
and now what the dot plot it's going to say, Corey.
Speaker 3 (07:21):
I think it'll be and I'm sure we won't hear
it tomorrow, but in the future we'll hear about Stephen Murray.
I don't know how I say, ram Yep, Mirane sitting
on the board, what's he going to say at the meeting.
I guess we'll hear about it when the minutes come
out in thirty or sixty days, how hard he pushes.
But it'll be interesting. I don't know, I'm just being funny.
I guess it'll be interesting to see. I'm sure Jerome
(07:41):
Powe will get a lot of questions about that. I'm
sure at some point Stephen Moran or whatever his name is,
we'll go out and do his own press or and
talk about things like this is I think the market
will look at that decision in the future. But I
think this side show stuff could get interesting, right because
now you have basically a Trump devotee sitting in there
(08:02):
that can raise chaos if he really wants to. He
doesn't have the voting power, but it'll be interesting to see.
Speaker 1 (08:09):
And then I don't know, No, he does have voting power.
Speaker 3 (08:11):
No, but he doesn't have he doesn't have all of
the voting all of it. Yes, But now can they
I don't know, if you know, there's not Let's say
they do their meeting this Thursday. Can he go talk
about it? Can he call Trump orver and say, Hey,
here's what they're thinking thinking about. This is what they're doing. Like,
how does all that.
Speaker 1 (08:26):
I would assume he could. I mean, you you have
a blackout period for the FED members. Oh, I forget
was it two weeks or three weeks before the FED
meeting where they can't do any of their excuse me,
any of their lunch dinner speeches I like to call it.
But other than that, I don't believe. Maybe it's an
unwritten rule that they're not allowed to talk to the
White House, but I've never heard anything official. And I mean,
(08:48):
you can't tell me that that does not go on. Sure,
whether it's legal or not, I bet my bottom dollar
that it goes on.
Speaker 4 (08:54):
So well, you cannot bet which way Lisa Cook's gonna vote.
Speaker 1 (08:58):
So well, let's let's let's break these down. Yeah, we're
jumping ahead because you guys just brought up two great
points I want to kind of lead into. So let's
talk about Steven Moran. So you know right now he
is he is a member of the Trump cabinet. But
he was the one that they just pushed through when
we had that that retirement unexpectedly. And I forget her name.
A few roughly a month ago of the voting member
(09:19):
of the FED. She again quote, got some pressure, she retired.
Then Trump nominated Steven Moran, and again he just as
of last night, got confirmed by the Senate. So he
is going to be sitting at the voting table tomorrow.
Now he only has this, he's taken a leave of
absence from his current White House Cabinet job. But he's
only supposedly going to be on the job, meaning at
the FED until January, until they can appoint someone permanently.
(09:43):
So to Corey's exact point, yeah, now you got a
Trump guy sitting on the on the on the voting
as a voting member of the Fed. Okay, so there's
number one. That number two as to why it was
just saying, remember that name, folks, Lisa Cook. Remember we've
talked about her for for many many shows. She was
the one, of course that Trump went after. She's a
member of the FED voting. Remember, she's the one that
Trump went after, saying, look at you you have I
(10:05):
don't know what the count is now two three primary residences.
Therefore you committed voter fraud. Well, yesterday, what happened, Corey?
They struck down the lower court struck it down or
not the lower court. This was the Appellate court, I
guess struck it down and said, Trump, you can't fire
her until the investigation is done. So now she's not
a Trump fan, of course, and she's sitting on the
on the you know, at the round table. So that's
(10:26):
gonna be interesting, John.
Speaker 2 (10:27):
What else is interesting?
Speaker 4 (10:28):
And I brought this up to a few people because
you brought up last week. I don't know if Corey
was on the show for this Thursday. Is Jerome Powell
doesn't have to leave. He can stay there now members
he's still be a voting just not the chairman.
Speaker 1 (10:44):
And I've yet to see anybody, and you know, he's
not going to say anything, But I've yet to see
anybody that's close to the FED saying, yeah, when when
his term is up in May, that he's going to
stay sitting at the round table. I just I don't know.
I would be shocked. I mean, nothing's out of anything
can happen in Washington, But I just I don't see
(11:05):
it happened. I think I think that'd be a really
uncomfortable position today. You never know. I'm sure it pays, sure,
it pays okay, and got some good benefits. Somebody wants
to stick around. Jeez, those guys when they get done there,
they can and go on the speaking circuit and get
hired as you know, this consultant that consultant and make
a whole bunch of money when they leave the FED.
So we've seen that happen many, many times. So it's
going to be a busy day tomorrow. It's going to
(11:26):
be a very very busy day. But we're going to
focus on today and again our post FED real Estate
playbook will get to that momentarily. But when we come back,
it's going to take us into the world of mortgage rates.
You're gonna be shocked to find out what he has
to say. Let's turn it over to Jack Statement or
excuse me to wait a minute. Jack, you were just
complaining yesterday that that you were you were so glad
(11:47):
that that you didn't have to do it anymore. Is
that still the case? I know we couldn't wait to
have you back, my dear Welcome back to the John
(12:08):
Sanchez Show. On this took seven eighty koh with Dwight Mallard,
Highlands Mortgage Cory, Edge of Edge Reality. All right, here's
how we finished up a one twenty six decline on
the Dow Jones industrial leverage today again a little bit
red there, but like I said, it was down over
two hundred hoars level quarter percent lost there closing level
forty five seven fifty seven nazaklas fifteen. The SMP for
the day down nine well strong with a dollar twenty
(12:30):
four increase, the sixty four to fifty six a barrel
six dollars and twenty cent rise in gold three thousand
and seven twenty five thirty one ounce, and mister Millard,
big goose egg on the ten year tradisury four to
h three. But main and oh man, did we get
some movement today on that thirty year mortgage? Tell the
audience you.
Speaker 2 (12:46):
Are gonna love this.
Speaker 4 (12:47):
So we're we're flirting with near three year lows right now, John, Wow,
So this is yes, that happen I know, right. So
here's what we got today according to mortgage is daily
six point one three down twelve bases point six point
one three and a thirty or fixed, not a fifteen,
(13:08):
a thirty, you're fifteen. What you love is the five
point seven one. So now you start to see that
collapse in a little you see.
Speaker 1 (13:14):
That spread arrow.
Speaker 4 (13:15):
Yeah, and then I like that you always like the
fha vas there five point nine to one. So you know, John,
if they get allude to another one maybe two, rates
will not be the problem if you know, in uh,
in the future, I mean in four or five weeks,
if we're not getting the activity and contracts, I don't
(13:37):
believe it's gonna be rates.
Speaker 2 (13:38):
It's gonna be employment issues.
Speaker 1 (13:40):
It's gonna be employment, it's gonna affordability. It's gonna be
the other three. Right, we got We've got three leagues
to the stool, the rates, the affordability, you know, in
the labor side of things, and we know we're weakening
on the labor. We know affordabilities and issues. So yeah,
I think that's a great point. It's that's gonna be
the real test. That is going to be the real test.
All right. Um, Now, before we get started on our topic,
the post fed real estate playbook, I want to bring
(14:02):
my daughter, Bailey Sanchez on, director of Marketing at Sanchez
Gone Capital Management. We did something yesterday with my brother,
doctor Dennis Sanchez. We gave away the Mastering Chat GPT course.
My brother again was kind enough to do this and Bailey,
the response has been overwhelming, but you want to do,
bring a few points on and I think you wanted
(14:23):
to continue this offer on for another day or so. Correct.
Speaker 5 (14:26):
Absolutely, Yeah, We've had a great response and I want
to make sure that everyone utilizes it. It's a great
free tool. As we say, we keep telling everyone to
get on board with AI and chat SHEEPT, and sometimes
there's not a place to start. So we wanted to
offer that resource to everyone listening. So just a reminder
to everyone. If you it's just a few videos, it
takes you less than an hour to get through it.
(14:46):
Email me Bailey at Sanchez Gaunt dot com. That is
b A I L. E. Y at Sanchez g a
Unt dot com and I'd be happy to send over
that video to you. Tomorrow's our deadline, so shoot me
an email. Let's get you those free resources and get
on track with AI and chat GPT.
Speaker 1 (15:05):
Dwight dot Millard at Highlands Moorings dot com, Corey at
Edge Reality Team dot com. Make sure my two partners
are included in this. Just say the first one.
Speaker 2 (15:17):
I won, I won.
Speaker 4 (15:18):
I won my uh football fantasy football chat GPT.
Speaker 1 (15:22):
Did you all right, okay?
Speaker 4 (15:24):
As to which quarterback I should play and which wide
receiver and gave me both on there you go.
Speaker 1 (15:29):
I love it, you know, real quickly, maybe before you go,
and then we'll guitar topic. Dwight, you were saying something
at the break regarding your beautiful wife and she she
had some surgery and you use chat GPT with the
x rayce tell the audience what happens, so real quick.
Speaker 4 (15:45):
Back in February she had a torn labrum in her
hip and some cartilage damage. So you've got the x
ray and the MRI I, so uh now it's her right,
And then she took the x ray and the MRI
I uploaded both of them and it analyzed it and
out exactly yeah to jet and it it diagnosed it perfectly,
(16:06):
almost almost to exactly what I mean. It referenced that
it matched the same, it didn't have as great a
tear it was it was.
Speaker 1 (16:14):
And again I'm so amazed because I've never heard that use. Right, Corey,
you were saying the same thing, and Bailey, we've never
heard that use for g p T. But yeah, to
analyze two X rays and then nail at exactly what
was wrong.
Speaker 4 (16:25):
I mean, my guinness, I mean, you still have the
doctor comes in on that but I mean just the
fact that you're just going, am I, you know, being
a little sensitive or am I hyperchondriac? No?
Speaker 2 (16:35):
It it clearly identified the.
Speaker 5 (16:38):
Terror and the yeh, there's our selling point right there, guys.
Speaker 1 (16:42):
Yeah, once again to request the mastering chat GBT video
series that my brother, doctor Denis Sanchez, the AI doctors
put together. Uh, just again, mail email Bailey b A
I L E I at Sanchez gon g A U
N T dot com, Bailey at Sanchez got dot com
and you're getting you're sending it all out tomorrow, right,
that's today's the deadline at midnight tonight. That is correct,
no charge again. I'm covering the cost and Dennis is
(17:05):
doing this, et cetera. This is you guys missed it yesterday?
It was a family affair. I had my brother on,
I had Bailey on and myself. So it was the
Sanchez Show yesterday. That was a lot of fun. Yeah,
pick up our podcast if you missed it. That was
a good time yesterday. Definitely. All right, my dear, I
appreciate you, thank you so much. All Right, get the
heck off my screen now you got it? All right? Well,
(17:27):
we're already at bottom of the hour. So let's just
wait till we get back and get a fresh start
on our post fed real estate playbook. You don't want
to miss what the boys put together. It's going to
be some good stuff. How to handle the real estate
market both as a buyer and a seller if we
get our interest straight cut tomorrow. But in the meantime,
start over to Jack Saban. He has news, traffic and weather.
Hey Jack, welcome back to the John Sanchez Show on
(17:48):
News Talk seven to eighty k, which with Dwight Mallard
of Home Home. What do we say home? Because that
was one of the old we're talking old stuff during
the break Highlands Borgage at Corea's of Ability. You're never
gonna change your name, are you? Cory You? I hope
you never changed Edge? Really?
Speaker 3 (18:04):
What would I change it?
Speaker 2 (18:07):
Sharper Edge?
Speaker 3 (18:10):
That's born? Yeah?
Speaker 1 (18:13):
You were with Edd Really you just the name Edge?
Speaker 3 (18:16):
Yeah? I could just go Edge.
Speaker 1 (18:19):
There you go, there you go itedge called Edge?
Speaker 3 (18:22):
Yeah.
Speaker 1 (18:22):
I like that. I like that. They were teach you
about that in all your sports playing days. No, no Edge.
Speaker 3 (18:28):
I told them my own I told them I own
a shaving cream company.
Speaker 1 (18:33):
That's gonna say.
Speaker 4 (18:34):
I'm sure Edge dot com is gone, but yeah, that's true.
Speaker 1 (18:39):
I've never played around with that. All right, let's get
down to business once again. We lost one twenty six
on the down to day, down fifteen on the nailsag
lower by nine on the SMP. We were a bit
on the week Saturday again. Fed interest rate decision tomorrow.
So we put together a post fed real estate playbook
for you. Again. We're gonna kind of hit the high points,
which is what we feel is going to kind of
affect everybody about seven points and then hopefully we can
(19:01):
get to our list on post fed Buyer Checklist and
post Seller Buyer Checklist. So let's get to it. Let's
start with the first one. Mortgage relief.
Speaker 3 (19:13):
Yeah, we'll touching.
Speaker 2 (19:15):
See I got my notes too, John nicely. Yeah, thank you.
Speaker 4 (19:18):
So we've been at this place before. If you've got
a thirty year fixed even above seven, you may find
it extremely beneficial dropping it into a fifteen not change
your payment or you know, slightly one way or the other.
Speaker 1 (19:33):
Yeah, agreed.
Speaker 2 (19:34):
And you just chewed off a ton of inter especially.
Speaker 4 (19:38):
These folks that have been in there, what fourteen, fifteen,
eighteen months, you know, and they're sitting there's some people
I know they're sitting with seven and a half seven
point seventy five, and if you get in to the
fives five and a half on a fifteen year, why
not explore it?
Speaker 2 (19:51):
So at least explore it.
Speaker 1 (19:53):
Love that once again, as Dwight said, according to Mortgage
News Daily Today, the thirty year mortgage down twelve basis
points six point one three, fifteen year five point seven
one to his point, Okay, so mortgage relief, we go
from a thirty down to a fifteen if that makes sense, right.
Second point is also you the refinance rush. I hope
you get a lot of rest right now, because.
Speaker 4 (20:11):
You're already getting starting to see a lot of dialogue
going between senior management and every you know, this could
be a refinance rush that we haven't seen in quite
some time.
Speaker 2 (20:21):
I mean, you know, what was it twenty one, twenty
twenty twenty.
Speaker 4 (20:25):
But yeah, this could be because they're you know, you
figured the last three years we've closed these significantly above
where kind of they're sitting right now. But sure most
people are still waiting because they don't have their point
point and a half two points whatever.
Speaker 2 (20:38):
They think they need.
Speaker 4 (20:40):
But yeah, be ready and That's why we're going to
probably be looking. If it starts to come, you're gonna
start seeing ads to hire people. We're going to you know,
so it's get in early, get it, get your ticket early.
Speaker 1 (20:52):
It's been more more time to wait. It's been a
while because we haven't had rates lower. So it's been
a while since I've asked you this. But let's refresh
everybody's memory. Where do you like to say, see that
spread in other words, that difference, that delta between what
the current mortgage rate is that they have and what
they could get in a new one one percent one
and a half. Where you like to see that With these.
Speaker 4 (21:10):
Guys, I think if you're if you're early on in
your terms, I think you go one one and a
half easy, you know. I think, but if your long term,
if you've already been in it ten ten years or so,
you're going to need a little bit more than that
to probably uh you know. But again, I think what
people are going to be looking for, John is getting
cash out. They're going to take if they had the
opportunity right now, they're going to wrap around their helocks
(21:34):
and any other outstanding debt they can pump into it.
Speaker 2 (21:36):
I think that's what you're going You're gonna see massive
cash out revise.
Speaker 1 (21:40):
You know, that's an interesting point you bring up. This
could be a time people start looking at some of
that student loan debt you've talked about that all of
a sudden has shown up on people's credit reports, credit
card debt, which is at all time high. So yeah,
there could be a lot of uses for cash out money.
That's not that they're the best uses, but just in
the in the uh, in the borrower's mind. Okay, so
a playbooks so far at one point, mortgage relief number two,
(22:02):
the refinance rush number three, Corey. Lower demand, right, this
is what you're hoping.
Speaker 3 (22:07):
I'm praying increased demand. I'm swer rate say yeah, yeah, well,
I mean it could be lower demand. But I back
to Dwight what Dwight just mentioned, and I am glad
he said at the cash out that's going to be
very interesting to see how many people start pulling cash
out at these rates. But for the increased demand, assuming
that a lot of these buyers have been sitting on
the fence because of the cost, which would make complete sense,
(22:28):
then yes, and we're starting to see a little bit
of it. Already, but it could, it could really drive it.
And I think once a bit and twice shy, Right,
these buyers have been through this where their rates start
going down and they kind of waited a little bit,
wait a little bit. They wake up one day and
it's a point higher. And so you know, we've always
preached if you hit a good rate and it satisfies
everything you need, just lock it in and be happy
(22:51):
with it, because don't look back.
Speaker 1 (22:52):
If it's like it's selling a stock and going, oh
my god, I sold it at thirty now it's at
thirty five. It doesn't matter if you hit your goal,
hit what you wanted to place. You never can time
it perfectly.
Speaker 3 (23:02):
Never, Yeah, exactly. So yeah it should. It should lead
to some increased event and we'll get into inventory. But
you got you got a lot of inventory right now.
So it's a good time to, uh to have the
demand increase.
Speaker 1 (23:12):
What are you telling sellers right now? Hold off for
maybe a week or so? Uh If they're calling saying, Corey,
when's the best time for me to you know, if
this demand's going to pick up?
Speaker 3 (23:21):
No, I mean again, but I always preach, just price
it right. And now we're going into what will become
the slower part of the market. So if you want
a super aggressive price, let's wait till spring.
Speaker 1 (23:31):
Okay, okay, very good, all right. Our fourth point in
our post to fed real Estate playbook the price pressure,
talk about that one.
Speaker 3 (23:40):
This could go either way. So again, if you get
more demand, theoretically it should push prices up because everybody's
coming in to buy. I still think there's a pent
up amount of sellers that are trying to sell. I
still think even though they have these low rates, we're
all still Americans, right. Usually they only stay in the
house for seven years. Who I don't know what the
total market has been in their house shipt, but it's
(24:02):
longer than seven years most of it, and so they're
getting antsy. You're seeing houses right now that are on
the market kind of sitting, so you might get a
spurt of buyer demand that just kind of gets through
the current inventory, if that makes sense, without seeing big
spikes either way, because there's a lot of inventory sitting
out there right now to be gobbled up.
Speaker 1 (24:22):
Were we at the latest data, because we haven't covered
August's data, where we at months of inventory? Do you
think I.
Speaker 3 (24:29):
Would say and we'll do August on Thursday. I'll shoot
it over to you. But I'm guessing we're approaching three.
Speaker 1 (24:34):
Months, Okay, okay, still historically low though.
Speaker 3 (24:37):
Yeah, I mean we're coming up from three days, but yeah,
three months.
Speaker 1 (24:41):
So also coming up from two percent mortgages.
Speaker 3 (24:44):
Right, yes, yes, very true, very true.
Speaker 1 (24:47):
All right, our fifth point corey investor advantage. Right when
you are a quote real estate professional and or an investor, right,
you're looking at this property completely different. You're not smelling
the cookies that are baking at the open house. It's
all all about his numbers game. Let's talk about our
fed post rate book on. You know, for the investor
that is out there right now.
Speaker 3 (25:08):
There are a lot of large and I don't mean
large investors like Wall Street, but investors in large projects
that are waiting and waiting and waiting for these rates.
I was talking to a gentleman a couple of months
ago who's a big developer down in kind of the
the LA market and down and there, and I can't
remember how many properties he owns. I think it was
twelve or fifteen, and he said, we're getting through trying
(25:32):
to refinance this, trying to refinance it but he goes,
I can probably only hold on for another eighteen to
twenty four months, and if these rates don't come down,
and just I'm gonna have to fold up because it
doesn't make sense. I can't do it. So that on
the little scale, yes, it'll help, it'll help get the
cash flow a little bit better and help your numbers.
But for these big scale people that have been waiting
how long has it been, three four years? Like, they
(25:54):
need these rates down because they can't hold on much longer.
Speaker 1 (25:57):
And that's one of the reasons, you know, all honesty,
this is one of the reasons Trump has pushed the
FED so much. I mean, he my heard is a
real estate developer. He's got a lot of rich donors
that own a bunch of big real estate. And everybody's
in that boat. They need to refinance, they need to
get their loans that are coming toe out. We've talked
about this, was it Corey twenty twenty seven is the
real major deadline?
Speaker 3 (26:17):
Right?
Speaker 1 (26:18):
Yes, you see a lot of properties potentially default if
rates aren't down. So yeah, this could help out all
aspects of all of use to use the term commercial
slash investment real estate.
Speaker 3 (26:27):
So it's absolutely great point.
Speaker 1 (26:28):
All right, let's go to number seven, the risk of overheating.
And again, Corey, I'm going to stay with you on
this one, because, as you just said, you know, get
too much demand, things get overheat a little bit.
Speaker 3 (26:40):
Yeah. Yeah, And again we'd have some We have a
decent amount of inventory we've got to chew through. And
if we go through there and we don't have the
new houses coming on the market, then you'll get back
to that time where you have ten buyers for every house,
which will cause prices to go up. The interesting thing
is we've been there, right, I mean, every time I
think we've overheated, it just keeps going and going. So oh,
(27:00):
I think we can get through it again. But I
don't think the sellers would love to go through that again.
I don't think the buyers will stomach it. So if we,
to me, if we get to an overheating stage again,
the buyers just may throw it up and say I'm done.
I'm just gonna rant for five years.
Speaker 1 (27:15):
Yeah, yeah, exactly, John.
Speaker 4 (27:18):
I think the big question is going to be at
what point, and we've talked about this back and forth
over the months, are the sellers going to be willing
to trade out that low interest rate that they have
to just go to move on, you know. And I
don't know where that is, but I think we're getting close.
Speaker 1 (27:33):
I think we get too close. Yeah, I don't think
we're there. But everything I've seen is mid to high fives.
We'll get majority off the table that are in that
two and a half three low three percent mortgages. That's
that's the data that I've seen.
Speaker 3 (27:47):
But I'll tell you right now, and it's only been
a small dat these sellers that have put their houses
on the market in the last sixty to ninety days
and they're not getting the numbers they went and they're
still on the market. They're starting to get paniced because
they're counting on i mean, five hundred in the last
five years, and to them, that's in the bank already, right,
And then when it doesn't happen, they get nervous, and
so they're either going to cash out refinance to Dwight's point,
(28:09):
or they may just sell it what they can get
because it's not even though it was a long time
ago two thousand and eight, a lot of these people
lived through that. And every person I've ever talked to
is like I will never do that again.
Speaker 1 (28:21):
So we'll see that's one of those wounds that the
band aid is just getting ripped off. You're absolutely right,
you know, I think more so Corey. People are still
remembering that eighth nine time period in real estate more
than the stock market side. Right, the hell we went
through in the stock market, Yes, no one at my
client's never talked about that, but I hear it all
the time in the real estate side.
Speaker 4 (28:41):
John, that effect that everybody didn't matter, you were right,
no matter who you were, what class.
Speaker 2 (28:46):
What, in fact, that everybody.
Speaker 1 (28:48):
No matter of fact that it was one of those
rare circumstances where the wealthy seemed to get hit. Yeah,
probably worse than anybody else, right, I mean guys with
huge portfolios and they're just like, I'm done. It's like
what you're saying there, I'm done. They and they had
no choice, right, it wasn't a choice. It's like my
bank wont refinance. I don't have the equity in there.
I'm done here, you know, take it over, good luck. Absolutely,
(29:08):
the bank set on it and wait for the price
to go up. All right, we got that done. Now
we come back, guys, we're going to move into our
post fed buyers checklist and post fed sellers checklist. Right,
got an answer, straight cut hope coming hopefully tomorrow. We're
trying to help you prepare for it. Let's wrap it
up with Kristen Snow right now truffic Center. Hello, my dear,
welcome back to the John Sanchez Show on Newstalk seven
(29:29):
to eighty k h mster b lard your phone number.
Speaker 2 (29:31):
Sir, Yes, sir two four zero two zero.
Speaker 3 (29:33):
Two two, Thank you, sir, mister edge six seven three
six seven zero zero.
Speaker 1 (29:38):
Beautiful, Thank you. Boys. All right, we've been talking about
the post fed real estate playbook. Of course, we're gonna
give you all the details of the FED interest rate
decision tomorrow along with the press conference on the show
at three o'clock, so I don't miss that. But in
the meantime, we're trying to get you ready from a
real estate perspective. Right, we covered some really really good
points on the real estate post realest post rate real
estate Playbook. There we go, mortgage relief, we can expect
(30:00):
finance rush, increase, demand, price pressure, investor advantage, seller's edge,
and the risk of overheating. Now, let's kind of break
this down, guys, as far as the buyer's checklist post
a fed buyer's checklist. I let's start with you. It's
right there. Let's get pre approved now.
Speaker 4 (30:15):
Yeah, it's so easy. Now you just go online, you know, John,
most loan officers or companies have you know, apply now
tabs that just take ten minutes to complete. It gives
you the ability. The next one is get the numbers.
Run the numbers right, You're going to need to know
what you know? Do I go back into a thirty?
Do I look at a fifteen?
Speaker 2 (30:34):
What what do I do?
Speaker 3 (30:35):
You know?
Speaker 4 (30:36):
And a lot of these people that got into the
temporary buydowns, this is gonna be the perfect opportunity.
Speaker 2 (30:41):
Or an arm.
Speaker 4 (30:41):
This is why arms. You know we talked about the
rates on arms being elevated. Well, here's the reason why
they're gonna get paid off.
Speaker 1 (30:48):
So you know, you want to give out your website.
Do you want to give out your website for them
to run their numbers.
Speaker 4 (30:53):
It's just Highlands Mortgage Highlands Residential Highlands Mortgage dot com.
Speaker 2 (30:57):
Yeah, and you'll you'll find a white mallard.
Speaker 1 (31:00):
Yeah. Perfect. So okay, So we want to get approved now,
no doubt about that. We want to run the numbers, which, folks,
I'm going to tell you from anutsider looking in Dwight,
it was very humble saying, you know, just go online
and don't don't mess with that. Call Dwight and let
him run the numbers because you don't want to get
your hopes up and go oh but you forgot to
put something in. This is why the man's a professionals
been doing this for thirty five years. Let him run
(31:21):
the numbers and get the pre approval and just be
done with Then you can have fun and call Corey
next and go shopping. Corey. We got to act quickly
if we're if we're a buyer right now, we got
to act quickly if these rates start coming down.
Speaker 3 (31:33):
If they start coming down, and especially if you've been
looking for a while and you have a good agent
that says, hey, I've talked to the listing agent. There
might be multiple offers. Yes, put your best foot forward,
do your best offer. Don't the negotiating. It just doesn't
work that way. It's if the price is fair, give
give them the money. I mean, that's just what it
boils down to.
Speaker 1 (31:50):
Love it. Love that, especially for those of you that
have been on the real estate market a long time, right,
our old days is well, you negotiate till you you're
making making the seller bleed. Doesn't work that way anymore
at all. And Dwight back to you. You know what,
we're excited. Rates coming down finally we were here all
these years we've been with these higher rates. But don't
overstretch yourself.
Speaker 4 (32:09):
No, no, John, you're you're right. I mean, that's why
you need a true professional. Don't don't take more than
you can chew, because it's too easy to get yourself
back into a problem where you you know, and you know,
just know the facts. Get more information is very very
helpful right now, you know, so absolutely it'll be it'll
be a busy time if we get you know, if
(32:29):
we get multiple decreases, it can be a busy time.
Speaker 1 (32:32):
So you got it, You got it. Okay, let's go
into the post fed seller's checklist. Corey. First point you
brought up, reevaluate the price inside of things.
Speaker 3 (32:41):
If you have a house that's been on the market
longer than I don't know, pick a number thirty days,
your price too high, I mean, and that's just the
bottom line. There's you can switch agents, you can do
one hundred open houses. You can put flyers everywhere. You want.
Your price too high, so reevaluate the pricing. That's probably
the problem. Can't ready for it. If we do see
this big surgeon demand, then you can take you know,
(33:04):
the correct price and maybe add a little bit to
it and see what happens. But if you're price right
and you get a big demand, then you will get
the multiple offers that'll push it up. But if your
price too high, you're just going to miss the whole
the whole thing's.
Speaker 1 (33:17):
Right right, exactly, all right, Dwight, Let's go to to
your next point highlight a financing show case.
Speaker 4 (33:23):
Oh yeah, showcase where rates are going to be, where
they're at, you know what the savings will be. People
are just all about the savings, all about the payment, right,
So this will be the time that people really really
need to just dive into what apple for apple? Right?
Don't let somebody not include taxes and insurance and things
like that.
Speaker 2 (33:41):
You know, this is make sure that you're getting an
apple for apple. But you should see.
Speaker 4 (33:46):
Hundreds of dollars coming off if depending where you're at.
Speaker 1 (33:49):
Sokay, you know, all right? Real quick, guys, Coreyt prepare
for the demand for your seller.
Speaker 3 (33:54):
Yeah, just have the house fixed up, ready to go.
If you can offer it as turnkey, meaning there's not
a bunch of stuff to do. The buyers prefer that
over a bunch of repairs, okay, after they own it perfect.
Speaker 1 (34:04):
And finally, Dwight, consider the timing.
Speaker 4 (34:07):
Yeah, I mean this is going to give you lots
of leverage. You've got You're going to have multiple decisions
to make more cash out, less cash out.
Speaker 2 (34:14):
Do it, just do Yeah, it's going.
Speaker 4 (34:16):
To give you a lot of leverage, a lot of leverage,
ability to buy more, buy more house.
Speaker 1 (34:20):
You got it all righty boys, excellent job as always.
We will do it again tomorrow and John Sanchez show
happy post fed meeting tomorrow. God buzz, have a great afternoon. DWAIGHTE.
Millard n MLSID number two four one two five nine
a license mortgage Loan Officer with Highlands Residential Mortgage Limited
and Equal Housing Lender and MLSID number one three four
eight seven one. The information shared on this live broadcast
(34:42):
is for general information purposes only and does not constitute
financial or mortgage advice. Listeners should consult directly with a
license mortgage professional for guidance tailored to their specific situation.
All loans are subject to credit approval and program guidelines.
Not all applicants will qualify. Loan terms and availability may
vary by state and are subject to change without notice.
(35:03):
Highlands Residential Mortgage Limited is licensed in multiple states. For
a full list of state licenses and disclosures, please visit
https slash slash www dot Highlandsmortgage dot com backslash licenses backslash.
The views expressed during this program are their own and
do not necessarily reflect those of Highlands Residential Mortgage Limited.
Good Tuesday afternoon to you. Welcome to the John Sanchez
Show on News Talk seven eighty k which it's a
pleasure to be with you on a pleasure to be
with my co host. Got everybody on board. Mister Edge's back,
mister Millard's here. It's a good day. It's a good
day in the neighborhood, the White Millard Highlands Mortgage. How
are you and my friend?
Speaker 2 (00:19):
I'm doing fantastic. All the family, right.
Speaker 1 (00:21):
All in the family.
Speaker 3 (00:22):
Family.
Speaker 4 (00:23):
Yeah, I'm doing fantastic. Hopefully tomorrow will even be better.
Speaker 1 (00:26):
Let's hope, so brother, Let's hope so absolutely. Corey insividuality.
Back from a very successful soccer tournament for your son.
I am so happy for you many they won the
big tournament and uh yeah you're smiling Dad.
Speaker 3 (00:40):
Yeah, I mean I have the easy part. I just
get to fly and watch. But yeah, they played really good.
That was a good time.
Speaker 1 (00:47):
That is so awesome. And that was a big tournament,
you said, right, thirty.
Speaker 3 (00:50):
Yeah, thirty six teams from around the country.
Speaker 1 (00:52):
Yeah, wow, that's amazing. They won the whole thing. That's amazing.
Way to go, way to go, fun times, good deal,
good deal. Absolutely all right, we'll speaking a FN times,
We're gonna have a great time with you this afternoon.
Let me tell you what we have lined up for you,
post FED real estate playbook. That's right, post FED real
estate playbook. What do we mean by that? Well, tomorrow,
(01:13):
of course, as Dwight was alluding to, we're gonna have
our FED interest straight decision at eleven o'clock followed by
the press conference of Jerome Paalad eleven thirty. We know
with all confidence that, of course nothing's for sure, but
with all confidence that the Fed is going to give
us our quarter percent cut tomorrow. But what the Street's
going to be looking for? What Dwight's bond market's going
to be looking for? Something very simple, and that is,
are there going to be more that are coming? Right?
(01:35):
That's what could derail this excitement, this happiness, et cetera
that everybody wants. As we've said for weeks, maybe even
over months, it is already priced into the bond market,
it's already priced into the stock market at the quarter
percent cut. What we don't know is are we going
to get two more as the street wants at this point? Right?
That's the odds are still pretty good north of seventy
(01:56):
percent for both of those scenarios cut in October and
one Indie, and we're going to see a course of
Chairman Pal says anything. I don't know why, guys, I
even you know, waste my time saying that, because we
all know what he's gonna do. He's gonna say, we're
data dependent. We're just gonna wait and see, right. I mean,
it's the same old thing over and over again. But
this is what it's all about. So let me tell
(02:16):
you what we have lined up for you this afternoon.
So we get this quarter percent cut tomorrow. Great, Okay,
that's what everybody, like I said, is looking for. What
does this mean? Well, we've got lower borrowing costs, which
of course will open the doors for buyers. It will
open the doors for sellers and investors, right, but it
also comes with some new risks, that's right. So this afternoon,
what we're gonna do is we're going to break down
the strategies that the boys will put together for you
(02:39):
of what you need to do to win in a
post fed housing market. Right, So this is going to
be interesting. We've got again a lot of great points,
about seven of them that we're going to go through
and then then we're gonna have time permitting, We're gonna
break down how's the buyer going to benefit from a
post interest straight cut? How's the seller going to benefit
(02:59):
from it? Cory? Are you? Are you getting any phone
calls at this point? Then question is going to go
the same to you, Dwight ahead of the FED meeting tomorrow.
Speaker 3 (03:09):
Well, I wouldn't say. I wouldn't say because of the
FED meeting. But as we all know, sometimes the public
thinks the FED meeting is the thing that's right triggers it.
But the rights and Duytle, you know, tell us about it.
The rights have been steadily going down. So I have
seen an uptick in activity, which I'm guessing is from that.
Dwight probably knows better than I do, but I think
(03:30):
not a direct Well maybe it is directly from you
know what Powell said in Jackson Hole that got this
whole ball rolling. So yes, to answer your question, the
buyers seem to be more engaged now that rates are falling.
Speaker 1 (03:44):
Right right, Well, Dwight, that's been indicative by the mortgage
application data that we receive each and every Wednesday. We'll
get it tomorrow, but you're up what if I remember
the twenties. Yeah, yeah, in the twenties there again. Yeah,
it'll probably be there again, exactly. So phone volume etcter
with you, Dwight ahead of the FED interest rate decision. Mark.
Speaker 4 (04:05):
Yes, it's starting to pick up, and it's encouraging out
there because I believe there's a lot of people we've
talked about this, you know, who's going to how are
you gonna get drawn out? But there'll be a headline tomorrow, right,
These people will see it on the internet wherever they
go find their their their news. They'll see a quarter
point reduction. Rates are going down. Rates are down. So
you'll see some natural reaction just to that. But then
(04:28):
you know, we'll wait and see if there's.
Speaker 2 (04:30):
More to come.
Speaker 1 (04:31):
Absolutely, were you guys aware that tomorrow is also the
dot plot.
Speaker 2 (04:36):
Oh no, I didn't know that.
Speaker 1 (04:37):
Yeah, I know that. Yeah, tomorrow we got the dot
pop the the of course, the official name is the
Summary of Economic Projections, And this is again we make
it really simple when we explain this one. This is
where each member of the Fed gets to put on
a little piece of paper where they think interest rates
are going to be over the next year, two years,
and sometimes even five years. I'm just saying this again
very basically, but you get my point. They get to,
(05:00):
again on a personal basis, make their best guesstimate as
to where they think rates are going to go, where
they want them to go, et cetera. So the street,
the bond market pays a lot of attention to the
summer of economic projections because, as I said a moment ago,
what we want to hear is when's the net cut,
next cut going to come? When's the one after that
gonna come? And this will give us a little bit
of indication going forward there. So, like I said, we
(05:22):
need we need to know October December are they on
the table? You know, guys, I was thinking as I
was saying that about the October and December media. I
think this is a good time to remind everybody, especially
if you again are new to the show, new to
the market. Here's what we always caution all of you
want Wall Street. I'm going to use the analogies I've
used a million times. Wall Street is a bunch of
(05:42):
spoiled brats. If they don't get what they want, they
will throw a temper tatrum. And when I mean temper tantrum.
It's selling. It's either driving you know, bond price is lower,
which drives the yields up, or driving stock market prices lower. Right.
They if they don't get what they want, they're going
to do that and we are prying. So here's the negative.
We are primed for that to happen. This market is
(06:04):
very expensive on an earnings evaluation standpoint. It's price for perfection.
We've got Ai driving this whole train at this point.
There's a lot of things this market wants. And I
get nervous when we get to these levels. I think Corey,
you and I last Tuesday we were chatting off air,
and you said, do you get nervous about, you know,
when the market's setting record after record? I said, yeah,
I get more scared. You know, let's say that facetiously,
(06:26):
but I get more scared when the market's setting record
after record than when you know, we're down on the
dul drums and we can pick and choose where we
want to buy and so on and so forth. Because today,
guys almost felt like that. Where we came in, there
was no bad news whatsoever. We had some pretty good
economic reports, and then literally in the blink of an eye.
They started selling the market off before you knew it
that Dow was down two hundred points, Nasdaq went from
(06:46):
close to one hundred point gained, you know, down negative slightly,
and I was like, uh oh, this is it. And
this is the point I'm trying to make is if
the market does not hear from the Fed tomorrow that
another rate cut is coming, or at least some good
hints about it, it could be a old temper tam
Truman or taper tam term as we call it. And Dwight,
you brought up a great point on Thursday saying, hey, John,
remember we've got a half a percent cut, know, months back,
(07:08):
and look at what happened. Mortgage rate shot up, stock
market went down. So you never really know. And that's
why I keep emphasizing and the boys keep emphasizing, it's
all about what Jerome Palace is at the press conference
and now what the dot plot it's going to say, Corey.
Speaker 3 (07:21):
I think it'll be and I'm sure we won't hear
it tomorrow, but in the future we'll hear about Stephen Murray.
I don't know how I say, ram Yep, Mirane sitting
on the board, what's he going to say at the meeting.
I guess we'll hear about it when the minutes come
out in thirty or sixty days, how hard he pushes.
But it'll be interesting. I don't know, I'm just being funny.
I guess it'll be interesting to see. I'm sure Jerome
(07:41):
Powe will get a lot of questions about that. I'm
sure at some point Stephen Moran or whatever his name is,
we'll go out and do his own press or and
talk about things like this is I think the market
will look at that decision in the future. But I
think this side show stuff could get interesting, right because
now you have basically a Trump devotee sitting in there
(08:02):
that can raise chaos if he really wants to. He
doesn't have the voting power, but it'll be interesting to see.
Speaker 1 (08:09):
And then I don't know, No, he does have voting power.
Speaker 3 (08:11):
No, but he doesn't have he doesn't have all of
the voting all of it. Yes, But now can they
I don't know, if you know, there's not Let's say
they do their meeting this Thursday. Can he go talk
about it? Can he call Trump orver and say, Hey,
here's what they're thinking thinking about. This is what they're doing. Like,
how does all that.
Speaker 1 (08:26):
I would assume he could. I mean, you you have
a blackout period for the FED members. Oh, I forget
was it two weeks or three weeks before the FED
meeting where they can't do any of their excuse me,
any of their lunch dinner speeches I like to call it.
But other than that, I don't believe. Maybe it's an
unwritten rule that they're not allowed to talk to the
White House, but I've never heard anything official. And I mean,
(08:48):
you can't tell me that that does not go on. Sure,
whether it's legal or not, I bet my bottom dollar
that it goes on.
Speaker 4 (08:54):
So well, you cannot bet which way Lisa Cook's gonna vote.
Speaker 1 (08:58):
So well, let's let's let's break these down. Yeah, we're
jumping ahead because you guys just brought up two great
points I want to kind of lead into. So let's
talk about Steven Moran. So you know right now he
is he is a member of the Trump cabinet. But
he was the one that they just pushed through when
we had that that retirement unexpectedly. And I forget her name.
A few roughly a month ago of the voting member
(09:19):
of the FED. She again quote, got some pressure, she retired.
Then Trump nominated Steven Moran, and again he just as
of last night, got confirmed by the Senate. So he
is going to be sitting at the voting table tomorrow.
Now he only has this, he's taken a leave of
absence from his current White House Cabinet job. But he's
only supposedly going to be on the job, meaning at
the FED until January, until they can appoint someone permanently.
(09:43):
So to Corey's exact point, yeah, now you got a
Trump guy sitting on the on the on the voting
as a voting member of the Fed. Okay, so there's
number one. That number two as to why it was
just saying, remember that name, folks, Lisa Cook. Remember we've
talked about her for for many many shows. She was
the one, of course that Trump went after. She's a
member of the FED voting. Remember, she's the one that
Trump went after, saying, look at you you have I
(10:05):
don't know what the count is now two three primary residences.
Therefore you committed voter fraud. Well, yesterday, what happened, Corey?
They struck down the lower court struck it down or
not the lower court. This was the Appellate court, I
guess struck it down and said, Trump, you can't fire
her until the investigation is done. So now she's not
a Trump fan, of course, and she's sitting on the
on the you know, at the round table. So that's
(10:26):
gonna be interesting, John.
Speaker 2 (10:27):
What else is interesting?
Speaker 4 (10:28):
And I brought this up to a few people because
you brought up last week. I don't know if Corey
was on the show for this Thursday. Is Jerome Powell
doesn't have to leave. He can stay there now members
he's still be a voting just not the chairman.
Speaker 1 (10:44):
And I've yet to see anybody, and you know, he's
not going to say anything, But I've yet to see
anybody that's close to the FED saying, yeah, when when
his term is up in May, that he's going to
stay sitting at the round table. I just I don't know.
I would be shocked. I mean, nothing's out of anything
can happen in Washington, But I just I don't see
(11:05):
it happened. I think I think that'd be a really
uncomfortable position today. You never know. I'm sure it pays, sure,
it pays okay, and got some good benefits. Somebody wants
to stick around. Jeez, those guys when they get done there,
they can and go on the speaking circuit and get
hired as you know, this consultant that consultant and make
a whole bunch of money when they leave the FED.
So we've seen that happen many, many times. So it's
going to be a busy day tomorrow. It's going to
(11:26):
be a very very busy day. But we're going to
focus on today and again our post FED real Estate
playbook will get to that momentarily. But when we come back,
it's going to take us into the world of mortgage rates.
You're gonna be shocked to find out what he has
to say. Let's turn it over to Jack Statement or
excuse me to wait a minute. Jack, you were just
complaining yesterday that that you were you were so glad
(11:47):
that that you didn't have to do it anymore. Is
that still the case? I know we couldn't wait to
have you back, my dear Welcome back to the John
(12:08):
Sanchez Show. On this took seven eighty koh with Dwight Mallard,
Highlands Mortgage Cory, Edge of Edge Reality. All right, here's
how we finished up a one twenty six decline on
the Dow Jones industrial leverage today again a little bit
red there, but like I said, it was down over
two hundred hoars level quarter percent lost there closing level
forty five seven fifty seven nazaklas fifteen. The SMP for
the day down nine well strong with a dollar twenty
(12:30):
four increase, the sixty four to fifty six a barrel
six dollars and twenty cent rise in gold three thousand
and seven twenty five thirty one ounce, and mister Millard,
big goose egg on the ten year tradisury four to
h three. But main and oh man, did we get
some movement today on that thirty year mortgage? Tell the
audience you.
Speaker 2 (12:46):
Are gonna love this.
Speaker 4 (12:47):
So we're we're flirting with near three year lows right now, John, Wow,
So this is yes, that happen I know, right. So
here's what we got today according to mortgage is daily
six point one three down twelve bases point six point
one three and a thirty or fixed, not a fifteen,
(13:08):
a thirty, you're fifteen. What you love is the five
point seven one. So now you start to see that
collapse in a little you see.
Speaker 1 (13:14):
That spread arrow.
Speaker 4 (13:15):
Yeah, and then I like that you always like the
fha vas there five point nine to one. So you know, John,
if they get allude to another one maybe two, rates
will not be the problem if you know, in uh,
in the future, I mean in four or five weeks,
if we're not getting the activity and contracts, I don't
(13:37):
believe it's gonna be rates.
Speaker 2 (13:38):
It's gonna be employment issues.
Speaker 1 (13:40):
It's gonna be employment, it's gonna affordability. It's gonna be
the other three. Right, we got We've got three leagues
to the stool, the rates, the affordability, you know, in
the labor side of things, and we know we're weakening
on the labor. We know affordabilities and issues. So yeah,
I think that's a great point. It's that's gonna be
the real test. That is going to be the real test.
All right. Um, Now, before we get started on our topic,
the post fed real estate playbook, I want to bring
(14:02):
my daughter, Bailey Sanchez on, director of Marketing at Sanchez
Gone Capital Management. We did something yesterday with my brother,
doctor Dennis Sanchez. We gave away the Mastering Chat GPT course.
My brother again was kind enough to do this and Bailey,
the response has been overwhelming, but you want to do,
bring a few points on and I think you wanted
(14:23):
to continue this offer on for another day or so. Correct.
Speaker 5 (14:26):
Absolutely, Yeah, We've had a great response and I want
to make sure that everyone utilizes it. It's a great
free tool. As we say, we keep telling everyone to
get on board with AI and chat SHEEPT, and sometimes
there's not a place to start. So we wanted to
offer that resource to everyone listening. So just a reminder
to everyone. If you it's just a few videos, it
takes you less than an hour to get through it.
(14:46):
Email me Bailey at Sanchez Gaunt dot com. That is
b A I L. E. Y at Sanchez g a
Unt dot com and I'd be happy to send over
that video to you. Tomorrow's our deadline, so shoot me
an email. Let's get you those free resources and get
on track with AI and chat GPT.
Speaker 1 (15:05):
Dwight dot Millard at Highlands Moorings dot com, Corey at
Edge Reality Team dot com. Make sure my two partners
are included in this. Just say the first one.
Speaker 2 (15:17):
I won, I won.
Speaker 4 (15:18):
I won my uh football fantasy football chat GPT.
Speaker 1 (15:22):
Did you all right, okay?
Speaker 4 (15:24):
As to which quarterback I should play and which wide
receiver and gave me both on there you go.
Speaker 1 (15:29):
I love it, you know, real quickly, maybe before you go,
and then we'll guitar topic. Dwight, you were saying something
at the break regarding your beautiful wife and she she
had some surgery and you use chat GPT with the
x rayce tell the audience what happens, so real quick.
Speaker 4 (15:45):
Back in February she had a torn labrum in her
hip and some cartilage damage. So you've got the x
ray and the MRI I, so uh now it's her right,
And then she took the x ray and the MRI
I uploaded both of them and it analyzed it and
out exactly yeah to jet and it it diagnosed it perfectly,
(16:06):
almost almost to exactly what I mean. It referenced that
it matched the same, it didn't have as great a
tear it was it was.
Speaker 1 (16:14):
And again I'm so amazed because I've never heard that use. Right, Corey,
you were saying the same thing, and Bailey, we've never
heard that use for g p T. But yeah, to
analyze two X rays and then nail at exactly what
was wrong.
Speaker 4 (16:25):
I mean, my guinness, I mean, you still have the
doctor comes in on that but I mean just the
fact that you're just going, am I, you know, being
a little sensitive or am I hyperchondriac? No?
Speaker 2 (16:35):
It it clearly identified the.
Speaker 5 (16:38):
Terror and the yeh, there's our selling point right there, guys.
Speaker 1 (16:42):
Yeah, once again to request the mastering chat GBT video
series that my brother, doctor Denis Sanchez, the AI doctors
put together. Uh, just again, mail email Bailey b A
I L E I at Sanchez gon g A U
N T dot com, Bailey at Sanchez got dot com
and you're getting you're sending it all out tomorrow, right,
that's today's the deadline at midnight tonight. That is correct,
no charge again. I'm covering the cost and Dennis is
(17:05):
doing this, et cetera. This is you guys missed it yesterday?
It was a family affair. I had my brother on,
I had Bailey on and myself. So it was the
Sanchez Show yesterday. That was a lot of fun. Yeah,
pick up our podcast if you missed it. That was
a good time yesterday. Definitely. All right, my dear, I
appreciate you, thank you so much. All Right, get the
heck off my screen now you got it? All right? Well,
(17:27):
we're already at bottom of the hour. So let's just
wait till we get back and get a fresh start
on our post fed real estate playbook. You don't want
to miss what the boys put together. It's going to
be some good stuff. How to handle the real estate
market both as a buyer and a seller if we
get our interest straight cut tomorrow. But in the meantime,
start over to Jack Saban. He has news, traffic and weather.
Hey Jack, welcome back to the John Sanchez Show on
(17:48):
News Talk seven to eighty k, which with Dwight Mallard
of Home Home. What do we say home? Because that
was one of the old we're talking old stuff during
the break Highlands Borgage at Corea's of Ability. You're never
gonna change your name, are you? Cory You? I hope
you never changed Edge? Really?
Speaker 3 (18:04):
What would I change it?
Speaker 2 (18:07):
Sharper Edge?
Speaker 3 (18:10):
That's born? Yeah?
Speaker 1 (18:13):
You were with Edd Really you just the name Edge?
Speaker 3 (18:16):
Yeah? I could just go Edge.
Speaker 1 (18:19):
There you go, there you go itedge called Edge?
Speaker 3 (18:22):
Yeah.
Speaker 1 (18:22):
I like that. I like that. They were teach you
about that in all your sports playing days. No, no Edge.
Speaker 3 (18:28):
I told them my own I told them I own
a shaving cream company.
Speaker 1 (18:33):
That's gonna say.
Speaker 4 (18:34):
I'm sure Edge dot com is gone, but yeah, that's true.
Speaker 1 (18:39):
I've never played around with that. All right, let's get
down to business once again. We lost one twenty six
on the down to day, down fifteen on the nailsag
lower by nine on the SMP. We were a bit
on the week Saturday again. Fed interest rate decision tomorrow.
So we put together a post fed real estate playbook
for you. Again. We're gonna kind of hit the high points,
which is what we feel is going to kind of
affect everybody about seven points and then hopefully we can
(19:01):
get to our list on post fed Buyer Checklist and
post Seller Buyer Checklist. So let's get to it. Let's
start with the first one. Mortgage relief.
Speaker 3 (19:13):
Yeah, we'll touching.
Speaker 2 (19:15):
See I got my notes too, John nicely. Yeah, thank you.
Speaker 4 (19:18):
So we've been at this place before. If you've got
a thirty year fixed even above seven, you may find
it extremely beneficial dropping it into a fifteen not change
your payment or you know, slightly one way or the other.
Speaker 1 (19:33):
Yeah, agreed.
Speaker 2 (19:34):
And you just chewed off a ton of inter especially.
Speaker 4 (19:38):
These folks that have been in there, what fourteen, fifteen,
eighteen months, you know, and they're sitting there's some people
I know they're sitting with seven and a half seven
point seventy five, and if you get in to the
fives five and a half on a fifteen year, why
not explore it?
Speaker 2 (19:51):
So at least explore it.
Speaker 1 (19:53):
Love that once again, as Dwight said, according to Mortgage
News Daily Today, the thirty year mortgage down twelve basis
points six point one three, fifteen year five point seven
one to his point, Okay, so mortgage relief, we go
from a thirty down to a fifteen if that makes sense, right.
Second point is also you the refinance rush. I hope
you get a lot of rest right now, because.
Speaker 4 (20:11):
You're already getting starting to see a lot of dialogue
going between senior management and every you know, this could
be a refinance rush that we haven't seen in quite
some time.
Speaker 2 (20:21):
I mean, you know, what was it twenty one, twenty
twenty twenty.
Speaker 4 (20:25):
But yeah, this could be because they're you know, you
figured the last three years we've closed these significantly above
where kind of they're sitting right now. But sure most
people are still waiting because they don't have their point
point and a half two points whatever.
Speaker 2 (20:38):
They think they need.
Speaker 4 (20:40):
But yeah, be ready and That's why we're going to
probably be looking. If it starts to come, you're gonna
start seeing ads to hire people. We're going to you know,
so it's get in early, get it, get your ticket early.
Speaker 1 (20:52):
It's been more more time to wait. It's been a
while because we haven't had rates lower. So it's been
a while since I've asked you this. But let's refresh
everybody's memory. Where do you like to say, see that
spread in other words, that difference, that delta between what
the current mortgage rate is that they have and what
they could get in a new one one percent one
and a half. Where you like to see that With these.
Speaker 4 (21:10):
Guys, I think if you're if you're early on in
your terms, I think you go one one and a
half easy, you know. I think, but if your long term,
if you've already been in it ten ten years or so,
you're going to need a little bit more than that
to probably uh you know. But again, I think what
people are going to be looking for, John is getting
cash out. They're going to take if they had the
opportunity right now, they're going to wrap around their helocks
(21:34):
and any other outstanding debt they can pump into it.
Speaker 2 (21:36):
I think that's what you're going You're gonna see massive
cash out revise.
Speaker 1 (21:40):
You know, that's an interesting point you bring up. This
could be a time people start looking at some of
that student loan debt you've talked about that all of
a sudden has shown up on people's credit reports, credit
card debt, which is at all time high. So yeah,
there could be a lot of uses for cash out money.
That's not that they're the best uses, but just in
the in the uh, in the borrower's mind. Okay, so
a playbooks so far at one point, mortgage relief number two,
(22:02):
the refinance rush number three, Corey. Lower demand, right, this
is what you're hoping.
Speaker 3 (22:07):
I'm praying increased demand. I'm swer rate say yeah, yeah, well,
I mean it could be lower demand. But I back
to Dwight what Dwight just mentioned, and I am glad
he said at the cash out that's going to be
very interesting to see how many people start pulling cash
out at these rates. But for the increased demand, assuming
that a lot of these buyers have been sitting on
the fence because of the cost, which would make complete sense,
(22:28):
then yes, and we're starting to see a little bit
of it. Already, but it could, it could really drive it.
And I think once a bit and twice shy, Right,
these buyers have been through this where their rates start
going down and they kind of waited a little bit,
wait a little bit. They wake up one day and
it's a point higher. And so you know, we've always
preached if you hit a good rate and it satisfies
everything you need, just lock it in and be happy
(22:51):
with it, because don't look back.
Speaker 1 (22:52):
If it's like it's selling a stock and going, oh
my god, I sold it at thirty now it's at
thirty five. It doesn't matter if you hit your goal,
hit what you wanted to place. You never can time
it perfectly.
Speaker 3 (23:02):
Never, Yeah, exactly. So yeah it should. It should lead
to some increased event and we'll get into inventory. But
you got you got a lot of inventory right now.
So it's a good time to, uh to have the
demand increase.
Speaker 1 (23:12):
What are you telling sellers right now? Hold off for
maybe a week or so? Uh If they're calling saying, Corey,
when's the best time for me to you know, if
this demand's going to pick up?
Speaker 3 (23:21):
No, I mean again, but I always preach, just price
it right. And now we're going into what will become
the slower part of the market. So if you want
a super aggressive price, let's wait till spring.
Speaker 1 (23:31):
Okay, okay, very good, all right. Our fourth point in
our post to fed real Estate playbook the price pressure,
talk about that one.
Speaker 3 (23:40):
This could go either way. So again, if you get
more demand, theoretically it should push prices up because everybody's
coming in to buy. I still think there's a pent
up amount of sellers that are trying to sell. I
still think even though they have these low rates, we're
all still Americans, right. Usually they only stay in the
house for seven years. Who I don't know what the
total market has been in their house shipt, but it's
(24:02):
longer than seven years most of it, and so they're
getting antsy. You're seeing houses right now that are on
the market kind of sitting, so you might get a
spurt of buyer demand that just kind of gets through
the current inventory, if that makes sense, without seeing big
spikes either way, because there's a lot of inventory sitting
out there right now to be gobbled up.
Speaker 1 (24:22):
Were we at the latest data, because we haven't covered
August's data, where we at months of inventory? Do you
think I.
Speaker 3 (24:29):
Would say and we'll do August on Thursday. I'll shoot
it over to you. But I'm guessing we're approaching three.
Speaker 1 (24:34):
Months, Okay, okay, still historically low though.
Speaker 3 (24:37):
Yeah, I mean we're coming up from three days, but yeah,
three months.
Speaker 1 (24:41):
So also coming up from two percent mortgages.
Speaker 3 (24:44):
Right, yes, yes, very true, very true.
Speaker 1 (24:47):
All right, our fifth point corey investor advantage. Right when
you are a quote real estate professional and or an investor, right,
you're looking at this property completely different. You're not smelling
the cookies that are baking at the open house. It's
all all about his numbers game. Let's talk about our
fed post rate book on. You know, for the investor
that is out there right now.
Speaker 3 (25:08):
There are a lot of large and I don't mean
large investors like Wall Street, but investors in large projects
that are waiting and waiting and waiting for these rates.
I was talking to a gentleman a couple of months
ago who's a big developer down in kind of the
the LA market and down and there, and I can't
remember how many properties he owns. I think it was
twelve or fifteen, and he said, we're getting through trying
(25:32):
to refinance this, trying to refinance it but he goes,
I can probably only hold on for another eighteen to
twenty four months, and if these rates don't come down,
and just I'm gonna have to fold up because it
doesn't make sense. I can't do it. So that on
the little scale, yes, it'll help, it'll help get the
cash flow a little bit better and help your numbers.
But for these big scale people that have been waiting
how long has it been, three four years? Like, they
(25:54):
need these rates down because they can't hold on much longer.
Speaker 1 (25:57):
And that's one of the reasons, you know, all honesty,
this is one of the reasons Trump has pushed the
FED so much. I mean, he my heard is a
real estate developer. He's got a lot of rich donors
that own a bunch of big real estate. And everybody's
in that boat. They need to refinance, they need to
get their loans that are coming toe out. We've talked
about this, was it Corey twenty twenty seven is the
real major deadline?
Speaker 3 (26:17):
Right?
Speaker 1 (26:18):
Yes, you see a lot of properties potentially default if
rates aren't down. So yeah, this could help out all
aspects of all of use to use the term commercial
slash investment real estate.
Speaker 3 (26:27):
So it's absolutely great point.
Speaker 1 (26:28):
All right, let's go to number seven, the risk of overheating.
And again, Corey, I'm going to stay with you on
this one, because, as you just said, you know, get
too much demand, things get overheat a little bit.
Speaker 3 (26:40):
Yeah. Yeah, And again we'd have some We have a
decent amount of inventory we've got to chew through. And
if we go through there and we don't have the
new houses coming on the market, then you'll get back
to that time where you have ten buyers for every house,
which will cause prices to go up. The interesting thing
is we've been there, right, I mean, every time I
think we've overheated, it just keeps going and going. So oh,
(27:00):
I think we can get through it again. But I
don't think the sellers would love to go through that again.
I don't think the buyers will stomach it. So if we,
to me, if we get to an overheating stage again,
the buyers just may throw it up and say I'm done.
I'm just gonna rant for five years.
Speaker 1 (27:15):
Yeah, yeah, exactly, John.
Speaker 4 (27:18):
I think the big question is going to be at
what point, and we've talked about this back and forth
over the months, are the sellers going to be willing
to trade out that low interest rate that they have
to just go to move on, you know. And I
don't know where that is, but I think we're getting close.
Speaker 1 (27:33):
I think we get too close. Yeah, I don't think
we're there. But everything I've seen is mid to high fives.
We'll get majority off the table that are in that
two and a half three low three percent mortgages. That's
that's the data that I've seen.
Speaker 3 (27:47):
But I'll tell you right now, and it's only been
a small dat these sellers that have put their houses
on the market in the last sixty to ninety days
and they're not getting the numbers they went and they're
still on the market. They're starting to get paniced because
they're counting on i mean, five hundred in the last
five years, and to them, that's in the bank already, right,
And then when it doesn't happen, they get nervous, and
so they're either going to cash out refinance to Dwight's point,
(28:09):
or they may just sell it what they can get
because it's not even though it was a long time
ago two thousand and eight, a lot of these people
lived through that. And every person I've ever talked to
is like I will never do that again.
Speaker 1 (28:21):
So we'll see that's one of those wounds that the
band aid is just getting ripped off. You're absolutely right,
you know, I think more so Corey. People are still
remembering that eighth nine time period in real estate more
than the stock market side. Right, the hell we went
through in the stock market, Yes, no one at my
client's never talked about that, but I hear it all
the time in the real estate side.
Speaker 4 (28:41):
John, that effect that everybody didn't matter, you were right,
no matter who you were, what class.
Speaker 2 (28:46):
What, in fact, that everybody.
Speaker 1 (28:48):
No matter of fact that it was one of those
rare circumstances where the wealthy seemed to get hit. Yeah,
probably worse than anybody else, right, I mean guys with
huge portfolios and they're just like, I'm done. It's like
what you're saying there, I'm done. They and they had
no choice, right, it wasn't a choice. It's like my
bank wont refinance. I don't have the equity in there.
I'm done here, you know, take it over, good luck. Absolutely,
(29:08):
the bank set on it and wait for the price
to go up. All right, we got that done. Now
we come back, guys, we're going to move into our
post fed buyers checklist and post fed sellers checklist. Right,
got an answer, straight cut hope coming hopefully tomorrow. We're
trying to help you prepare for it. Let's wrap it
up with Kristen Snow right now truffic Center. Hello, my dear,
welcome back to the John Sanchez Show on Newstalk seven
(29:29):
to eighty k h mster b lard your phone number.
Speaker 2 (29:31):
Sir, Yes, sir two four zero two zero.
Speaker 3 (29:33):
Two two, Thank you, sir, mister edge six seven three
six seven zero zero.
Speaker 1 (29:38):
Beautiful, Thank you. Boys. All right, we've been talking about
the post fed real estate playbook. Of course, we're gonna
give you all the details of the FED interest rate
decision tomorrow along with the press conference on the show
at three o'clock, so I don't miss that. But in
the meantime, we're trying to get you ready from a
real estate perspective. Right, we covered some really really good
points on the real estate post realest post rate real
estate Playbook. There we go, mortgage relief, we can expect
(30:00):
finance rush, increase, demand, price pressure, investor advantage, seller's edge,
and the risk of overheating. Now, let's kind of break
this down, guys, as far as the buyer's checklist post
a fed buyer's checklist. I let's start with you. It's
right there. Let's get pre approved now.
Speaker 4 (30:15):
Yeah, it's so easy. Now you just go online, you know, John,
most loan officers or companies have you know, apply now
tabs that just take ten minutes to complete. It gives
you the ability. The next one is get the numbers.
Run the numbers right, You're going to need to know
what you know? Do I go back into a thirty?
Do I look at a fifteen?
Speaker 2 (30:34):
What what do I do?
Speaker 3 (30:35):
You know?
Speaker 4 (30:36):
And a lot of these people that got into the
temporary buydowns, this is gonna be the perfect opportunity.
Speaker 2 (30:41):
Or an arm.
Speaker 4 (30:41):
This is why arms. You know we talked about the
rates on arms being elevated. Well, here's the reason why
they're gonna get paid off.
Speaker 1 (30:48):
So you know, you want to give out your website.
Do you want to give out your website for them
to run their numbers.
Speaker 4 (30:53):
It's just Highlands Mortgage Highlands Residential Highlands Mortgage dot com.
Speaker 2 (30:57):
Yeah, and you'll you'll find a white mallard.
Speaker 1 (31:00):
Yeah. Perfect. So okay, So we want to get approved now,
no doubt about that. We want to run the numbers, which, folks,
I'm going to tell you from anutsider looking in Dwight,
it was very humble saying, you know, just go online
and don't don't mess with that. Call Dwight and let
him run the numbers because you don't want to get
your hopes up and go oh but you forgot to
put something in. This is why the man's a professionals
been doing this for thirty five years. Let him run
(31:21):
the numbers and get the pre approval and just be
done with Then you can have fun and call Corey
next and go shopping. Corey. We got to act quickly
if we're if we're a buyer right now, we got
to act quickly if these rates start coming down.
Speaker 3 (31:33):
If they start coming down, and especially if you've been
looking for a while and you have a good agent
that says, hey, I've talked to the listing agent. There
might be multiple offers. Yes, put your best foot forward,
do your best offer. Don't the negotiating. It just doesn't
work that way. It's if the price is fair, give
give them the money. I mean, that's just what it
boils down to.
Speaker 1 (31:50):
Love it. Love that, especially for those of you that
have been on the real estate market a long time, right,
our old days is well, you negotiate till you you're
making making the seller bleed. Doesn't work that way anymore
at all. And Dwight back to you. You know what,
we're excited. Rates coming down finally we were here all
these years we've been with these higher rates. But don't
overstretch yourself.
Speaker 4 (32:09):
No, no, John, you're you're right. I mean, that's why
you need a true professional. Don't don't take more than
you can chew, because it's too easy to get yourself
back into a problem where you you know, and you know,
just know the facts. Get more information is very very
helpful right now, you know, so absolutely it'll be it'll
be a busy time if we get you know, if
(32:29):
we get multiple decreases, it can be a busy time.
Speaker 1 (32:32):
So you got it, You got it. Okay, let's go
into the post fed seller's checklist. Corey. First point you
brought up, reevaluate the price inside of things.
Speaker 3 (32:41):
If you have a house that's been on the market
longer than I don't know, pick a number thirty days,
your price too high, I mean, and that's just the
bottom line. There's you can switch agents, you can do
one hundred open houses. You can put flyers everywhere. You want.
Your price too high, so reevaluate the pricing. That's probably
the problem. Can't ready for it. If we do see
this big surgeon demand, then you can take you know,
(33:04):
the correct price and maybe add a little bit to
it and see what happens. But if you're price right
and you get a big demand, then you will get
the multiple offers that'll push it up. But if your
price too high, you're just going to miss the whole
the whole thing's.
Speaker 1 (33:17):
Right right, exactly, all right, Dwight, Let's go to to
your next point highlight a financing show case.
Speaker 4 (33:23):
Oh yeah, showcase where rates are going to be, where
they're at, you know what the savings will be. People
are just all about the savings, all about the payment, right,
So this will be the time that people really really
need to just dive into what apple for apple? Right?
Don't let somebody not include taxes and insurance and things
like that.
Speaker 2 (33:41):
You know, this is make sure that you're getting an
apple for apple. But you should see.
Speaker 4 (33:46):
Hundreds of dollars coming off if depending where you're at.
Speaker 1 (33:49):
Sokay, you know, all right? Real quick, guys, Coreyt prepare
for the demand for your seller.
Speaker 3 (33:54):
Yeah, just have the house fixed up, ready to go.
If you can offer it as turnkey, meaning there's not
a bunch of stuff to do. The buyers prefer that
over a bunch of repairs, okay, after they own it perfect.
Speaker 1 (34:04):
And finally, Dwight, consider the timing.
Speaker 4 (34:07):
Yeah, I mean this is going to give you lots
of leverage. You've got You're going to have multiple decisions
to make more cash out, less cash out.
Speaker 2 (34:14):
Do it, just do Yeah, it's going.
Speaker 4 (34:16):
To give you a lot of leverage, a lot of leverage,
ability to buy more, buy more house.
Speaker 1 (34:20):
You got it all righty boys, excellent job as always.
We will do it again tomorrow and John Sanchez show
happy post fed meeting tomorrow. God buzz, have a great afternoon. DWAIGHTE.
Millard n MLSID number two four one two five nine
a license mortgage Loan Officer with Highlands Residential Mortgage Limited
and Equal Housing Lender and MLSID number one three four
eight seven one. The information shared on this live broadcast
(34:42):
is for general information purposes only and does not constitute
financial or mortgage advice. Listeners should consult directly with a
license mortgage professional for guidance tailored to their specific situation.
All loans are subject to credit approval and program guidelines.
Not all applicants will qualify. Loan terms and availability may
vary by state and are subject to change without notice.
(35:03):
Highlands Residential Mortgage Limited is licensed in multiple states. For
a full list of state licenses and disclosures, please visit
https slash slash www dot Highlandsmortgage dot com backslash licenses backslash.
The views expressed during this program are their own and
do not necessarily reflect those of Highlands Residential Mortgage Limited.
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