September 18, 2025 • 35 mins
In this episode of The Jon Sanchez Show, we review August’s Northern Nevada real estate snapshot and outline what it could mean for buyers, sellers, and long-term investors in Reno, NV, Sparks, NV and surrounding areas within Washoe County, Nevada.
We examine the new median home price, days on market, inventory levels, and notable shifts compared to recent months. We also discuss why mortgage rates jumped nearly ¼% over the last two days and what factors—such as inflation expectations, bond-market moves, and lender pricing—may be contributing to the change.
👉 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.
We examine the new median home price, days on market, inventory levels, and notable shifts compared to recent months. We also discuss why mortgage rates jumped nearly ¼% over the last two days and what factors—such as inflation expectations, bond-market moves, and lender pricing—may be contributing to the change.
👉 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.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:07):
Good Thursday afternoon to you. Welcome to the John Sanchez
Show on News Talk seven eighty KHIT. It's a pleasure
to be with you and absolute pleasure to be with
my co host around the horn, we shall go the
white Mylord Highland's mortgage.
Speaker 2 (00:17):
How are you, my friend?
Speaker 3 (00:18):
I'm doing good, John, How are you?
Speaker 2 (00:20):
Very good? Very good? Corey he Jed's Reality big C.
I like it. You're wearing one of my sweatshirts.
Speaker 3 (00:25):
I like that one you Yeah, I had when we
first started this, I said I have to comb my
hair and get dressed up every day, and you said,
I wear hoodies. So I am combing my hair, but
I am were good good.
Speaker 2 (00:36):
I'm glad you heard that. Absolutely wear whatever you want.
Speaker 1 (00:43):
Don't let me see you at our yea John, And
speaking of scene, I want to bring on our marketing
director Bailey Sanchez.
Speaker 2 (00:52):
Bailey, Uh, just real quickly.
Speaker 1 (00:54):
I want you to come on and give everybody a
brief overview one more time about speaking about how they
can see Yeah.
Speaker 4 (01:01):
Head on over to our YouTube channel, The John Sanchez Show.
You can also head over to Sancho's Gaunt Capital Management
on all social platforms if you want to get some
updates on events, webinars, things of that sort that we're
going to start implementing again for the brokerage. But YouTube
is the main spot to come watch our full episode.
If you like watching the video portion of a podcast
as well, you can do that there. And we are
(01:23):
slowly but surely getting our social media is up to
date as well for The John Sanchez Show to get
fun little facts on their short clips all the things.
But yeah, you can check it out The John Sanchez Show, YouTube, Instagram, Facebook,
and Sanchez Gaunt Capital Management for the same channels.
Speaker 2 (01:39):
Beautiful Bailly, why have you on? Guys? I want to
share this with you. Bailey knows the facts better than
I do.
Speaker 1 (01:46):
So, you know, each and every Monday, I have my brother,
doctor Dennis Sanchez, the AI Doctor on we've've been doing
you know, these AI segments on Mondays, and we wanted
to contribute to helping people that are feeling so shared
of AI and so much so so on and so
forth as far as losing their job or you know
what is this crazy thing called AI. So Dennis has
(02:09):
put together a course and we offered it out to
our listeners on Monday and Bailey the response was overwhelming
of people that want to learn. It's a video you
described the video series. It's pretty amazing.
Speaker 2 (02:22):
Yeah.
Speaker 4 (02:22):
Yeah, it's a video series, just short clips, about three
minutes for each video, but it just walks you through
the features of chatchubt and really the basics of how
to use it and manage it. And then in the
coming weeks, I think Dennis is also put together a
few other pieces of content just going a little bit
deeper into chat gibt, how to utilize it within your
business personally, even budgeting. With chatchipt, the options are endless
(02:46):
of what you can do, so I think everyone needed
a starting point so you can still reach out. I
can send that over to you, guys. If someone missed out,
email me at Bailey b A I l e Y
at Sanchez Gaunt g a un t dot and I'd
be happy to pass along that info because it's super useful.
If you have not gotten your fingers into the whole
chat you bet world yet.
Speaker 1 (03:07):
Yeah, excellent, excellent, excellent, Yeah, yeah, guys. The response was incredible.
I was so pleased that so many people have an
appetite to to, you know, to learn it.
Speaker 2 (03:15):
Corey are you are you?
Speaker 1 (03:17):
You're I would say, are you still less tech savvy?
Uh than Dwight and I It's always been the way over.
But where are you now?
Speaker 3 (03:26):
Those are fighting words, John, I mean.
Speaker 2 (03:29):
Talk to the guy that doesn't have a website of me.
Speaker 3 (03:32):
Well, that has nothing to do with technology. I mean,
that's just being a hermit, and there's nothing wrong with that.
But I do. I mean, I'm sure chet GBT has changed.
The last time I did, he started to go to
the thing and get to you, kind of like when
you guys talk about uploading pictures and all this other stuff.
I hadn't gotten that far yet.
Speaker 2 (03:51):
I was just curious.
Speaker 1 (03:52):
I was just curious, how I know when you know,
when we have Aaron on, we talked to him about
how he uses technology in the world of real estate
and things, and we always joke about you.
Speaker 2 (03:59):
So I thought, I give a chance to.
Speaker 3 (04:00):
Defin well and unlessen I'm always way behind the times,
but I see other people in my industry using it
because when we do a listing, obviously at the botom,
you got the little paragraph blurb and you got to
come up with it, and you can it just it
looks fake to me. You can tell like beautiful Reno
Nevada and the foothills out this year, Like come on,
I mean, these people aren't even taking the time like
(04:21):
Dwight always brags a body still does his sheets by hand,
like there's something, there's something to doing it and understanding
it in absolutely. I don't know if you saw that
case recently that was here in Reno when it was
a big case. But these attorneys filed their whole brief
written by chat GBT and all the cases were bunk.
I mean it was a huge Just so it's just
(04:43):
like the Internet right like it's of course it's going
to change things, but some of it right now just
fuels well yeah, and you want to use your brain,
right like, I mean, we're going backwards a little bit
every time I think.
Speaker 5 (04:57):
Well, you know, John, we were talking about it today.
You know, you can take your resume. I mean, these
kids getting out of college, you can put in a
jet Chat GBT, have it go through it. Sure, put
in there what you are looking for and it'll redo
your It makes you look like, it makes you look
like you were a senator or something. And you know,
(05:18):
so they're gonna call you and and you're gonna walk
in a way.
Speaker 2 (05:21):
That's not I didn't get like that NBA from Harvard.
Speaker 1 (05:23):
Nobody's yeah those but that that that AI on the
backside Dwight is also the one that is screening those.
Speaker 2 (05:32):
Yeah, true, this one before.
Speaker 3 (05:34):
So yeah, it's.
Speaker 2 (05:36):
A Cory's point. There's a fine line there.
Speaker 3 (05:38):
I have a friend who that he's in HR and
that's what they use. And he's like, yeah, there's there's
little hidden words and hidden things that that even if
you write it out and it's perfect, that doesn't pick
up on. I don't know all the technology, but the
computer won't pick up on what you're saying. But the
chat g BT one will pick up on and knows
what's right. But he goes. These people come in. They're
(06:01):
not even qualified. I mean, they have no idea what
their resume says.
Speaker 2 (06:05):
I don't know, Bailey.
Speaker 4 (06:09):
Yeah, you always need a human behind it as well
as yes.
Speaker 1 (06:13):
Valid facts, right, I want to lie on a rithme
and not a good start to your career. Perfect, All right, Bailey, Well,
thank you so much for bringing everybody up to date
on that. All right, let me tell you about bringing
you up to date. What we got lined up for
you this afternoon. So one of my favorite shows we
get to do each and every month thanks to Corey
and Dwight, we get to review our local real estate data.
Speaker 2 (06:31):
This of course will be August data.
Speaker 1 (06:33):
So we're gonna go through your medium price, our inventory level,
how long is taken to sell a home, all of
the important facts that should help you make your decision
whether to buy, sell or so on and so forth.
Speaker 2 (06:43):
So we're gonna go through that first.
Speaker 1 (06:44):
But then we're gonna get into since obviously the three
of us were not together yesterday, we're gonna go through
yesterday's FED interest rate decision.
Speaker 2 (06:52):
And folks, here's something that you know. Kudos to Dwight.
Speaker 1 (06:56):
He warned us that this could happen, and that is
we got a quarter percent in a straight cut yesterday.
And Dwight, what has happened with with the thirty year
mortgage rates in the last forty eight hours?
Speaker 3 (07:07):
Yeah, it's just straight up right.
Speaker 5 (07:09):
And and John, how do you explain that to somebody? Yeah,
that's the that's the challenge. I mean you you've lost
what twenty five basis points if not more, just just
in the rate.
Speaker 2 (07:19):
This is the rate.
Speaker 5 (07:20):
Yeah, so I mean the reverse effect, right, I mean
everybody thought and there's a lot of people John that
waited to.
Speaker 2 (07:27):
Lock throw alone.
Speaker 5 (07:28):
Oh yeah, you know so that and he was somewhat friendly.
I thought, you know, you know about encouraging maybe some
more or at least another cut this year.
Speaker 2 (07:37):
Right, boy, I don't know.
Speaker 3 (07:38):
I don't know why the traders didn't like it. They
don't like something.
Speaker 2 (07:41):
Yeah, well I've got some.
Speaker 1 (07:42):
I got some reasons for you that that we'll share
when we get to that. But yeah, I want to
I'm want to squeeze that in because that's obviously very
very important. Like you said, people are going, well wait
a minute, now, again, we don't blame us. We've been
warning you that this could happen or this could have happened.
Speaker 5 (07:56):
Let me give you a real live one. I locked
along last week and I brought up the rate. It's
a point and a quarter worse and cost than when
I locked it. Amazing, And he because he thought he
was going to get better rate, and I said, no,
what you have would cost you a point in a
quarter today.
Speaker 3 (08:15):
Had I not locked it.
Speaker 2 (08:16):
Wow, there you go.
Speaker 5 (08:17):
And I didn't, you know, I mean it just I
had to do it because of the time we have
getting closed. So it wasn't, but yeah, he was hoping
to just be able to renegotiate for a lower rate.
Speaker 3 (08:26):
That can happen.
Speaker 1 (08:27):
Yeah, exactly, crazy times to find ourselves, no doubt about it,
no doubt. So we had a lot of great things
to talk to you about. Let's get down to today's
stock market activity again. The day after the Fed interest
straight cut.
Speaker 2 (08:38):
What did we see?
Speaker 1 (08:39):
Pretty good games across the board one hundred and twenty
four point game on the deal about point two to
seven percent, and as that rose two nine point ninety
four percent, SMP gaming thirty two points point four to
eight percent, and again record setting day for the three
major averages. The Rustle two thousand was was also a
very very strong performer. It is now on a year
to date basis up to ten point seven percent, quickly
(09:02):
catching on why, As we said on the show yesterday,
the small caps, those are your young companies, the growing
They need to borrow a lot of money, get a
lot of capital flowing, They go out, they borrow. Obviously,
a lower interest rate environment is very favorable to them,
sometimes even more so than the big blue chips. So therefore,
please take a look at your allocation and your portfolio
and make sure you've got some allocation based upon your
(09:23):
risk and your goals into the small cap area because
this should be an area that continues to roll very
nicely as we get into this hopefully declining interest rate environment.
So two and a half percent gain, by the way,
was the move on the upside of the Russell two
thousand again our best the other three NAZAC up point
nine to four. So you see that dramatic overperformance of
(09:45):
the Russell two and a half percent versus point ninety four. Now,
speaking of rates, where do we sit right now, because
this is the big question. One of the big takeaways
yesterday is I think everybody's takeaway, right Dwight and Corey,
I'm sure you guys agree.
Speaker 2 (09:57):
Everyone's takeaway was we got more rate cuts coming.
Speaker 1 (10:00):
Obviously the size we don't know, but the frequency, you know,
the street at this point is still saying as we
said a couple of days ago, October and December. Right
now we want to bring up to date on the probability.
According to the CEMME FED Watch tool, probability of a
quarter percent cut at October is ninety one point nine percent.
Speaker 2 (10:19):
Ninety one point nine percent, just a couple days ago.
Speaker 1 (10:21):
Matter of fact, right before yesterday's meeting, the probability was
only seventy eight point two percent, another quarter percent cut
in December. Probability today eighty two point three percent. Right
before the meeting yesterday seventy two point eight percent. So guys,
those are pretty good, solid probability numbers, which again are
usually fairly accurate. And so, uh dight you like seeing that?
(10:44):
Or maybe you don't.
Speaker 2 (10:45):
I don't want.
Speaker 5 (10:46):
I don't know what I'm seeing anymore, right, A big
headlight coming in at me. But John, I mean, you know,
on Tuesday we were six point one three. Yeah, today
we're six point three seven.
Speaker 1 (10:58):
That's right up fifteen pass point yes today, just just today.
Speaker 5 (11:03):
I mean, you know, and you know what the headlines are.
De ja vu September of twenty four, you know. But yeah,
because you remember there was a probably remember they did
the half point, then they did the other quarter, yes,
pretty soon after that.
Speaker 2 (11:16):
So yeah, I.
Speaker 3 (11:17):
Don't know they're buying this.
Speaker 2 (11:18):
I don't imagine what happened to have got the quarter
or the half a percent that someone.
Speaker 3 (11:22):
Well it had been back to eight again.
Speaker 2 (11:24):
Yeah, exactly, I'm.
Speaker 3 (11:25):
Going to be selling suit. This is this is crazy.
Speaker 2 (11:28):
And I told you always have a job. I appreciate that.
Speaker 5 (11:32):
I'm going to be the last Mohican stand that's right,
that's less to stay here.
Speaker 3 (11:36):
But yeah, John, it's hard. It's hard to believe, but.
Speaker 1 (11:39):
Yeah, it is, it really is. Well, we'll explain that
when we come back. Why these mortgagers rose again when
the Fed give us a cut. And then I want
to just quickly the big story of the day was
Navidia and then tell I want to tell you what's
going on there. Let us turn it over to Kristin Snow,
the wonderful Christia Snow in the right now traffic center. Hello, Christen,
(12:00):
we got to take care of you on that one. Okay, okay,
I know your address. I do indeed coming your way.
Welcome back to the John Sanchez Show. On his Talk
(12:22):
seven eighty k waits with Coryage Vigrility, Dwight Mallard of
Highlands Mortgage once again a one to twenty four gain
on the dial, the nastec up two oh ninety s
andp gain thirty two. Let's hit the commodity side, give
up a little bit on oil today seventy nine cent
decline finished at about sixty three twenty seven a barrel
gold also pulled back today thirty nine dollars and sixty
cent lost three thousand and six seventy eight forty and
(12:43):
up three basis points, mister mallar ten year treasury at
a yield close of four point one percent once again,
as you said, six point three seven percent on the
thirty year mortgage up fifteen basis points today, and that's
on top of what was yesterday twelve basis points a
five hour Yeah, okay, yeah, so we we hit zero
point twenty seven or twenty seven basis points increase since
(13:04):
the Fed interest rate decision yesterday.
Speaker 5 (13:05):
Well, and John, you remember with the governments, the FHA
and VAS were well into below the six They were
in the five to nine five US now that they're
six point oh five and six point oh seven. So
that's not been a lot good couple of days, right,
I mean, it just started right when he started talking.
Speaker 3 (13:21):
He started to see it. I'm like, what in the world?
Speaker 1 (13:23):
Yep, you know, So let's answer the question why why
are we seeing these mortgage rates go up?
Speaker 2 (13:29):
Dwight. So so essentially, so if you're.
Speaker 1 (13:33):
A bond trader and you just learned that the FED
just cut interest rates a quarter percent, you're going to
go okay.
Speaker 2 (13:40):
Now, again, what people.
Speaker 1 (13:42):
Obviously need to remember, and this is probably the most
important thing that the three of us had discussed. The market,
whether it's the stock market or the bond market, is
a forward looking indicator. It is pricing out six to
nine months what it thinks the market is going to do,
or better yet, what it thinks interest rates are going
to do. So the reason we have seen the rates
(14:04):
come down prior to the FED meeting is again it
was already priced in. Now the market's going, well, let's
see if the economy is going to improve, right, We've
got an interra straight cut cycle that we're just beginning.
We've got an AI driven economy. We've got all these
quote pauses, right, they line them up, They're going, why
in the world do we want to own a bond?
Speaker 2 (14:25):
Right, So let's sell our bonds folks. And what does
that do?
Speaker 1 (14:27):
Of course, drives those yields up. It really is that simple.
You know, from a fundamental standpoint, you AGREEQ.
Speaker 3 (14:34):
Do, I I do, and I think it's not to
bring back bad memories. But this this cut last year,
just looking at this chart, we were hovering water around
three six, three seven, yep, and it started going up
and it didn't stop till it almost hip five yeah,
four four nine the tenure. Yeah. So not saying it's
going to do that again, but it's right. It's certainly
(14:56):
the pattern.
Speaker 1 (14:57):
Right, And that's to your point, de Way. You know what,
how do you tell somebody? And that's the hard part.
You know, My hat's off to you and other mortgage
professionals and even you know, folks like Corey on the
sales side of things, is the average person just does
not know that, right.
Speaker 2 (15:10):
You read the headlines and it goes FED.
Speaker 1 (15:12):
Cut a quarter percent, mortgage is going to go down
a quarter percent, and you know they don't listen, you know,
I mean, we need we need a few million listeners
to this show to get our message out because we
have emphasized this for weeks and weeks leading up to
this FED meeting that this was a good probability that
it was going to happen, and indeed it has.
Speaker 2 (15:28):
And I love you. You know the point that Corey.
Speaker 1 (15:30):
Just made this may be the beginning of an increasing cycle, right, right,
I mean this we've done it before, We've done it before.
Because once again people start looking. You have record setting
days over and over again in the equity markets, and
people go, why the hell do I want to sit
and you know in a bond, you know, yielding four
percent for ten years, when you know I can find
the best or you know, a hot AI stock that
(15:52):
you know may do that in half a day or
an hour or something. I mean, that's that's the logic
that's out there.
Speaker 5 (15:58):
Well, and you're, Johnny, you're talking about again the investment community.
You've got countries dropping bonds now dumping bonds. So I
mean it's it's it's you know, it's just a struggle
out there to attract on the mortgage backed security. And again,
john I guess if I'm sitting there and I want
a little bit of maybe growth, but safety, I'm not
(16:19):
sure I'm gonna go to the mortgage backed security market
versus the treasury. I mean, there's your two sandboxes, right,
So if you get you're gonna look at the bonds,
you might go short term over here.
Speaker 3 (16:30):
There's a lot to it.
Speaker 5 (16:31):
But like you said, what I what I thought and
I was telling people, is I wonder if they already
priced the end the probability of subsequent decreases, you know, I.
Speaker 3 (16:41):
Mean, we got we dropped so fast.
Speaker 5 (16:44):
So yeah, so so all of a sudden, it's like, okay.
Speaker 3 (16:46):
Well that was kind of wow.
Speaker 5 (16:48):
There was no wow moment to that. So okay, let's
settle back in and hey, let's get rid of these
things and go right back into that's it, that's the
video or whatever you're gonna buy.
Speaker 1 (16:57):
Right, yeah, well you remember, you know, we talk about
bonds in the relation to the mortgage side of things, right,
But let's remember why do you buy bonds? Right, Why
do we as brokers, why do we put bonds or
bond related type of products in a client's portfolio.
Speaker 2 (17:11):
It's to hedge them against stock market declients. Right.
Speaker 1 (17:15):
Historically, of course, when I was young in this business,
it was really simple. Stock market got lousy, you move
your clients into bonds, vice versa, and you would implement
international allocations. Now we're one big happy world, right, So
now we can't do that on the equity market side
if things start getting lous, and we can't go international
because they're going to most likely get hit, just like
the US market is or vice versa. But now, of course,
(17:35):
as we saw it, happen after the financial crisis. We
can see it where bonds go down, stock market domestically
goes down, stock market internationally goes down.
Speaker 2 (17:44):
So where do I hide? You got cash, right.
Speaker 1 (17:46):
That's the only place that you cause I have a
guarantee that you're not going to lose any money. So bonds, Remember, folks,
from an investment standpoint, you buy a bond, you're lending money.
Let's just say it's a government bond. You're lending the
money to the government. Let's say for ten years. You
don't have to hold it that long, but let's say
it's a ten year government treasure. It's like, okay, once again,
I are yield today four point one percent. So that
(18:08):
means the government's going to pay you four point one
percent every year for the next ten years. At the
end of ten years, you get your get back one
thousand dollars. You may have paid a little bit more
than a thousand or a little bit less, but you're
essentially going to get back one thousand dollars and you've
made four point one percent. But again, when the stock
market starts taking off, people go, well, wait a minute here,
I've got inflation.
Speaker 2 (18:28):
You know, close to three percent.
Speaker 1 (18:31):
So if I'm making four point one great, I'm only
making you know, one hundred and ten basis points on
my money.
Speaker 2 (18:37):
Is it really worth it? Right? And the answer is geez.
Speaker 1 (18:40):
I hear about all these AI stocks, and I hear
all these companies doing great and on and on, So
I'm not going to do it.
Speaker 2 (18:45):
So they lower that allocation.
Speaker 1 (18:47):
The only ones to your point, Corey, I think you
said about the institution or Dwight, you said it on
the institutions. They can't do that, right. They have mandates, right,
an institution, a pension plan, a sovereign wealth fund, that
type of thing. They have to keep a certain percentage
at all times in stocks, in bonds and alternatives and
so on and so forth. So no matter what they
think they want to do, they can't. That is their rule.
(19:08):
That's their investment policy statement. If you're a sixty forty shop,
you got to stay sixty four or sixty percent equities
forty percent bonds no matter what goes on. And that's
you know, that's that's where one of the challenges. But
everybody else, you know, bonds are trading vehicle, and you
get something like a market moving thing like the FED
interest rate decision yesterday, and the traders go, you know what,
for all those reasons I mentioned, I don't want to
(19:29):
be in bonds, they sell them, they start driving yields up.
Speaker 2 (19:32):
It's like, and you take.
Speaker 5 (19:34):
The administration right now when they start, you know, talk
about their successes, the investments in this it just is
counterproductive to the bond market.
Speaker 2 (19:42):
Yeah, yeah, it is. Yeah, it is.
Speaker 1 (19:44):
It's good word counterproductive. Last thing, guys, I want to
squeeze in real quick. Very interesting. Again, as many of
you are well aware, a few maybe a month or so,
I don't remember the exact time period, the US government
took a stake in Intel. We all know that Intel,
of course was struggling for many, many years through the
Chipsack two point zero. The government, yeah, we don't know
(20:04):
if it was a grand a lend, whatever it is.
But the bottom line Trump administration came out about a
month ago it said, hey, you know what those billions
of dollars Intel that we quote LINT gave whatever they
want to call it, you owe us some ownership. So
the government US government took ownership in Intel to the
tune of ten percent. They are the largest shareholder. They
don't have voting rights like a Commons shareholder does. But
(20:26):
the government US government owns ten percent of Intel. That
was about an eight point nine billion dollar acquisition or
lend or. Again, however, they did it behind the scenes.
So let's just say the government owns ten percent worth
roughly nine billion dollars.
Speaker 2 (20:42):
Well, we wake up today.
Speaker 1 (20:44):
Literally it happened overnight and na Video said, Hey, guess
what we like that company. Also, we're going to put
in five billion dollars. We're going to buy five billion
dollars of Intel stock because we're going to do a
lot of things. We're going to take an equity stake.
We're going to have a multi year collaboration to co
develop some custom data centers with Intel, some PC products,
I mean, all kinds of things. So kind of bizarre
(21:05):
that a competitors coming in and you know, making a
capital contribution via the equity market into their company. But
they did it so five billion dollars, which is nothing
again to in Navidia. They did that. Street loved it.
Navidia today shot up five dollars and ninety five cents
three point four nine percent to win seventy six twenty four.
Intel just a stud twenty eight point seven nine percent
(21:26):
increase seven dollars and seventeen cents to thirty two oh seven.
So now you got the US government and you have
Navidia as major shareholders of Intel.
Speaker 2 (21:34):
That was a big story of the day.
Speaker 1 (21:35):
Speaking of big stories, how about our local real estate
data for the month of August.
Speaker 2 (21:39):
Corey and might have all that information ready.
Speaker 1 (21:40):
We'll tackle that when we come back, but first it's
turned it over to Jack Saban.
Speaker 2 (21:44):
He's got news trafficking with her.
Speaker 1 (21:45):
Heyja, welcome back to the John Sanchez Show on Newstalk
seven eighty KO. Wait to a coryas de veg related
to a white malard of Highlands Mortgage once agin and
we finished with a game of one twenty four on
the DAW, up two nine on the Nasdaq, and a
thirty two point increase on the S and P five
(22:05):
hundred record sitting day for those major averages. But it's
now time that we switch things over to the world
of real estate. How's our local real estate market in
northern Nevada doing well? The boys have the data, so guys,
let's get started with this. And uh really figured this out.
So mister Ridge, I'm gonna start with you as always,
let's talk about our media and sales price. Five hundred
(22:26):
and eighty five thousand dollars bring us up to date.
Speaker 3 (22:29):
On this one. So not down two and a half
percent from July, down four percent year over year from August. Again,
you know, I kind of sound like a broken record.
It's it's down, not a huge amount. This chart seems
to be kind of up down, up down. I sent
you guys both under the audience. Well, I guess the
audience could see if I stuck up there, but kind
(22:49):
of a long term chart. I don't think seeing that.
But we're just kind of bouncing. It's it's it's not
the worst thing anymore. We're kind of bouncing along the top.
If you will keep hitting these ceilings, come down a
little bit, try to hit it again. I am starting
to see some of the seasonalities slow down start to
kind of play in. So I got to remember, this
is August numbers. Now we're in September, you know, October, November.
(23:12):
It's not unusual to see these things, you know, start
their downward trend right now. So nothing alarming, but it
is down now.
Speaker 1 (23:20):
Some of the data, Corey, that I was looking at
outside the scope of this report indicating that this is
really the first meaningful year over year decline that we've
seen in quite some time, with again this down four
point one percent year over year.
Speaker 2 (23:34):
Do you agree with that it's.
Speaker 3 (23:36):
The first time we've seen it in three or four
years for sure, because remember we've had Dwight and I've
been talking about it. The last few springs have been
really hot and it kind of cools off a little
bit in the summertime. Then we get to we didn't
have a good spring this year, and Dwight and I
were joking before we jumped on the air that this
is August report, but a lot has happened just in
the first two weeks of September, including what happened yesterday.
(23:58):
So we'll see if these numbers hold true. But as
we were talking about the beginning of the show, if
rates do start moving up significantly, then yeah, it could
be it could have a negative effect. We were hoping
it's gonna have a positive effect. It could be different
depending on what the bond market does.
Speaker 1 (24:14):
Right exactly. Yeah, because we were it seems like it
wasn't that long ago. I have to go back to
the data, but we were around six sixteen or so
medium this few months back.
Speaker 3 (24:23):
Right, yeah, I think. I mean, geez, we're topping out
at six twenty five. We hit that back in April May. Again,
I mean we've hit six. We've hit the six twenty
five mark at least five times in the last two years, okay,
and always kind of bounced straight down.
Speaker 2 (24:41):
Yeah, that's kind of been our resistance level. Yeah, pretty good. Okay,
So not good side there or good data there.
Speaker 1 (24:48):
Let's go on to the closed sales three hundred and
eighty six closed sales take it away.
Speaker 3 (24:53):
So I know everybody can't see the full report, and
we'll get into all these but there's what looks like
maybe eight categories here. I have little arrows that point
up or down, depending on if it's upper down. It's
the first time in a long time I've seen they're
all red, except for the one that you want red,
which is month's supply. That one's great. So every single
(25:15):
arrow is pointing in the wrong direction. But close sales
may month over month in year over years, meaning month
over month, you're over Yeah, So close sales three eighty
six down five point six percent from July twenty five,
up one point three percent year over year could be seasonality,
could be fewer houses on the market, which we'll get
down to. There could be buyers. There's still a feel
(25:38):
in the market. I still have the calls where if
you have a listing, people come through and look at it,
you call to get feedback and they're looking at five
other houses. They haven't made up their mind. They're gonna
take some time. When you're out with buyers, they now
have time to say, nah, I love the house, but
I don't like the way the backyard is facing, so
let's keep looking. Whereas before it's like you take what's
(25:59):
on the market and you buy, otherwise you get nothing
that there's still that out there where they have some choices, you.
Speaker 5 (26:05):
Know, John, will you get those really well qualified buyers
that can buy six seven hundred thousand. To Corey's point,
they're going to take longer time because they feel like
they're in the driver's seat.
Speaker 3 (26:15):
I'll go, look, it's amazing.
Speaker 1 (26:16):
That's what I was gonna ask. That's what I was
gonna ask both of you. What are you hearing from
your clients. Do they feel meaning on the buy side,
Do they feel a little bit more probablys a term arrogant,
a little more Cocky a little more confident now versus
say a year ago, Corey into it.
Speaker 3 (26:30):
I would say they don't feel I don't know the
arrogance right where, but they do feel like they have
more options. So there's not they're not stressed about timing. Okay,
So now the interesting thing will be they've been in
a downward their rates have been going down. So now
if they feel like, hey, I have more time, but
the rates are going to start pressing their affordability, do
they make a decision to jump on whatever happens to
be there, or do they say forget it, I'll come
(26:52):
back later.
Speaker 5 (26:54):
Well, John, and add to that, add to that, if
you go into like a subdivision, or if you get
a resale and they're willing to drop at thirty forty
grand right there, Yeah, you're.
Speaker 3 (27:04):
Just gonna keep gold fishing. You're just gonna wait a minute,
if you know.
Speaker 5 (27:08):
So, that's not helping narrow it down either, that's just
expanding a wider net out there.
Speaker 2 (27:14):
Okay, fre good point.
Speaker 1 (27:16):
All right, So once again, our close sales for August
three hundred and eighty six, down five point six percent
month over month, up one point three percent year over
year median days to contract twenty nine, down five percent
month over month, up fourteen percent. There's your point, corey.
Speaker 2 (27:30):
Year over year. Take it away.
Speaker 3 (27:32):
Yeah, so this is where you want the red arrow
because it's down. So the median days to contract from
the day we list it to the day goes pending
an MLS, it's counting those days. So on average, it's
taking twenty nine days for a house to be listed
to go into contract. Do you want that as a seller?
You want that number going down. You want that house
to sell faster than it would. So down five percent
(27:54):
month over month not the worst thing. That's for the
trajectory you want on the sellar side. But up fourteen
percent year over year just kind of shows me. It
tells me at least things are kind of still stagnant
a little bit. It's still twenty nine days, which seems
like it was going to be in this market. Yeah,
but it's still I can remember I didn't know anything
about well I still don't know much about real estate,
but when I was a kid, and I just remember
(28:19):
my parents. My parents were selling their house. I mean
they were selling our house, I guess, and I just
for some reason, I always felt like, man, it takes
a long It takes a year or so. It yeah,
I mean it just it's a long, long process. So
I think we've been we've had a little bit too
good of times. Yeah, spoiled.
Speaker 2 (28:36):
You know, that's a good point. I agree with you
one hundred percent. Remember those days too. All right?
Speaker 1 (28:40):
How about you getting for the price that you're listening
to the house at so list price received, you're getting
ninety eight point five percent of that down two tenths
of a percent month over month, down seven tenths of
a percent year over year.
Speaker 2 (28:50):
Not much action their.
Speaker 3 (28:51):
Core, not much action, and you're going off small numbers,
so you've got a couple of red arrows and not
a big deal. Again, this number will always fluctuate between
call it ninety having at one hundred and two, because
it doesn't count the price reductions of what we went
through to get to that numbers.
Speaker 1 (29:06):
Right, right, exactly, Dwight take us away on the price
per score foot medium sold price per score foot three
hundred and twenty one bucks down two point seven percent
month over month, you're over year down just three tenths
over percent. I was shocked on that one. With inflation
and so on, tariffs, et cetera. I thought that number
would be much higher.
Speaker 5 (29:24):
I did too, but that it just showing the stubbornness
of you know, just trying to stay in that range
right there, that three twenty three twenty five range kind
of stuck, which is you know, I agree with you.
I thought that was going to be a higher number.
Make it even more less I mean, less affordable. You
know it's going to be a bigger number. But right
(29:44):
that's encouraging, I think.
Speaker 2 (29:46):
Yeah, yeah, no doubt.
Speaker 1 (29:48):
Okay, Corey, let's go to the next way before we
go to break a new listings. We had four hundred
and forty one new listings in the month of August,
down seventeen point four percent month over month, down twelve
and a half percent year over year. A lot of
people are going, eh, I don't like this market. I'm
not going to list right now.
Speaker 3 (30:04):
Yes, and so as a seller, you want that number
to go down. As a buyer, you want it to
go up to have more options. This could also be
I mentioned it on Tuesday because I've done it with
a couple of clients recently. You get to this time
of the year and you have those frank conversations, say listen.
At that price, we're not going to get it. Let's
try in the spring, because spring is the time, so
it's not surprising to get fewer listings as we get
(30:24):
later in the season, usually for holidays. But some people
just bank on a hot spring market in twenty six
and they'll roll the dice, right.
Speaker 5 (30:33):
Core Is there a report that shows where people.
Speaker 3 (30:35):
Took it off the market? Yes? Yeah, OK, yeah, and
I can pull that and that is the one we
talked about a couple of weeks ago that across the
country canceled listings are I don't think it's an all
time high, but the trajectory was through the roof people
pulling their houses off the market or canceling their contracts.
Speaker 2 (30:55):
I heard the exact same thing on a Niche Basinis.
You got it all right.
Speaker 1 (30:58):
When we come back, let's talk about how many homes
for sale out there are active inventory and then our
month's supply of inventory with Corey and Dwight. Let's wrap
it up with Kristen snow right now Traffic Center. Kristen,
welcome back to the John Sanchez Show on News Talk
seven to eighty. Koh to the Coryans Eventuality, Mister Edge
your phone number saw.
Speaker 3 (31:19):
Six seven three six seven zero zero, mister Billard two
four zero two zero two.
Speaker 2 (31:24):
Two beautiful, Thank you boys, Do you appreciate it? All? Right?
Speaker 1 (31:27):
Once again, we've been covering our market real estate market
data for northern Nevada for the month of August. Once again,
let's recap what we've covered so far and get down
to our final two categories. Our median sales price now
five hundred and eighty five thousand, down two point four
percent month over month. Closing sales down five point six
percent month over month. That's three hundred and eighty six
median days to contract twenty nine down five percent month
(31:50):
over month. Liz, price received ninety eight point five percent
lower by two tenths over percent month over month. Our
meetium sold price per score foot three hundred and twenty
one dollars down two point seven percent month over month.
And now, mister Edge, as you said, four hundred and
forty one listings down seventeen point four percent month over month.
Year over year down twelve and a half. Again, people
(32:12):
are just sitting on the sidelines, as you were saying
before we went to break.
Speaker 3 (32:14):
Correct, Yeah, sitting on the sidelines could be seasonality could
be different things, but not unusual for that number to
start heading down.
Speaker 2 (32:22):
Perfect.
Speaker 1 (32:22):
And I want to remind everybody now that we are
again broadcasting simultaneously onto YouTube. Those of you that want
to see this report again, pick up our YouTube video
that John Sanchez Show, and you can see all of
the data that we're talking about here. All right, guys,
our last two reports Corey active inventories one and ninety
nine units down four point nine percent month over month
(32:44):
and up thirteen point two percent.
Speaker 2 (32:45):
Year over year.
Speaker 1 (32:46):
So that thirteen point two percent I need increase year
over year. I need an explanation on that one.
Speaker 3 (32:52):
That's just more inventory than we had last year. I mean,
that's what That's what has stabilized pricing, maybe brought it
down a little bit. That's what's good. The buyers all
the feel good about being able to look around and
not be so stretched. We've been slowly getting increases in inventory,
you know, pretty much every month this year. The reason
I think it's down month over month is because we
(33:15):
didn't have the new listings this past month to add
into it. But if you remember, I mean twelve hundred
houses as active inventory is a it's not a huge
number for what we've done the last couple of years.
It's a pretty sizable number, and we'll get down to
the next segment, but it equates to three months supply,
which is that's the first time we've crossed three months
supply in a while, so it's interesting.
Speaker 1 (33:36):
Well, let's wrap it up with that, with ninety seconds
remaining three point one month's supply of inventory up seven
tenths of a percent month over month, rising eleven point
eight percent year over year.
Speaker 3 (33:45):
Yeah, and that's the one to watch. That's the one
that to me, if everything else being equal, we know
the interest rates didn't kill the prices. We know nothing
else affected the market. The theory has been the amount
of inventories dictating the prices. So if the inventory starts
rising and that theory is correct, prices should start coming down.
So we'll see over the next call it six months,
(34:07):
if that's true, how much inventory we get on the market,
how the prices react.
Speaker 2 (34:11):
Good?
Speaker 1 (34:12):
Perfect, All right, great job Corey. As always, Dwight, wrap
us up mortgage side of things again, as we said,
up twenty seven basis points in the last forty eight
hours on the thirty year mortgage with your advice everybody.
Speaker 3 (34:21):
Here we go.
Speaker 5 (34:22):
We got to be patient a little bit, but I mean,
if you've got a quick close, you've got to start
looking at locking it and protecting what you've got now.
But John, this report is really buyer friendly. So if
we can just get the rates to help us out here,
I mean this, we're in good shape at least with
the buyer side.
Speaker 1 (34:37):
And always wait, you know again, things get still choppy
over the last couple of days after the FED meeting,
So let's see if things calm down and let's not
hope again.
Speaker 2 (34:45):
So repeat of last time.
Speaker 1 (34:46):
We kept fit quote cuts and mortgage rate skyrocket on
that side of things. All right, fellows, excellent job as always.
We will do it again tomorrow on the John Sanchez Show.
God bless, have a great afternoon.
Speaker 2 (35:01):
DWAIGHTE. Mallard nmlsid number two four one two five nine
a license Mortgage Loan Officer with Highlands Residential Mortgage Limited
and Equal Housing Lender nmlsid number one three four eight
seven one.
Speaker 1 (35:12):
The information shared on this live broadcast is for general
information purposes only and does not constitute financial or mortgage advice.
Speaker 2 (35:19):
Listeners should consult directly with a license mortgage professional for
guidance tailored to their specific situation.
Speaker 1 (35:25):
All loans are subject to credit approval and program guidelines.
Speaker 2 (35:29):
Not all applicants will qualify. Loan terms in availability may
vary by state and are subject to change without notice.
Speaker 1 (35:35):
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.
Speaker 2 (35:49):
The views expressed
Speaker 1 (35:50):
During this program are their own and do not necessarily
reflect those of Highlands Residential Mortgage Limited.
Good Thursday afternoon to you. Welcome to the John Sanchez
Show on News Talk seven eighty KHIT. It's a pleasure
to be with you and absolute pleasure to be with
my co host around the horn, we shall go the
white Mylord Highland's mortgage.
Speaker 2 (00:17):
How are you, my friend?
Speaker 3 (00:18):
I'm doing good, John, How are you?
Speaker 2 (00:20):
Very good? Very good? Corey he Jed's Reality big C.
I like it. You're wearing one of my sweatshirts.
Speaker 3 (00:25):
I like that one you Yeah, I had when we
first started this, I said I have to comb my
hair and get dressed up every day, and you said,
I wear hoodies. So I am combing my hair, but
I am were good good.
Speaker 2 (00:36):
I'm glad you heard that. Absolutely wear whatever you want.
Speaker 1 (00:43):
Don't let me see you at our yea John, And
speaking of scene, I want to bring on our marketing
director Bailey Sanchez.
Speaker 2 (00:52):
Bailey, Uh, just real quickly.
Speaker 1 (00:54):
I want you to come on and give everybody a
brief overview one more time about speaking about how they
can see Yeah.
Speaker 4 (01:01):
Head on over to our YouTube channel, The John Sanchez Show.
You can also head over to Sancho's Gaunt Capital Management
on all social platforms if you want to get some
updates on events, webinars, things of that sort that we're
going to start implementing again for the brokerage. But YouTube
is the main spot to come watch our full episode.
If you like watching the video portion of a podcast
as well, you can do that there. And we are
(01:23):
slowly but surely getting our social media is up to
date as well for The John Sanchez Show to get
fun little facts on their short clips all the things.
But yeah, you can check it out The John Sanchez Show, YouTube, Instagram, Facebook,
and Sanchez Gaunt Capital Management for the same channels.
Speaker 2 (01:39):
Beautiful Bailly, why have you on? Guys? I want to
share this with you. Bailey knows the facts better than
I do.
Speaker 1 (01:46):
So, you know, each and every Monday, I have my brother,
doctor Dennis Sanchez, the AI Doctor on we've've been doing
you know, these AI segments on Mondays, and we wanted
to contribute to helping people that are feeling so shared
of AI and so much so so on and so
forth as far as losing their job or you know
what is this crazy thing called AI. So Dennis has
(02:09):
put together a course and we offered it out to
our listeners on Monday and Bailey the response was overwhelming
of people that want to learn. It's a video you
described the video series. It's pretty amazing.
Speaker 2 (02:22):
Yeah.
Speaker 4 (02:22):
Yeah, it's a video series, just short clips, about three
minutes for each video, but it just walks you through
the features of chatchubt and really the basics of how
to use it and manage it. And then in the
coming weeks, I think Dennis is also put together a
few other pieces of content just going a little bit
deeper into chat gibt, how to utilize it within your
business personally, even budgeting. With chatchipt, the options are endless
(02:46):
of what you can do, so I think everyone needed
a starting point so you can still reach out. I
can send that over to you, guys. If someone missed out,
email me at Bailey b A I l e Y
at Sanchez Gaunt g a un t dot and I'd
be happy to pass along that info because it's super useful.
If you have not gotten your fingers into the whole
chat you bet world yet.
Speaker 1 (03:07):
Yeah, excellent, excellent, excellent, Yeah, yeah, guys. The response was incredible.
I was so pleased that so many people have an
appetite to to, you know, to learn it.
Speaker 2 (03:15):
Corey are you are you?
Speaker 1 (03:17):
You're I would say, are you still less tech savvy?
Uh than Dwight and I It's always been the way over.
But where are you now?
Speaker 3 (03:26):
Those are fighting words, John, I mean.
Speaker 2 (03:29):
Talk to the guy that doesn't have a website of me.
Speaker 3 (03:32):
Well, that has nothing to do with technology. I mean,
that's just being a hermit, and there's nothing wrong with that.
But I do. I mean, I'm sure chet GBT has changed.
The last time I did, he started to go to
the thing and get to you, kind of like when
you guys talk about uploading pictures and all this other stuff.
I hadn't gotten that far yet.
Speaker 2 (03:51):
I was just curious.
Speaker 1 (03:52):
I was just curious, how I know when you know,
when we have Aaron on, we talked to him about
how he uses technology in the world of real estate
and things, and we always joke about you.
Speaker 2 (03:59):
So I thought, I give a chance to.
Speaker 3 (04:00):
Defin well and unlessen I'm always way behind the times,
but I see other people in my industry using it
because when we do a listing, obviously at the botom,
you got the little paragraph blurb and you got to
come up with it, and you can it just it
looks fake to me. You can tell like beautiful Reno
Nevada and the foothills out this year, Like come on,
I mean, these people aren't even taking the time like
(04:21):
Dwight always brags a body still does his sheets by hand,
like there's something, there's something to doing it and understanding
it in absolutely. I don't know if you saw that
case recently that was here in Reno when it was
a big case. But these attorneys filed their whole brief
written by chat GBT and all the cases were bunk.
I mean it was a huge Just so it's just
(04:43):
like the Internet right like it's of course it's going
to change things, but some of it right now just
fuels well yeah, and you want to use your brain,
right like, I mean, we're going backwards a little bit
every time I think.
Speaker 5 (04:57):
Well, you know, John, we were talking about it today.
You know, you can take your resume. I mean, these
kids getting out of college, you can put in a
jet Chat GBT, have it go through it. Sure, put
in there what you are looking for and it'll redo
your It makes you look like, it makes you look
like you were a senator or something. And you know,
(05:18):
so they're gonna call you and and you're gonna walk
in a way.
Speaker 2 (05:21):
That's not I didn't get like that NBA from Harvard.
Speaker 1 (05:23):
Nobody's yeah those but that that that AI on the
backside Dwight is also the one that is screening those.
Speaker 2 (05:32):
Yeah, true, this one before.
Speaker 3 (05:34):
So yeah, it's.
Speaker 2 (05:36):
A Cory's point. There's a fine line there.
Speaker 3 (05:38):
I have a friend who that he's in HR and
that's what they use. And he's like, yeah, there's there's
little hidden words and hidden things that that even if
you write it out and it's perfect, that doesn't pick
up on. I don't know all the technology, but the
computer won't pick up on what you're saying. But the
chat g BT one will pick up on and knows
what's right. But he goes. These people come in. They're
(06:01):
not even qualified. I mean, they have no idea what
their resume says.
Speaker 2 (06:05):
I don't know, Bailey.
Speaker 4 (06:09):
Yeah, you always need a human behind it as well
as yes.
Speaker 1 (06:13):
Valid facts, right, I want to lie on a rithme
and not a good start to your career. Perfect, All right, Bailey, Well,
thank you so much for bringing everybody up to date
on that. All right, let me tell you about bringing
you up to date. What we got lined up for
you this afternoon. So one of my favorite shows we
get to do each and every month thanks to Corey
and Dwight, we get to review our local real estate data.
Speaker 2 (06:31):
This of course will be August data.
Speaker 1 (06:33):
So we're gonna go through your medium price, our inventory level,
how long is taken to sell a home, all of
the important facts that should help you make your decision
whether to buy, sell or so on and so forth.
Speaker 2 (06:43):
So we're gonna go through that first.
Speaker 1 (06:44):
But then we're gonna get into since obviously the three
of us were not together yesterday, we're gonna go through
yesterday's FED interest rate decision.
Speaker 2 (06:52):
And folks, here's something that you know. Kudos to Dwight.
Speaker 1 (06:56):
He warned us that this could happen, and that is
we got a quarter percent in a straight cut yesterday.
And Dwight, what has happened with with the thirty year
mortgage rates in the last forty eight hours?
Speaker 3 (07:07):
Yeah, it's just straight up right.
Speaker 5 (07:09):
And and John, how do you explain that to somebody? Yeah,
that's the that's the challenge. I mean you you've lost
what twenty five basis points if not more, just just
in the rate.
Speaker 2 (07:19):
This is the rate.
Speaker 5 (07:20):
Yeah, so I mean the reverse effect, right, I mean
everybody thought and there's a lot of people John that
waited to.
Speaker 2 (07:27):
Lock throw alone.
Speaker 5 (07:28):
Oh yeah, you know so that and he was somewhat friendly.
I thought, you know, you know about encouraging maybe some
more or at least another cut this year.
Speaker 2 (07:37):
Right, boy, I don't know.
Speaker 3 (07:38):
I don't know why the traders didn't like it. They
don't like something.
Speaker 2 (07:41):
Yeah, well I've got some.
Speaker 1 (07:42):
I got some reasons for you that that we'll share
when we get to that. But yeah, I want to
I'm want to squeeze that in because that's obviously very
very important. Like you said, people are going, well wait
a minute, now, again, we don't blame us. We've been
warning you that this could happen or this could have happened.
Speaker 5 (07:56):
Let me give you a real live one. I locked
along last week and I brought up the rate. It's
a point and a quarter worse and cost than when
I locked it. Amazing, And he because he thought he
was going to get better rate, and I said, no,
what you have would cost you a point in a
quarter today.
Speaker 3 (08:15):
Had I not locked it.
Speaker 2 (08:16):
Wow, there you go.
Speaker 5 (08:17):
And I didn't, you know, I mean it just I
had to do it because of the time we have
getting closed. So it wasn't, but yeah, he was hoping
to just be able to renegotiate for a lower rate.
Speaker 3 (08:26):
That can happen.
Speaker 1 (08:27):
Yeah, exactly, crazy times to find ourselves, no doubt about it,
no doubt. So we had a lot of great things
to talk to you about. Let's get down to today's
stock market activity again. The day after the Fed interest
straight cut.
Speaker 2 (08:38):
What did we see?
Speaker 1 (08:39):
Pretty good games across the board one hundred and twenty
four point game on the deal about point two to
seven percent, and as that rose two nine point ninety
four percent, SMP gaming thirty two points point four to
eight percent, and again record setting day for the three
major averages. The Rustle two thousand was was also a
very very strong performer. It is now on a year
to date basis up to ten point seven percent, quickly
(09:02):
catching on why, As we said on the show yesterday,
the small caps, those are your young companies, the growing
They need to borrow a lot of money, get a
lot of capital flowing, They go out, they borrow. Obviously,
a lower interest rate environment is very favorable to them,
sometimes even more so than the big blue chips. So therefore,
please take a look at your allocation and your portfolio
and make sure you've got some allocation based upon your
(09:23):
risk and your goals into the small cap area because
this should be an area that continues to roll very
nicely as we get into this hopefully declining interest rate environment.
So two and a half percent gain, by the way,
was the move on the upside of the Russell two
thousand again our best the other three NAZAC up point
nine to four. So you see that dramatic overperformance of
(09:45):
the Russell two and a half percent versus point ninety four. Now,
speaking of rates, where do we sit right now, because
this is the big question. One of the big takeaways
yesterday is I think everybody's takeaway, right Dwight and Corey,
I'm sure you guys agree.
Speaker 2 (09:57):
Everyone's takeaway was we got more rate cuts coming.
Speaker 1 (10:00):
Obviously the size we don't know, but the frequency, you know,
the street at this point is still saying as we
said a couple of days ago, October and December. Right
now we want to bring up to date on the probability.
According to the CEMME FED Watch tool, probability of a
quarter percent cut at October is ninety one point nine percent.
Speaker 2 (10:19):
Ninety one point nine percent, just a couple days ago.
Speaker 1 (10:21):
Matter of fact, right before yesterday's meeting, the probability was
only seventy eight point two percent, another quarter percent cut
in December. Probability today eighty two point three percent. Right
before the meeting yesterday seventy two point eight percent. So guys,
those are pretty good, solid probability numbers, which again are
usually fairly accurate. And so, uh dight you like seeing that?
(10:44):
Or maybe you don't.
Speaker 2 (10:45):
I don't want.
Speaker 5 (10:46):
I don't know what I'm seeing anymore, right, A big
headlight coming in at me. But John, I mean, you know,
on Tuesday we were six point one three. Yeah, today
we're six point three seven.
Speaker 1 (10:58):
That's right up fifteen pass point yes today, just just today.
Speaker 5 (11:03):
I mean, you know, and you know what the headlines are.
De ja vu September of twenty four, you know. But yeah,
because you remember there was a probably remember they did
the half point, then they did the other quarter, yes,
pretty soon after that.
Speaker 2 (11:16):
So yeah, I.
Speaker 3 (11:17):
Don't know they're buying this.
Speaker 2 (11:18):
I don't imagine what happened to have got the quarter
or the half a percent that someone.
Speaker 3 (11:22):
Well it had been back to eight again.
Speaker 2 (11:24):
Yeah, exactly, I'm.
Speaker 3 (11:25):
Going to be selling suit. This is this is crazy.
Speaker 2 (11:28):
And I told you always have a job. I appreciate that.
Speaker 5 (11:32):
I'm going to be the last Mohican stand that's right,
that's less to stay here.
Speaker 3 (11:36):
But yeah, John, it's hard. It's hard to believe, but.
Speaker 1 (11:39):
Yeah, it is, it really is. Well, we'll explain that
when we come back. Why these mortgagers rose again when
the Fed give us a cut. And then I want
to just quickly the big story of the day was
Navidia and then tell I want to tell you what's
going on there. Let us turn it over to Kristin Snow,
the wonderful Christia Snow in the right now traffic center. Hello, Christen,
(12:00):
we got to take care of you on that one. Okay, okay,
I know your address. I do indeed coming your way.
Welcome back to the John Sanchez Show. On his Talk
(12:22):
seven eighty k waits with Coryage Vigrility, Dwight Mallard of
Highlands Mortgage once again a one to twenty four gain
on the dial, the nastec up two oh ninety s
andp gain thirty two. Let's hit the commodity side, give
up a little bit on oil today seventy nine cent
decline finished at about sixty three twenty seven a barrel
gold also pulled back today thirty nine dollars and sixty
cent lost three thousand and six seventy eight forty and
(12:43):
up three basis points, mister mallar ten year treasury at
a yield close of four point one percent once again,
as you said, six point three seven percent on the
thirty year mortgage up fifteen basis points today, and that's
on top of what was yesterday twelve basis points a
five hour Yeah, okay, yeah, so we we hit zero
point twenty seven or twenty seven basis points increase since
(13:04):
the Fed interest rate decision yesterday.
Speaker 5 (13:05):
Well, and John, you remember with the governments, the FHA
and VAS were well into below the six They were
in the five to nine five US now that they're
six point oh five and six point oh seven. So
that's not been a lot good couple of days, right,
I mean, it just started right when he started talking.
Speaker 3 (13:21):
He started to see it. I'm like, what in the world?
Speaker 1 (13:23):
Yep, you know, So let's answer the question why why
are we seeing these mortgage rates go up?
Speaker 2 (13:29):
Dwight. So so essentially, so if you're.
Speaker 1 (13:33):
A bond trader and you just learned that the FED
just cut interest rates a quarter percent, you're going to
go okay.
Speaker 2 (13:40):
Now, again, what people.
Speaker 1 (13:42):
Obviously need to remember, and this is probably the most
important thing that the three of us had discussed. The market,
whether it's the stock market or the bond market, is
a forward looking indicator. It is pricing out six to
nine months what it thinks the market is going to do,
or better yet, what it thinks interest rates are going
to do. So the reason we have seen the rates
(14:04):
come down prior to the FED meeting is again it
was already priced in. Now the market's going, well, let's
see if the economy is going to improve, right, We've
got an interra straight cut cycle that we're just beginning.
We've got an AI driven economy. We've got all these
quote pauses, right, they line them up, They're going, why
in the world do we want to own a bond?
Speaker 2 (14:25):
Right, So let's sell our bonds folks. And what does
that do?
Speaker 1 (14:27):
Of course, drives those yields up. It really is that simple.
You know, from a fundamental standpoint, you AGREEQ.
Speaker 3 (14:34):
Do, I I do, and I think it's not to
bring back bad memories. But this this cut last year,
just looking at this chart, we were hovering water around
three six, three seven, yep, and it started going up
and it didn't stop till it almost hip five yeah,
four four nine the tenure. Yeah. So not saying it's
going to do that again, but it's right. It's certainly
(14:56):
the pattern.
Speaker 1 (14:57):
Right, And that's to your point, de Way. You know what,
how do you tell somebody? And that's the hard part.
You know, My hat's off to you and other mortgage
professionals and even you know, folks like Corey on the
sales side of things, is the average person just does
not know that, right.
Speaker 2 (15:10):
You read the headlines and it goes FED.
Speaker 1 (15:12):
Cut a quarter percent, mortgage is going to go down
a quarter percent, and you know they don't listen, you know,
I mean, we need we need a few million listeners
to this show to get our message out because we
have emphasized this for weeks and weeks leading up to
this FED meeting that this was a good probability that
it was going to happen, and indeed it has.
Speaker 2 (15:28):
And I love you. You know the point that Corey.
Speaker 1 (15:30):
Just made this may be the beginning of an increasing cycle, right, right,
I mean this we've done it before, We've done it before.
Because once again people start looking. You have record setting
days over and over again in the equity markets, and
people go, why the hell do I want to sit
and you know in a bond, you know, yielding four
percent for ten years, when you know I can find
the best or you know, a hot AI stock that
(15:52):
you know may do that in half a day or
an hour or something. I mean, that's that's the logic
that's out there.
Speaker 5 (15:58):
Well, and you're, Johnny, you're talking about again the investment community.
You've got countries dropping bonds now dumping bonds. So I
mean it's it's it's you know, it's just a struggle
out there to attract on the mortgage backed security. And again,
john I guess if I'm sitting there and I want
a little bit of maybe growth, but safety, I'm not
(16:19):
sure I'm gonna go to the mortgage backed security market
versus the treasury. I mean, there's your two sandboxes, right,
So if you get you're gonna look at the bonds,
you might go short term over here.
Speaker 3 (16:30):
There's a lot to it.
Speaker 5 (16:31):
But like you said, what I what I thought and
I was telling people, is I wonder if they already
priced the end the probability of subsequent decreases, you know, I.
Speaker 3 (16:41):
Mean, we got we dropped so fast.
Speaker 5 (16:44):
So yeah, so so all of a sudden, it's like, okay.
Speaker 3 (16:46):
Well that was kind of wow.
Speaker 5 (16:48):
There was no wow moment to that. So okay, let's
settle back in and hey, let's get rid of these
things and go right back into that's it, that's the
video or whatever you're gonna buy.
Speaker 1 (16:57):
Right, yeah, well you remember, you know, we talk about
bonds in the relation to the mortgage side of things, right,
But let's remember why do you buy bonds? Right, Why
do we as brokers, why do we put bonds or
bond related type of products in a client's portfolio.
Speaker 2 (17:11):
It's to hedge them against stock market declients. Right.
Speaker 1 (17:15):
Historically, of course, when I was young in this business,
it was really simple. Stock market got lousy, you move
your clients into bonds, vice versa, and you would implement
international allocations. Now we're one big happy world, right, So
now we can't do that on the equity market side
if things start getting lous, and we can't go international
because they're going to most likely get hit, just like
the US market is or vice versa. But now, of course,
(17:35):
as we saw it, happen after the financial crisis. We
can see it where bonds go down, stock market domestically
goes down, stock market internationally goes down.
Speaker 2 (17:44):
So where do I hide? You got cash, right.
Speaker 1 (17:46):
That's the only place that you cause I have a
guarantee that you're not going to lose any money. So bonds, Remember, folks,
from an investment standpoint, you buy a bond, you're lending money.
Let's just say it's a government bond. You're lending the
money to the government. Let's say for ten years. You
don't have to hold it that long, but let's say
it's a ten year government treasure. It's like, okay, once again,
I are yield today four point one percent. So that
(18:08):
means the government's going to pay you four point one
percent every year for the next ten years. At the
end of ten years, you get your get back one
thousand dollars. You may have paid a little bit more
than a thousand or a little bit less, but you're
essentially going to get back one thousand dollars and you've
made four point one percent. But again, when the stock
market starts taking off, people go, well, wait a minute here,
I've got inflation.
Speaker 2 (18:28):
You know, close to three percent.
Speaker 1 (18:31):
So if I'm making four point one great, I'm only
making you know, one hundred and ten basis points on
my money.
Speaker 2 (18:37):
Is it really worth it? Right? And the answer is geez.
Speaker 1 (18:40):
I hear about all these AI stocks, and I hear
all these companies doing great and on and on, So
I'm not going to do it.
Speaker 2 (18:45):
So they lower that allocation.
Speaker 1 (18:47):
The only ones to your point, Corey, I think you
said about the institution or Dwight, you said it on
the institutions. They can't do that, right. They have mandates, right,
an institution, a pension plan, a sovereign wealth fund, that
type of thing. They have to keep a certain percentage
at all times in stocks, in bonds and alternatives and
so on and so forth. So no matter what they
think they want to do, they can't. That is their rule.
(19:08):
That's their investment policy statement. If you're a sixty forty shop,
you got to stay sixty four or sixty percent equities
forty percent bonds no matter what goes on. And that's
you know, that's that's where one of the challenges. But
everybody else, you know, bonds are trading vehicle, and you
get something like a market moving thing like the FED
interest rate decision yesterday, and the traders go, you know what,
for all those reasons I mentioned, I don't want to
(19:29):
be in bonds, they sell them, they start driving yields up.
Speaker 2 (19:32):
It's like, and you take.
Speaker 5 (19:34):
The administration right now when they start, you know, talk
about their successes, the investments in this it just is
counterproductive to the bond market.
Speaker 2 (19:42):
Yeah, yeah, it is. Yeah, it is.
Speaker 1 (19:44):
It's good word counterproductive. Last thing, guys, I want to
squeeze in real quick. Very interesting. Again, as many of
you are well aware, a few maybe a month or so,
I don't remember the exact time period, the US government
took a stake in Intel. We all know that Intel,
of course was struggling for many, many years through the
Chipsack two point zero. The government, yeah, we don't know
(20:04):
if it was a grand a lend, whatever it is.
But the bottom line Trump administration came out about a
month ago it said, hey, you know what those billions
of dollars Intel that we quote LINT gave whatever they
want to call it, you owe us some ownership. So
the government US government took ownership in Intel to the
tune of ten percent. They are the largest shareholder. They
don't have voting rights like a Commons shareholder does. But
(20:26):
the government US government owns ten percent of Intel. That
was about an eight point nine billion dollar acquisition or
lend or. Again, however, they did it behind the scenes.
So let's just say the government owns ten percent worth
roughly nine billion dollars.
Speaker 2 (20:42):
Well, we wake up today.
Speaker 1 (20:44):
Literally it happened overnight and na Video said, Hey, guess
what we like that company. Also, we're going to put
in five billion dollars. We're going to buy five billion
dollars of Intel stock because we're going to do a
lot of things. We're going to take an equity stake.
We're going to have a multi year collaboration to co
develop some custom data centers with Intel, some PC products,
I mean, all kinds of things. So kind of bizarre
(21:05):
that a competitors coming in and you know, making a
capital contribution via the equity market into their company. But
they did it so five billion dollars, which is nothing
again to in Navidia. They did that. Street loved it.
Navidia today shot up five dollars and ninety five cents
three point four nine percent to win seventy six twenty four.
Intel just a stud twenty eight point seven nine percent
(21:26):
increase seven dollars and seventeen cents to thirty two oh seven.
So now you got the US government and you have
Navidia as major shareholders of Intel.
Speaker 2 (21:34):
That was a big story of the day.
Speaker 1 (21:35):
Speaking of big stories, how about our local real estate
data for the month of August.
Speaker 2 (21:39):
Corey and might have all that information ready.
Speaker 1 (21:40):
We'll tackle that when we come back, but first it's
turned it over to Jack Saban.
Speaker 2 (21:44):
He's got news trafficking with her.
Speaker 1 (21:45):
Heyja, welcome back to the John Sanchez Show on Newstalk
seven eighty KO. Wait to a coryas de veg related
to a white malard of Highlands Mortgage once agin and
we finished with a game of one twenty four on
the DAW, up two nine on the Nasdaq, and a
thirty two point increase on the S and P five
(22:05):
hundred record sitting day for those major averages. But it's
now time that we switch things over to the world
of real estate. How's our local real estate market in
northern Nevada doing well? The boys have the data, so guys,
let's get started with this. And uh really figured this out.
So mister Ridge, I'm gonna start with you as always,
let's talk about our media and sales price. Five hundred
(22:26):
and eighty five thousand dollars bring us up to date.
Speaker 3 (22:29):
On this one. So not down two and a half
percent from July, down four percent year over year from August. Again,
you know, I kind of sound like a broken record.
It's it's down, not a huge amount. This chart seems
to be kind of up down, up down. I sent
you guys both under the audience. Well, I guess the
audience could see if I stuck up there, but kind
(22:49):
of a long term chart. I don't think seeing that.
But we're just kind of bouncing. It's it's it's not
the worst thing anymore. We're kind of bouncing along the top.
If you will keep hitting these ceilings, come down a
little bit, try to hit it again. I am starting
to see some of the seasonalities slow down start to
kind of play in. So I got to remember, this
is August numbers. Now we're in September, you know, October, November.
(23:12):
It's not unusual to see these things, you know, start
their downward trend right now. So nothing alarming, but it
is down now.
Speaker 1 (23:20):
Some of the data, Corey, that I was looking at
outside the scope of this report indicating that this is
really the first meaningful year over year decline that we've
seen in quite some time, with again this down four
point one percent year over year.
Speaker 2 (23:34):
Do you agree with that it's.
Speaker 3 (23:36):
The first time we've seen it in three or four
years for sure, because remember we've had Dwight and I've
been talking about it. The last few springs have been
really hot and it kind of cools off a little
bit in the summertime. Then we get to we didn't
have a good spring this year, and Dwight and I
were joking before we jumped on the air that this
is August report, but a lot has happened just in
the first two weeks of September, including what happened yesterday.
(23:58):
So we'll see if these numbers hold true. But as
we were talking about the beginning of the show, if
rates do start moving up significantly, then yeah, it could
be it could have a negative effect. We were hoping
it's gonna have a positive effect. It could be different
depending on what the bond market does.
Speaker 1 (24:14):
Right exactly. Yeah, because we were it seems like it
wasn't that long ago. I have to go back to
the data, but we were around six sixteen or so
medium this few months back.
Speaker 3 (24:23):
Right, yeah, I think. I mean, geez, we're topping out
at six twenty five. We hit that back in April May. Again,
I mean we've hit six. We've hit the six twenty
five mark at least five times in the last two years, okay,
and always kind of bounced straight down.
Speaker 2 (24:41):
Yeah, that's kind of been our resistance level. Yeah, pretty good. Okay,
So not good side there or good data there.
Speaker 1 (24:48):
Let's go on to the closed sales three hundred and
eighty six closed sales take it away.
Speaker 3 (24:53):
So I know everybody can't see the full report, and
we'll get into all these but there's what looks like
maybe eight categories here. I have little arrows that point
up or down, depending on if it's upper down. It's
the first time in a long time I've seen they're
all red, except for the one that you want red,
which is month's supply. That one's great. So every single
(25:15):
arrow is pointing in the wrong direction. But close sales
may month over month in year over years, meaning month
over month, you're over Yeah, So close sales three eighty
six down five point six percent from July twenty five,
up one point three percent year over year could be seasonality,
could be fewer houses on the market, which we'll get
down to. There could be buyers. There's still a feel
(25:38):
in the market. I still have the calls where if
you have a listing, people come through and look at it,
you call to get feedback and they're looking at five
other houses. They haven't made up their mind. They're gonna
take some time. When you're out with buyers, they now
have time to say, nah, I love the house, but
I don't like the way the backyard is facing, so
let's keep looking. Whereas before it's like you take what's
(25:59):
on the market and you buy, otherwise you get nothing
that there's still that out there where they have some choices, you.
Speaker 5 (26:05):
Know, John, will you get those really well qualified buyers
that can buy six seven hundred thousand. To Corey's point,
they're going to take longer time because they feel like
they're in the driver's seat.
Speaker 3 (26:15):
I'll go, look, it's amazing.
Speaker 1 (26:16):
That's what I was gonna ask. That's what I was
gonna ask both of you. What are you hearing from
your clients. Do they feel meaning on the buy side,
Do they feel a little bit more probablys a term arrogant,
a little more Cocky a little more confident now versus
say a year ago, Corey into it.
Speaker 3 (26:30):
I would say they don't feel I don't know the
arrogance right where, but they do feel like they have
more options. So there's not they're not stressed about timing. Okay,
So now the interesting thing will be they've been in
a downward their rates have been going down. So now
if they feel like, hey, I have more time, but
the rates are going to start pressing their affordability, do
they make a decision to jump on whatever happens to
be there, or do they say forget it, I'll come
(26:52):
back later.
Speaker 5 (26:54):
Well, John, and add to that, add to that, if
you go into like a subdivision, or if you get
a resale and they're willing to drop at thirty forty
grand right there, Yeah, you're.
Speaker 3 (27:04):
Just gonna keep gold fishing. You're just gonna wait a minute,
if you know.
Speaker 5 (27:08):
So, that's not helping narrow it down either, that's just
expanding a wider net out there.
Speaker 2 (27:14):
Okay, fre good point.
Speaker 1 (27:16):
All right, So once again, our close sales for August
three hundred and eighty six, down five point six percent
month over month, up one point three percent year over
year median days to contract twenty nine, down five percent
month over month, up fourteen percent. There's your point, corey.
Speaker 2 (27:30):
Year over year. Take it away.
Speaker 3 (27:32):
Yeah, so this is where you want the red arrow
because it's down. So the median days to contract from
the day we list it to the day goes pending
an MLS, it's counting those days. So on average, it's
taking twenty nine days for a house to be listed
to go into contract. Do you want that as a seller?
You want that number going down. You want that house
to sell faster than it would. So down five percent
(27:54):
month over month not the worst thing. That's for the
trajectory you want on the sellar side. But up fourteen
percent year over year just kind of shows me. It
tells me at least things are kind of still stagnant
a little bit. It's still twenty nine days, which seems
like it was going to be in this market. Yeah,
but it's still I can remember I didn't know anything
about well I still don't know much about real estate,
but when I was a kid, and I just remember
(28:19):
my parents. My parents were selling their house. I mean
they were selling our house, I guess, and I just
for some reason, I always felt like, man, it takes
a long It takes a year or so. It yeah,
I mean it just it's a long, long process. So
I think we've been we've had a little bit too
good of times. Yeah, spoiled.
Speaker 2 (28:36):
You know, that's a good point. I agree with you
one hundred percent. Remember those days too. All right?
Speaker 1 (28:40):
How about you getting for the price that you're listening
to the house at so list price received, you're getting
ninety eight point five percent of that down two tenths
of a percent month over month, down seven tenths of
a percent year over year.
Speaker 2 (28:50):
Not much action their.
Speaker 3 (28:51):
Core, not much action, and you're going off small numbers,
so you've got a couple of red arrows and not
a big deal. Again, this number will always fluctuate between
call it ninety having at one hundred and two, because
it doesn't count the price reductions of what we went
through to get to that numbers.
Speaker 1 (29:06):
Right, right, exactly, Dwight take us away on the price
per score foot medium sold price per score foot three
hundred and twenty one bucks down two point seven percent
month over month, you're over year down just three tenths
over percent. I was shocked on that one. With inflation
and so on, tariffs, et cetera. I thought that number
would be much higher.
Speaker 5 (29:24):
I did too, but that it just showing the stubbornness
of you know, just trying to stay in that range
right there, that three twenty three twenty five range kind
of stuck, which is you know, I agree with you.
I thought that was going to be a higher number.
Make it even more less I mean, less affordable. You
know it's going to be a bigger number. But right
(29:44):
that's encouraging, I think.
Speaker 2 (29:46):
Yeah, yeah, no doubt.
Speaker 1 (29:48):
Okay, Corey, let's go to the next way before we
go to break a new listings. We had four hundred
and forty one new listings in the month of August,
down seventeen point four percent month over month, down twelve
and a half percent year over year. A lot of
people are going, eh, I don't like this market. I'm
not going to list right now.
Speaker 3 (30:04):
Yes, and so as a seller, you want that number
to go down. As a buyer, you want it to
go up to have more options. This could also be
I mentioned it on Tuesday because I've done it with
a couple of clients recently. You get to this time
of the year and you have those frank conversations, say listen.
At that price, we're not going to get it. Let's
try in the spring, because spring is the time, so
it's not surprising to get fewer listings as we get
(30:24):
later in the season, usually for holidays. But some people
just bank on a hot spring market in twenty six
and they'll roll the dice, right.
Speaker 5 (30:33):
Core Is there a report that shows where people.
Speaker 3 (30:35):
Took it off the market? Yes? Yeah, OK, yeah, and
I can pull that and that is the one we
talked about a couple of weeks ago that across the
country canceled listings are I don't think it's an all
time high, but the trajectory was through the roof people
pulling their houses off the market or canceling their contracts.
Speaker 2 (30:55):
I heard the exact same thing on a Niche Basinis.
You got it all right.
Speaker 1 (30:58):
When we come back, let's talk about how many homes
for sale out there are active inventory and then our
month's supply of inventory with Corey and Dwight. Let's wrap
it up with Kristen snow right now Traffic Center. Kristen,
welcome back to the John Sanchez Show on News Talk
seven to eighty. Koh to the Coryans Eventuality, Mister Edge
your phone number saw.
Speaker 3 (31:19):
Six seven three six seven zero zero, mister Billard two
four zero two zero two.
Speaker 2 (31:24):
Two beautiful, Thank you boys, Do you appreciate it? All? Right?
Speaker 1 (31:27):
Once again, we've been covering our market real estate market
data for northern Nevada for the month of August. Once again,
let's recap what we've covered so far and get down
to our final two categories. Our median sales price now
five hundred and eighty five thousand, down two point four
percent month over month. Closing sales down five point six
percent month over month. That's three hundred and eighty six
median days to contract twenty nine down five percent month
(31:50):
over month. Liz, price received ninety eight point five percent
lower by two tenths over percent month over month. Our
meetium sold price per score foot three hundred and twenty
one dollars down two point seven percent month over month.
And now, mister Edge, as you said, four hundred and
forty one listings down seventeen point four percent month over month.
Year over year down twelve and a half. Again, people
(32:12):
are just sitting on the sidelines, as you were saying
before we went to break.
Speaker 3 (32:14):
Correct, Yeah, sitting on the sidelines could be seasonality could
be different things, but not unusual for that number to
start heading down.
Speaker 2 (32:22):
Perfect.
Speaker 1 (32:22):
And I want to remind everybody now that we are
again broadcasting simultaneously onto YouTube. Those of you that want
to see this report again, pick up our YouTube video
that John Sanchez Show, and you can see all of
the data that we're talking about here. All right, guys,
our last two reports Corey active inventories one and ninety
nine units down four point nine percent month over month
(32:44):
and up thirteen point two percent.
Speaker 2 (32:45):
Year over year.
Speaker 1 (32:46):
So that thirteen point two percent I need increase year
over year. I need an explanation on that one.
Speaker 3 (32:52):
That's just more inventory than we had last year. I mean,
that's what That's what has stabilized pricing, maybe brought it
down a little bit. That's what's good. The buyers all
the feel good about being able to look around and
not be so stretched. We've been slowly getting increases in inventory,
you know, pretty much every month this year. The reason
I think it's down month over month is because we
(33:15):
didn't have the new listings this past month to add
into it. But if you remember, I mean twelve hundred
houses as active inventory is a it's not a huge
number for what we've done the last couple of years.
It's a pretty sizable number, and we'll get down to
the next segment, but it equates to three months supply,
which is that's the first time we've crossed three months
supply in a while, so it's interesting.
Speaker 1 (33:36):
Well, let's wrap it up with that, with ninety seconds
remaining three point one month's supply of inventory up seven
tenths of a percent month over month, rising eleven point
eight percent year over year.
Speaker 3 (33:45):
Yeah, and that's the one to watch. That's the one
that to me, if everything else being equal, we know
the interest rates didn't kill the prices. We know nothing
else affected the market. The theory has been the amount
of inventories dictating the prices. So if the inventory starts
rising and that theory is correct, prices should start coming down.
So we'll see over the next call it six months,
(34:07):
if that's true, how much inventory we get on the market,
how the prices react.
Speaker 2 (34:11):
Good?
Speaker 1 (34:12):
Perfect, All right, great job Corey. As always, Dwight, wrap
us up mortgage side of things again, as we said,
up twenty seven basis points in the last forty eight
hours on the thirty year mortgage with your advice everybody.
Speaker 3 (34:21):
Here we go.
Speaker 5 (34:22):
We got to be patient a little bit, but I mean,
if you've got a quick close, you've got to start
looking at locking it and protecting what you've got now.
But John, this report is really buyer friendly. So if
we can just get the rates to help us out here,
I mean this, we're in good shape at least with
the buyer side.
Speaker 1 (34:37):
And always wait, you know again, things get still choppy
over the last couple of days after the FED meeting,
So let's see if things calm down and let's not
hope again.
Speaker 2 (34:45):
So repeat of last time.
Speaker 1 (34:46):
We kept fit quote cuts and mortgage rate skyrocket on
that side of things. All right, fellows, excellent job as always.
We will do it again tomorrow on the John Sanchez Show.
God bless, have a great afternoon.
Speaker 2 (35:01):
DWAIGHTE. Mallard nmlsid number two four one two five nine
a license Mortgage Loan Officer with Highlands Residential Mortgage Limited
and Equal Housing Lender nmlsid number one three four eight
seven one.
Speaker 1 (35:12):
The information shared on this live broadcast is for general
information purposes only and does not constitute financial or mortgage advice.
Speaker 2 (35:19):
Listeners should consult directly with a license mortgage professional for
guidance tailored to their specific situation.
Speaker 1 (35:25):
All loans are subject to credit approval and program guidelines.
Speaker 2 (35:29):
Not all applicants will qualify. Loan terms in availability may
vary by state and are subject to change without notice.
Speaker 1 (35:35):
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.
Speaker 2 (35:49):
The views expressed
Speaker 1 (35:50):
During this program are their own and do not necessarily
reflect those of Highlands Residential Mortgage Limited.
Popular Podcasts
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
My Favorite Murder with Karen Kilgariff and Georgia Hardstark
My Favorite Murder is a true crime comedy podcast hosted by Karen Kilgariff and Georgia Hardstark. Each week, Karen and Georgia share compelling true crimes and hometown stories from friends and listeners. Since MFM launched in January of 2016, Karen and Georgia have shared their lifelong interest in true crime and have covered stories of infamous serial killers like the Night Stalker, mysterious cold cases, captivating cults, incredible survivor stories and important events from history like the Tulsa race massacre of 1921. My Favorite Murder is part of the Exactly Right podcast network that provides a platform for bold, creative voices to bring to life provocative, entertaining and relatable stories for audiences everywhere. The Exactly Right roster of podcasts covers a variety of topics including historic true crime, comedic interviews and news, science, pop culture and more. Podcasts on the network include Buried Bones with Kate Winkler Dawson and Paul Holes, That's Messed Up: An SVU Podcast, This Podcast Will Kill You, Bananas and more.