October 14, 2025 • 34 mins
The conversation explores the transformative impact of artificial intelligence (AI) on the real estate industry, focusing on its applications in property search, pricing, and mortgage approvals. The hosts discuss the evolution of AI in real estate, the rise of data centers, and the implications for buyers, sellers, and lenders. They also touch on the stock market's response to AI advancements and the future of housing in a technology-driven world.
Chapters
00:00 Introduction to AI in Real Estate
01:54 The Evolution of AI in Real Estate
04:51 Data Centers and Their Impact on Real Estate
07:45 Infrastructure Needs for Data Centers
10:37 Market Reactions and Economic Implications
10:39 AI's Role in Shaping Future Real Estate Trends
18:21 The Role of AI in Real Estate
20:57 AI-Powered Property Searches
27:07 Mortgage Pre-Approval Revolution
30:16 Future of Mortgage Funding
👉 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.
Chapters
00:00 Introduction to AI in Real Estate
01:54 The Evolution of AI in Real Estate
04:51 Data Centers and Their Impact on Real Estate
07:45 Infrastructure Needs for Data Centers
10:37 Market Reactions and Economic Implications
10:39 AI's Role in Shaping Future Real Estate Trends
18:21 The Role of AI in Real Estate
20:57 AI-Powered Property Searches
27:07 Mortgage Pre-Approval Revolution
30:16 Future of Mortgage Funding
👉 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 (00:00):
Oh, Corey, the world of artificial intelligence AI, how it
plays into the world of real estate. I'm so anxious
to hear how you're utilizing it. I have a feeling
you're going to say, Aaron, Aaron, Aaron, Aaron a lot today.
Speaker 2 (00:14):
Aaron is my AI bought How do I do this?
Speaker 1 (00:18):
And he doesn't exactly exactly Well, all of you know,
of course, on Mondays we have my brother, doctor Dennis
Sanchez on we do an AI segment in regards to
solopreneurship and business and.
Speaker 3 (00:30):
Things like that.
Speaker 1 (00:31):
But I thought, you know, this is a time, Corey,
that we really need to be resurfacing. It's been probably
a month or so since we made any mention. I
think it may have been with Aaron in one of
your days that you weren't with us, and really bringing
this to the forefront, Corey, in regards to AI, how
AI is shaping real estate, you know, from home searches
(00:53):
to mortgage approvals. As Dwight will talk about, AI is
absolutely reshaping completely how Americans buy and sell real estate.
Today we're going to explore with Corey and Dwight how
AI is changing the game for buyers, for sellers, and
of course for lenders and what it means for the
next move. Corey, let me ask you this real quick
(01:13):
before I get to the stock market side of things today.
How prevalent are you seeing AI grow in the world
of real estate right now? I mean, I guess you
could kind of say before you answer, it started off
right when when the advent of Zillos. However, many years
that was a goal and so on, so for that
was kind of really the beginning of it. But are
you fascinated to see how fast it's it's it's it's
(01:35):
transpiring at this point.
Speaker 2 (01:37):
It's it's I think that there's a lot of it
behind the scenes of people don't realize Zillow's the main thing.
And back when that all started, we didn't even know
what I don't even know if there was a term AI, right,
you know, it's algorithms and they're doing this and that
now everybody can kind of do the same thing. We'll
get into a little bit. My next kind of integration
from that that I really caught my attention was the
virtual staging. You can take a house you have listed,
(02:00):
you can yeah, you can stage it in any you know,
realm that you want, which was pretty pretty interesting, and
so it's kind of like from the buyer side of it,
you know, buyers have preferences for this at the other
and not that the MLS doesn't do it, but it
almost creates kind of like that algorithm of it's going
to give you the choices that hit your top parameters,
(02:22):
and it's going to go out there and search those
for you and bring them back to versus you going
and search for them. I think the other thing too,
that article I sent you that I think you looked at,
was that yesterday or whenever? It was? The data centers,
Like we all think about, oh AI, what am I doing?
But AI in general is changing the face of real
estate from that side of it, from the commercial side,
(02:44):
the data centers. What's it doing for neighborhoods. I don't
know if you've caught that the very end of that
story where they talked about a big project in Reno
that was trying to change its zoning from residential to
commercial to bring in these data centers. So that story
was probably five or six months old. Just yesterday they
(03:04):
approved that change. They really, so now you're gonna have
massive data centers out north. There was going to be
five thousand houses. Now there's going to be a thousand
houses and millions of score for your commercial data centers.
Speaker 1 (03:16):
So they shrunk the footprint of the housing to make
room for the data center.
Speaker 2 (03:20):
Absolutely yeah. And so then you get into electricity, where's
the water coming from? How many jobs? So there's there's
ways it's changing real estate without you know that are
outside of the normal buyer seller, What am I doing
type of thing.
Speaker 1 (03:35):
Real quickly because you're on this and again this was
a fascinating story that you send and that was it
was done by NBC News.
Speaker 3 (03:42):
This was a national story.
Speaker 1 (03:44):
But locally, so the reporter was out in Tahoo Reno
Industrial Center, right, and they were going around with one
of Lance Gilman's top guys. I assume I don't know
the Guman, but fascinating to see because I've wondered that Corey.
It's like, you don't hear a lot about centers here locally,
and and the story proved absolutely wrong. There's from what
(04:04):
he's talking about, there's a bunch of them that are
coming right and and and always say, like you said
some going north of Reno. Obviously those are east of Reno.
I saw even in that story there was some what
almost in like almost I won't say downtown.
Speaker 2 (04:17):
But oh, it's downtown.
Speaker 3 (04:19):
It's a mile okay, I couldn't tell exactly from where
they were.
Speaker 2 (04:22):
It's just a mile west downtown where he was standing,
crossing the railroad tracks and so, and that was a
huge fight. I had a friend of mine who's a
water right attorney, so they'd been working on that for
I don't know how many years, and he was involved
because of the water right aspect of it, where you
you need water for the cooling of all these things.
And there's a huge fight going on, not just here locally,
(04:42):
but across the country. Can you put these data centers
in the middle of residential cities, you know, and the
zoning doesn't allow for it. But Reno, I don't know.
For Reno, well, we'll see if it's good or bad.
But they're kind of at the forefront of we're going
to allow it and it's an experiment. We'll see what happens.
Speaker 1 (04:58):
Right right, As a realistic broker, what's your opinion on that?
Do you think it can be mixed use like that?
Speaker 2 (05:04):
I'm sure. I mean, unfortunately, I was born and raised here, right,
so I remember when we didn't have all these big,
huge warehouses everywhere. So now you know, you have massive
warehouses everywhere. You go to Mount Ross Highwa which is
the most beautiful scenic part of this you know, little town,
and now they're putting massive warehouses everywhere. So you know,
is there a difference? Yeah? Probably, I don't know. It's
(05:24):
the future, right, so I guess we're gonna be going.
It's funny. So my son had a tournament in San
Francisco on Saturday, drove down Friday, woke up early Saturday,
drove you know, a city, so he could see things
like It's like, Dad, he's never been down there, Dad,
where's all the yards? All these houses? War I go,
They don't have yards. They build them on top of
each other like that is Yes, by the time you're
(05:45):
my age, this is what Renal's going to look like. Unfortunately,
so you better move.
Speaker 3 (05:49):
No, that's very true. That is very true. All right.
Speaker 1 (05:52):
Great pleasure to welcome Dwight Millard of Highlands Mortgage. Joanna's
great to.
Speaker 3 (05:56):
Be with you, my friend, Great to be with you.
Speaker 4 (05:58):
John.
Speaker 3 (05:58):
We were just talking about Dad Centers.
Speaker 1 (06:00):
That story that Corey sent us the other day in
regards to the data centers going on, you know in
our local area you know, north, south, right and downtown
and so on and so forth. And Corey just brought
up an excellent point that we'll expand on as we
get into our how AI's reshape in real estate of
how it is just not even you know, in regards
(06:21):
to your world do I as a lender, do I
Corey's world as a real estate broker? But just again,
these massive data centers going everywhere, the infrastructure needs that
are required, the power of the water, just everything. I mean,
I don't know, Corey, You're you're tied in pretty well
with a lot of commercial guys. Are is this like
the new you know, the new thing. Let's start building
(06:43):
data centers or or specking a land for data centers.
It used to be you know, the industrial centers, right
because everybody needs uh storage for their products for e commerce,
et cetera.
Speaker 3 (06:55):
It's like, I'm not hearing that anymore.
Speaker 1 (06:57):
From the institutional side, it's all data center, our data
sent is that is what you're hearing.
Speaker 2 (07:01):
Also, that is the hot spot right now. And so
as you mentioned too, yeah, they're specking it. So that
whole project we talked about, I don't know that anybody's
spoken for any of the dirt yet, but I'm sure
that we're going to spec build or spec develop some
large spaces for data centers. And when you listen to
all these guys and you listen to them all day long,
like I do, and it sounds like we're you know,
(07:24):
we're only a tenth of what we need and this
is going to last forever, which may or may not
be true, but if it is true, yeah, this is
this is the future. I mean, we're at the open space.
You have now kiss a goodbye because it's going to
be fulling data centers.
Speaker 3 (07:39):
Dwight real quickly.
Speaker 1 (07:40):
Before you get into the stock market side, you spend
a lot of time in Texas that that is almost
seems like the nucleus of data center construction. What do
you see when you go there and visit.
Speaker 4 (07:51):
I mean, just building after building after building anywhere that
there's a you know, I guess in access to the freeway.
You know, it's just amazing. Uh. And then around it
it's almost like they build this data center and then
the homes.
Speaker 3 (08:07):
Yeah, not the homes.
Speaker 1 (08:08):
You know, it's almost like it's like you build a
shopping center and build the uh the residential around it.
Speaker 3 (08:14):
That's a great point, Toy, that's a great point. Yeah. Yeah.
Speaker 4 (08:17):
So it's just it's and to course point, you build
it and it's gonna get it's gonna get filled. I mean,
it's just and they're massive, right, They're just massive.
Speaker 3 (08:26):
Yeah.
Speaker 1 (08:27):
Yeah, all I've seen this picture. I get to see
one in person. But yeah, the pictures are just staggering.
And the and the amount of I mean Caterpillar stock
has just been on a tear recently, and I wonder
how much of that is attributed to uh. I mean
you look at those construction sites and all you see
is a bunch of yellow iron out there. So someone's
buying a bunch of Caterpillar graters and dozers and everything else, excavators,
(08:47):
everything else that goes you know, with those those construction companies.
Speaker 3 (08:50):
Corey just got to be making a fortune. I would
think it just making and I would think.
Speaker 1 (08:55):
What I'm knowing that they're sorry to RepU what I'm
noticing this. There's a lot of construction company is now
that's all they're doing, right, I don't they started out
that way, but that is all they're doing. And a
lot of them are getting acquired by some major Wall
Street firms that want to control the whole ecosystem from
design build. I won't mention which Wall Street firm this is.
(09:16):
At this point, not only have they bought construction companies
literally around the world because these data centers, they're going
around the whole world. It's not just here in the US.
They've also bought a massive h back contractor right, because
they've got to be cool. I mean, to your point,
it's a whole infrastructure play, an entire infrastructure play.
Speaker 2 (09:32):
Well, it'd be interesting to see as this goes on,
maybe years, maybe decades, that footprint will probably shrink, right,
They'll get better at what the size needs to be
and the capacity And do you need a million square feet? No,
we can do with five thousand square feet what we
used to do with the million. So this whole thing
is just gonna it's got a lot of different, you know,
(09:54):
variants that will happen over the years.
Speaker 1 (09:56):
Well, I think what's gonna be interesting is when we
see little nuclear power plant. Sure, yeah, in our backyards,
because that's where they're going with this, at least at
this point. And there was one company came out the
other day and they're playing around with hydrogen technology right,
cheaper and so on and so forth.
Speaker 3 (10:12):
So who knows what it's gonna be.
Speaker 1 (10:14):
All we know, like you said, it's gonna take a
lot of water, it's gonna take a lot of power,
and as you know, time goes on, they'll figure out
ways to do it cheaper, faster, you know, smaller, but
with the same amount of output. Yeah, it's it's amazing,
absolutely amazing to watch this. So yeah, it's gonna be
a fun topic. We've never really got into this aspect
of it. All right, let's go and get the break
out the way we come back to tell you what
happened in the stock market today, How the president moved
(10:35):
the market again, Actually it wasn't him. Is this guy
called Jamison Career. He moved the market in a very
nice positive direction today. But we'll tell you all about
that and many more details than we'll get into our
topic with Corey do I how AI shaping real estate?
But first it's turned it over to the wonderful Christian
Snow in the right now traffic center. Hello Christen, Welcome
(10:58):
back to the John Sanchez Show one News Talk seven
and eightyh with a Corey individulity.
Speaker 3 (11:01):
To the white mallart of Highlands mortgage.
Speaker 1 (11:03):
All right, let's get to the mortgage sided and the
stock market side of things, and then we'll get to
our topic, how AI is shaping real estate?
Speaker 3 (11:11):
All right?
Speaker 1 (11:11):
Wild ride today had to say the least worst level.
We were down nearly six hundred points on the Dow,
but we clought our way back and finished with a
gain of two hundred and three. I'll tell you the
catalyst in a moment, zero point four to four percent increase,
Nazak can posit up one hundred and seventy or suit
me down one hundred and seventy two points three quarters
of a percent to a close of twenty twenty five
twenty one, SMP down ten points, just a fraction of
(11:33):
a percent, finishing the day at six thousand, six hundred
and forty four. All right, so we had a nice
rally yesterday, right. Trump made those comments after the true
social post on Sunday. We made the comments Sunday night
indicating once again China is going to be just fine.
All the algorithms took that as a positive comment, and
(11:54):
of course we rallied very significantly yesterday with the Dow
five hundred and eighty eight nas thatak grows four ninety
spup one hundred and two. Come in this morning, futures
look real good, looks like we're nice and solid. Things
are going just fine. And then all of a sudden,
the news comes out that we've got problems. Okay, back
to China, what are surprising? Overnight China sanctioned five US
(12:15):
linked subsidiaries of the South Korean Hanua Ocean Ship Company,
And this, all of a sudden brought back the whole
issue that Okay, now China is not only trying to
punish US with this tip for tat situation between President
She President Trump. Now they're going after countries that of
course deal with US, ie South Korea. So that sparked
(12:38):
a bit of a concern. In the pre market session,
we started selling off, and then about an hour after
this market opened, it just started plummeting and plummeting and plumbting.
We're like, oh boy, this is going to be a
repeat of Friday, right, China's at the forefront and here
we go. Then Jamison Greer, the US trade representative, came
out and said, I you know, things are really all
that bad. Matter of fact, kind of taking this, you know, uh,
(13:02):
Chinese can you will see what you know China is
gonna do on this whole thing. They're the ones who've
chosen this major escalation, you know, so on and so forth,
and the market took his comments to to, you know,
basically be fairly positive. And so all of a sudden, man,
this market rips higher, right, and hence we finished up,
like I said, strong, two hundred and two points on
the doubt. So there's much more to what Jamison Greer
(13:25):
had to say, but bottom line, he had positive comments.
Speaker 3 (13:28):
Now this is the bizarre one, guys. I don't know
if you guys saw this or not.
Speaker 1 (13:30):
So we get into after the close, and now we
come back to the president. Okay, the President now is
picking on China in regards to, of all things, cooking oil.
You heard me right, cookie oil. The President said his
(13:51):
administration is considering terminating business with China having to deal
with cooking oil and retaliation for Beijing refusing to US soybeans.
He said, China is committing an economically hostile act by
purposely not buying our soybeans, causing difficulty for our soybean
farmers in business with China. And cooking oil and other
(14:13):
elements of trade are possible forms of retribution that Trump
said he was weighing on. He said, as an example,
we can easily produce cooking oil ourselves. We don't need
to purchase it from China. That China, of course, has
been the top buyer of US soybeans. We've all been
following this story, top buyer of US soybeans up until
this year. They would buy, well, just last year, twelve
point eight billion dollars of soybeans. But amid with the
(14:37):
trade war between the two countries, they have not bought
a single American soybean going back to May. And hence,
why are US farmers, the hard working men and women
out there suffering the soybean farmers.
Speaker 3 (14:49):
Trump of course has indicated.
Speaker 1 (14:52):
His desire to give him some financial relief, but so
far none of that has happened at this point. But
I just found it kind of bizarre that, of all things,
you know, again, after the President on Sunday indicating don't
worry about China, it's going to be fine, Mark rallys yesterday,
then now we're coming back and we're arguing about cooking oil.
But that's where we set again, this is a very
(15:15):
very jittery market at this point. Everyone's just literally baited breath,
you know, not knowing what's going to come out of China,
what's going to come out of Washington in regards to
things that could affect the market, and then all of
a sudden, you know, here we are and we find ourselves,
like I said, in a very very volatile time period.
(15:35):
Let's go to the commodity side today, speaking of commodities,
sixty seven loss sent loss on oil fifty eight ninety
seven to borough. Another strong day for gold after what
one hundred and thirty two dollars right around there gain
yesterday if I remember correctly, we finished up thirty two
to seventy on gold, four thousand and sixty five to ten,
down three basis points, mister mallard, ten year treasury four
h two is our yield? How do we do on
the mortgage side of things.
Speaker 4 (15:56):
Yeah, we're not moving too crazy, John. I think last
week we're six point three five or something. Today we're
six point three one on the thirty or fixed. It
feels like we're just kind of waiting to see the
end of the month, you know, the FED meeting, the
fifteen year five point eight three, so we gained a
little bit, We got a little better there, and you know,
(16:17):
your your your FHA and your VA loans are right
there in the bottom of the sixes. So I would argue,
though when I look at pricing, we're probably slightly better
than what they're these are showing. Okay, yeah, well the
mortgage backed security market was a little stronger than your
treasury market today, so but it's still that little pesky
(16:38):
six point three six point three five, So I mean,
we need to get that down. You know, we're still
what twenty basis points higher than what we were that
Tuesday before the FED decrease. So I don't know. You
and I have gone back and forth and talked to
several times. What's going to break this? And I'm not
sure there's much out there. So it feels like everybody's
kind of dug in. These builders are kind of like
(17:01):
accepting there. Just the incentives aren't going away, right Corey.
I mean, there's everyone's gonna have to just keep pushing
the incentives.
Speaker 1 (17:08):
Yeah, yeah, well to the rate side of things, of course.
Jerome Palell did speak today at a conference, and nothing
really new out of the chairman's mouth.
Speaker 3 (17:20):
But I will share this with you, guys.
Speaker 1 (17:21):
I don't know if you had a chance to see
the latest CME FED watch tool in regards to the
probability of our next interest rate cut. The FED watch tools,
I indicated is the barometer that everybody looks at. But guys,
the street still has a peg pretty strong here. Right now,
we're looking at a ninety six point seven percent probability
as of today of an October rate cut. Ninety six
(17:43):
point seven percent, and December now is north of ninety
percent that I saw earlier this morning.
Speaker 3 (17:48):
So let's that change.
Speaker 4 (17:50):
So with those percentages, John, you think they've already got
a kind of the mortgage market has already kind of
got a price around it, right, I mean it was.
Speaker 3 (17:58):
Going to bring up.
Speaker 1 (17:58):
That's exactly right, Dwight, It's exactly right. Yeah, we know
how the bond market works. We know how the mortgage
market works, obviously driven by the bond prices. Yeah, it's
already priced it when you're when you're up in this
ninety percent plus range. Use it's fairly accurate as far
that it's going to happen. So yeah, they're they're already
pricing that.
Speaker 4 (18:14):
And I would have to believe that companies are countries
that are not real, you know, in a good space
with the US, like China. They're not buying bonds right now, right,
I can't imagine them. So, I mean, so there's a
collateral damage I guess to all the things that are
going on is, Hey, why would they help us out
(18:34):
in that arena? Right?
Speaker 1 (18:35):
Well, I don't know if you saw, but Pal made
a comment that you know, they're they're they're letting the
balance sheet of the FED just run offs. Right, Yeah,
that's not going to have a positive impact on mortgage
rates whatsoever.
Speaker 4 (18:46):
And we've been doing that now what five years?
Speaker 3 (18:48):
Four years exactly?
Speaker 4 (18:50):
Ninety five million or what is a billion?
Speaker 2 (18:52):
I don't even know anymore? Yeah, is it a million?
Speaker 4 (18:55):
Billion or trillion anymore?
Speaker 2 (18:57):
Right?
Speaker 3 (18:58):
Exactly? All right? Do I Well, thank you for that
mortgage update.
Speaker 1 (19:01):
When we come back, we're gonna get into our topic
how AI is shaping real estate. You don't want to
miss this With Corey Dwight turned over to Jack Sabian.
He's got news traffic and with her. Hey, Jack, welcome
back at the John Sanchez showing these talk seven eighty
koh with Dwight Millard of Highlands Mortgage Corey Edge of
Edge Reality once again a two oh three gain on
the down, lost one seventy three on the nails, deak
(19:23):
decline of ten on the s.
Speaker 3 (19:24):
And P five hundred.
Speaker 1 (19:25):
I should mention the strength of the dow side why
why was this so strong?
Speaker 3 (19:30):
Boy? Oh boy?
Speaker 1 (19:31):
It was a strong day for Walmart up in This
includes a little after hours movement up five and a
quarter percent for Walmart. Caterpillar twenty two dollars and seventy
one cent gain at four and a half percent. American
Express at three point five to nine, bottom of the
list in the video, and it's continuing to sell off
here it's down seven bucks right now. So see how
fast this AI trade can happen. Little disappointment. We had
(19:51):
really good earning these numbers out of Goldman Sacks and
JP Morgan, and they both suffered today. Goldman was down
thirteen dollars and twenty eight cents, JP down five dollars
and eighty nine cents. Really an interesting mixture of what
drove the strength of the dow. But that's why you
saw this weakness in the nastas again the video, did.
Speaker 2 (20:09):
You see mister Diamond's comment on the Cockroaches about the
story I told you on Thursday, No, about the bankruptcy
and kind of the weird stuff that was going on
in that big bankruptcy.
Speaker 1 (20:19):
Right before the show. Yeah, in regardless, Okay, to go
ahead and get you read it.
Speaker 2 (20:23):
I did in good and that's that's what you I think.
I was mentioned to you guys last week, like, man,
have you seen this bankruptcy, Like there's a bunch of
weird stuff.
Speaker 1 (20:30):
When you're talking to creet fram auto filters and yeah,
ankle wipers, et cetera.
Speaker 2 (20:35):
Ye, billions and billions and billions of dollars of off
balance sheet debt that nobody knew about and all these
banks and everybody's kind of I think there was a
big thing on Friday some of the there were redemptions
were coming into Jefferies, and Jefferies was getting hit because
all these hedge funds were trying to redeem anyway. Uh,
Jamie Diamond today was asked about and he goes, well, usually,
(20:57):
and you've said this before multiple times, John, or there's
one on cockroach, there's usually more, so be careful. So
very interesting.
Speaker 1 (21:04):
Yes, indeed, I'm an absolute firm believer in that, Corey.
I've seen it way too often over my career.
Speaker 3 (21:10):
Yeah, there's and that's the second we had.
Speaker 1 (21:13):
The other the the used Carlendar not long ago, following
the bank, y see, and that has a lot of
ugly tentacles that are out there because you just never
know who's involved, right, And again you get these banks
that you think would do their due diligence, but like
you said, you know they're.
Speaker 3 (21:28):
Lending on something that two other banks ahead of them
already lent on, and there's no collas out there, and
it's just yeah, it's.
Speaker 2 (21:34):
A it's a tough one, A tough one.
Speaker 3 (21:36):
Yeah, yes, indeed. And that's again this market.
Speaker 1 (21:39):
That's why I can move so much on you know,
just a little bit of news because that's stuff.
Speaker 3 (21:43):
Out there is lingering.
Speaker 1 (21:44):
All right, we're gonna get to our AI topic again,
how AI is reshaping real estate? Now we were talking
during the break and we need to do a show
on Corey maybe, well maybe Thursday we'll do that.
Speaker 3 (21:54):
Let's continue on the AI tem all week again.
Speaker 1 (21:58):
How ais you know, on a on a on a
commercial basis, and like you were talking about earlier, that
great inside in regards to the data centers here, locally,
et cetera. But today we're going to focus on the
residential side of things. So let's start off. We guys
put together about seven points of how AI is impacting
the residential real estate.
Speaker 3 (22:15):
Side of things.
Speaker 1 (22:15):
And Corey, let's start off with your first point, which
is the AI powered property searches.
Speaker 3 (22:21):
What's going on?
Speaker 2 (22:21):
So and it goes back again. It all started with
Zillow and his estimate and that kind of got the
whole ball roomin before we even had the acronym for AI,
but now everybody has it. And again, what it does
is and everybody's used. If you can go on and
put in your address, it's going to tell you what
it's worth, which is an algorithm in some form of
AI that's kind of aggregating the data. But you can
(22:42):
take it a step further and say, well, I would
really like this kind of house on this acreage with
tall grass and a couple of trees and whatnot, and
it will go out and do the work for you
and find it versus you flipping through a thousand pages
of listings yes to find the house. And as you mentioned,
it becomes kind of a teammate or business partner of
(23:02):
yours to go out and find these things, and you
can give a different search parameter, so that happens. I
don't even want to stay on a daily basis, John,
that happens every second. Right, these buyers are using it
now and every probably every listing agent, including myself. Now,
when we go out, let's say, if you call me
and say, hey, I want you to come out and
check out my property and I'm thinking about selling it,
(23:25):
I'm gonna do all my due diligence. I'm gonna pull
all my comms to all my stuff. But I'm also
going to go check a couple of the AI powered zestaments,
if you will, to see what they're saying, because I
know that's the information you're using. So I want to
make sure that my real life information is somewhat marrying,
or if it's not, that I can explain to you
why what you see on Zillo and riffing is different
(23:48):
from what's really happening.
Speaker 1 (23:50):
Okay, Corey, So I just as you were explaining that
you heard me typing, I apologize.
Speaker 3 (23:54):
So I just wanted to chat GBT.
Speaker 1 (23:56):
I said, please excuse me, please find a listing and
a ren under that for a home for sale under
a million dollars on one acre and at least four bedrooms. Okay,
I'm gonna press a search button right now. One, two, three, four. Ooh,
I think I stumped it thinking longer for a better answer.
Speaker 3 (24:12):
That's never a good one. Ah.
Speaker 1 (24:15):
Shoot, beat my point. That probably needed to be more specific.
But it's still thinking. But it'll it should come back
here in a second either say there's nothing there. And
now it's saying searching for a four bedroom opening Zilo listings,
refinding the search, so on and so forth, searching homes
and reading under one million with acreage, expanding the search areas,
(24:37):
searching for four bedroom aker property, searching MLS listings, searching
MLS listings for renal four bedroom property, pivotal search direction.
Now it's looking again for acreage listing strategy. It's now
talking about starting it again. It's just thinking, so what
are we Maybe twenty seconds now it's looking at the
in our MLS.
Speaker 3 (24:58):
What does that Corey link?
Speaker 2 (25:00):
Same thing, it's the MLS Northern, no matter regional. But
then think about too, as a buyer. You can go
in in a seller two school districts neighborhoods, crime on
this street. I mean it goes, it goes further than
just the house itself, but the living standards that are around.
You know, you can get into criminal activity and what
(25:20):
do they call it, the sex registry? Yes, exactly, all
kinds of stuff.
Speaker 1 (25:25):
Yeah, yeah, Okay, it's finding opening listenings. I won't see
what the address is finding more options. So okay, so
not as fast as I thought it would. But while
that's doing that, okay, So give me a real life
example for someone.
Speaker 3 (25:38):
Oh, here we go. Okay, here are two active real.
Speaker 1 (25:41):
Listings match under one million dollars, greater than less than
one acre and at least four bedrooms. So it just
gave me one address the listing price of seven hundred
and thirty four nine hundred four bedroom, three bath, twenty
three and seventy two square feet blah blah blah, gave
me the next one.
Speaker 3 (25:56):
It says, want me to narrow further, I e.
Speaker 1 (25:58):
Horse zone, pretty single story, specific school, garage count or
pull a few more options from the south suburban Galina
Verdai that's sit on.
Speaker 3 (26:06):
A full acre lots.
Speaker 1 (26:07):
I mean it's already knows you know, it's searching to
get outside areas, knows our outside ears like Verdi and
all that stuff.
Speaker 3 (26:13):
Right, It's sure.
Speaker 4 (26:14):
Yeah, it's amazing, and knows the questions to ask you
follow up questions. That's the scariest, the follow up questions.
I didn't even think of.
Speaker 1 (26:23):
Oh no, it will ask you. It will sit there.
I could sit here for an hour. It will keep
asking questions that you actually have to tell it at
least I do. Okay, I've got enough, right, because it
will dig so deep, you know, and anything you want. Well,
as Corey goes on real quickly before the next break,
I'm going to just say yes to to these additional questions.
We want me to narrow it further. So I'm just
(26:43):
going to say yes, We'll let it chug away here.
But Corey, let's go to the second point. You brought
up the smart pricing and predictive analytics. I love that
those two words, predictive analytics. Okay, let me stop. So
there it goes real fast now. Corey had just brought
up one, let's say, best price match found seven hundred
and ninetynine nine hundred four resime three bath twenty nine
hundred and twenty eight scare feet on one acre no
(27:05):
Hoa's rural field, decent access to freeways, status under contract.
This is probably your best bet right now. It says
that meets all your criteria. If that one falls through
her some more.
Speaker 3 (27:17):
Leads to monitor.
Speaker 1 (27:19):
That's given me four other leads similar to that, and
now it finally wraps up and says, if you like,
I can send you a five I can send you
five to ten live listings with photos, maps and cold
Spring South a Reno Verdi that exactly match four plus
bedrooms under an acre under a million an email alert setup.
Speaker 3 (27:37):
You want me to send those to you?
Speaker 2 (27:39):
Yes, I mean it is. Yeah, it doesn't take, and
it's it's kind of like like you mentioned the more.
He almost gotta be careful with the information you put
in because you may be limiting it too much, spending
it out too much.
Speaker 1 (27:52):
I mean, annoying the prompts, right, And that's hard in
and of itself that you have to what.
Speaker 3 (27:57):
To ask it.
Speaker 1 (27:58):
But yeah, to your point, it will sit there and
just keep going and going and going, and it will,
it will, it will do what you wanted to do.
It's I've had to stump it with all the different things,
and I'm on it, you know sometimes you know, fifteen
sixteen hours a day. Okay, my friend, when we come back,
we're in late as always. Let's go to a point
number two, Corey. This actually let's go to to number four.
Do I want to get this in on the mortgage
(28:18):
prier approval and of how AI is working on that,
and then we'll come back and back fill some of
the Cory's points.
Speaker 3 (28:23):
Dropping up with Christa snow right now traffic center.
Speaker 1 (28:25):
Hello, Christen, welcome back to the John Sanchez Show on
News Talk seven to eighty k O.
Speaker 3 (28:33):
It's mister Mallarde.
Speaker 4 (28:33):
Your phone number thirtain, Yes, sir, two four zero two
zero two two.
Speaker 2 (28:37):
Thank you, mister Edge six seven three six seven zero zero.
Speaker 3 (28:41):
Thank you, fellas.
Speaker 1 (28:42):
Okay, Dwight, let's go to we're jumping down to point
number four in our how AI is reshaping a real
estate and that is mortgage pre approvals in literally I
was gonna say minutes, but sometimes it can be seconds.
Speaker 4 (28:54):
Explain how they YEA, yeah, probably probably, well, you know it,
it's been coming for a long time and started with
let's go with quick end, which is now rocket you
know that which allowed you that was their whole platform,
right was consumer direct lending, you know, And so what
they've done is we've expanded since that. So a lot
of times people don't want to meet with us, especially
(29:15):
since the COVID days. Right, So we all have links
to go to my you know, application is simpler the better,
right right, right, and you and and all of a
sudden you get it, you John, At some point in time,
the agencies Fanny and Freddy are going to allow you
to go directly to them. I have to do it,
right because we have the contract with them. But once
(29:36):
they've completed it, I can get it, like you said,
in in minutes if it just imports credit. Now it's
only as good as what you put in there, you know.
But now they're getting better John, where they can actually
go and do a verification of your employment.
Speaker 3 (29:53):
All I was going to say, yeah, your.
Speaker 4 (29:55):
Your your savings, they participate, if your employer participates.
Speaker 1 (29:59):
Right, needs is your social right well they I mean
they can go out and crawl.
Speaker 4 (30:03):
In pretty much.
Speaker 2 (30:04):
Yeah it can.
Speaker 4 (30:05):
Yeah, there there are they call it. I think it's
a day one or whatever type of a program. And
if your company sponsors that, they can go pull your
employment information and put it in it. It's yeah.
Speaker 3 (30:17):
Do you guys ever get blown away like I do?
I just had it happen the other day.
Speaker 1 (30:20):
I forget what program was doing, but this were they
this personal love? Oh, I remember what it was. I
had to get something notarized and I used an online
notary and they do your your ID verification. But they'll
go back and go did you ever live at this address?
Do you did you ever drive this car? Have you
had that happen? Corey, have you ever gone to Yeah?
Oh yeah yeah. And it's like there's nothing quote technology
(30:43):
doesn't know about you, right, I mean, it's amazing they
knew what you know. One of the choices in knew
the vehicle that I drove when I went to Worster
in nineteen eighty one eighty two.
Speaker 3 (30:52):
Yeah, it's out in the world. Did you know that? Right?
Speaker 1 (30:55):
So to my point, to your point, it's like, well, geez,
you know, give you you put in your Social Security
number and it just crawls and does everything and issues
the approval, the decline, whatever the case is, and you know,
it just goes from there.
Speaker 2 (31:10):
Okay, hopefully it's still good.
Speaker 3 (31:13):
No, go ahead, No, I.
Speaker 2 (31:14):
Was just gonna say on that line. Hopefully in the
case of a decline, it'll tell liked I. If the
system declined, somebody doesn't tell that person and they still
have that no no chance to talk to somebody.
Speaker 4 (31:26):
It still all comes through us. But it's a refer
So that's the nice way of saying decline. But it's
a refern I'll give you reasons why. But it's probing
be too long. You're gonna be able to go direct
and get your own right result. I guess I don't
know that they're still making us be the point?
Speaker 3 (31:42):
Could you could you see a point?
Speaker 1 (31:46):
Could you see a point to where the mortgage funding
process doesn't take your typical thirty days or something where literally,
because of the technology just said, we're literally in a
matter of a couple of days, you're funded on your loan.
Speaker 4 (32:01):
John, we used to give you thirty to forty five days, right,
I had to send out male verifications and get them back. Yeah,
everybody wants fifteen to twenty twenty one days is kind
of almost now the standard.
Speaker 3 (32:12):
I mean that just put few days the technology.
Speaker 4 (32:16):
No, well right now, per you know trid it's ten
days the minimum of ten days. But yeah, so but
I think ten days, fifteen days is going to be
probably becoming kind of maybe the norm.
Speaker 3 (32:27):
I disagree. I bet you it'll be at some point
matter of hours or days. I really do.
Speaker 4 (32:34):
There's just there's points that the government has put into
play for you to be able to think about your
buying a law. You're getting a mortizone. Remember those people
in the eight o nine didn't know they were getting
a mortgasone.
Speaker 2 (32:44):
So yeah, but that And not to get off topic,
but I don't know I did you listen to the
interview this morning with the gentleman from black Rock, I
can't remember his name, but tokenized So to your point,
direct landing titles are token ized, like can all have
all this stuff? Could you can buy a house in
twenty four hours? Right exact once that process gets down.
Speaker 3 (33:05):
So get with the times, Millard, get with the times.
Speaker 2 (33:09):
I'm trying.
Speaker 3 (33:10):
I'm trying, all right, guys.
Speaker 1 (33:14):
Well, well we'll tackle the rest of this on Thursday,
and then a few more things on the commercial side
of AI in real estate. Great job, boys, we'll do
it to gainamar on the John Sanchez Show. God, let's
have a great afternoon.
Speaker 3 (33:23):
Dwight Millard n MLSID number two four one two five nine,
a license mortgage loan officer with Highlands Residential Mortgage Limited
and Equal Housing Lender n MLSID number one three four
eight seven one.
Speaker 1 (33:34):
The information shared on this live broadcast 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.
Speaker 3 (33:47):
All loans are subject to credit approval and program guidelines.
Not all applicants will qualify.
Speaker 1 (33:53):
Loan terms and availability may vary by state and are
subject to change without notice.
Speaker 3 (33:57):
Highlands Residential Mortgage Limited is licensed in multiple states.
Speaker 1 (34:01):
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.
Oh, Corey, the world of artificial intelligence AI, how it
plays into the world of real estate. I'm so anxious
to hear how you're utilizing it. I have a feeling
you're going to say, Aaron, Aaron, Aaron, Aaron a lot today.
Speaker 2 (00:14):
Aaron is my AI bought How do I do this?
Speaker 1 (00:18):
And he doesn't exactly exactly Well, all of you know,
of course, on Mondays we have my brother, doctor Dennis
Sanchez on we do an AI segment in regards to
solopreneurship and business and.
Speaker 3 (00:30):
Things like that.
Speaker 1 (00:31):
But I thought, you know, this is a time, Corey,
that we really need to be resurfacing. It's been probably
a month or so since we made any mention. I
think it may have been with Aaron in one of
your days that you weren't with us, and really bringing
this to the forefront, Corey, in regards to AI, how
AI is shaping real estate, you know, from home searches
(00:53):
to mortgage approvals. As Dwight will talk about, AI is
absolutely reshaping completely how Americans buy and sell real estate.
Today we're going to explore with Corey and Dwight how
AI is changing the game for buyers, for sellers, and
of course for lenders and what it means for the
next move. Corey, let me ask you this real quick
(01:13):
before I get to the stock market side of things today.
How prevalent are you seeing AI grow in the world
of real estate right now? I mean, I guess you
could kind of say before you answer, it started off
right when when the advent of Zillos. However, many years
that was a goal and so on, so for that
was kind of really the beginning of it. But are
you fascinated to see how fast it's it's it's it's
(01:35):
transpiring at this point.
Speaker 2 (01:37):
It's it's I think that there's a lot of it
behind the scenes of people don't realize Zillow's the main thing.
And back when that all started, we didn't even know
what I don't even know if there was a term AI, right,
you know, it's algorithms and they're doing this and that
now everybody can kind of do the same thing. We'll
get into a little bit. My next kind of integration
from that that I really caught my attention was the
virtual staging. You can take a house you have listed,
(02:00):
you can yeah, you can stage it in any you know,
realm that you want, which was pretty pretty interesting, and
so it's kind of like from the buyer side of it,
you know, buyers have preferences for this at the other
and not that the MLS doesn't do it, but it
almost creates kind of like that algorithm of it's going
to give you the choices that hit your top parameters,
(02:22):
and it's going to go out there and search those
for you and bring them back to versus you going
and search for them. I think the other thing too,
that article I sent you that I think you looked at,
was that yesterday or whenever? It was? The data centers,
Like we all think about, oh AI, what am I doing?
But AI in general is changing the face of real
estate from that side of it, from the commercial side,
(02:44):
the data centers. What's it doing for neighborhoods. I don't
know if you've caught that the very end of that
story where they talked about a big project in Reno
that was trying to change its zoning from residential to
commercial to bring in these data centers. So that story
was probably five or six months old. Just yesterday they
(03:04):
approved that change. They really, so now you're gonna have
massive data centers out north. There was going to be
five thousand houses. Now there's going to be a thousand
houses and millions of score for your commercial data centers.
Speaker 1 (03:16):
So they shrunk the footprint of the housing to make
room for the data center.
Speaker 2 (03:20):
Absolutely yeah. And so then you get into electricity, where's
the water coming from? How many jobs? So there's there's
ways it's changing real estate without you know that are
outside of the normal buyer seller, What am I doing
type of thing.
Speaker 1 (03:35):
Real quickly because you're on this and again this was
a fascinating story that you send and that was it
was done by NBC News.
Speaker 3 (03:42):
This was a national story.
Speaker 1 (03:44):
But locally, so the reporter was out in Tahoo Reno
Industrial Center, right, and they were going around with one
of Lance Gilman's top guys. I assume I don't know
the Guman, but fascinating to see because I've wondered that Corey.
It's like, you don't hear a lot about centers here locally,
and and the story proved absolutely wrong. There's from what
(04:04):
he's talking about, there's a bunch of them that are
coming right and and and always say, like you said
some going north of Reno. Obviously those are east of Reno.
I saw even in that story there was some what
almost in like almost I won't say downtown.
Speaker 2 (04:17):
But oh, it's downtown.
Speaker 3 (04:19):
It's a mile okay, I couldn't tell exactly from where
they were.
Speaker 2 (04:22):
It's just a mile west downtown where he was standing,
crossing the railroad tracks and so, and that was a
huge fight. I had a friend of mine who's a
water right attorney, so they'd been working on that for
I don't know how many years, and he was involved
because of the water right aspect of it, where you
you need water for the cooling of all these things.
And there's a huge fight going on, not just here locally,
(04:42):
but across the country. Can you put these data centers
in the middle of residential cities, you know, and the
zoning doesn't allow for it. But Reno, I don't know.
For Reno, well, we'll see if it's good or bad.
But they're kind of at the forefront of we're going
to allow it and it's an experiment. We'll see what happens.
Speaker 1 (04:58):
Right right, As a realistic broker, what's your opinion on that?
Do you think it can be mixed use like that?
Speaker 2 (05:04):
I'm sure. I mean, unfortunately, I was born and raised here, right,
so I remember when we didn't have all these big,
huge warehouses everywhere. So now you know, you have massive
warehouses everywhere. You go to Mount Ross Highwa which is
the most beautiful scenic part of this you know, little town,
and now they're putting massive warehouses everywhere. So you know,
is there a difference? Yeah? Probably, I don't know. It's
(05:24):
the future, right, so I guess we're gonna be going.
It's funny. So my son had a tournament in San
Francisco on Saturday, drove down Friday, woke up early Saturday,
drove you know, a city, so he could see things
like It's like, Dad, he's never been down there, Dad,
where's all the yards? All these houses? War I go,
They don't have yards. They build them on top of
each other like that is Yes, by the time you're
(05:45):
my age, this is what Renal's going to look like. Unfortunately,
so you better move.
Speaker 3 (05:49):
No, that's very true. That is very true. All right.
Speaker 1 (05:52):
Great pleasure to welcome Dwight Millard of Highlands Mortgage. Joanna's
great to.
Speaker 3 (05:56):
Be with you, my friend, Great to be with you.
Speaker 4 (05:58):
John.
Speaker 3 (05:58):
We were just talking about Dad Centers.
Speaker 1 (06:00):
That story that Corey sent us the other day in
regards to the data centers going on, you know in
our local area you know, north, south, right and downtown
and so on and so forth. And Corey just brought
up an excellent point that we'll expand on as we
get into our how AI's reshape in real estate of
how it is just not even you know, in regards
(06:21):
to your world do I as a lender, do I
Corey's world as a real estate broker? But just again,
these massive data centers going everywhere, the infrastructure needs that
are required, the power of the water, just everything. I mean,
I don't know, Corey, You're you're tied in pretty well
with a lot of commercial guys. Are is this like
the new you know, the new thing. Let's start building
(06:43):
data centers or or specking a land for data centers.
It used to be you know, the industrial centers, right
because everybody needs uh storage for their products for e commerce,
et cetera.
Speaker 3 (06:55):
It's like, I'm not hearing that anymore.
Speaker 1 (06:57):
From the institutional side, it's all data center, our data
sent is that is what you're hearing.
Speaker 2 (07:01):
Also, that is the hot spot right now. And so
as you mentioned too, yeah, they're specking it. So that
whole project we talked about, I don't know that anybody's
spoken for any of the dirt yet, but I'm sure
that we're going to spec build or spec develop some
large spaces for data centers. And when you listen to
all these guys and you listen to them all day long,
like I do, and it sounds like we're you know,
(07:24):
we're only a tenth of what we need and this
is going to last forever, which may or may not
be true, but if it is true, yeah, this is
this is the future. I mean, we're at the open space.
You have now kiss a goodbye because it's going to
be fulling data centers.
Speaker 3 (07:39):
Dwight real quickly.
Speaker 1 (07:40):
Before you get into the stock market side, you spend
a lot of time in Texas that that is almost
seems like the nucleus of data center construction. What do
you see when you go there and visit.
Speaker 4 (07:51):
I mean, just building after building after building anywhere that
there's a you know, I guess in access to the freeway.
You know, it's just amazing. Uh. And then around it
it's almost like they build this data center and then
the homes.
Speaker 3 (08:07):
Yeah, not the homes.
Speaker 1 (08:08):
You know, it's almost like it's like you build a
shopping center and build the uh the residential around it.
Speaker 3 (08:14):
That's a great point, Toy, that's a great point. Yeah. Yeah.
Speaker 4 (08:17):
So it's just it's and to course point, you build
it and it's gonna get it's gonna get filled. I mean,
it's just and they're massive, right, They're just massive.
Speaker 3 (08:26):
Yeah.
Speaker 1 (08:27):
Yeah, all I've seen this picture. I get to see
one in person. But yeah, the pictures are just staggering.
And the and the amount of I mean Caterpillar stock
has just been on a tear recently, and I wonder
how much of that is attributed to uh. I mean
you look at those construction sites and all you see
is a bunch of yellow iron out there. So someone's
buying a bunch of Caterpillar graters and dozers and everything else, excavators,
(08:47):
everything else that goes you know, with those those construction companies.
Speaker 3 (08:50):
Corey just got to be making a fortune. I would
think it just making and I would think.
Speaker 1 (08:55):
What I'm knowing that they're sorry to RepU what I'm
noticing this. There's a lot of construction company is now
that's all they're doing, right, I don't they started out
that way, but that is all they're doing. And a
lot of them are getting acquired by some major Wall
Street firms that want to control the whole ecosystem from
design build. I won't mention which Wall Street firm this is.
(09:16):
At this point, not only have they bought construction companies
literally around the world because these data centers, they're going
around the whole world. It's not just here in the US.
They've also bought a massive h back contractor right, because
they've got to be cool. I mean, to your point,
it's a whole infrastructure play, an entire infrastructure play.
Speaker 2 (09:32):
Well, it'd be interesting to see as this goes on,
maybe years, maybe decades, that footprint will probably shrink, right,
They'll get better at what the size needs to be
and the capacity And do you need a million square feet? No,
we can do with five thousand square feet what we
used to do with the million. So this whole thing
is just gonna it's got a lot of different, you know,
(09:54):
variants that will happen over the years.
Speaker 1 (09:56):
Well, I think what's gonna be interesting is when we
see little nuclear power plant. Sure, yeah, in our backyards,
because that's where they're going with this, at least at
this point. And there was one company came out the
other day and they're playing around with hydrogen technology right,
cheaper and so on and so forth.
Speaker 3 (10:12):
So who knows what it's gonna be.
Speaker 1 (10:14):
All we know, like you said, it's gonna take a
lot of water, it's gonna take a lot of power,
and as you know, time goes on, they'll figure out
ways to do it cheaper, faster, you know, smaller, but
with the same amount of output. Yeah, it's it's amazing,
absolutely amazing to watch this. So yeah, it's gonna be
a fun topic. We've never really got into this aspect
of it. All right, let's go and get the break
out the way we come back to tell you what
happened in the stock market today, How the president moved
(10:35):
the market again, Actually it wasn't him. Is this guy
called Jamison Career. He moved the market in a very
nice positive direction today. But we'll tell you all about
that and many more details than we'll get into our
topic with Corey do I how AI shaping real estate?
But first it's turned it over to the wonderful Christian
Snow in the right now traffic center. Hello Christen, Welcome
(10:58):
back to the John Sanchez Show one News Talk seven
and eightyh with a Corey individulity.
Speaker 3 (11:01):
To the white mallart of Highlands mortgage.
Speaker 1 (11:03):
All right, let's get to the mortgage sided and the
stock market side of things, and then we'll get to
our topic, how AI is shaping real estate?
Speaker 3 (11:11):
All right?
Speaker 1 (11:11):
Wild ride today had to say the least worst level.
We were down nearly six hundred points on the Dow,
but we clought our way back and finished with a
gain of two hundred and three. I'll tell you the
catalyst in a moment, zero point four to four percent increase,
Nazak can posit up one hundred and seventy or suit
me down one hundred and seventy two points three quarters
of a percent to a close of twenty twenty five
twenty one, SMP down ten points, just a fraction of
(11:33):
a percent, finishing the day at six thousand, six hundred
and forty four. All right, so we had a nice
rally yesterday, right. Trump made those comments after the true
social post on Sunday. We made the comments Sunday night
indicating once again China is going to be just fine.
All the algorithms took that as a positive comment, and
(11:54):
of course we rallied very significantly yesterday with the Dow
five hundred and eighty eight nas thatak grows four ninety
spup one hundred and two. Come in this morning, futures
look real good, looks like we're nice and solid. Things
are going just fine. And then all of a sudden,
the news comes out that we've got problems. Okay, back
to China, what are surprising? Overnight China sanctioned five US
(12:15):
linked subsidiaries of the South Korean Hanua Ocean Ship Company,
And this, all of a sudden brought back the whole
issue that Okay, now China is not only trying to
punish US with this tip for tat situation between President
She President Trump. Now they're going after countries that of
course deal with US, ie South Korea. So that sparked
(12:38):
a bit of a concern. In the pre market session,
we started selling off, and then about an hour after
this market opened, it just started plummeting and plummeting and plumbting.
We're like, oh boy, this is going to be a
repeat of Friday, right, China's at the forefront and here
we go. Then Jamison Greer, the US trade representative, came
out and said, I you know, things are really all
that bad. Matter of fact, kind of taking this, you know, uh,
(13:02):
Chinese can you will see what you know China is
gonna do on this whole thing. They're the ones who've
chosen this major escalation, you know, so on and so forth,
and the market took his comments to to, you know,
basically be fairly positive. And so all of a sudden, man,
this market rips higher, right, and hence we finished up,
like I said, strong, two hundred and two points on
the doubt. So there's much more to what Jamison Greer
(13:25):
had to say, but bottom line, he had positive comments.
Speaker 3 (13:28):
Now this is the bizarre one, guys. I don't know
if you guys saw this or not.
Speaker 1 (13:30):
So we get into after the close, and now we
come back to the president. Okay, the President now is
picking on China in regards to, of all things, cooking oil.
You heard me right, cookie oil. The President said his
(13:51):
administration is considering terminating business with China having to deal
with cooking oil and retaliation for Beijing refusing to US soybeans.
He said, China is committing an economically hostile act by
purposely not buying our soybeans, causing difficulty for our soybean
farmers in business with China. And cooking oil and other
(14:13):
elements of trade are possible forms of retribution that Trump
said he was weighing on. He said, as an example,
we can easily produce cooking oil ourselves. We don't need
to purchase it from China. That China, of course, has
been the top buyer of US soybeans. We've all been
following this story, top buyer of US soybeans up until
this year. They would buy, well, just last year, twelve
point eight billion dollars of soybeans. But amid with the
(14:37):
trade war between the two countries, they have not bought
a single American soybean going back to May. And hence,
why are US farmers, the hard working men and women
out there suffering the soybean farmers.
Speaker 3 (14:49):
Trump of course has indicated.
Speaker 1 (14:52):
His desire to give him some financial relief, but so
far none of that has happened at this point. But
I just found it kind of bizarre that, of all things,
you know, again, after the President on Sunday indicating don't
worry about China, it's going to be fine, Mark rallys yesterday,
then now we're coming back and we're arguing about cooking oil.
But that's where we set again, this is a very
(15:15):
very jittery market at this point. Everyone's just literally baited breath,
you know, not knowing what's going to come out of China,
what's going to come out of Washington in regards to
things that could affect the market, and then all of
a sudden, you know, here we are and we find ourselves,
like I said, in a very very volatile time period.
(15:35):
Let's go to the commodity side today, speaking of commodities,
sixty seven loss sent loss on oil fifty eight ninety
seven to borough. Another strong day for gold after what
one hundred and thirty two dollars right around there gain
yesterday if I remember correctly, we finished up thirty two
to seventy on gold, four thousand and sixty five to ten,
down three basis points, mister mallard, ten year treasury four
h two is our yield? How do we do on
the mortgage side of things.
Speaker 4 (15:56):
Yeah, we're not moving too crazy, John. I think last
week we're six point three five or something. Today we're
six point three one on the thirty or fixed. It
feels like we're just kind of waiting to see the
end of the month, you know, the FED meeting, the
fifteen year five point eight three, so we gained a
little bit, We got a little better there, and you know,
(16:17):
your your your FHA and your VA loans are right
there in the bottom of the sixes. So I would argue,
though when I look at pricing, we're probably slightly better
than what they're these are showing. Okay, yeah, well the
mortgage backed security market was a little stronger than your
treasury market today, so but it's still that little pesky
(16:38):
six point three six point three five, So I mean,
we need to get that down. You know, we're still
what twenty basis points higher than what we were that
Tuesday before the FED decrease. So I don't know. You
and I have gone back and forth and talked to
several times. What's going to break this? And I'm not
sure there's much out there. So it feels like everybody's
kind of dug in. These builders are kind of like
(17:01):
accepting there. Just the incentives aren't going away, right Corey.
I mean, there's everyone's gonna have to just keep pushing
the incentives.
Speaker 1 (17:08):
Yeah, yeah, well to the rate side of things, of course.
Jerome Palell did speak today at a conference, and nothing
really new out of the chairman's mouth.
Speaker 3 (17:20):
But I will share this with you, guys.
Speaker 1 (17:21):
I don't know if you had a chance to see
the latest CME FED watch tool in regards to the
probability of our next interest rate cut. The FED watch tools,
I indicated is the barometer that everybody looks at. But guys,
the street still has a peg pretty strong here. Right now,
we're looking at a ninety six point seven percent probability
as of today of an October rate cut. Ninety six
(17:43):
point seven percent, and December now is north of ninety
percent that I saw earlier this morning.
Speaker 3 (17:48):
So let's that change.
Speaker 4 (17:50):
So with those percentages, John, you think they've already got
a kind of the mortgage market has already kind of
got a price around it, right, I mean it was.
Speaker 3 (17:58):
Going to bring up.
Speaker 1 (17:58):
That's exactly right, Dwight, It's exactly right. Yeah, we know
how the bond market works. We know how the mortgage
market works, obviously driven by the bond prices. Yeah, it's
already priced it when you're when you're up in this
ninety percent plus range. Use it's fairly accurate as far
that it's going to happen. So yeah, they're they're already
pricing that.
Speaker 4 (18:14):
And I would have to believe that companies are countries
that are not real, you know, in a good space
with the US, like China. They're not buying bonds right now, right,
I can't imagine them. So, I mean, so there's a
collateral damage I guess to all the things that are
going on is, Hey, why would they help us out
(18:34):
in that arena? Right?
Speaker 1 (18:35):
Well, I don't know if you saw, but Pal made
a comment that you know, they're they're they're letting the
balance sheet of the FED just run offs. Right, Yeah,
that's not going to have a positive impact on mortgage
rates whatsoever.
Speaker 4 (18:46):
And we've been doing that now what five years?
Speaker 3 (18:48):
Four years exactly?
Speaker 4 (18:50):
Ninety five million or what is a billion?
Speaker 2 (18:52):
I don't even know anymore? Yeah, is it a million?
Speaker 4 (18:55):
Billion or trillion anymore?
Speaker 2 (18:57):
Right?
Speaker 3 (18:58):
Exactly? All right? Do I Well, thank you for that
mortgage update.
Speaker 1 (19:01):
When we come back, we're gonna get into our topic
how AI is shaping real estate. You don't want to
miss this With Corey Dwight turned over to Jack Sabian.
He's got news traffic and with her. Hey, Jack, welcome
back at the John Sanchez showing these talk seven eighty
koh with Dwight Millard of Highlands Mortgage Corey Edge of
Edge Reality once again a two oh three gain on
the down, lost one seventy three on the nails, deak
(19:23):
decline of ten on the s.
Speaker 3 (19:24):
And P five hundred.
Speaker 1 (19:25):
I should mention the strength of the dow side why
why was this so strong?
Speaker 3 (19:30):
Boy? Oh boy?
Speaker 1 (19:31):
It was a strong day for Walmart up in This
includes a little after hours movement up five and a
quarter percent for Walmart. Caterpillar twenty two dollars and seventy
one cent gain at four and a half percent. American
Express at three point five to nine, bottom of the
list in the video, and it's continuing to sell off
here it's down seven bucks right now. So see how
fast this AI trade can happen. Little disappointment. We had
(19:51):
really good earning these numbers out of Goldman Sacks and
JP Morgan, and they both suffered today. Goldman was down
thirteen dollars and twenty eight cents, JP down five dollars
and eighty nine cents. Really an interesting mixture of what
drove the strength of the dow. But that's why you
saw this weakness in the nastas again the video, did.
Speaker 2 (20:09):
You see mister Diamond's comment on the Cockroaches about the
story I told you on Thursday, No, about the bankruptcy
and kind of the weird stuff that was going on
in that big bankruptcy.
Speaker 1 (20:19):
Right before the show. Yeah, in regardless, Okay, to go
ahead and get you read it.
Speaker 2 (20:23):
I did in good and that's that's what you I think.
I was mentioned to you guys last week, like, man,
have you seen this bankruptcy, Like there's a bunch of
weird stuff.
Speaker 1 (20:30):
When you're talking to creet fram auto filters and yeah,
ankle wipers, et cetera.
Speaker 2 (20:35):
Ye, billions and billions and billions of dollars of off
balance sheet debt that nobody knew about and all these
banks and everybody's kind of I think there was a
big thing on Friday some of the there were redemptions
were coming into Jefferies, and Jefferies was getting hit because
all these hedge funds were trying to redeem anyway. Uh,
Jamie Diamond today was asked about and he goes, well, usually,
(20:57):
and you've said this before multiple times, John, or there's
one on cockroach, there's usually more, so be careful. So
very interesting.
Speaker 1 (21:04):
Yes, indeed, I'm an absolute firm believer in that, Corey.
I've seen it way too often over my career.
Speaker 3 (21:10):
Yeah, there's and that's the second we had.
Speaker 1 (21:13):
The other the the used Carlendar not long ago, following
the bank, y see, and that has a lot of
ugly tentacles that are out there because you just never
know who's involved, right, And again you get these banks
that you think would do their due diligence, but like
you said, you know they're.
Speaker 3 (21:28):
Lending on something that two other banks ahead of them
already lent on, and there's no collas out there, and
it's just yeah, it's.
Speaker 2 (21:34):
A it's a tough one, A tough one.
Speaker 3 (21:36):
Yeah, yes, indeed. And that's again this market.
Speaker 1 (21:39):
That's why I can move so much on you know,
just a little bit of news because that's stuff.
Speaker 3 (21:43):
Out there is lingering.
Speaker 1 (21:44):
All right, we're gonna get to our AI topic again,
how AI is reshaping real estate? Now we were talking
during the break and we need to do a show
on Corey maybe, well maybe Thursday we'll do that.
Speaker 3 (21:54):
Let's continue on the AI tem all week again.
Speaker 1 (21:58):
How ais you know, on a on a on a
commercial basis, and like you were talking about earlier, that
great inside in regards to the data centers here, locally,
et cetera. But today we're going to focus on the
residential side of things. So let's start off. We guys
put together about seven points of how AI is impacting
the residential real estate.
Speaker 3 (22:15):
Side of things.
Speaker 1 (22:15):
And Corey, let's start off with your first point, which
is the AI powered property searches.
Speaker 3 (22:21):
What's going on?
Speaker 2 (22:21):
So and it goes back again. It all started with
Zillow and his estimate and that kind of got the
whole ball roomin before we even had the acronym for AI,
but now everybody has it. And again, what it does
is and everybody's used. If you can go on and
put in your address, it's going to tell you what
it's worth, which is an algorithm in some form of
AI that's kind of aggregating the data. But you can
(22:42):
take it a step further and say, well, I would
really like this kind of house on this acreage with
tall grass and a couple of trees and whatnot, and
it will go out and do the work for you
and find it versus you flipping through a thousand pages
of listings yes to find the house. And as you mentioned,
it becomes kind of a teammate or business partner of
(23:02):
yours to go out and find these things, and you
can give a different search parameter, so that happens. I
don't even want to stay on a daily basis, John,
that happens every second. Right, these buyers are using it
now and every probably every listing agent, including myself. Now,
when we go out, let's say, if you call me
and say, hey, I want you to come out and
check out my property and I'm thinking about selling it,
(23:25):
I'm gonna do all my due diligence. I'm gonna pull
all my comms to all my stuff. But I'm also
going to go check a couple of the AI powered zestaments,
if you will, to see what they're saying, because I
know that's the information you're using. So I want to
make sure that my real life information is somewhat marrying,
or if it's not, that I can explain to you
why what you see on Zillo and riffing is different
(23:48):
from what's really happening.
Speaker 1 (23:50):
Okay, Corey, So I just as you were explaining that
you heard me typing, I apologize.
Speaker 3 (23:54):
So I just wanted to chat GBT.
Speaker 1 (23:56):
I said, please excuse me, please find a listing and
a ren under that for a home for sale under
a million dollars on one acre and at least four bedrooms. Okay,
I'm gonna press a search button right now. One, two, three, four. Ooh,
I think I stumped it thinking longer for a better answer.
Speaker 3 (24:12):
That's never a good one. Ah.
Speaker 1 (24:15):
Shoot, beat my point. That probably needed to be more specific.
But it's still thinking. But it'll it should come back
here in a second either say there's nothing there. And
now it's saying searching for a four bedroom opening Zilo listings,
refinding the search, so on and so forth, searching homes
and reading under one million with acreage, expanding the search areas,
(24:37):
searching for four bedroom aker property, searching MLS listings, searching
MLS listings for renal four bedroom property, pivotal search direction.
Now it's looking again for acreage listing strategy. It's now
talking about starting it again. It's just thinking, so what
are we Maybe twenty seconds now it's looking at the
in our MLS.
Speaker 3 (24:58):
What does that Corey link?
Speaker 2 (25:00):
Same thing, it's the MLS Northern, no matter regional. But
then think about too, as a buyer. You can go
in in a seller two school districts neighborhoods, crime on
this street. I mean it goes, it goes further than
just the house itself, but the living standards that are around.
You know, you can get into criminal activity and what
(25:20):
do they call it, the sex registry? Yes, exactly, all
kinds of stuff.
Speaker 1 (25:25):
Yeah, yeah, Okay, it's finding opening listenings. I won't see
what the address is finding more options. So okay, so
not as fast as I thought it would. But while
that's doing that, okay, So give me a real life
example for someone.
Speaker 3 (25:38):
Oh, here we go. Okay, here are two active real.
Speaker 1 (25:41):
Listings match under one million dollars, greater than less than
one acre and at least four bedrooms. So it just
gave me one address the listing price of seven hundred
and thirty four nine hundred four bedroom, three bath, twenty
three and seventy two square feet blah blah blah, gave
me the next one.
Speaker 3 (25:56):
It says, want me to narrow further, I e.
Speaker 1 (25:58):
Horse zone, pretty single story, specific school, garage count or
pull a few more options from the south suburban Galina
Verdai that's sit on.
Speaker 3 (26:06):
A full acre lots.
Speaker 1 (26:07):
I mean it's already knows you know, it's searching to
get outside areas, knows our outside ears like Verdi and
all that stuff.
Speaker 3 (26:13):
Right, It's sure.
Speaker 4 (26:14):
Yeah, it's amazing, and knows the questions to ask you
follow up questions. That's the scariest, the follow up questions.
I didn't even think of.
Speaker 1 (26:23):
Oh no, it will ask you. It will sit there.
I could sit here for an hour. It will keep
asking questions that you actually have to tell it at
least I do. Okay, I've got enough, right, because it
will dig so deep, you know, and anything you want. Well,
as Corey goes on real quickly before the next break,
I'm going to just say yes to to these additional questions.
We want me to narrow it further. So I'm just
(26:43):
going to say yes, We'll let it chug away here.
But Corey, let's go to the second point. You brought
up the smart pricing and predictive analytics. I love that
those two words, predictive analytics. Okay, let me stop. So
there it goes real fast now. Corey had just brought
up one, let's say, best price match found seven hundred
and ninetynine nine hundred four resime three bath twenty nine
hundred and twenty eight scare feet on one acre no
(27:05):
Hoa's rural field, decent access to freeways, status under contract.
This is probably your best bet right now. It says
that meets all your criteria. If that one falls through
her some more.
Speaker 3 (27:17):
Leads to monitor.
Speaker 1 (27:19):
That's given me four other leads similar to that, and
now it finally wraps up and says, if you like,
I can send you a five I can send you
five to ten live listings with photos, maps and cold
Spring South a Reno Verdi that exactly match four plus
bedrooms under an acre under a million an email alert setup.
Speaker 3 (27:37):
You want me to send those to you?
Speaker 2 (27:39):
Yes, I mean it is. Yeah, it doesn't take, and
it's it's kind of like like you mentioned the more.
He almost gotta be careful with the information you put
in because you may be limiting it too much, spending
it out too much.
Speaker 1 (27:52):
I mean, annoying the prompts, right, And that's hard in
and of itself that you have to what.
Speaker 3 (27:57):
To ask it.
Speaker 1 (27:58):
But yeah, to your point, it will sit there and
just keep going and going and going, and it will,
it will, it will do what you wanted to do.
It's I've had to stump it with all the different things,
and I'm on it, you know sometimes you know, fifteen
sixteen hours a day. Okay, my friend, when we come back,
we're in late as always. Let's go to a point
number two, Corey. This actually let's go to to number four.
Do I want to get this in on the mortgage
(28:18):
prier approval and of how AI is working on that,
and then we'll come back and back fill some of
the Cory's points.
Speaker 3 (28:23):
Dropping up with Christa snow right now traffic center.
Speaker 1 (28:25):
Hello, Christen, welcome back to the John Sanchez Show on
News Talk seven to eighty k O.
Speaker 3 (28:33):
It's mister Mallarde.
Speaker 4 (28:33):
Your phone number thirtain, Yes, sir, two four zero two
zero two two.
Speaker 2 (28:37):
Thank you, mister Edge six seven three six seven zero zero.
Speaker 3 (28:41):
Thank you, fellas.
Speaker 1 (28:42):
Okay, Dwight, let's go to we're jumping down to point
number four in our how AI is reshaping a real
estate and that is mortgage pre approvals in literally I
was gonna say minutes, but sometimes it can be seconds.
Speaker 4 (28:54):
Explain how they YEA, yeah, probably probably, well, you know it,
it's been coming for a long time and started with
let's go with quick end, which is now rocket you
know that which allowed you that was their whole platform,
right was consumer direct lending, you know, And so what
they've done is we've expanded since that. So a lot
of times people don't want to meet with us, especially
(29:15):
since the COVID days. Right, So we all have links
to go to my you know, application is simpler the better,
right right, right, and you and and all of a
sudden you get it, you John, At some point in time,
the agencies Fanny and Freddy are going to allow you
to go directly to them. I have to do it,
right because we have the contract with them. But once
(29:36):
they've completed it, I can get it, like you said,
in in minutes if it just imports credit. Now it's
only as good as what you put in there, you know.
But now they're getting better John, where they can actually
go and do a verification of your employment.
Speaker 3 (29:53):
All I was going to say, yeah, your.
Speaker 4 (29:55):
Your your savings, they participate, if your employer participates.
Speaker 1 (29:59):
Right, needs is your social right well they I mean
they can go out and crawl.
Speaker 4 (30:03):
In pretty much.
Speaker 2 (30:04):
Yeah it can.
Speaker 4 (30:05):
Yeah, there there are they call it. I think it's
a day one or whatever type of a program. And
if your company sponsors that, they can go pull your
employment information and put it in it. It's yeah.
Speaker 3 (30:17):
Do you guys ever get blown away like I do?
I just had it happen the other day.
Speaker 1 (30:20):
I forget what program was doing, but this were they
this personal love? Oh, I remember what it was. I
had to get something notarized and I used an online
notary and they do your your ID verification. But they'll
go back and go did you ever live at this address?
Do you did you ever drive this car? Have you
had that happen? Corey, have you ever gone to Yeah?
Oh yeah yeah. And it's like there's nothing quote technology
(30:43):
doesn't know about you, right, I mean, it's amazing they
knew what you know. One of the choices in knew
the vehicle that I drove when I went to Worster
in nineteen eighty one eighty two.
Speaker 3 (30:52):
Yeah, it's out in the world. Did you know that? Right?
Speaker 1 (30:55):
So to my point, to your point, it's like, well, geez,
you know, give you you put in your Social Security
number and it just crawls and does everything and issues
the approval, the decline, whatever the case is, and you know,
it just goes from there.
Speaker 2 (31:10):
Okay, hopefully it's still good.
Speaker 3 (31:13):
No, go ahead, No, I.
Speaker 2 (31:14):
Was just gonna say on that line. Hopefully in the
case of a decline, it'll tell liked I. If the
system declined, somebody doesn't tell that person and they still
have that no no chance to talk to somebody.
Speaker 4 (31:26):
It still all comes through us. But it's a refer
So that's the nice way of saying decline. But it's
a refern I'll give you reasons why. But it's probing
be too long. You're gonna be able to go direct
and get your own right result. I guess I don't
know that they're still making us be the point?
Speaker 3 (31:42):
Could you could you see a point?
Speaker 1 (31:46):
Could you see a point to where the mortgage funding
process doesn't take your typical thirty days or something where literally,
because of the technology just said, we're literally in a
matter of a couple of days, you're funded on your loan.
Speaker 4 (32:01):
John, we used to give you thirty to forty five days, right,
I had to send out male verifications and get them back. Yeah,
everybody wants fifteen to twenty twenty one days is kind
of almost now the standard.
Speaker 3 (32:12):
I mean that just put few days the technology.
Speaker 4 (32:16):
No, well right now, per you know trid it's ten
days the minimum of ten days. But yeah, so but
I think ten days, fifteen days is going to be
probably becoming kind of maybe the norm.
Speaker 3 (32:27):
I disagree. I bet you it'll be at some point
matter of hours or days. I really do.
Speaker 4 (32:34):
There's just there's points that the government has put into
play for you to be able to think about your
buying a law. You're getting a mortizone. Remember those people
in the eight o nine didn't know they were getting
a mortgasone.
Speaker 2 (32:44):
So yeah, but that And not to get off topic,
but I don't know I did you listen to the
interview this morning with the gentleman from black Rock, I
can't remember his name, but tokenized So to your point,
direct landing titles are token ized, like can all have
all this stuff? Could you can buy a house in
twenty four hours? Right exact once that process gets down.
Speaker 3 (33:05):
So get with the times, Millard, get with the times.
Speaker 2 (33:09):
I'm trying.
Speaker 3 (33:10):
I'm trying, all right, guys.
Speaker 1 (33:14):
Well, well we'll tackle the rest of this on Thursday,
and then a few more things on the commercial side
of AI in real estate. Great job, boys, we'll do
it to gainamar on the John Sanchez Show. God, let's
have a great afternoon.
Speaker 3 (33:23):
Dwight Millard n MLSID number two four one two five nine,
a license mortgage loan officer with Highlands Residential Mortgage Limited
and Equal Housing Lender n MLSID number one three four
eight seven one.
Speaker 1 (33:34):
The information shared on this live broadcast 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.
Speaker 3 (33:47):
All loans are subject to credit approval and program guidelines.
Not all applicants will qualify.
Speaker 1 (33:53):
Loan terms and availability may vary by state and are
subject to change without notice.
Speaker 3 (33:57):
Highlands Residential Mortgage Limited is licensed in multiple states.
Speaker 1 (34:01):
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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