November 18, 2025 • 36 mins
In today’s episode of The Jon Sanchez Show, we review the latest October home-sales report and examine the notable shifts emerging in the housing market. The discussion outlines whether prices are beginning to stabilize, how inventory levels may be changing, and what these developments could signal for both buyers and sellers as the year comes to a close. We also explore how these trends intersect with broader financial considerations often addressed in wealth management Reno, including planning strategies that relate to real estate decisions.
👉 Watch this episode on YouTube: www.youtube.com/@thejonsanchezshow
👉 To learn more about retirement planning and wealth management in Reno, visit: sanchezgaunt.com
Compliance Disclosure: This program is for informational purposes only and should not be considered investment, tax, or legal advice. The views expressed are those of the participants and may not reflect the views of Sanchez Gaunt Capital Management. Investing involves risk, including the possible loss of principal. Past performance is not indicative of future results. Always consult with a qualified financial professional regarding your individual situation before making financial decisions.
👉 Watch this episode on YouTube: www.youtube.com/@thejonsanchezshow
👉 To learn more about retirement planning and wealth management in Reno, visit: sanchezgaunt.com
Compliance Disclosure: This program is for informational purposes only and should not be considered investment, tax, or legal advice. The views expressed are those of the participants and may not reflect the views of Sanchez Gaunt Capital Management. Investing involves risk, including the possible loss of principal. Past performance is not indicative of future results. Always consult with a qualified financial professional regarding your individual situation before making financial decisions.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:03):
Okay, good Tuesday afternoon, to welcome to the John Sanchez
Show on Newstock seven to.
Speaker 2 (00:09):
Eighty k whit.
Speaker 1 (00:10):
It's a pole pleasure to be with you and a
poleasure to be with my co host around the horn.
We shall go the White Mallard of course of Highlands Mortgage.
Speaker 2 (00:18):
How are you, my friend?
Speaker 3 (00:18):
I'm doing fantastic, John, How are you good?
Speaker 2 (00:21):
Glad you're able to wrap up that call before the
show started.
Speaker 4 (00:25):
Multitasking, multitask quickly?
Speaker 3 (00:27):
Yeah, that's it.
Speaker 1 (00:28):
They always call it the best time, right Corey individual
Lettie big c How are you.
Speaker 4 (00:32):
I'm doing good, good, always good, good.
Speaker 2 (00:35):
Glad to hear it. Corey's mobile today.
Speaker 1 (00:37):
This is a great thing about technology broadcasting from the
front seat of his truck out hard working.
Speaker 4 (00:42):
I love it. I love it.
Speaker 1 (00:44):
And you were saying, you and I were chatting that
you're looking at getting that the mobile star link in
your truck.
Speaker 2 (00:49):
So I think for what you do, man, I could
not recommend it more.
Speaker 5 (00:54):
Yeah, And I think, like we were talking about the
little one and then can they have a little magnet
you can put on your truck and take a camp
and do whatever. And it's not I mean, they're not expensive, and.
Speaker 2 (01:03):
No they're not, they're not not one bit.
Speaker 1 (01:05):
No, we have multiple starlinks and different locations and things,
and yeah, there it's amazing technology. Have you guys seen
the Starlink rockets when they fly off of the launch
out of VanderBurg.
Speaker 4 (01:16):
Yeah, I haven't seen them launch. I've seen him fly
over my house and you're going, what.
Speaker 2 (01:22):
Coming from VanderBurg? Yeah, pretty amazing about it.
Speaker 6 (01:28):
Yeah, it's funny, John, how far we've come. Because Corey,
he's the one that kept me off BlackBerry. We'd go
golfing and his BlackBerry.
Speaker 3 (01:36):
Go off, go off, just the whole time.
Speaker 6 (01:38):
I go, I'm never going to get one of those.
And here he is, now he's going to Starling.
Speaker 1 (01:42):
There you go, Corey, I think, and I should get
the credit for that, do I. We we're the one
that's converted this man to technology.
Speaker 4 (01:48):
Right, it's not me, it's.
Speaker 3 (01:51):
You and somebody else come in.
Speaker 2 (01:52):
It's not me, yeh, we're all. Corey is our project
when it comes to technology. We're just trying to get
him up up to the current.
Speaker 5 (02:00):
I just remember the days when I would walk around
and Dwight would be honest phone on the speaker, yelling
at I'm like.
Speaker 4 (02:06):
Tight, you need to take it off. Speakers like my
my microphone doesn't work.
Speaker 5 (02:10):
I can only talk on speaker like where we'd be
at lunch, right in the middle of a restaurant.
Speaker 4 (02:14):
You gotta get that thing off.
Speaker 3 (02:15):
It is exaggerating these stories. He says that from files,
he's never seen me throw fire.
Speaker 4 (02:21):
I did too. You almost killed me. What the telephone was.
Speaker 1 (02:25):
It's almost like you've never been pulled over and giving
a ticket by NHP for eating.
Speaker 2 (02:28):
A cheeseburger and speed.
Speaker 3 (02:29):
That's right, right, that's right.
Speaker 2 (02:31):
Yeah, But I've grown up.
Speaker 3 (02:33):
I've grown up. We don't have that anymore. We would
you not do that anymore?
Speaker 5 (02:37):
You've grown up six sixty years later sixty one.
Speaker 1 (02:43):
Yes, indeed, we've all improved, that's for sure. Oh my goodness.
Alrighty boys, well let me tell you uh what we
have lined up?
Speaker 2 (02:50):
Everybody.
Speaker 1 (02:50):
We are this again one of my favorite times that
we get to do this each and every month, and
that's where we go through the local real estate data.
We're gonna tell you you know, how long it's taken
to sell a house our medium price, the amount of
inventory that's out there. But most importantly, besides the data.
The absolutely if you've never heard one of these reports,
the most valuable information is not what's on the report.
(03:11):
It's what these two gentlemen are able to share, right
Sometimes that they're seeing in the in the in the
field as we like to call it, is different than
what the report is showing. And most importantly, because they
are in the trenches each and every day many times,
what I've noticed over the years is you guys spot trends,
whether it's a good trend or a bad trend, sometimes
before the data, because again, this is going to be
(03:32):
October's data. I mean, here we are, November the eighteenth.
You know, in the stock market world, that's an eternity
real estate world, things can change in a you know,
two or three week time period. But overall, you know,
I think it's it's always just a great report for
us to kind of get a good gauge, good barometer
as to what's going on with our local real estate market.
So gonna be good stuff. Gonna be good stuff. Thank
(03:52):
you ast Edge for providing that. All right, Well, with
that said, let me get right into the stock market side, guys,
to save some time, because this was not good stuff today.
It started off as a is, a tough pre market session.
We were down about three hundred or so and I
started my updates at five twenty three and it just
continued to get worse throughout the day. Worst level we
were down, actually hit it a couple of times, down
(04:14):
over six hundred down the Dow Jones Industrial Average.
Speaker 2 (04:17):
So let me boil it down as.
Speaker 4 (04:18):
To what happened.
Speaker 1 (04:20):
Well, first, I'm going to tell you I just save this.
I'm going to tell you how we finished up. Finished
up with a loss of four ninety nine on the Dow,
one point zero seven percent to a close of forty
six ninety one. Now, as I lost two seventy five
one point two one percent, SMP down fifty five or
point eight three percent. So it was a combination of
a number of different things that happened. It started off
(04:41):
early this morning. I mentioned this on the show yesterday
along with Jason highly anticipated earning his report from Home Depot.
That report came out early this morning the pre market session.
It was not a good report. They missed on the
earnings for share estimate. They lowered their fiscal twenty six
earnings guidance. That route weighed on not only the stock
but also the kind of the consumer cyclical sector of
(05:03):
the market, and then of course a reminder that home
Depot is a big stock, it's a three hundred and
thirty six dollars stock, and it's a Dow component, So
that weighed on things that That was one of the
culprits that brought us down in the pre market session
and continued throughout the day. The stock finished down twenty
one dollars and fifty five cents, about a six point
zero two percent loss to three thirty six forty eight.
(05:24):
So that was factor number one, factor number two to
the weakness. Amazon stock finished down ten dollars and thirty
two cents four point four to three percent loss to
two twenty two to fifty five. They got a downgrade
from a roth Child's and Company. They downgraded the stock
from a bio rating to a neutral that is a
Dow component.
Speaker 2 (05:41):
Then we move over to the world in Navidia.
Speaker 1 (05:43):
After the close tomorrow, you know, we're all going to
be reading whether good news, either we're going to be
smiling or we're going to be crying after the company
releases their earnings numbers right after the close. Ahead of that, though,
stock by the way, is down about nine percent over
the last well the last three days, excuse me, last
two days this week to date, keep thinking that's Wednesday.
Today it was down five dollars and twenty three cents
(06:05):
two point eight percent loss to one eighty one thirty seven.
Peter Thiel, we heard yesterday that his fund liquidated at
all shares of Navidia, So that got everybody thinking, like,
what does he know that the rest of the world doesn't,
So that put pressure on that stock. Another Dow component
falling in sympathy today was Advanced micro Devices in the
(06:26):
semiconductor space four and a quarter percent loss, down ten
dollars and twenty three cents to two thirty twenty nine.
Micron thirteen dollars and forty five cent loss, down five
point five six percent to two twenty eight fifty.
Speaker 2 (06:37):
So once again, this.
Speaker 1 (06:38):
Whole AI trade valuations, et cetera, that I keep talking
about till I'm blue in the face each and every day.
I know you're tired of hearing about it. That is
what's affecting these stocks. Again, this could all change tomorrow
if Navidia comes out and reports numbers that are better
than what Wall Street's anticipated, then all this concern about valuations.
Speaker 2 (06:57):
Et cetera could go by the way. So that's why
this is a very important report.
Speaker 3 (07:02):
Uh.
Speaker 1 (07:03):
Let's see Luke Capital today they upgraded Google, so that
was a positive in the tech sector. Stock just wrote
fell just sixty four cents to ninety six. Let's see
United Health was another pressure of the downdown six dollars
in ninety four cents three thirteen fifty eight. Dwight, Let's
jump right over to the bomb market side of things today.
The CEME FED watch tool, hey, moved in your favor
(07:24):
a little bit, jumped up to an odd of fifty
one point one percent probability of a quarter percent cut
in December.
Speaker 2 (07:29):
That is an increase from forty two point four percent yesterday.
Speaker 1 (07:33):
So look at that, see dw I you didn't have
to do anything, just at the stock market fall and
the odds of a quarter percent cut go up.
Speaker 2 (07:39):
Yeah.
Speaker 3 (07:40):
And what was it? Is it?
Speaker 6 (07:41):
Paulson as a FED members? Am I getting it right?
That said in favor of rate cut in December?
Speaker 2 (07:47):
Yeah? I believe it was Pulsa.
Speaker 3 (07:48):
Yeah.
Speaker 6 (07:48):
So I mean, so your thirty year fixed rate later
or not unchanged? John six point three eight percent? I
mean we're just really sitting in this six three three
five range for ever since the Fed announcement, you know,
last month, So you know that I just don't I
don't see a lot of movement until it's like those
(08:08):
either that percentage goes up or goes down, right. I Mean,
it's just it's a tough market out there, and it's
it's really rough and when we get into the report,
we can get more in the trenches with it, but
it's just it's the bar is very, very fatigued, more
than I've ever seen.
Speaker 2 (08:24):
They just That's what I was just going to ask you. Yeah,
let's let's talk about this what again?
Speaker 1 (08:31):
As I said, this is the best part of when
we get into the real estate report.
Speaker 2 (08:35):
What's what's your gauge? What's your barometer? Do I of
the consumer? Right now?
Speaker 1 (08:39):
And before you answer, I just want to remind everybody
report after report that we're receiving, whether it's auto delinquencies rising,
credit card delinquencies rising, foreclosures rising, the consumer is strapped,
they're tapped, they're strapped, they're hurting right now right for
various various reasons. But do I they sit down in
front of you or over over a video call. Talk
(09:02):
to me about what you're seeing hearing from these people
right now.
Speaker 6 (09:05):
I think you know, John, the one word that comes
out as there's fear. They're they're they're afraid that either
their house won't sell, you know, I mean, they're got
their employment cut back, something's going to It's it's amazing
how they're now creating things that potentially could happen that
is affecting their decisions now. And it's it's hard to
(09:25):
watch because I mean, you know to chorus point last week,
you know, the other day they got he got his
health insurance dropped, and so he's scrambled. I mean, how
can you go effectively look for a house to buy
if now you don't know, no, his his health insurance
he was self employed, just like self his health insurance
(09:46):
got canceled.
Speaker 2 (09:47):
Oh I thought you said Corey, like Corey.
Speaker 3 (09:49):
Was talking about last week.
Speaker 6 (09:50):
Remember how he was talking about last that that and
so now how do you go buy a house when
you're uncertainty of your health insurance?
Speaker 2 (09:58):
Right right?
Speaker 6 (09:59):
And so he's I gotta pause it. And that's fear
is just everywhere right now. And I you know, we
are forever the optimist on this show and always have been.
But there's a lot of fear going on right now,
and it's.
Speaker 2 (10:11):
So, what's your advice to these people?
Speaker 1 (10:13):
Do you say, you know what, I think it's best
that you you hold off for a little bit, or
how do you cancel them? What's what's your advice of
the audience into your your clients.
Speaker 3 (10:21):
Well, I think it depends really on the situation.
Speaker 6 (10:23):
You know, if they really truly need to move and
there's a you know, Corey has said it before, he
has talked to borrowers or buyers into waiting, and yeah,
I mean, if if they don't need to do it
right now, there's no reason.
Speaker 3 (10:35):
To do it right now.
Speaker 6 (10:35):
I mean, if you you know, if you don't have
to move, then there's don't try to cram the square
peg in a round hole. And that's what they're trying
to do. And it's just it's really unfortunate, John, because
my heart breaks for some of these people because it's
a story inside of a story, and uh, you know,
I'm sure Corey hears them. And the biggest frustration right
(10:56):
now is selling an existing house just to move. They're
having people across the border having a hard time selling
houses you know, maybe it's a price thing, like Corey
always says, but you know.
Speaker 4 (11:06):
It's always price, right, Corey, absolutely, yep, always price.
Speaker 1 (11:10):
All right, Corey, when we come back from the break,
I want to ask the same question to you. Let's
get to your gauge of how the consumer is doing
at this point and see if it coincides with Dwight.
Speaker 2 (11:19):
I bet it probably will. Sure, all right, let's.
Speaker 1 (11:21):
Turn it over to Kristen Snow. She's in the right
now traffic center. Hello, Kristen, Welcome back to the John
Sancho Show on News Talk seven eighty koh with Corey
ingeviduality to White Mollard of Highlands Mortgage once again. We
finished down four ninety nine on the DOW, lost two
seventy five on the NASDAC, and decline a fifty five
on the SMP five hundred. On the commodity front, we
(11:44):
gained about seventy eight cents on oil sixty sixty eight
a barrel, down eight dollars and ten cents on gold
four thousand, sixty four dollars, and fifty cents per rounts
one basis point loss on the tenure out a yule
close of four to twelve, and as Dwight said, the
thirty year mortgage six thirty eight, Right, Dwight, big old,
you see change for the day. Okay, all right, So
we're going to get into our local real estate report.
(12:05):
We'll tell you about again Alan is taking to sell
a house medium price, all the things you need to
know to make an informed real estate decision. But as
I always say, the best part of this monthly segment
we do on the local real estate market is what
these two gentlemen share with us and are able to
talk to us about what they see going on in
their various businesses. Dwight is a lender, Corey is a
real estate broker. Dwight told us the consumer is hurting.
Speaker 2 (12:27):
Corey.
Speaker 1 (12:27):
Let's go to the same question to you. What's your
gauge of with the consumer, how they're doing at this point?
Speaker 5 (12:33):
They're stressed. I totally agree with Dwight. I don't know
if it's a panic or a low level fear, but yeah,
people are stressed out a because of the cost of living.
Even though they say inflation's coming down, which technically I
guess it is, they're still stacked on everything that's happened
over the last five years, whatever you want to call it.
Speaker 4 (12:53):
The prices.
Speaker 5 (12:53):
To Dwight's point, it's I don't think people have a
hard time selling a house. They have a hard time
selling a house at the price they need to get
to clear the debt. You know, you can always sell
a house, but in order to get out of it,
that stresses them out. And people are worried about losing
their jobs. I mean, we were talking about it on
the break. You hear about it like these these layoffs
(13:14):
are becoming a big thing. There was a I may
get this wrong, but I think the qr I report
this morning mentioned that the amount of layoffs coming per
that report is the biggest ever based on the history
of that report. And so even if you feel stable
in your job, if you have one of those entry
level jobs, you're probably feeling a little panic er.
Speaker 2 (13:34):
Now, well, I'm going to correct you.
Speaker 1 (13:36):
I disagree with you on just one aspect, which is
it's not just entry level jobs anymore, Corey. It is
any as we're discussing during the break. I mean, if
you don't mind, Corey, your son's going off to college
next year and your wife are going to sit down
and say, you know, is this really what you want
to do versus going into some type of a trade
or trade school or you know, Dwight, you said go
into medical. Right, some of your kids are into the
(13:58):
medical side, which all the those are great pieces of advice.
Speaker 2 (14:02):
According to your point. You know, we see. I mean,
let's let's just go back to Amazon. A few weeks ago,
fourteen thousand employees were let go that were in corporate finance.
Fourteen thousand.
Speaker 1 (14:15):
These aren't entry level positions most likely, right, And so
I think would I agree one hundred percent is yes, absolutely,
It's very tough if you're an entry level employee. And
we're all talking of course because of AI. But I
think anybody that sits behind a desk, Dwight and I
are at a big risk. Core you're not, because you're
you still physically, at least at the time being, need
(14:35):
to go out and physically show a house and things.
But those of us that sit behind a desk and
deal with you know, paperwork and things like that, those
are the professions that are at our risk. But you know,
I want to remind everybody please go back and listen
to to I want you to listen to two podcasts.
Speaker 2 (14:51):
Well, I'll say the one should listen.
Speaker 1 (14:54):
To our podcast every day, but go back and listen
to the podcast that my brother Dennis and I did
yesterday in regard to to AI and how to become
a solopreneur, folks, because again, the after we finished the
John Sanchez Show, we went over to an other studio,
Podcasters of America, which is where you can find the
(15:14):
roughly an hour long interview Dennis and I did together,
and I gave some examples of once again the power
of AI and why it can eliminate so many different
people that literally you can start a business as I
did over the weekend. You know, one of my businesses
I had to create a new marketing plan for and
(15:35):
I was done in a matter of an hour. In
the most remarkable marketing plan I have ever seen came
out of AI O to chat GPT and I'm going
to implement it. And so you look at this and
you go all these people that are losing their jobs
because of AI. But one thing that we have to
remind ourselves on is you can either and we say
this all the time on Mondays when Dennis joins us,
(15:57):
and that is you can either embrace AI or you
can try to fight it, and let me tell you,
it's like trying to fight the stock marketer, the FED.
You know, an old saying I was taught as a
very young broker, never fight the tape. Don't ever try
to fight AI, because it is going to win. And Corey,
you were saying you watched an interview with the founder
of Anthropic, a great sixty minutes interview, and so on
and so forth. I'd love for you to share with
(16:19):
the audience. But he said, you know, you're going to
have to expect ten percent unemployment. And I said, who's
been telling you, guys that I've said that for the
last couple of months, We're going to be that is
going to be our norm eight to ten percent unemployment.
And so, folks, either you got to embrace it and
get into the world of entrepreneurship or retrench and retrain
(16:40):
yourself to make yourself valuable, because just look at your job.
It's a really simple test, really simple I'll call it
a litmus test, and that is look at your job
and go, you know what, if I wasn't sitting here,
could a computer do it. I'll give you, guys a
prime example, just a prime example that just happened to me.
About an hour ago, my wife called her a local
Toyo dealership because we need I have a you know,
(17:01):
Toyota Tacoma and to get an oil change. She comes
storming into my office and she goes, you're not gonna
believe this. I said, what She goes, I just called
Toyota to make disappointment. She goes, I just had a
conversation with a chatbot, so they recognized her number when
she called. The chap bot picks it up and goes, well,
they thought it was my number because you know, it's
(17:23):
kind of my account, and the chapbok goes, hey, John,
how are you today? What can I do for you?
And she says, you know, we'd like to get an
oil change. No problem, Well I can tell this isn't John,
this is Megan. So you know what, Megan, when do
you want to come in for an appoyment?
Speaker 2 (17:35):
She said. I went on to this entire conversation like
I was talking to a human being.
Speaker 4 (17:40):
It was.
Speaker 1 (17:40):
It was it was friendly and knowledgeable. And as soon
as she hung up, because it took her about five
minutes to walk into my office, here comes the email
confirmation just confirming your oil change. This Thursday at nine
thirty in the morning. That's where it's going, guys, that's
where it's going. And that's why as much as that
pins me, God knows, I don't want to see anybody
lose their job. But we are at a transition in
(18:02):
our life in mankind unlike anything we've ever seen before.
And all I can tell people is what you guys
are feeling and seeing in the in the with your clients.
We're different right where most of our clients are in
or near retirement, so we're not hearing a lot of
things you guys are with people still working. But it
is terrifying out there. But you've got to sit back
(18:22):
and you've got to do some someh like I said,
some retrend sing or you know, join the club and
we'll show you how to become a solopreneur.
Speaker 2 (18:30):
Because let me tell you, that's the bright side of AI.
It can. It can get you into business in a
matter of hours. It really can. I literally, guys, And
I'm going to do this one of these days.
Speaker 1 (18:39):
I'm gonna I'm gonna take a bunch of names, We'll
build up a big list, and I'll randomly select one
person off of this list Bailey Marie please join us
real quickly as the marketing director and producer of the show.
Let's see if she jumps on here. Now looks like
she's tied up.
Speaker 6 (18:55):
Uh.
Speaker 2 (18:55):
Anyways, I think that'd be a great idea, don't you. Guys.
Speaker 1 (18:58):
We'll take a bunch of names, get a couple hundred names,
we'll draw one name out and maybe on the air,
we'll create a business using AI and show you how
fast it can be done. I mean a full blown marketing,
financial you name it, plan everything you need to get
into business. I can show you within an hour, two
hours at the very most.
Speaker 2 (19:16):
To do that.
Speaker 1 (19:18):
Absolutely, it's this is the way we gotta do it,
but quite real quick before we go to break. You
said you watch this on sixty minutes. I'm gonna watch
it tonight because I missed it with this interview with
Anthropic just today they were in the news or they're
now valued at three hundred and fifty billion dollars. They
just got a big investment deal with Microsoft in the video,
so chime in real quickly with the gentleman.
Speaker 5 (19:39):
This EEO had to say, Yeah, and if people don't
know the company, it's a competitor to chat GBT. As
a matter of fact, the guy used to work there.
He's one of their engineers and he started his own
and their product is Clawed. A lot of people know
the name Claude. But it was just it was fascinating
to listen to the man talk about what it is,
what it does, the fact he doesn't think that ten
percent in the playing and it is too far in
(20:01):
our future. But then to listen to them talk about
how this is a living thing and they don't know
what it'll do on day to day, and they've had
instances where it tried to blackmaw an employee because they
knew they were going to go to the next version,
or they had a real instance where I think it
was North Korea had hacked into the system and was
trying to mess with it to go against other countries,
And it was an It was an eye opener, not
(20:24):
just from the jobs front, but from the front of yeah,
these things kind of can carry on a life of
their own and nobody really knows where they'll go. Ten
percent might be a happy number of unemployment based on
what we know. So times are changing.
Speaker 1 (20:38):
Times are changing, They really are already. Folks will come
back and we'll get into our local real estate data.
No AI here, it's all human beings, I promise you that.
But at some point it's gonna be AI replacing all
this on the radio. I have a feeling, but no
one can replace Coryan Dwight's personality. I just I don't
see that and Dwight's good looks especially, I mean there's
no there's no AI bought out there.
Speaker 2 (20:57):
As handsome as Dwight. Mollart is.
Speaker 1 (21:00):
Turn it over to Jack Saban. Speaking of handsome, he's
going to give us news, traffic and weather. Ajack, Welcome
back to the John Sanchez Show one News Talk seven
eighty koh O with Corey Inevitrility to Wi Mallard of
Highlands Mortgage. A four ninety nine declined on the Dow,
down two seventy six on the NASDAC today, pulling back
fifty five on the SMP five hundred market valuations. Home
(21:20):
Depots earnings and you know, guys, right back to I
should have mentioned this one. I went over again home
Depot's performance and how it was one of the big
drags of the Dow, with you know, losing six point
zero two percent, down twenty one dollars and fifty five
cents to a close of three thirty six forty eight.
This ties in exactly as you guys are saying. I mean,
I look at home deep. I don't know if you
guys do, but definitely a great barometer of the health
(21:43):
of the consumer, right Corea goes into you shared stories
over the years from when during COVID and you'd go
you said, yeah, I just went and paid was it
six eight dollars for a two by four that normally
cost about three bucks to It's just a great gauge
you know what's going on in the housing market, remodels
and the consumer in general.
Speaker 5 (22:03):
Well, and if I heard it correctly, the home Depot
call alluded to the fact that the remodel boom has
slowed down, is either slowing down or has completely come
to a stop, which is why their earnings were down.
And I was thinking about that, thinking Americans love to remodel.
I mean, it's not uncommon to remodel three, four or
five times a year because I love doing it until
you get to the point where you're not sure if
(22:24):
your income can afford another remodel. So to me, that's
that's a consumer confidence issue.
Speaker 1 (22:30):
Right, Yeah, definitely back to the consumer confidence, Dwight, your
you and other lenders. You're you're you're kind of the
nucleus of a of a significant remodel, right where they
come to you and get a helock that type of thing.
What do you see in there is that is that
business slowed down at all? Still active? What's what's kind
of status?
Speaker 6 (22:48):
I think the inquiries I'm getting for and you know,
these it's amazing junk because these companies that offer helocks
are getting very aggressive.
Speaker 3 (22:57):
I'm getting locks.
Speaker 6 (22:58):
Yeah, lots of email, but and the and the guidelines
are actually changing in the favor of the consumer. But
most of the inquiries now I'm getting are to consolidate.
Debt has nothing to do with yeah, so it's more
debt consolidation than anything. So it kind of go along
with our theme right now. You know, the consumer just
is stretched. Anytime they get a break, they're going to
(23:20):
try to unwind some.
Speaker 3 (23:22):
Of that debt.
Speaker 2 (23:22):
Yep, that makes sense.
Speaker 1 (23:26):
All right, Well, let's se if we can go back
to one of the piggy banks for a lot of people,
and that is the equity in their home. How are
things going if you want to buy if you want
to sell, let's bring you up to data, the latest
data from the month of October.
Speaker 2 (23:36):
Okay, mister edge, here we go.
Speaker 1 (23:39):
We'll start off with our again, the most important thing
that everybody likes to know, and that is what the
heck is the medium price right now? So you're showing
me five ninety five up two point eight percent from September,
up only one point nine percent from October of last year.
That's not a good number, my friend, I can't remember
last time we've seen that slowly.
Speaker 5 (23:58):
Ye, no, no, but if you think about it, it's
it's levitating, which levitation isn't too bad depending on if
you're at the right level. So remember this is Washoe County,
Reno sparks, stick built homes, nothing new, five ninety five.
I'll tell you, John, I don't want to give away
the the surprise in the report, but there isn't any surprise.
(24:22):
It's kind of a boring report. But I was pleasantly
surprised to see the price stick to where it was
and levitate here given really thanksgivings next week, if that
makes sense. So yeah, so, because usually we see a
pretty decent drop. So that's the way I looked at
it absolutely.
Speaker 1 (24:37):
Okay, that's interesting, all right, yeah, all right, Do I
have any comments on the medium price five ninety five?
Speaker 3 (24:42):
Now I agree one hundred percent of Corey.
Speaker 6 (24:44):
I would have expected to be slightly less and rebound
down the line.
Speaker 3 (24:47):
But yeah, I guess that's it's a good it's a
win right now.
Speaker 1 (24:51):
All right, let's move under our closed sales four hundred
and one. Closed sales down two point two percent month
over month, down three point one percent year over year.
Speaker 5 (25:02):
Again, if you're looking a month over month even year
over year, these things are just kind of streamlined. We've
had a little bit of ups and downs through the year,
but they've all kind of stayed steady.
Speaker 4 (25:11):
So four oh one for.
Speaker 5 (25:12):
October, coming into the holidays and slow down's that's not
too bad.
Speaker 4 (25:16):
Really. I wasn't.
Speaker 1 (25:19):
Feeling you're gonna be saying leaning towards this optimistic side
throughout the rest of this report. So I'll jump right
to the question, is this a good tell tale sign
that we could be in for a good spring season
if it's already you know here we are in the
slow time.
Speaker 5 (25:38):
I don't know, because to me, Dwight and conform it, Deny,
we had a bad springing. I didn't think the summer
was that great at all. So now we're just holding
those numbers. So because I mean you're holding good numbers,
you're holding bad numbers. It's kind of state here what
I did. I didn't send you guys as the report,
but I looked this closed sales number. I went all
the way back I think to twenty fifteen or six
(26:00):
team right in there to see where're usually at, because
we've been talking about it lately. Our average monthly sales
UH in nineteen, in seventeen, eighteen and nineteen, we're about
seven hundred and eight hundred, to give you an idea
of where we are now. And so post COVID now
we're down at Yeah, we're down if you look at
(26:21):
it that way. We only do fifty percent of the
business we used to do prior to all this stuff.
But the price is up one hundred percent.
Speaker 1 (26:30):
So I don't think you've ever shared that stat. We're
only doing fifty percent of the amount of business. What
does that tell you?
Speaker 5 (26:38):
It tells me what Dwight and I know, and Richard
Lace knows and Chad Over at the time, Now everybody
knows that the amount of activity on transaction volume is
way down, but because of this massive run up and prices,
everything kind of stayed a little bit status quo, if
you will. But it makes it incredibly hard for a
buyer because that buyer has less to choose from, and
(27:00):
they got to pay double for what they do choose.
Any incomes haven't stayed up. That's that same old story
we've been talking about. But I thought that was an
interesting No.
Speaker 2 (27:08):
That is, that's very number.
Speaker 4 (27:09):
I'll have to send you the graph.
Speaker 2 (27:10):
Yeah, please.
Speaker 6 (27:11):
I think what what breaks the damn John is if
you get more inventory. You know, Cory's always said it,
you get more inventory, these numbers are going to start
favoring that the buyer, you know.
Speaker 3 (27:22):
I mean there are areas of this country.
Speaker 6 (27:24):
Right now that are way buyer heavy right now, you know,
in the you know, so it's kind of an odd
Reno's kind.
Speaker 3 (27:30):
Of we've always talked about a buyer's.
Speaker 6 (27:33):
It's a buyer's market, yeah, and so Reno's always kind
of had this little bit of a bubble and it's
kind of showing itself right now because a lot of
large part of the country is a buyer's market right now,
heavily and so it's uh, these are good I think
solid numbers.
Speaker 3 (27:48):
To Corey's point, considering.
Speaker 1 (27:51):
Well, you were saying, you know, we need more inventory.
But I want to give kudos to you, do I
You've been you've been preaching this for months, which is
when we talk about what are the sleution to the
lack of inventory, and you're saying, John, we need a
portable mortgage. And sure enough, the Trump administration is now
talking about somehow, some way creating a portable mortgage where
again you could go from your current whatever three three
(28:13):
and a half, your low mortgage and move that over
to the new house and so on and so forth. Very
much in the infancy stage, but hey, it's a bright spot.
At least start talking about doing something.
Speaker 3 (28:23):
Well, we talked about it last week. Even the fifty
throughout Yeah, better than the fifty line, the.
Speaker 6 (28:27):
Fifty year mortgage and different things. But you know they're
going back to the holiday now on the on the
capital gains, you know, they're talking about that again. You know,
if you want to sell an investment property, you know,
now they're talking about those type of things, John, So
it is at least they're talking about it.
Speaker 1 (28:43):
Yeah, you know, at least we're talking exactly, all right,
Coreidle squeeze, and one more before we go to break
Meetian days to contract thirty five days, down twelve and
a half percent month over month, up twenty point seven
percent year over year.
Speaker 2 (28:54):
Yeah, not a real importance stat.
Speaker 5 (28:55):
Right, Yeah, no, but it interesting that again in the
month of October, thirty five days is from the day
it goes active to the day goes pending on our
MLS system. So for that to be down twelve percent,
so September to October, I wouldn't have thought that. I
would have thought it would go up because that's normally
what it does. So it means people are moving faster
(29:16):
for whatever reason in October to get these houses in contract.
Speaker 1 (29:20):
Okay, perfect, Maybe to try to get in there before
the holidays. All right, guys, we'll continue on our report
of our local real estate data for the month of October.
Speaker 2 (29:26):
Let's wrap it up with Kristen snow right now Traffic Center.
Speaker 1 (29:28):
Kerr Riston, Welcome back to the John Sanchez Show, one
News Talk seven to eighty K which mister Corey individuality
your phone number.
Speaker 4 (29:37):
Saw six seven three six seven zero zero, mister.
Speaker 3 (29:40):
Millard two four zero two zero two two.
Speaker 2 (29:43):
Great job, fellas.
Speaker 1 (29:44):
All right, we're going through our local real estate data
and once again just to recap so far, our medium
price in the month of October. This is all October's
data five hundred and ninety five thousand, up two point
eight percent month over month, again of one point nine
percent year over year. Closed sales four hundred and one
down two point two percent month over month, down three
point one percent year over year. Medium days to contract
thirty five days, down twelve and a half percent month
(30:05):
over month, up twenty point seven percent year over year.
Not much budget on this one, Corey. LI price received
ninety eight and a half percent three tenths of a
percent increased month over month, down one tenth of a
percent year over year.
Speaker 4 (30:18):
Yeah, that number doesn't move that much at all, So nothing.
Speaker 1 (30:21):
The lid there, ye, Medium sold price per square foot
three hundred nineteen dollars, just to two tenths of a
percent increase month over month, up one percent year over year.
You know, I'm really surprised on this one, Corey, that
we're not seeing inflation kicking in. You know, I would
have thought we'd see a bigger price increase on that one.
Speaker 5 (30:38):
Well, well, I mean the house was will only sell
for what they'll sell for, right, Like, I'm sure people
would love to have a higher number and get a
higher price per square foot, but they only get what
they get.
Speaker 2 (30:48):
So okay, all right, a number of new listings. This
is interesting.
Speaker 1 (30:53):
Four hundred and twenty seven new listings month over month,
an increase of five point two percent, but down nine
point nine percent year over year.
Speaker 5 (31:00):
Yeah, not a crazy number. Again, closing about four hundred,
adding about four hundred. This market just kind of keeps
regurgitating the same numbers month after month. Unfortunately, it was
the same numbers through the spring and summer, which should
have been much much higher. And so it's not again
I'm gonna selling a broken record. That is not a
bad number for October. We'll see what November does. But
(31:21):
that's not a bad number for October.
Speaker 2 (31:23):
Okay, good, Let's see our active inventory.
Speaker 1 (31:26):
One thousand and three homes for sale, down four point
six percent month over month, down one and a half
percent year over year.
Speaker 2 (31:34):
Boy, no one's in a big hurry, are they.
Speaker 5 (31:36):
No, And that we'd have to look back at the
last two or three reports. But I think that's the
first time we've had a lower active inventory month over
month in a while because it's been increasing, so that
that may have something to do with holidays. People aren't
usually going to list their houses in October. It's typically
a horrible time October, November, December, so that one's not
super surprising, but it does help out. That doesn't help
(31:59):
the buyers, it does help there's less.
Speaker 1 (32:00):
Competition Duaight to Corey's point, where again you don't see
a lot of people listing their homes for sale and
the holidays, do you you deal with a lot of
home developers, the nationals and not national but developers in general.
Do you see them offering more incentives this time of
year to generate those sales one percent, one hundred percent.
Speaker 6 (32:23):
Yeah, they're they're trying to get them, and they do
it actually monthly, but then they do the big year
in let's we got to clear everything off.
Speaker 3 (32:29):
So it's a it's a push.
Speaker 6 (32:30):
It's a they're coming up with Christmas packages and New
Year pack you know, they're all sorts of packages that
throw in you know, dishwashers and washing machines and refrigerators
and blinds and yeah, so it's a it's definitely a push.
I think, and it's always been like that, but it's
it seems more aggressive right now.
Speaker 1 (32:48):
All right, boys, let's wrap it up with the very
important number of the month's supply of inventory. Two and
a half months of inventory Corey down two point four
percent month over month, up one point seven percent year
over year.
Speaker 5 (32:59):
Yeah, that's an inventory, I mean, higher than we've had
over the last couple of years. It's been steadied pretty
much all year, so it gives the buyers some options.
The inventory coming down isn't surprising again going into the holidays,
so as I mentioned, not to be a downer, but
the whole report's kind of boring. But depending on how
you look at it, boring is good in this case
because you didn't fall off a cliff.
Speaker 4 (33:20):
Nothing bad happened.
Speaker 5 (33:21):
I doubt anything bad is going to happen over the
next couple months unless I don't know, Unless something bad happens,
I guess, but I don't see it right.
Speaker 1 (33:29):
Right exactly, Dwight, we got about a minute left. I
want to wrap up with you. You spend a lot
of time back in the in the Austin, Dallas, et
cetera area of the country, and you were just saying
during the break, you're now seeing brand new brick homes
in what the two thousand square foot range now below four?
Speaker 6 (33:50):
Yeah.
Speaker 4 (33:50):
Yeah.
Speaker 6 (33:51):
The unfortunate part to that, John, is the property taxes
compared to like a northern Nevada are significantly higher. But
I mean, it's just lots of lots and lots of
properties to look at, and so it's amazing what they
can build them for.
Speaker 3 (34:07):
I mean, it's just I.
Speaker 1 (34:08):
Don't and you said, you're hearing again this, I haven't
researched this, so I'm going to say it's quote a
rumor from you or that you're hearing that boying maybe
looking to going to Lubbock say that.
Speaker 6 (34:21):
I've heard it from a couple of different people. But yeah,
it's just I can't validate anything. But yeah, no, you know,
it'd be one of those hot markets if they It
makes sense kind of multiple ways.
Speaker 2 (34:31):
But yeah, yeah, that was just a rumor.
Speaker 3 (34:33):
I've heard three times from three different people.
Speaker 2 (34:35):
So no kidding. And you are you obviously see a
lot of data centers going on around there too.
Speaker 3 (34:39):
Right everywhere? Massively massive?
Speaker 2 (34:42):
Yeah, yeah, massive centers with twenty employees.
Speaker 4 (34:45):
Right, awesome, It's just what we need. A lot of robots, a.
Speaker 2 (34:49):
Lot of robots.
Speaker 1 (34:50):
Corey was that sixty minute segment on Anthropic? Was that
this last Sunday? Yes, okay, yeah, you should plan that
on YouTube. All right, boys, Hey, boring is good. We'll
take We'll take boring absolutely, no.
Speaker 2 (35:01):
Doubt about it.
Speaker 1 (35:02):
Great job as always, Fellows to appreciate you. We'll do
it again tomorrow on the John Sanchez Show. Goub Let's
have a great afternoon.
Speaker 2 (35:11):
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 nmlsid Number one three four
eight seven one. 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
(35:32):
license mortgage professional for guidance tailored to their specific situation.
All loans are subject to credit approval and program guidelines.
Not all applicants will qualify.
Speaker 1 (35:41):
Loan terms and availability may vary by state and are
subject to change without notice.
Speaker 2 (35:46):
Highlands Residential Mortgage Limited is licensed in multiple states.
Speaker 1 (35:49):
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 Highland's Residential
Mortgage Limited
Okay, good Tuesday afternoon, to welcome to the John Sanchez
Show on Newstock seven to.
Speaker 2 (00:09):
Eighty k whit.
Speaker 1 (00:10):
It's a pole pleasure to be with you and a
poleasure to be with my co host around the horn.
We shall go the White Mallard of course of Highlands Mortgage.
Speaker 2 (00:18):
How are you, my friend?
Speaker 3 (00:18):
I'm doing fantastic, John, How are you good?
Speaker 2 (00:21):
Glad you're able to wrap up that call before the
show started.
Speaker 4 (00:25):
Multitasking, multitask quickly?
Speaker 3 (00:27):
Yeah, that's it.
Speaker 1 (00:28):
They always call it the best time, right Corey individual
Lettie big c How are you.
Speaker 4 (00:32):
I'm doing good, good, always good, good.
Speaker 2 (00:35):
Glad to hear it. Corey's mobile today.
Speaker 1 (00:37):
This is a great thing about technology broadcasting from the
front seat of his truck out hard working.
Speaker 4 (00:42):
I love it. I love it.
Speaker 1 (00:44):
And you were saying, you and I were chatting that
you're looking at getting that the mobile star link in
your truck.
Speaker 2 (00:49):
So I think for what you do, man, I could
not recommend it more.
Speaker 5 (00:54):
Yeah, And I think, like we were talking about the
little one and then can they have a little magnet
you can put on your truck and take a camp
and do whatever. And it's not I mean, they're not expensive, and.
Speaker 2 (01:03):
No they're not, they're not not one bit.
Speaker 1 (01:05):
No, we have multiple starlinks and different locations and things,
and yeah, there it's amazing technology. Have you guys seen
the Starlink rockets when they fly off of the launch
out of VanderBurg.
Speaker 4 (01:16):
Yeah, I haven't seen them launch. I've seen him fly
over my house and you're going, what.
Speaker 2 (01:22):
Coming from VanderBurg? Yeah, pretty amazing about it.
Speaker 6 (01:28):
Yeah, it's funny, John, how far we've come. Because Corey,
he's the one that kept me off BlackBerry. We'd go
golfing and his BlackBerry.
Speaker 3 (01:36):
Go off, go off, just the whole time.
Speaker 6 (01:38):
I go, I'm never going to get one of those.
And here he is, now he's going to Starling.
Speaker 1 (01:42):
There you go, Corey, I think, and I should get
the credit for that, do I. We we're the one
that's converted this man to technology.
Speaker 4 (01:48):
Right, it's not me, it's.
Speaker 3 (01:51):
You and somebody else come in.
Speaker 2 (01:52):
It's not me, yeh, we're all. Corey is our project
when it comes to technology. We're just trying to get
him up up to the current.
Speaker 5 (02:00):
I just remember the days when I would walk around
and Dwight would be honest phone on the speaker, yelling
at I'm like.
Speaker 4 (02:06):
Tight, you need to take it off. Speakers like my
my microphone doesn't work.
Speaker 5 (02:10):
I can only talk on speaker like where we'd be
at lunch, right in the middle of a restaurant.
Speaker 4 (02:14):
You gotta get that thing off.
Speaker 3 (02:15):
It is exaggerating these stories. He says that from files,
he's never seen me throw fire.
Speaker 4 (02:21):
I did too. You almost killed me. What the telephone was.
Speaker 1 (02:25):
It's almost like you've never been pulled over and giving
a ticket by NHP for eating.
Speaker 2 (02:28):
A cheeseburger and speed.
Speaker 3 (02:29):
That's right, right, that's right.
Speaker 2 (02:31):
Yeah, But I've grown up.
Speaker 3 (02:33):
I've grown up. We don't have that anymore. We would
you not do that anymore?
Speaker 5 (02:37):
You've grown up six sixty years later sixty one.
Speaker 1 (02:43):
Yes, indeed, we've all improved, that's for sure. Oh my goodness.
Alrighty boys, well let me tell you uh what we
have lined up?
Speaker 2 (02:50):
Everybody.
Speaker 1 (02:50):
We are this again one of my favorite times that
we get to do this each and every month, and
that's where we go through the local real estate data.
We're gonna tell you you know, how long it's taken
to sell a house our medium price, the amount of
inventory that's out there. But most importantly, besides the data.
The absolutely if you've never heard one of these reports,
the most valuable information is not what's on the report.
(03:11):
It's what these two gentlemen are able to share, right
Sometimes that they're seeing in the in the in the
field as we like to call it, is different than
what the report is showing. And most importantly, because they
are in the trenches each and every day many times,
what I've noticed over the years is you guys spot trends,
whether it's a good trend or a bad trend, sometimes
before the data, because again, this is going to be
(03:32):
October's data. I mean, here we are, November the eighteenth.
You know, in the stock market world, that's an eternity
real estate world, things can change in a you know,
two or three week time period. But overall, you know,
I think it's it's always just a great report for
us to kind of get a good gauge, good barometer
as to what's going on with our local real estate market.
So gonna be good stuff. Gonna be good stuff. Thank
(03:52):
you ast Edge for providing that. All right, Well, with
that said, let me get right into the stock market side, guys,
to save some time, because this was not good stuff today.
It started off as a is, a tough pre market session.
We were down about three hundred or so and I
started my updates at five twenty three and it just
continued to get worse throughout the day. Worst level we
were down, actually hit it a couple of times, down
(04:14):
over six hundred down the Dow Jones Industrial Average.
Speaker 2 (04:17):
So let me boil it down as.
Speaker 4 (04:18):
To what happened.
Speaker 1 (04:20):
Well, first, I'm going to tell you I just save this.
I'm going to tell you how we finished up. Finished
up with a loss of four ninety nine on the Dow,
one point zero seven percent to a close of forty
six ninety one. Now, as I lost two seventy five
one point two one percent, SMP down fifty five or
point eight three percent. So it was a combination of
a number of different things that happened. It started off
(04:41):
early this morning. I mentioned this on the show yesterday
along with Jason highly anticipated earning his report from Home Depot.
That report came out early this morning the pre market session.
It was not a good report. They missed on the
earnings for share estimate. They lowered their fiscal twenty six
earnings guidance. That route weighed on not only the stock
but also the kind of the consumer cyclical sector of
(05:03):
the market, and then of course a reminder that home
Depot is a big stock, it's a three hundred and
thirty six dollars stock, and it's a Dow component, So
that weighed on things that That was one of the
culprits that brought us down in the pre market session
and continued throughout the day. The stock finished down twenty
one dollars and fifty five cents, about a six point
zero two percent loss to three thirty six forty eight.
(05:24):
So that was factor number one, factor number two to
the weakness. Amazon stock finished down ten dollars and thirty
two cents four point four to three percent loss to
two twenty two to fifty five. They got a downgrade
from a roth Child's and Company. They downgraded the stock
from a bio rating to a neutral that is a
Dow component.
Speaker 2 (05:41):
Then we move over to the world in Navidia.
Speaker 1 (05:43):
After the close tomorrow, you know, we're all going to
be reading whether good news, either we're going to be
smiling or we're going to be crying after the company
releases their earnings numbers right after the close. Ahead of that, though,
stock by the way, is down about nine percent over
the last well the last three days, excuse me, last
two days this week to date, keep thinking that's Wednesday.
Today it was down five dollars and twenty three cents
(06:05):
two point eight percent loss to one eighty one thirty seven.
Peter Thiel, we heard yesterday that his fund liquidated at
all shares of Navidia, So that got everybody thinking, like,
what does he know that the rest of the world doesn't,
So that put pressure on that stock. Another Dow component
falling in sympathy today was Advanced micro Devices in the
(06:26):
semiconductor space four and a quarter percent loss, down ten
dollars and twenty three cents to two thirty twenty nine.
Micron thirteen dollars and forty five cent loss, down five
point five six percent to two twenty eight fifty.
Speaker 2 (06:37):
So once again, this.
Speaker 1 (06:38):
Whole AI trade valuations, et cetera, that I keep talking
about till I'm blue in the face each and every day.
I know you're tired of hearing about it. That is
what's affecting these stocks. Again, this could all change tomorrow
if Navidia comes out and reports numbers that are better
than what Wall Street's anticipated, then all this concern about valuations.
Speaker 2 (06:57):
Et cetera could go by the way. So that's why
this is a very important report.
Speaker 3 (07:02):
Uh.
Speaker 1 (07:03):
Let's see Luke Capital today they upgraded Google, so that
was a positive in the tech sector. Stock just wrote
fell just sixty four cents to ninety six. Let's see
United Health was another pressure of the downdown six dollars
in ninety four cents three thirteen fifty eight. Dwight, Let's
jump right over to the bomb market side of things today.
The CEME FED watch tool, hey, moved in your favor
(07:24):
a little bit, jumped up to an odd of fifty
one point one percent probability of a quarter percent cut
in December.
Speaker 2 (07:29):
That is an increase from forty two point four percent yesterday.
Speaker 1 (07:33):
So look at that, see dw I you didn't have
to do anything, just at the stock market fall and
the odds of a quarter percent cut go up.
Speaker 2 (07:39):
Yeah.
Speaker 3 (07:40):
And what was it? Is it?
Speaker 6 (07:41):
Paulson as a FED members? Am I getting it right?
That said in favor of rate cut in December?
Speaker 2 (07:47):
Yeah? I believe it was Pulsa.
Speaker 3 (07:48):
Yeah.
Speaker 6 (07:48):
So I mean, so your thirty year fixed rate later
or not unchanged? John six point three eight percent? I
mean we're just really sitting in this six three three
five range for ever since the Fed announcement, you know,
last month, So you know that I just don't I
don't see a lot of movement until it's like those
(08:08):
either that percentage goes up or goes down, right. I Mean,
it's just it's a tough market out there, and it's
it's really rough and when we get into the report,
we can get more in the trenches with it, but
it's just it's the bar is very, very fatigued, more
than I've ever seen.
Speaker 2 (08:24):
They just That's what I was just going to ask you. Yeah,
let's let's talk about this what again?
Speaker 1 (08:31):
As I said, this is the best part of when
we get into the real estate report.
Speaker 2 (08:35):
What's what's your gauge? What's your barometer? Do I of
the consumer? Right now?
Speaker 1 (08:39):
And before you answer, I just want to remind everybody
report after report that we're receiving, whether it's auto delinquencies rising,
credit card delinquencies rising, foreclosures rising, the consumer is strapped,
they're tapped, they're strapped, they're hurting right now right for
various various reasons. But do I they sit down in
front of you or over over a video call. Talk
(09:02):
to me about what you're seeing hearing from these people
right now.
Speaker 6 (09:05):
I think you know, John, the one word that comes
out as there's fear. They're they're they're afraid that either
their house won't sell, you know, I mean, they're got
their employment cut back, something's going to It's it's amazing
how they're now creating things that potentially could happen that
is affecting their decisions now. And it's it's hard to
(09:25):
watch because I mean, you know to chorus point last week,
you know, the other day they got he got his
health insurance dropped, and so he's scrambled. I mean, how
can you go effectively look for a house to buy
if now you don't know, no, his his health insurance
he was self employed, just like self his health insurance
(09:46):
got canceled.
Speaker 2 (09:47):
Oh I thought you said Corey, like Corey.
Speaker 3 (09:49):
Was talking about last week.
Speaker 6 (09:50):
Remember how he was talking about last that that and
so now how do you go buy a house when
you're uncertainty of your health insurance?
Speaker 2 (09:58):
Right right?
Speaker 6 (09:59):
And so he's I gotta pause it. And that's fear
is just everywhere right now. And I you know, we
are forever the optimist on this show and always have been.
But there's a lot of fear going on right now,
and it's.
Speaker 2 (10:11):
So, what's your advice to these people?
Speaker 1 (10:13):
Do you say, you know what, I think it's best
that you you hold off for a little bit, or
how do you cancel them? What's what's your advice of
the audience into your your clients.
Speaker 3 (10:21):
Well, I think it depends really on the situation.
Speaker 6 (10:23):
You know, if they really truly need to move and
there's a you know, Corey has said it before, he
has talked to borrowers or buyers into waiting, and yeah,
I mean, if if they don't need to do it
right now, there's no reason.
Speaker 3 (10:35):
To do it right now.
Speaker 6 (10:35):
I mean, if you you know, if you don't have
to move, then there's don't try to cram the square
peg in a round hole. And that's what they're trying
to do. And it's just it's really unfortunate, John, because
my heart breaks for some of these people because it's
a story inside of a story, and uh, you know,
I'm sure Corey hears them. And the biggest frustration right
(10:56):
now is selling an existing house just to move. They're
having people across the border having a hard time selling
houses you know, maybe it's a price thing, like Corey
always says, but you know.
Speaker 4 (11:06):
It's always price, right, Corey, absolutely, yep, always price.
Speaker 1 (11:10):
All right, Corey, when we come back from the break,
I want to ask the same question to you. Let's
get to your gauge of how the consumer is doing
at this point and see if it coincides with Dwight.
Speaker 2 (11:19):
I bet it probably will. Sure, all right, let's.
Speaker 1 (11:21):
Turn it over to Kristen Snow. She's in the right
now traffic center. Hello, Kristen, Welcome back to the John
Sancho Show on News Talk seven eighty koh with Corey
ingeviduality to White Mollard of Highlands Mortgage once again. We
finished down four ninety nine on the DOW, lost two
seventy five on the NASDAC, and decline a fifty five
on the SMP five hundred. On the commodity front, we
(11:44):
gained about seventy eight cents on oil sixty sixty eight
a barrel, down eight dollars and ten cents on gold
four thousand, sixty four dollars, and fifty cents per rounts
one basis point loss on the tenure out a yule
close of four to twelve, and as Dwight said, the
thirty year mortgage six thirty eight, Right, Dwight, big old,
you see change for the day. Okay, all right, So
we're going to get into our local real estate report.
(12:05):
We'll tell you about again Alan is taking to sell
a house medium price, all the things you need to
know to make an informed real estate decision. But as
I always say, the best part of this monthly segment
we do on the local real estate market is what
these two gentlemen share with us and are able to
talk to us about what they see going on in
their various businesses. Dwight is a lender, Corey is a
real estate broker. Dwight told us the consumer is hurting.
Speaker 2 (12:27):
Corey.
Speaker 1 (12:27):
Let's go to the same question to you. What's your
gauge of with the consumer, how they're doing at this point?
Speaker 5 (12:33):
They're stressed. I totally agree with Dwight. I don't know
if it's a panic or a low level fear, but yeah,
people are stressed out a because of the cost of living.
Even though they say inflation's coming down, which technically I
guess it is, they're still stacked on everything that's happened
over the last five years, whatever you want to call it.
Speaker 4 (12:53):
The prices.
Speaker 5 (12:53):
To Dwight's point, it's I don't think people have a
hard time selling a house. They have a hard time
selling a house at the price they need to get
to clear the debt. You know, you can always sell
a house, but in order to get out of it,
that stresses them out. And people are worried about losing
their jobs. I mean, we were talking about it on
the break. You hear about it like these these layoffs
(13:14):
are becoming a big thing. There was a I may
get this wrong, but I think the qr I report
this morning mentioned that the amount of layoffs coming per
that report is the biggest ever based on the history
of that report. And so even if you feel stable
in your job, if you have one of those entry
level jobs, you're probably feeling a little panic er.
Speaker 2 (13:34):
Now, well, I'm going to correct you.
Speaker 1 (13:36):
I disagree with you on just one aspect, which is
it's not just entry level jobs anymore, Corey. It is
any as we're discussing during the break. I mean, if
you don't mind, Corey, your son's going off to college
next year and your wife are going to sit down
and say, you know, is this really what you want
to do versus going into some type of a trade
or trade school or you know, Dwight, you said go
into medical. Right, some of your kids are into the
(13:58):
medical side, which all the those are great pieces of advice.
Speaker 2 (14:02):
According to your point. You know, we see. I mean,
let's let's just go back to Amazon. A few weeks ago,
fourteen thousand employees were let go that were in corporate finance.
Fourteen thousand.
Speaker 1 (14:15):
These aren't entry level positions most likely, right, And so
I think would I agree one hundred percent is yes, absolutely,
It's very tough if you're an entry level employee. And
we're all talking of course because of AI. But I
think anybody that sits behind a desk, Dwight and I
are at a big risk. Core you're not, because you're
you still physically, at least at the time being, need
(14:35):
to go out and physically show a house and things.
But those of us that sit behind a desk and
deal with you know, paperwork and things like that, those
are the professions that are at our risk. But you know,
I want to remind everybody please go back and listen
to to I want you to listen to two podcasts.
Speaker 2 (14:51):
Well, I'll say the one should listen.
Speaker 1 (14:54):
To our podcast every day, but go back and listen
to the podcast that my brother Dennis and I did
yesterday in regard to to AI and how to become
a solopreneur, folks, because again, the after we finished the
John Sanchez Show, we went over to an other studio,
Podcasters of America, which is where you can find the
(15:14):
roughly an hour long interview Dennis and I did together,
and I gave some examples of once again the power
of AI and why it can eliminate so many different
people that literally you can start a business as I
did over the weekend. You know, one of my businesses
I had to create a new marketing plan for and
(15:35):
I was done in a matter of an hour. In
the most remarkable marketing plan I have ever seen came
out of AI O to chat GPT and I'm going
to implement it. And so you look at this and
you go all these people that are losing their jobs
because of AI. But one thing that we have to
remind ourselves on is you can either and we say
this all the time on Mondays when Dennis joins us,
(15:57):
and that is you can either embrace AI or you
can try to fight it, and let me tell you,
it's like trying to fight the stock marketer, the FED.
You know, an old saying I was taught as a
very young broker, never fight the tape. Don't ever try
to fight AI, because it is going to win. And Corey,
you were saying you watched an interview with the founder
of Anthropic, a great sixty minutes interview, and so on
and so forth. I'd love for you to share with
(16:19):
the audience. But he said, you know, you're going to
have to expect ten percent unemployment. And I said, who's
been telling you, guys that I've said that for the
last couple of months, We're going to be that is
going to be our norm eight to ten percent unemployment.
And so, folks, either you got to embrace it and
get into the world of entrepreneurship or retrench and retrain
(16:40):
yourself to make yourself valuable, because just look at your job.
It's a really simple test, really simple I'll call it
a litmus test, and that is look at your job
and go, you know what, if I wasn't sitting here,
could a computer do it. I'll give you, guys a
prime example, just a prime example that just happened to me.
About an hour ago, my wife called her a local
Toyo dealership because we need I have a you know,
(17:01):
Toyota Tacoma and to get an oil change. She comes
storming into my office and she goes, you're not gonna
believe this. I said, what She goes, I just called
Toyota to make disappointment. She goes, I just had a
conversation with a chatbot, so they recognized her number when
she called. The chap bot picks it up and goes, well,
they thought it was my number because you know, it's
(17:23):
kind of my account, and the chapbok goes, hey, John,
how are you today? What can I do for you?
And she says, you know, we'd like to get an
oil change. No problem, Well I can tell this isn't John,
this is Megan. So you know what, Megan, when do
you want to come in for an appoyment?
Speaker 2 (17:35):
She said. I went on to this entire conversation like
I was talking to a human being.
Speaker 4 (17:40):
It was.
Speaker 1 (17:40):
It was it was friendly and knowledgeable. And as soon
as she hung up, because it took her about five
minutes to walk into my office, here comes the email
confirmation just confirming your oil change. This Thursday at nine
thirty in the morning. That's where it's going, guys, that's
where it's going. And that's why as much as that
pins me, God knows, I don't want to see anybody
lose their job. But we are at a transition in
(18:02):
our life in mankind unlike anything we've ever seen before.
And all I can tell people is what you guys
are feeling and seeing in the in the with your clients.
We're different right where most of our clients are in
or near retirement, so we're not hearing a lot of
things you guys are with people still working. But it
is terrifying out there. But you've got to sit back
(18:22):
and you've got to do some someh like I said,
some retrend sing or you know, join the club and
we'll show you how to become a solopreneur.
Speaker 2 (18:30):
Because let me tell you, that's the bright side of AI.
It can. It can get you into business in a
matter of hours. It really can. I literally, guys, And
I'm going to do this one of these days.
Speaker 1 (18:39):
I'm gonna I'm gonna take a bunch of names, We'll
build up a big list, and I'll randomly select one
person off of this list Bailey Marie please join us
real quickly as the marketing director and producer of the show.
Let's see if she jumps on here. Now looks like
she's tied up.
Speaker 6 (18:55):
Uh.
Speaker 2 (18:55):
Anyways, I think that'd be a great idea, don't you. Guys.
Speaker 1 (18:58):
We'll take a bunch of names, get a couple hundred names,
we'll draw one name out and maybe on the air,
we'll create a business using AI and show you how
fast it can be done. I mean a full blown marketing,
financial you name it, plan everything you need to get
into business. I can show you within an hour, two
hours at the very most.
Speaker 2 (19:16):
To do that.
Speaker 1 (19:18):
Absolutely, it's this is the way we gotta do it,
but quite real quick before we go to break. You
said you watch this on sixty minutes. I'm gonna watch
it tonight because I missed it with this interview with
Anthropic just today they were in the news or they're
now valued at three hundred and fifty billion dollars. They
just got a big investment deal with Microsoft in the video,
so chime in real quickly with the gentleman.
Speaker 5 (19:39):
This EEO had to say, Yeah, and if people don't
know the company, it's a competitor to chat GBT. As
a matter of fact, the guy used to work there.
He's one of their engineers and he started his own
and their product is Clawed. A lot of people know
the name Claude. But it was just it was fascinating
to listen to the man talk about what it is,
what it does, the fact he doesn't think that ten
percent in the playing and it is too far in
(20:01):
our future. But then to listen to them talk about
how this is a living thing and they don't know
what it'll do on day to day, and they've had
instances where it tried to blackmaw an employee because they
knew they were going to go to the next version,
or they had a real instance where I think it
was North Korea had hacked into the system and was
trying to mess with it to go against other countries,
And it was an It was an eye opener, not
(20:24):
just from the jobs front, but from the front of yeah,
these things kind of can carry on a life of
their own and nobody really knows where they'll go. Ten
percent might be a happy number of unemployment based on
what we know. So times are changing.
Speaker 1 (20:38):
Times are changing, They really are already. Folks will come
back and we'll get into our local real estate data.
No AI here, it's all human beings, I promise you that.
But at some point it's gonna be AI replacing all
this on the radio. I have a feeling, but no
one can replace Coryan Dwight's personality. I just I don't
see that and Dwight's good looks especially, I mean there's
no there's no AI bought out there.
Speaker 2 (20:57):
As handsome as Dwight. Mollart is.
Speaker 1 (21:00):
Turn it over to Jack Saban. Speaking of handsome, he's
going to give us news, traffic and weather. Ajack, Welcome
back to the John Sanchez Show one News Talk seven
eighty koh O with Corey Inevitrility to Wi Mallard of
Highlands Mortgage. A four ninety nine declined on the Dow,
down two seventy six on the NASDAC today, pulling back
fifty five on the SMP five hundred market valuations. Home
(21:20):
Depots earnings and you know, guys, right back to I
should have mentioned this one. I went over again home
Depot's performance and how it was one of the big
drags of the Dow, with you know, losing six point
zero two percent, down twenty one dollars and fifty five
cents to a close of three thirty six forty eight.
This ties in exactly as you guys are saying. I mean,
I look at home deep. I don't know if you
guys do, but definitely a great barometer of the health
(21:43):
of the consumer, right Corea goes into you shared stories
over the years from when during COVID and you'd go
you said, yeah, I just went and paid was it
six eight dollars for a two by four that normally
cost about three bucks to It's just a great gauge
you know what's going on in the housing market, remodels
and the consumer in general.
Speaker 5 (22:03):
Well, and if I heard it correctly, the home Depot
call alluded to the fact that the remodel boom has
slowed down, is either slowing down or has completely come
to a stop, which is why their earnings were down.
And I was thinking about that, thinking Americans love to remodel.
I mean, it's not uncommon to remodel three, four or
five times a year because I love doing it until
you get to the point where you're not sure if
(22:24):
your income can afford another remodel. So to me, that's
that's a consumer confidence issue.
Speaker 1 (22:30):
Right, Yeah, definitely back to the consumer confidence, Dwight, your
you and other lenders. You're you're you're kind of the
nucleus of a of a significant remodel, right where they
come to you and get a helock that type of thing.
What do you see in there is that is that
business slowed down at all? Still active? What's what's kind
of status?
Speaker 6 (22:48):
I think the inquiries I'm getting for and you know,
these it's amazing junk because these companies that offer helocks
are getting very aggressive.
Speaker 3 (22:57):
I'm getting locks.
Speaker 6 (22:58):
Yeah, lots of email, but and the and the guidelines
are actually changing in the favor of the consumer. But
most of the inquiries now I'm getting are to consolidate.
Debt has nothing to do with yeah, so it's more
debt consolidation than anything. So it kind of go along
with our theme right now. You know, the consumer just
is stretched. Anytime they get a break, they're going to
(23:20):
try to unwind some.
Speaker 3 (23:22):
Of that debt.
Speaker 2 (23:22):
Yep, that makes sense.
Speaker 1 (23:26):
All right, Well, let's se if we can go back
to one of the piggy banks for a lot of people,
and that is the equity in their home. How are
things going if you want to buy if you want
to sell, let's bring you up to data, the latest
data from the month of October.
Speaker 2 (23:36):
Okay, mister edge, here we go.
Speaker 1 (23:39):
We'll start off with our again, the most important thing
that everybody likes to know, and that is what the
heck is the medium price right now? So you're showing
me five ninety five up two point eight percent from September,
up only one point nine percent from October of last year.
That's not a good number, my friend, I can't remember
last time we've seen that slowly.
Speaker 5 (23:58):
Ye, no, no, but if you think about it, it's
it's levitating, which levitation isn't too bad depending on if
you're at the right level. So remember this is Washoe County,
Reno sparks, stick built homes, nothing new, five ninety five.
I'll tell you, John, I don't want to give away
the the surprise in the report, but there isn't any surprise.
(24:22):
It's kind of a boring report. But I was pleasantly
surprised to see the price stick to where it was
and levitate here given really thanksgivings next week, if that
makes sense. So yeah, so, because usually we see a
pretty decent drop. So that's the way I looked at
it absolutely.
Speaker 1 (24:37):
Okay, that's interesting, all right, yeah, all right, Do I
have any comments on the medium price five ninety five?
Speaker 3 (24:42):
Now I agree one hundred percent of Corey.
Speaker 6 (24:44):
I would have expected to be slightly less and rebound
down the line.
Speaker 3 (24:47):
But yeah, I guess that's it's a good it's a
win right now.
Speaker 1 (24:51):
All right, let's move under our closed sales four hundred
and one. Closed sales down two point two percent month
over month, down three point one percent year over year.
Speaker 5 (25:02):
Again, if you're looking a month over month even year
over year, these things are just kind of streamlined. We've
had a little bit of ups and downs through the year,
but they've all kind of stayed steady.
Speaker 4 (25:11):
So four oh one for.
Speaker 5 (25:12):
October, coming into the holidays and slow down's that's not
too bad.
Speaker 4 (25:16):
Really. I wasn't.
Speaker 1 (25:19):
Feeling you're gonna be saying leaning towards this optimistic side
throughout the rest of this report. So I'll jump right
to the question, is this a good tell tale sign
that we could be in for a good spring season
if it's already you know here we are in the
slow time.
Speaker 5 (25:38):
I don't know, because to me, Dwight and conform it, Deny,
we had a bad springing. I didn't think the summer
was that great at all. So now we're just holding
those numbers. So because I mean you're holding good numbers,
you're holding bad numbers. It's kind of state here what
I did. I didn't send you guys as the report,
but I looked this closed sales number. I went all
the way back I think to twenty fifteen or six
(26:00):
team right in there to see where're usually at, because
we've been talking about it lately. Our average monthly sales
UH in nineteen, in seventeen, eighteen and nineteen, we're about
seven hundred and eight hundred, to give you an idea
of where we are now. And so post COVID now
we're down at Yeah, we're down if you look at
(26:21):
it that way. We only do fifty percent of the
business we used to do prior to all this stuff.
But the price is up one hundred percent.
Speaker 1 (26:30):
So I don't think you've ever shared that stat. We're
only doing fifty percent of the amount of business. What
does that tell you?
Speaker 5 (26:38):
It tells me what Dwight and I know, and Richard
Lace knows and Chad Over at the time, Now everybody
knows that the amount of activity on transaction volume is
way down, but because of this massive run up and prices,
everything kind of stayed a little bit status quo, if
you will. But it makes it incredibly hard for a
buyer because that buyer has less to choose from, and
(27:00):
they got to pay double for what they do choose.
Any incomes haven't stayed up. That's that same old story
we've been talking about. But I thought that was an
interesting No.
Speaker 2 (27:08):
That is, that's very number.
Speaker 4 (27:09):
I'll have to send you the graph.
Speaker 2 (27:10):
Yeah, please.
Speaker 6 (27:11):
I think what what breaks the damn John is if
you get more inventory. You know, Cory's always said it,
you get more inventory, these numbers are going to start
favoring that the buyer, you know.
Speaker 3 (27:22):
I mean there are areas of this country.
Speaker 6 (27:24):
Right now that are way buyer heavy right now, you know,
in the you know, so it's kind of an odd
Reno's kind.
Speaker 3 (27:30):
Of we've always talked about a buyer's.
Speaker 6 (27:33):
It's a buyer's market, yeah, and so Reno's always kind
of had this little bit of a bubble and it's
kind of showing itself right now because a lot of
large part of the country is a buyer's market right now,
heavily and so it's uh, these are good I think
solid numbers.
Speaker 3 (27:48):
To Corey's point, considering.
Speaker 1 (27:51):
Well, you were saying, you know, we need more inventory.
But I want to give kudos to you, do I
You've been you've been preaching this for months, which is
when we talk about what are the sleution to the
lack of inventory, and you're saying, John, we need a
portable mortgage. And sure enough, the Trump administration is now
talking about somehow, some way creating a portable mortgage where
again you could go from your current whatever three three
(28:13):
and a half, your low mortgage and move that over
to the new house and so on and so forth. Very
much in the infancy stage, but hey, it's a bright spot.
At least start talking about doing something.
Speaker 3 (28:23):
Well, we talked about it last week. Even the fifty
throughout Yeah, better than the fifty line, the.
Speaker 6 (28:27):
Fifty year mortgage and different things. But you know they're
going back to the holiday now on the on the
capital gains, you know, they're talking about that again. You know,
if you want to sell an investment property, you know,
now they're talking about those type of things, John, So
it is at least they're talking about it.
Speaker 1 (28:43):
Yeah, you know, at least we're talking exactly, all right,
Coreidle squeeze, and one more before we go to break
Meetian days to contract thirty five days, down twelve and
a half percent month over month, up twenty point seven
percent year over year.
Speaker 2 (28:54):
Yeah, not a real importance stat.
Speaker 5 (28:55):
Right, Yeah, no, but it interesting that again in the
month of October, thirty five days is from the day
it goes active to the day goes pending on our
MLS system. So for that to be down twelve percent,
so September to October, I wouldn't have thought that. I
would have thought it would go up because that's normally
what it does. So it means people are moving faster
(29:16):
for whatever reason in October to get these houses in contract.
Speaker 1 (29:20):
Okay, perfect, Maybe to try to get in there before
the holidays. All right, guys, we'll continue on our report
of our local real estate data for the month of October.
Speaker 2 (29:26):
Let's wrap it up with Kristen snow right now Traffic Center.
Speaker 1 (29:28):
Kerr Riston, Welcome back to the John Sanchez Show, one
News Talk seven to eighty K which mister Corey individuality
your phone number.
Speaker 4 (29:37):
Saw six seven three six seven zero zero, mister.
Speaker 3 (29:40):
Millard two four zero two zero two two.
Speaker 2 (29:43):
Great job, fellas.
Speaker 1 (29:44):
All right, we're going through our local real estate data
and once again just to recap so far, our medium
price in the month of October. This is all October's
data five hundred and ninety five thousand, up two point
eight percent month over month, again of one point nine
percent year over year. Closed sales four hundred and one
down two point two percent month over month, down three
point one percent year over year. Medium days to contract
thirty five days, down twelve and a half percent month
(30:05):
over month, up twenty point seven percent year over year.
Not much budget on this one, Corey. LI price received
ninety eight and a half percent three tenths of a
percent increased month over month, down one tenth of a
percent year over year.
Speaker 4 (30:18):
Yeah, that number doesn't move that much at all, So nothing.
Speaker 1 (30:21):
The lid there, ye, Medium sold price per square foot
three hundred nineteen dollars, just to two tenths of a
percent increase month over month, up one percent year over year.
You know, I'm really surprised on this one, Corey, that
we're not seeing inflation kicking in. You know, I would
have thought we'd see a bigger price increase on that one.
Speaker 5 (30:38):
Well, well, I mean the house was will only sell
for what they'll sell for, right, Like, I'm sure people
would love to have a higher number and get a
higher price per square foot, but they only get what
they get.
Speaker 2 (30:48):
So okay, all right, a number of new listings. This
is interesting.
Speaker 1 (30:53):
Four hundred and twenty seven new listings month over month,
an increase of five point two percent, but down nine
point nine percent year over year.
Speaker 5 (31:00):
Yeah, not a crazy number. Again, closing about four hundred,
adding about four hundred. This market just kind of keeps
regurgitating the same numbers month after month. Unfortunately, it was
the same numbers through the spring and summer, which should
have been much much higher. And so it's not again
I'm gonna selling a broken record. That is not a
bad number for October. We'll see what November does. But
(31:21):
that's not a bad number for October.
Speaker 2 (31:23):
Okay, good, Let's see our active inventory.
Speaker 1 (31:26):
One thousand and three homes for sale, down four point
six percent month over month, down one and a half
percent year over year.
Speaker 2 (31:34):
Boy, no one's in a big hurry, are they.
Speaker 5 (31:36):
No, And that we'd have to look back at the
last two or three reports. But I think that's the
first time we've had a lower active inventory month over
month in a while because it's been increasing, so that
that may have something to do with holidays. People aren't
usually going to list their houses in October. It's typically
a horrible time October, November, December, so that one's not
super surprising, but it does help out. That doesn't help
(31:59):
the buyers, it does help there's less.
Speaker 1 (32:00):
Competition Duaight to Corey's point, where again you don't see
a lot of people listing their homes for sale and
the holidays, do you you deal with a lot of
home developers, the nationals and not national but developers in general.
Do you see them offering more incentives this time of
year to generate those sales one percent, one hundred percent.
Speaker 6 (32:23):
Yeah, they're they're trying to get them, and they do
it actually monthly, but then they do the big year
in let's we got to clear everything off.
Speaker 3 (32:29):
So it's a it's a push.
Speaker 6 (32:30):
It's a they're coming up with Christmas packages and New
Year pack you know, they're all sorts of packages that
throw in you know, dishwashers and washing machines and refrigerators
and blinds and yeah, so it's a it's definitely a push.
I think, and it's always been like that, but it's
it seems more aggressive right now.
Speaker 1 (32:48):
All right, boys, let's wrap it up with the very
important number of the month's supply of inventory. Two and
a half months of inventory Corey down two point four
percent month over month, up one point seven percent year
over year.
Speaker 5 (32:59):
Yeah, that's an inventory, I mean, higher than we've had
over the last couple of years. It's been steadied pretty
much all year, so it gives the buyers some options.
The inventory coming down isn't surprising again going into the holidays,
so as I mentioned, not to be a downer, but
the whole report's kind of boring. But depending on how
you look at it, boring is good in this case
because you didn't fall off a cliff.
Speaker 4 (33:20):
Nothing bad happened.
Speaker 5 (33:21):
I doubt anything bad is going to happen over the
next couple months unless I don't know, Unless something bad happens,
I guess, but I don't see it right.
Speaker 1 (33:29):
Right exactly, Dwight, we got about a minute left. I
want to wrap up with you. You spend a lot
of time back in the in the Austin, Dallas, et
cetera area of the country, and you were just saying
during the break, you're now seeing brand new brick homes
in what the two thousand square foot range now below four?
Speaker 6 (33:50):
Yeah.
Speaker 4 (33:50):
Yeah.
Speaker 6 (33:51):
The unfortunate part to that, John, is the property taxes
compared to like a northern Nevada are significantly higher. But
I mean, it's just lots of lots and lots of
properties to look at, and so it's amazing what they
can build them for.
Speaker 3 (34:07):
I mean, it's just I.
Speaker 1 (34:08):
Don't and you said, you're hearing again this, I haven't
researched this, so I'm going to say it's quote a
rumor from you or that you're hearing that boying maybe
looking to going to Lubbock say that.
Speaker 6 (34:21):
I've heard it from a couple of different people. But yeah,
it's just I can't validate anything. But yeah, no, you know,
it'd be one of those hot markets if they It
makes sense kind of multiple ways.
Speaker 2 (34:31):
But yeah, yeah, that was just a rumor.
Speaker 3 (34:33):
I've heard three times from three different people.
Speaker 2 (34:35):
So no kidding. And you are you obviously see a
lot of data centers going on around there too.
Speaker 3 (34:39):
Right everywhere? Massively massive?
Speaker 2 (34:42):
Yeah, yeah, massive centers with twenty employees.
Speaker 4 (34:45):
Right, awesome, It's just what we need. A lot of robots, a.
Speaker 2 (34:49):
Lot of robots.
Speaker 1 (34:50):
Corey was that sixty minute segment on Anthropic? Was that
this last Sunday? Yes, okay, yeah, you should plan that
on YouTube. All right, boys, Hey, boring is good. We'll
take We'll take boring absolutely, no.
Speaker 2 (35:01):
Doubt about it.
Speaker 1 (35:02):
Great job as always, Fellows to appreciate you. We'll do
it again tomorrow on the John Sanchez Show. Goub Let's
have a great afternoon.
Speaker 2 (35:11):
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 nmlsid Number one three four
eight seven one. 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
(35:32):
license mortgage professional for guidance tailored to their specific situation.
All loans are subject to credit approval and program guidelines.
Not all applicants will qualify.
Speaker 1 (35:41):
Loan terms and availability may vary by state and are
subject to change without notice.
Speaker 2 (35:46):
Highlands Residential Mortgage Limited is licensed in multiple states.
Speaker 1 (35:49):
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 Highland's Residential
Mortgage Limited
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