Episode Transcript
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Speaker 1 (00:05):
Good morning. It's eleven oh six here at news Radio
WCCF on a beautiful Wednesday. Yes, indeed, time now for
Real Estate Exposed with your host Matthew Patterson. This is
a deep dive and a fast paced hour into the
world of real estate. We'll talk about some community events,
we will talk with some really great guests this morning,
(00:27):
and also explore some hot listings coming up as well. So,
without further ado, ladies and gentlemen, our host of the program,
Matthew Patterson.
Speaker 2 (00:37):
Let's get it on today's today. Right we missed last
week For those who have not heard, we made a move.
That's right. We did not go far. We went back
to our Keller Williams building there in Pawna Guarda so
still in PGI good to be back over at Keller Williams.
And we were getting situated. You know, if you've ever
(01:01):
moved a house of stuff, just imagine moving twenty some people.
It is like hurting cats, saying seriously, and then of
course you know, no matter what you do, you've got
the glitches and internet and this and that. But by
Monday morning, you know, we did it over the weekend
and uh started Friday, and we're up and going, and
(01:26):
when I left, the ladies all looked like they were
doing well, and they kept trying to get rid of me.
So I know they're listening. I think they're going to
have fun while I'm going. That's what I think. I
think they're planning something. And I know you guys are listening,
and I don't know what it is, but I hope
you enjoy it.
Speaker 1 (01:41):
Well, congratulations and welcome home.
Speaker 2 (01:43):
Well, I tell you what it's been since hyrricanean right,
I wouldn't say home. I mean we still work on
the back building. That's where we were at. Obviously, you
know we we it was our home from home. But
we're definitely we're back there in the corner. It's good
to be back, great energy and uh you know some
of the neighbors slopping by and it was good to
(02:04):
see everybody. So it's a step in the right direction.
But today we're going to talk mortgage. We're not going
to talk insurance. I'll stay in a good mood, so
we're gonna talk. We're gonna talk about mortgages. We'll get
into a deeper dive on that definitely in the next segment.
But let me welcome Todd, Maria Lee Bold correct Libel
(02:28):
Son of A. All right, back it up, saying all right,
all right, and you guys are with premium mortgage and uh,
we've been working together for a bit. And besides them,
keep bringing pastries and donuts. I do love them, but
it's really hard to keep the weight off. Welcome, How
(02:48):
are you? Thank you? We are outstanding.
Speaker 3 (02:50):
Yes, thank you for having us. We really appreciate it.
Speaker 2 (02:53):
Well, we appreciate it, and we're going to put you
in the hot seat today, so because that's what everybody wants.
And of course we will make you commit to everything
and sign off on it by the time you leave, right.
So anyways, we'll get more into that. Let's talk about
the market. And we're gonna talk about the market when
it comes to mortgage. But I always start this out
(03:15):
talking about the real estate market. So let's do that.
Cape Coral Fort Myers Man five hundred. Now, this is
a week. We talk about this all the time. This
is a week's number five hundred and thirty one new
listings at the market. That was between February sixteenth and
February twenty second, three hundred and seventy seven hundred contract
with one hundred and seventy one close. So we're seeing
(03:38):
the contracts come up. Definitely, the listings are up. January
was insane, which we knew it would be usually is
coming out of the holidays. To give you an idea,
as we always talk six months inventory, that's our balance market,
so you know, really get about a month lead way
each way anywhere from five to seven is balanced. Almost
(04:03):
every price point down there is within that balance market,
which is incredible. Whenever we now roll into the to
our area, the Charlotte County and Sarasota County as far
as Northport, two hundred and seventy four new listings that
same week, one hundred and fifty four hunder contract, so
(04:27):
very promising. We'll go deeper into that, but we're starting
to see more and more activity and uh, which is exciting.
Ninety seven closed during that week. I love that. I
wish all ninety seven were ours, but hey, it's something
to strive for, all right, poor Charlotte pint goord to Northpoort.
As well as talking about that six months, we're pretty
(04:49):
balanced on our low end up to about six hundred thousand,
then we get into the six to eight, eight to
a million, million to one point twenty five. You're setting
anywhere from twelve to fourteen months of inventory, so you know,
double double that balance market. That's why you know you're
seeing you know when when people say, oh, there's so
many homes on the market, it does feel that way.
(05:12):
You're seeing a lot of signs because activity had slowed
a little bit again on the on the higher end stuff.
So we had between a million and a million two
five only five closings in the month of January. By
the way, we pull these numbers on our monthly report
the first of every month, so we've got a couple
of days left of this month. I'm really really excited
(05:35):
to see February's numbers come out because you know what
we've been talking about seeing that change. They're not showing
up here quite yet. You know, there's a bit of
a delay there. So I think we're gonna see it,
definitely some improvement in our March stats for you know,
show in February and as we move forward. So really
(05:55):
excited about that. I know Kylie will have that ready
here the first so uh and uh, you know the
main thing is is is buyers right, are they engaging?
We're starting to see more engagement. We're starting to seeing
more engagement. This is a big one. If you're if
you're listening, you've got a condo, you've been thinking about
(06:15):
selling a condo on the market, great news. We're starting
to see some of those condos start to get more
and more activity and we've been selling. So that is
amazing because those definitely after the hurricanes took a big pause.
Would you agree with that? So absolutely, yeah. So I'm
really excited about that. Excited, excited, you know, for those
(06:38):
people to be able to move on to where they're going,
and also to see those buyers come in and enjoy
something in sunny Florida. So let's talk about before we
go to break, we're gonna talk about activities. What's going
on this weekend and Ponta Gorda Usually we have a
page page and a half. Actually, it looks like to
me kind of a relaxing weekend. We've got some day
(07:00):
March second, Lashley Park and Pontagorda Taste upon Agorda gates
open at eleven o'clock. Tickets are available at Taste Ofpuonagorda
dot org. Twenty plus local restaurants, desserts, drinks, crafts and
live music. Saturday March first, nine thirty to two thirty
the Saturday Wine and Craft Beer Tasting, and I recommend
(07:24):
the Parking Garage in Pontagorda for that. Saturday March first,
eight am to one downtown farmers Market. You've gotta love
the farmer's market. The problem is my daughter loves the
farmer's market, so she's gonna probably be hitting up Antia
to go to the farmer's market. All right, So let's
take a break. Then we're gonna come back. We're gonna
(07:44):
talk everything mortgage, everything lending, and we're gonna put these
two in the hot seat.
Speaker 1 (07:50):
And you're listening to Real Estate Exposed on news radio WCCF.
Speaker 4 (07:55):
Play with your history as an investor. Where do we
go when there are so many changes in real estate
like rising interest rates, inflation, questions about the overall economy.
Speaker 5 (08:03):
I talk to Matthew Patterson of the Patterson Group at
Keller Williams Peace River Partners. Matthew expertly handles any challenge,
making you more money and less time, absolutely stress free.
Speaker 4 (08:15):
It's true. Working with an agent who is not petrified
when there are shifts in the market makes the process
easier and more profitable. Having a marketing plan in place
that offers multiple options for you means you get more
money and less stress.
Speaker 5 (08:27):
A lot of agents dial back their marketing when there
is a hint of change, or even just because of
the calendar. Can you believe there are agents who say
you can't sell your home in the fall or winter?
Life continues to happen regardless of the economy and has
no regard for the calendar.
Speaker 4 (08:43):
With so much experience, Matthew and his team have seen
it all in this market. You need them to advocate
for you.
Speaker 5 (08:49):
Look come up today, Google the Patterson Group, or just
go to Matthew Patterson dot com. That's Matthew Patterson dot com.
Speaker 6 (08:55):
It's the little things that make a big difference. That's
the motto of Oak and d Land and Title Company.
Picture this a seamless, stress free closing where their expert
team will guide you through the closing process from start
to finish. They understand that every home purchase is unique.
That's why their personalized service insures your needs are met
with precision and care. At Oak and ink, Land and Title,
(09:16):
you aren't just a customer your family call today at
nine four one five zero zero five five zero nine
or online at oakandinctitle dot com.
Speaker 1 (09:26):
The local organization CARE, the Center for Abuse and Rape Emergencies,
needs your help. CARE provides twenty four hour hotline services,
twenty four hour rape crisis, hospital response, and victim advocacy.
This organization has helped thousands of people providing shelter support
and counseling. Donate or volunteer today Call nine four one
(09:48):
sixty nine five four nine nine or donate items at
their reuse store Kennilworth Boulevard, Port Charlotte.
Speaker 7 (09:57):
Hi to Celine Dion asking you to help put an
end to premature birth. I share the concerns and fears
of every parent, knowing that more than one million babies
around the world die every year simply because they didn't
get enough time to grow. Let's work together for stronger,
healthier babies. Visit Facebook dot com slash world Prematurity today
(10:21):
to find out how you can make a difference. Thank
you for caring.
Speaker 8 (10:28):
Your home sale is done and you call Matthew Parson
Go to Matthew Patterson Dott's push property.
Speaker 1 (10:46):
Good morning, It's eleven sixteen and if you've been listening
to the show well, first of all, we're rolling along
really really well. But if you have a question or
something you'd like to know more about, maybe you're thinking
of buying or maybe selling a home, there's a number
you can call. Let me give you that number right now,
to the Patterson Group. It's nine for one six one
(11:06):
eighty six hundred. Once again, that's nine four one six
one eighty six hundred. Let's get back to Matthew Patterson
and real Estate Exposed.
Speaker 2 (11:17):
Thank you, saye. And if you're driving and don't have
a change to write that down, just go to Matthew
Patterson dot com. And as always we will have we
will be able to contact you with our guest. If
there's something that you heard that you will make sure
you heard it correctly because it was that good. Give
us a call, shoot us an email, contact us on
(11:37):
the website, and we will get back to you. All right, God, yes,
how are you? You're great? All right? So obviously the
big question I have to ask, uh, what's the average
rates today?
Speaker 9 (11:52):
Well, based on national averages as of yesterday, which rates
can change daily.
Speaker 2 (11:58):
Yes, we know and usually want I'm not happy about that, right,
and they can actually change throughout the day. As well.
Speaker 9 (12:03):
But as of yesterday, thirty year conventional rates were six
point seven eighty three. And these rates are all based
on top tier credit score with twenty percent down. Okay,
when you say top tier, typically seven forty are better.
That's what I was thinking, and incrementally. Fanny Main and
Freddie Mack have what they call risk based pricing, So
(12:25):
anytime you have a credit score that's incrementally lower than
seven forty, usually in ten point increments, there may be
a slight increase to the rate. Fifteen year conventional was
at five point eight one to two faha, Thirty year
fixed rates were at six point zero four to five,
and VA rates for all those veterans out there, thirty
(12:47):
year fix was at six point zero four to one.
And we have been seeing a recent slightly downward trend
to mortgage rates.
Speaker 2 (12:57):
So I love it. I'd like to see a steep
downward trend slide down there.
Speaker 10 (13:02):
I'd love to.
Speaker 2 (13:04):
Yeah, what do you think on that? I mean, what
are you hearing? And I know it's all over the Yeah.
Speaker 9 (13:10):
Most of the most of the professionals that I trust
are predicting by year end mortgage rates will be in
the mid.
Speaker 2 (13:20):
To high fives.
Speaker 9 (13:21):
Yeah, but they said that the last couple of years as.
Speaker 2 (13:26):
Well, and that's where I'm at. That's exactly I'm not
willing to hang my hat on it because things change quickly, right, so,
which you know every bit helps. But you know, we're
you know, we're fairly close to that now, depending on
what you're going with, correct, So you know, to give
(13:46):
an example, what you know, let's say you had a
four hundred thousand dollars loan. What would we be looking
at the difference? Well, let's do a hypothetical.
Speaker 9 (13:57):
So let's say you purchased a home today, locked in
your rate at that national average rate of on a
conventional lown at six point seven eighty three about a
four hundred thousand dollars house. You put twenty percent down,
Your monthly principal interest payment is going to be twenty
one hundred and three dollars. And then let's say hypothetically
rates decline a half percent. So you wait, even though
(14:19):
it's a buyer's market right now, and you have the
advantage of perhaps negotiating seller concessions. Yeah, because of the
amount of inventory that you mentioned earlier when you're giving numbers.
Speaker 2 (14:30):
But let's say that you're stubborn or you.
Speaker 9 (14:32):
Can't find the house you'd like, and you go into
contract a few months down the road when rates have
declined a six point three seventy five. That would lower
your payments in nineteen ninety seven per month, so your
hundred and six dollars Yeah, yeah, so twelve hundred dollars
a year. Yeah, but you you also, I mean to
(14:53):
peel back the next layer of the onion. Six months
from now, you might be paying ten to fifteen thousand
more for that same house because inventory is right. Yeah, so, uh,
that's a caveat. I mean, it's I know, people are
programmed that aren't don't have a real estate or mortgage background.
They're they're programmed, especially with the rate environment from back
(15:13):
in COVID and before, because we got spoiled for a
few years. They think that they're going to get that
three percent rate and that six hundred thousand dollars house
for an affordable payment like their friends did a few
years ago.
Speaker 2 (15:25):
And yeah, that would be nice, Yeah, that would be
really nice. Okay, So if I want my cake and
eat it too, tell me tell me a little more
about buydowns, okay, because that's where I go to with
that if I want to go ahead and buy it now,
but yet I want the cheaper interest rate. I want
(15:46):
to take advantage of both. I want to take advantage
of having the purchasing you know, negotiation, sure, get to
go after concessions, or if I don't need the concessions,
get a better price on the home and be able
to negotiate down more. But yet still I want the
cheap interest rate when it comes, but I don't want
all the fees. What's my options the Bible?
Speaker 9 (16:10):
So my in my opinion, Marie and I what what
we preach and try try to consult our buyers and
our referral partners in real estate agents on is a
lot of people want to buy the rate down permanently,
and you seller concessions to buy their rate down permanently.
(16:31):
And with the rate environment where it is now and
rates are anticipated to decline in the next year, you're
you're going to pay a few thousand dollars to buy
your rate down a quarter percent and you're not going
to really impact your monthly payment all that much. And furthermore,
when rates do decline, you're probably going to refinance anyway,
so you're going to use that money to buy your
rate down on a permanent basis. Then you're going to
(16:52):
refinance out of that. So it's kind of like money
that you flesh down the toilet. So to circumvent that
and to get more bang for your buck, what we've
been doing is, rather than all these listings that are
on the market, we've been recommending to our buyer's agents
to negotiate that the seller pay for a two to
one temporary buydown, which the buyer would benefit much better
(17:16):
from in the initial two years. Because, for example, to
use that same price point that you used on a
four hundred thousand dollars purchase, if you negotiate that the
seller pays a two to one buy down for you,
you're going to lock in your initial interest rate at
today's rates.
Speaker 2 (17:31):
So let's use that six point eight seven five.
Speaker 9 (17:34):
But in the first year of your mortgage, you're going
to have an effective rate of four point eight seventy
five so your payment.
Speaker 2 (17:42):
So that's where the that's where the two to one
comes from. And that's what I want to get because
because it's very confusing, I mean, we're in this daily,
you know, so you're buying it, you're getting two percent
less the first year, correct, and then one percent the
second correct. What is that in dollars and cents? Okay?
Speaker 9 (18:00):
And so let's start off with what your rate would
be in a in a typical mortgage. Well, let's go
back to that six point eight seventy five rates and
a monthly payment of twenty one oh three okay, in
a two to one by down and year one, when
your rate is two percent lower than it would be otherwise,
you're at four point eight seven five percent and your
payment is sixteen ninety four per month, which is the
(18:23):
savings of four h nine per month.
Speaker 2 (18:25):
All right, now we're cooking with gas, all right.
Speaker 9 (18:28):
Right In year two, your rate would increase one percent
to five point eight seven five percent, which would be
a monthly payment of eighteen ninety three per month, which
is still two hundred and ten dollars less than what
your payment will be in year three when your mortgage
matures to the six point eighty seven five. So when
(18:50):
you're talking two years of savings, you're talking twelve months
at four hundred and nine dollars a month, So you're
talking about four h nine times two. You're talking around
forty nine hundred dollars in savings in year one, and
then you're saving two hundred and ten dollars a month
in year two, so you're talking another close to twenty
(19:11):
five twenty five hundred and twenty dollars.
Speaker 2 (19:14):
Okay, what happens after that? Okay, and year three your
mortgage will go to whatever the locked rate was at
the insumption inception of the mortgage. So in this case,
I don't want that.
Speaker 9 (19:26):
So if rates have declined in that time, you can refinance.
So let's say in the first two years you're watching
rates and your trusted mortgage advisors Todd Maria reach out
to you and say, hey, Matt, rates of drops or
five and a half percent. You've been in this two
to one buydown and your rate's about to mature to
six point eight seventy five, so why don't we refinance
(19:49):
the balance your mortgage to five and a half percent,
So you're going to have your payment back down to
even below what it was this last year at eighteen
ninety three. And also we offer a no lender few
refinance within two years of the inception of your purchase
on a home, so that'll save you some closing costs
on that refinance.
Speaker 2 (20:08):
Love it? What happens if it just took a sudden
drop six months into it, I can go ahead and
do it then, right, you can't any time in that
two years you can.
Speaker 9 (20:19):
So that's another benefit to the two to one buy down,
the temporary buy down versus a permanent buydown. So basically,
when you negotiate a two one buy down, the cellar
pays it. The seller is paying the difference in all
of the interest upfront.
Speaker 2 (20:34):
So yeah, so survey has already got their money correct. Correct.
Speaker 9 (20:38):
So so let's say six months in rates go way down,
go to five percent, and you're like, well, I'd rather
lock in a five percent permanently now rather than have
this temporary buydown.
Speaker 2 (20:50):
A pro rated portion of the.
Speaker 9 (20:52):
Funds that the seller paid on your behalf as a
concession or in an escrow account, the balance left after
six months will be credited to the simple balance on
your mortgage, and your total loan amount will be reduced
by that amount. Okay, so you're not losing the money
like I mentioned earlier, in a permanent buydown. If you
refinance anything that the seller paid for you to lower
(21:12):
your rate a quarter or a half percent is money
wasted because you're refinancing out of that and this and
this scenario. You retain all those funds of the cellar
paid on your behalf and you're reducing the balance on
your mortgage.
Speaker 2 (21:23):
Love it. So it's a win win, It really is
all the way around. Okay. So that's that definitely, I mean,
in my opinion, with what we see happening, and I
know anything could change, that's definitely a very viable option.
So if you're you know, if you're looking at properly,
you know you're going to see some listings out there
where it's it's it's right there in the verbiage. Hey,
(21:46):
the sellers offering this buydown, which we do talk to
our clients about. You know, somehowever, say hey, I want
to wait, I don't want to offer that yet, do
you know, do not be afraid to ask for that.
It's always an unless you ask, correct. So there are
many out there that that just do not know and
(22:06):
this hasn't been presented to them, but they know they
would definitely be willing to do so.
Speaker 9 (22:11):
Right, There's much Yeah, there's much more of an impact
from a payment perspective for a buyer on this scenario
versus we're seeing unfortunately a lot of price reductions because
of the inventory. Like every couple of weeks, a seller
will get nervous and the like we thought we'd have
more showings or whatnot, and their instinctive reaction because they've
been programmed for decades is to lower the price. Well,
(22:33):
that price reduction isn't changing a perspective buyer's payment all
that much. So this is kind of a thinking outside
of the box way. And this is a method that
new homebuilders have used for decades to help counter a
little increased rate market like we've been in for the
last couple of years. And that's how they keep their
(22:55):
business flowing. Is offered to one by downs and incentives,
and we as mortgage lenders, finally wisened up and we
said we need to offer this to our partners as well.
Speaker 2 (23:04):
Yeah, okay, I agree with part of what you said. Okay,
all right, one hundred percent. You should be offering the
buydown as far as the reductions, because we're seeing about
six hundred a lot of times on a weekly The
reality is if they are overpriced, though, no one's gonna
(23:25):
pay for an overpriced home, sure, and that's so I
just want to add that, you know, definitely you may
want to adjust the price, but you want to maybe
not adjust it, you know, as far as you would
without this buydown. So you know, so so you're presenting
it in the best.
Speaker 9 (23:42):
Like correct and that that's you and your team's job
as being the ultimate professionals in our market. Obviously you're
going to price your homes accurately and you you will
advise your buyers how to navigate that Intgod, that's exactly right. Yeah,
it's it's all about positioning correct. And at the same point,
(24:03):
that's why I have you guys here because I don't
do lending right and Maria is very familiar their affordability
is a big issue. We have down payment assistance programs
that that's Maria's wheelhouse.
Speaker 2 (24:17):
Yeah, we're going to get into that next definitely, you know,
affordability that is the problem right now on everything. And
I hate to even bring up eggs, but it's just
everybody knows that example, yes, but affordability is a problem.
Speaker 7 (24:32):
You know.
Speaker 2 (24:33):
The other problem is is we started seeing consumer confidence
at you know, as some record highs, and now we're
seeing that adjust back. Right now. I think it's going
to be short term, but there's so many things going
on that you know that's definitely a struggle as well, correct,
So anything we can do to help the affordability is
(24:55):
a step in the right direction. So before we go
to break, tell me how do they get a hold
of you? They want to get hold of you directly?
How do they do so they can call us?
Speaker 9 (25:03):
We each have cell phones, but we're Ohio transplants, so
my number six one four three two, five nine three
zero two or a lot of people contact us on
Facebook and we are spouses who finance houses on Facebook
as well.
Speaker 2 (25:20):
Love it. Okay, we're gonna go to break, We're gonna
come back. We're gonna talk about some of these other options,
and they have got some great ones, so stay tuned.
Speaker 11 (25:27):
Common sense tells you when it comes time to sell
your home, you need to trust the best to get
you what your home is worth, and the best is
Matthew Patterson. Take Eric for example. Eric recently worked with
the Patterson Group and said that he was very impressed
with their teamwork and the results that they were able
to achieve for him. When you're ready to sell your home,
you want to work with the best, and that's the
(25:47):
team at the Pattison Group because this is their home too.
This is Chuck britten On, behalf of my friend Matthew
Patterson of the Patterson Group a Keller Williams. Matthew is
the only person I would trust to buy or sell
my home in Southwest Floor. Find out for yourself why
Matthew and his team have over five hundred and fifteen
five star Google reviews. Give them a call today at
(26:08):
nine four one six two one eighty six hundred, or
just log out to Matthew Patterson dot com. That's Matthew
Patterson dot com and start packing because you will be
moving your home.
Speaker 8 (26:19):
Sale is down when you call Matthew Patterson. Go to
Matthew Patterson dot com.
Speaker 6 (26:26):
It's the little things that make a big difference. That's
the motto of Oak and ink Land and Title Company.
Picture this a seamless, stress free closing where their expert
team will guide you through the closing process from start
to finish. They understand that every home purchase is unique.
That's why their personalized service insures your needs are met
with precision and care. At Oak and ink Land and Title,
(26:47):
you aren't just a customer your family. Call today at
nine four one five zero zero five five zero nine
or online at Oak and Inc. Title dot com.
Speaker 1 (26:56):
The local organization CARE, the Center for Abuse and Ray
Emergencies needs your help. CARE provides twenty four hour hotline services,
twenty four hour rape crisis, hospital response, and victim advocacy.
This organization has helped thousands of people providing shelter support
and counseling. Donate or volunteer today call nine four one
(27:19):
sixty three nine five four nine nine or donate items
at their reuse store, Kenilworth Boulevard, Port Charlotte.
Speaker 12 (27:28):
You can't buy a best friend. You can love them,
walk them, pet them, and care for them whether they
want you to or not. You can take a picture
or fifty. You can fly to the moon, travel the world,
or just stay in bed. You can't buy a best
friend like that, but you can't adopt one. There are
(27:51):
millions of pets waiting for a best friend, just like you.
Help us save them all at best friends dot org.
Speaker 8 (27:57):
Your home the fail is down when you Matthew Patterson
Matthewpatterson dot com.
Speaker 1 (28:11):
Hey, and you're back to real estate exposed here on
news radio w c CF once again, Uh don't forget
their phone number for the Patterson Group nine four eighty
six hundred, or you can go to the pattersongroup dot com.
Let's get back to Matt. Matt Patterson and a couple
of really wonderful guests.
Speaker 2 (28:32):
Well, he's really talking you guys up. I don't know
what did you bring him? Bagels need to come here.
Speaker 1 (28:37):
Man learning a lot.
Speaker 2 (28:40):
All right, So I've got Todd Marie here with Premium Mortgage.
We are talking everything mortgage. At break we were talking
started talking a bit about programs, right, talking about affordability
and uh, helping people get into their homes. Maria, tell
me more, or let's start talking about your programs you offer,
(29:00):
because the time's going to go quick. I want people
to know options.
Speaker 3 (29:04):
Well options. So we talked about the affordability issue, and
we definitely have some options for people that are, you know,
struggling just to save you money to be able to afford.
Speaker 2 (29:14):
We all want to save money, yes, we.
Speaker 3 (29:16):
All want to save money. But the one program that
we actually have, which is an awesome program that Premium
Mortgage has is it's called our Premium Plus program. And
basically what this is is one hundred percent financing and
the fact that we are in a buyer's market at
the moment. What that means to you, guys is take
advantage of the inventory that's out there. You know, sellers
(29:39):
are motivated to help help you guys. And a nice
thing about the Premium Plus program it's it allows you
to be able to basically get money to be able
to put down on a house plus with the help
of your awesome agents at the Patterson Group, you know,
they'll be able to negotiate money, you know, towards your
closing costs and and the goal is hopefully that you're
(30:02):
able to you know, get in the house with no
money out of pocket. But awesome part about this program
too is that you don't necessarily have to be a
first time home buyer. With a lot of these first
time home buyer programs, sometimes you have to have you know,
not own any real estate whatsoever. In the first three years,
you have to be you know, limited to a certain income.
(30:24):
When it comes to income levels, you have to be
you know, either eighty percent of the area medium income.
But with our Premium Plus program, you know you don't
have to worry about that. You know, it doesn't matter
if you make one hundred thousand or two hundred thousand
dollars a year.
Speaker 2 (30:38):
You know, it's.
Speaker 3 (30:39):
It's there for you to be able to take advantage
of and definitely take advantage of the market where it
is today.
Speaker 2 (30:46):
Nice. So isigh income based, correct.
Speaker 3 (30:48):
It's awesome. Plus it's forgivable. It does have a forgivable option.
So what that means is if you make your payments
on time for the next thirty six months, the money
is actually forgiven and you don't worry about paying it back,
which is awesome.
Speaker 2 (31:03):
So it's a grant base initially, yes.
Speaker 3 (31:05):
You could look at it that way, right.
Speaker 2 (31:06):
Okay, And then also I know you guys are big
supporters of the First Responders military. Tell me about that program.
Speaker 3 (31:16):
Well, we do have well first off our leader or
Fearless Leader of Premium Worias. He is actually a veteran himself,
and his way to giving back to the community is
we do have a grant which is specifically for community
champions and you know, firefighters, doctors, teachers, and of course
(31:37):
the military. He actually is giving one thousand dollars off
your closing costs and it's an awesome program. You should
definitely take advantage of that as well. But other than that. Yeah,
that's that's how.
Speaker 2 (31:50):
We give back. Now, I know you guys obviously use
the Hometown Heroes. Yes, that's another one that we do.
And I know Governor Desantas had just replentyshed that with
one hundred million. Is that correct?
Speaker 9 (32:03):
That's what it had been in past years, and those
funds usually are available June first. I don't think there's
been formal announcement. Oh there hasn't, okay, not to our knowledge.
But I deserve the right to be wrong.
Speaker 2 (32:12):
But I okay, well, I think I might have read
that wrong, that that that's what he's trying to do. Yeah,
I'm sure so, and I know he's done in the past.
So hopefully that that happens with the Hometown Heroes, which
again is for your first responders and includes teachers and military.
Can they use this as well, No, it would, it
(32:34):
would be one or the other. The Hometown Heroes.
Speaker 9 (32:36):
Actually last year they open it up to all occupations,
said they do have to be employed by a Florida
based employer, though that's one caveat to it. The Hometown
Heroes does have an income restriction on it. Believe Memory serves.
It's one hundred and twenty five percent of the median
income and any given county.
Speaker 2 (32:55):
Okay, you do have to pay those funds.
Speaker 9 (32:58):
Back regardless, So if you ever sell it refinance, like
if you sell your house, they will reduce your net
proceeds on the sale by whatever amount you got is
down payment assistance.
Speaker 2 (33:08):
But it's still a great program for those. Well, it
is great because I mean, also, you know, with what
we see and we know this market is coming back,
you're gonna you're gonna have that home. You're you're gonna
have that piece of real estate to also sell at
that time to get into another one and be gaining
all that equity even with paying that back correct or
(33:28):
retain the house use it as a rental property. I mean, yeah,
we're talking all right, So talking about that, Tell me
about investment ones.
Speaker 3 (33:40):
Oh wow, we have several.
Speaker 9 (33:42):
Yeah, we can. We have many options, some of which
are catered a lot a lot of people that are
investments that have a W two job. For instance, if
you're in a primary residence, you might be maxed out
on your income already, so you might have to think
of a different way to qualify to buy investment properties
and build your portfolio. We have an investor loan. The
(34:03):
acronym is a DSCR. Basically, you need about twenty percent
down to buy an investment property, and you're not using
your income to qualify. You're using the rental income or
prospective rental income based on comparable rentals in the same market.
Speaker 2 (34:20):
To qualify, the.
Speaker 9 (34:23):
Proposed rental income has to be equal to or greater
than what your principal interest, property taxes, and homeowners insurance
will be on the property that you want to buy.
Speaker 2 (34:36):
So it has to be able to carry itself.
Speaker 9 (34:37):
Correct and then you can qualify and you can still
build your portfolio even if your W two income or
your ten ninety nine income doesn't show enough income for
you to qualify.
Speaker 2 (34:47):
Otherwise, is there a limit on how many properties? No?
Speaker 9 (34:52):
Okay, well, it depends on the wholesaler. We have twenty
different wholesale lenders that we go through. Some have overlays
where they limit your properties.
Speaker 2 (35:01):
Some don't. So that's why I was asking, because I've
had questions about that.
Speaker 9 (35:05):
Yeah, so we we try to find a way. We
try to we try to cater cater to every individual
buyer and find a solution to get to the finish line.
Speaker 2 (35:15):
Love it and what kind of interest rates.
Speaker 9 (35:19):
On those a little bit higher than a conventional rate
to really a percent or so. I closed on a
DSCR loan that I just mentioned last month. They were
at eight and a quarter on a three year fixed.
Rates have come down since then. I think Maria may
have priced went out the other day. It was in
the high sevens. They can have a prepayment penalty of one,
two or three years, or we can we can get
(35:41):
rid of that prepayment penalty by paying a little higher.
Speaker 3 (35:43):
Rate, okay, And you could buy the rate out right,
which is nice.
Speaker 2 (35:47):
Yeah, And then of course you can refinance as little later, yes, sir,
you can. You can always refinance, yeah, which, knowing what
we know about the real estate market now, would be
the time to be adding to that portfolio. Correct. And
there are deals to be had out there. Yes, I
wish you know, I could see you know, well, yes
or no. But I do remember the day I sold
(36:09):
a lot of fifty sixty thousand dollars homes here that
were three bedroom, two baths with a pool. Yeah, I
wish we would have lived down. It wasn't that long ago.
It seems like, yeah, time is flying, but yeah, my goodness, Okay, again,
how do they get a hold of you? Because I know,
I mean that one got me excited. So yeah, they
can call.
Speaker 9 (36:29):
I gave my cell phone number earlier, so we'll give
Maria's number six one four three zero nine two zero
four to two or contact us on Facebook at spouses
who Finance houses.
Speaker 2 (36:41):
And what were you saying? Call her if it's after
six pm, especially weekends.
Speaker 9 (36:49):
Right, Maria's Maria is an early riser and she works late,
so anytime.
Speaker 2 (36:56):
Yeah, you guys are always working. Anything else we need
to know what anything hot about?
Speaker 3 (37:01):
Well, what I have been noticing is there's a lot
of people that are coming down the pipes that are
looking at investing in multi units. Oh the phone call, Yeah,
they're awesome. And I know we talked about affordability. And
here's the really good thing about these multi units. With FHA,
you could actually put as a little as three and
a half percent down and you could use the income
(37:25):
at the other units to be able to qualify. Qualify
you if you can't qualify by yourself on your only income,
but we would take the income from the other units
seventy five percent of what they are whatever the going
market rent rate is. On those units and actually use
it to help you qualify to be able to purchase
a multi unit. And it's an awesome way to build
(37:46):
your portfolio. So if anything, that's another thing that you
guys should definitely look into, you know, because we're all about,
you know, wanting to build our wealth and our portfolio
and hopefully be able to retire sooner than when we would.
Speaker 2 (37:59):
You know, no better place to good than real estate.
I'm not saying it because I'm a real I was
raised us, right, We've seen it time and time again. Yeah,
I have to ask on that, and I know we're
bumping up against the break here, but I have to
ask what about new construction multi unit? Do they offer
anything like that? And the reason why I'm asking because
I've had so many calls people wanting multi ye and
(38:21):
there there, this isn't the need to pick from.
Speaker 9 (38:23):
Yeah, that falls more in multi unit. I'm assuming you
need more than greater than four units.
Speaker 2 (38:29):
Yeah, I'm talking more like fifteen to twenty. Yeah, that's
in the.
Speaker 9 (38:32):
Commercial real estate realm, which is a different, different side
of lending. So we need residential typically up to four units.
But yeah, I mean Marie and I have even explored that.
But that's that's where you need to get a commercial
lender involved.
Speaker 2 (38:46):
And I'm sure you know yes, correct me, So we'll
get you there one way or the other. Correct, we will.
We will map out a plan. Awesome, all right, you
guys have time to hang around. Sure, Okay, let's go
to break saying and we'll come back. We're gonna talk
about some hot listings and uh, you know, your next
home may be in that stack. So we will see
(39:06):
you on the other side of the break.
Speaker 11 (39:07):
Common sense tells you when it comes time to sell
your home, you need to trust the best to get
you what your home is worth. And the best is
Matthew Patterson. Take Eric for example. Eric recently worked with
the Patterson Group and so that he was very impressed
with their teamwork and the results that they were able
to achieve for him. When you're ready to sell your home,
you want to work with the best, and that's the
(39:27):
team at the Patterson Group because this is their home too. Listen,
Chuck britten On behalf of my friend Matthew Patterson, the
Patterson Group A Keller Williams. Matthew is the only person
I would trust to buy or sell my home in
Southwest Florida. Find out for yourself why Matthew and his
team have over five hundred and fifteen five star Google reviews.
Give him a call today at nine four one six
(39:49):
two one eighty six hundred, or just log down to
Matthew Patterson dot com. That's Matthew Patterson dot com and
start packing because you will be moving.
Speaker 8 (39:58):
Your home sales down. You call Matthew Plotters, go to
Matthew platsm dot.
Speaker 6 (40:06):
It's the little things that make a big difference. That's
the motto of Oak and ink Land and Title Company.
Picture this a seamless, stress free closing where their expert
team will guide you through the closing process from start
to finish. They understand that every home purchase is unique.
That's why their personalized service insures your needs are met
with precision and care. At Oak and ink Land and Title,
(40:27):
you aren't just a customer your family. Call today at
nine four one five zero zero five five zero nine
or online at Oakandinctitle dot com.
Speaker 1 (40:36):
The local organization CARE, the Center for Abuse and Rape Emergencies,
needs your help. Care provides twenty four hour hotline services,
twenty four hour rape crisis hospital response, and victim advocacy.
This organization has helped thousands of people, providing shelter, support
and counseling. Donate or volunteer today call nine four one
(40:59):
sixty nine five four nine nine or donate items at
their reuse store, Kenilworth Boulevard, Port Charlotte.
Speaker 10 (41:07):
Our veterans risked it all to protect our freedom. One
of the best ways to say thank you is to
volunteer to support them at a time and history where
kindness is a virtue. Volunteering at a therapy bag event,
teaching a craft class, or simply helping veterans at a
hospital means a lot. For over forty seven years, Help
(41:27):
Heal Veterans are not for profit organization, with the support
of citizens like you, has created manufactured and distributed therapeutic
art and crafts projects for our veterans and military at
no charge to them. As a National Veteran service organization,
Help Heal Veterans supports VA hospitals, patients at home, and
(41:48):
our active military. Together, Help Heal Veterans and volunteers like
you have delivered over thirty two million therapy kits to
injured and recovering veterans. To volunteer or learn more, visit
heel vetts dot org. That's heel vetts dot org.
Speaker 8 (42:07):
Your home sales down when you call Matthew Patterson to
Matthew Patterson dot com.
Speaker 1 (42:25):
It's eleven forty eight here on a real estate exposed
at NewsRadio w CCF. The hot listings are on the way,
and just wanted to give the phone number out one
more time, nine for one six one eighty six hundred
for the Patterson group. That's nine four one six one
eighty six hundred, or like the song says, go to
Matthew Patterson dot com. That's Matthew Patterson dot com. Let's
(42:50):
get back to the show.
Speaker 2 (42:51):
No, the song the jingles says to start packing because
you will be moving. So we're moving the offices right,
And the guys go, oh man, that's your jingle out
here all the time your home sells. So all day long,
I'm teasing him, you know, and they're like, I can't
get that thing out of my head. I said, that's perfect,
(43:11):
And of course I asked all of them if they
need to buy or sell home, and so we had
a good time with that all day and I said,
you know, I just can't get out of my head,
you know, start packing, because I said, we've already packed
and we're moving. We are moving and moving and moving
to move that many offices and set that back up.
(43:33):
All things say is God bless my team. They were amazing.
And Matthew's movers I will give a shout out to him.
I love that guy. I've had him on before. Of
course we use Matthew to move us and they did
a great job. So those guys hustle. And by the way, Matthew,
(43:53):
I did plan that as you can tell, which I
didn't plan it. But why you had cool weather. So
you're welcome, all right. So let's talk about some some listenings,
some hot properties. I tell you what, we are blessed.
We have got some great homes. And next week you're
definitely gonna be listening because I have signed several this
week that we'll be talking about next week. A couple
(44:15):
of them I have a prediction will be gone in
the first week. I really believe that because they are
just amazing properties priced appropriately. So first we're gonna go
to tell you what. Let's go to three to one
zero zero Magnolia Way and Ponta Gorda. This is in
three three nine to five zero, Charlotte Park. I have
(44:37):
got a two bedroom, two bath, one car garage, fully
fenced backyard, private doc. This is actually a good friend
of mine's home and so I say that to say
I've been there many times. It you know, it did
take on damage from the hurricanes. So he did like
he always doesn't and and everything he does, and redid
(45:01):
the entire place. It looks like a new home. It
has a very large screen LINAI that you can set
out there, enjoy, soak in the hot tub, check out
the water, jump in your boat and you're out. You're
out fishing no time. That's what he loves to do.
So this one is being introduced to the market at
four hundred thousand and it is definitely a show stopper.
(45:25):
Next we are going to let's see, let's go two
zero four zero Willehemmick Circle, Unit two O eight. This
is in Deep Creek. This is a three bedroom, two baths
with a car port. It is twelve hundred and ninety
three square feet under air lakeview of Heritage Leah in
(45:48):
Heritage Like Park, second floor condo. To have that lake
front view is awesome. Hurricane impact window windows with transferable warranty,
twenty twenty window blinds two, twenty twenty AC, twenty two
updated flooring with the luxury vinyl that so many want,
twenty four updated ceiling fans, twenty four master shower, guest
(46:11):
bathroom tile. So everything's done. Just come and enjoy yourself.
Introduce the market. Two hundred twenty five thousand, built in
two thousand and five. It's ready to go. Next, we're
going to two two eighty one Tobert Street in Port Charlotte.
This is a three bedroom, two bath, two car garage.
It is sixteen hundred and two square feet eating kitchen,
(46:33):
No HOA fees, no flood insurance required, so you can
keep that cost ownership low. It's got a twenty twenty
one roof with a transferable warranty replace, twenty twenty one skylights,
twenty four water heater, twenty four water treatment system, irrigation system,
and twenty one HVAC or air conditioning system. This one
(46:54):
is introduced to the market. Wait for it under three
hundred thousand. Two hundred and eighty five thousand is where
it's introduced. That do you do the loans for that? Todd, Yeah,
I thought you might. We would okay, all right, next
to that for myself. Okay, that's why he was thinking
so hard. All right. Four to three zero zero Riverside
Drive Unit ninety seven, Nick Greth is just listed this one.
(47:17):
It's in the three three ninety two area, two bedroom,
two bath with a carport. This is a manufactured home.
It is waterfront, that's right. And uh a private dock
with eight thousand pounds remote control boat lift. So this
is a fifty five plus community of River Forest. So
(47:37):
you get the waterfront age, double pane windows, additional storage,
twenty sixteen metal roof. I do love my metal roofs
twenty twenty one AC and uh, you're ready to go,
Like I said, waterfront age eleven hundred and fifty two
square feet priced at two hundred thousand. Next, same community.
(47:59):
Now we're at forty three hundred Riverside Drive unit or
number eighty three, two bedroom, two bath, car port twelve
hundred and sixty four square feet, built in two thousand
and eight. Again, waterfront twenty twenty one roof, new appliances,
hurricane impact windows, surge protection kitchen, reverse osmosis system so
(48:20):
you don't have to mess with that bottle of water
anymore one hundred ninety nine thousand, and I'm gonna start
moving faster because I see the clock. A ticket one
sixty seven Mocha Core. This is in Deep Creek, three bedroom,
two bath, two car garage, seventeen seventy nine square feet
pull home, a family room, oversized cornered lot. I lived
(48:42):
in Deep Creek many a year's very low hoa fees
twenty nineteen, roof twenty four AC twenty two. The pool
was resurfaced, screen front entry. Just a great community, beautiful home,
introduced to the market at three eighty five. I think
you could probably finance this one as well. This one's
(49:03):
at four to four six zero North Shore Drive in Pontagorda.
It is a three bedroom, three bat two car garage
built in ninety four on the on the harbor, so
beautiful water views. It is a pool home, oversized with
one hundred feet of water frontage right on the Peace River,
(49:25):
brand new dock. And again we have virtual tours of
all of these, so if you want to check that out,
and of course you can call us as well, but
you can see a great video walk through tour Metal
roofs in twenty twenty two twenty twenty four Doc twenty
three thousand kW generator with propane tanks, fireplaces, separate water
(49:49):
meter for the pool, irrigation and dock. The pool has
an auto filler so you don't have to mess with that,
and a cover three zone AC Introduce to the market
at one point six min. Next we are going to
one five zero nine zero Buswell Avenue. What a doll
of a home right here, three bedroom, two back, two
(50:09):
and a half car garage. You can open those doors,
you can put the tools in there, you can have
your toys in there, which is awesome. Just introduced to
the market nineteen and fifty four square feet under air,
no hoy fees, no flood insurance required. Twenty twenty two.
Rough you've got the kevlar shutters, fully fenced yard, blush, landscaping, screen,
(50:33):
front entry and this one's introduced to market at three
thirty five. Are you okay saying? Okay? All right? Next
we've got a vacant lot. That's right, you can build
your own home thirty five hundred Marsala core and Pontagorda
three three nine five zero. This is in PGI, Section
fifteen of PGI and it is sell but water access
(50:55):
to Charlotte Harbor, oversized waterfront lot one hundred and forty
feet of water frontage, so you can definitely put those
toys out back and be quick out. Three hundred thousand
is what that piece of dirt is on the market for,
and then you can build that dream home. Four to
two nine Dorchester Street. This one has just been just
(51:18):
went on the market. Three bedroom, two bad two car garage,
freshwater canal. Beautiful to set out back of this home
and especially in the evenings. No hoaps, no flood insurance required.
Twenty twenty one, rough fruit trees, wood fenced. It does
have a dog run for you dog lovers. Screened entry,
(51:40):
freshwater canal, eight by eight wood dock and fourteen hundred
right at fifteen hundred square feet under are fourteen ninety
five and it is on the market for three hundred thousand.
Next we're going to seventeen two four to four O'Hara Drive.
I fell in love with his home the moment I
walked into it. It has the up lap, you know. Now,
(52:01):
this is a newer home built in twenty eighteen, but
they've done a lot of custom work to it. It
is so nice it's got the if you've seen it online,
it's got the fire pit going. I just love this house.
Three bedroom, two bath, three car garage. It's got a den,
oversized cornered a lot, no hoa fees, twenty eighteen roof,
oversized circular driveway, workbench with shelving in the garage, hurricane shutters.
(52:25):
Introduced to the market at four to twenty five. Next
we're going to one fifty eight marin Er Lane. This
is in Rotunda West, three bedroom, two bath, three car garage,
freshwater canal in Rotund to West. You've got twenty twenty roof,
hurricane impact windows and doors, power storm shutters on the
Luni Generacs home generator which love having a generator, garage, ceiling, storage,
(52:50):
outdoor kitchen, aluminum, fully fenced backyard, pay for driveway. Introduce
to the market at six thirty five. And I can
tell you, Uh, this home is a beauty two five
two zero two Chicilea Avenue. If you are a car collector,
you have toys. Uh. It has an additional garage that
(53:12):
is that is extended with the wood shop. Introduced to
the market at three forty three.
Speaker 1 (53:21):
Wow, that's some amazing homes.
Speaker 2 (53:23):
Right there.
Speaker 1 (53:24):
Once again, we'd like to thank everyone for listening to
this edition of real Estate Exposed here on news radio
w CCF. Don't forget number to the Patterson Group nine
eighty six hundred or go to Matthew Patterson dot com.
Thank you everyone,
Good morning. It's eleven oh six here at news Radio
WCCF on a beautiful Wednesday. Yes, indeed, time now for
Real Estate Exposed with your host Matthew Patterson. This is
a deep dive and a fast paced hour into the
world of real estate. We'll talk about some community events,
we will talk with some really great guests this morning,
(00:27):
and also explore some hot listings coming up as well. So,
without further ado, ladies and gentlemen, our host of the program,
Matthew Patterson.
Speaker 2 (00:37):
Let's get it on today's today. Right we missed last
week For those who have not heard, we made a move.
That's right. We did not go far. We went back
to our Keller Williams building there in Pawna Guarda so
still in PGI good to be back over at Keller Williams.
And we were getting situated. You know, if you've ever
(01:01):
moved a house of stuff, just imagine moving twenty some people.
It is like hurting cats, saying seriously, and then of
course you know, no matter what you do, you've got
the glitches and internet and this and that. But by
Monday morning, you know, we did it over the weekend
and uh started Friday, and we're up and going, and
(01:26):
when I left, the ladies all looked like they were
doing well, and they kept trying to get rid of me.
So I know they're listening. I think they're going to
have fun while I'm going. That's what I think. I
think they're planning something. And I know you guys are listening,
and I don't know what it is, but I hope
you enjoy it.
Speaker 1 (01:41):
Well, congratulations and welcome home.
Speaker 2 (01:43):
Well, I tell you what it's been since hyrricanean right,
I wouldn't say home. I mean we still work on
the back building. That's where we were at. Obviously, you
know we we it was our home from home. But
we're definitely we're back there in the corner. It's good
to be back, great energy and uh you know some
of the neighbors slopping by and it was good to
(02:04):
see everybody. So it's a step in the right direction.
But today we're going to talk mortgage. We're not going
to talk insurance. I'll stay in a good mood, so
we're gonna talk. We're gonna talk about mortgages. We'll get
into a deeper dive on that definitely in the next segment.
But let me welcome Todd, Maria Lee Bold correct Libel
(02:28):
Son of A. All right, back it up, saying all right,
all right, and you guys are with premium mortgage and uh,
we've been working together for a bit. And besides them,
keep bringing pastries and donuts. I do love them, but
it's really hard to keep the weight off. Welcome, How
(02:48):
are you? Thank you? We are outstanding.
Speaker 3 (02:50):
Yes, thank you for having us. We really appreciate it.
Speaker 2 (02:53):
Well, we appreciate it, and we're going to put you
in the hot seat today, so because that's what everybody wants.
And of course we will make you commit to everything
and sign off on it by the time you leave, right.
So anyways, we'll get more into that. Let's talk about
the market. And we're gonna talk about the market when
it comes to mortgage. But I always start this out
(03:15):
talking about the real estate market. So let's do that.
Cape Coral Fort Myers Man five hundred. Now, this is
a week. We talk about this all the time. This
is a week's number five hundred and thirty one new
listings at the market. That was between February sixteenth and
February twenty second, three hundred and seventy seven hundred contract
with one hundred and seventy one close. So we're seeing
(03:38):
the contracts come up. Definitely, the listings are up. January
was insane, which we knew it would be usually is
coming out of the holidays. To give you an idea,
as we always talk six months inventory, that's our balance market,
so you know, really get about a month lead way
each way anywhere from five to seven is balanced. Almost
(04:03):
every price point down there is within that balance market,
which is incredible. Whenever we now roll into the to
our area, the Charlotte County and Sarasota County as far
as Northport, two hundred and seventy four new listings that
same week, one hundred and fifty four hunder contract, so
(04:27):
very promising. We'll go deeper into that, but we're starting
to see more and more activity and uh, which is exciting.
Ninety seven closed during that week. I love that. I
wish all ninety seven were ours, but hey, it's something
to strive for, all right, poor Charlotte pint goord to Northpoort.
As well as talking about that six months, we're pretty
(04:49):
balanced on our low end up to about six hundred thousand,
then we get into the six to eight, eight to
a million, million to one point twenty five. You're setting
anywhere from twelve to fourteen months of inventory, so you know,
double double that balance market. That's why you know you're
seeing you know when when people say, oh, there's so
many homes on the market, it does feel that way.
(05:12):
You're seeing a lot of signs because activity had slowed
a little bit again on the on the higher end stuff.
So we had between a million and a million two
five only five closings in the month of January. By
the way, we pull these numbers on our monthly report
the first of every month, so we've got a couple
of days left of this month. I'm really really excited
(05:35):
to see February's numbers come out because you know what
we've been talking about seeing that change. They're not showing
up here quite yet. You know, there's a bit of
a delay there. So I think we're gonna see it,
definitely some improvement in our March stats for you know,
show in February and as we move forward. So really
(05:55):
excited about that. I know Kylie will have that ready
here the first so uh and uh, you know the
main thing is is is buyers right, are they engaging?
We're starting to see more engagement. We're starting to seeing
more engagement. This is a big one. If you're if
you're listening, you've got a condo, you've been thinking about
(06:15):
selling a condo on the market, great news. We're starting
to see some of those condos start to get more
and more activity and we've been selling. So that is
amazing because those definitely after the hurricanes took a big pause.
Would you agree with that? So absolutely, yeah. So I'm
really excited about that. Excited, excited, you know, for those
(06:38):
people to be able to move on to where they're going,
and also to see those buyers come in and enjoy
something in sunny Florida. So let's talk about before we
go to break, we're gonna talk about activities. What's going
on this weekend and Ponta Gorda Usually we have a
page page and a half. Actually, it looks like to
me kind of a relaxing weekend. We've got some day
(07:00):
March second, Lashley Park and Pontagorda Taste upon Agorda gates
open at eleven o'clock. Tickets are available at Taste Ofpuonagorda
dot org. Twenty plus local restaurants, desserts, drinks, crafts and
live music. Saturday March first, nine thirty to two thirty
the Saturday Wine and Craft Beer Tasting, and I recommend
(07:24):
the Parking Garage in Pontagorda for that. Saturday March first,
eight am to one downtown farmers Market. You've gotta love
the farmer's market. The problem is my daughter loves the
farmer's market, so she's gonna probably be hitting up Antia
to go to the farmer's market. All right, So let's
take a break. Then we're gonna come back. We're gonna
(07:44):
talk everything mortgage, everything lending, and we're gonna put these
two in the hot seat.
Speaker 1 (07:50):
And you're listening to Real Estate Exposed on news radio WCCF.
Speaker 4 (07:55):
Play with your history as an investor. Where do we
go when there are so many changes in real estate
like rising interest rates, inflation, questions about the overall economy.
Speaker 5 (08:03):
I talk to Matthew Patterson of the Patterson Group at
Keller Williams Peace River Partners. Matthew expertly handles any challenge,
making you more money and less time, absolutely stress free.
Speaker 4 (08:15):
It's true. Working with an agent who is not petrified
when there are shifts in the market makes the process
easier and more profitable. Having a marketing plan in place
that offers multiple options for you means you get more
money and less stress.
Speaker 5 (08:27):
A lot of agents dial back their marketing when there
is a hint of change, or even just because of
the calendar. Can you believe there are agents who say
you can't sell your home in the fall or winter?
Life continues to happen regardless of the economy and has
no regard for the calendar.
Speaker 4 (08:43):
With so much experience, Matthew and his team have seen
it all in this market. You need them to advocate
for you.
Speaker 5 (08:49):
Look come up today, Google the Patterson Group, or just
go to Matthew Patterson dot com. That's Matthew Patterson dot com.
Speaker 6 (08:55):
It's the little things that make a big difference. That's
the motto of Oak and d Land and Title Company.
Picture this a seamless, stress free closing where their expert
team will guide you through the closing process from start
to finish. They understand that every home purchase is unique.
That's why their personalized service insures your needs are met
with precision and care. At Oak and ink, Land and Title,
(09:16):
you aren't just a customer your family call today at
nine four one five zero zero five five zero nine
or online at oakandinctitle dot com.
Speaker 1 (09:26):
The local organization CARE, the Center for Abuse and Rape Emergencies,
needs your help. CARE provides twenty four hour hotline services,
twenty four hour rape crisis, hospital response, and victim advocacy.
This organization has helped thousands of people providing shelter support
and counseling. Donate or volunteer today Call nine four one
(09:48):
sixty nine five four nine nine or donate items at
their reuse store Kennilworth Boulevard, Port Charlotte.
Speaker 7 (09:57):
Hi to Celine Dion asking you to help put an
end to premature birth. I share the concerns and fears
of every parent, knowing that more than one million babies
around the world die every year simply because they didn't
get enough time to grow. Let's work together for stronger,
healthier babies. Visit Facebook dot com slash world Prematurity today
(10:21):
to find out how you can make a difference. Thank
you for caring.
Speaker 8 (10:28):
Your home sale is done and you call Matthew Parson
Go to Matthew Patterson Dott's push property.
Speaker 1 (10:46):
Good morning, It's eleven sixteen and if you've been listening
to the show well, first of all, we're rolling along
really really well. But if you have a question or
something you'd like to know more about, maybe you're thinking
of buying or maybe selling a home, there's a number
you can call. Let me give you that number right now,
to the Patterson Group. It's nine for one six one
(11:06):
eighty six hundred. Once again, that's nine four one six
one eighty six hundred. Let's get back to Matthew Patterson
and real Estate Exposed.
Speaker 2 (11:17):
Thank you, saye. And if you're driving and don't have
a change to write that down, just go to Matthew
Patterson dot com. And as always we will have we
will be able to contact you with our guest. If
there's something that you heard that you will make sure
you heard it correctly because it was that good. Give
us a call, shoot us an email, contact us on
(11:37):
the website, and we will get back to you. All right, God, yes,
how are you? You're great? All right? So obviously the
big question I have to ask, uh, what's the average
rates today?
Speaker 9 (11:52):
Well, based on national averages as of yesterday, which rates
can change daily.
Speaker 2 (11:58):
Yes, we know and usually want I'm not happy about that, right,
and they can actually change throughout the day. As well.
Speaker 9 (12:03):
But as of yesterday, thirty year conventional rates were six
point seven eighty three. And these rates are all based
on top tier credit score with twenty percent down. Okay,
when you say top tier, typically seven forty are better.
That's what I was thinking, and incrementally. Fanny Main and
Freddie Mack have what they call risk based pricing, So
(12:25):
anytime you have a credit score that's incrementally lower than
seven forty, usually in ten point increments, there may be
a slight increase to the rate. Fifteen year conventional was
at five point eight one to two faha, Thirty year
fixed rates were at six point zero four to five,
and VA rates for all those veterans out there, thirty
(12:47):
year fix was at six point zero four to one.
And we have been seeing a recent slightly downward trend
to mortgage rates.
Speaker 2 (12:57):
So I love it. I'd like to see a steep
downward trend slide down there.
Speaker 10 (13:02):
I'd love to.
Speaker 2 (13:04):
Yeah, what do you think on that? I mean, what
are you hearing? And I know it's all over the Yeah.
Speaker 9 (13:10):
Most of the most of the professionals that I trust
are predicting by year end mortgage rates will be in
the mid.
Speaker 2 (13:20):
To high fives.
Speaker 9 (13:21):
Yeah, but they said that the last couple of years as.
Speaker 2 (13:26):
Well, and that's where I'm at. That's exactly I'm not
willing to hang my hat on it because things change quickly, right, so,
which you know every bit helps. But you know, we're
you know, we're fairly close to that now, depending on
what you're going with, correct, So you know, to give
(13:46):
an example, what you know, let's say you had a
four hundred thousand dollars loan. What would we be looking
at the difference? Well, let's do a hypothetical.
Speaker 9 (13:57):
So let's say you purchased a home today, locked in
your rate at that national average rate of on a
conventional lown at six point seven eighty three about a
four hundred thousand dollars house. You put twenty percent down,
Your monthly principal interest payment is going to be twenty
one hundred and three dollars. And then let's say hypothetically
rates decline a half percent. So you wait, even though
(14:19):
it's a buyer's market right now, and you have the
advantage of perhaps negotiating seller concessions. Yeah, because of the
amount of inventory that you mentioned earlier when you're giving numbers.
Speaker 2 (14:30):
But let's say that you're stubborn or you.
Speaker 9 (14:32):
Can't find the house you'd like, and you go into
contract a few months down the road when rates have
declined a six point three seventy five. That would lower
your payments in nineteen ninety seven per month, so your
hundred and six dollars Yeah, yeah, so twelve hundred dollars
a year. Yeah, but you you also, I mean to
(14:53):
peel back the next layer of the onion. Six months
from now, you might be paying ten to fifteen thousand
more for that same house because inventory is right. Yeah, so, uh,
that's a caveat. I mean, it's I know, people are
programmed that aren't don't have a real estate or mortgage background.
They're they're programmed, especially with the rate environment from back
(15:13):
in COVID and before, because we got spoiled for a
few years. They think that they're going to get that
three percent rate and that six hundred thousand dollars house
for an affordable payment like their friends did a few
years ago.
Speaker 2 (15:25):
And yeah, that would be nice, Yeah, that would be
really nice. Okay, So if I want my cake and
eat it too, tell me tell me a little more
about buydowns, okay, because that's where I go to with
that if I want to go ahead and buy it now,
but yet I want the cheaper interest rate. I want
(15:46):
to take advantage of both. I want to take advantage
of having the purchasing you know, negotiation, sure, get to
go after concessions, or if I don't need the concessions,
get a better price on the home and be able
to negotiate down more. But yet still I want the
cheap interest rate when it comes, but I don't want
all the fees. What's my options the Bible?
Speaker 9 (16:10):
So my in my opinion, Marie and I what what
we preach and try try to consult our buyers and
our referral partners in real estate agents on is a
lot of people want to buy the rate down permanently,
and you seller concessions to buy their rate down permanently.
(16:31):
And with the rate environment where it is now and
rates are anticipated to decline in the next year, you're
you're going to pay a few thousand dollars to buy
your rate down a quarter percent and you're not going
to really impact your monthly payment all that much. And furthermore,
when rates do decline, you're probably going to refinance anyway,
so you're going to use that money to buy your
rate down on a permanent basis. Then you're going to
(16:52):
refinance out of that. So it's kind of like money
that you flesh down the toilet. So to circumvent that
and to get more bang for your buck, what we've
been doing is, rather than all these listings that are
on the market, we've been recommending to our buyer's agents
to negotiate that the seller pay for a two to
one temporary buydown, which the buyer would benefit much better
(17:16):
from in the initial two years. Because, for example, to
use that same price point that you used on a
four hundred thousand dollars purchase, if you negotiate that the
seller pays a two to one buy down for you,
you're going to lock in your initial interest rate at
today's rates.
Speaker 2 (17:31):
So let's use that six point eight seven five.
Speaker 9 (17:34):
But in the first year of your mortgage, you're going
to have an effective rate of four point eight seventy
five so your payment.
Speaker 2 (17:42):
So that's where the that's where the two to one
comes from. And that's what I want to get because
because it's very confusing, I mean, we're in this daily,
you know, so you're buying it, you're getting two percent
less the first year, correct, and then one percent the
second correct. What is that in dollars and cents? Okay?
Speaker 9 (18:00):
And so let's start off with what your rate would
be in a in a typical mortgage. Well, let's go
back to that six point eight seventy five rates and
a monthly payment of twenty one oh three okay, in
a two to one by down and year one, when
your rate is two percent lower than it would be otherwise,
you're at four point eight seven five percent and your
payment is sixteen ninety four per month, which is the
(18:23):
savings of four h nine per month.
Speaker 2 (18:25):
All right, now we're cooking with gas, all right.
Speaker 9 (18:28):
Right In year two, your rate would increase one percent
to five point eight seven five percent, which would be
a monthly payment of eighteen ninety three per month, which
is still two hundred and ten dollars less than what
your payment will be in year three when your mortgage
matures to the six point eighty seven five. So when
(18:50):
you're talking two years of savings, you're talking twelve months
at four hundred and nine dollars a month, So you're
talking about four h nine times two. You're talking around
forty nine hundred dollars in savings in year one, and
then you're saving two hundred and ten dollars a month
in year two, so you're talking another close to twenty
(19:11):
five twenty five hundred and twenty dollars.
Speaker 2 (19:14):
Okay, what happens after that? Okay, and year three your
mortgage will go to whatever the locked rate was at
the insumption inception of the mortgage. So in this case,
I don't want that.
Speaker 9 (19:26):
So if rates have declined in that time, you can refinance.
So let's say in the first two years you're watching
rates and your trusted mortgage advisors Todd Maria reach out
to you and say, hey, Matt, rates of drops or
five and a half percent. You've been in this two
to one buydown and your rate's about to mature to
six point eight seventy five, so why don't we refinance
(19:49):
the balance your mortgage to five and a half percent,
So you're going to have your payment back down to
even below what it was this last year at eighteen
ninety three. And also we offer a no lender few
refinance within two years of the inception of your purchase
on a home, so that'll save you some closing costs
on that refinance.
Speaker 2 (20:08):
Love it? What happens if it just took a sudden
drop six months into it, I can go ahead and
do it then, right, you can't any time in that
two years you can.
Speaker 9 (20:19):
So that's another benefit to the two to one buy down,
the temporary buy down versus a permanent buydown. So basically,
when you negotiate a two one buy down, the cellar
pays it. The seller is paying the difference in all
of the interest upfront.
Speaker 2 (20:34):
So yeah, so survey has already got their money correct. Correct.
Speaker 9 (20:38):
So so let's say six months in rates go way down,
go to five percent, and you're like, well, I'd rather
lock in a five percent permanently now rather than have
this temporary buydown.
Speaker 2 (20:50):
A pro rated portion of the.
Speaker 9 (20:52):
Funds that the seller paid on your behalf as a
concession or in an escrow account, the balance left after
six months will be credited to the simple balance on
your mortgage, and your total loan amount will be reduced
by that amount. Okay, so you're not losing the money
like I mentioned earlier, in a permanent buydown. If you
refinance anything that the seller paid for you to lower
(21:12):
your rate a quarter or a half percent is money
wasted because you're refinancing out of that and this and
this scenario. You retain all those funds of the cellar
paid on your behalf and you're reducing the balance on
your mortgage.
Speaker 2 (21:23):
Love it. So it's a win win, It really is
all the way around. Okay. So that's that definitely, I mean,
in my opinion, with what we see happening, and I
know anything could change, that's definitely a very viable option.
So if you're you know, if you're looking at properly,
you know you're going to see some listings out there
where it's it's it's right there in the verbiage. Hey,
(21:46):
the sellers offering this buydown, which we do talk to
our clients about. You know, somehowever, say hey, I want
to wait, I don't want to offer that yet, do
you know, do not be afraid to ask for that.
It's always an unless you ask, correct. So there are
many out there that that just do not know and
(22:06):
this hasn't been presented to them, but they know they
would definitely be willing to do so.
Speaker 9 (22:11):
Right, There's much Yeah, there's much more of an impact
from a payment perspective for a buyer on this scenario
versus we're seeing unfortunately a lot of price reductions because
of the inventory. Like every couple of weeks, a seller
will get nervous and the like we thought we'd have
more showings or whatnot, and their instinctive reaction because they've
been programmed for decades is to lower the price. Well,
(22:33):
that price reduction isn't changing a perspective buyer's payment all
that much. So this is kind of a thinking outside
of the box way. And this is a method that
new homebuilders have used for decades to help counter a
little increased rate market like we've been in for the
last couple of years. And that's how they keep their
(22:55):
business flowing. Is offered to one by downs and incentives,
and we as mortgage lenders, finally wisened up and we
said we need to offer this to our partners as well.
Speaker 2 (23:04):
Yeah, okay, I agree with part of what you said. Okay,
all right, one hundred percent. You should be offering the
buydown as far as the reductions, because we're seeing about
six hundred a lot of times on a weekly The
reality is if they are overpriced, though, no one's gonna
(23:25):
pay for an overpriced home, sure, and that's so I
just want to add that, you know, definitely you may
want to adjust the price, but you want to maybe
not adjust it, you know, as far as you would
without this buydown. So you know, so so you're presenting
it in the best.
Speaker 9 (23:42):
Like correct and that that's you and your team's job
as being the ultimate professionals in our market. Obviously you're
going to price your homes accurately and you you will
advise your buyers how to navigate that Intgod, that's exactly right. Yeah,
it's it's all about positioning correct. And at the same point,
(24:03):
that's why I have you guys here because I don't
do lending right and Maria is very familiar their affordability
is a big issue. We have down payment assistance programs
that that's Maria's wheelhouse.
Speaker 2 (24:17):
Yeah, we're going to get into that next definitely, you know,
affordability that is the problem right now on everything. And
I hate to even bring up eggs, but it's just
everybody knows that example, yes, but affordability is a problem.
Speaker 7 (24:32):
You know.
Speaker 2 (24:33):
The other problem is is we started seeing consumer confidence
at you know, as some record highs, and now we're
seeing that adjust back. Right now. I think it's going
to be short term, but there's so many things going
on that you know that's definitely a struggle as well, correct,
So anything we can do to help the affordability is
(24:55):
a step in the right direction. So before we go
to break, tell me how do they get a hold
of you? They want to get hold of you directly?
How do they do so they can call us?
Speaker 9 (25:03):
We each have cell phones, but we're Ohio transplants, so
my number six one four three two, five nine three
zero two or a lot of people contact us on
Facebook and we are spouses who finance houses on Facebook
as well.
Speaker 2 (25:20):
Love it. Okay, we're gonna go to break, We're gonna
come back. We're gonna talk about some of these other options,
and they have got some great ones, so stay tuned.
Speaker 11 (25:27):
Common sense tells you when it comes time to sell
your home, you need to trust the best to get
you what your home is worth, and the best is
Matthew Patterson. Take Eric for example. Eric recently worked with
the Patterson Group and said that he was very impressed
with their teamwork and the results that they were able
to achieve for him. When you're ready to sell your home,
you want to work with the best, and that's the
(25:47):
team at the Pattison Group because this is their home too.
This is Chuck britten On, behalf of my friend Matthew
Patterson of the Patterson Group a Keller Williams. Matthew is
the only person I would trust to buy or sell
my home in Southwest Floor. Find out for yourself why
Matthew and his team have over five hundred and fifteen
five star Google reviews. Give them a call today at
(26:08):
nine four one six two one eighty six hundred, or
just log out to Matthew Patterson dot com. That's Matthew
Patterson dot com and start packing because you will be
moving your home.
Speaker 8 (26:19):
Sale is down when you call Matthew Patterson. Go to
Matthew Patterson dot com.
Speaker 6 (26:26):
It's the little things that make a big difference. That's
the motto of Oak and ink Land and Title Company.
Picture this a seamless, stress free closing where their expert
team will guide you through the closing process from start
to finish. They understand that every home purchase is unique.
That's why their personalized service insures your needs are met
with precision and care. At Oak and ink Land and Title,
(26:47):
you aren't just a customer your family. Call today at
nine four one five zero zero five five zero nine
or online at Oak and Inc. Title dot com.
Speaker 1 (26:56):
The local organization CARE, the Center for Abuse and Ray
Emergencies needs your help. CARE provides twenty four hour hotline services,
twenty four hour rape crisis, hospital response, and victim advocacy.
This organization has helped thousands of people providing shelter support
and counseling. Donate or volunteer today call nine four one
(27:19):
sixty three nine five four nine nine or donate items
at their reuse store, Kenilworth Boulevard, Port Charlotte.
Speaker 12 (27:28):
You can't buy a best friend. You can love them,
walk them, pet them, and care for them whether they
want you to or not. You can take a picture
or fifty. You can fly to the moon, travel the world,
or just stay in bed. You can't buy a best
friend like that, but you can't adopt one. There are
(27:51):
millions of pets waiting for a best friend, just like you.
Help us save them all at best friends dot org.
Speaker 8 (27:57):
Your home the fail is down when you Matthew Patterson
Matthewpatterson dot com.
Speaker 1 (28:11):
Hey, and you're back to real estate exposed here on
news radio w c CF once again, Uh don't forget
their phone number for the Patterson Group nine four eighty
six hundred, or you can go to the pattersongroup dot com.
Let's get back to Matt. Matt Patterson and a couple
of really wonderful guests.
Speaker 2 (28:32):
Well, he's really talking you guys up. I don't know
what did you bring him? Bagels need to come here.
Speaker 1 (28:37):
Man learning a lot.
Speaker 2 (28:40):
All right, So I've got Todd Marie here with Premium Mortgage.
We are talking everything mortgage. At break we were talking
started talking a bit about programs, right, talking about affordability
and uh, helping people get into their homes. Maria, tell
me more, or let's start talking about your programs you offer,
(29:00):
because the time's going to go quick. I want people
to know options.
Speaker 3 (29:04):
Well options. So we talked about the affordability issue, and
we definitely have some options for people that are, you know,
struggling just to save you money to be able to afford.
Speaker 2 (29:14):
We all want to save money, yes, we.
Speaker 3 (29:16):
All want to save money. But the one program that
we actually have, which is an awesome program that Premium
Mortgage has is it's called our Premium Plus program. And
basically what this is is one hundred percent financing and
the fact that we are in a buyer's market at
the moment. What that means to you, guys is take
advantage of the inventory that's out there. You know, sellers
(29:39):
are motivated to help help you guys. And a nice
thing about the Premium Plus program it's it allows you
to be able to basically get money to be able
to put down on a house plus with the help
of your awesome agents at the Patterson Group, you know,
they'll be able to negotiate money, you know, towards your
closing costs and and the goal is hopefully that you're
(30:02):
able to you know, get in the house with no
money out of pocket. But awesome part about this program
too is that you don't necessarily have to be a
first time home buyer. With a lot of these first
time home buyer programs, sometimes you have to have you know,
not own any real estate whatsoever. In the first three years,
you have to be you know, limited to a certain income.
(30:24):
When it comes to income levels, you have to be
you know, either eighty percent of the area medium income.
But with our Premium Plus program, you know you don't
have to worry about that. You know, it doesn't matter
if you make one hundred thousand or two hundred thousand
dollars a year.
Speaker 2 (30:38):
You know, it's.
Speaker 3 (30:39):
It's there for you to be able to take advantage
of and definitely take advantage of the market where it
is today.
Speaker 2 (30:46):
Nice. So isigh income based, correct.
Speaker 3 (30:48):
It's awesome. Plus it's forgivable. It does have a forgivable option.
So what that means is if you make your payments
on time for the next thirty six months, the money
is actually forgiven and you don't worry about paying it back,
which is awesome.
Speaker 2 (31:03):
So it's a grant base initially, yes.
Speaker 3 (31:05):
You could look at it that way, right.
Speaker 2 (31:06):
Okay, And then also I know you guys are big
supporters of the First Responders military. Tell me about that program.
Speaker 3 (31:16):
Well, we do have well first off our leader or
Fearless Leader of Premium Worias. He is actually a veteran himself,
and his way to giving back to the community is
we do have a grant which is specifically for community
champions and you know, firefighters, doctors, teachers, and of course
(31:37):
the military. He actually is giving one thousand dollars off
your closing costs and it's an awesome program. You should
definitely take advantage of that as well. But other than that. Yeah,
that's that's how.
Speaker 2 (31:50):
We give back. Now, I know you guys obviously use
the Hometown Heroes. Yes, that's another one that we do.
And I know Governor Desantas had just replentyshed that with
one hundred million. Is that correct?
Speaker 9 (32:03):
That's what it had been in past years, and those
funds usually are available June first. I don't think there's
been formal announcement. Oh there hasn't, okay, not to our knowledge.
But I deserve the right to be wrong.
Speaker 2 (32:12):
But I okay, well, I think I might have read
that wrong, that that that's what he's trying to do. Yeah,
I'm sure so, and I know he's done in the past.
So hopefully that that happens with the Hometown Heroes, which
again is for your first responders and includes teachers and military.
Can they use this as well, No, it would, it
(32:34):
would be one or the other. The Hometown Heroes.
Speaker 9 (32:36):
Actually last year they open it up to all occupations,
said they do have to be employed by a Florida
based employer, though that's one caveat to it. The Hometown
Heroes does have an income restriction on it. Believe Memory serves.
It's one hundred and twenty five percent of the median
income and any given county.
Speaker 2 (32:55):
Okay, you do have to pay those funds.
Speaker 9 (32:58):
Back regardless, So if you ever sell it refinance, like
if you sell your house, they will reduce your net
proceeds on the sale by whatever amount you got is
down payment assistance.
Speaker 2 (33:08):
But it's still a great program for those. Well, it
is great because I mean, also, you know, with what
we see and we know this market is coming back,
you're gonna you're gonna have that home. You're you're gonna
have that piece of real estate to also sell at
that time to get into another one and be gaining
all that equity even with paying that back correct or
(33:28):
retain the house use it as a rental property. I mean, yeah,
we're talking all right, So talking about that, Tell me
about investment ones.
Speaker 3 (33:40):
Oh wow, we have several.
Speaker 9 (33:42):
Yeah, we can. We have many options, some of which
are catered a lot a lot of people that are
investments that have a W two job. For instance, if
you're in a primary residence, you might be maxed out
on your income already, so you might have to think
of a different way to qualify to buy investment properties
and build your portfolio. We have an investor loan. The
(34:03):
acronym is a DSCR. Basically, you need about twenty percent
down to buy an investment property, and you're not using
your income to qualify. You're using the rental income or
prospective rental income based on comparable rentals in the same market.
Speaker 2 (34:20):
To qualify, the.
Speaker 9 (34:23):
Proposed rental income has to be equal to or greater
than what your principal interest, property taxes, and homeowners insurance
will be on the property that you want to buy.
Speaker 2 (34:36):
So it has to be able to carry itself.
Speaker 9 (34:37):
Correct and then you can qualify and you can still
build your portfolio even if your W two income or
your ten ninety nine income doesn't show enough income for
you to qualify.
Speaker 2 (34:47):
Otherwise, is there a limit on how many properties? No?
Speaker 9 (34:52):
Okay, well, it depends on the wholesaler. We have twenty
different wholesale lenders that we go through. Some have overlays
where they limit your properties.
Speaker 2 (35:01):
Some don't. So that's why I was asking, because I've
had questions about that.
Speaker 9 (35:05):
Yeah, so we we try to find a way. We
try to we try to cater cater to every individual
buyer and find a solution to get to the finish line.
Speaker 2 (35:15):
Love it and what kind of interest rates.
Speaker 9 (35:19):
On those a little bit higher than a conventional rate
to really a percent or so. I closed on a
DSCR loan that I just mentioned last month. They were
at eight and a quarter on a three year fixed.
Rates have come down since then. I think Maria may
have priced went out the other day. It was in
the high sevens. They can have a prepayment penalty of one,
two or three years, or we can we can get
(35:41):
rid of that prepayment penalty by paying a little higher.
Speaker 3 (35:43):
Rate, okay, And you could buy the rate out right,
which is nice.
Speaker 2 (35:47):
Yeah, And then of course you can refinance as little later, yes, sir,
you can. You can always refinance, yeah, which, knowing what
we know about the real estate market now, would be
the time to be adding to that portfolio. Correct. And
there are deals to be had out there. Yes, I
wish you know, I could see you know, well, yes
or no. But I do remember the day I sold
(36:09):
a lot of fifty sixty thousand dollars homes here that
were three bedroom, two baths with a pool. Yeah, I
wish we would have lived down. It wasn't that long ago.
It seems like, yeah, time is flying, but yeah, my goodness, Okay, again,
how do they get a hold of you? Because I know,
I mean that one got me excited. So yeah, they
can call.
Speaker 9 (36:29):
I gave my cell phone number earlier, so we'll give
Maria's number six one four three zero nine two zero
four to two or contact us on Facebook at spouses
who Finance houses.
Speaker 2 (36:41):
And what were you saying? Call her if it's after
six pm, especially weekends.
Speaker 9 (36:49):
Right, Maria's Maria is an early riser and she works late,
so anytime.
Speaker 2 (36:56):
Yeah, you guys are always working. Anything else we need
to know what anything hot about?
Speaker 3 (37:01):
Well, what I have been noticing is there's a lot
of people that are coming down the pipes that are
looking at investing in multi units. Oh the phone call, Yeah,
they're awesome. And I know we talked about affordability. And
here's the really good thing about these multi units. With FHA,
you could actually put as a little as three and
a half percent down and you could use the income
(37:25):
at the other units to be able to qualify. Qualify
you if you can't qualify by yourself on your only income,
but we would take the income from the other units
seventy five percent of what they are whatever the going
market rent rate is. On those units and actually use
it to help you qualify to be able to purchase
a multi unit. And it's an awesome way to build
(37:46):
your portfolio. So if anything, that's another thing that you
guys should definitely look into, you know, because we're all about,
you know, wanting to build our wealth and our portfolio
and hopefully be able to retire sooner than when we would.
Speaker 2 (37:59):
You know, no better place to good than real estate.
I'm not saying it because I'm a real I was
raised us, right, We've seen it time and time again. Yeah,
I have to ask on that, and I know we're
bumping up against the break here, but I have to
ask what about new construction multi unit? Do they offer
anything like that? And the reason why I'm asking because
I've had so many calls people wanting multi ye and
(38:21):
there there, this isn't the need to pick from.
Speaker 9 (38:23):
Yeah, that falls more in multi unit. I'm assuming you
need more than greater than four units.
Speaker 2 (38:29):
Yeah, I'm talking more like fifteen to twenty. Yeah, that's
in the.
Speaker 9 (38:32):
Commercial real estate realm, which is a different, different side
of lending. So we need residential typically up to four units.
But yeah, I mean Marie and I have even explored that.
But that's that's where you need to get a commercial
lender involved.
Speaker 2 (38:46):
And I'm sure you know yes, correct me, So we'll
get you there one way or the other. Correct, we will.
We will map out a plan. Awesome, all right, you
guys have time to hang around. Sure, Okay, let's go
to break saying and we'll come back. We're gonna talk
about some hot listings and uh, you know, your next
home may be in that stack. So we will see
(39:06):
you on the other side of the break.
Speaker 11 (39:07):
Common sense tells you when it comes time to sell
your home, you need to trust the best to get
you what your home is worth. And the best is
Matthew Patterson. Take Eric for example. Eric recently worked with
the Patterson Group and so that he was very impressed
with their teamwork and the results that they were able
to achieve for him. When you're ready to sell your home,
you want to work with the best, and that's the
(39:27):
team at the Patterson Group because this is their home too. Listen,
Chuck britten On behalf of my friend Matthew Patterson, the
Patterson Group A Keller Williams. Matthew is the only person
I would trust to buy or sell my home in
Southwest Florida. Find out for yourself why Matthew and his
team have over five hundred and fifteen five star Google reviews.
Give him a call today at nine four one six
(39:49):
two one eighty six hundred, or just log down to
Matthew Patterson dot com. That's Matthew Patterson dot com and
start packing because you will be moving.
Speaker 8 (39:58):
Your home sales down. You call Matthew Plotters, go to
Matthew platsm dot.
Speaker 6 (40:06):
It's the little things that make a big difference. That's
the motto of Oak and ink Land and Title Company.
Picture this a seamless, stress free closing where their expert
team will guide you through the closing process from start
to finish. They understand that every home purchase is unique.
That's why their personalized service insures your needs are met
with precision and care. At Oak and ink Land and Title,
(40:27):
you aren't just a customer your family. Call today at
nine four one five zero zero five five zero nine
or online at Oakandinctitle dot com.
Speaker 1 (40:36):
The local organization CARE, the Center for Abuse and Rape Emergencies,
needs your help. Care provides twenty four hour hotline services,
twenty four hour rape crisis hospital response, and victim advocacy.
This organization has helped thousands of people, providing shelter, support
and counseling. Donate or volunteer today call nine four one
(40:59):
sixty nine five four nine nine or donate items at
their reuse store, Kenilworth Boulevard, Port Charlotte.
Speaker 10 (41:07):
Our veterans risked it all to protect our freedom. One
of the best ways to say thank you is to
volunteer to support them at a time and history where
kindness is a virtue. Volunteering at a therapy bag event,
teaching a craft class, or simply helping veterans at a
hospital means a lot. For over forty seven years, Help
(41:27):
Heal Veterans are not for profit organization, with the support
of citizens like you, has created manufactured and distributed therapeutic
art and crafts projects for our veterans and military at
no charge to them. As a National Veteran service organization,
Help Heal Veterans supports VA hospitals, patients at home, and
(41:48):
our active military. Together, Help Heal Veterans and volunteers like
you have delivered over thirty two million therapy kits to
injured and recovering veterans. To volunteer or learn more, visit
heel vetts dot org. That's heel vetts dot org.
Speaker 8 (42:07):
Your home sales down when you call Matthew Patterson to
Matthew Patterson dot com.
Speaker 1 (42:25):
It's eleven forty eight here on a real estate exposed
at NewsRadio w CCF. The hot listings are on the way,
and just wanted to give the phone number out one
more time, nine for one six one eighty six hundred
for the Patterson group. That's nine four one six one
eighty six hundred, or like the song says, go to
Matthew Patterson dot com. That's Matthew Patterson dot com. Let's
(42:50):
get back to the show.
Speaker 2 (42:51):
No, the song the jingles says to start packing because
you will be moving. So we're moving the offices right,
And the guys go, oh man, that's your jingle out
here all the time your home sells. So all day long,
I'm teasing him, you know, and they're like, I can't
get that thing out of my head. I said, that's perfect,
(43:11):
And of course I asked all of them if they
need to buy or sell home, and so we had
a good time with that all day and I said,
you know, I just can't get out of my head,
you know, start packing, because I said, we've already packed
and we're moving. We are moving and moving and moving
to move that many offices and set that back up.
(43:33):
All things say is God bless my team. They were amazing.
And Matthew's movers I will give a shout out to him.
I love that guy. I've had him on before. Of
course we use Matthew to move us and they did
a great job. So those guys hustle. And by the way, Matthew,
(43:53):
I did plan that as you can tell, which I
didn't plan it. But why you had cool weather. So
you're welcome, all right. So let's talk about some some listenings,
some hot properties. I tell you what, we are blessed.
We have got some great homes. And next week you're
definitely gonna be listening because I have signed several this
week that we'll be talking about next week. A couple
(44:15):
of them I have a prediction will be gone in
the first week. I really believe that because they are
just amazing properties priced appropriately. So first we're gonna go
to tell you what. Let's go to three to one
zero zero Magnolia Way and Ponta Gorda. This is in
three three nine to five zero, Charlotte Park. I have
(44:37):
got a two bedroom, two bath, one car garage, fully
fenced backyard, private doc. This is actually a good friend
of mine's home and so I say that to say
I've been there many times. It you know, it did
take on damage from the hurricanes. So he did like
he always doesn't and and everything he does, and redid
(45:01):
the entire place. It looks like a new home. It
has a very large screen LINAI that you can set
out there, enjoy, soak in the hot tub, check out
the water, jump in your boat and you're out. You're
out fishing no time. That's what he loves to do.
So this one is being introduced to the market at
four hundred thousand and it is definitely a show stopper.
(45:25):
Next we are going to let's see, let's go two
zero four zero Willehemmick Circle, Unit two O eight. This
is in Deep Creek. This is a three bedroom, two baths
with a car port. It is twelve hundred and ninety
three square feet under air lakeview of Heritage Leah in
(45:48):
Heritage Like Park, second floor condo. To have that lake
front view is awesome. Hurricane impact window windows with transferable warranty,
twenty twenty window blinds two, twenty twenty AC, twenty two
updated flooring with the luxury vinyl that so many want,
twenty four updated ceiling fans, twenty four master shower, guest
(46:11):
bathroom tile. So everything's done. Just come and enjoy yourself.
Introduce the market. Two hundred twenty five thousand, built in
two thousand and five. It's ready to go. Next, we're
going to two two eighty one Tobert Street in Port Charlotte.
This is a three bedroom, two bath, two car garage.
It is sixteen hundred and two square feet eating kitchen,
(46:33):
No HOA fees, no flood insurance required, so you can
keep that cost ownership low. It's got a twenty twenty
one roof with a transferable warranty replace, twenty twenty one skylights,
twenty four water heater, twenty four water treatment system, irrigation system,
and twenty one HVAC or air conditioning system. This one
(46:54):
is introduced to the market. Wait for it under three
hundred thousand. Two hundred and eighty five thousand is where
it's introduced. That do you do the loans for that? Todd, Yeah,
I thought you might. We would okay, all right, next
to that for myself. Okay, that's why he was thinking
so hard. All right. Four to three zero zero Riverside
Drive Unit ninety seven, Nick Greth is just listed this one.
(47:17):
It's in the three three ninety two area, two bedroom,
two bath with a carport. This is a manufactured home.
It is waterfront, that's right. And uh a private dock
with eight thousand pounds remote control boat lift. So this
is a fifty five plus community of River Forest. So
(47:37):
you get the waterfront age, double pane windows, additional storage,
twenty sixteen metal roof. I do love my metal roofs
twenty twenty one AC and uh, you're ready to go,
Like I said, waterfront age eleven hundred and fifty two
square feet priced at two hundred thousand. Next, same community.
(47:59):
Now we're at forty three hundred Riverside Drive unit or
number eighty three, two bedroom, two bath, car port twelve
hundred and sixty four square feet, built in two thousand
and eight. Again, waterfront twenty twenty one roof, new appliances,
hurricane impact windows, surge protection kitchen, reverse osmosis system so
(48:20):
you don't have to mess with that bottle of water
anymore one hundred ninety nine thousand, and I'm gonna start
moving faster because I see the clock. A ticket one
sixty seven Mocha Core. This is in Deep Creek, three bedroom,
two bath, two car garage, seventeen seventy nine square feet
pull home, a family room, oversized cornered lot. I lived
(48:42):
in Deep Creek many a year's very low hoa fees
twenty nineteen, roof twenty four AC twenty two. The pool
was resurfaced, screen front entry. Just a great community, beautiful home,
introduced to the market at three eighty five. I think
you could probably finance this one as well. This one's
(49:03):
at four to four six zero North Shore Drive in Pontagorda.
It is a three bedroom, three bat two car garage
built in ninety four on the on the harbor, so
beautiful water views. It is a pool home, oversized with
one hundred feet of water frontage right on the Peace River,
(49:25):
brand new dock. And again we have virtual tours of
all of these, so if you want to check that out,
and of course you can call us as well, but
you can see a great video walk through tour Metal
roofs in twenty twenty two twenty twenty four Doc twenty
three thousand kW generator with propane tanks, fireplaces, separate water
(49:49):
meter for the pool, irrigation and dock. The pool has
an auto filler so you don't have to mess with that,
and a cover three zone AC Introduce to the market
at one point six min. Next we are going to
one five zero nine zero Buswell Avenue. What a doll
of a home right here, three bedroom, two back, two
(50:09):
and a half car garage. You can open those doors,
you can put the tools in there, you can have
your toys in there, which is awesome. Just introduced to
the market nineteen and fifty four square feet under air,
no hoy fees, no flood insurance required. Twenty twenty two.
Rough you've got the kevlar shutters, fully fenced yard, blush, landscaping, screen,
(50:33):
front entry and this one's introduced to market at three
thirty five. Are you okay saying? Okay? All right? Next
we've got a vacant lot. That's right, you can build
your own home thirty five hundred Marsala core and Pontagorda
three three nine five zero. This is in PGI, Section
fifteen of PGI and it is sell but water access
(50:55):
to Charlotte Harbor, oversized waterfront lot one hundred and forty
feet of water frontage, so you can definitely put those
toys out back and be quick out. Three hundred thousand
is what that piece of dirt is on the market for,
and then you can build that dream home. Four to
two nine Dorchester Street. This one has just been just
(51:18):
went on the market. Three bedroom, two bad two car garage,
freshwater canal. Beautiful to set out back of this home
and especially in the evenings. No hoaps, no flood insurance required.
Twenty twenty one, rough fruit trees, wood fenced. It does
have a dog run for you dog lovers. Screened entry,
(51:40):
freshwater canal, eight by eight wood dock and fourteen hundred
right at fifteen hundred square feet under are fourteen ninety
five and it is on the market for three hundred thousand.
Next we're going to seventeen two four to four O'Hara Drive.
I fell in love with his home the moment I
walked into it. It has the up lap, you know. Now,
(52:01):
this is a newer home built in twenty eighteen, but
they've done a lot of custom work to it. It
is so nice it's got the if you've seen it online,
it's got the fire pit going. I just love this house.
Three bedroom, two bath, three car garage. It's got a den,
oversized cornered a lot, no hoa fees, twenty eighteen roof,
oversized circular driveway, workbench with shelving in the garage, hurricane shutters.
(52:25):
Introduced to the market at four to twenty five. Next
we're going to one fifty eight marin Er Lane. This
is in Rotunda West, three bedroom, two bath, three car garage,
freshwater canal in Rotund to West. You've got twenty twenty roof,
hurricane impact windows and doors, power storm shutters on the
Luni Generacs home generator which love having a generator, garage, ceiling, storage,
(52:50):
outdoor kitchen, aluminum, fully fenced backyard, pay for driveway. Introduce
to the market at six thirty five. And I can
tell you, Uh, this home is a beauty two five
two zero two Chicilea Avenue. If you are a car collector,
you have toys. Uh. It has an additional garage that
(53:12):
is that is extended with the wood shop. Introduced to
the market at three forty three.
Speaker 1 (53:21):
Wow, that's some amazing homes.
Speaker 2 (53:23):
Right there.
Speaker 1 (53:24):
Once again, we'd like to thank everyone for listening to
this edition of real Estate Exposed here on news radio
w CCF. Don't forget number to the Patterson Group nine
eighty six hundred or go to Matthew Patterson dot com.
Thank you everyone,
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