Welcome Home with Guardian Savings Bank 4-19-25

Episode Transcript

Speaker 1 (00:07):
Good morning, Lex and Senior listens to a welcome home
show by Guardian Savings Bank. I'm Larry, Frank Tim Adam's
in here this Saturday morning with you. I hope everybody's
having a good weekend. Weather it's in pretty good shape.
Should be a good day tomorrow for Easter as well.
So we hope that everybody's having a good weekend and
enjoy the time and tim The market closed what at

(00:28):
two o'clock on Thursdays. There wasn't any news on Friday
on market cloth ten year treasury clothes at four point
three three, and so that's you know, rates are going
to obviously be the same when we open up on Monday.
But all of that stuff, you know, coming into holiday
weekend happens like that. That's right, and it's been happening

(00:50):
like that for a long time, Larry. But really uncertainty
still drives the market right now. And I didn't look
on have a market finished on Thursday, but right now
we're just seeing a lack of volume, Larry. So investors
are very hesitant on which way to go or just
getting them all together right now until kind of things

(01:12):
get a little more clear about this tariff program. That
we're trying to initiate. Well, I know that the part
of this stuff is that the people are hedging that
something's gonna be bad. Pricing. I don't think rich should
be what they are. I think they're higher than what
they should be. That there's some of these lenders are
planning on something going bad. I don't know if they're

(01:34):
pricing themselves out of the market for no volume or
just if they're going to take the risk on doing it.
So that's kind of odd to me. But you know,
that was what John Schmidt said in one of these letters.
He said, you know these guys are they're heading you know,
rache are higher than what they should be based on
what the bond market's shown in the past. And he
says that they're just skeptical on what's going on at

(01:54):
those tariffs and stuff they're gonna they're gonna take effect,
and there's this stuff going on. But I think I
think eventually, you know, it's it's I think we're going
to be okay. Well, the Federal Reserve keeps, you know, inflation,
inflation will we may make a correction in bonds when
inflation is under control. And from what I understand, inflation

(02:15):
was somewhat better last quarter, and I just saw an
article on TV and said that eggs are down from
eight dollars a dozen to three. Hopefully everybody can afford
to buy eggs. You know, it just depends on, you know,
what's important to you. We watch the bond market. That's
where we make our money and try to help our

(02:36):
clients with good advice. People that are buying food all
the time and take more attention to that, and there's
more doing that than anything ever. But I can't think
of you know, just there's so many This depends on
what's important to Gas is a little cheaper too. I
think it's going to settle in. We're going to be okay.
And I think that, you know, as the summer goes on,
we're going to see some improvement in the market and

(02:57):
we're going to benefit from it. But right now, still
not a bad im to venture into getting qualified from
home because there's not as many borrowers with the rates
being what they are, and you can marry the home
and date the loans. That's something else, Johnsmith says. But
if if someone were to ask you what the long
term prospect of mortgage rates and specifically, I would generally

(03:19):
take the view that I hopefully they're going to go
downside because the unknown hint here Larry has since twenty
nineteen and twenty during COVID, the Federal Reserve was the
biggest investor in bonds and they've all but just stopped.
And so there's one part of the puzzle that we
have no idea what will transpire down the road. But

(03:42):
knowing that the Federal Reserve can manipulate bond prices by buying,
and they're not buying right, and so they they quantity
easy and I think is what that was called with
correct and they say that they're not going to do
that again, but I think that I don't know, we'll see.
I think the rates should be better than what they're

(04:02):
I think they should be settling around five. Well we
know it's not a direct correlation, but they do anticipate
three fed fun rate cuts in twenty five. And then
as soon as they say something like that, everybody has
a knee jerk reaction. It seems like it's just I
just think we should be better rate. We've done a
lot of loans, we've got a lot of people buying
homes right now, Tim, you got it. We all got

(04:22):
all the loan officers at our bank have people buying
stuff and doing doing things, you know, And even with
the rate at six eight seven five on a thirty
or fix, you know, people are still doing it. When
when the race come down, we can refinance it for
eleven hundred bucks. That's right. And you had sent me
an email earlier this week home sales and etcetera Kentucky

(04:43):
that lived by the Blue Bass Association and real church.
But I didn't read it, so boil that down for me.
Well what it was, Tim's. It came from one of
the realty group in town and they sent it out.
But it had Madison County, Fayette County, Jasmine County, Bourbon County,
Clark County, and Scott County, the sales for the last

(05:04):
three months, and the price ranging so on and so forth.
Let's see, let me see if I can find it, Tim,
But I you know, it's pretty interesting. I couldn't get
the print off right and had it printed up, and
I don't know what this thing is, but let me
see here. But it was a great information. But all
in all, it was showing that sales are fairly strong
this spring. Yeah, I mean it was it's the uh

(05:28):
I was. I was pretty shocked at the median house
price in Scott County. I don't know if I should
be or not, but I'm like, wow. You know, it's
a numbers game for us, Larry, and obviously, if there's
a lot of people out there that are buying homes
right now, we want to be in the game. So
I think we're seeing that on our volume sheet this
in the past few weeks that we're seeing a lot

(05:49):
of loan applications coming in a Guardian Savings Bank. And
that's good news because we have very low cost if
you meet the if you meet our guidelines, and that's
we're looking for a seven eighty credit score and you know,
twenty percent down on a purchase. But we have other
programs that only require three percent down for a conventional
loan that we service. So yell it to yourself to

(06:11):
call us if you're out there getting ready to pursue
a home, get preapproved. We may not have to pull
your credit right away to give you a loan estimate.
Because Varners today, Larry pretty sophisticated on what they can
get online as far as their credit scores, I know,
like every month with Discover they send me a credit model,

(06:33):
it might not match up correctly with what we the
information we get from TransUnion, Equifax are experience that it
could certainly give us enough to say, here, we can
do this if Yeah. Now, I had a situation where
I had a kid that you know, we were rolling
right along with it, and he had very limited credit,
but he had good credit and he had one was

(06:54):
an authorized user, you know, and I didn't. I think,
I know that we have loans go through with that
scenario with authorized user, But because he only had two
accounts and one of them was an authorized user one,
they're like, given, couldn't get an LP accept And I
was I just, you know, hell, I've been doing this
a long time, tim, and I was like it's new
to me, but you know, and I'm gonna be able

(07:15):
to still do the loan. But I mean it just
I was like, I was like, I must be having
people with five or six accounts, several of them they
pay for and then that it's not a factor. But
because he has such limited credit, but he's you know,
great borrow, We're going to get a good house, some
nice loan, but well, you have to do some credit.
Gotta have it. Did you move into an f ah
a loan or you can do he can he can

(07:38):
get a co signer if he needs to. We love
the loan. Or he can do an arm okay, And
I said, if you do the arm, you're still calling
the shots. You don't have everybody else tied to the mortgage.
I think the rates are going to go good. The
guy's sharp as attack. He does numbers were living, so
he gets it. You know, we're just I just hid
him out of left field with that issue. And I
was like, man, you know, it just caught me off
guard because we see authorized users on there. Yes, I

(08:01):
got my daughter's credit file started right. Well in the
scheme of things, you know, that's Guardian's money, and we
can operate by a different guideline than our investor, Freddie Mack,
who you know who purchases most of our money or
our loans. But we service them, that's the key, and
we do a good job of service them, and that's

(08:21):
really our closing costs are what they are. The payback's
truly in the payback. You know, you can call them.
He can call me or Tim or Alex or Jamie
or whoever, and you know, find out, you know, what's
going on with your estra or whatever. I mean, we
service those loans and three and a half million I think,
isn't it. Tim? Yep, that's a lot of servicing. We're
a huge machine in our area. We dominate Cincinnati, Northern

(08:44):
Kentucky and now Lexington. We have for going on seventeen
eighteen years here in Lexington. Bank was chartered in eighteen
ninety five in Cincinnati. Hey, the CD rates are dropping.
I don't know what everybody's got going on, but we
were talking about that a little bit this week two.
Because that's a good sign, you know what I mean.
When that starts to happen, things are going to start

(09:07):
trickling on to the rest of the money out here
that people are using. And we've seen it happen over
and over. But you know, we had to make a
decision with some money. We had to on one of
the committees we serve on and we had a long
conversation with several different people and it's but the CD
rates are dropping, and that's a that's a plus. I mean,
it's you ain't getting as much on your money, but

(09:28):
the money ain't gonna cost you as much either, and
you don't lose anything. I don't know, there's stuff moving
behind the scenes. I thought it would be quicker than
what it is, and I'm just a little impatient. I guess, tim,
we may look back like we did in COVID and say, well,
maybe we left race too low too long, and then
we saw this radical, you know, rate increase, and now

(09:48):
maybe we're going to say, hey, we may have kept
rate too high too long. Yeah, I mean it's gonna
I don't know. I just think you and I've watched
this a long time, and a lot of the stuff
that in the numbers we thought were showing this should
benefit us on the process of rate drop didn't. Didn't
hold water for the first time ever in our lives.
And we're sitting around scratching our head. You know, hey,

(10:10):
we were just waiting for something to go and then
it just never would never would budge. But you just
you know, we rid it out. People like I say,
we still have a lot of applications. People are still
buying homes, you know, That's that's what we're here to do.
People will still participate, and we're going to stay right
with them. And do it with them. I keep it
going right on down the line, and when they drop,
we'll refinance them. That's you know, that's what my strategy is.

(10:34):
But some some of my customers don't seem to think
that they're going to go down. So and I'll tell him, well,
that thirty year picture right now, it's just an insurance policy. Hey,
but Clarre, you can refinancy into one of them. I mean,
he's going to have relatively the same costs whether he
does the one year at six and a half or
a solid thirty year fixed at whatever six and seven

(10:54):
eighth or six point seventy five. We've been we've been
floating around there, but in that area. But whatever whatever
he wants to do, if he wants to take the
insurance calls, he's take tally high rate. Right now, we're
gonna build a refinancy either one of them. If you know,
we mightgically go to five and a half in a year.
You're exactly right. Hey, we're gonna take a break and
we'll be right back. You are listening to Welcome Home

(11:15):
Show by Guardian Savings Bank. I'm worry freaks. Tim Adams
in here banks over a day from nine to one
when them is eighty five nine eight nine nine one
nine three six. If you listen the Welcome Home Show
by Guardian Savings Bank on the news reading w LAP,
you're back this on the Welcome Home Show by Guardian
Savings Bank. Hey, we're open to day from nine to one.
Whe numbers eight five, nine, eight nine, nine one nine

(11:39):
three six. That's in Hamburg South. Then drive is eight
five nine two six three three three three five, so
that's over Run South and you'd give me give him
a call over there, and we got the same the
same programs. So wherever you're close to whatever, if you're
comfortable with, if you dealt with me or Tim or
anybody that pass calls on our cell phone, we'll have
a problem with that. Get them all the time, don't we.

(12:00):
That's right. And if you're up in Louisville, we've got
a brand new branch on the Hurstborne Parkway. We're proud
about that. Yeah, we did a lot of business over
and we'll continue to grow it and we are happy
to be in that area. But I found that information
you were looking at on the market reports the first
three months of the year, Tim, and it's pretty interesting
and I'll go over some of these counties. I got

(12:22):
them the ones I was telling you. So Fayette County,
ninety eight percent of the homes listed in January February March,
ninety eight percent of them were got their asking price
median sales price. And in the Fayette counties three hundred
and twenty six thousand, average time on the market is
nine days. In Fayette County. Eighteen homes sell for over

(12:43):
a million in Fayette County, while most of the homes
obviously are in the you know, three fifteen four or something.
That's why the median house is three twenty six. Jessmine County,
seven percent of those people get their asking price. Time
on the market's fifteen days. The median sales price in
Jesuman County is three forty three. They had six homes

(13:06):
closeding three months that are over a mial. No, and
you wonder what kind of mortgagees those people. But the
next up we have Scott County. Now check this out,
median sales price four or five six and ninety nine
percent of the time they get the asking price on
the sale. Average time on the market in Scott County
is twenty seven days. That's why That's why Larry talks

(13:30):
about buying the home and marry the home the home
and date the long loan, you know, because Larry, what's
going to happen here? If we do it twelve months,
sixteen months to rechs dropped down in the fives, we're
going to have a whole new crop of refinanced clients. Absolutely,
and we'll be ready all right. So here's Madison County.

(13:51):
The median sales price in Madison County's two to seventy five.
Forty nine days is average time on the market and
ninety five percent of the time they're getting around they're
asking price on the sale. They didn't have anything sell
over million bucks in Madison County. Here's Woodford County median
sales price three p fifty four to two twelve days
on the market gets it done in ninety nine percent

(14:13):
of the time. You get what you ask for your
on your home listing. Isn't that crazy? Here's two forty
one to five Clark County. Eighty nine percent of the
list price is met in twenty seven days on the
market in Clark County, so it's obviously still a hot
seller's market. Bourbon County ninety four percent of the listing
prices met median sales price one ninety three to nine.

(14:37):
Average time on the market is nineteen days. I'm just like,
when I saw that, I just thought it was, you know,
as rates being what they are and the stuff going
on like it is, and people of worse. That's why
we still have applications. We're staying busy. Stuff's going on.
People might not believe it or or just wait for
something else to shake loose. But the longer they wait,
guess what, tim they ain't make any more land in

(14:59):
the homes. Prices are going up so with you and
it all the time, and I'm gonna wait for it
to get the five before I buy something. Really, what's
your price are in two fifty? Okay, when it gets
down to about five, it'll be about to eighty. I'm
good luck for ninety one. Yeah, I'm just saying, you know,
I mean, I'm just like, if you can do it,
do it. I mean, there's other factors people have obviously

(15:20):
that they don't and I get it, but i mean,
I'm just like they keep you know, I'm gonna buy it,
That's what they say. I gotta wait for the rate
to get to a certain point if I'm gonna do it,
you know, we can only lead them to the water, Larry,
and we can't make them drink exactly. Well, bless what
the business we do have, and we're proud of the
business we built in Lexington and central Kentucky. And we

(15:40):
couldn't do it at the people listening to radio show.
The people call us that come back to us to
refirst our clients. You know, it's just a It's a
great place to work and be a part of as
far as I'm concerned, and I'm glad that, you know,
we do what we do with whatever. The rates are
very big times and we're just sitting around maybe on
an even watching a basketball game. We're on the weekend.

(16:00):
People call the same time, don't they tim They can exactly,
but I mean evening, you know, nine o'clock at night. Hey,
I'll talk to them. I got two kids in college, Larry,
I moonlight. You got to this being a radio show host.
Don't pay my bills, a whole lot of them, I
got you. It's something glamorous as you might think, right, Larry, Well,

(16:23):
you know it is what it is. Hey, We're gonna
take another break. You listen to Welcome Home Show by
Guardian Savings Bank. We're opening today from nine to one.
One numbers eight five, nine, eight nine nine one nine
three six. It's over at Hamburg. We're gonna take a break.
We'll be right back you listen to Welcome Home Show
by Guardian Savings Bank on news Radio six thirty W.
L A. P. Will be right back your bank. Listen

(16:44):
to Welcome Home Show Larry fraiks Tien Madams and you're
with you this Saturday morning. Hope for everybody's had a
good weekend ready for Easter tomorrow. Looks like you're gonna
have good weather, be able to get up and do
what you're gonna do outside if you need to. But
other than that, I'm I think it's going to be
a big weekend. So hey, we're open today from nine
to one. Phone numbers eight five, nine, eight nine, nine
nine three six. That's here in Hanburg. Southland Drive is

(17:07):
eight five nine two six three three three three five.
So if you can hear us, you can call us
and we'll be glad to help you. We talked a
little bit about credit the first session and talk about
home prices the second part of the show, and Ken,
I don't I don't know what more. I mean, we
could talk about credit and some of the qualification, how
you call in and get an application and stuff like that,

(17:28):
but what else is going on? Well, of course we
still got Keenlan and still the Fall or Spring meet
is going strong, which is all always a prey load
to the Derby and all the derby contestants are have
we'll be entered here leading up to the first weekend

(17:48):
of May or the Kentucky Derby. But there we all
we do are going to have an event here locally
at the Bluegrass Stockyards out off the interstate Larry on Friday,
Derby Eve. This one is Blue Jeans, Boots and Bulls
at the at the Stockyards Bluegrass Stockyards, and the event

(18:09):
will start at five o'clock and featuring live music including
but not limited to our good friends Boogie Gee and
the Titanics. Clarry. Oh yeah, so that sounds like a
fun time. Get online there at the event right dot com.
Go on and google the Blue Jean, Boots and Bulls event.

(18:30):
They've got a lot of space out there. I think
it'll be a really good time. There's gonna be food,
there's gonna be beverage and there's going to be live music.
So absolutely absolutely all sign your boots. We always try
to promote local community events and this sounds like a
really good one. And get it gets your Derby gets

(18:53):
kind of get the Derby fever going early on Friday
afternoon and you can go at five and you know,
party on. It's a big deal. The Derby is every
year too. Let's it's a Kentucky holiday, no doubt. But
I hope that the weather's good, you know what I'm saying.
It seems like the last couple of years the weather's
been a little tricky, been wet. Hopefully they'll have good
weather for the Derby as they do tomorrow for Easter.

(19:14):
That'd be a blessing. But you have you scouted any
horses at all yet or looked at any I really
have it yet. I want to make a last last
push because it takes a while to kind of study
these three year olds and where are they coming from?
Because these are the top three year olds in the country,
and they come from all over the country. They come
from Santa Anita, they come from Aquaeduct or New York, Arkansas,

(19:38):
and obviously Lexington, Kentucky is the winner of the Bluegrass
Stax will be entered in the Derby this year. It's
just fun. You know, they're all three and they're all
still developing, Larry, so you know, they just turned three
by calendar, and as you know, they may not even
be three, they may be younger than three. So you know,
I think that should be posted in the racing form
and when they were actually polled, and I think it

(20:00):
So you want to go bowling dates and you say, well,
you know, this horse is just a little older, maybe
a little wiser than a horse that might be a
little younger, even though they're all still classified as three
year olds January first fell change if they were born
in March or April or whatever. So but yeah, you're right,
and sometimes it can make a difference. But it's I

(20:21):
haven't seen a whole lot either that I can, you know,
I haven't watched done any handicap at all. But I
just you know, we'll take a look at it so
that we can find and have some fun with it.
You got the party you were just talking about. Do
they still do thunder over the Louisville I think that
was canceled this year because the weather exactly. Yeah, I

(20:43):
got you. And then someone put on a fireworks show
somewhere that was supposed to kind of take its place,
but I didn't keep up with that too much. Yeah,
I mean, we've done that thing a couple of times,
but it was really fun. But I remember walking a
lot the venue and seeing the fireworks get back to
your vehicle. So I guess that's why I kind of

(21:04):
quit going. It was a challenge, you know, just the
logistics to go see them. Have you seen any big
changes in the cost of homeowners insurance on the quotes
that your people providing for you, on the loans you're
doing to them Only on my policy, I've seen a
big change, but I have automobiles incorporated in so I

(21:24):
think I haven't really noticed a trend. But we are
paying exorbitant prices for homeowners insurance. There's no doubt in
your mind that if you look at what you paid
last year, you're probably paying more. And the thing is,
I don't get a notification until it hits by account,
and you know, electronically debits every month, and I see

(21:46):
it's gone from eight seventy five to one thy forty
two a month. Larry, but that's got cars and multiple
homes in it. But you know, from that standpoint, you know, yes,
the quotes are going up, and you have to wonder,
is that from all the claims that are made from
all the natural disasters that these insurance companies are on

(22:09):
the hook for. It could be it's both. So you
do yours monthly, they just do an auto deduct monthly.
That's right, all right. So say on the escro side
of it that we don't know that that bill's gone up,
and most of our borrowers don't know it's gone up
until it comes out and then we got to pay
it and it's short, which we do pay it and
then reach out and say, hey, your bill went up

(22:31):
one hundred and seventy five or two hundred, whatever it is.
You know what I'm saying. So we don't know, just
like you're like, you don't get noticed that's going up,
and then all of a sudden hit your debit and
now I'll go and where if I was in an
escrow it would be I mean, it would be a
circus trying to have it balanced out all the time.
So we're unique in the fact that we will allow

(22:52):
you to wave escrows for insurance and you can set
it up directly with your insurance carrier and we'll do
taxes on. But that's just I like to keep you know,
I like to know what I'm paying for my insurance.
And if I was in an estro situation, I wouldn't
know what I'm paying until the bank says, hey, you're
your Actly that's exactly what I was saying. People will

(23:13):
call we service these on. People call say, hey, my
payment changed, well, your your house payment didn't change either,
your taxes your homeowner's insurance did, and then we can
investigate it and go from there. And you know, that's
when you brought it up. I was a great point,
you know, because people the desker, the bank doesn't know
until they get the bill. The homeowner that we have
a loan with doesn't know until we've got the bill

(23:34):
or they've got a copy of it finally at that time,
and then we just work on it and adjust it
and make the payment and get the money worked out
with the borrower. But we don't know until we know.
And that's the thing. You're just shocked, just like you are,
you know, when yours went up, and you're like, wait
a minute. They never said nothing. Well, but the mine's
a little different. Like I said, I'm incorporating automobiles into

(23:56):
my total of policy. And we had a claim. My
son's vehicle was a total loss and we had to
file a claim, and I just wonder, you know, am
I just paying for that claim over time? Now? Yep?
And unfortunately that you know, it don't take much for
him to be able to have an excuse to do
something with it. So basically, just loan me the money. Yeah,

(24:23):
I guess that's what it is. I mean, that's the
only thing I can see other than like you said,
or you know, or our disasters helping drive the cost
of insurance homeowners insurance up. Yeah, it's it has something
to do with it. But they went up. You know
that we knew they were going up to you know.
One of our some of our people that we deal with, said, hey, man,

(24:46):
everybody's insurance is going up across the board. And it's the
Sheriff's department, it's anybody that has insurance. It's not just
the homeowners. And he was right, And I mean it
came across now with these disasters and floods and different
things that have gone on that really nobody any control
over that will probably affect it all too. You know,
I got mine escro. You know, I ASKCRO my insurance

(25:08):
and taxes. I did it both ways. It's just easier
for me to do it. Budget it in, let it roll.
That's it. And a lot of people need that. They
need that structure and that budget. Oh I need it,
not structure. The tax bill comes right at the holidays
and this fall, and it's always good to know that
you're covered. You've already made your payments every month to

(25:29):
order your taxes and you don't have a big tax
bill do in November. Yep. And I would find myself
I could get the discount pay if I paid it
when it came out, or I could pay what is
really owed by December thirty first, and then after that
you start paying them more money. And I'm full around,
wait till the very last minute and pay them just
you know, I mean, just you just cost me money.

(25:49):
I just the helpath and I'm just going to budget
throw it in there and go on crazy. But I
mean it's just the way it is. And so I'm
not perfect either, but we do have ways of helping
people with that Escrow and taking care of them, getting
them set up and make it as easy and convenient
for you guys as possible. And you know what, any
insurance you look at, it's going to be a little
bit different in costs, but not by There's not a

(26:11):
big swing in any of it. So I don't mean
to say anything about insurance agents at all. I'm just
saying that, you know, the cost of the insurance is
just you know, it's gone up. I'm just like man,
you know again. But uh, and Tim, you just concerned
it It didn't just wasn't just me, No, I'm you know,
I'm a person my personal experience with my own policies.

(26:32):
I've seen it go up, and you know, I've been
with this carrier for a long time. So if it's
happening to me as a long term client, I can
only imagine what's happening to new clients that are getting
their buying their first home or buying a new home
and what those quotes look like. But common sense tells
me you better shop around. Call Joey Doom. He's one

(26:56):
of the best in the business. Yeah. Finding him online, Yep.
He does a good job and he and he can
shop your you know, information to several different people. Make
sure you get the best deal. He was cap debated
with one company and then they downsize and he just went
to having like thirteen companies he worked for now, you know.
But he's I've seen people have to take you know,

(27:19):
high deductibles, sometimes upwards of five thousand dollars or a
deductible to keep the premium in line, because when you
go to one thousand dollars deductible, you're going to pay more,
significantly more. Absolutely, that's a good point too, Tim. Let's
take another break. Your listener to Welcome Home Show by

(27:41):
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So'll be right back. You listen to Welcome Home Show
by Guardian Savings Bank on noon Trading. That's six thirty

(28:05):
w lap. We'll be right back. You're back, but it's
the Welcome Home show about Guardian Savings Bank. Tim Adams,
Larry Frake's in here chatting with you this morning. Bank's
open from nine to one. The phone numbers eight five
nine eight nine nine one nine three six, so if
you can hear she can call us. We've been talking
to day Tim. We have talked about rates a whole lot.

(28:26):
We're at six eight seven five on a thirty and
six and a quarter on a fifteen and it's up
significantly for what it was not long ago. It's been
up and down. Ben as Volatiles, I think I can
remember it being in a long time. But people are
still buying homes. People are out shopping, so don't miss
the boat. If for something out there, I've had more
people have to pull multiple offers, you know, on different

(28:50):
properties that they find. Tim. You know what I'm saying,
it's it's there's still a lot of people out here
moving and shaking and buying homes, so you know, don't
don't miss the boat. We can you marry the home date.
The loan will take care of you, but they ain't
make any more land. No house. He's going to go
up along of your wait, So make something. You know,
if the lower the rates go back down, they're going

(29:12):
to have more complication, folks. So it might make physical
sense to go ahead and buy now, paying for me
only a little more month, knowing that the appreciation is
probably gonna pay you back. And that's you know, averaging
what five to eight percent something like that, Probably a
little bit more. But I mean that's you know, that's
where it's at. You know, they're not making any more land.

(29:35):
You know what I saw something that they had eleven
percent less news starts on homes last month. Yes, sir,
you know, and that's all goes back to higher you know,
material cost. Yeah, everybody's worried about the terrace on lumber
and shower doors and countertops. Denver Hunt, bring my buddy
down here in Richmond that builds. He was telling me that,

(29:55):
you know, he got called from the locksmiths. The locks
for the places are going up twenty percent. The lumber
from Canada's going up ten percent, and then shower doors
was going up, you know, and he was just like, man,
it's really gonna hurt. And I said, well, you know
a lot of those people will come and negotiate or
you know, it'll all balance out. I hate it. You know,
it's but it's I think it's gonna be okay in

(30:16):
the long run. But they called them and told them
straight up. So you're eleven percent dropped. So we'll see
what happens this month. See if it stays the same.
It could you know, if it deals with another eleven
percent or you hired, then you know, people are just
gonna wait and and that may be okay. That's just
going to make the homes that are available out here
sell quicker and maybe for a little more supplying demand.

(30:36):
It is, it's just such a you know, it seems
like we've had all these interesting scenarios in our country
since COVID, and now you know we're going through another
transition period with a new administration, and you know, it's
as hard. There's just so much uncertainty right now. It's
hard for us to put a finger on the pulse
of the economy. I agree, And it's just, you know,

(31:00):
we just write it out and see what's going on.
Look at the news that we think we can trust
and believe. John Schmidt does a good job giving the
san fover Tim you study the market, you know what's
going on. I'll look at it. I know what's going on,
and we did it for a long time, and we
had an idea of what was going and we could
say it. But now some of what we used to
see and say and based on what we knew learned,

(31:21):
and that ain't the same today. You're right, we could
we could say, hey, hold on, I think races are
going to go down. Well in about three days or so,
we'll we'll lock this rate and we'd be right, or hey,
you better locked today because I think races are going
up tomorrow. We'd be right watching the bond market, paying
attention what's going on the market, and then we could
advise people in their best interest. And uh, we did
good at it, but now I don't know what's going

(31:43):
to happen. I mean that's in the news that comes
out sometimes. It used to give us that tick on confidence.
That don't that don't give the market the confidents anymore.
You know, well, this is DApp and overcome, keep going,
get the best deal we can, and we can always
refinance no prepayment penalty. Soon as rates get to the
point where you want to do it bout eleven hundred bucks,
we can refinance it. So of course, att't escros and

(32:06):
everything that should be about what your closing costs are
to get a loan done, and about any time a guardian.
I think that's right, isn't it? Tim? Around eleven hundred, Yes, sir. Anyways,
if you've got a seven eighty credit score and you're
putting twenty five percent down a purchase or you have
twenty five percent equity, we do a purchase and a
refinance about the same costs with those asterisks, And that's

(32:27):
the credit score and loan to value or equity. How
much are you putting down? How much equity do you
have in your home? So if you've been in your
home while and you know, you bought it in twenty
nineteen and you had five years to marinate there in
that home, you'd be surprised what your equity looks like now,
you know. And that's yeah, it's because the appreciation is

(32:49):
going to Tim. I hope you have a happy Easter, brother,
anybody you know. We hope everybody has a good weekend
and enjoys Easter. Tim and I are that you're listening
to us. Thanks opening from nine to one. When theer
is eight five nine, eight, nine, nine one nine three six,
give us a call to be listening to Welcome Home
Show by Guardian Savies Book on news Radio. That's six

(33:11):
thirty w l A p F Easter. Everybody