17 Burst results for "512836 05 90"
KLBJ 590AM
"512836 05 90" Discussed on KLBJ 590AM
"That way we can take seasonality out of the effect and in that ratio becomes our speed on the speedometer of how much of a seller's market or buyer market oriented. Today, there's 4100 and 90 actives. 7500 and 31. Pending that ratios, 310.56. Let's see. What did I we? We Here's last week. It was almost exactly the same 1.54. But the actors impending were almost exactly just like they are right now. The same 76. I think it's 7500, respectively. Yes, So we're in the same channel. We've been kind of in this channel for the last month whether it's been slow because of back to school or busy last weekend that, um, listing and pending activity is tracking with each other, and that's really drastically a seller's market. It's so much so a seller's market that we have been said It couldn't get below much below over ratio of one, and here we're at half of that. It may argue we feel like a slowdown. We got down 2.28 or something like that point to 4.24. So it has been tighter than this. But this is still what you'd call in the super tight category And you know, one of the things I looked up to. When people are telling me this. I went back to January and December of December of last year January of this year and looked at some of these numbers. Actually, the number of the ratio is different, but the number of actual home spending sale or it was actually less back then. So there's actually more homes being sold right now. Hundreds. A lot of pending it is a lot of things that's actually more. That's a think 15 to 1800 more than you saw four months ago when everybody said the market is just going crazy. You can't find home which you couldn't but there's actually less listings out there at that point, but What's really good to see Is that demand feature that supply and demand you're talking about that demand. Feature of this ratio has stayed very, very similar. The only difference we're seeing is the amount of active listings creeping into that ratio, which is really good writes really good, but I don't think we've ever had months like this. When there's been that many pending sales at one time, it's quite a bit. It's quite a bit and in our rent rates have really started to shoot up. This is what's different this year than last year. Is that probably starting in March of this year, the rental rates started moving up very aggressively. And so, um, this this is probably some population that either had given up on trying to buy a house or more relocation That's coming in that is reading. They're buying into the big media headlines that sell newspapers that say the market is cooling off. Things are slowing down. Well, maybe we'll rent something instead, renting is is Drastically more expensive now than it was a year ago. And we think that to some degree is going to echo back into the sale market. What do you think you're going to start seeing some data on the riddle rate increases here in the Austin area, and I guess it follow up question if you know this. What? What type of multi family, um, inventory Do we see new multi family inventory coming out? Yeah, No, we're tracking on these rental rates increases. It was 14% last month. We're tracking in the high teens year over year. Um, currently, so should I think. To come out in the 17% range. As we kind of get closure on this this past month, So if you're a person who can't buy right now, then you're listening to us and you're like, OK, I can't because I can't find a house. But if I'm going to go rent Well, my rents could They're theoretically be up 20% in the house next year, and whether the house interest rates go up right. So you kind of lose lose. So what do you do? We call it the missing middle because there's so little multi family in the small category the to to really 20 units. But this is the absolute perfect storm. Time to buy a duplex. Three Plex four plex and owner occupy it. That's the real hack for people that want to live close to town. And they want to sort of hack the affordability equation. Um, is that you can grab something now and have a your owner Occupant place the other side of the duplex. Let's say is helping you pay your mortgage, but those rents are marching up so aggressively that that's going to continue up. Um, and it's kind of an inflation hedge. Right. So we actually have a program for multi family up to four plaques where you only have to put 3.5% down to Think about that. And you could turn that into an investment couple years down the road after you've lived in it right, And you can actually help your qualify for it by the rents and the other units Annual supplement your mortgage. But let's say, Let's say you're maybe even not fixed income, but you don't expect your salary to change much. If that was something that you bought last year, if you have your renter on the other side rent has gone up 17% year over year. That's kind of indexing with you, right. That gives you some protection against forward looking forces like inflation That could cause uh, you know, utilities to go up cause taxes to go up as we go through this ownership here and, you know, we talk about jumbo loans. That's anything about 5 48 548,000 to 50. Actually, If you're doing this 3.5% program I'm talking about which is actually f h A. You can actually go up to $800,000 loan amount on that one of four place and your rates would be in the twos on something like that, with good credit Incredible on an FAA. This is a time machine question and people ask me. What would you have done differently if you know now? If you know if you knew then what you know now, I would have bought my first house would be a multi family house of some sort. You can go up to 800,000 and four plex with interest rates and Travis County so literally. Yeah, you could buy something. If you have three other units, you're living in one. We can find you something today in that they don't have that's the big question will cover the whole payment. You won't have any payment is their inventory, though. It's hard to find, but you know what? It's hard to find a single family right now that matches and so if you if you team up with People like us, right? Who say Look, it's going to be tricky. Either way, So it's at least designed the unicorn. If we're going to be unicorn hunting, you know, let's pick the one where you like the color of his warning arrow. We got a rainbow tail and the whole thing. I just design what you want. We'll get it. All right, guys, you're listening to the real estate zone. If you like to be a part of this conversation, the phone number 512836. 05 90. That's 51283605 90 questions. Comments we love to hear from you guys. Don't forget you can call or text to that number 51283605 90. If you have questions about where you're living right now, What's that market doing in your sub market? Your MLS area Your zip code your bedroom community. Give us call 51283605 90. You're listening to the real estate zone. We'll be right back..
KLBJ 590AM
"512836 05 90" Discussed on KLBJ 590AM
"Turns back up again. Everybody's putting their everybody's like, Oh, it's Austin market slowing down a little bit last couple of weeks, you know, three weeks or so seems to flow down. We're going to 1000 Miles an hour. We're only going 200 miles an hour. She'll speeding, but As predicted, even in my office already to happen during the weekend, and today, volume is picked up people thinking about buying a house getting prequalified. You know, you and I had a conversation earlier today, saying that it was a brisk, brisk weekend for people it was. We had many reports from the field in my office with over 80 agents that were saying that this weekend they felt quite a bit more activity than the previous two weekends before And so that's the conversation of you. Is there a slowdown is there? Uh, was that it back to school blip. We're going to get into that, really in concentrated details on this radio show because our listeners Appreciate that. They don't want to water down description of what the markets like They want that concentrate. Really getting the real deal. Information? Yes, real. Okay, So we're not watering it down the real Kevin bounds coming out tonight today, So let's let's pay attention. If you want to talk to real Kevin Downtown Kevin Bounds, the phone number 51283605 90. That's 5.2836. 05 90 yard. Don't forget the ever popular toll for you. Hotline 8775905525. Don't forget you can call or text to 512836. 05 90. That's 83605 90. If you're enjoying our shows, you've joined our shows in the past. You want to listen to some of the older shows What good iTunes go to Google podcast and type in the real estate zone. John McClelland or Kevin bound, Our podcast will pop up you can put download it right to your phone. Listen to it While you're hanging her out or working out that is on iTunes or Google podcasts. It is the real estate zone. Here in, um there's a It's interesting to see what interest rates have been known to everybody. The biggest question I get, and I say this all the time, as John would are interested is going to do. I don't know what they're gonna do. I have a I have a feeling I know what they're doing today. We have a general feel of the direction they're headed. Barring anything unusual, right economically. Um and they as as we've seen, they are just stair stepping up just quietly ever since we had a big drop about probably about a month and a half ago, Not a complete correction from what we saw a year ago, but definitely a rebound, and now it's just been creeping back up creeping back up again. We had huge jobs, Miss. For jobs being created last Friday, first Friday of the month and well, typically, that would be good for mortgage rates. And guess what? It wasn't. It wasn't a good thing for mortgage rates, so there was some other underlying stuff there. But it's interesting watching interest rates right now, and you and I were talking about this, Uh, little meme. That's kind of floating around the Internet right now. And it says you can buy this house before the market crashes at 350,000, right. Or if you wait until the market crashes, and that's what everybody. Some people thought their quotes. Yeah. When the market crashes, maybe you can get it for 300. The problem is that the market crashes like they're talking about. You can see rates significantly higher and because of inflation, Um and the house payment, actually, for the lower price house with higher interest rates would be more for the lower price house than the higher price house. Yes, so this was presuming, you know, at 2.75% interest rate today, or if there's a crash that corrected values to that much that it might be coupled with an interest rate that jumped up to 44 and a quarter percent something like that, But the payment, you're right. Yeah, and it's surprising because we're in this every day, but I went and double check that payment because It was more than 20% higher. On the $50,000 less expensive house. But where the interest rate was 1.5% higher. Yeah, so you know, Yes, it's fun to think about being a market timer, especially as as prices are jumping around so quickly and people were making decisions around. Maybe a lease that they're in for six more months or you know there. The people that can quote time, the market they have these pretty big swings and periods of time. I think they're more guessing. Maybe. But the thing is time. The interest rates as well, if you want If you want to gamble, do the whole gambling and start watching interest rates because it's crucial to what that end. Cost is of housing of the roof over your head. So have we seen a slowdown? Kevin, do we have that stair step that you talked about that positive appreciation? Are we seeing that at all in the Austin area? Shall we jump into stats? A little game? We can't wait for our new Listeners out there. Let's describe what we're talking about here. We like to look at Real time data about what's the market doing that pulled these an hour ago. So this is how this is. How old the news as opposed to the Austin border Realtors, who puts them there is out mid to late mid The month after month. Yeah, so the next month of the sort of cutting edge data of what the market's doing comes out of monthly reporting from Austin Border realtors that they crunch and generate reports and then they deliver it to the media outlets, and it does take until the 15th 20th of the following month before they find out so we're here. We're in early September. Uh, we're gonna have to wait if we're going off of their data almost two more weeks to find out what happened in August. That would be like buying a stock right now, but only knowing what the stock price was a month ago. Yeah, so we figured out we've used this methodology for a long time on the radio show and the listeners. We'll call in Texas and harass us if we don't share it on the air, And so we're doing well, do it quick today, but it's it's today It's what's the speedometer looked like today, and that's the total number of active listings. An hour ago and the total number of pending an hour ago. So this represents sellers who are unattached to a contract and then sellers and buyers who are attached to a contract. So there's a supply and demand ratio that we can get from that we divide those two numbers total actives and total pending is to get a ratio..
KLBJ 590AM
"512836 05 90" Discussed on KLBJ 590AM
"Bound like town. Local real estate broker. Hello. Hello, John. Hello. We also got toddy be in the house and you believe it. Yes, you do. That's a once in a while showing, you know it's like seeing Snoop Dog out. We were just talking about his car and how many miles are on it, And I said that's about two weeks. I mean, this guy drives Yeah, he's probably got many. Many uber drivers be as far as how many miles he's everywhere all the time. Yes, he is the special guest here today. All we need you is a little We need a little. What is that? A record player in front of music. And you know we cash it it? Yeah. Thanks for having me. I appreciate it, Gentlemen. Hey, What's your age? What is your instagram? Because I know a lot of people following it. You have during Covid. You're having shows on there from from home with the kids. It was a blessing. Really good in your previous life way. What years and years ago? You're at AMC, right? I was actually d. J. D. J lo in a form of recognized talk talk, But I don't even know the correct terms. You know, I'm just like, you know, Close, same ballpark. Same ballpark at Todd. Be Realty, though these days is where you can find instagram that taught me Oh, DDB Real two. There you go. Trying to be who works with Kevin 12 Rivers. That's right. Yes. Todd's towns are top guy. He's the one of the men, the numeral Uno at 12 Rivers guilty. He commonly finds himself in the top 20 list across the whole city that congratulations on the top. 50. Thank you for the platinum talk 50 those that they're going to come out here Pretty soon, We're going to see what's happening with that. But that's the secret is like you say his past life. We kind of we don't let them give it up completely. But People that are really in their sort of overly into staff, and they go crazy. They tend to do good at real estate because they take you know. He stayed up on stays up all night doing music in his quote past life, as we said, but that dedication it can describe what he's willing to do on the real estate like your nerdiness that you stay up this contemplating Steffen exactly and stuff for hours and hours in the night. And with no matter what it is that it's just to share a 15 2nd story here on the radio. Three hours of research digging in. Yeah, I'm sure that's exactly what a favor line when we start the show. Kevin and I usually look at each other time ago. What do you want to talk about? I don't know. What do you want to talk about? Where is a lot to talk about today? We're gonna talk about interest rates. Boston market. We're going to delve into different areas around town, and we're also going to take your calls about Central Texas real estate about your current mortgage situation. Phone number 51283605 90 That's 512836. 05 90 questions Comments love to hear from you guys don't forget you can also text to that number with your question 51283605 90 guys and had one of the reasons I love you. Being on the show today is that you are very active, right? And I People tell me like, what do I look forward to a real estate agent? Is it somebody that's been doing it? 25 30 years. Mike? Yeah, that's kind of important. But the most important thing is how active is that person right? How many transactions do they see on a weekly monthly basis? Because that's how you have your pulse on what's going on around town, right? You could be in this business for 30 years. But if you're doing one transaction every couple of months, you don't have your pulse on what's actually going on here in the Austin area, So that's one of the things I'm going to be picking your brain about. You know, we hear these stories out there. We hear this. You know this 100 out, there's Austin Business Journal article. Every house going $100,000 over are more right. And you know, my old adage is, if it doesn't bleed, it doesn't lead when it comes to news stories rather be a black and white newspaper or on the Internet. And so people actually throw these big numbers out. Um, you've been involved, obviously a lot of transactions over the last couple of months. What are you seen when it comes to these multiple offer situations? Is it really $100,000 on every property, or is it is it just more a little bit more? Sure. Great question. First of all, shout out to Dr D. I saw he's listening to the show. So, um You know, I think it's some situational. I think it's a different parts of town are still hot little pockets are harder than others. Sometimes I'm blown away at the amount over 100. Even And then sometimes Lately, Things have been sitting for 50 to 100 in neighborhoods that I never thought would even sell for list price. So I think you know, my goals are to do three deals a week. We're doing about 2 to 3 deals a week and I'm everywhere. So I'm Northeast Southwest. So I know a lot about a lot about Austin and a lot about every different marketing pocket. Um, and anywhere within 60 Miles. We're seeing over ridges from 10. 10 to 30% 40% I feel like was earlier this year. I think now we're easing up a little bit, and we're in that 10 to 30% range. So you know you nailed it, though. It's it's you know, we do see a lot because I do do a lot I'm writing offers. I'm seeing offers Come in, So I'm about 50% Buyer's 50% sellers. So I'm on both sides of the coin, so I actually see it both. But It's just bananas. You know, it's still been and one of the things I think that this happened back in 2000 and 67 and eight when everybody out there was a real estate investor, right. There was easy money, you know, stated income.
KLBJ 590AM
"512836 05 90" Discussed on KLBJ 590AM
"Believe me, I'm a big fan of asphalt and concrete that I'm always going to lean towards that before trains before anything, any other idea? But this Todd, the scope of this Is extraordinary. And when you and I first talked about this a couple years ago, when they when they you know, finalized a plan I was thinking then this is this is going to completely ruined the character roadkill. What? What character of okay, Leah trying to protect. I'm trying to figure that out. What it's gonna look like now is going to be the intersection of Mo Pack and 1 83. And if you've been through the wine, no kill. And yes, the traffic backup is horrible. But at least you still feel like you're in some place that has some characters some charm. It's you know, it's kind of the gateway to the hill country going through there. It's just going to be like it's going to be like Ben White. It's gonna be like Mo Pack and 1 83. There are plant there are alternate plans that have been proposed from engineers. In fact, residents of Oak Hill And I saw these plans myself, and it's a much more thoughtful plan that actually this this group that's speaking up now. They're kind of behind the curve when they got it right there kind of kind of too late to the game. They've got a big yesterday. Okay? All residents, they took their concerns to Austin City Hall text that is set to great break ground this summer on the $674 million. Okay, All Parkway. With time running out nearby residents and some environmental groups. They're standing firm and they're against the idea of building this concrete plant. This batch plan if you will, at the pinnacle campus or another location that's within about 440 yards of homes and apartments. Uh, within four within almost five football links away now. Another concern is that the planned highway expansion will threaten the water quality and thereby Williamson Creek and opponents say the 288 protected trees will be destroyed. The situation is beyond distressing is what Leslie Paul says She represents District six on the Austin City Council. And, uh yeah, we'd like to get your thoughts at 512836. 05 90 Todd and Don show I was talking to my friend Dwayne, the owner and operator of furniture market here in town, you know for almost well, almost 40 years, he says they got several 18 wheelers that have been bringing new products from their main warehouse to their showrooms. The original location of Ch 9 35 between breaker in run burgling but also At the shops and Leander. Beautiful place, You're going to find what you're looking for. When it comes to leather couches, sofas, recliners, rustic furniture. They got hides horns and some really affordably unique items. You know, decorative pieces, things like that real statement pieces and they've got something for every room in the house..
KLBJ 590AM
"512836 05 90" Discussed on KLBJ 590AM
"Those problems hadn't previously been reported, according to the Houston Chronicle, and this article continues, says if Grid operators had completely lost control of the situation. They didn't although they came close. If they did have completely lost control a situation the spotty performance of these generator units were called black Start units. Could have left Texans. Without power for much longer. Then a few days. Well, for some of us, it was about a week and a half, right? How long according to Chronicle impossible to say, though, by the grid operators own estimate. Total collapse could have caused weeks or even months. Of outages. Now, some of you I've just checked the latest with Austin Energy. There's still a handful of you here and In the Austin area that lost power from those thunderstorms that rolled through Friday night, obviously different circumstances. Right, with with down trees and power lines and so forth, But Pointing to this article in the Houston Chronicle, just underscoring all the things That we know about and we're still finding out about that went wrong during the big deep freeze. Back in mid February, and any kind of legislation to address that still. And the work's one other thing I want to comment on of all these other bills that are that are still in the works over The state capital. We know that a statewide unregulated public camping bill Has been resolved and and sent to the governor, and that's a huge win for So many of us here in Austin, for example, are not happy with the current situation. With the homeless, camping basically wherever they want and abject failure on the part of the City Council to deal effectively. With the homelessness issue. But I saw this out of the Oregonian and just wondered as You know, Phase one Phase two Phase three of the local the city of Austin plan to try to deal with the homeless camps and so forth. Is this what we're And store for Four individuals experiencing homelessness filed a class action lawsuit against the city of Portland. Alleging its contractors. Have illegally discarded their personal items when raising Encampment, so There's gonna be plenty of difficulties as The city and even the state began to Try to enforce Some of the legislation. It's now in place at the local level here in Austin, and maybe the state level come what September 1st. So our lawsuits from the homeless going to be a part of that? I asked you 512836. 05 90 here on Kale BJ lost to get to plenty of time for you to join us. Right here on Kale. DJ. Yes, the off to.
KLBJ 590AM
"512836 05 90" Discussed on KLBJ 590AM
"In the United States and put a new leader in office who fights for us all. She's been 15 years in the Virginia Legislature, protecting voting rights, fighting for health care expansion and trying to build a brighter future for all Virginians. The experience she brings up a black woman on working moms and a community leader is crucial to her ability to listen, solve problems and always up with the voices of those who have been ignored. This is the perspective we need so that no one is left out of the recovery. Let's go boldly into the future of our Commonwealth vote early for Jennifer McClelland for governor in the Virginia primary election. Or on June it paid for by Karen Action authorized by Jennifer McCall for governor. Yeah. And good afternoon Central Texas. This is the real estate's owner, weekly radio show about Central Texas Real estate. My name's John McClellan and local mortgage banker as always joined by Kevin Bound, local real estate broker. We're here live every Tuesday from 67 P. M. Right here on news radio K. L B. J the phone number If you like to be a part of the show, 512836 05 90 that's 51283605 90, or the often used toll free number of 87759055 to 5. If you like to text to us, it's 83605 90 text or call 83605 90 a great show for today. We're talking about a little bit about interest rates are gonna talk about the market as a whole What we're seeing out there. The rumors of the market and what's happening what the actual truth is, instead of the rumor mill, and we're gonna talk about some disparities that we're seeing here in the Austin market and Kevin. It's going to be a good show. I think it is going to be going out. Tim Landy on the show with us today. That's right. Tim's a partner with me over at 12 Rivers Realty, right, We've got some Let him share. I'm not going to steal your thunder. Will you share the big announcement? Maybe later into the show. And also an answer. Very question. Who are we come in for next? Dallas Dallas is number nine most populous US City. Austin just got San Jose checked off the list. Well, that's think Dallas is gonna be They're probably listening, DFW. It's not the M s a. The city limits so shitty living, so they're 30% bigger than we are. But okay, that's his next. We got a ways to go ways to get a little ways to get their booming as well. That's right. Well, that's okay. All right, guys. You like to listen to this podcast. Its entirety can't catch all of it today. Go to Google. I guess that's Google podcast or iTunes and type and John McClellan, Kevin bound that's bound like town or the real estate's owner. Podcast will pop up. You can download it onto your phone and listen to why you're hanging out of working out that is on ITunes or Google podcast. You know, when I first we first started doing our podcast, which was Out 2000 and nine or something like that. And everybody you know is your iPod, your MP three players. That's what you didn't know. That's how that's how change things have changed just in 12 years. You know, your phone now is everything and I get all my information Be Viet News, My emails. You know what the market's doing My stock portfolio. My credit card dead. My, You know, everything is right there on your phone. Now you know the real estate industry, you could get a lot of information. Off of your phone and went on all the apse that are out there from some of the big players as we all know who those are..
KLBJ 590AM
"512836 05 90" Discussed on KLBJ 590AM
"Travis County District attorney has just announced some new policies, he says. This is designed to cut down on gun violence that's occurring here in Austin, and we'll go through this step by step, and you'll want to weigh in with your thoughts on this at 512836. 05 90 just announced D a Jose Garza with these guidelines, Melinda, he says this will cut down on gun violence in Austin, and we've had a lot of it lately. We have had a lot of it lately. And he says What What he's going to do is that in a wide variety of cases, defendants are going to be required to surrender their guns. As a condition of their bond. And then they'll also be told. Hey, you can't have a gun while you're out on bond. He says. He's targeting in particular those that are accused and family violent cases. Think back to the former. What was he a Travis County Sheriff? Yes, sir. That shot and killed his ex wife and Daughter. On the young man killed the wrong man. Yes, And this is kind of what got him thinking in this way, And I'm just looking at the breakdown a different situations that they said that they'll require the guns to be surrendered as part of their bond. My first question in reading. All of this is If they're that much of a danger. Why are you giving them bond to start with just because they turn over whatever guns they may have in their possession. Do you mean they obviously committed a crime for them? To have to be put on bond to start with? Do you think they're going to follow the law? Um, you know, they're not. They should stay in jail if they're that much of a threat. Absolutely. So that's definitely my first thought. But he's talking about whether it's a family violence cases where a firearm was used in the course of the offenses, any cases where the defendant has made threats of violence against another person or entity. Of concerns have been raised about the defendant being suicidal or having mental health issues. But one of the ones that stands out to me says any case where the victim has reason to believe that the defendant has a firearm in his concerned the firearm will be used against them. This is What we talk about a lot when we talk about red flag laws, people being able to use them. Without much proof to say reason to believe. Isn't proof to me. Well. Garza is part of this movement to empty the jails. That's one of the things he ran on. In. He needs to change that thinking right away and keep more of these characters locked up. He needs to convince the judges to keep him locked up if they're that dangerous to other people. Don't even let him get out. Don't fool around with this. S so this is his big announcement today. You could weigh in at 51283605 90 call or text with your thoughts on this just announced moments ago by the DEA, and he's got the backing of the county attorney and some others, But we'd like to get your thoughts on this at 512836. 05 90. There's also movement that starting in Congress to get Dr Anthony Fauci fired several Republicans in the House or signing on to this measure, including Chip Roy. Congressman representing the Austin area. He's one of the sponsors of this bill to get Dr Anthony Fauci fired. I don't think this is going to go anywhere, but they're really starting to make a big deal out of this and push back against Fauci. Trump has indicated he thought about firing him several times. But he was worried about the political blowback. Yes, yeah, I'm with you. I don't think it goes anywhere, but I think it's interesting that we're starting to hear from more. I don't even know what you call Susan Collins. I really I don't know what you want her. I don't know what her party affiliation would be. But that will work when you're hearing Maurin Div Egil like that pushing back on these people that are leading our public health in our guidelines, saying, we have lost trust in you because You flip flop on decisions, you consult outside sources that should have no say on public health guidelines that are supposed to be based on science. You've lost us. You've You've lost the faith of the people to continue to follow what you put out and you see more of this. I think the American people were fed up well before the lawmakers were, but you're now you're starting to see them to catch catching on, and you have to do something to change the image. That the CDC has had of themselves over the past year. We still don't know the origin of the Corona virus. Don't know that we need to know the whole world needs to know. Yesterday, Dr. Fauci was appearing before a Senate committee and Senator Rand. Paul asked him about reports that indicate the U. S government was sending our tax dollars to the Wuhan lab. To do gain of function research on the coronavirus. That means they were doing research to see if they could make it more effective at infecting human beings. That's what they were doing over there, manipulating the virus to see if they could get it to the point where it would in fact, human beings. So I'm going to just play along section of this exchange, Senator Rand Paul now today is being ripped. In a lot of areas for even bringing this up. How dare he had the audacity to go after Dr Fauci? Did you see that? How? Yeah, I've seen that. You know, But how dare you? Not question the origins of this and that we are taxpayer money played any part of it. Yeah. Anderson Cooper is one CNN Rand Paul's an ophthalmologist. How dare He even asked a question of Dr Anthony Fauci about viruses. He has no business asking a question like that. All right. Here's the exchange from yesterday..
KLBJ 590AM
"512836 05 90" Discussed on KLBJ 590AM
"Laptop offers subject to restrictions and requirements. Strayer University is certified to operate by ship. And now back to the market. Melinda Show streaming live on the news. Radio, K o b. J F It is 10 33. Thank you for joining us son works easier with it. Clements Melinda is off today. Isaac question is producing at the station, doing that fabulous job of keeping everything operating and running the numbers or 51283605 90. We go to Rocky on Tae LBJ? Hello, Rocky. Hey, I just wanted to let anybody know I just came out of Cedar Park. I did find gasoline on ranch road. 6, 20 Blue Ridge. There's a small station there. They have electricity and I just filled up. Oh, very good. Good. Uh, you know if you come out of Cedar Park don't go to the H E B Plus on lake lines there. There don't have any. They don't have anything, all of it down inside of Cedar Park that I could see and also on 14 31 going forward Round rock. I didn't see any gasoline there either. Now, do you have to get to work somewhere, Rocky? Well, I own a company in round rock. And I dummy here forgot to fill up and my fight crows because I haven't seen cold weather like this. Like 12 or 15 years. I just forgot to turn my water on. I'm going to my office where I've got heat and hot water in the shower, and I'm just gonna cap out of the office for a day or so. All right. Well, you be careful drive safely. You take care of Thanks for that update. That's 6 20. Blue Ridge is where you found it, right? That's correct. So all 9 to 1 to 90 gallons, but it's okay. You don't have it. Any price is good you are you driving on 1 83 now, Rocky. Yeah, I'm in. I'm in a camera. Front wheel drive is a lot better than these guys with the pickup truck, But I'm I'm in some back in Cedar Park now on 1 83. The old 1 83 because it's all roads are closed. So I've got to go into round rock and I'm taking 14 31 and around rocks. Okay. And you sound road conditions make your problems on the ground, but attractions pretty decent for now, but later on, it's gonna change. God, Chip, Will you be careful? Be safe. Thank you, Rocky. All right, Nick. Thanks to you. Let's go to Joe on K. L. B J at 10 35 Joe. Good morning. How are you? I'm doing fine. How about itself? We're doing. Okay, Joe. Thanks so much. Was calling member that gentleman there was in the beautiful Kyle area. Yeah. You get the pumps the gas station that do work, providing they have electricity. You know that station does not have electricity. Those funds they're not gonna work. That's because he called you on his cell phone. I'm I'm imagining. He called you on a cell phone. I would ask him to pull over and instead of wasting gas Are 13 on his phone to see what's open nearby. I'm in the Southeast Austin near Pleasant Valley and Riverside and I've been without power since two in the morning. And I'm just sitting in my car with my phone charger on the charge my phone up and I'm running the heater cause inside my apartment is 50 degrees. Mm. That's a foul. I do know that blank this and having served in the army and stationed in Korea. I know it is like to be like in 40 below zero storm always prepared Mm. Absolutely. Yes. You do know what cold is really like. Oh, yeah, I'm also from the north. I'm from a little place up near Santa Fe called Las Vegas and not Nevada, where the original Las Vegas We were there about 500 years before the matter, Los Vegas and in Mexico. Shot after all my buddies from up there Oh, yeah. Joe, will you take care and thanks so much for winning in, We appreciate it. You all stay safe and everybody out there. Stay safe and off the road if you don't have to be on the road Very good. Yeah. Take it easy, Joe. Thank you so much. 512836. 05 90 cherry is calling from Jonestown. Hey, Jerry. Good morning. Hey, Good morning, guys. Just a couple of points real quick. The gentleman was just talking about charging your phone in your car. If you do that in your garage, you obviously don't have power. But you need to Paul, the safety cord.
KLBJ 590AM
"512836 05 90" Discussed on KLBJ 590AM
"Fit. Let's say you do 10 or 15% and bods because you have that pension But with the balance I think you ought to have about 75%. U. S stocks and about 25% international stocks and then within the 75% that said U S stocks I think you ought to have probably about 60 to 65% in large caps and and then 35 40%. In small caps. I don't think having that overweighting it's small caps because they tend to have greater volatility as well. And if you get that waiting, that'll be plenty. In my opinion, Okay, Extra help, Okay? You bet. Thanks for calling. You're listening to money. Talk on NewsRadio, Kale, BJ call or text Kenny and me at 512836. 05 90 Kenny Carl, before we get to our next attacks, just to put an end point on that discussion. Year to date returns this year through February. 5th US small cap stocks 13% The S and P 503.6%. Total international stock market 4.5% And the total U. S bond market. Negative 1.2%. So there you go. Yeah, there's spent. This is Russell 2000 is really, really come alive. You never know when you're in this investing world if that's the beginning of a long term trend, or resist a short term catch up to valuations in the large cap market, So good point you're listening to money. Talk on news radio K. L B. J All this in 51283605 90 any? Yes, Carl is a couple of culture coming in here. Let me just here's a quick text. I'll be retiring soon, and I have a pension through the city I work for I can take a partial lump sum payment. But it lowers my monthly check. Should I take a lump sum, pay the taxes and pay off my house or take the larger monthly payments. That's a really important and complex questions. And it really depends on your overall financial situation and any other liabilities that you might have. Besides Your mortgage. So let me just make the assumption that the mortgage is the only liability you have. You know what your lifetime income is going to be if you keep the tension and You don't know what kind of income you can get. If you pay off the mortgage with the lump sum, Yeah, you'll pay the taxes on that distribution as well. And so it's it's a balancing act. Because obviously you can live off with West income because you don't have the monthly mortgage all these certainly still have property taxes and upkeep on your home. If you had substantial amount of savings on this would be different. But I'm guessing since you work for a city that you probably didn't get paid big, large income during your working career. I'm very reluctant to, um At this point to take the lump sum because if you pay off the mortgage now you've got lower income. If you take a partial lump sum on you don't know what's gonna happen in the future. I tend to lean without knowing your total situation towards the more conservative Way to go and to probably continue to take the pension because that's absolutely guaranteed..
KLBJ 590AM
"512836 05 90" Discussed on KLBJ 590AM
"Like the Internet, like the Internet thought Austin real estate daily dot com Because real shit happens on a daily basis. Thank you can find our podcast up there. You can also find it on Google or iTunes. Just tap it in any one of those and type in their real estate's own, Kevin bound our John McClellan. Our podcast will pop up and you could put it on your phone there. Listen to your why you're hanging out or working out that is on iTunes or Google podcast. Check it out. You could listen to mother older shows lots of them up there. We're trying to get some of the older ones up there from years ago, just seeking kind of have a I listened to one of the old ones that drag Kevin It was about eight years old, and it was interesting. You know, eight years ago we were talking about man. The market's on fire is really happening around town right now, and it was eight years ago. If you remember that was 1000 and 13. We're beginning of 2013 coming out of the mortgage meltdown. We came out the mortgage meltdown. We're moving forward. You know, people were buying investment properties. Even before that, you know, the people with the money had their wallets open when everybody else had there's closed. It was an interesting time in Texas real estate and actually went back and looked at the block that I wrote in 2014. That's up on our website and I talked about how the Austin market has a lot of great fundamentals. It's going to continue to grow over the next decade, just with population growth and job growth. And I looked at some of the comments Take one particular comment was very Hmm. They disagreed a lot with what I was saying. They say this is a peek again. It's about to bust again. What are you doing? You're idiot. And well, Guess what? Who's the idiot Now time? Don't you wish you to bottom property in Austin, Texas of that boy? I do. I've got a few cents in but I gotta tell you, you know, behind side being 50 50. There's Always room for improvement, Right? That's right. It's a zoo. This this thing's timing. The market thing is tough, All right, and we're gonna go into some specifics first. Now I'm gonna go to jail today through one hour. You have two timing down power by hours and our time, And that was the joke around the office today was really there was a Seller who was offering a property for A price at 10 30 in the morning. And that price went up 50,000 by about 2 30 in the afternoon. What part of town was that? It doesn't matter. But what party down closer in northwest Now? We talked about that property. Was it on the show last week or maybe? Well, you'd shared it with me. I shared it with you mid mid week. Yeah, This is down in the villages of Western notes. Yeah. Yeah, that's an important one. Let me just kind of describe this area for everybody. Villages of Western hoaxes off Davis. Lane on the west side of Mo Pack. It's right north of Circle C right past the chilies, which you always know what I that chicken chicken boom boom thing, right? The theory that when that chicken tikka boom boom sauce that Julie's shows up in your neighborhood, your real state's about to go while well, this is very, very, very close to that. So my my theory still stands s O. This Western oaks built But nineties probably Yes, This was 92, Emily and 92. So talking about it, and the house is on his big are single story 20 little under 2300 square feet. Um, and a couple shows in the past. We've been updating our listeners on the stats. What's happening? How there are many homes that are under contract at Maybe 20% over what the cops were. And those are about to get ready to start closing. And so this one this house listed at that quote, new camps, racism, constant closed, enlisted at the newer hype hype point where the previous cops were made to high fours. This one Uh, There were some things that were under contract in the sixes, so they began to close this one listed at 6 50. This was this is an important first test is the canary in the coal mine for some working theories that we do right in this studio and share with our listeners about whether we see this big leg up from those forced to six hundreds. Is that gonna reaches a little table where we have a little breather in this market, and that's what that was. Our favorite working theory is that it was our fantasy. That was our fantasy. You're right. The supply and demand ratio has not eased up. So we're still in that same effect in this particular house. Yes, and that Well, let me look. Let's save the second part of the story for the second segment, cause I just thought of something very important. Okay. If survives to say it was much more there is listed for. Yeah, we'll talk about it. Talk about it. We can't share actually specific numbers. I just realized but baby later we came, But it isn't. It's a surprising number. Let's say that, as as there is now becoming some data from around town that is showing that there's Possibly not going to be a pause that we may continue on the same trajectory. So it's basically a leapfrog. And when one lives leapfrog from 4 52 5 50 leapfrog from 5 52, 606 50, Maybe even another leap frog after that, in of our listeners out there If you're curious about your neighborhood, and you want us to kind of give you a quote of what's happening there. Give us called 51283605 90. That's 5128360595 90. We do have lines open. Don't forget you can call them that. Call and text to that number. Listen, if you want to know what's happening in your neck of the ways Heck, if you live in in Western hoax will be glad to share what your value of your house maybe right now are down in that more than you think it is. It may be in Cedar Park. Maybe in circles. See, maybe in dripping springs. Give us call 512836. 05 90 just little tease for later in the show, Kevin, I know we've got the stats. Another surprising number. I'm gonna be talking about interest rates, too, as we get into Are talking and as we get into the rest of this, you know this spring buying season, although it's winter still interest rates matter, especially when prices there are accelerating like they are right now we're gonna talk about what a half a point with a full point change in interest rate can remain to your buying power out there and why it's so important that we keep rates low. There's nothing really we can do about it right when I put quotations around that, But you know, the feds been buying mortgage backed securities and other securities to like Treasuries. Lot of demand for that, too. When you have a lot of demand, the price goes up with the yield goes down, which is going to keep our rates a little bit low, So it's gonna be interesting to see how this increase in Appreciation here in the Austin area is going to be affected by any increase in interest rates. And I'm hoping you know some of the predictions we're looking at is maybe this is Latest little poppet interest rates, maybe 387% to the rate up over the last couple of weeks. Maybe tiptoe taper by some pullback here over the next maybe week, So we're kind of telling our classes to hold on for just a few message. See what happens. So we also have a special guest today, too, and she's going to be sure there's one thing that we're gonna we're gonna save who it is till the first segment Big reveal a big reveal a big reveal. She's one of my favorite agents in town. Sorry, Kevin. On good friend and we're gonna we're gonna We're gonna pick her brain a little bit, too about what's happening in.
KLBJ 590AM
"512836 05 90" Discussed on KLBJ 590AM
"Now here are Todd and done Jump in and 51283605 90. We'd love your eyewitness reports on the road and the weather, the traffic in the weather conditions and we've gotten a lot Those bridges and overpasses in the area is still a problem, and we've got scattered power outages, so that's affecting a lot of home owners and businesses and you know the lights of certain certain intersections. You need to take your time and get an early start. If you got to be out on the road, that's it. If you don't then there's really no reason to jump in at 512836. 05 90 various school campuses are making changes today due to the weather. They even though kids have spent plenty of time in virtual classrooms this year, not every district is making the switch today toe all virtual, but several are. Those districts include Austin, Leander Hayes, Huddle Round Rock, Taylor and Al Valley. No staff for students will be on campus in those districts today, but those class schedules Will remain as normal, just online bass drop in Smithville. They're holding in person classes but will operate today one or two hours behind schedule, and a handful of districts are holding no classes whatsoever today, and that includes Dripping Springs means Lake Travis Lockhart's and Maynor. Ah, yes, DS s. Oh, there you go. Jump in here at 51283605 90 stops Brad Wheel is says that's even as work crews have treated the major roadways for icing, But I have to say that Pope should stay home during this winter event. If they don't have to be out that the safest thing to do. This is not a miracle cure. It's not going to dry the roadway. It's going to help prevent ice from forming. Well. This is where crews were making the rounds yesterday, treating roadways where they could and expects there will be more to do as area temperatures continue to drop. John Cooley news radio K O B. J s So wherever you are, 51283605 90 forget a traffic or forecast report. Listen, also in the news today, although he downplayed it at the time. The former President Donald Trump, this case of covert was more serious than originally considered, according to doctors they even thought about putting on a ventilator. Yeah, Now. The news was revealed yesterday by The New York Times, which cited a source close to Trump saying doctors diagnosed him with lung infiltrate infiltrates. I guess that's Ah yes, that's it. Yes, swelling, I guess or information, a condition that causes excess fluid or bacteria, the lungs. At one point, the former president's oxygen level dropped below drop down to the low eighties. According to sources, doctors credit the Regeneron antibody treatment for helping him recover. It also turns out the first lady was worse than originally reported to, according to the Times, Melania Trump refused to take regeneration, and instead it took her several weeks to fully recover. Yeah, I mean, he had to get a quick recovery. There's no doubt about it, but for his oxygen level to go down that low that that's really alarming that that's really alarming. Not a young man. But that Regeneron a apparently did the trick. Yeah, sure. Did I know with my father in law? Uh, I don't think he had Regeneron, but he had the He's gonna wear that mask as much as he can. It's really more to set an example to show Hey, look what what I'm doing now with with Kamala Harris. It's It's a gift because we don't have to look at her. But, um, he is talking about Having mash for the next year for the next year, which I think is ridiculous. Now, if you want to, we will see people that will continue to wear masks. Well after this pandemic is done. Yeah, this this this cove, It's going to be with us pretty much forever. So it's the flu. So is ah, a lot of things. But another year of being required to wear masks all over the place. That's trouble that that's asking for trouble. It is. It's not good for our sake. Yeah, well, I had all understand effects of psyche. Yeah, but I think you're right. I think a lot of people just continue. I think there'd be some people that will always wear a mask. Yeah. How do you two for me? They're doing a lot of other countries. I mean, Beijing. I mean, that's it's pretty common. It Z like put on the hat in Beijing. That's where did you talk to different people? I'm learning more and more. And I just have to keep my mouth shut and bite my tongue. It's so different. You talk to different people, and you get these different reactions. I'll talk to someone who's feeling more up to Mystic and and she's a light at the end of the tunnel is starting to relax Then I talked to someone yesterday on the phone who was like Yep, it's it's this is gonna be with us for a long time. In fact, I'm worried this kid. This is getting worse. We've got these new strange coming over. It's gonna get worse. And I just I just have to kind of grit my teeth and bite my tongue. And just you know, because I don't know. I don't know. All I see is the numbers. They're coming way down, and that's what I choose to focus on. It is 7 10 here on the tide of Don showed you could jump in at 51283605 90 by the end of the week, one million Texans. Are expected to be fully vaccinated for covert. 19 and newsman Chris Fox tells us that FEMA's also set to begin their own mass vaccination program in Houston and in North Texas. Over the next couple of weeks. We'll update you on that coming up. And your eyewitness reports at 51283605 90 Todd and Don show commercial property owners, managers and realtors they trust accurately.
KLBJ 590AM
"512836 05 90" Discussed on KLBJ 590AM
"Um, for the overall MLS if we just dropped down to the Tri County area, right, So Travis Williamson and Haze where most of the Austin's m s a is There's 671 actives and 4600 and 81 Pending Is that ratios 810.14 So I would assume there's more than 671 people looking for houses right now. Yes, I wonder what the average days on market that 6 71 is. Probably not many. Yeah, not too much. So it Zapruder brutal out there. We're running into a multiple offers really across pretty much all price ranges. I just had to some stats and to me earlier today in the round rock area over the last two weeks, the average list price to the close price. Was $32,000 average higher. So for what somebody listed it for what it actually closed for last month was $62,000 higher than it was actually listed. That was the average on that. That means that there's more out there that were higher than obviously some of them were lower than that. You're that chart is that closings from January I believe it was closing from January. Yes. So those went under contract in December, right? These are real executive. This is before court. This is before the surge like that's what I'm saying. Like about, uh, 20 days ago. Things have just really significantly seriously. No house that was listed a certain point, and it actually went for 400,000 more than listening prize almost 40% higher, then was actually listed for so I mean, it's crazy out there on day. Do you see any other neighborhoods around town that are immune from this? From what's happening. Um, downtown condos are still haven't gone. While there's some stories. It's that market has started to turn back on, and we're seeing that activity increase. But wild multiple bidding things against each other are not quite happening there yet. So is there an opportunity for people? You think I think this would be a very pretty good time to buy downtown? Interesting? All right, Let's take a break. Hey, wanna remind everybody we are taking calls? 51283605 90 That's 512836. 05 90. If you want to know what your particular neighborhood has actually been doing, Give us call 51283605. Daddy, don't forget in collar text to that and will comment and tell you what that neighborhood is actually doing right now In that hotness ratio. You listen to the real estate zone will be right back like what you're hearing. Would you like to have John McClellan or Kevin Bounds Work with you.
KLBJ 590AM
"512836 05 90" Discussed on KLBJ 590AM
"Real estate's own our weekly radio show about Central Texas real estate. My name's John McClelland, as always joined by my friend Kevin bound, That's bound light town real estate broker. Howdy and Sean Bukowski is in the House real estate attorney. We got to try a little giant mortgage banker, real estate broker and real estate attorney here did answer your questions about Central Texas Real state and there are a lot Of questions to be asked. We're not sure what the answers are, but we're going to talk about it today. If you'd like to be part of the show, 51283605 90 that's 512836. 05 90 questions. Comments would love to hear from me. Don't forget if you like to listen to the show in its entirety, Go check our podcast out online, the best place to find him easy. Their own iTunes are Google podcast downloaded to any of your devices that do it. Listen to why you're hanging out or working out that's on Google or I time iTunes just type in the real estate zone. It is the end of January Gentleman last week in January, it's Ah, We're getting to 2021 lot going on with real estate. We're gonna be Talking about some. The stats that we typically kind of leave is part of the show. You know, small segment. It's gonna be a major topic today. We're gonna talk about that, and we're going to tell you why it's going to be a major topic. And if you haven't heard you need to keep listening in today, because there is a lot going on here is central Texas, real state And on the flip side of that, Shawn, you're here. Property tax values. The estimates are coming out in March, right sometime around mid March is so they started coming out going to be real interesting. I've saw a report from a local title company that Put some stats together just the other day, showing some areas around town year over year This is in Austin often took out 787 dip codes up 2025% year over year appreciation going to be interesting to see how the city It's a little grabby hands. That's all rights to grab last year. If you recall I did not reappraise property Primary resident They haven't all your residential. Yeah, yes. Oh, they're just waiting to really slap you across the face of this year, right? So, speaking of that, by the way, General 31st deadline to pay, So don't forget to pay your property taxes this and if you bought a house last year, and you've moved into it as of January 1st this year, Make sure you file that homestead exams, right? Does that homestead exemption work after a couple years then they could only raise it. X amount. Yeah, it's like 1%. Yeah, yeah, so important, but after two years, right, So you want to get that clock started by the way getting started because if they don't have that homestead, they could Jack it up whatever they wanted to. So remember, there's a lot of scams out there that could pay to play. You know, they will get this homestead thing Phil for you Could've Travis Williams again. It's actually online. It's free to do very simple. Phone number 51283605 90 That's 512836. 05 90. Kevin, I want to go to you, Um You said something very interesting to me today over a text and you said, I'm misquoting. I'm sure are a paraphrase that we're living in historic times here in Austin, Texas, explained to me and Sean into our listeners. Why, in real estate? This is an historic event that we're witnessing and seeing right now. Yes. Oh, that's a big build up, right? There's a big build up we're witnessing. So I was sharing with you some some data about what things are going under contract for Um, and those will be closing in 2 to 4 weeks right, so that there's a There's a period time you go under contract. After all these minutes. We've been sharing some of these crazy stories about multiple offers and 96 offers on the house and brush your hair or something like that. Yeah, this this This really rash of tightness has kind of kicked in about two weeks ago to a two or three weeks ago on Glee reported on the radio show. You know, we share the stats so that that our listeners have that real time speedometer on what to expect that hot ratio. That's matched. What? What's been experience out there with these like you said 96 offers. I won one last week they had 39 offers. Those those prices air not revealed yet until the closing day happens. So there's a 30 Day delay or 40 Day. What so generally in that range, there's a delay before everybody becomes aware or the Realtors anyway. Become aware Um, that that $275,000 house is really a $350,000 house. And so that that big reveal is coming Not here yet, but we have data that shows what it may. The trend is for sure and what it may look like 45 35 days from now. Well, yes, starting Probably a week from now, I think really, by two weeks from now, you'll start to see some of the mainstream media picking up news on this. But you said, historic for for our listeners out there. That doesn't sound like a historic thing. Oh, well, Property values are going up. That's all fine and dandy here. What is the obviously the underlying causes supply and demand, But that's the historic Aso right and let's Yeah. Or Historic means looking back, and that's why it's okay. So the nature of my message to you is, I think we're living in what will be called a story times there. We could be in the midst of a reset. That's not 20% year over year, it could be a 20% shift in values in 60 days. Wow. So and residential real estate here in the Austin market you're saying because I'm married doesn't stop in some areas. Some of the numbers were saying we could have a 20% shift in value. Over a 60 Day period. It's isn't that crazy even to say out loud. It isn't because you're kind of hesitated when you're saying it, But I talk to you before we're on their right. And you were Pretty solid on and I've seen the data and it Z. Interesting to say the least. And once you share a couple of things that before you get into the overall stats number, talk about some of these big areas around town like Circle. See, Steiner. Great Hills. Millwood. Alan Dale, Right? You know, that probably represents what I mean. Steiner Ranch. Probably 8 9000 homes out there Circle. See 4800 homes. I got a great hills. Probably got enough. 4000. Maybe you know that surrounding area? Yes, I sent you Those examples. You have those number. I do. I do it on the market. Remember when we talk about price appreciation and anything you know, it's just Sean. Is it Z economics Wanna want if you don't have enough supply, But you get tons of demand prices. They're gonna go up and so We looked at these different neighborhoods and so circle see Steiner Ranch Great Hills, Alain Delon Millwood..
KLBJ 590AM
"512836 05 90" Discussed on KLBJ 590AM
"70 days. Remember the sludge and we might describe the sledges s so it was ugly. It was ugly House really would not really move in ready Back to the main street. I think you said or done no, not not to Main Street. But here's I want to talk about the foot buyer Psychology that's out there in the market because we know we're teaming with tons of buyers. We talked about how they got low. They've got good spending power and everything else. OK, 70 days go by. Listing agent drops the price to 3 99. That's what happens. Get it off for multiple offers Come in multiple offers. Buyers start bidding against each other, and it ends up going under contract in the fourth thirties. Okay, wait a minute. So is listed were originally what 4 17 for 70 days. It sat for 47 no contracts with no contracts. And then suddenly, a frenzy starts up on it, and people fight over fight with each other to pay 4 30 in the fourth thirties over 4 30. Where? Yesterday before any of them could have had it for 4 17. So this is interesting, right to me. This talks about? Yes, we have science. We have low interest rates. We have all these things that we can look at. And prediction. We love to share the science of the stats with our audience. But there's this. There's this human element that's out there, and it's significant and it causes weird things to happen here. I call it the eBay mentality. You know, When you start bidding on things in the bay, you didn't pay more than it would be a Wal Mart. Do you ever do that? I used to be a debate. This is your first came out. Oh, this is cool. Sell this online. I don't want to buy that. And like I gotta win this bid, right? And you didn't pay maybe the same or more than just going down the walmart or whatever, baby. That's because you have this and think humans have this innate want toe win. Alright, I want to win. I want to beat out on that If he really wants that I should want it even more. But they obviously goes too. Right. Look, Nobody wants it that I'm going to stay with your story too, And I'm gonna take out some important details because we're on the radio, but you'll get the effect so Second listening. Also in the market for about 90 days or so. No price reduction. But buyer Inner Zen goes under contract at the list price. Second buyer comes in the next day says Hey, I really want this. Um, I'll pay 10% more than the list price. They say Sorry. You know, for we're under contract that second buyer comes back says Look, I'll not only pay 10% more than the list price, I'll take another 10%. You can offer that to the first buyer to go away and I'll pay their realtor as well. So so both you is the cellar. You'll get an extra 10%. I'll give 10% to the by the president of contract just to walk away and pay their military as well. So that's an interesting strategy. Yes, So in one day, there's 23% increase in value on the house gets what the first buyer said no, really unable to walk away with a $40,000 check. Uh, it's more than I don't just say the exact price 230.0. We're still none of this is closed yet. But it is it is more than they could have walked away with a 10% of the price of the house check for doing nothing for never even closing, and they said no, They said no. Because They couldn't find anything else out there again. This is something that had been on the market for over 90 days. Why was it so Let's let's back up. We know we're talking about how hot the market is. He goes on the market it last for all these days, and now in 1 to 2 little short stories. You talk about the house and one was 68 70 Days, ones. 90 days. What caused them? Where they just about what it was right. And that put him in that sludge and the markets caught up to him because the market is moving that fast First story. It's buyer psychology where being in multiple offers become became this validator that somebody else s o? They saw it as 78 days on the market said, Uh, it must not be worth that the same question you're asking. But then, as soon as they found out that there's four other people that wanted it, But it's a validators. Oh, it must be worth more than that. If there's that many people that one and then in the second story and price range has a lot to do. They obviously when you get the higher price range after your buyer pool shrinks, right, you know you go. 1.51 Point 72 million That buyer pulls Not as big as it was safe. You know if you're buying a five or 600,000 on the house The second story is about. It's about a neighborhood in Austin that has just turned on and it's different way. The whole the whole neighborhood is different. I'm not going to put it out there, but personal clients. Well, I think if you want to hear we want to hear that story, I think property the wait till after you need to work with me privately on that one. Yeah, so we're gonna wait till after the break for that. All right, guys, you listen to the real estate's own phone number. If you'd like to be a part of the show, 5128605 90 That's 512836. 05 90 questions comes left here.
KLBJ 590AM
"512836 05 90" Discussed on KLBJ 590AM
"Turn the news on all day. Did we fix everything Is everything good? Everyone, Everybody's playing nice again. We're all singing Kumbaya Kum Ba ya the recruits going in for coach Sark. Everything is happy coaches and things you're coming in. For our new head coach and everything's okay in Washington D. C. Plenty to discuss from the NFL, including is dead. John Watson trying to be traded. I actually have a big pile of Houston Texans news that we'll get to in a moment of interesting stuff on who gets to attend the NFL Games this weekend, But we'll start today as we were way will most days at least for a little bit. Coach Steve assembling his his coaching staff here. Bo Davis has been secured to be the defensive line coach spent the last year in the same position for the NFL's Detroit Lions. He coached here under Mack Brown right at What do you know about Bo Davis? He's a really good recruiter and a really good coach because he had two stents and Alabama And then excuse me coach with Mack Brown. He's really good, and I think he's a good recruiter. I think it's a really good higher and your higher guy named Bo Davis, who knows the lay of the land in Austin. He knows high school coaches in Texas. And I think it's a good hire by coach Steve Sark s. So this is obviously I mean, this is ah strategic effort that he's making because as we've discussed, he's you know, California Guy Sarkisian is with with no ties to Texas. And so he has to surround himself on that staff with guys who are connected to the state of Texas, right? Undoubtedly, because you've got to get entree into the offices of the high school coaches, because if you don't know the high school coaches in Texas, you're not going to do Anything. No Start doesn't know many Texas high school coaches, and that's why he got Blake Gideon a couple of days ago. And now that's why he's got Bo Davis because that is the key. And, you know, just like every coach since For goodness sakes, Fred Akers. They all say we gotta lock up Texas. We get up, got to get all the recruits from the state of Texas. Well, it hasn't happened the last few years for Tom Herman because too many recruits were going out of state to Ohio State, Alabama to Michigan on the Texas A and M not that's not out of state. That's out of conference. Me too many He was losing too many of the Texas towns, but he was still I mean, until this year, I think, well, the national signing day they had him in 17 or something like that. But he was still doing top 10 classes Tom Herman was with. Do you think that recruiting was really a problem for Tom Harmon? Yeah, I think it was because You don't get a commitment from Quinn Ewers of Southlake Carroll I'm talking about this year. You're right. Two years ago, three years ago, it was It was all fine. But this year, the ship started taking on water to significantly And I think that was, I don't know if it was because of a lack of coat connection with high school coaches, or, you know, connections across the state is because you're losing games that you shouldn't lose. Yeah, You're losing games that you shouldn't lose. And you have coaches coaching against Texas by saying Tom Herman is not going to survive. And then when Krystal content made the statement that he's our coach you then according to Chris, you had players within the program recruiting against time. Herman telling Guys Don't come here. Don't come here. There's a huge disconnect between Quinn Yours and Tom Herman because Quinn yours was on record his. His bedroom was full of Longhorn stuff. He always wanted to be a longhorn, The Brock Amar twins, For goodness sakes. Their dad was one of the legends of the Longhorns offensive line. The mother is even more fervor in about Texas football, and they turned their back on Tom Herman and go to Alabama. There was a huge disconnect between Tom Herman and these recruits writes this starting this year for sure starting mission and do we should we have the expectation that maybe they Sarkisian is able to flip some of those guys back when yours isn't until the 2022 class. Right? Uh, Quinn Years had the common after his game last week, and he's still playing football high school level in South Lake care. He says he still going with this his own guys, so I don't I don't think that will happen. I think it would. It would have been other coaches of Bracken Meyers model might have come here, but I don't. I don't. I don't think I don't think they'll change your mind about Alabama. No, I'm looking at the list of all of the guys who Secu shin, who has nailed down so far. Both Davis Blake getting Kyle Flood There's a whole bunch of other expected targeted names on here. Um, I I don't see a defensive coordinator candidate on here. Chris Ash has not officially been dismissed by the team, right is that Do you think there's a possibility? Chris Ashes back with this team the they'd save some money of Krish Ash was back on the team because not gonna fame three years worth. I keep on seeing the defensive coordinator. Brought for the Arkansas Razorbacks is the guy they're targeting. I would be surprised Zach Arnett. I mean, we're just looking at a huge list of names here. I think his name is flood. I think it's that Kyle flight is is the name of the offensive line coach who signed up yesterday. He's the offensive coordinator. Okay, That's the guy I was thinking. I was thinking of the defense. Yeah, I was thinking of flood, but I don't. I don't. I don't think Chris Ash will be back because you know It's a good old boys situation because coach Sarkeesian New Beau Davis from the time of Alabama and Yeah, you hire for the most part. Your friends who you trust to you believe in their philosophy of coaching, So I mean, unless he has a relationship with Krish Ash, I don't think it's gonna happen. I put it out there just I mean, Steve Sarkisian is an offensive guy on so maybe defense he ends Chris Ash was particularly second half of the year was good for the Longhorns this year. I've said I've seen a bunch of players have been advocating to keep him. Keep him around there. I don't know. I certainly did The saving the University of Texas money That doesn't seem to be something. They care too much about these days. So you're right about that money is no object. Even though it's a pandemic it they don't know that over there. Yeah, Yeah, I don't know if that's gonna if that's going to come into play Stan Drayton is the running backs coach. He's so it's looking. He may be the only one retained from the Tom Herman staff. Do you think there? Is there? Any concern about that that there's a nearly 100% turnover with the staffer? That's just what happens when you change coaches? That's what happens when you change that coaches Jason, That's what happens in that's just That's what that's you know. And here here, the guys that play for Texas second year in a row. They had 80% new coaches this year. Now they're gonna have probably about blue Moon problem about 90%. Maybe more that a 3605 90. If you'd like to get in here, 512836 05 90. I saw a very interesting name who might be the new head coach of the Houston Texans will get to that. It's Jason at Vito Back in just a moment..
KLBJ 590AM
"512836 05 90" Discussed on KLBJ 590AM
"K o B. J call or a text 51283605 90. Hank, you're on the air. How may I help? Yeah, Karl. I've got a question standpoint of who you go to as far as providing intelligence on the market. I've, you know, gonna pass with the Kipling your letter and, uh And remember when Louis Roy Cowser yards on the year. Yeah, Yeah, So here's what I do. Yeah, Here's what I do, I think Of Barron's magazine is an excellent source for investors. It's a weekly publication you by subscription. You get the hard copy, typically on Monday, but you get The online edition on Saturdays is part of my Saturday ritual before I come to the studio to read through Barron's lots of interesting articles in there. In overtime you become, I think, a much more knowledgeable investor the second place and this was this won't surprise anybody is the Wall Street Journal. I think it's I think it's the finest financial daily that there is, and they're not in the business of make record making recommendations. But I would tell you that if you had a daily subscription to the Wall Street Journal, and all you did Was go through both the a section and the second section, looking at the headlines and then stopping and reading the first part of any article that appeals to you. That six months from now, and for sure, a year from now you're going to have an informed opinion about the risks and rewards. Of stocks and bonds and various industries and their current valuations. You will be a very knowledgeable investor, if you were to do those two things in my experience. Well, the investor's business daily, You know that, uh, that you and, uh how do you rate that I actually I haven't looked at it in years. It used to have much more. Of a trading. As opposed to investing because they've got a right to daily. I'm not opposed to it. I've never heard anything bad about it. It's just a matter of time allocation. So I have nothing. You know, I have no opinion and certainly no critical opinion of investors. Business Data Bailey hang so S so looking at long term. What do you think about, uh, Kiplinger's Week? Video? I'm just they gather information. Um It's okay. But I like barons a lot better. That's a volume that's a tone to go through it there. No, it's not. If you get the online version, you could spend a couple hours on Saturdays. A lot of that stuff it's in the paper version is just price data, which is irrelevant. No, not at all. I think I can. I spent two hours with him today and learned a lot. Yeah. Great. Okay. Thank you. You bet. Thanks for calling. Listening to money. Talk on news radio, K o B. J caller text 512836. 05 90. Swim. You were on the air. How may I help? Speaking of barons. Yes, I found an ad the other day about earn extra income, lending your on your fully paid shares..
KLBJ 590AM
"512836 05 90" Discussed on KLBJ 590AM
"If there's no inventory, and there's a million buyers, and if things are so crazy, and you say, you know you could sell for 5 50 or why don't I just put 100 on it? Um and Because it'll sit because that that's that's one of the things so extreme overpricing is one of the things that describes some of the sludge listings. But whether someone there were some of the things that that also creates for that property down the road, even if you try to bring it in line s O. I mean, this is what happens where it's not a good strategy to lift high and then slowly reduce the price because it increases time on market right. So you get it becomes shopworn. If you will wear and tear the listing everybody. There's no excitement around listening. So that as you reduce, reduce, reduce you reduced to that 5 50 number and the buyer comes along that it would have matched with and says, Oh, this is perfect meets all my criteria. It's in my price range. But why hasn't anybody else bought it for 180 days In this market? There's something wrong when the days of average days are marketed something 76 or seven or so they say, What's wrong with it? I love it. It's perfect for me, but I'm not seeing something. I know I'm in individual. Everybody else is saying something in his past on this house, so maybe I'll offer 5 25 years and still meets my Christ. Area, but I'm missing something It can't be worth 5 50 is a real estate agent. You want to create the opposite effect or potential buyers in the market for the market itself to react to the property be enlisted, right? Yeah, absolutely. And not to think that there's something rather what's wrong because it's sitting so long is Oh my gosh, it just got to the market. We better get up, Get on the fast, right. And that's that's the way to generate the hired the highest number for a cellar rather than dramatically over pricing and slowly stepping it down. But this concept of sludge even even today, there's probably 20%. The listings there on the market, and that numbers has seen seemed to be fairly consistent. You and I have looked at his concept of non moving listings in different markets over the last 16 years. We've been doing the show and around 20% at any one time are kind of they could be overpriced, or they could be problematic. Yes, so we've talked about that There's different types of sludge out there. There's the overpriced. There's the functional. There's the You know, some kind of deed restrictions or something that's holding back. I understand the overpriced ones right now. Are we seeing less of the other ones? Because people are starting to overlook that ugly aspect of a property of the non functional and just say I need a house anyway. You know that. It's really the same thing right, so overpricing in functional obsolescence are kind of the same thing, because if something's functionally obsolescent, it should be priced lower to address the night of its price that X and the market right, so it's really a no overpricing issue and those air like Let's say you go Central Austin, and there was a bunch of two bedroom houses in certain neighborhoods. Let's say someone added a couple bedrooms onto the back of the house, and you have to walk through one of the bedrooms to get to the last bedroom that Z a good definition of functional obsolescence. Where one bedrooms? Yeah, it's the size of a bedroom. Maybe there's a closet kid could put their bed in it or whatever else but Yeah, it's a hallway. You have to walk through it to get to another part of the house. So a lot of times with add ons. There are really weird. Add ons seen some crazy things, you know, like the Winchester mansion, right where they're stairways that go nowhere and all that crazy stuff. There's some weird stuff and those they're just not going to sell it the same price that well designed floor plan would would sell that. You know, there's there's There's a lot of if you drive around and just look at houses. I think a sickness I have, but I don't notice anywhere I go. I'm always look at that. Look at that house. I've been noticing lately. The houses that have trees right in the front of the right in the middle of the garage like the garage door. You sent me a picture of him up. There was I think I said it to you there was actually a tree. In the middle of the driveway like 3 ft. From the garage door like he was blocking right in the middle of the driveway. Right? And so it was a two car garage, but you had to drive around the tree or and you know this. Somehow somewhere. You know the market was such were the houses we're selling, right? So at some price somebody's gonna say, Well, I'm excused the garage for storage anyway, It's not a big deal, but that that affects the house. So there are a lot of weird things like that out there. Alright, guys, phone number 51283605 90. That's 512836. 05 90 questions. Promise. Love figure for me. You know what? We're closing out Sludge? I think she that pricing You still have that pricing where I took the bottom 20% of the market? Yeah, I did. So I took the other 80%. Yeah, you did. Let's say the median price of sludge out there in the Austin marketplace. Yeah, that was 20%. That was $689,000.9 for media and in the median price of non sludge was $414,000. So that's a huge difference, right? So what would would What encourages somebody to list their house for 20%. Even over with Martin only takes two people. It only takes a crazy cellar and crazy listing agent and so there's not a whole committee. You don't have to run through permission with the City Council to overpriced your property, right? It just takes two crazy people that they're that they're willing to do it. And then there you go. And do you think maybe it happens? The fear of the Maybe it's a new agent. Just wanting the listing in just a minute. I'll list it whatever you want. Sometimes they get lucky right cause they may find a crazy buyer two out now. Crazy things can happen to you talking about there Seven days on market That's in here in the city of living of often talk about the days on market. What does that mean? Yeah. I mean, it's just that how long listing is on the market as an active before it goes under contract before it goes pending, and that process you know that offer and acceptance even in the these multiple offers situation. Think about houses John that go on the market on a Thursday or Friday, and they may start having offers that same day, but they Don't accept any all through that when they wait for highest, the best. It's the best maybe Sunday night and then maybe on Monday morning, it gets marked under contract. So you've got you know you have three days on market built into something that essentially sold Immediately, um So, Yeah, I mean that zit. This market's great and that's one of the things Kevin are always we're talking and we're scratching our heads about the strangeness of this market and how in which it is, and we talk about jobs being the driver for housing, Right and Austin every day, there's a new article. Oracle HP, You know Tesla. Apples, increasing the stuff. Amazon. I heard my Amazon, maybe moving onto at least into Texas right with her headquarters. You know, there's obviously there's all kinds of scuttlebutt going, but it's interesting because if we if we look at that jobs Dr Housing Convict Consumer Confidence is that gas We've got it all in space here, and I'm just looking for that in their armor we're gonna talk about when we come back here in just a few minutes where you're listening to the real estate zone. I'll be right back. You've been listening to Kevin bound of 12 Rivers, real estate. Now you can get his assessment on your own specific property called 5125881453 to request a free no commitment. Meeting with Kevin. Kevin bound represents buyers and sellers. He can represent you call 512588144. Three or email at 12 rivers realty dot com..