17 Burst results for "National Association Of Realtors"
Bloomberg Radio New York
"national association realtors" Discussed on Bloomberg Radio New York
"Going to be a Walmart reader I'm not kidding What are you going to be my final What do you have to do to I mean is there an age no right No I don't know I don't know But they're always there They're nice They're helpful They're a nice experience when you walk into the store So that's your fallback That's your plan Big big time You know what I want to do I just wants to play with the stickers You know what Walmart readers they give you the little yellow smiley face stickers all the kids I wish that there was a Walmart near me 'cause I'm in Westchester I don't think there's a Walmart for 25 miles That's because you live in Westchester We'll find you one But when you retire down to somewhere in Ohio no when I retire I'm gonna be chasing that long white line I'm gonna be in a big Rick in an 18 Wheeler Oh that's right That's my thing That's your thing All right create a Gupta Bloomberg markets correspondent joins us today We got a chart of the day Let's talk about that What do you got Yeah my chart of the day Well I started the show about an hour ago ranting about how important the Japanese yen is And we've been running with that story all day You have Yes I'm so happy I'm going to take it and get a little nerdier if that's even possible G hashtag BTV 5 three 5 if you guys have a terminal in front of you if you don't stick with me here We're looking at the Chinese you want versus the Japanese yen And here's why this is so significant These are two countries China and Japan are major exporters to the rest of the world They're also net importers of oil overnight The reason you're seeing so much weakness in dollar yen is governor Corona came out and said well a hike is just not possible in just the environment and they're still dealing with higher commodity costs for Japan That's a major deal Japan and China like I said both major commodity importers But this is kind of a signal that traders use in the EM space And they look at the China fixing rate The idea that China devalues its currency to make its exports more attractive But to decide when they do that they look at they look at the dollar Of course they also look at the Japanese yen and I try to the day looks at the offshore you want versus the Japanese yen going back to 2012 there's that major devaluing in 2015 when this pair that yuan versus the yen hit a 20 level Guess what It's hitting the 20 level again It hid it in April as well And that actually triggered this currency fixing to where they once again devalued China devalued its own currency against the dollar to make its exports more attractive So as we see it now hit the 20 level against the Japanese yen watched to see what it does against the dollar Major signal Awesome stuff try to do today You can sign up for critics chart of the day at K Gupta one two 9 At Bloomberg dot net and check out her very strong social game on Twitter and Instagram That's the gram to the kids At critic Gupta news you can get all that stuff there All right let's talk real estate residential real estate Again Matt's been in the market I am now out of the market I prefer my position But let's talk to somebody who does this stuff for a living Kenneth and Leone research director at CFR Ken has housing in this country as it peaked So there's an incredible housing shortage we're talking millions since the housing crisis over ten years ago That's not going to go away And housing probably has taken near term because of the pressure from rising interest rates Mortgage rates above 5% it's hurting the product categories of entry level home buyers also move up categories And the only areas on the recent national association realtors existing inventory sales that was positive was the 750 to $1 million category and above 1 million So we are seeing moderation Yes I think we've seen a peak So by the way Ken we've been giving people's resumes out today So you were imagining director at bear Stearns senior VP at Lehman Brothers You were the global director of equity research at McGraw hill financial You know what you're doing You know what you're talking about What do you expect from mortgage rates going forward Because we're hearing about a fed that could raise at 50 basis point increments you know possibly for three or four meetings Maybe they're going to raise they're going to raise rates by 300% by the time they're done here What are we going to see in terms of mortgage rates Yes that's a great question And most importantly the mortgage market is down about 65% on originations whether it's purchased or refi refi debt And the fed is the quantitative tightening So mortgage backed securities they're going to be peeling off 35 billion in September half of that starting in June That's the macro to your reference to pierce Stearns or Lehman but generally the markets will stay liquid And I think for mortgage rates it's likely that not even the mortgage bankers association which is the bull case for mortgage rates that's going above 5.2% in either 2022 or 23 To answer your question I think we're going to see 5 and a half to 6% on mortgage rate Ken you mentioned supply of homes I'm kind of what I've heard really over the years is the housing industry the home builders are really good at building those mcmansions There's big profit margins in for the builders there on those types of homes But what they have not been building is kind of the entry level home here Is that changing all Do you think It has changed but again the backdrop of how this market is different than when we hit the housing crisis back in O 8 and O 9 is that home builders learn Their balance sheets are strong they have debt maturities that really become more measurable two or three years out on maturities And they have great liquidity So they're not speculating They also change the mix of their land inventory to be about 60 to 70% option which means they can cancel it for a small fee And the rest is own lot Totally different texture than the speculative side both from the home builders as well as home buyers that were sub prime FICO scores are very high today And that's why I use the word moderation from the peak for the housing market All right Ken great great stuff We appreciate getting your thoughts Kenley owned research director at CFO CFR 8 I'll tell you where they're still building that down to Jersey Shore man They're knocking stuff down I'm building it right back on these bigger houses That is just a ridiculously hot market there The value of homes down on the Jersey Shore has just exploded But not for a first time buyers right These are multi-million dollar homes down the shore and that's kind of what I get back to I mean we've heard from these home builders.
The EntreLeadership Podcast
"national association realtors" Discussed on The EntreLeadership Podcast
"How else a great I am. And people buy into that. Also, as leaders, sometimes nobody can do it like me. And I used to say that about even administrative work. And then I found out not only could somebody do it like me, someone could do it better. You know, certainly in a lot of pride there. Yeah. But I really think it gets down to breaking it down. You know, I'll give you a really odd example. And do you know who the blue man group is? Oh, yeah. Great. Seeing them. So you've seen, do you know which ones you saw? No. Do you know how many blue man groups there are? I imagine thousands. That maybe not thousands, but there's dozens and dozens and dozens of them. They're well over a $100 million business. Wow. And what happened was, you had three original guys wearing blue masks. They're very entertaining. They're very engaging. They're very skilled, and they do their routine. Then what happened is they took the time to write everything they do down. An SOP standard operating procedure. Here's how we put our makeup on. Here's how we address the audience. Here's how we interact. Here's how we create humor. Here's how we do this routine. Here's how we do this juggling event. They broke everything they did. It was laborious. This is painful. I've done this stuff many times in Bill and training programs. It's gruesome. But what comes out the other side? They had a manual of how the blue man group works. Then here's what they did. Each one of them formed a team. So you take your three, best guys, and they each form a team. So now we have three teams. You bring in two guys and you see who has it and who has it and who has it? You train them. You're trying them to train. And sometimes people make it sometimes people don't. And within 6 months they had three blue man groups. That went on for 6 months, then what do you think they did? Screw it again. They took each person off the now they had 9 teams. And then they had 18 teams, and they grew and they grew and they grew another all over the world. And something that was a performance act. And as you well know, you know, I was in Nashville here. There's a lot of performers who were great. You know, they're in their 60s, still trying to make a living 'cause it's just them. And then there's people who systemized and scaled. And that's the key component. And I think for anybody who's in a business, you have to look at that watch system and what's scalable. And if it's not, it's not. You know, you can't make something happen that's not there. But most businesses I found can be systemized can be scaled if the blue man group can do it any of us can do it. Yeah. So what were some of those systems that you started to put in place to teach other salespeople? How to do this well? So I kind of break down everything I did. So I break down here's how I first of all, here's what I do on a day as a successful salesperson. Then I break down, you know, for me, I broke it into three categories. The lead generation stuff, and which I don't care, you know, it's entre leadership and people love the idea of leadership leadership leadership. Let me say this. Dave Ramsey thinks this way, I think this way. Doesn't matter how big the organization is. Dave Ramsey, he's the lead salesman of this organization. I'm the lead salesman of my organization. Still, I don't do much of the salon anymore, but I'm still responsible for the mantle of us. How do you generate a lead? How do you generate a customer? What's the optimal way to serve that customer? What's the experience that customer has the customer experience from the time they first interact with you? I don't care if it's online out of store, reaching out to you by a referral, whatever source, how do you handle that lead? How do you bring it through the chain? How do you interact with them? How do you set expectations? Who handles the leads? Where does that go? So you go from lead generation into the sales process from sales into service and service into the keep them connected and stay in touch. You know, in my business, in a real estate space, they did a survey, the national association realtors, but 1.5 million member trade organization. And they surveyed everyone who bought a home in a calendar year. Giant, you know, 5 million transactions. And what they found is that people who were thoroughly satisfied with their agent. Within 12 months couldn't remember their name. Wow. Only thoroughly satisfied clients. Like they thought their agent was great. Only 28%. So part of what I do is, you know, the lead generation is to keep in touch with my customers. Keep in touch with my past customers, right? So someone sells a house. They might not be selling for 5 years. They may never sell. That doesn't mean they're not a great source of referrals. My best ever client actually never bought a house at me. But she was an advocate of mine and I stayed in touch with her. So for me, what we develop is what we call items of value. So let's say George, I sell you a home. Every month, for eternity, you're gonna hear from me. And I'm gonna send you information cool stuff, like, hey, here's how to save money on taxes. Here's how to protect you and your family from identity theft..
WTMJ 620
"national association realtors" Discussed on WTMJ 620
"Saint Vincent a politics doors on highway 100 Leighton in Greenfield. And 23rd in Lincoln in Milwaukee. You're going to love it. Don't break the bank to get into a house back to the accurate mortgage in Realty Show with Brian Wickard on Wtmj. Alright, welcome back, So I'm going to call a couple weeks ago. Or maybe as an email. There's an email from our attorney, Uh, who's also a customer saying, Hey, I met somebody and they need help. With a jumbo loan, buying a really nice lake property here in southeastern Wisconsin, and so we connect in and it turns out that there are no professional real estate agents involved. Um, they end up putting the deal together. And so I said, Well, send me the offer right? Because they did use the standard. Wisconsin offered a real estate forum, but so far I've only seen the counter offer. Which is one page document, But I already know that it's messed up. From a lending standpoint, because in it was included, like a boat and paddle board and something else. Otherwise known in our industry as chattel, not real estate, And so I know for one thing. Hey, we're going to have to do an amendment. Are you guys going to have to do amendment But I've seen this happen before. Hopefully I'll get a look at the rest of the offer soon. Because I asked What did you have an appraisal? Contingency? I don't know. Because the home buyers worried. Are we over paying is this thing the right price? Bah bah blah. I'm like, I don't know. But do you have an appraisal? Contingency? I don't know. So if you're going to do it for sale by owner transaction with helped facilitate a lot of those and have the resources to put you in touch with, for example. We have a very capable attorney that for just a few $100, not thousands of dollars will help facilitate this whole contract drafting. I remember one that closed a year ago. Where they just tore it up and started again. And which is fine. You can do that for sale by owner does not mean alone. It just means you're not necessarily engaging a real tour, which is a trademark of the National Association realtors. And But you can still have counsel. You can still have help. You know, it's always talking metaphor. You know, these people decided I'm going to be a plumber away. I know a guy who did that recently. Oh, yeah, Plumber, and I'm just going to try to do my own plumbing. It's like no you can like, you know, have some help or watch some YouTube videos and so to your point Maybe there would have been less heartburn from the very get go with a little bit of help. Perhaps. And so. So now it's time to, um, you know, talk about financing, and so for this level of purchase where, um you know, we're talking about over a million dollar home. Between a million and two million and so the loan amount we want 30% down, Okay, which turns out to be like 1.1 million. Okay, well, They don't have the 30% down, but they own their property free and clear their current primary residents free and clear and they own five other rental properties free and clear. So you know how maybe I can take her home in Cleveland in one of the rental property? No people. Banks do not enjoy giving people home equity lines of credit on their rental properties. But we can help get you a special purpose. Home Equity line of credit on your primary residence called the Bridge long. Okay. Well, then she says, Okay, Well, I need to make sure that you know you're giving me a good deal. And by the way, what I had offered her was 2.75 on a jumbo. 30 year fixed rate at one point, 1,000,002 1.0.75. That's if she wanted to pay a fraction of a point. 4400 and $10 to get that. Trophy rate. The other alternative was 2.875 with not just no points, but no longer cost whatsoever. But, you know, she just met me so saying I think I got a chaperone. Okay, so then she emails me here over the weekend, a quote. For a Vallone and we talked about this because her husband is ex military. I said, Well, you know another possibility as we could do a jumble of the law. That's a real thing. Um, and there's a formula for for determining what that maximum loan amount is so sure enough, she sends me a long estimate from a different lender with a Vallone quote at 2.75. And what she really, really liked about. It is she would only need about $140,000 at closing. Which she has instead of the $470,000 that I was talking about for a regular jumbo loan. So that was the attraction. But, David, can you predict? The Problem with the Valon. For the drawback was calling well, the V A. I mean, it's an amazing program, but the V A doesn't do it for free. And so that the, uh almost always unless you have a service related either injury or disability. You have a funding feet, which is a percentage of the amount of money that you're going to borrow, So it's not. It's not free and on a big loan amount like you're talking about extra. Don't say the number Yeah, Let's do it when we come back with under the category of the rate is the bait, and the closing cost is the hook. And I even mentioned that to this home buyer When I talked to on Friday, Don't forget the rate is debate. The closing costs are the hook. We're going to tell you just how high the closing costs are. When we come back on a VHS alone you're listening to the academic, mortgage and realty show. On a M 6 20 wtmj. We keep you safe, warm and drive by. It Takes one to know one. You remember that, saying? We believe it holds true When you.
Marketplace with Kai Ryssdal
"national association realtors" Discussed on Marketplace with Kai Ryssdal
"It's trickier this. Labor market is behaving in a robert strange way. We know that we've got eight hundred thousand jobs to make up from before the pandemic but we also know that does a record level of vacancies and million so something is not quite working in the labor market. That i think is gonna take longer to sort out muhammed. Hillary and he is Chief economic adviser at alliens also in his spare time i suppose. The president of queen's college Cambridge dr earlier. And thanks for your time sir. I appreciate it thank you. This is a big week for housing. Data the national association. Realtor said today pending sales of existing homes fell last month almost two percent from june. It is the second month of declines. We're going to get the benchmark case schiller index tomorrow. That is home prices but a story now about the stuff that we put in our houses the biggest furniture chain in the world that would be i- kia is getting into the buyback and resale business as a way to reduce greenhouse gas emissions. Starting today at one store in suburban philadelphia the company's going to pilot a program to buy back. Its used furniture in exchange for store credit part of a plan. The company says to keep all those billy bookcases and malmo bedframes from landing in the landfill. Marketplace's amy scott reports. There's already a huge market for used ikea furniture. A quick search of craigslist. Dc netted six hundred thirty six items including an ex torp sectional for two hundred dollars. But what about what doesn't find a home around. Nine million tons of furniture are thrown out every year in landfills. Jonathan madison ski is a home furnishings. Analyst at jefferies. You really just need to walk. You know midtown manhattan to able to see that in in terms of folks moving in and out. Resale has taken off in the apparel industry with retailers like nordstrom and macy's and online sites thread up and the real real touchy waylon directs. Nyu stern center for sustainable business. She says i kia faces a big challenge in meeting. Its goal of zero waste by twenty thirty. It's not exactly known for durability. They may start to design the product. A little differently right if they find that there's a second life and more money to be made on it lasting a little bit longer. Other companies have a different take on sustainability. Michael barlow is ceo of furnish of furniture rental startup. his company went through kia's corporate accelerator. So he's diplomatic. We're not putting jeep. Veneers out there with customers in the first place because we need to refurbish those to a like new state and get them into a second third fourth home and that doesn't come at billy bookcase prices. I may me scott for marketplace. So we've got a bunch of shows that our podcast only you know that right million brazilians uncomfortable the uncertain our also yet. If you need to miss on your local public radio station you can get this program and david program in the morning in mice program on tech..
This Week in Startups
"national association realtors" Discussed on This Week in Startups
"Instead of putting it on the open market hill market it to only clients which helped him build his own business and when he's doing he's obviously screwing you because we'd rather have ten offers than one offer why gopher that To a well the argument would be that. We're not gonna put your listing on the web that we can get a quick sale. And i would just argue that if you want a quick sale the best way to do is put it on the internet and get as many viruses possible Sometimes it is just kind of playing his own game where he's trying to build his own business and so agents started withholding listings. So that you come to them. And the reason they're doing that is because of the rise of Zillow realtor in trulia Where they think. Oh god you know the only reason seventies kind of come to my little website. I have a listing there that nobody else has and so they have started to succeed in splinter in balkanize the market. And look if you're selling electric shavers or app crunchers or desks chairs. Go mess around all you want but running. The housing market is a public trust. And you have been hired to sell his house. You're fiduciary obligation to the person who who hired you too many bidders as you can but you also just have this trust that it makes people feel terrible when a moving van shows up in front of a house when there was never yard sign we should all get a chance to live in that fancy neighborhood and right now you kind of have to know the secret handshake in a couple of places in america and it is so evil and wrong. It goes back to the whole smoke-filled backroom bs of the real estate industry in the fifties. So yeah feels a little radio house. Gedi feel feels racist so the doj case with the national associated realtors was supposed to be resolved and just hey we want to audit some stuff. And the i guess. The national realtors backed out. What's that case about for a lay person. Well it's been about is just read sen wants to be able to show for every listing. How much you pay a buyer's agent so when you sign up to sell a house you agree to pay the agent who brings you a buyer two and a half percent or three percent and by the way one juicy weird little fact. I know this complicates the matter slightly. But it's worth it. I promise you is that when i virus. When businesses sell houses they'd k. Real estate agents much much less hammond so consisted fifty percents the fees or one point two percent instead of three percent one percent. They're driving it down in basic because people who worked on wall street as asset portfolio pitchers are now charged with liquidating a thousand houses. And of course you look at the commission's you pay and you get a discount and so what we wanted to do is just tell all the other people listing their houses. You don't have to pay a buyer's agent that much. We want to publish the commission on our website. So you can see. Each listing is paying and there's a little bit of a brouhaha about it the doj and the national association realtors worked out and now they have decided that they're at odds with each other. And i think the real juicy thing here is not just publishing the information. That used to be like okay. That's what we're gonna fight about now about. Actually we want the buyer to be the one who pays the buyer's agent and when a buyer has to get out twenty or thirty thousand dollars to pay a buyer's agent. They are suddenly going to become very sensitive to the prices. They're paying and that is going to compress the market quite a bit. So i think i think it used to be about an obscure website feature. Now it's about the whole dual agent system in the united states. That doesn't exist anywhere else. Where you pay to agents and you pay them both what you would normally pay just one and it was a seller. Who paid both what you're saying. Is that the seller. Could say the buyer is respirable as asia agent. You wanna have an agent to negotiate against me grades you have. This is so brilliant because what it does is it makes to customers for the real estate agent. One of the problems with healthcare in our in our country is when you and get knee surgery. We don't know what we paid and we didn't comparison shop but if that's the same thing i suspect correct me if i'm wrong and real estate which is if i if i don't have to pay the buyer if i'm the buyer and i don't have to pay the buyer commission. I don't care what it is. That's the seller. Screw the seller. I hate the. They're making too much money. But if i have to pay them. Yeah i'm gonna say you know at three percents a little too rich. If i'm buying a four million dollar home i don't pay you one hundred thousand. I'll pay you twenty five thousand but i'm not paying you under twenty thousand. Forget it. so they're going to create a second buyer the system. Wow so you're saying. I when i list on redfin i could say i want the not only man. I'm not going to give you three percent or two and a half percent. I want you to pay it. I'm paying zero dollars. While i think that's the doj is trying to get to. They're trying to force that issue. Then it would. And i just think that you know. Listen if you're a great buyer's agent in you do a lot of work to protect someone from buying a house about fall apart. You should be paid for it but the person should be paying. You is the buyer and that person is going to be careful about how much it's worth so what turned into like a said what started as sort of a a nerdy little..
Scale The Podcast
"national association realtors" Discussed on Scale The Podcast
"I live in a neighborhood. It's called it's called like east sacramento blankets downtown area. And i really. If if i'm a real estate broker like that's the place i wanna focus. Can you guys give specific in. And like i want to focus on you know homes that are selling for half a million dollars in above home valuations. I'd almost want to have like home valuations for luxury homes in some way or some something in that state that i wouldn't take three hundred thousand dollars listing but just to say if i'm gonna spend money that's the kind of money i want. How do you. How do you guys break up like regions. And like if i if i have a lead you know quality like measurement. You guys have all that kind of tell me about that. Yeah in actually works through the media and advertising and so we'll take facebook for example with facebook. I could say give me one ears of any sacramento nine five eight hundred nine so i can go into facebook and say i want everybody nine. Five eight nine one. Who's thirty three years or older. Who owns a home and that home has to be worth three hundred thousand or more to see dan's at now and people whose homes with less than that or large homeowners or more than that age range that we're looking at aren't actually seeing your app so you can get very very targeted with who sees your add in a specific area. The caution point though is as you become targeted. Your closing that reach. As far as the number of people goes. I mean with facebook. You could actually say i want. I want everybody that gosh everybody. That's thirty five to forty five two kids that's christian. That has an interest in water sports equestrian and and they have that kind of information so that only those people will see your ad at now. That might only be ten people in your area so you wanna keep your targeting as broad as possible and slowly taper into us working so that you can try to duplicate type of lead. You're converting higher percentage. I we're tied rather than quality. Maybe as a as a lead descript because it is like an ideal client profile. Yeah but what about somebody who's own their home for like five years because on average home homes churn every seven years and in in the us and and and this is another step. That just drives me nutty. Every seven years people you buy your first home seven years on average you move up to your next home and that home is fifty percent larger than your first home and all of the people all the agents. Who helped you by your first one. You know that on average nine out of ten would have used that same real estate agent but unfortunately only one out of ten actually stays in contact you know and so meshes the staff right in. It's by the national association realtors but like can you even get new dive even more specific into like they've owned it for seven years. You know that really. I think starts to get more into farming techniques when you're farming is more of a finite specific area as a as as lead generation being my core competency. i'm going to be really more focused on generating hundreds of leads. So the more we get to targeted it becomes more and more of a farming technique on where eyeing targeted marketing to. And we're gonna we're gonna generate the lead and nurture the lead as opposed to target market somebody to bring them into the full so it's a little bit different when when you get to two focused right all right okay. Cool a couple of questions from the audience here. I wanted to address. The number one is video going to be available for for later and dan. Yes it will actually going to be right here on google plus page but the question i wanted to bring to you. Matt was from jason jock. I've done a lot of facebook marketing. But i haven't seen the ability to find quote homeowners. The option seem very basic. So where do you find this and answer that. Yes i can answer it kind of broadly because again i'm not an ad manager who's actually posing the ads on facebook but if you get into the settings part of it you know one of the best thing would be. Why don't i give you my email address. And i can get an answer for you specifically to that from one of my ad managers we. Typically managers are focused on clients that manage their ad campaigns for but if we can point somebody in the right direction. Give them a tip. We're all about doing that. Well can post. We can post on the school. Hang out that question and then you can come in afterwards and and answer it for everyone and so but. I know that i know that facebook. Here's what happens when you buy and we use facebook a ton. Advertising higher virtual since over in the philippines and is our number one lead source. And what happens when you start spending hundreds of thousands of dollars which we do to find great people. Facebook gives you an account. Executive and google gives you an account executive so matt because of his spend is going to have access to options that maybe you might not and and i think that would probably answer the question specifically but i'm medal find the answer for that. What what other questions..
Pat Gray Unleashed
"national association realtors" Discussed on Pat Gray Unleashed
"Kaya. Trysts colleges the health specialists slash mall. Cops that's a good title. Yeah yeah it's really good title so you know murder. They're calling it murderer. Apples the murders priest so much rap in minneapolis and the city council voted twelve to one to push a petition. Drive to replace minneapolis as police force with a department of public safety. They're going to put that on the november ballot public safety a department of public safety. So that'll be on the november ballot. It'll be interesting to see how. Minneapolis people minneapolis. Minneapolis funds. if you're from minneapolis. What is the word for you. Maybe you can let us know. But the minneapolis. Lights minneapolis middle. Whoever are they're going to have a chance to vote in november on replacing the police department with the department of publicity the headline right where. Blm wanting them was for more police. What i think so. I think the headline was the police but they might that. That might actually be like the susan serandon had where they're they're more for the. Yeah we want more police. The community health professionals police. They might have that because they they are finding look. I mean he's cities are out of control right but i blew. It was specifically minneapolis. I believe it was people that whatever they call themselves that it was b element minneapolis. That wanted more police because of the crime. Amazing i it's it's bec- because of you right. Problem is all stop committed the crime riots and putting police into the situation where they're afraid to act on. Look inside yourself sir all right. Let's go to julie in ohio. Hey julie you're on the blaze. Good morning gentlemen. Morning duly Just wanted to let you know. I got a bingo all right all right. Tell us where you're bingo occurred. It's the second row across jeffey mentioned urgent fury. Stand up. chuck okay lang sick crap. Thanks i want my bleep and trump back okay and of course pudding of course a good job julia so we set you up with thirty five dollars to get some stuff. Okay all right. Thanks for listening. Appreciate it and thanks for playing a great day youtube to thanks for listening all right. That'll that'll be at pat head shop dot com where she can get that and by the way if you want delicious cookies this week and i think today and tomorrow are the last days you can get the the butter beer cookie but so delicious so good. It'll come back up again later. But it's one of those limited time the hot chocolate the hot chocolate. That's probably talking about the hot chocolate. Come back at christmas. I'm pretty sure. Well it's almost christmas now too so very close. Were very close right around the corner so go to tech c dot com to get those delicious cookies keck. C dot com. You know what you could do is you could eat kaxi cookies and then watched the olympics. This weekend yes you could. Nobody's watching you can probably get online real quick and watch some events somewhere There's nobody watching. I saw a swimmer yesterday. I was so happy to see this. Caleb drizzle is his name and he won the hundred meter freestyle swimming. And i thank you set a world record But anyway he he won the gold and he's standing on the podium and the national anthem starts play. Did he neil. Do turn his back on it. Did he spit no What he did was something revolutionary. He put his hand over. Its heart and wept out. Played hugged hip. Nine now of product is whites premiss coming just to walk away. No quit right before the event of a mental health day right enough already. I could probably set the world record. But i'm not going to know i've just i've done this for a long guy. How much pressure go ahead. Just leave that lane empty. I'm going stressing me out. I'm just gonna go right now. I'm going to go sit in the stands and watch the last night. I'm watching some of the gymnastics. She's there she's still sitting in the stands watching it. You couldn't compete. You had to sit in the stand thank you. She said she was suffering from something some twisties or some christie said on the screen water for. I don't know. I'm suffering from twisty looking good gymnast suffer from i've got twisties i can't come to work So are you a now. No but i've got twist easy. You don't have to be a gymnast. This isn't the national association. Realtor is where only realtors active members of the national so she one of our one of our listeners picture last night of their Of their sweatpants that they wear with. They wanna feel like simone biles Because we know that You know simone is You know nike's just do it or now Just quit But this fan says his. Just give up sweatpants and see if you're watching a blaze tv. You can see the picture of this well pounds. Who said they were. That's what they wear a days when they need mental health day. That's fun though. I mean that's that's gonna be that's gonna be blistered by the left as racist. I know well whatever. I was doing so ridiculous now that you have to praise the person who quit. Because that's the thing you should do. Well she was so courageous to take a mental health day. That's so courageous. She took a mental health fortnight which to americans who are not in the. That's about two weeks so she quit not just went nuts. Two weeks the it's not just the dishes. She quit for the individual condition as well. It's amazing that she's still. There truly is amazing that she's still there. It's like what i mean. How bad could it be. If you're sitting there in the stands you're.
KSFO-AM
"national association realtors" Discussed on KSFO-AM
"And I'm delighted her with us on this July weekend as we bring you $1000 ship, a special program designed to uncover secret savings around your house with the goal of helping you save at least $1000 in the next year. Well, look at energy, your mortgage, your insurance and much more in the $1000 show. But first, let's go to the real estate today Newsroom with Bill Thompson Hi, Bill. Hi Steven truly extraordinary other words being used by one expert to describe home price growth. According to the S and P. Corelogic case. Schiller home Price Index prices in April were up 14.6% year over year, prompting that extraordinary comment from Craig Lazara, managing director at S and P. Dow Jones indices. Meanwhile, Ryan Gorman, the president and CEO of Coldwell Banker told CNBC It's anyone's guess where we go from here. But I'll tell you, the fundamentals remain incredibly strong. So you're talking about some April numbers. There have been some National Association realtors sources in May numbers. Everything is very strong. We're really debating whether we're at the very high point or one step removed from that. Also the latest F H F A House price index shows the prices in April were up 15.7% year over year. So has the housing market peaked. New numbers from realtor dot com I offer a clue, senior economist George Ratu said in a company produced video dot com Data point to an inflection in real estate activity, suggesting we may be passed the peak of this overheated housing market sellers continued to list more homes for sale. The net effect is a welcome slowdown in listing price growth in June realtor dot com reports new listings were up 5.5% from a year ago. And mortgage demand has tapered off recently Rob van right forces, a spokesman for the Mortgage Bankers Association, Homebuyer demand heading into.
KOA 850 AM
"national association realtors" Discussed on KOA 850 AM
"Old daughter, Gianna, her friend and five others board a private helicopter in Orange County, California. The group is headed to a youth basketball tournament at Mamba Sports Academy in 1000 Oaks, a little over 70 miles away, just northwest of Los Angeles. It's a frequent destination for Bryant and his daughter and the pilot has flown that route many times before. But on this foggy morning conditions are different. The five freeway maintain specialty authority. Question. Special VFR conditions edible in 2500 or below 2500 I five North bound to English. The pilot notifies the tower that he's climbing above the clouds to echo X ray. You're still too low levels for flight following at this time, moments later to Echo actress, hotel radio silence. We're getting reports that NBA star Kobe Bryant and at least four other people have been killed. Five time NBA champion former league MVP Kobe Bryant died. NBA star Kobe Bryant was on board that helicopter and is now dead at the age of 41. I'm Steve Gregory in Los Angeles. The death and life of Kobe Bryant is a limited series podcast that will take a look at that tragic day. The media coverage on the scene. The confusion, the investigation. The autopsies controversial Monday News time is 5 12. Pat Woodard is here Another day, another upward tick on gas prices. It seems as if we're doing daily updates on gas prices. You're not wrong, and it's because gas prices have been going up on pretty much a daily basis. They're up again overnight. To their highest level in seven years. The latest numbers from triple able to national average price at 3 12 a gallon that's up half a penny from yesterday and up a nickel from last week. Last year. At this time, the national average price was 2 17 a gallon Where did the first half of 2021 go well, let's see how it went for your 401, K or other investments. Stocks closed out the first half of the year with double digit gains, the doubts hired by 210 points and up more than 12% for the year. The S and P up five in gaining 14% for the year, the NASDAQ falling 24 points. The corner mark both the Dow and the S and P 505th consecutive quarter of gains. That is their longest streak since 2017 in New York. Geri Willis Fox News As for the second half of the year, which starts today, stock futures point to mixed numbers at today's opening Bell. The financial services company, Robin Hood is going to have to pay a big fine. The company has to part with $57 million for problems, including system wide outages Those happened in March of last year. With the market crash that came with the coronavirus pandemic. Robin Hood will also have to pay nearly $13 million to clients in the form of restitution. Those penalties were issued by the financial industry Regulatory Authority. Amazon wants the Federal Trade Commissioner Lina Khan, recused from all Amazon related Anti trust cases that the agency might take up. Amazon's newly filed petitions suggested to FTC tear lacks objectivity, Kan's been an outspoken critic of Amazon and played a key role in driving up some of the break up big tech talk that's going around Washington companies letter. The FTC says that Con can hardly be fair when she's publicly argued Amazon is guilty of antitrust violations and should be broken up. So much for projections from the experts pending home sales are spiking, even though the experts predicted them to come down the National Association realtors as they rose 8% in May when compared to April the numbers and they are actually the highest for that month since 2000 and five. The increase came as experts thought pending sales were declined by 1%. Things, figuring that people are getting priced out of the housing market. Next money update Coming up at 5 42. Pat.
WMAL 630AM
"national association realtors" Discussed on WMAL 630AM
"Good to be a Democrat. But you know where the world is Matt Lauer anyway, because, uh, You know, there it is. They all knew about it all along. Everybody knew about it. Everybody knew about it and nobody, nobody told because they're Democrats en. It's a great big, corrupt circle fest in a hot tub. This is the Chris Plante show. W M A L F M WOODBRIDGE, Washington America's reopening Here it here. 15.9 FM W M A L. A Cumulus Stations News Now. W email news at 11 30. I'm Barbara Brit. The news sponsored by Express employment professionals, a former city official in Florida, who had assured leaders that a condo a Florida condo was in good shape. Three years before it collapsed, has now left his new job statement from the nearby city of Doral, Florida, says Ross Endo, Ross Prieto is on leave of absence with the contracting company that does business with local governments. The death toll from the condo collapse now stands at 16. The House set to launch a new investigation into the January 6th capital riots today with an expected approval of a 13 Person committee to probe the attack. The panel led by Democrats, with House Speaker Nancy Pelosi, naming most members More Americans signed contracts to buy homes in May, even as a lack of inventory push prices to record levels. National Association Realtors Index of pending home sales rose 8% last month to the tightest level since May of 22,000 and five W M a L traffic.
TalkRadio 630 KHOW
"national association realtors" Discussed on TalkRadio 630 KHOW
"And home buyers. Our theme today is how to negotiate fairer, more flexible real estate commissions in this market. And then in small print or any other market, either. This market is different. Larry, Economically speaking. It certainly is especially in along the front range where It's pretty crazy, in my opinion, no way you say, especially along the front range? Yes, especially along the front range and 90% of the rest of the United States of America. Also, Larry, what's going on here that five years ago was only in a few cities. In the country is now basically everywhere. 100% of the cities in the National Association of Real Tourist Reports over 210 cities across the country. All of them are having appreciation that's never happened before, by the way over. 80% of them have 10% or more. Appreciation, Larry It's everywhere, but sure we focus heavily on our lovely, beautiful as we say, colorful Colorado. Well, that's our home base, and that's why we're there. I talked to a friend of mine who lives in Roanoke, Virginia and Roanoke. Virginia's having the same issues that we are Maybe not quite as extreme. But it's surprising for Roanoke, Virginia to have the kind of demand they're having it is and that's surprising on a lot of these cities. By the way, probably, I'll say 65%, or more of them have not experienced this before. This being such low inventory such high number of buyers wanting homes. We're going to talk a little bit about that market data today and therefore having bidding wars and well, what do we do? Well, you know, Denver face that six years ago Colorado Springs four years ago where the experienced troopers if you will. We're the Warriors in this who have years of experience. But the theme is how to negotiate fairer, more flexible real estate commissions in this market because it still is very doable. It's easier for sellers to have quote Fairer, lower proper what we call proper, flexible and fair rips commissions. Buyers have some other considerations to make and we're going to take it segment by segment. In this segment. We're talking market data. Let's take a look at it. The median prices by the way, the medium price In the western United States. Including Colorado is $500,000. 500 were above 600,000 in Denver, where above 4 50 in Colorado Springs. And so, but the west of the, uh, the National Association realtors divides the country up into four parts. They're not equal parts, okay, but but We are in the West, the highest by far by a great large margin, where the highest median price at 505,000 To be precise, however, is Denver's above 600 continuing to be strong, Larry, I just wanted to get one little small industry controversy out..
Animal Spirits Podcast
"national association realtors" Discussed on Animal Spirits Podcast
"Cuban and i listened to it today and mark said that his dad always said you. Don't live in the world you were born in does good line so to all of these people that are worried about the seventies and i'm not saying there's reasons not to worry but maybe people to anchored to a different economic period and again with this experiment. We've been running. No one really knows what's going to happen so why not try to massage it on a good way instead of a bad way. So here's the good side of what's happening right now and let's be clear. I don't think inflation is happening today. Because wages arising inflation is happening. Because it's more of a supply thing we'll see where we go from here but there's an article in the journal. Tight labor market returns the upper hand to american workers. Well it's been a minute. here's something to smile about. Pay for those with only high school. Diploma's rising fast enough for college graduates once that happened and you see where pay is rising. It's in leisure and hospitality. It's in retail and it's been forever forever since labor had the upper hand or even any hand. Frankly so there's a great chart showing the employee compensation as a share of national income wages and benefits average seventy two percent of national income from nine hundred. Seventy two hundred ninety five and then steadily declined fall into sixty six percent. Two thousand fourteen. Here's where we potentially get into trouble. Power shifting to labor which is great but then it may be a simultaneously shifting to big corporations who could the price increases at the expense of small business owners. I do think people are overlooking. The unemployment benefits are part of obviously and people have more money because the checks and their finances are better. But i do think people are overlooking the fact that you have more negotiating power and maybe a lot of people. Just don't want to do those jobs anymore. I think that there's a lot to do with it. Well yeah so. This just dropped from washington post six hundred forty. Nine thousand employees gave notice in april. I think there's a retail workers. Which is the sector's largest one month exodus in over twenty years. Listen to this quote ben. To your point this is a twenty three year old from tennessee. Who left her eleven dollar an hour. Job as an aquatic specialist at a national patching. She said it was a really dismal. And it made me realize this isn't worth it. My life isn't worth a dead end job. This is a positive when people are quitting their jobs. I think so. That's a sign of positivity and people optimistic about their process again. better job or higher pay. You could say like it's a net positive while also being sensitive to the fact that there are people who can't find workers. It's hurting more people than it's hurting unbalanced but there are people that are being really impact you looking at both sides here but couldn't you say if you made your business by paying people below living wage than maybe. Your business wasn't sustainable in the first place. I think you could make that case even if it's a small business if you were paying below living wages than your business wasn't made to point taken. This is complicated. But i think in general people in the lower end trying to make more money and making more money is a good thing all right. Let's get into housing. We've got a bunch of stuff on housing this week. There's just a deluge of content housing. Which i love. I heard a bad anecdote this week. There's another house in. My neighborhood came on the market. They're asking eight hundred thousand dollars and the house is nothing going for it. it's got nothing for. It's probably two thousand square feet. The backyard is john. I mean quite literally. Every single room looks like this to be redone. And i'm not talking about the has not been renovated since it looks like the eighties. So i don't know they're gonna get it but the fact that it's even being listed for eight hundred thousand dollars my boggling and i know we talk about and we're going to talk about it right now about the credit quality of bios is super strong so people aren't sucking out the equity and buying multiple houses and flipping and again just an anecdote. But somebody. i know who does not have great credit score has bad credit score in fact does not have a high income was approved for a two hundred thousand dollar house. So you're saying it's starting to maybe trickle down a little bit. I don't know it's just anecdotal. But when i found that out i feel like i raise an eyebrow we are in the total one upsmanship of housing anecdotes. It's like you tell a story about a crazy housing thing in someone else's got another one. Oh yeah guess. What i heard. We got a lot of that. I'm not gonna try to want to be though this wall street journal for many homebuyers of five percent down. Payment isn't enough i've never really seen his stats in. This was interesting to me half of existing home buyers in april who used mortgages police twenty percent down. According to a national association realtor survey in ten years of record keeping that percentage has hit or exceeded fifty percent three times in all been since last fall. Quarter of existing. Home buyers has paid cash. That means seventy five. Percents are putting down twenty percent or paying cash. That's a huge number. So they're basically saying if you put a low percentage down you're out of luck so for my first house we bought. We were sorry to say one thing. We talked a lot about like people with people that are getting shut out and again. I feel horrible for those people that are looking at the money. It's also wild at seventy five percent of people aren't good enough financial shape down twenty percent of moral. So could you say that people are doing quite well very well. Yes a lot more people in the past. Obviously that's shocking to me that that many people have even twenty percent so the first house we bought in late two thousand seven early two thousand eight. We didn't have enough money saved up. We were just married a year. Basically and all we could afford was a five percent down payment on a house and the bank. Let us do that. If it would have been twenty percent we would have been out of luck and would make it. Did you have to use a target date fund us collateral but they talked to a few people in here about this back in two thousand fourteen. It was ten percent lower or something but they were saying this is a mortgage broker in there who was saying at least fifty percent of his first time..
KPRC 950 AM
"national association realtors" Discussed on KPRC 950 AM
"We're here today without a majority. He is the chief advocacy officer with our local association, where I'm at calling County Association of Realtors, But he does more than just this. He helps us in Texas, and there's just so many things, but we're gonna bring Adam back and we're gonna talk about kind of what we went through during covert and how they helped us as realtors and Homeowners and everybody kind of stay on track with goals. And so, Adam. Thank you for sticking it sticking around and coming back this last half hour because we have so much, and I know I'm gonna want to have you come back and come back. So, Adam, tell me what all happened because I mean, I didn't miss a whole lot. You know, during the pandemic we had, you know, we we took care of our You know our face mask and all the protective things that we had to do, But we really continued helping our clients for a lot during this will tell us why we were able to do that. Oh, yeah. First and foremost, I'll just say that 2020 real, So 20 pointy was really approved of how well all of the Realtors kind of at the local state national associations how all the government affairs advocated, staff were able to work and handem effectuate. No, just real estate being will be stable, so I'll get started very beginning. Marvin Jolly, who's also the Texas real to president that you're are terrible. He's also needs a member of calling County associations. Well, he sent me a text. I was actually at my My in laws, my in law's farm out these, he's texted. I was on vacation and you can be attacked. He was like, Yo, you know, we're starting to see some of these rental restrictions and addiction moratoriums in other states Because the cocoa butter is about to pick up. It was like the end of beginning of March. I'd say the end of February. And what that prompted me to do is start to reach out to our local Our local cities and are calling county in particular the county itself and start the conversation of regarding what it's gonna look like when these these kind of moratoriums and restrictions are coming down. And so we were at the table. A local level. Or at the very, very, very beginning, so we already established contacts of to be the contact people regarding any type of real estate issue. And that was wonderful. Because what eventually happened As everybody knows, the federal government started shutting things down, and then the state government would issue either in the governor's themselves would issue their own orders. So what happened prior to the governor Issues order was That we were already in contact with everybody. We were, uh, probably just first held, issued an order basically stating that all business was a central, which is normal. And yes, included real estate. And then he started having little yet cities not just calling county across across the faith issue in their own little orders kind of pre empting some of the stuff you had all these kind of weird shut downs across. Various cities and counties that didn't really make sense and how they work together. And then you had so at the federal level. Our federal lobby, the National Association realtors lobby was able to Is that we get the I say two point Oh, released. Which Included real estate as an essential service. We've been promised governors across the country to include that language in their orders. So that was cute. So that made real city not simply just essentially calling county but across the state that is absolutely massive and kind of fast forward a little bit. We had the carriage, Zach that past which was a huge look, Everybody knows was like a magic act. But one of the things that our federal lobby was able to ensure is that independent contractors We're able to get tpp and SP a loans. They were also able to file for unemployment. Which has never happened before. So that means that if your name had been a contract, and you're infected by and you were affected by Kobe Usually are or you want to go out of your out of business. You don't get the file from where Under the carries act, you're able to file with the Texas Workforce Commission and actually get Some type of relief. From has never happened. It was a shocking I was surprised when I heard about like what really is the National Association of Realtors, the larger trade Association of the world, and they have the largest amount of independent contractor Right? Uh, they absolutely crushed it on that. And it just I'm sure that even our members ever having a hard time with property, even though they were considered a century, and they were having a hard time with the business. They were still able to file for unemployment. But you think that that's what wonderful. Um it was mocking s talking. But I mean, this is just this is just like a perfect Advocacy storm right. And so after that, after the character actors that certain types allegations were given the state of Texas and every state across the country, then The state government was able to allocate the local counties and the counties to local cities. Certain types of You know if you want to call it coded relief funding that game in the federal government and pollen count I was I was lucky enough was blessed actually. How I was glad Prevent the real estate community along with thrill crone with the figure of a doubt Shoulders association. Judge Hill appointed us to the Collin County economic Recovery tablets. And one of its main purpose is was to really figure out. You know the best practices of the business end of the businesses across on county and how they're supposed to operate. And that was great, because you know there are restaurants, restaurants on there. There were regular You know there. There are other types of the effects of businesses like retail except to and it was a really great group of business. People kind of figure out the best practices. During Tera College is still operating, and I'm happy to report that. No, we had Judge Hill and and the commissioner support. It's an absolutely incredible job, insuring that on county was operating, and then when we got the cares about funding or when I'm falling down, I got carjacked funding they they allocated. I think it was 45 out of $147 million To go to tenant, Mortgage and Tony assistance, which I believe for a large counties, probably one of the highest allocations and the state. Judge. Hill completely understands. And so it's sort of the commissioner's court. They completely understand the importance of your state and how it how it basically funds government and how important it is. And you know, I always like to joke. You understand home order if you can't offer shelter Right. Exactly. So, so the so you know, I'm just saying like, so if you think that that's simple, it's that simple. But if you combine all that together, all from a local state national stuff, right? I mean, that is just the massive victory to the infrastructure. That new invest from your dues members from your dues bill every year. You invested in all of that for years and let's go hug a Realtor. Go 100 reasons..
News Radio 920 AM
"national association realtors" Discussed on News Radio 920 AM
"With movement mortgage is here today with us and you know that he comes on the show frequently, because Matt just does a ton of business here in Massachusetts. This company does all 50 states here in the United States, and he knows He knows what's happening in the housing market. So Matt welcome welcome back to the show. But Thank you. Um yeah, definitely. Learning something new every day, and I love to come up on this show to share share what we're learning on here. Absolutely. But so you know, I got a lot of people. We get a lot of questions in regards to Oh, my God is the market at its highest. This isn't that and I want to go over some information that comes directly from the chief. Is the chief economist for the National Association of Realtors. Know this guy's very smart. I knows this stuff. His name is Lawrence Yun, and he's been doing this for years. He studies the economy all different parts of it. What drives housing values how long we can anticipate anticipate these two go for it. He spent really on point. Obviously, a because he still has a job would be because this is what he does every single day so that there's a growing number people that are calling this housing market of bubble. Okay now Lawrence Yun, the National Association of Realtors chief economist. Says quoted. It's not a bubble. It's simply a lack of supply. Now your feet are on the ground. My feet are on the ground. I love to hear your take on this and you agree with our chief of our chief economist at National Association realtors. Do you have a different opinion? Why? Uh, I am well normally before Coben. Ah, very regular detail that went over with Ah lot of central homeowners and whether they're considering to buy a house. Not exactly values appreciate overtime. You know, every year you get out of appreciation. For the value with Kobe. It just really increased. What a normal appreciation is for houses because people you know for the supply really love people, but don't want, you know. Heard the buyers come into their house their their nesting right now to make sure they stay stay and clean and virus free and then not spreading the virus and No, that's all really good stuff. So you're naturally there's a large part of what the potential cellar that there would be selling right now are holding off until maybe they're vaccinated. The baby, you know the virus dies down or maybe the government starts to open up a little bit. You know, they're not taking any risks of selling a house and buying another house and And because of that, the supplies really low, so but, you know, appreciation is natural. Yeah, you know, you talkto you know anybody that bought a house 30 years ago when he asked the months of work Now it's almost double What they You know what they bought it for. So appreciation is gonna go off and house and values are going to go up and this factors that are gonna really dramatically increase that slow it down. But the bubble that people refer back to Was mortgage companies writing really, really bad loans like they were giving talk Dollar the people that had no business borrowing top dollar properties and when money access to money and access to mortgage loans was still available, that anybody could buy it. That means anybody was, like, all right, I'll just borrow 600 know about 700 know about 800. It just went crazy. You today, day and age, And what we learned from that housing bubble is that you can only borrow that money if you satisfied the ability to repay it. Zah guideline. It's a rule in our mortgage book. And we read strategically and make it a point to dive into the finances of every single customer so that we can establish their ability to repay according to state safe lending guidelines. So you know I got it because I follow all of that process on every single one of these loans. You know, we're not seeing people that are borrowing too much money and making up for You know, Matt, you're 100% correct. It's a hole. It's a whole different market. Well, different time. Different government standards, right. You guys have different rules in place now. It's very strict, and we know that when a buyer's prequalified for mortgage They can afford it. And back in the day in 2000 and five Had the no income doc loads and we still see these sometimes here and there right and it's mean I see advertisements for him, but I don't go any further into it. But Yeah, Billy E mean I hear you. It sounds kind of scare me, especially with what happened. But it's a very small percentage of the market. And from what I understand, you have to put a substantial downpayment down. So I mean the market would have to slide like You know, 25 30% for them to the bank to take a hit of that, um, enough selling coop, but You know, In addition to what you were saying that because you're 100% correct is just the the lack of people that their homes on the market, the black supply and you, you also touched upon People were nervous when covert hit. I watched the supply the housing supply last year dip down and I mean, I'm talking at some points right? When the news of Copan hit we saw hundreds of houses. Come right off the market. We're already in a very low inventory market. Let's let's kind of take this back a little bit. What do we mean by when we say obviously alone Hitori market, I want to get a little less technical here. Just means the supply of hope So normally in a balanced market, we have between five and six months of a supply of homes. And basically what That means is if there's nothing new that's listed. For a home within those 56 months that then there would be the Inventory would be exhausted. Be nothing else for buyers to purchase right in Rhode Island right now, your half of the month were like 15 days supply. You know you could stretch it concerns the police say about 25 30, but literally if there was nothing else listed. That we would run out in two weeks. Yeah. Yeah, we would run out and roughly roughly to be some stragglers. It's not me that Neil over the work, and one other point I wanna make here is that there's 3.5 times as many pending single family homes as there are act holes. That's how asked the market is moving. You know if there's anyone that can benefit you very largely from this situation of selling a home in purchasing a home or selling a home, it's somebody who is, you know, either relocating. Or somebody who is downsizing. Or somebody who is getting a great interest rate, which is almost everybody. And potentially.
Newsradio 600 KOGO
"national association realtors" Discussed on Newsradio 600 KOGO
"Happy Saturday morning to you. Thanks so much for turning in a marble tomorrow As I mentioned on the first part of the show, I'm going to be joined and hope I am joined by our seminar leader. Moderator Doug Tabor certified commercial investment. MEREDITH specializes in apartment properties with Keller Williams and also Bill Exeter Bill, CEO of his company, Exeter, 10 31 exchanges. And he is a qualified intermediary, which he'll take what that is and bills on Lee but involved 10 125,031 exchanges. So let's start with Doug. First of all, Let's say good morning and I hope Doug's on the phone with us. I'm here. Aubrey, can you hear me? I can't great. And how about Mr Exeter in Mission Valley? I am here. Yeah, I'm happy. And I want to say thank you to my kosher who makes all this happen and the go go studios, so I don't have Mike, doesn't he? It's a whole bunch of buttons and makes us look pretty darn good. So dead table. Let's start with you, Doug. I remember And I'm looking at Wednesday's Sango. You did, By the way, Doug. I'm looking at this number one, it says home prices at the end of 2020 rose faster and six years Phoenix was number one Seattle number two San Diego was number three at a rate increase over 12%. Unbelievable. Santa goes highest in the nation on indexes. That's the good news. The bad news. What if you're the owner of that property? And what if you are concerned about the bad news, which on the same page sending extend in Vic Shin Ban for renters and businesses? So Doug Tabor tell us about the rental real estate market place that paper. Well, thanks, Harvard. Yeah, There's always good news and bad news, right? It's never all good news. And that's where we have to kind of separate the two. You know, with the good news lot going on in the market as as I've mentioned Previously, there's an insatiable demand from buyers of all types. Everything from the single family, the condo all the way up to 2 to 4 unit, rental properties and, of course, Credible demand for the five arm or apartment buildings throughout the county, which by the way are down 40% of the amount of listing so 40% less listing than last year, which was already Real shallow year, so there's incredible amount of buyers that are looking for that limited number of properties on and what's really comes down to on all levels of the buyers cannot resist the financing. No, The financing is so low with the interest rates are so low on all asset classes that buyers are just taking advantage of this incredible financing these interest rates. I mean, a single family 2.77% roughly. That's incredible. And you know, we're also experiencing That story across not only San Diego, Phoenix, the markets you mentioned, but really, it's happening across the country. You know, we're speaking to a lot of agents within Keller Williams, Keller Williams, largest Brokerage in the company, or I'm sorry. The country and I speak to agents across the country all week long because we do business across the country, with those agents spending a lot of referrals. And all of those top markets across the country. There is Equal amount of demand. There is a shortage of properties and buyers in those markets as well and trying to take advantage of this incredibly low interest rate environment that we're in. Look since you and I have not had any chance to play in the show, so it's completely winging it. By the way I'm reading in The Wall Street Journal this early Saturday morning about the word bubble is very potentially even a bubble. And a cynical Southern California real estate market place. Well, Aubrey, I will tell you I do get asked that question a lot, and my response is always that I shattered my crystal ball back in 2008, and I did not purchase another one. Well, there's another potentially pale of cold water being potentially thrown on the real estate market place. Bill Exeter you were I was watching you on less. Friday, you were on a panel nationwide panel. Um, with big muckety muck with the, uh, National Association realtors and you were hand picked to be on the panel talking about potential changes and tax laws from the Democrats trying to find some money. So what's happening on 10 31 exchangeable Exeter? Good question you that that was a panel with Evan Billiard and he's the senior VP and really the chief lobbyist, If you will for the National Association of Realtors, and that was one of the topics we were talking about is what does he think would happen with tax policy. Um, what's his opinion and in talking to people on on the hill? You know, Congress both house and Senate and the administration. What does he see? What is he here? What does he think? And you know the focus for the first say two. Maybe three quarters. Sounds like it's gonna be covert 19, obviously lots of issues to deal with their and in terms of getting the vaccinations out, etcetera. So he thinks that the sooner we're going to see any kind of tax policy change might be fourth quarter this year, assuming that the economy really starts to show a good recovery, and everybody's you know, feeling good about it, or perhaps the first quarter of next year, And at that point all the things we've been hearing about where he's looking to restrict. He being the Biden administration is looking to restrict the ability to do a 10 31 exchange to those who make under $400,000, in a given year in also eliminate the step up and cost bases upon death, and things like that those those proposals would probably be circulated either fourth quarter of this year or first quarter next year's most likely case. And Bill. Obviously the word to the wise, his word to the wise. So the big key is anybody that's listening to us right now, or anybody that owns property that would potentially be subject to some of these potential changes is a word to the wise. It's the best time to obviously Do some brainstorming work with your advisor. Find out what your potential downside could be. And you may have a lot of time to potentially make some revisions and changes s O. Those changes would perhaps be grand fathered. Go take a break and come back and west the Tabor to, um, give us a continued update on the real estate market.
Newsradio 600 KOGO
"national association realtors" Discussed on Newsradio 600 KOGO
"Maura. We're chatting about the potential changes will be seeing now prime a potential changes, but the changes will be seeing With the Democratic Control House Senate and certainly the White House could be good and certainly could be not so good. But we are going to see some changes that's probably won't affect our pocketbook by the way. Again. Um Democrats are in control of Washington, D. C. The physical policy and again as I mentioned earlier, there's gonna be a lot of Texas somehow from a lot of folks to repay some of the dead from the stimulus and this massive proposals on the list of Democratic list this year. The key changes by the way that I've been hearing about the major major major changes is the income tax bracket will be higher from current 37% to 39.6, which is really what it was before Mr Trump was elected. Capital gain taxes. That means if you buy a stock Are your own real estate and you sell it and you have a big gain or a profit. The taxes could be going from a high of 20% again. 39.6, depending on with line in the sand is gonna be grown. And Bill expert which had about that give us his take on what Z what The speculation is with regard to the changes and a lot of that's gonna have to do with an interview that we heard yesterday by the way from the director of physical tax policy. At the National Association, realtors and collection or by the waves on that panel Bill be joining us again at the bottom of the hour. There's gonna be higher taxes to die. I don't need to be too negative on a Saturday morning, but wealthy people better do some very, very serious, very in depth planning. Because it's a break. It's an extreme penalty by the way for dying to wealthy Currently, by the way, a married couple can leave $23 million to the kids will have any taxes, Death taxes. I know that sounds like a lot. But if you want a lot of real estate, you start adding it up. You'll find that I'm worth more than I'm thinking. I'm a married couple again currently believed 23 million could be dropping from 23 million down to seven million back to where it was two years ago. By the way, S so you need to. Maybe think about doing some creative a state planning and we can certainly give you some direction on how to do that, as well. Can the we're looking at potentially seeing checks. Is there gonna be affecting quite frankly with people that make more than $400,000, and that's a lot of money. But if you make $150,000.200,000 dollars, that's great. But if you sell a property are you sell some stock that put you over that amount? Are you eligible to do? Some exchanges are well, your taxes, not be a 20% with it being almost twice that. We'll be talking more about that again, Folks, if you own appreciated real estate again after the 8 30 break. As I mentioned, I'm gonna be joined by our moderator and we have a moderator of duck Tabor and 10 31 Experiment. Bill Exeter at 10 o'clock today at our women are and you can see us by the way, a 10 On. You've been hearing our spots today about rental owner Workshop calm, So you go to rental owner workshop dot com. There's three words rental owner Workshop Come, He could join us a little bit for 10 o'clock and you'll be able to see Myself and certainly our moderator Doug Tabor and Bill Exeter again. Who will be joining me in six or seven minutes after the news break today at the bottom of the hour date, 30 by the way, There's going to be some changes. We just don't know what tools change is going to be. We have a new Congress. We have new bite administration and again. You want to join us at 10 o'clock and here our take. On potentially the changes that we can expect. We don't know exactly what they're going to be, but they won't be all positive. 10 31 Exchange, by the way, has been around 100 years and other than the epidemic pep everything. We had a couple of early part of this year more prudish country, whether century I'll get there right in a minute. Uh, We really haven't had such an interruption in our economy literally and almost 100 years and we're gonna be seeing some potential changes as result of trying to recapture some of the tax losses by the way. Not some good news. By the way they fed a reserve is kept interest rates virtually at zero. Obviously, to stimulate the economy. It's been a boon for the stock market stock market's been happy this year. It certainly hasn't been happy this weekend. Or yesterday because of the problems of a company called Game Stop Games stop. It's a video gaming stock that's really, really more of a gambling and his calls to stock market to really, really be nervous. The dal yesterday closed down down 622 points down around 2% under 30,000, so it closed at 29,000. 9 81 sort of negative for the year but still about a 4% up of the last three years, by the way. S and P 500 that big barometer of the stock market, By the way, closed yesterday. 3007 14 down 73 points just under 2% down again and again sort of flat for the year. But, however, the S and P s average about 9% over the last three years, by the way. Tech heavy NASDAQ, You know those Microsoft's and Apples and Amazons closed yesterday at 13,007 0 down 266 points again down 2%. Around 3% up for the year for the year and again over 20% average over the last three years. So the economy is doing well. We've had some hick cups of this week. Another reason to diversify, diversify, diversify. Um Look, you got to keep in mind when you are selling somebody is buying And obviously you want to make sure you have a good advisor. They can hold your hand through these uncertain periods. We are. Unfortunately we overreact. Sometimes we hear the news and we immediately overreact and prevalent back and we should not Clearly you're going to have markets go up in markets go down. You must invest by the way, because if you keep money in the bank earning nothing. CDs are almost pennies on the dollar. By the way, while they're safe, no question CDs and savings accounts are safe. You've considered. Think all inflation you actually are losing the purchasing power. So you quote must invest. By the way I traditionally say. Keep enough men your checking account two equal about three.
Newsradio 600 KOGO
"national association realtors" Discussed on Newsradio 600 KOGO
"I'm a certified financial planner are Bree moral? And by the way, if you are planning to be in or out today, mostly out and about, make sure you have a heavier umbrella handy. Another lousy day in paradise. But sometimes we have a little stuff called wet. Even though we're having a golf tournament this weekend and maybe clear we hope so, folks today I want to really focus again. On our new deputy Democratic control government and a good the good and maybe in a not so good. The good Obviously our economy is recovering. Certainly they're not so good is going to be a wave. Have a lot of regulations, a lot of new tax increases, and it's gonna affect just about all of us in her pocketbook, by the way. Obviously, United States government can print money State of California cannot. Obviously this trillions of dollars and stimulus checks that have been sent to people that really, really need it. On and obviously in the lack of normal revenue coming from people working, it's obviously going to result in higher taxes. It's gonna be a higher taxes sort of across the board. Some we will see some We will not. But mostly we will feel we're ever gonna have tax increases on services. Certainly, in addition to higher taxes, and quite frankly, maybe soon reduced deductions, and we're gonna focus on some of the abductions that may potentially be reduced as we do. Every Saturday, talking about 10 31 exchanges. We'll talk more about that today. Give you a little update on the stock market and certainly the real estate market place and what our crystal ball sees for the rest of this year. I can't believe January is gone. Can you amazing? Unbelievably quick. By the way, the stock market would really unnerved this week out. And if you watching the news or watching the paper, the stock market a nerve by big, big, big, big time speculation. Trading. We call it gambling by the way. Of shares of a company called Game Stock game stocked. It's our private video game company, by the way that's not is listed on any of the major changes by the way. It had some wild trading and big time speculation, resulting in some big big winds and some quite frankly, some larger losses again. You can probably gamble or you can have more fun by going to Vegas and playing the craps table by the way. Again owning a stock in my opinion, or maybe only a few stocks folks is more akin to gambling versus investing. As I mentioned, it's like going to Vegas and have some fun and throw some money on the craps table. You can mitt win big and you obviously lose big And again remember, in my opinion, you should only gamble when you when it's OK to lose, And obviously it's best, quite frankly. To invest, Invest for your clothes and objective. What risk you're willing to take. And when the name money from your portfolio And those investment should be really well diversified again based on your particular financial goals, and you can invest with diversified portfolio stocks and bonds, US international emerging market and real estate Ah, lot of people only invest in the stock market. If you sort of look around today, wherever you at, you're going to see real estate and people owned that property and you said, certainly own real estate is part of your portfolio. In your portfolio Stocks and bonds and really cheat should really be based on your goals. You can have box stocks and bonds and real estate structure to produce your checks are have those kinds of checks be reinvested to make your account grow. So whenever you retire, you have a larger nest egg to tap when that paycheck stops. Again. It's also part bigger picture of focusing on your personal financial planning in by the way, if you haven't ever gotten our booklet Are you financially organized? It's Afridi, you go to our website. By the way that money talk radio dot com Money talk radio dot com. Right on the page, you'll see the booklet. On at the very top of the page. It'll be a little link it says, Find an advisor. You can click that and we'll be happy to respond to you. And send you that book it along with the things will be talking about today, which is going to read focusing on real estate. By the way. Um, obviously we have a new president. We have a new Democratic controlled Congress. House of Representatives and the Senate. By the way, there's going to be a lot of debt. That's gonna be obvious repaid from billions of dollars and some case, trillions of dollars in stimulus checks and these view massive proposals on the Democratic checklist for this new year. We can obviously expect also a lot of changes this year. Good and bad, and you could be affected, most likely by having as I mentioned earlier increases in taxes. And I can. There is a majority of Democrats now and the House and Senate. But quite frankly, if you Google Um stock and bond portfolios and Democrats and Republicans. You'll find that the stock market really doesn't care who's in the White House. The stock market doesn't care The stock market on Lee cares about companies making profit. And I think we'll still have a good rest of this year. We're gonna have some pickups along the way, and we potentially have some major major major tax increases on people that are quote too wealthy. And more specifically, it's going to affect potentially people that own real estate, and they want to sell real estate. Bill Exeter is gonna be joining us at the bottom of the hour bill was on a panel this week and was part of the interviewing process of the director of the federal tax policy. For the National Association Realtors. Bill's going to update us on the real estate market place and pro, primarily 10 31 at the bottom of the hour, along with our lieutenant Black women are host Doug Tabor. So Red X to the bottom of the hour news. I make sure you stay tuned for that. We'll talk with a Duggan bill. We'll.