Feb 25, 2017|
House Plans by Countybank Mortgage
Automatically Generated Transcript (may not be 100% accurate)
Oh welcome the house plans glad you could be Willis today. Does this February. How much march remarkable we are we're plowing 32070. You know it was three days four days and yeah. Today is just business days TPI. Yeah two business days that's exactly right and not only is it the shortest month he got a federal holiday in there. Yeah that takes today out so it's got the shortest number business days no doubt spring is here the Bermuda is turning during can you believe that it easier than Bermuda didn't really start to come out until. You know all it tells late isn't you know me that yeah yeah but he screen and there is illness it's going snow in March action so that's trying to absorb the this. Yeah they cut absolutely so was going on guys I mean JD NA the you sent me an email last week that the contractor porn he has contracts for an people are busy first time homebuyers and it was pretty homebuyers. We may need to revise our predictions in this enemies could be here where we were real we really missed it usually we know where the trains are. What's happening and what to expect them but I think what we're seeing is some unintended consequences. Of them a lot of things that the government did during the downturn. That's my opinion and such yes. Well. The objective was to. Dispose of a lot of foreclosure imagery and they do a lot of things to put those properties in the hands of investors so sure we get them off the market. In their early investors at home so much property. There as the demand it comes back to. Not normal levels but above normal level right they ended the Damon Torre they should have come on the market is not the because that capital. In the investors aliens continues to outperform. Many other areas of capital investment and in I think it's created a a a real shortage in the and the second thing is artificially low interest rates right. Everybody has a great mortgage he does not have a great morning trying. But only because as you can only have a great mortgage there is value in a three and a half percent mortgage here in I'm just knuckles salad mail yeah that interest rates having grown up enough yet really for that the. Amendola knows you bring that we actually Brandon told somebody this week somebody that we know very well. And they said to hate the hot five and half should do something. Scenario area about a year yes yeah Maine play it it was either this there are coming well. You know and I was also let him at meeting the other day and I heard I heard the old. Hey you know you only wanna do something if if the if the rate drop since a week or is I don't fly male role not true not true it depends on the size of the long. You know if you got a few thousand are alone in my to drop to point to make it worthwhile and how long you're there right and and yet exactly and once you go above about a hundred hang half. Half important matter right city. It Whalen didn't was it what do you guess in the day down its. A letter of Gorham an article this week talking about. You know we're trauma the affordability in Canada oh yeah ability and doubts about the race yet in the race should not I will not go high and asked affect the millions of phone now yes yes. The I solve that and I was I found it very interesting that they were saying and that. Based on bear rate prediction. Right that it will be next year before we get into the it's real and it can really get an XI Annan and Iraq before the court existence here because this is the affordability because in people's. You know with the media who are like the last. Cheer you send us an article Crist did it that I thought was ago with a mortar Mortgage Bankers Association. They said they expected history trapped by the end of this year was that not right yes and and now they're thinking maybe 2000. Eighteen rather than yet everything that they were talking about the mortgage rates and and they're saying maybe it's going to be eighteen not and then of course the prediction. And all these are prediction. Is that it wouldn't start like JD said to have a negative impact on demand until it got to be five and half for higher yen and says. Not sure I believe Indiana you know you cannot all the opinions own way here. The the growth is coming from you know week I don't see. Much speculation in the market at all. We see this here locally yes we do know that'll change that is only she got retirees move in here. And as long as you get jobs being created those people have to live somewhere. And they stone owned the latest round numbers I've seen. You know renters not cheap here and says you might be better off buying yeah I have yet. It depends aware that we've never done an analysis to see you know where is that you know if you got 800 square feet for 15100 mine where does it make sense. Steve I said that's not far off to you know they announce now I'm not talking about down Tim radical right this week tell me that they lived. On. Closed overnight today at the the our car project unit yeah going towards marlin or against him he seeks to right they were paying 14100 for a one bedroom delegates perks they get some perks and that which worked. It was turn key clearly going to be outside as every day the iron and I just. I was shocked shocked but that's our right we're gonna head into the first break of our day we do invite you give mr. shall on the text line 71307. Or give us a colleague 664427. If I beat there to be right back. That's right Elisa in the house plans JD Chris from county main mortgage keys card here with the buyer's broker we are taking your. Texts and phone calls today if you get a act question or comment and I'll want to get into the show give us a ring in a 66. For four to 7553. That's 86644. To 7553. In the tech's final reopen as well as seven went three or seven. You popular feature here on the show 71307. Texas your question or comment. About buying selling anything to do it real estate and Iraqis that you've been pretty busy. Knocking it out of park here lately fed. Several buyers and end you kind of experience. Uptick that we. Had to hear it being the year seems like it starts earlier and earlier every year in regards to. The purchase market especially journey of state and and it's kind of exciting. Doesn't he know most of the people that I talk to in the industry are are very busy yeah I mean all across salt segments of the market. So whenever bump into people we had him a broker update this week this past weekend. And you can you can you see us. Up big show in the rim injured and and I had several people. May come in pain it grain and if you will for lack of better term right so they it is busy there's a lot of activity in in Greenville there's. There is a does angering the lead is. If it continues to pick up momentum you know I'm AM ES and excitement about the city that. That. Is pretty nice unprecedented for around here mission is amazing now sleepy little town forty years ago has turned into what he is hit it. Indeed it is him when Arabs and discussing it with a car and if you go to the city's web site the city records each media mansion so. In if you go to their if you just do go. City of grain a web site has city of Pringles health care our web site. Media mentions it'll take you that paid so little in it records you can see all the videos and any ideas is pretty remarkable the amount of attention and a that the city's deity. Well listen we are here to take your calls comments questions if you've got one give us issue out 866. For 4075. PT terrier hit us on the text on 71. In 307 we do have our first caller of the day we're going over to Mike. And Spartanburg morning Mike. At the border are you good what do we do we are here on something that Donald the other channels. We're just finishing up filling out refurbishing the patio home for your older adult content their own. Patio own community their point. Elementary school yes as such about thirteen hundred square feet two bedrooms a group. And two and they break. Were up it could. All that stuff. If he had deal or something like that what we're all. You know you have to be happy meal then at these blue moon that work. You said three bedroom two bath. Two guarantees that sugar creek zealous you know that's when things aren't good yeah yeah I. I don't know the rental market Metafile if I had one there's an only raining and I'm thinking in getting into it. Thirteen then 15102000. And maybe just ten on the fifth thing sad but it probably and a thirteen under and yes yeah. Yes I am or early. June 13 hundred square feet there way you've got a multitude of different. Types of raiders that would be interested in that. Particular armed neighborhood. On any great schools. I know I know two or three. Com recent divorcee east single moms and things like death and have moved into. Clash that particular neighborhood simply because of the schools yet. And they may have live on what is surrounding neighborhoods or whatever in the and that leaning in they're for the for the sole reason for the schools. Historically it's been the parents of the people literally in the neck in that Ted geographical area yeah what we call the east that. So that that demand on the east side you have any challenges draining it. I've got to climb it ball a bunch of houses on the east saddened. And nights he's been very successful with products yeah. You know just like you do an appraisal and our appraisals based on comparisons when your when we're doing alone on investment process we have to get in a renal. Schedule that shows comparisons of other renal properties. You know and if you like for us to look at that for you are you get a decent JD and he now you ask JD kept saying mortgage dot com and we kid which he gets a statistical data for you on that if if you are interest it's a well I'll tell you I had a I had a property that. JD and I were raining it was over in the powers for your area and in not closed the interstate good schools the great schools. And I was shocked at what it recital I was expecting I was expecting the comparable data to be a thousand to 12100. And when I got the comparable data. It was sixteen to 18100. How how was I was blown away hand and this is a four bedroom three bath. And about 2200. Square feet today and I was shocked at the and I was too that we looked at and which Nasr tell yeah that we look at that it was. Surprising there's been a lot of that portrait. That pressure price pressure rentals yet I got a question for you and Andy said he does renovating in that sort of thing. What's your motivation for reining in us selling on display in devil's advocate. Well we're we thought you know the road we might without her son worked out there and walk. The other caucus. Yeah I had. Good idea yeah okay as curious he had today you know one of the things we have talked about on the show guys in the key and you did this strike is. If you if you can have some foresight as to where you wanna be. You know it's not a bad idea to go ahead and buy that house as a second home or buy that house as an investment. And then tell Dravid a little bit to see if it really where you want to land and if you do land there and there are some tax benefits that you calories it's also. To trade I think we're not candidates good you can bet they appreciate that property in the game when you put it in service as your principal residence. You do not have to recaptured the depreciation. And your principal Reza. Yeah they try it and I think that's right yeah. Quite right now we're 3000 square foot also. Worry cool and a golf course. And hope. Buddy gritty update what would say crap. Stuff you do it's obvious that ain't pretty hard. Yeah yeah. Yeah yeah has just has got some 400 dollars into the Gaza 400 dollars square for konduz it's a downtown L. If you have media that if you have a urine on our way to grassy anywhere. This might we really appreciate Stuart Garrett Carl thank you so. Hi thanks a lot. Yes it's a very. Interesting way to go about it and I highly recommended that you have some idea. Where you might like to settle. You know with rates where they are today why would you not go out and buy an investment property or a second home. And against JD some blisters might be wonder what how would you figure out which way to buy it in and out of Putin's own with the old remembered. Yes that's right you know and that's kind of one of the one of the most popular questions we talk about on here is. Yeah they are you buying renovating and selling wary of buying in and renovating and raining or he just buying and raining you know and and and as if there were times I don't and are your goals and. That's right west sort told him as really defining your objectives early picture in often know what what's your long term goals are. In if you can put that motion method out including process sooner rather than later you're probably going to be better off if there's a little there's some risk in there right. Things often change yet think's changed it you don't expect chairing chair. She. Yeah I mean in but you know if you buy it early. Then you're in a situation Kana. Team you can still keep it as a renal you can go to either way but it gives you an option to try it out. And in you know when he comes to reading it we do get this question to hail wanna buy this conduit to beach. And it's going to be a second home. And then of course our next question is are you ever gonna win and if the answer is yes. Gearing you know then then it's really an investment property I have to give by the investment property rules and the number wind tide of mortgage fraud when when the when the FBI's first a look and it's always occupancy for all of it's always people December you've been to the is and not. And it's people who say I'm gonna buy this is the second home and then it turns out to be a rental property now that's not to say that has to stay that way. Your entire life but that both the mortgage and the note on a standard Fannie or Freddie loan will say that for the next twelve months this property will be. Yes my primary residents are here and so for twelve months that's what it's supposed to be. Deadening heat converted later there's nothing wrong with that but for that twelve month period you're basically saying I'm not in Iran when you buy a second home you know and and it's important that you followed those rules because. Over the that is the type of for all that we've seen is people saying. Hey I'm gonna move up here and live minute here and indeed this and then you found out they really about it their trend it to their cousin and an end to listen if you think there are reasons to do that it is defined major reasons are. Our armed significant and and for their listeners think and how will they ever no limit to what they gave Italian paycheck and say who's named the powers and and I. They lit teacher homeowner's policy see do you have a homeowner's policy. Or do you just have a farm policy. I mean there's a multitude of ways what address does the field attacks before that taxes go to and says. You know there are multitudes away these. For the into quality control that product and I promise you if you commit occupants aero they were okay achieved whatever your turn to do they've already single parent aged yes. That's a yes right. Well you know you. As we're talking about the market Meehan hot. A study be pretty good idea for us to talk about you know I saw another survey this year with you guys about items that agents were concerned about. And and and now. Trials and tribulations that they had the number one and in this was a Freddie Mac survey that was done was trying to find a house. In the customer price ranging Kiki and we talked a lot about him and towards him but the next five or six things on the list were all in JD well house which was. Do they have enough money do they have enough education do they understand what's out there and I found this an interest in fear. Of even applying. Yeah JD you're you've been to these that he. Very mean I think when nobody likes to discuss their financed through canal area. Yes it's not fun well and let's say is it's there's always that fine line you want to you. You there are those that don't take the pre qualification process serious and there are others in a talk about. My peers mortgage originators. On in there those that take it seriously ticked because he reputation is everything in you wanna make sure that. Ian. When you put your name on that letter that you don't bail perform you know. And united there's a lot of different things that go into human I think a lot of times when people originally. I found that the owner again. The than the younger the buyers are I hit it back Estonia or any way as any employees are the same way here is that this is funny but they like to do things to the Internet obviously knowledge we've talked about all that. I'll see you got to adjust your game to be able to do that while still getting any answers that you need on the there's nothing better than a face to face I mean it is just so much better. And I think when people do coming into face to face. Pre qualifications are you doing it very beginning of the process or as you say the preliminary consultation or forgot the exact words cross and yet we know it's funny our our. Our businesses the end. Shown on TV commercials and things like that is pages with the push of the button. Do this week your telephone traffic to do this and and listen there are many meaning the conveniences. And and efficiencies that can be gained through all that but here's what that won't do. It won't tell you what to do is the neighbor stances in the wrong place it won't tell you what should be. If you need to get a gift. It won't tell you how to mean needs through that it won't tell you. About all the options are available I've sat and listened to meaning meaty customized mortgage solutions and had one senate's. Change. The best product recommendations in the best mortgage insurers recommendation. Because it's not about today it's about you know is the long term. And I mean there's been many times that you start a conversation with somebody Santa I want the best rate it that's out there you know absolutely no doubt about it. And then you find out on selling my house in California among pay this house often the next twelve months. And so wait a minute now what changes would you hey do you wanna give me 6000 dollars in closing costs to get three and a half. Our do you wanna get for you give me no closing cost write a promise she will turn out better serve. That face to face it. I think I think the face to face and you've probably echo this Keith. The face to face starts to eliminate an ease of spears as they get into that home buying process because they're getting answers to the beat it to the questions and fears that the handler. On and they can see the road it unit and say reforms or listen to order are heading to our bottom of the hour break would get more real estate talk about. You've got a question or comment. Please give us a ring at 86644. Twos 7553. It is a toll free number 866. For four to seventy about 53 the Textron is open as well as 71307. You're listening to house plans we're going to be back right after this. What we're. When welcome back your lesson in the house plans JD Christian county may mortgage Keith Clark here with the buyer's broker we are taking your. Take some phone calls today 866442. Sony about 53 call now you be on the top of the list or she just text question is 713 or seven we'd love to hear from you. And talk about what is on your mind today in the real estate arena. And Dahlia a lot of lot of activity we've talked about that race is still Gideon a bit of decrease in race here in the last weaker team. Yeah I read something this week is to they've been pretty. Flat to slightly down over the last four week yes ASA you know what is that thing and made again I don't think we. I don't mean and what you think lyrics we're doing any yes bad rating could yes yes. Remember over day that is on the short end of the Carter. Not on the long end of anger. And says along the mortgage market is priced on the long end of the curve and so that that the ball is that it as you move the short end of the curve. The the loan and will move up as Wales but if that debt and guess what happens you get a flat corner and that not game. Yeah a flat curve is generally an indication of recession. And that is not a good sign in the course if it ever inverse the nets are really not did. If long term rates become list Georgetown I I must take pay him. That is were really nice gated. Well you know they do your rates to remain attractive and and you know we were talking earlier about win with a rates you know have an impact. You know going to five and a half. We know we don't pin displayed on the market but the question is. You know if if your market is driven by reload caters to retire and reload caters for jobs then yeah those people still gonna have some orderly. Yeah that's exactly right so you know to be very interesting to see out of the year shakes out start nothing more and more key thing. You're right we may have underestimated us. The market a little bit the other girls who the real estate market has returned to historic levels of activity. These are every every month is is a new record January it was a new record for January. Yes yes and it was up I think five and a half percent in terms of the number of transactions well a year over year and last year was a record it is just amazing part of me knows we've been on the strand here for what's 67 years about six or 8% up 5% up 15% up 10%. You every year year over year it's his son you know listening was we came out of the downturn. We had some really big leaps in 2013. And fourteen ranked at twelve not 2012 decision to leave you talking about. He talked about number of. Turns out number of transactions yeah that's that's where we really you wanna start the conversation. But at the height of the market in not 2000 in six it was 101366. In it the bottom of the market in 2000 in the TN there. It was down to in that 6000 range 6200. So went from 10366. To ten 6200. Then he jumped to 7433. That was up 23%. In June to 9160. That was a tight net percent. It jumped to 111312. That was a thirteen point 8%. I last year he jumped seven point 8% to 12100198. Both of those 2015. And sixteen were record years and it's more the sign that here's what it looks like so farce so far yet nobody knows of course but we you know I think you know one on line users know that's the other. You know that we we should address and we've we've hit it a little bit here in the air over the last year year and a half is is that first time home buyer and I think. You know I think it's important that they understand. You know what we see. When they do get over that fearing come the end is. We often find that they qualify a lot easier than what they felt and and a lot of times we're talking to people when they say they can't qualify our. I don't think I key end. We often find out that they can't. Well obviously one of the things SE a lot more these days Tom. You know when I do a pre qualification letter I typically leave it there region near going to disclose that the top dollar that they qualify for. And let's just say that they're looking for that two to 250 now CF. You know and most of those people typically when I tell what they will qualify for you know upwards of 40450. Either they're taken aback a little grass you know in nest that's a dead Blu-ray driver that function of Rebecca current interest rates right you know and even if rates do go up a point. They may not qualify for four feet Timor might be 350 yep but they still qualify for more than they want Abbas yes you know and of course have at that. Near brings the next question is yachts or revise its its lifestyle. I don't know what your lifestyle as you may not be comfortable with 350 but the to safety might be the perfect low number for his first payment. Well I think it was a payment standpoint because rates are as low as they are I don't think that a lot of folks realize. What that would compare to real wise right you know when you start talking about making a 15100 dollar rent payment and we should. You know I give Yeltsin that they won't be here next week so don't tell that sales. I don't think it's good lesson let's just you know when you start peel an offer that OK you got the 15100 start we have. What's your what's your taxes which are interest was peeled that off now let's put some mortgage insurance until that often can we get this this principle number what can you buy after that. And I think a lot of people would be surprised. Even their rates of ticked up a little bit how much house they can back right. And then of course keep this PG known none of lesbian accounts that they're going to be some tax advantages to being able. Right to an interest off as whale which makes it even cheaper but then there's also going to be some maintenance and some ongoing things that you have to be prepared for home ownership. Is not for everybody but I think it's less expensive today than a lot of people think the thing is. If you don't qualify we don't put your room and laughing at you what we do as we say hey. Here's the two things that are obstacles and here's how you can overcome those and here's the time line. That you can overcome that is it could be a date in the future you could have an event in your past where you had a bankruptcy or where you had a short sale or something like that went in there is a date in the future where that won't matter right and we can tell you what that day the on you may have a challenge with collections or charge offs or credit. And you know we key in every town we look at a credit found. He gives us recommendations only each independent bureau appears something you can dean. To improve your score and an even shares DJD how much it could improve it right to it'll say hey if you do this this and this you can get another 25 point she can get another fifty points. And then we can put you on that path so that you can go work own own those individual things in and then of course. You know keep an a anytime you're Dylan would that first time home buyer they have to be pre qualified. So that you know where they can go on what they can. Do you want to many in the briefcase in the truck of the card the day after day I I mean this things I think is unique in there when I'm working with. The listing agent it's important for the listing agent and that if they do business with me mark Klein is gonna perform that have already done all the necessary work. And that my client will perform them in that have. Each prepared him for that. In I think that that wind when sellers are evaluating offers. It makes a difference in how they present it to their clients were listing agents yeah source we simply is is it you need to have a good. You need to know what your goals and objectives are you need to have the money and briefcase in the trump trunk of the car be able to perform. And have confidence in in the property when you see it as the biggest challenge for the for the client well of course when you're doing a first come home buyers is there it even if you are pre qualified it's a lot of money is there. Do you senior reluctant sometimes to pull the trigger oh yeah via a lot of that what we're doing now in preparation for making the offer. So. That denied the offer oftentimes the first time home arm may get physically Il had a cannot so not only do today. Second guess themselves right after they make the offer share. In the industry it would be referred to as buyers remorse come from that. Kermit but they may go home in overnight get physically ill some people do because of that anxiety associated with making that kind of commitment from him so you need to prepare the client for all of Latin of course. Surprises. Are what creates turbulence right. There is no surprise it doesn't help with Morgan against Uga thirty years Imus asks. There are ways to overcome all yeah. Property into taxes and insurers will never leave it up. Anyway we'll listen you know you don't only you just ran as yeah yeah yeah really not gonna do anything and I'm not pay really taxes and see if you only half that don't listen to our final regular show realists in the house plans JD Chris Kelly may mortgage Keith Clark. With the buyer's broker will be dire right after this. Or he you know. Welcome back you listen in the house plans dating Kristen Kelly may mortgage Keith Kerr with the buyer's broker. We appreciate our textures and phone calls today and we're back here talking little real estate if you got a question or coming to restoring an 866. Fourth or twos seventy bat 53. Text line is a bit as well as seven point three or seven. She does a text or give us a call and will do it now hey Keith isn't flat curve and oxy moron and kicked. They. And this is nothing your correct it would host a moron I'm glad I was cholesterol and I thought I do it I don't even understand and I don't really understand. What increases talking America. That's from here he got that from banking skull am I don't know now yet I thought I'd listen I don't know Ian Allen there's nothing Julie bear around a dozen of another. Yeah. Ali that is Smart people. Well it's. He's going to be very interesting to see how. All these. The new politics play and how all of this worked because you know if John hadn't noticed is complete change of mind says yes I can think about. Has spoke it's going to be very interesting to see how all that impacts. The housing market in the course we know that the housing market is huge. Driver for jobs. I'm part of the economy big big part of the economy. And then of course you know right now everybody in in in almost every market that I know this chase and inventory. We're cannot finds I mean I was driving up Pelham road yesterday. I'm sure your he needs his keys that they were clear and they're clear entries in and it's going to be a bit it's going to be a little infield deal we're right there's ten or twelve somethings that are gonna go right there's not a big piece of property. But you know you see those things pop and you drive overthrew powers to deal Piedmont which I think he one of the best kept secrets in the upstate about. Places to Leo and they're they're. Projects Avery we're big small and in between. Old Spartanburg rather bowl which one is a thing is old Spartanburg out past her son high school. I just have to be headed that way and then I mean they they'd hit somebody's cleared eight hood only fourteen all lists can be developed here Alice like holy cow on the use of church and national builder tool of course as woodland woodland elementary you know Riverside middle the end you know trying to do on that project I don't attempt I'm not sure which when you're talking about but there their two or three. He had a car here over to fourteen between fourteen and in woodland elementary. Dishing to see Al deer near the airport you know there's a lot of lonely and out past the airport and fourteen. You know as you sir and George Greer and the southwest of the year every inch thing yhency here Nigeria. Who weren't things unique about they Isa we call it the but it's never affected property values he's always been one of the more desirable areas in the city. Well you know we were talking earlier about home prices in and you know if you look at the the median home price hearing green gold and say green or come out agreement MLS which leads ever summoned to Spartanburg summoned to some of the county said. Just not green video is is a 173000. Dollars. And you know when you start talking about trying to buy a house qualify for house at that price point. I mean you're who you you're around a thousand dollars about variety in and that's Ali and that's taxes insurance and mortgage insurance even if he handed pitcher going to be between that you know that 800 drained all the way up to 12100 depending on what product. What mortgage insurance and things like that and that's a heck of a lot cheaper. Them pay and 15100 dollars for for rain days. 200 dollars rant sounds like a lot of money they end I mean I haven't rented and in some time. That understands big city that's how I thought I think the first place I ran an out of college. Meehan when my friend we split Dorian it was just live for 95 a month I mean pretty pretty nice place in at the idea until they serve five separate apartment projects criminal mind you there's always been a real shortage of apartments in downtown Greenville in these are these are not small project a couple of her big so I think Bob he's got his hands on two or three others. In but but that's gonna create some parts supplier to be interesting to see. How much pent up demand there is four apartment stamped him and whether or not. Prices come down a little bit nothing antenna congestion and gentlemen in the next thing we talk and everybody's while and no cars while I just threw it down yes exactly right when I'm self driving cars wanted to Wear about it as she knows that stake there's they've got there's milk. Yeah out there absolutely I'd be hard to trust. Well Keith what are some other things when you're when you're counseling and working with a with a first come home Breyer what are some of the things that you deed can help them get over that fear. You know you know and you have you have opened a lot of education you do a lot of conversation about goals and objectives. But when it comes time to pull the trigger there's obviously some things you've done up to that point to help them win their confidence that look we're really ready to move forward. Yeah I and there are a couple of things I do in sad that the in during the interview consultation with the beginning of the process. We talk about that fear itself that this is what you're getting experience and of course that's part of that conversation of eliminating the surprises. So loud I Dresser right up front at the very if this is big decision here is going to be is a lot of anxiety I even talk about what I just said on. In the earlier segment that you may become physically ill the night she make the offer but our objective is to to. Have clear. Goals and objectives in hand in the conversation begins with what this in my life look like teen years from now believe it or not you're right behind the house for today I. Particularly first time homebuyers to conversation about. What's gonna happen in the future with my fame lazy immigrant work he laughed and obviously key Kentucky at a by analysis probably there I asked us that's a tough as well as they get them out and out but I'll take you. That the key to our levity is making sure when we after about the third outing. I'll let the client evaluate the house and then not tell them whether their writer and sure. So when we go in the house and they look at for a functioning condition in pricing and valued. And location. Then ask them the question instead of him asking me you evaluate the property and then I'll tell you where the Iraq or not yeah they're not then I'll tell them what they. It broke well at a certain point. They become AG is educated about their geographical market is dying and more educated and become a more comfortable confident and they aren't conversation as well. And JD when that when you're sitting there talking to a first come home markets often times. You maybe talk until before they ever talk to an agent. Rights and had even started that they've done some score line around Milan I'm sure yeah but what kind of things do you hear on talk about what kind of fears do you find that they have wondered what are their main concern. When you're going through that customize mortgage solution. You know it is on this issue for two if you talk and first time homebuyers yen in her element payment you know offend everybody wants to know about payment in and then down payment yet those are the two things that that I hear mostly is. You know hey we've got 5000 dollar saved what kind of mortgage is that going to be able to give me yep was not payment going to be on that we have Tom Barr and a 140000. When sixty. You. Do you tend to find that they factored AM all the things for the kinds of includes an MI. Are they really only when they're thinking about it they think about it in the perspective of PI TI which is principal and interest. Art that you do FC mostly Pia and had they think about principal and interest. Not forget about taxes so doesn't start talking about on the census out of thing is stressing on the four and 6%. You know and exaggerating them yeah I had pain how much is that going to be in. How much is negative and what's gonna happen homeowner's insurance you know I think a lot of people were surprised. It's amazing to me Howell little insurance premiums are. On brand new houses yet as opposed to a twenty year old house sure is one thing I really see announced new houses you can you can get a really glue. Eight annual premium on do you have houses especially if you're in and you know pretty close to fire department. Whereas at an older house you're gonna get it you know is going to be a higher rate and and yeah I mean I can make a difference on the twenty or thirty dollars a months of your own your payment. And so yeah sometimes you beat they they don't think about those kind of things. And it would be PMI. Yeah I was gonna say when you get into the mortgage insurance. Do you generally find it there's little to know who education that they've been exposed to about the types available NASA and the prices they know about PM they know that there's a monthly PM right they know they don't want it to product I definitely they have to. Like a flu I know it's out here I don't know and up. That's exactly what a slight but then when he got to show hey we can do under paid allowing due out front this is in this to be a lot smarter way for you get a yeah they start here about those things and you can EC in in their their eyebrows kind of you know as far. It's interesting that things it can no ma'am ma'am are you were talking are they in my counseling in terms of first time homebuyers. Is they're focused on payment and I got to tell you right now if you may need to be focused on borrowing all the money you can borrow OK and his current interest rates. No that's a conversation did a lot of people wonder half yes that's right but we needed to address that right up front let me tell you why this is black. You may need them eat you gotta do what your comfortable with I tried out where and rising interest rate environment. A rising. Price environment. Instead you may wanna think about. Buying all the house that you can buy are right there and then secondly. The worst thing that that the first time home buyers often don't consider. Is the disposable income after schedule. So when you move from an apartment in your pain of lessen your pain and a thousand. In your payment is roughly on the mortgage is thirteen or 14100. After you fill out schedule way how would you lackeys is it wit which which allows you did a non interest. Charitable contributions actually real estate property taxes. Those are the three main deductions. Then your disposable income is probably the same. Here is it would be at a thousand dollars. A months. Issues about 40% is generally perceive as I know lesson number that I easily username well and dagger and you know one of the other things to you that I don't think a lot of first come home bars or borrowers realize too is. Based on the company's performance that the lender that you achieves. Has an impact home what types of mortgage insurance is about our are available. And at what price for instance we you know we get a community. Banking. Price. For our mortgage insurance because generally community banks. Small banks have better loan performance and big. Banks and so are mortgage insurance is cheaper. And then not only that they go back and look at the real performance they're not saying you know I mean are are beginning price that we get to offer is cheaper than than. Big box bank because of the size that we are but then they go back and they look at the performance of the customers that we have. And that can even lower the price more and often times. PMI has put out into the market is as one size fits all and what you'll find is if you shop it. I mean you can save you might be able to say fifty or hundred dollars a month just back and with a community bank and I and that's and that's not very well known. Now let's do big banks never put them to know I don't play on an hour they in the weeds discussion when if I invented. Well listen we appreciate our listeners textures and colors today we value to lessen the house plans. A look that well again though the real term that we have a lot of real estate agents or listen to the show we got to yet another realtor roundtable coming up on March 9. Feel free to email I ask JD accounting may mortgage dot com to reserve your spot. We look forward to having their gas have a good week. Even lessen the house plans will be back next week talking real estate.