Austin Mortgage Report, 9/23

Austin Mortgage Report
Saturday, September 23rd

Austin Mortgage Report, for September 23.


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

And and. Welcome to the Austin mortgage report we Jun six C on top thirteen seventy. Have a question for John you can reach him by calling 51 CU in 1902891. And now here's John. Hey welcome to The Today Show this week it's just using your gut John Rosemary Thorne. Are mourning the announcement itself. We're. You are bachelor week of the cost more to report a number if you had a mortgage or rules to question is 512. 9202891. Those lunches or twenty anyone yours go to Austin mortgage report dot com. And lots of great information there about mortgages. And also are you sort of passion shows that he can searchers from passions into the topic. You know our peer Meyer first from home our programs are. Yeah zero down programs are Jumbo loans are. Second Marines are a beauty gumbo I we allowed to go to permission minnesotans could cost a mortar purport dot com for the latest. I'm greatest today's show of error is going to be awesome regards Christian Lum bar with Keller Williams joining us here shortly. A similar kind of trust your streak. Well sort of Christie yes your city. She's awesome and underground unit gypsum religion inside our. And on what it looks like to be a really great agents are we should terms and and we've got to put into a big Corning. So yeah the first home. I think in the country. That's sold. Sold in Austin, Texas are using the corn so the first from the sold using the core 100% to corn. Happened journals and Texas are restoring sort of talk about that and how it affects the mourners are on the mortgage sort of thing if you're not been there once wanting to pay cash for home. Using BitTorrent but can get a mortgage and use the corn for the down payment. Johnson's condition. Thing were from TARP through Obama. Our jewel Hampton and the bullpen as you can't. The some rules around that that we're in Toronto. Employment contracts are pretty common I think rumor talk about. I'm buyers. And your folks moving in the town. Or maybe Bruce for a change jobs but you're trying to close and humble for the jobless she started and dark so we call those you know. Employment contract type situations where. Are you can do they'll be generally are gonna need an employment contract. And continued to you know be starting a jump fairly soon after closeness rules Roman restaurant order a that. You know people want to move in and tossed aren't social taxes and yes and was a dream when he moved. You know a lot of family and you don't wanna. Implement our clothes and home before the job starts and are not new or move here and then ran into something she would run by. And other ways to do that surround Arafat. And yeah its kickoff for an hour turn out rates so rates are still solidly in the authorities. I'm thirty year fixed farms are starting insured for about. But if you look at the last week expects average worries foreigner to for America. I'm three point 83. Or we commerce or three in seven minutes is special derivatives which found him but I have porn she served. If you look at though alone Arthur thirty or fix repair parts zero point two approach in March 4. Bush repair a few points a little bit you know some discount points. And you're going to be he should be in the threes with good credit and you know. Good credit score is mature from. Here's a question where why do it what is it when Freddie Mac and and they may put the rates out. Always Shillue with a discount one instead just a flat zero. Well what did you as they try to look at work. Most folks are paying so. You know guzzle a lot of folks will ask you working interest rate as those are points or are Clark we've become used as a starting point I was Clinton years to resume points. And here's where it would be if you pay after corner one point so one point one discount point 1% of the loan down. And so what you can do is you can pay when we call points under the Lauren aren't so a lot of folks will pay a little little point and so like right now. Our current Freddie Mac news service Nolan was across the country. You know they're saying briskly on average social paying around half a point and Richard giving us reporting some far. Republicans knows what they're seeing in in the market saying that the average person who's paying half discount point more than. What the current interest rates. You know by the rate down and and they and we run a calculations from a breach even researcher does that make sense to do that should you do a 4% no points. As an example or should you pay your reported some 5% contained processor half point. And so with the or such as you know altercation pear half point what are the dollar dominos will divide that by the payment savings that more rate more calmer for the moment. It's usually around five or six years. And so that's the kind of matches up with one you know what most people telling most are occupied homes fat and so usually. Folks think chairman departure that we as far as the tears salute in my missions to pinpoint it was funny where people zeroed in. I think it just sounds better to be in the threes you know and so it if it was that there are some foreign four point 25 months down to four point your far Nintendo points but when they can do it. Our rate that starts with a three imperial but it points. Don't do that it's it's like a human nature it's just psychological psychological thing you know. And a and we see that a lot of its that as target about it says that's a sort. Hey you know what I wanna give it some are bodies of their water cooler in the office that I got three something that a for a right to your boss Radovan house and our region that are. There are sometimes some. That's probably what's going on in to answer question was popularized. Lot of people probably afforded in today's market and educate a little religion of threes are probably just choose an apparent facts on the fifteen years though that's is another. Somebody who knows where mr. fifteen years I was marshals we should. But our averages from those around three point tear him. And so that's a very common portion a lot of folks are going refinanced or fifteen Europe now. Because there's still low and very well and instead of you know some folks who started moving our refinancing keeping their home owner fifteen year. The savings can be tremendously and we. We retire twenty savings cost of our forums what. It's not uncommon to see you know 9000000. Dollars in savings. Over the last four or only when you do you have an interest are. We'd love to run those numbers for your nephew our culture well it looks like to refinance two or thirty year or fifteen year. It was a call our farm 12920. Atx Warren. You always gonna cost more to report dot com and dark and shoes and a third contact me on a direct bacterium and you know sometime to kind of run to those numbers. It's or seeing a lot of clients that are sort of refinance right now rushing. Another kind of thing that's happening is it's getting towards it into the year. And you know Bob Dole's short term so we are to holidays turnout. He jogged. Taxes are due. If you extend your taxes this year. You know the filing deadline this bizarre was runner amounts are in you go and pay those taxes. I want you are seeing are personal taxes for businesses to dorktones extend the government have to file and pay by October 15 Oberstar. You know were. You mean she Mangini money and so some folks from their internal home equity loans to pull all pulling a little money out of the home. And to refinance. And Internet cash and Europeans aren't paying taxes. We're also seeing folks there are you paying off. You know that the nice thing about the equity appreciation in the Serwer home brazen art so much over the years. And folks or aquarium. And I you don't wanna talk them about. Condemned its emergence from you sort of socially question about that just a from a website off towards report on comp since an orange numbers were. I actually gone out there were armed. Harvey has been interest in us and potentially impact. On the market and this is this who went on well I think I'm seeing. As we talked wrote this last couple weeks as. We've been in the war there was a lol in the market you're from what it was start school started them Harvey happened and as until lot of attention was on the up and arm but there was. You know same rumors down their what are images are distracted everybody from everything including prosper barn home right. The results are always going to be you what's gonna happen now I mean if there are some of those folks gonna lose here then moved to Austin. And insurance in that happened we saw with Katrina I mean a huge camera people just left in new go back you know when their homes flooded. And so couple things one is. There is a loan program Arthur called an FHA to a three H. In that program I will help folks my new home with 1% financing. If you can prove you came from a disaster. Presidential disaster in the corner. So we Arafat we have got alone and candor if we are. And you can marvels the rules are down you can be printing. If you renting in Houston mature. The home of their apartment Europe was damaged and you were had to vacate when he can go back to fiction or whatever then you can buy home. In central Texas were lost or 40 down if you own a home down there. And you're just not complaining about sort got damaged in your filing our claim. That's getting processed. But you were really did not attend the dark there's awakens you can actually call followed our turn them payment. Our environment here. So. You know that got some neat option new thing that I'm seeing as far as market trends are and we'll talk with a slower more when cure she joins us or shortly as. I think we're beginning to see. Some of those folks look at houses around her arm. Track from the Mark Russell a lot of opinions. Hit this lasts the last few days actually are my theory is it should be one folks are just come back. You know look at houses schools document but it can also be that some of those folks from and after some Syracuse just erupt up. And much for the regret your shoe lumber are about to join us are here with Callaway irons well or talk about. Employment contracts are starting. A shark clothes and home before you start a new job tremendous tournament switching jobs or how it's gonna start. You call for an from mortgage soldiers are professor winter break now listen Asomugha is reported to have Charlie Rose very. Armed Jon shoots in. I will be right back with lots more. Top thirteen seven. The right. Back to the Boston markets report which I'm Susie on talk thirteen seventy have a question for John you can reach him by calling 512190289. Line. Once again here's John. Okay what Americans showed John should see your gut genre is very. Good afternoon devils are restaurant. Did you space to play. Ask ourselves so shocked harsher music being so a lot of my years fit and that the there's an instant. The last segment searchers to Lombard told Williams is with us as well. Hey there thank happening absolutely are sure there were so excited than I was told listeners are broke. How were your word there were pumped out yen in the show returns. And your just a really awesome manager and you've got some there's some strategic advantage you have I think. But we're gonna her for her before you do tells about a woman share. Well you know to buyers and sellers. Into Africa Asia. And you one card to your Mormon culture and a half. I think I'm your guy Alitalia and our other Asian stealing our secrets go to Australia and yeah I don't know yet and are there now all Clinton sponsoring companies send strategy and then within reason yes there your perfect perfect. And that's the zucker served our cut our listeners can call you call the show its inter changeable more. But so let's do what's the lol let's just let's give it started. The phone numbers 512920. ATX. One that's 28 many warm. And as always been on our website at Baltimore's report dot com. On FaceBook as well some more report we are record the shows there we're also our pilots are hard iTunes. Hard everything armed mr. Morris are served just like a Boston mold report are remote to Erica perfume. And keeping a bit more scorer on the market. Rhetorical earlier about how rates are still threes that's spender and think they're gonna say there for awhile. What I want are the segment there is employment contracts and and so. You know when you wanna buy homes and you maybe you're changing jobs can you do it Biden are worth your sort of your new job. Oracle or have a lot of times a spokesman for out of town or out of state. And they're they're moving here for a job. But down started out there weren't trying to bide our home before. You know the start to John Sorrell common scenario would be. Emea or famine moving and they start the job on October 1 but the warmer here. If it doesn't score over the summer something and I'll be ready to your arm you know go and by the home maybe in September. But the job of startled to refer swamp. They used to be pretty difficult to do you have the to have been some guidelines have been relaxed. I'm including FHA a pitcher it was one you can do that horrific chain of arson garlands around. I'm delighted a barn home up to sixty days before the start date of the new job that's my health anybody wanted to move even more options there. So listen we are some rules around and so you do have to have an employment contract and suit up or something right in. From the employer. It's not contingent tear can be temporary work or. Parent can be your your birth six day probationary period or he can have this kind of language that scuttle executions coverage for a standard. And we don't see that very often occasionally comes on furthers our. Some sort of a trial period or something and their search covered in non contends employment offer. And you have to close within sixty days about about some of the start date so if you are in today sir what sort of stormed. You know since the since September 15. We'll see today's I was roughly where November 15 which are sir you have to have to be within sixty days I've got started. And we have to verify implements were heavy artillery to comfort him Foreman sure that they. Confirm or you're starting job in the New York total money in the bank to yourself you know if you are if you're gonna close David and I can start the job for a couple months. You know we wanna see dark from march from a mortgage payments and somewhere in savings are. You know tissue underpaid or you mark to market paid for. Well we're also in contact there. Current employer. So make sure that the current employer knows you're looking for a job are headed on our slow down your arms and figure out stuff terror as a matter they're changing. That type of work they're doing that be consistent great question person. It it it does we do look for consistency. Sort report says the job duties are there some more so that's. Does this quite a bit of room for flexibility there but you can't. You may not be a Bjork a teacher and you're there be a manager but that may not but if you're. A principled hero I mean there's it's just have to restore job it is it can be some huge starting a new. Where things are tremendous mother's empty front or the thing about it is needs to be full time work parts salary or hourly. But not commissioner for if and it came to commission but it worked and use that portion so we can always base. So our base your hourly wages it's. So when do we get commissioner about this is the loans or some leeway. For almost thrown us this commission world. He all the realtors the world all the sales to lure pushed only were they you know they. They make good income. But because they don't have a salary. The you know unfortunately our industry just doesn't look at W Karen come as 1099 in the same as 101099 income. Those of us are supporting the pistons are being left out in the cold yes. Well I mean you know it's so that's so that's become quite a bit more flexible to yourself if your self employed. Or in some cases commissioned our curfews have a hefty bonus that that you rely on to Rwanda that might be part of what you need to. We need to document to qualify for mortgage. More and more were able to qualify you using one year of urban come from that's our. Two years is kind of the old standard after average two years the social music a team come your finds its if you start a new job. And or you know your. Here's your income for reasons is there is on the up on the uptrend. And you make a lot of money in short virtually no one in my house based on what are making your wife and confident government going forward. That's when orange and our problems are losing the last two years out you know we use average about income thriller promise usually when young a trend. Or maybe just got into the business or just sort of chart this mystery commission. I'm commission and bonus of students and only. Beat two years maybe a year and a half. Self employment over enough can be holes one calendar year. Took the key we say when your a lot of us started counter service because you can't look at half a year in them. How we need a four annual tax return. To show what you reported to RS. And when you have that arm and in some cases. We should qualify you based on. So I don't engine to have too much and he took his defense alone programming. And there's some arm. But it's constantly until your front cardiac pulmonary and cost her one year it's not on doubt that but oftentimes urgent. Thank you think that's good news because it it was a few years ago this there were any change at all your employment. And you're in big trouble if you wanted to buy a house that's really good news to hear that there is some flexibility for parents or. Even though it's you know not working perfectly for myself. That's a good. A bit but it's great to hear because I know there are a lot of clients that I worked with in the past that they made any change on their employment that are really hard time qualifying. And even if there was an upwards. Chain. Brown well a a lot of Phil status timing right it's very determined sell something and buy something in. Scuttle movers and and so the script there's a lot more fortuitous. You're getting used to be you might have kind of started that show where are we might need to pay extra paycheck current you know before your clothes so far fetched you have to somehow after how to start the job. Before you moved to me it was a real challenge so. You know I had some people that I closed and they were they they were like well I am going to be changing jobs but it's I'm gonna hold off on that for. A few weeks after my loan closed whose whose home just in case this into us. Now it doesn't matter don't Ireland who have I wouldn't. That's a net income and it was it was the same it was the same job it was the same company they just changed definition. Yeah it's a good they were paranoid that vessel in every sense and and not give I would say. Yahoo! you know there are a Connecticut that. Event. But again you I think in China and I really a matter of just zero times or they don't think in what little onto another thing we see is and they didn't tell me until after by the way. I guess by the way if you're out there are nearly questions about a sergeants call 512920. Atx former 92020 and anyone. I assume we have seen and we've seen this for restoring power couple these last few months actually worked. Folks dirty little mortgage they they are their proofs. And and those in. Changed jobs sometime between when their proven closing the general Marty approved under the deal. Or other quit their job. And they think well the new jobs not gonna start for fury expert woman who Rebecca just don't tell us Darren and what the reason that comes out or what happens as. I would girls on the loan program we have to verify employment. Added it's between five and ten days appear on the program. Before closing so we have to call employer Damron for clothes and say. Has this person so worked and it's a real simple phone call and I think but sometimes it's like no. I respect it happened so it kind of falls in line of people would buy cars for their car owner. Your site sometimes old trader car and think we'll payments the same insurmountable underworld. Fortunately we have to just we can't leave anything to chance so. If that happens which the center we have to roll crowd erupted. We coached a long haul emissions limits based on so Brooke regulation have to follow. And it went to a pro for a direct foreclosed in Saudi women in my betrayed the car in the payments the same. We now have your document. The specifics now a new loan. And and to go out of your credit report which can be done is just the might take a few hours or perhaps they have something and if it's the morning a close and we're going to find out some. Oh just to tell you just talk to your lenders remain finishers your frustration about the terms. Did you change your experience he had that happen to you well and again it wasn't anything where I felt like again. The climate anything that they shouldn't have I think people are just very paranoid. About it's what all of this means for them and so. Going matched the recession and how things word and then it was insane and you know I have a pulse and I can qualify for you maybe you know couples need to qualify fastest. Let's learns. I'm an NS one so for the other direction that I think people got very concerned about. What the rules were and how that was going to affect them or not. I'm and so your point is well made that people need to ask the questions. About what may or may not factor into. Whether they qualify or not or if it's going to delay closing or not I think that's something else that's important I think a lot of people want things. Right now because of the state of the technology that we have there and they wanna yesterday and they want everything immediately. And I always say to people you're doing a smarter doing fast on him because those two things really go together. And sometimes things have to be delaying have to wait a second to work through the details and we better to do that. Then to enter into something you shouldn't. Zero that's up that's sort expert embarrassment and a matter I heard it yes well it's been a year at two point she's you know. As part of having an agent like hers that. She's going to negotiate for you she knows the process she knows the timing of the process. And if you've never bought a house especially or if you just bought one or two houses the agent is therefore you just which you're. This within their force to guide you through it negotiate for you. And to get you the best deal but also to make sure things are on the right timeline and to set the right expectation there. I think people are so afraid of who to trust because. You know she sees something online you. Generally will believe the negative stuff I'm not positive step only minor it is I have no idea but people do tend to turn that direction. And unfortunately as a result I think they don't rely on professionals like you guys and myself to ask all of the questions of patient. Mom because we're on their side you know we're not here Ted says. Makes the process more challenging for them know we're here to make it easier for them there and say you need all of the information are sort. Where they fit in these on the Internet may not true and Richard C I am here at educating that's not a very weird and well. Eye opener and I that are shocking well I'm. Go to the break but are we come back and we'll deal more about some her Foster is about magician union. And economies in the process in particular institution and take on the margin maybe how should have some like I've never asked is how long you've been in the business. And this is my fourteenth there has been set up a parent a couple of lawyers sorted then you we silos like before we did and and what it's like I'm Aaron. I almost. Obama should. This book his last couple months feels more like we're used to be art but for the market slow enough for doing more boomer rock and a normal. A process. Mr. deleting the witness I don't know as a centrist. The would have the advantage there remember what used to do art they are helpful hasn't made and so more than Dennis. Tina three or four or five years it's gonna feel like. You know something quite. It's commercial or the big slowdown but they are trying to realistic my fear over death rated so are you listening. To the also Morgan's report John she sees John rose very river special gestures you Lamar historians. With us today few questions about real sitter have a question for Christian just it was a cold but she doesn't touch on the Mexican farm 12920. Atx one. Organ also more report dot com. And and choose some note or FaceBook also worked report we'll be right back. And I'm. Welcome back to the Austin mortgage your port which once you see on talk thirteen seventy. Have a question for John you can reach him by calling 512190289. Line once again here's John. Welcome our TV show Jon should secure film genre is very fullest every Monday here in town. Every culture to embark Keller Williams. I am JW in any KW. You guys are. Our kids abused her so much for me it's him that's encircled the CO ago. All jolts don't think we're in Texas there he throw a party they are pretty amazing I think it's agree it's a very companion. I mean it you know seeing him there isn't a company and arm but he have you had a chance to your down there. I haven't given a downer I've participated and providing and providing. Supplies to our exit gone down there there my thought was I wanna go down merit. A little bit later when people forget about it because I feel like there will be home. A time in which this isn't the top story on the news and people love may be forgotten that there are a lot of people who do you still need help. And so we've provided you know momentarily and certainly provide a lot of supplies diner Keller Williams has raised. Based on the last time is almost thirty million dollars or are which. I think is truly impressive and has a lot about the kind of company and that we are mom would have were willing ten. Get that way. Didn't that so that. Two weeks ago you had your wood Kaydon that would mega agent camp in Asia can't see it ages from all the and 3000 or more ages while the country coming in and the learning process sales rally. And this year because of Harvey you guys it's something different. We did we shifted to make a relief. And instead of having a big convention center for our conference. They gave up their convention center says it's. Companies and spent well charity of charitable organizations were never going to try relief could use the space. And then Keller Williams bust those agents. Into Houston and Houston you know surrounding areas. Instead of taking a profit on on this conference and it was really cool because you know. There agents from across the country come DOS any cheers so that they can get this information you know so they can build their businesses. And musicians were willing to invest instead in relief in a state that isn't. You know even bears. And then I thought it was great that Keller Williams but the coaches on the buses. And they didn't get the coaching and to give some of the information on the way to Colorado. You know is the best of both worlds. Some but I think. You know has as someone you know our our job is to find people's people their homes mom hopefully make some some money in the process it bad I mean it's all about their homes. And I think it's wonderful that we as an organization. We'll put our money where amounts are many people are losing their homes we will come and help. There. Well which is similar to I'd agree riffs as well that we've kind of an office talk with him. How about maybe trying to do something wrong but later once once things cool off. I'll let you know doesn't want to once there. It in this there's a lot of the smaller towns took a whole earth saw an article to shows for about how to control Rockport they're being over here and not. Is that it's hard to rumors going to Houston. Yeah but the there's a hotel through on the others like we don't they're. How derby opportunities for years to come I don't know that your office specifically those debt as a bus that goes down every Thursday right. This yesterday another went to Rockport view content and it's something that is the agents are religiously sign up forty go down. Every week. Powerful today ripe for different air today is depending on you know where they can find suppressed hysteria or not. I'm and then they go and then you know they've done everything from just you know. Slogging through the staff Ted fixing drywall so it means that it's just it's really an amazing. Well sort spears hold it parliamentary. Swisher a little more about your arm and how you were Kim an important when you in the business. Who do you want the PR story that you store in Arkansas her trip to so is there a. Okay and IE. Was a year a GM as a high tech marketing firm and Austin. And I was I'm an attorney Lee. And I had a baby boy. And when he was two and a half months old my husband was killed when a car accident. And as a result of became very apparent to me that I was not going to be able to continue to be on a plane flying all over the place and running this firm. And if I wanted to provide him a life for arms around so. My mother was in real estate growing up I was her first. Terrible assistance when I was in high school I was truly listen you know lesson and I am an awful. I'm rob it was my rate I know. But I I had I knew enough about the business snow event. With the toolkit that I had I could probably be successful. Hopefully they're pretty good clip and so I decided to shift gears. And secure my real estate license and start a business. That's also yeah tearing up again greens out. That is the story itself to me is Rory since you don't need them sparring. I was. I was Carl likes him. It's going to be really we're response or sort of at a fairly early when folks go through some adversity it can create a lot of this woman really neat. Things are come out about. You are there and I always tell people that I mean if you really find out who you really are as a person and what you're capable of when your backs against the law and and I think that's one of the reasons why well why I of course so much into my clients is that. A lot of them are in trying times very few people are at their best in real estate transaction or. And I can appreciate that and so I make sure that I have their back and tell them you don't actually have to know anything I'll just normal for you. And make sure that you're taking care so you can just put this on auto pilot and walk out. That's awesome that's also are comforting effect the class notes from Jerusalem to start wearing you know and so it's pretty cool so where is it you see. Where's you see your darn shows up the most in real estate transaction. We'll yeah well that's that that's the key question I I think I I I don't have I don't want to talk about myself I'm not entirely sure why I'm here now a I mean you are just I haven't I haven't really I think I have an interesting background of course I think every realtor can say that. And bit me in particular I was I was saints here a couple of days ago I started to my first job was as a news producer here in town and I was the news producer can't stand there and I was there youngest producers the time I had my own show and 21 I was even a college yet. And I was telling people of Boston what they should be thinking about which is terrifying if you actually think about it because of what a hectic I know. But. Thumb I was in the Booth and I was you know working life TV and as a result I learned a lot about keeping your cool. And always having a contingency so the way that I built the newscast was good. Regardless of what happened I had two things behind these suicide as a satellite truck going down orphan news she went down I was had a plan B. Moon and so that's how I operate my real citizens as well. And there's always a plan B there's usually a plan if I'm ninth I'll take it pretty deep so that we never have to panic and worry about what we're going to do next because ironing. That's cool so that helps that isn't. Because of my marketing background is and as an negotiated hard tradition for this only wanna come now you've already got the darker. Every thought it through to via democrats' case or worst case scenario. And so I tell my clients before a joint negotiation here's what I perceive is the best case scenario. Here's what I Percy about the worst case scenario I want to be prepared either way this is where I think it's finally mom. This is probably what's gonna happen next after that I think this is what's gonna happen next in this this program. That's and that's awesome for a green art. I didn't see if you didn't you go out. You know it's like okay we're trying to do a certain price reduction to the needs repairs are thousands of earth and it's like are you doing for that and then just take American decline it. I can just our. Have a film that there's probably isn't something Obama listen it's all learning grower in Europe delusion that your your client are well Olympic. And in negative response go and of what are exactly. Does need to you have. You know. Well makes it easier and I like to tell people you know having question marks at the end of every sentence is very uncomfortable I like to pay periods at the end of all of them. Never one feels better that way. There. Through their we do that weakness is something we do anarchists here's this is were the first in summer and update it's it's not a very cleric. Everything's going you know pretty well you know I think especially for. Our earnings gored by one of the so far just at the so far up you know because you wanted to you wanna let you know you torture. Here's your customer you know the opinion would be the professional. And you wanna be the confident one in this respect so well if you're the leader gosh as our Alessio does scandal sell this goes yeah product near and it happened. And be straightforward I think in most are it is editing more and more the transit. People just want it it's give to a straightforward battered good just give up their act because the chips are following they do but. You know the one thing people always want is they want that honesty and their ears vague your really not being honest with them. My view that you don't know yes which is also terrified they'll see through it. I'd probably if you are considered porn and he hitched on no fat and and and that's one neat thing about your experience as a course. It's an excellent as are great. First your agency secretaries out there and and the pro bring a different skill set that might you know be better and all of us about. But it's like it that's one thing you do you have experiences what is. Just about every real estate transaction has at some point or something coming your feet come up you know and having having their planned in Clancy RD. Really tough minded and you've run this before and is as great. I have always tell my clients something's going to terribly wrong Mannelly it is yet but it's going to they're okay. It just did his defense is their forty people involved in the real estate transaction to transaction now from assistant to ask for assistance to you know you are ever and Roy lenders I mean you name via underwriters their assistance. Friends people make mistakes so something is gonna get messed up it's a matter of how we're going to deal with us don't experience each usually provides America. Who works issue out there what would arm of German German car with a new client we kind of tell about. Or additional little Marshall right now. You know the markets centrist and right now. And I am. I liked that says pay attention to the statistics and so. I was running some numbers recently regarding price reductions. And what the trends where and where things were going and this past summer season we saw. 67%. More price reductions in the two to 300000 dollar range then we saw last year moon. Now that's interesting the range is interesting that centrist and and so it tells me that we're seeing an entering into a bit of a shift. I don't think that's a bad word says anyone's hearing that. They don't panic there I I don't think that's a bad thing we've been and it really go go go phase for many years now and if you look at what people earn. And what the expectations are and and of course you're looking at that every day for them with the expectations are. For what they affordability is we they're there reaches a point in which is untenable your thumb and particularly in that range and also think of buyers. I'm because it has been so go go go there put the brakes on all of that and taking a minute to look. Inventory is increasing. Though that the opportunity does present itself from home which is dead and we're also seeing a lot of you know new builds coming on the provides some additional. Not so arm arm I'm looking at this was sort of mirror just kind of watched the market out kind of Graham of what's been an interest in thing on this have been following those. The builders. And a certain area of bumper prices programme. In the last two weeks Lou last week. ARAMARK. And and we are terribly not unlike. And maybe that's just marketing maybe terrorism is you know who have the kind of dropped to within the summer. And there's interpreter they must be getting enough for traffic judicial conference has come across for. Board thing I keep seeing daily work programme programme programme you know and on his terms limits itself and its interest in. I've trimmed some areas unseen hand some areas and seeing me out there that and it really is very vocalize the moral support our farmer in a close look Riordan. And I think this is certain elements were there that's earlier Easter a little extra demand. And they can do that he can make as shaft there I also have to wonder if they're having to offset some of the expense. Maybe maybe somebody has to do with their came down. Because size cereals and supplies and labors. And there's been a shortage terror in the area is immersing their harm her and that they're not completed comes so there're terminal. And Adobe says that may have some it anger I'm not a builder so I could just be making staffer for now but that's my speculation. Well I thought was really interest in art I was watching that ignited you me. I'm like consumer in this case from New York is he knows where and when the surprise change or something that's pending but so two things happened. One is keep a keep getting you know update a look at it and go in the third outfit out the door to the price market's interest and and the second thing I got the gun emails warrant and under both this but it it marked but there's like eight went pending in the last two days. So I think it might dispute that. It was just I had to hang up their interest in. Elements out there and down so we've got a jump on a break if if folks are you doing researchers who lumber or with so we're answer we stood around from another segment. We've talked about a in order to to shouldn't work you know there's a bit corn transaction restoring. And so we dole reserve some bogeys your take. On that if you're out there and you have any questions for Christie. Our church chimps or is there a phone number that they can call your email address or something. I'm sure they can and they can send me any amount. Here's TK IE RS TY at best of welcome dot com or they can texting are 2930872. And you were upset special ballclub has to will Qaddafi gathered there. And if you miss out but also more from forwards she doesn't touch. Thinks thanks for thanks for soreness after she arm. Really appreciate your time and your busy. I'm theater can squeeze a cent a really appreciate it. We're luckily watts Cornell some more reports there were those. The Iraq. Welcome back to the Austin mortgage report with John issued the on talk thirteen seventy. Have a question for John you can reach him by calling 512190289. Line once again here's John. Welcome back to the awesome wonderful words. And to show. It's it's hard to believe these power goes quickly fits or does or does. We're just got a few minutes here to wrap this up there. Honored to have cures to Lamar throw Williams were just out today I really appreciate it take its undetermined. Answer your knowledge. That info with our listeners are about the march and about how you work them. And even there where you put it away some trade secrets less separatists fuel things man and if I was an announcer I heard a word or coma due out. You know and a permanent Toyota dealer partners serve that's awesome so a numbers 5129 choose your atx Warren that's 512920. 28 Narnia Warren or lost a mortgage report dot com you can follow the show you can look at past shows sinister and about a mortgage rose to her question and we war. I look to ensure for a so big news last week for the last week to this transaction in my understanding is it that it closed down last week. So somebody bought a home in Austin the first home. Maybe ever maybe ever police in the US debt sold. And the buyer paid for using the corn that's correct. Do you feel like you know Dick cornice. Okay yes and that's a dangerous question I mean if if if you want and need to do you explain what the programming is behind NF. Absolutely not and they they are generally sure yeah I have an idea what they kind has I think. I mean assistance. Of the currency as a coach a currency after currency. And dilated. And they are checked it and then once you're looking at the value of it it's gone from 600 dollars. Public corn hang up to your. This was a October about your car. And right now as the court written its exact moments. 5300. Horse brain and I was down an artist in last week and then three. 3500 pound and an amendment that passenger called via the greatest concerts and festivals volatile centered on the show it's gone from 36 or who have pretty far. 33. Start bouncing around us pretty counselor and end some sort of disintegrate because if you don't pay cash for a we looked into it because it's not actually bit the seller accepted the corn now you have to convert it so what happened really is had a corn. They converted to US dollars and denounce what they actually wanted to close range but it was all originally with all the point. But the seller was willing to accept that. Change you know as as payments yes they had known that that was what I was going well and in the tunnel company not in that role as guaranteeing a drug. That transaction is is complete and that and that the immune. So our you know won't lose out somehow so the target we have to cover proven as well that's right right because of those funds were really Durbin talking about Stepan and cover the difference or something like that are not a 100% and yet self. So are sort of take us you know thinking well what about a mortgage or. I think what if you just wanna use the corn for down payment. Is that acceptable. Well if you converted into US dollars then you think OK just a prom season we build a French are pure dollars. Five. And most people know this by now but we have to go back a little bit more court where that money really come from Serb. So we don't just look at it one day of your bank statements are keen gut. 50000 dollars in cash and we're gonna need a couple months have been statements in most cases and we're gonna see where that what happened or that -- months and so we see the strange transaction of there's some sort of Tribune or the points for his daughter wanted to look in about an alternate Renault paid just came from the corn that this transaction originators big corn. And do what we accept that as a lender and I actually worked to sort of Jeremiah and drive and actually had from his transactions yet mustered happening don't. It's been like I don't look down there but I actually found out we cam except. Big point it has to be converted US dollars but were we dirt trek we we just have to track the source of your your clear paper trail. That this person on the big corn and inferred that we are told her virtual product. Had to get out of converted it because I was wondering about with the volatility you can't look at it like a stock discovered converted they will have had to convert it right. To which I thought was understand yeah could be worth one thing one day and the next I don't know what what. You were asked if he was very similar series is cold so some people on cold and in some sports is have him part gold bars and there. Lewis or commercially to post marks the NATO and they trade those are they'd be solemn right and they did cash. And and we can do that you were sort of documents really strange sort of Barbara Lambert Brooke you know you can you cement gold tearing gold exchange company. And and then they'll you know converted enough they'll be it'll prevent. You know put out transaction receipts and such shows that transaction conversion in the world ports or perhaps it's a similar thing has just put its Cyber Monday instead of gold and hitting our stuff. That they. This is just means just took the quiz not real money or not. Apparently it is look at every because burns back by a government. Entities and their economy you know and in their faith but bitcoin is from what I'm reading understands estate. Cyber company that is. And they don't take any money they just X Cree a pathway for you to exchange money and to purchase. They coined by trading in dollars trading with other people who have been coins or. Mining which. I mean you could determine the volume Colmes I mean regular gold bar at Canada's market out there. And I think that. Mean there's companies and theirs you know legitimate proof companies that are doing these transactions and assigning of our future I don't ericsson's. It's I think it's fascinating the meaning of relief because your point you can't lay your hands on it's not like a bar of gold were I can hand you this bar of gold I have and you're like OK here's something yes you really have to get out of that has space and I think we and earns a little bit of a philosophical conversations I don't think gonna take this consumed Warner. There and it's it's death. Be careful don't let's come under there. Well if you if you if you're out there and of the corn you wanna use it for down payment. Supremely well what you do according to our philosophy happened because she wanted to say hello there I would love to do that these so called Libya beat the agent took that did the first yeah the coin down payment in Austin or something. No this year question must have Jimmy called me give a different. Maybe there's another angle this that do you have for our question about her. You know if you're thinking about. You can pay closing cost of the corner and stuff like that unhappy and therefore is as follows on after the serve but also more to report our common. And since America is a good show we're gonna wrap this thing looks archers to moratoriums thanks for coming in and have me. And if you are real sick questioner. Wants somebody the caliber of Christian cures to have to do and I'm sergeant with the emergence of the case. We have Chris might my bright campers from offices Christie's artist Dora happen to Foster students half. She if you are insulated your Calbert a negotiated four do you keep California. He contractors to build a website cost more report are constantly you know which doesn't touch. During the Arizona Lou or her website at best and we'll go to Augusta we'll talk and you music's government. Then at Augusta look at it hasn't noticed that they would have a safe week. It be safe may get a little rain should always use and he's a ring or a baseball term. Processors work and sell a book there we are here this week at a new questions this part of and on this week.