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KJCE 1370AM>Audio on Demand>>House Talk Radio, 12.22.13

House Talk Radio, 12.22.13

Dec 22, 2013|

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Automatically Generated Transcript (may not be 100% accurate)

Good Sunday central Texas get ready for the latest real estate and mortgage news pulse talk radio and John -- Actual -- yeah. And thanks for listening to your house talk radio. It's Sunday it's 5 o'clock which means. We're live with John enjoy here each week we're live at five on thirteen seventy we discussed -- -- real estate answer your questions about the market. I'm John -- -- local mortgage banker wanna -- my cohost Joseph Douglass with Douglass residential. Thank you John so we have very. Special special. Show today it's our holiday edition special and we want to make sure that it's folks understand. Or -- for a you buy a home your seldom will be thinking about making a real state decision. Would love to hear from you can now. Go and check -- house talk radio dot com. And here previous. Shows and get content that we discussed on the show. Right now you can listen to how the pros do it but -- critical to their stories and questions. On health talk radio -- 5127756820. Again it's 51277568. 20. To call -- shelf so if you're just a concern by Peter. John did you get all of your holiday shopping done. Oh man yeah yeah it was a good year visited your dual trim mr. rule -- this year Karachi. Whoa what just with a few days for Christmas are still things -- got a hat for a got a yet you know. I guess it's -- starters -- you have one. Kiddo that's a believer. We want to -- -- labor -- a believer that yeah yeah absolutely and and sent to Israel in fact you know what do we believe in our house. We believe that. Elf on the shelf Israel's well throw. Off the shelf that is common to have that America itself in the -- have to introduce you to this amazing. Thing called off the shelf. I didn't I never heard -- -- so you know there's a book I've read it but. There's now if any comes your house. You can some of the he comes your house during their Christmas season and he. Shows up and each night he moves. About the house about the -- and during the day he watches you. Report back to saint -- and you know he sometimes leaves notes and communicate with family. And moves around and he's. Our elf has done the most amazing things this year you can zip line across -- living room. He is somehow got on the stand in the fan around. House like that ceiling fan for the dog -- horse. Would have been on the season that as Alfred them -- -- -- never meant but it's up but it's earlier fight it's a fun tradition that I've never do. But not vote for what they do they'll never showed up for whatever reason we're blessed and -- with a -- else. He had nothing to report is -- searching glued kid -- -- -- there. How's your daughter during gym fund to shift from the ceiling. We have a lot of -- right now. Vietnam. We had a chance -- -- he came over. Prom is on his way to the North Pole and he actually stopped across Texas early. On and as Monday night and you see any area had any stop by an -- and we had a -- -- other. That that was that was preferring. I took a special moments there though were between each kid would still says -- get a present. And ripped the wrapping paper off before the next -- you know says lap and they would say. A book singled. Wanted to have a Barbie we're seeing a -- wouldn't have sparkling necklace or and looking at slinking. Yeah now so CNN had explained through a lot of explaining to do just to kind of keep up with the probably three year old that just were wanting something that's interested in -- Well it was like you are gonna start off for holidays. You know to steadily here Ellen era vets do because there are some. Neighborhoods that that have been. Nationally recognized as having -- the best -- that and some of these neighborhoods are in our area. So -- his -- chin and stay or stay around fortune or those are and gives -- directions for those that might not have put in Austin real long time or central Jersey. Austin Cedar Park Georgetown. Round -- as some locations some new flights that you got to learn about or hear about. George say what I wanna spin this into your show. Talking about. How we can help folks buy houses because right now it's little frustrating time for buyers. Especially if they own a house that can be really -- right now. -- -- so little at the -- Rick rephrase this with the day holly spin is that you want to bring. You our listeners. A feeling of hope. And holiday each year and productivity. Going into the next year that. Home -- will be easier interest rates will remain low and that ownership is just -- -- corner. Yes good -- good -- -- hit a cut at a biker all of that I'm not sure it's gonna get a lot easier but. How do you deal with the current situation. And accomplish your goals if it is to buy new house and get into now so for example. This week. Have -- office and on a house that they about about ten years ago in -- branch and you know they have some equity. And their rated upgrade. You know I deduct their cars here are some -- you know I'd -- to the other in the mid thirties they're making more money. It can afford a bigger house in the -- to make -- of the problem has. Eleven wells branch and wells branch and years ago we'll bring photo but two years ago that was a little far north and now. Got pretty darn central that is that is versatile to -- and they like being. That central and so -- our -- -- on the solar house for about future when he probably. And there perhaps been part 350. He did it doesn't want to get -- from what -- so the problem is that public equity deal they have though that is that's clearly it they've. They have around 50000 equity that's good. To Mecca for the maturity -- dollar house with the tweets about it. Correct or and make their case owner mark the three of the two dozen house with more like 10% no apparent but the problem is equities in the house. And -- a little scary right now. To. Sell a house because. There's not you many houses available for -- That's right -- towards tight. The most so what it was sort of in a what -- -- Canada but he said he still thinking about things are gonna have a -- well that's that's what I want structural Alastair there were things about this I know that there is -- what we've. If they're turned our -- pent up demand there are folks out there who are elect these folks and they've. They probably would have moved three or four years ago but what happened there for years ago. A consultant. Or there's there's uncertainty. The job market was scary. Or some lay -- even in Austin, Texas the local people were not buying so and they were like oh let's just sit tight that's -- these folks are now like -- You even just this week the GDP number came out. Considerably -- thought this the national number but economy's looking much better subconscious is correct and the -- to make a move like so many other folks. The problem is what they need to do is all the site at one point for the house in the market at the same time. So that the ones that. That that you can see what's really out there the province north were -- wants to get off the markets are afraid that if I want they want. -- So what needs to happen. For folks that are in the situation. They need to start right now we're stopping me be realistic is how -- -- -- home one and threw one in three homes sell within the first week. 82 but you know the statistics -- two weeks -- I would bet that it's the first week. Homes are contract. So one in three homes so ourself are contracting within a week ago on the market. So you would be sure that your one of those once you know at number two number three -- sit for a little while so you pressure home. Aggressively but within reason -- home ready have a -- staged if you've got that bright. Bright purple room what's changed that color because folks that will deter folks -- landscape already been happier or ready for sale. And once you confine your home you what to contract -- need to prepared patrol on the market now. Easily easily said -- -- her -- kinda difficult to deal. And that's near you regard him financed by. And her contract I'd be I'll be ready immediately to figure -- mark I'd be out there looking at houses every week it might take you. Three months and you have really you can't look every week but -- to a a routine. Where you are hunts to -- just Europe a watchdog. Looking at house of waiting for the other and there's tools out there realtors can signal with schools so that you were notified as soon as properties hit the market. You are it where. About you don't need to rush out see you were singled home but you do need to know what -- -- event. What your budget is and pretty much -- what what the Q what would a condition of home -- who is willing is acceptable -- so that when it comes on the market. You can swiftly living and say that's what I -- right or offer. The other thing too is that the the open the unpredictability. Of buying a home it's not whether or not. Is much. To find my dream home I'd say you got a 5050 shot. -- in getting to you escrow getting a contract get 5050 shot because there's so many other people. That are doing the same thing they're doing so start now if you're agenda is to news sometime the next six months it really could take 456 offers. Before you it can it's free if that. So number two I would say have a backup plan so your plan. Will work if they get their -- quickly if they don't get their -- so quickly. Rebecca -- could be this thing could be doing with more as I said these folks are making more money. They can qualify for both payments that you keep their current house in my new house. And that's probably the easiest way to zone but they don't want you they don't wanna be stuck with you Gaza scary. But have the backup plan and -- qualified or find out if it's even an option in case your house for some reason -- isn't the one -- three doesn't sell in a week. And it might take longer. You wanna be super stressed out. So having a backup plan in for example we came up with this family has. Instead of they're gonna get 50000 -- when the solar house to work for doesn't sell new storm by their dream on map you know the front of him -- Merrill loses. So. Big do you have 5% down them so they're going to be able to put -- and down from savings they're gonna -- little bit from the -- schedule for -- For the Tampa 5% down just in case -- out of and so and then once or how cells because I think it's fair to say their house will sell. Or price -- and wells branch -- and Austin it's gonna self. Eventually that if it doesn't -- put them up you know a little too little delayed the 5% down. You might have some mortgage insurance for awhile when your house does on the that equity they're gonna -- alone down and do what's called a recasts. That's where we recalculate their payment. To the new lower balance so we've got to take a break here but if you're in the situation give us a call let's talk three. Your -- maybe slightly different in this. Let's not where I want to. 77568. Teaser that 7756820. Take your call right now. We've right back with more Christmas stories and mortgage and loan and real estate news with John Jones and -- talk radio. Get ready for the latest real estate. -- -- -- -- John -- We're back -- this is -- talk radio here and if you enjoy. -- -- and yell it is our holiday show but let's pretend things are talking about right now. But actually don't look you know -- -- -- back to is I've had a first. So real estate there's you know when -- -- -- -- -- you've been doing things as long. Do you -- a long time. Pavlik a first like something happened -- happens almost daily world daily in your world right -- go around though mean to have the first -- kind of like this is shocking. It happened today. -- -- Well as with us with the client and yet. Probable be able to tell an exact same fashion as has happened. And produce the same drama and excitement. It occurred but there's an action was pretty funny in hindsight the stone dead at the -- purchase -- while it was going on. And -- that house for us do our thing and as were. Kind of walk around we hear a little scratchy scratch scratch on a dork who's figured that is that a dog. And I was gonna go open at my client just thought why not let's open it up and see what's scratching behind the door. And the little adorable. Cocker spaniel comes darting out from the laundry room door and is jumping around. The dog was very sweet Maria we -- -- on the way out the door. And as I am opening the door of another realtor is coming in. And so it's kind of this awkward although I didn't know that you're there and oh I didn't know that you were there you are. And as a garden or up or did doc -- he beeline right up the door right between us. And so that the -- walking with this client -- clients got four kids didn't do the wife to get to kids in each Orman is too young kids. And I'm but with just single single guy so. -- of course I'm gonna be in charge of trainer Richard Augusta because I've also would allow a closet. That don't. Mix of -- Out the door across the street weren't suburbia like mr. typical suburban. Across the street runs for house is down to the stop sign stops. Turns around and looks back. It's about time I start running now to go get it it's and now it's probably good -- front yards away. The dog sprints away expense of the street. -- dog ran for over a mile. Now. The -- but the dog ran for over a mile. NM where my cowboy boots and I'm just charging up the hill -- it was with -- running alongside listed -- and help you couldn't get the car and fungus later. And every time I did get within about three or four house's. Of distance away from the dollar the dollar -- further it's a filing a maintenance BN or we -- guy came out from behind a house. He's Islam or the back of the truck. And the mean it's -- I don't know you spoke English but I'm yelling and the dog Palestine seasoning and -- and it goes over inserts ticked up there at the dog. -- -- -- -- -- And he begins to pet him and I'm yelling pick up the up tick talk up. Daddy you're just it's -- didn't understand in my crap out of the bolting forward in Texas little eight pound dog up. My timing my Davis -- -- Armitage is gonna ruin. -- -- Hadn't happened yet in my office now -- know him more more all the dislike him harassing -- chasing a dog down the road and around the corner and up the hill. If -- in a lot worse yeah yeah. Well. Now -- a story like that can be as well I was you know -- I can imagine soaring Christmas and having that and if that parents Fisher didn't have their dark -- -- -- present these -- the little things that -- don't know about it can happen real state to -- just. You know so lucky dogs of persona home. But a sign on the door this time of the Doris is still yet so. I wanna talk to the parents out there are -- the parents. Of kids that are in college. Or. In their early twenties. If your parent out there. Or grandparent you grandchildren this age range. You probably know without me saying that this is an unprecedented time to buy down. I mean the only better time to buy a home boy is in the late 80s and central Texas. Went home values were way down right. This the next best time actually the the second best time was a year ago or two years ago or even. It is the third best. Goofed in the last forty years -- that which is widget that so. The reason is it. That rates are still -- -- at home values. Are only gonna go way up especially. When you look at home -- -- relative to what you think about cost of it asks us why do you why do you think that home eyes are all gonna go up. If if you want -- argument at a reasonable commute time to a job and in the city of Austin. Home by his they're gonna you're always got to go further out of town and you discover a cheaper why -- always admitted yeah. Why can't we say look values you know what's rates go up a -- what to say -- straight out for a half will be at five and something this year that six or seven the following year -- streets and get up there. And up there I don't know what that -- 678. -- to get up there don't you think that home prices just for argument sake are the gonna come down. -- your wife. Because there are 60000. Residents moving industries in every year. This is from multiple sources. But around 60000 moving here. One in seven of those. Actually deserved it did back in 2001 and seven folks in Austin made underdogs are more. Reading is now. It's up and they had -- that but -- sworn in for a month project so people have money -- awesome I think everybody in -- of money but there's a lot of so it wasn't for fillies and gross over a 100000 dollars here correct -- Oozes from the I think that's going to consensus. So. Those are two reasons right there so these folks are gonna buy and they're gonna buy. They're going to be wanna pay more money than the current price of homes it means they can have a shorter commute relive it in a certain area town. That a school and trinity. Everybody else is gonna -- further out and that's part in. But if you're looking for investment. If you're looking for something that. You know tenure she -- -- -- worth more money there's just can't see a scenario. Work central Texas if you buy anywhere in this area right now you by the home in this area and it's. Yeah it's gonna go and so in rates for sure gonna -- no one's gonna I don't give. You know rights are gonna go out and certainly is it more expensive. Team until lineup and I know this -- -- parents notice. Parents are helping their kids by house all the time I have seen this puts on and on the rim co signers because they know Ruth group that. If this particular -- coming afforded -- waiting five more years for the get the better jobs more savings. They're just gonna pay him more and so there trying to help hey I'll help you won't let us now but not just that. It took the child start earning equity. Absolutely and it will have a larger -- to put toward their next purchase you have -- But excellent point because the parents know that they know that if it that say this isn't their dream home -- number of the to sober house. Now have a down payment for the house and we want. So he would you hear things that they say look. In the past the past twelve months we've seen places. Around Helm. The -- have gone up fifteen. To 20% almost unprecedented. What was so to put that in perspective. 200000 dollar house. In January of that of 2013. By October November was 240. Is that really possible that we have 40000 dollars in -- in the answers yes it is we -- we're seeing this everywhere. But it. How our. Current house is gonna happen for next year we have any sort of growth predictions for next year. Well -- we were gonna have 60000 or 60000 more residents. Taught her that were neck and CE 12% gains but we should see ten. Tennis and very acceptable number that we -- We're expected to have an assistant to demand look at it in there earlier just -- -- -- my office. They are well on the set they wanna sell their two -- a dozen house and by three and fifty dozen house there wanna pay 350. To be somewhat close in the town. There are a lot of -- film is like that they're willing to pay them money. There will pay more money they're making more money the job market better next year it's is going to be that much as you -- that was better sort of case in point. And more continuous cover just forgot to break but some. We're talk about a cup there's several companies hiring right now in the wages they're paying are reasonable and will help folks afford that two to three to four -- house. And so. The parents out there we got a minute left. We can help you. And through this and figure what your options are. It's very common. For. Fur should children be -- in in school or maybe it got a job history that's not as tenured as it needs to -- to qualify but they're good credit. They may have little money number apparent you cosigned with them we can use the parents' income. Their job stability. To buy a house with very it would mark me down and talk and three and a half percent down -- just today. And down low -- on a terror if a parent doesn't wanna cosigned. A parent can give it to did you know gift giving a down payment of three and a half percent -- -- -- house -- in some hair raising Arthurs -- down. So let's credits and -- conversation I think there's -- a lot of parents out there -- thought about this. If you have give us a call or 5127756820. But the just talk you through your options no obligation. Because I think it's something that. And what a great gift to give her child and how much responsibility to help them learn you know but I hope in this transaction elicit a hostile credit Jolie John. And -- line. At times. Good Sunday central Texas. Get ready for the -- this real estate and mortgage news our house talk radio -- -- -- -- -- -- -- Dan welcome back to health talk radio. Sunday for her by the six. Talk about real stickler for mortgages from joint chiefs -- was supreme money or gradual burgers with -- -- residential. -- we attended a and interesting. First off on number 5127756820. Apartment to some some -- succeed too there. You know we don't -- -- up but were online house torque rated dot com. You listen to this show or Pashos. Right. Nineteen dollars an -- is the average. Working wage for someone. With -- with out secondary education without that statistic -- regular 1850 but nineteen caught bits and so. That doesn't -- it at ninety dollars an hour -- -- or -- production so -- since nineteen and our contention transported. That's forty grand a year -- If if there's if that's only one parent of one person. Putts. You're gonna -- must have a really large down payment you're gonna you know be buying a house around 150 to 200. -- -- -- -- Very difficult to buying anything. Within. Up 45 minute commute sufficient traffic Austin enough pressure and right but which you can do. Is -- smaller. So my question is. How many folks do you think -- are willing to live McGraw department. Or some sort of very small. Put a situation like -- like new York and Boston thirty years from now. I think we're gonna see a lot more of these small developments of the talk on this panel that's kind of a new wave -- You know building these. Small. New quad you know four plex -- properties. My thought of this is that there is going there's just a need for. There's such as a greater need for -- for jobs to be away from downtown we have a lot of we have to have more businesses away from downtown we have more commerce away from downtown I think they'll help pull traffic and pull people away from downtown. But that's not trend has not received everybody western downtown. And that is where the -- Of activity is so as we begin did -- as -- you can't fight you can't fight market you can fight the trend. And as you as as we as tripled to right this trend. The need for affordable housing is just becoming a bigger deal so as -- -- out the response to that that the developers are taking is. And instead of build out build up. So instead of have. One large home -- too small homes -- forceful Holmes and build and have them on top of each other. Said the need to have. Smaller space. Is gonna become really important and for how the world. Just I hear this and what I felt like was missing from the discussion was the reality that people don't live on the -- department. There are few or some there are family of four went -- live -- that apartment now and they want I mean there's. I just we have a little more story well there and also a lot of there's a lot more instability. When you start confining people to small spaces we look at a fairly. A failing of two -- or tricked me but no I think that you have failure to that. Livid at two bedroom or one bedroom they live downtown our coastal town and then guess what were. We have the plant now we have a dog now -- telling a child. And now entering our second child there's going to be a just a lot of changes -- that it as we go through trying to live in that little two bed two bath place. And instability because at the right word but discomfort. And at some point you gonna what. Because -- -- relive nothing makes you move faster. If you're comfortable we live. Yeah hi I -- I don't know if you can possibly have an affordability. You know a panel talking about affordability and took text without bringing in. The cities around because it's got to be part of the equation. And it's I think Austin has -- if they're either trying to figure out how. To help somebody who makes forty dollars a year try to help them live in Austin. And I just don't think it's how -- distinctive most of us -- gonna end up moving out and so it's -- -- how to what does that mean I think the least I think leasing a very honest. Way to look at a four out of four wheel housing -- You'll only see their mean eventually one of our own you know what if I can at least something I had no. A couple kids in I want to live downtown because my job was downtown I might actually look at leasing if it was affordable. Now we can control I think he can do a better job controlling. Rent that we can't control the market values of home prices. You can have rent controlled. Rent control can be this is very easy you and you have to finish properties. To be. Magnificent. You know just an average property. Average finish up for that -- for that makes us makes income didn't talk. -- that but it was that -- we'll see guys I think they're driving their. You know it's gonna be a lot of money on his you know I I don't know I don't know this my final yesterday that it seems -- -- me a lot of money spent and time and energy. Timing and horror 10%. To have an impact on 10% of the folks that would like to move here -- the rest the other 90%. Are moving out and -- all this money on this 10%. You know -- are really the reality is folks want a yard they want a little space there were a lot it'll immigrants are they don't live in a four -- they wanna own a house. And they didn't they need to be in the to -- 50000 price range and if you can't find that you gonna go out and find its routes and so that's that's it's got to be the reality -- discussed not. Not how to we keep these people in the city I don't see it happening. When you're -- when you look at what makes Austin unique and you look at the culture and learn the identity that Austin has has created. It's come from. What I think is a very more artistic. Angle and a lot of the artistic. These these artists of all walks of life. They may not make much money -- the -- passion and that. Bye bye -- by moving that group. Away from downtown. Ticket what's gonna happen to that that did -- Austin. Is he gonna change. -- changed for the better. People look at what a -- B Libby is Austin's now we're gonna have to step up is the colts from Austin and it dramatically be different from. People are living here with the idea of like in my life will be better because I I now live in the city that has a really need five to now. Now living in really big city with a lot of traffic it just it's just where it came from mind. I think every great city is gone through this change. To keeping that identity is going to be Austin's -- run another key to it. Yeah Boston's success I get it I mean yes and not going through a phase were you know I think this happened in Dallas Dallas 23 years there where. Yeah everybody mean to the suburbs and a -- this city kind of lost its energy like you said. Another read -- they're coming around in the region refocusing back from a central city. And people moving back to -- condos productivity downtown Sydney and ghost town on the weekend that subjective. So are you thinking ahead trying to keep up happening. Her -- -- -- a long way from happening in Austin, Texas that. But down. But what happens it doesn't go back. It you don't need to say in five years or seven years now are we have our values are super high. In a traffic's really crazy and now we've got folks it was that are paying a lot to live downtown -- Or work downtown or the -- guys are just so expensive -- bought it in a million in ninety to sell it for one point one. -- know once the buyer because they wound around her room there's nothing that -- down here. We gonna lose that. Some really Smart city leaders and some his adjoining cities and like Tom Tom Tom Osborne a raise in Austin I'm not -- -- by means for him sound like there when I'm saying this but. If you can create some sort of similar survive in these cities around -- just build a city you know develop an improper ethic their bloody -- trying. You -- that they're playing right and that's because the senate bill spent 4000 and a pulse comes spent 300000 or hear. That same feel. But -- watch but we have. East Austin to east Austin is kind of the future. -- like the future. Mean the numbers that you did just talked about. Which are gonna talk about the next segment but. Hearing us talk radio you are hearing them. The statistics for November 13 2013 and can we talk about. The average -- median home price. 220000 dollars 44 between between us and our house in Austin well they're Burr bringing in all the suburbs but I'm guilty of exactly you'll find an obstinate. And she go east. Right or your first -- south. But what you go north there's usually not not their written round rock and -- -- and Maynor and liberty hill. You can easily find stuff for 200 -- but do you. -- eat those folks look at that live up there are probably not engaged in the Boston market. Let's -- her. -- The people at me government -- -- -- -- -- battle you know the traffic isn't that bad and Austin and I mean it's bad it. Certain times. But for example if you come -- if you come to work if you leave your house and you're in the suburbs you leave your house at seven. Traffic in Manhattan due to six is really not about what seven can be done well how do you have missed six or six -- but when you get kids and stuff and it's hard data. -- Wilson can leave an hour later. So folks are low level a lot of literature mr. Give little flexibility and jobless you have to be -- -- it should be downtown 88 o'clock -- hit a great period. I think that though what the have to do. Mean is -- incomes we'll have to rise in order for. At a cost of that secretary. She or he might need to happen much higher paychecks. Because -- he's gonna be living downtown. We -- just -- and -- And or the company Cisco gosh where have good talent. You know that person I'm as though that that doesn't have isn't fixed there's always going to be folks at the bottom and and sort of the way trench. So it's still saying true but more people who live in town but the rest from still blocked -- its economic the president got more. Think if there look at it this is all market is the market work. -- supper break your dose and cost house talk for a house talking German word for German radio and house talk radio. John and -- The special edition. -- being. Tested and we -- our. Norris but we have a practice notice charming as miss okay. Good Sunday central Texas didn't really for the -- this real estate and mortgage news also talk radio John QC. And jewels -- And welcome back you're listening to your house talk. Radio. When John and jolt this is a special. Holiday edition. Only happens once every year period. Very happy to be here very happy. Spread the cheer and spray. Yuletide greetings to all analyst is out -- who have lists -- each week so great to have you here. John which -- about what's happening here in what happened in November. With a wholesale a wholesale statistics. Some really being the numbers just keep grow we've had thirty straight months just wholesale of -- is increasing. -- we've had to. Us -- at the -- reports -- scoped out some some numbers here. Or stop median home price. We're now up to 220. This for November it's 2% higher than it was last year this time. Mean who priceless in Texas that you bought something in you -- in two dozen thirteen your attempt at 10%. Up. Every day average days homes on the market 51. We have a two and a half of supplying them toward that kind of goes right into that. I think it's is apps astounding. Found -- -- disturbing that the the dollar -- of though the dollar volume of homes sold this is quite a staggering number. We had 555. Million dollars worth of property. That doesn't mean anything to you what should matter to you is that that number 555. Million it's 24%. More. Almost a quarter more in value. Of hope of of some of of of homes sold more than two -- twelfth. So our market we had 10% more homes sell. But we had -- value of those homes was 25% more than what they were last year. Well we're seeing on a high in the higher in the Lamar Hunt and the hiring a dollar zealots -- yourself and that's just trying to do well and and I have to say. Is now a million dollars higher end. Yes. Well for some. Artists I think that now debt and that the new bars 2000003. Million. I think we'll see a lot -- million dollar himself I think the people can afford it I think the folks are just trading. Trading what more can refer another because they had at 6% worst period of 8000 dollar house in knowing what they have a 1000000000001. That. That that interest rates now. Point up last. Is that do you think you're seeing -- -- So folks are just trading mortgage payments. To get a bigger house. Well portent of. -- yeah yeah yeah bigger house I mean there's also there's people that wanna move I mean they've been announced ten years and -- enormous change series centers that are. And have kids kid him -- would have certain house to the kids weren't they weren't accused of certain school and -- drought so. That's part of it took its demand some of these folks from a troopers are on their armament they -- -- miss veneman now. Job market I gotta talk about something here for a time drove the big news this week and that is related to mortgage rates. So mortgage rates inched up nothing dramatic tournament -- -- purpose something -- the holiday show. What you'd said evidence McKee two words you said that by the into this year. Which only a few days left Richard we have 5% of your column -- that of course and another -- -- RB SE 5% in the next week to. I think you'll hit five we're in the we're not afford half we're -- afford a half so we just under fire. So we space so we stole a little gaga they're clearly illustrates I mean depending on your snare around four point 625 in that range today so. And just what two weeks ago there four point three. -- -- -- please go to the they've gone up some regards Simon and what's going on as the Fed has been supporting the market by buying mortgage bonds and treasuries. And announce this week. You know this is something so roasters don't care what this Sunday. I don't know the knowledgeable and we're sharing this with him because. It is important it absolutely affects that direction rates and so the threat came out said we're gonna back off they were buying. A total 85 billion dollars in mortgages. We're pressures in treasuries they've backed off from up -- -- five billion starting in January. There's someone expected but having it be official. Is what push rates to slightly higher this week. We're not five yet. I don't think will be fire over the next few weeks but if I was. Under Contra right now. I was closing on the next thirty days I would lean towards -- district the it the right in the wall economy's getting better not collected the way around that is saying that as well throw -- back up tents up. Rates will continue to inch up -- -- grimace he racetrack -- that is that your gift to our listeners is that you're telling them to lock. Locked daughter here okay. Don't you open a soapbox here don't be the grinch and -- -- clear to clients this week Britain that. Okay. Folks are pissed that the rate factory and happy -- thirty here they're pissed. Because we started looking six months ago confined to house. The markets are tight they finally found a house. It we got called me six months that it qualified Richard three and half the call Iraqi and ago. -- rich Internet now so are there in the mid fours now. It kind of pissed and I did it I get the emotion of it but they take a camera find him doing somebody's going to be a three and a half personalized and before court. They call around and make some calls. And then they call back two days later is saying. Jonathan on the straight commute matches her -- -- you know it's similar or they -- say you know what you're right what's blocked great and you when it happened on maritime rights went up 8%. Meanwhile I told them -- think rates are going -- you probably should -- in now they're gonna shop around now they're not going. Regardless of which -- everybody's great we -- and it's a very efficient market and that there were -- -- everybody's -- her -- it's all the same money at the end of today. So. I just have had to happen and I understand. It's tough to trust. Up more mortgage that's kind of like the sales guy you kind of see rent rolls north but sometimes the right in its good advice and I didn't have to have equal time so. Whatever that means. It just effort what does that mean little effort into anarchy total by the south they don't buy -- -- in our country -- -- -- -- like to -- I've heard you've been called. A lot of things. A lot of things but for -- Obama -- Uncertainty but one thing I think they that that that that they have a call to that they should. Is a mortgage rate profit. Your profit of private. That speaks about. Or through I -- call -- the rich for your familiar and -- Europe. So -- real quick here -- -- -- Christmas lights check on our on our blog. House talk radio dot com. We've got opposed of the top neighbor has a secret complex at Texas into the top three your -- -- greater dot com I'll take my favorite. You tell me your paper view of my favorite. And we -- to sit the city of Austin what's a political. Look crowded down there -- the -- lice drill that's very cool virtual I'd I'd there was fun time but there's complacency apart called united court. Your website to look option on court in collective a FaceBook page. It's a street I talk we talk on the show it's a really great treat to close second twelve houses dated 212 it's a Christmas each house has cool theme. In the middle Cole -- there're always have a bonfire. -- -- the -- on the planet they're collecting toys I think for brown Santa. That's my -- did a favorite. -- like the ones off of thirty so 37 street. Yeah I think sixties is at 373 36 at half I think there's a -- in their summer 32 apparently sort of seventh actually sort. The title street -- now. I've been to several times. The first second Austin I thought how in. Heck is the white people who come and visit to see these lights that this is so crazy it's just a hodgepodge of just a joke. But that was my first opinion but after going back. Year after year there's like this appreciation. Fort and is very cool it's really it's just really unique I'd have been a couple years have you been -- Primes there's like three years ago maybe 23 years ago. But there's also there's of that but I always everything year we drive kids through. Impacted written heights -- return through certain value should huddle -- out -- the visa where they were the folks spend. And 151000 dollars companies to come out there cranes and their crews and their way out of -- it's -- it's just north Clark felt. -- -- -- record but if you're on the -- where you exit so. The -- heights is really old such a talent and it is just been -- moved cinched it almost out of Austin just north infield. There's infield in six Mo -- and you'd wanna be on the east side. Of the pack towards downtown burst -- So there's cycle streets of gassed in gas stone Kasten Harris Harris has got to really gets -- lights. -- a lot of street can come pretty pretty homes there I mean just the decorations -- just think -- This is a kind of a storybook we see these houses -- a decorated. Really present. They're gonna vote neighbors are gonna thank you when their have a rush of people that -- -- got to distribute it well that's what they want it that's why they do it they do they do. This is spreading their holiday cheer. Well on. That note. Allison -- thank you for -- Europe on the show here -- good things come to an end John it has been a wild ride to get this far. The question is. To make wilder. 2014. Absolutely. Looked at a decrease of female energy -- -- I've got a couple surprises for you -- drop -- starting a new year. The an -- addition -- were talking about what we have to predictions here. So ended year to go thirteen. Predictions so are we gonna follow this up but the first show in 2014 to see -- -- them growing. The last show of two of fourteen receive a -- we were there. Prediction what's that my prediction this. Mortgage rates. Five and a half percent. -- into the new year. -- you'll still be able to virtual home with a slowdown -- the rules so -- zero down options. You know -- Boozer down there also be planning a 5% down three and a half percent down options. And I think that the fear. And eager to a lot of press about this the next couple weeks about change in the mortgage industry to -- -- this have arms it's not going to be as dramatic as folks think. And it's still going to be a great in my house. It'll be the fourth best time missed on in my house -- third best time is this is mr. Wright forced or especially next year. -- I echo that to you I think that Rick go and ended 2014. It's going to be just great for home sellers -- for homebuyers I don't think that we're gonna so I've been having scarcer and more just me into this year. We have more people that are more sellers are saying hole was it for his house he's the he's getting 300 Connecticut. 375. To find three Seve five in -- it's. 3040% more than what the mark will hold. Folks like that that are trying to sell their home to you got to be realistic -- home you've got to be realistic. And if you war you have no problem things we very predictable and you get a lot of money your home for folks that are buying a home have a plan. Let's try and -- thing is have a have a how to play and it is not. Convinced it was a -- you put my house a switch out there NN. You know has put off front but. Everybody has that he's that commercialism so the cut it's it's it's it's competitive to have a plant have a timetable make time to see house's. And be patient you will find. Your dream home and and a jolt. We've come to the end of another year house talk radio doesn't thirteen. Points they have -- as all of our listeners. Wish you guys -- great -- fourteen -- back also hope that feel. That honesty is back on the air -- And ethnic back at. Well trichet -- and and they're great they're great great great year and now yeah all the best. We hope that your B stick around and you can't just in 2014. Even listen to house talk radio. And you can continue the conversation -- a great -- or you can reach us at 5127756820. --

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