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Full Episode Transcript: Monday Morning Coffee: Team USA, Falling Rates, D.R. Horton Deals, Meet Ben O'Toole & Our Week Serving Families in Alabama
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Welcome back to Real Stories with Buddy Blake. I'm so glad you're here. So Buddy, you just sent out this Monday morning message and there's a lot going on.
You've got Team USA, interest rates dropping, some crazy builder deals happening, a new AI assistant named Ben, and then you're heading off to do some really meaningful work in Alabama.
That's a lot for one week. Where do you want to start? Oh man, thanks for having me. Yeah, it's been a busy time.
You know, first thing I just want to say is I hope everyone had a great 4th of July weekend celebrating America's 250th anniversary. It's kind of wild because I can actually remember the bicentennial, you know, with those bicentennial quarters and everything.
My kids have no idea what I'm talking about, but I've now seen two of these major anniversaries and I'm pretty certain I won't see the 300th. So you appreciate these moments, you know?
But yeah, tonight we've got Team USA playing soccer. And even though I'm not usually a huge soccer fan, except when my kids play, then I'm all in, there's just something special about seeing the whole country united behind our team.
The energy is incredible. We're all watching it as a family tonight. Oh, I love that. It's one of those things where it doesn't matter if you're normally into the sport or not, there's just something about your country
competing on that stage. So let's talk about what's actually happening in the real estate market right now, because I know a lot of people are wondering, interest rates have been kind of scary for a while there, right?
Exactly. So the good news is the market is starting to pick back up. We've had some international situations. Obviously what's happening overseas has affected things more than anyone anticipated this year.
But here's the thing that's really encouraging. Interest rates are starting to slide back down. We're not above 7% anymore. So we're seeing rates in the sixes again, which is fantastic.
And hopefully we'll see those continue to migrate down through the rest of the year into the low sixes, maybe even get back to those high fives we briefly saw back in April before everything got crazy overseas.
So there's real movement happening, and that's creating opportunities for both buyers and sellers. Okay, so if someone's been sitting on the fence thinking about selling, what do you tell them?
Because I imagine a lot of people are still thinking about those peak prices from a few years ago. Yeah, and that's the thing I really want people to understand.
If you're a seller, don't wait. I know that sounds counterintuitive, but here's the reality. We have this cost of waiting report that shows why you need to sell now, even if you get less than you would have three years ago
during the height of the market. You're just not gonna get those peak prices again. That's the truth. But here's what people forget.
If you've owned your house for more than five or six years, you've crushed it. You've made a ton of money on it. Enjoy that win.
Take that money and buy something else, especially if you're in your 60s, 70s, or 80s, and you wanna move closer to family and grandkids. Make that decision.
Don't just sit around trying to time the market because there's no crystal ball. Our markets haven't crashed, which is fantastic, but values have kind of flatlined over the last three years.
So if you've got that equity, use it. That makes so much sense. So you're saying the time to move isn't necessarily about waiting for the market to peak again.
It's about what's right for your life situation. What about buyers though? I imagine they're thinking about waiting for rates to drop even more.
Oh man, this is so important. Buyers are always saying, I'm just gonna wait for interest rates to come down. And we created this cost of waiting report specifically to show what it actually costs you to wait.
Here's the thing, that house that's priced at a certain point today, if you think you'll just wait three or four years or rent for a while, you're gonna get behind.
Even with houses appreciating at just three or 4% a year, which is what we're seeing in most cases, you're continuously getting further behind the eight ball. It's a really cool report.
And you can run it on any property anywhere in our region, really anywhere in the United States. I'd love feedback on it because we created it in-house. That's smart.
Okay, so I heard you mentioned DR Horton and some national builders throwing out some pretty wild deals right now. Tell me about that, cause that caught my attention.
Yeah, so national home builders are really unloading right now and offering some amazing deals. Now I'm gonna be honest with you, our favorite builders are actually local builders, but right now the biggest national builder in our area is DR Horton.
And they've got over 100 homes for sale ready to go. They're throwing out some incredible deals that are honestly hard to ignore. We've got agents in our office looking at these as investment opportunities, buying them as rentals.
Cause here's the math. If you get one of these homes with a crazy low 3.99% interest rate, plus they're giving you 20 grand to close with, plus upgrades, the kitchen sink basically.
And then you wait two or three years for that neighborhood to fill out. You're going to make a lot of money. The location matters.
And some of these neighborhoods are going to appreciate nicely. Plus if you're renting right now, you might actually be able to buy one of these homes cheaper than you're paying in rent and rents are going up, especially on single family houses.
No kidding. So it's actually a really interesting time for people who are on the fence about renting versus buying. Speaking of new things, you mentioned bringing on Ben O'Toole, who's an AI assistant.
I want to understand this because I know some people might be a little hesitant about that. What's Ben actually doing? So Ben is reaching out to people in our database that we haven't talked to in a long time.
And look, we've been blessed with an incredible online presence and marketing presence for over 25 years. We've got a massive database. We're talking 50,000 plus people.
The challenge is we can't personally call all 50,000 people. Some folks came in five years ago and still want property. Some came in two years ago and don't want to hear from us at all.
And that's totally fine. We get it, but we know we're dropping the ball on communication because we don't know what people are looking for, even if they're looking for anything.
So Ben will reach out, probably give you a call. But here's the thing, he's upfront about it. He'll tell you right away that he's an AI assistant. You can have a full conversation with him.
And at any time you can say, hey, transfer me to Buddy or Aaron and we'll transfer you immediately. What we really want to know is, do you want information from us?
Have you already moved? Do you want off the database? That's okay too. We certainly don't want to bug people who don't want to hear from us.
And I'd love feedback on how Ben's doing. I appreciate that transparency. You're being really clear that it's AI and people can opt out or talk to a real person.
That's refreshing. So then you mentioned you're heading to Hope Hills Camp in Alabama for a whole week. This sounds like it's really important to you and your family.
What's that all about? Oh man, this is something my wife and I and our daughters do every year. We're heading to Novo, Alabama.
It's literally in the middle of nowhere with almost no cell service. There's one building with internet certain times at night after the campers are down.
But here's what happens. We volunteer at Hope Hills Camp and we serve families for free. These are families who have someone with a disability, could be a parent, could be a child.
And this camp gives them a chance to breathe and get support and services. But the kids and adults with disabilities, they have the time of their life.
Look, I'm not going to tell you it's easy, it's hard, it's uncomfortable. My wife loves it and signed us up originally. But once you get there, you get outside your comfort zone and into what I believe we're meant to do, love on others.
Our girls have grown up in this environment where they learned to serve people naturally. When they encounter someone with a disability at school or church or just in life, they don't shy away.
They lean in. It's beautiful, even though it's grueling and hot and I'll be bunking with a bunch of other guys, but it's worth it.
I'll be gone starting next Saturday through the following Sunday. So a full week, my team will be covering things and I'll be able to check email maybe around 10 or 11 at night.
That's really something special. You're modeling for your kids what it means to actually show up and serve. And I imagine that's changing how they see the world.
Before you go though, is there anything else people should know this week? Just a couple of things. If you have extra money or need to donate for tax purposes, there's a link below for Hope Hills Camp.
We already pay our own way so campers can go free, but if you wanna contribute, we'd love it. And I really do encourage anyone who's interested in serving to check out Hope Hills Camp.
It might be something you wanna do with your family. It's been huge for us, but mostly I'm just thankful, thankful to live in America, thankful for a great family and thankful that you took the time to watch this.
Whether we like it or not, the world is moving toward AI and it's the only way we can serve the number of people we're trying to reach. So thanks for being in our database over the years.
I hope you have a great week and I'll probably be 10 pounds lighter when I get back from Alabama. Take care.
Buddy, this was really great. Thanks so much for breaking down everything that's happening in the market, introducing us to Ben and sharing what you're doing at Hope Hills Camp.
It's clear you care deeply about both your business and your community. Thanks for being here. Thanks so much for having me.
I appreciate it.
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