The Jon Sanchez Show
7/25 - A real estate purchase is an emotional event
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That's right. That's right, exactly, exactly. Well, it's so great to be with you guys. Miss you so much on Tuesday. Missed all of you. Man, I can't stand not doing the show. It just drives me nuts, and I can't do it. Oh, but it's behind us. Hopefully, the voice holds up for the rest of the hour. I'm going to have you guys do a lot of the talking tonight, just so I can ensure that I can make it through, but we'll make it happen. We'll make it happen. All right, boys. Well, once again, great to be with you, and let me tell you what we have on the agenda for you this evening. We're going to talk about emotions. Oh, yes. Emotions. Buying your first home specifically, we all know it is a significant personal and a financial milestone, right? You feel like you kind of made it when you finally get to buy your first home. No more pain rent, get to start building your own equity, et cetera. However, and this is a big, however, doing so kind of course, of course, evoking wide, wide range of emotions that you may not have contemplated, because again, you're a first-time buyer. You've never been through this before. Well, what we're going to do tonight is we're going to review what we feel are even the most common emotions you may want to overcome. And you know, guys, when I was thinking of this topic this morning, putting all the notes and everything together, I thought back, not only, you know, as a first-time buyer, did I have all kinds of emotions that we're going to discuss tonight, but I think every real estate transaction that I have done, I have fallen into the trap of all eight of these emotions and probably more. So I don't know if I was correct saying, you know, for first-time buyers, but Corey, I want to just real quickly, before I get to the stock market, you buy and sell real estate at each and every day. Do you get any of these emotions like we're going to discuss, like excitement and joy and uncertainty? Do you still get that in all the years you've been doing this when you got personal? Yeah, I think it comes with it. I think it comes with there. I mean, clearly on the personal property, especially the ones that we buy from my family and I that we move into, but even from my clients, too, I mean, it's, it's, they become a part of your life for 30 days, 60 days, sometimes six years. It depends how long it takes them to find out. So you go through the anxiety and the excitement and the stress and the this and that and the other. And so, yeah, it's interesting because you'll get all these emotions and you may get them all in one day, you know, so it's really a whirlwind, depending on what the situation is for sure. Yeah, yeah, absolutely right. You may get them all in one day. You're so correct. Dwight, how about you? Well, I thought maybe we should have had our wives do the show, but that's for sure. I don't know how you don't go through it, right? I mean, then you're just not, you're not alive too. But it also depends on who you're buying the house with. You know, I mean, those emotions, you know, can be a little more extreme in one category versus another. I mean, if you're buying it with, you know, a girlfriend or a boyfriend or, you know, a business partner, things like that can drive some of that too, you know, because, I mean, if you got a business partner that just has, you know, dive bomb and everything, you know, that's like, there's more anxiety, you know. So I think it, but I think overall, I think it, you know, it's a great topic because we all go through it, you know, you can look at these and goes, gosh, I kind of go through that in the used car, but right now, but they are very much extreme because it is the largest purchase of your life, you know, lifetime. It does, it does, that does tend to accentuate that. That's for sure. Yeah, there's a lot of, a lot of emotions involved in that. So I think it's going to be a really fun topic. And again, this may apply definitely to those of you that are first time buyers, but, but again, even, even those of you, again, like myself, where you, you know, multiple properties you've owned. Yeah, you seem to go through it all the time. And the main point that we want to get across tonight is, again, I think you will agree, all of you will agree with us that you've gone through these emotions in your real estate acquisition or sale. But the key is, especially for those of you that are first time buyers, the key, however, is as the old saying goes, keep your emotions in check, right? That's what a great realtor like Corey is going to do a great lender like Dwight. They're going to, they're going to help you eliminate the peaks and the valleys of the emotions, right? You're going to try to keep them just nice and straight because Corey, this is one thing that you're so good at. You're such an even keel guy. You don't get excited about, you know, things in one extreme or the other. And I think that's, again, one of your many secrets to success. Don't you agree? Sure. Yeah. Sometimes people will say it's a negative, though, no, but, you're absolutely right. I mean, it comes into play on pretty much every deal I was talking to somebody just a couple of weeks ago, we were negotiating a deal in the other age, and this was telling me how much they loved my client's house and this and that and what they were going to do, blah, blah, blah. So I called my client and I get these people are in there and not back out, they are completely emotionally tied to this property. So whatever you want, you're going to get. And that's exactly how it worked out. Love it. Love it. Excellent job. Excellent job. Well, again, we're all big boys and girls, but we're still human beings and just like the stock market, right? You got to, you got to make sure that you have an even keel. That's what we get paid to do to make sure that our clients aren't getting too over, over, you know, too involved in the emotions on the upside or on the downside. And that's what you pay a professional in your life to do. So we will get to that momentarily. Let's go back to the stock market side, guys. You know, how have we done this show last night? It was a tough day yesterday and we need to go back to yesterday to kind of build up to today. So yesterday is one of those days where it kind of all came together from a negative standpoint. It started off with an earnings miss from Google and an earnings miss from Tesla yesterday. Again, I'm talking about, you know, Google finished down about $9 and 23 cents, 5% Tesla lost $30 and 39 cents, 12.3%. And that just started the cascading effective. Once again, we, one of these days where everyone threw in the talent technology, nobody's going to make any money in tech. You know, we got this rotation going on into small caps and from growth to value. And every reason you can imagine. So today was a very critical day to see if we could subside on the selling side of it and find some buyers, see if we can see a little bit of a bottom. Well, we had it earlier today, even mid session, we had it. Unfortunately got a little bit of selling going into the clothes and it looked worse than it really was intraday. We finished up 81 on the Dow lost 161 on the NASDAQ and a 28 point give up on the S&P 500, which I'll go into more details later. But, you know, again, it could have been real worse by all means. We didn't see, we saw a little bit of nibbling on some of the big tech names that again got beat up so bad yesterday. Apple only lost 63 cents. Tesla was up $4.36. Another big one, of course, that, that just got beat to heck yesterday was Microsoft. They still continue to sell off a bit, lost $10.75. So it doesn't look like the selling is done at this particular time. But I think it's coming to an end. And like we've said, you know, we kind of predicted this when this rotation started. I told you guys, don't be surprised if you see somewhere around a 5 to 10% correction. We haven't had a 5% correction in years, literally on the S&P 500. And now we have. And so, excuse me, I'm the NASDAQ side. And now we have. And so again, what I would be doing if I were all of you is what we're doing. And that is looking at your positions, making sure you're in the right areas and looking at this as a buying opportunity. Because I'm telling you, we're going to see that we told you this at the beginning of the year, with this being an election year. This is going to be a really, really volatile time period between now and the election and probably the end of the year. Obviously, we have the Feds interest rate situation. But of course, we have now, we know who, you know, it's not official on Kamala Harris, but we know she's going to get the the nod. And you know, her and Trump are already throwing barbs and criticizing and calling each other names and all kinds of things. So that creates, you know, market apprehension among investors. And so it's just going to be the world that we're going to live in between now and the end of the year. And then then we'll see. But I think again, the saving grace should be. We get that Feds interest rate cut in September. Everyone still has that priced in. And Dwight, I don't know if you've heard this or Corey, there's now some predictions coming out calling for an additional two interest rate cuts this year based upon, you know, various happenings that we've seen after the September cut. Have you seen that also, Dwight? I have not, John, but I have seen lots of talk about tooth for sure this year. So they would have to those sneak that in, John. I don't think there's an October, so they have to sneak that in November and December if they wanted to do three. So I don't know if they'll do three in a row, but that would be unprecedented. Like, yes, you know, there, you know, for them to just start doing that. It finishes year three and but now I haven't seen that, but I, you know, nothing surprises me anymore, John. So, you know, maybe, maybe there are, but, you know, but everything I am saying, and I don't know if you're saying anything, it just seems like it's going to be a quarter quarter quarter till they get where they get. Yes. Yes. Yes. That's exactly right. Yeah. Quarter quarter at a time. No doubt about that. Yeah. And, you know, frankly, I don't think we want any more of that. Just agree, Corey, you get more than a quarter percent. I'll say you got a half a percent. People are going to read a lot into that go. Oh, there's some bad things going on. And, you know, people are going to be freaking out on that side of it. Yeah. I think it depends on if they did decide to get off of the quarter. It would depend on how much forewarning he gave the market. If he just came out at a meeting and they announced a post meeting, yeah, that would be a little scary. But if he telegraphed it one or two months ahead of time, there was a lot of talk today, John. I'm sure you saw it about July being a live meeting. Yeah. That's good. If he comes in, we're in tomorrow. There's no reason for them not to cut if they're really data dependent on them. Well, but a lot of people are talking about it. No, that's a great point to bring up, Corey. And then to counteract that, again, to confuse things, we got a much hotter than expected first read on Q2 GDP this morning. This was, again, the first read. You get three of them. Remember, they're spaced out a couple weeks apart. And this one came in as a big surprise showing the economy growing at any rate of 2.8 percent. Economists were only looking for 2 percent. Our prior read in the first quarter was only a 1.4 percent growth rate, right? So, hey, that was great. The economy slowing down. That's favorable for an interest rate cut. Now you jump up 2.8 percent. I mean, come on. That's a significant, significant move in one month. And so, again, this is the first read. We'll see if the final two bring this number down. But to counteract exactly what you said, Corey, if this number holds steady, that's going to be a tough case for the Fed to cut rates this month. So, yeah, we will see. And speaking of the calendar, if everyone kind of wants to jot this down, our next Fed meetings, I'll just give you the final day. It's always a two-day meeting. We'll have a decision on July 31st. We'll have one on September 18th, and Dwight's actually correct or absolutely correct. Nothing in October, November. It's going to be on November the 7th. And so, remember, November 7th wins the election day, November 5th. So, the Fed will be meeting November 6th and 7th. So, obviously, the day right after, and then the decision two days after the election. And then, of course, to wrap things up for the year, they'll be on July 18th, will be the Fed interest rate decision. So, yeah, it's going to be a fun ride, guys. There's no doubt about it. No doubt about it. But we will see what happens in this market. We'll continue to move on every headline that seems like at this point. Market's very, very sensitive to things right now. All right. When we come back, we'll hit the commodity side and then get into our topic tonight. Buying your first home, how to keep your emotions in check. But first, let's turn it over to the wonderful Kristin Snow, who has right now traffic ready to go. Hey, Kristin. Welcome back to the John Sanchez Show and Newstalk 780KOH with Dwight Mallard of Gil Mortgage. Courage of Idrility. Once again, we finished with a gain of 81 on the Dow down 161 on the NASDAQ and a 28-point give up on the S&B 500. Well, before we get to the commodity and the interest rate side of things, I want to give you a quick reminder, my dear friends over at S&W track here, Stan Cobus and the whole crew, wanted me to let you know they've got incredible financing going on right now on certain models. You have to take advantage of it. You know, one great thing about, you know, Stan's been a close friend of mine and I've done business with him for, gosh, what has it been? 10, 12 years. You know, not only do they have an incredible product that will last you for years and again, save you so much time and back-breaking work, you're actually enjoying the drudgery of many things that you just have to do with a rake and shovel, right? You get on a great Coyote tractor, small ones, big ones, everything in between and let the tractor do the work. Incredible financing, but most importantly, a dealer that cares about you. They've been in this community for over 30 years. They're going to be here for at least another 30 years, if not more. They'll stand behind their sale, the service, everything. They do it all at S&W Attractor. Give them a call at 882-1225. That's 882-1225, located at 4880 East Nine Lane in Carson City and online at S&W Attractor.com. All right, boys, let's get down to the commodity side of things today. We've had a little bit of an uptick in oil prices, still below the 80 mark though, up 9/10, 7827 a barrel. Tough, tough day on gold, numerous factors which I won't bore you with. But gold just got smacked around today. 62-dollar and 20-cent loss, 2,353-3.60 per ounce and we move things over to your world. Mr. Mallard, a three-basis point decrease on the 10-year out of yield close, a 4.26 percent. Tell us what happened on the motor side. Yeah, so, you know, John, we've been sitting around, according to Morgan's News Daily, right around the 6.8, 6.87. They've got it clocked in at 6.91 today. So, and I've gone back and looked at it. That's pretty accurate. You know, what was surprising is the mortgage-backed securities actually did fairly well. But there's just a lot of uncertainty, which you've always said is not good, you know? So, I mean, if you've got a good day where you could have an opportunity to lower rates, they just don't lower like they do, then they go up. You know, it's just a world, right? I mean, you know, they're so quick to protect themselves and so slow to give any, you know, but that's just the world. You know, they're just, it moves so fast. So, but I anticipate if you open up tomorrow and things are pretty good and the mortgage-backed securities, you'll probably see a little relief tomorrow. So, if you're looking at locked in, or you're in that spot, but, you know, you are starting to see, John, I want to see, you are starting to see a little, little bit of refiactivity. You know, so that's, that's interesting. I think we're still about a point away for that to really kick in. But, yeah, you are starting to see a little bit because of the all the equity we've talked about on this show being available. Yes. Yes. Yeah. Yeah. Yeah. Cool. Well, I think, again, is the economy softens a bit, which is what the Fed wants? People want to get their hands on some money, right? Now, here was interesting, you know, I'll kind of feed into what you're saying, Dwight. We had durable goods checking today. So, if you don't know what durable goods are with this report, this is where they look at any big ticket item with a life expectancy greater than three years. So, it's a manufacturing type report. I mean, automobiles, washing machines, jet airplanes, I mean, it's all thrown in the mix. And, I fell out of my chair this morning when I reported on this at 5.30 this morning, showed durable goods decreasing for the month. Now, this is the preliminary report final in a couple of weeks. But, I fell out of my chair when I saw this number showed a decrease of 6.6 percent in durable goods. I, oh my God, that's disastrous. That means a consumer is really not doing anything. Well, if you, again, peel the layers of the onion back, as I like to say, it was all related to airlines. It was all, again, specifically Boeing. If you strip out what's called non-defense orders, then it actually upticked about 1%. So, that made everybody feel a little bit better. But, that was a big drop. And, we haven't seen this, this big drop dating back to April of 2020, so pre-pandemic. We talked about the first read on GDP, again, came in much hotter than expected, up 2.8 percent versus expectation of 2 percent. And, speaking of the labor front, our initial claims for the week down 10,000 filings to 235,000 people. So, still a very low historical number. And, continuing claims following 9,000 people, collecting the unemployment benefit ongoing, bringing that number to 1,851,000. So, you know, again, we're seeing some signs of the consumer slowing, and then all of a sudden, out of the blue, you get this hotter than expected GDP numbers. So, Corey, back to your point, I think you nailed it tomorrow as PCE number is going to be very important. Remember, folks, PCE, the personal consumption expenditure, that is the Fed's favorite measure of inflation. Much, they like that. I think it's more accurate. They're looking at CPI or looking at PPI. The predictions are as follows. Remember, last month, we got a big goose egg, or excuse me, the month of May. Could we get June's numbers tomorrow? But, we got a big goose egg in the month of May. It was unchanged. We're surprised, everybody. Tomorrow, they're looking for this number to bump up a little bit, about 1/10 of a percent. I personally think it's going to come in a little bit hotter than that, based upon what I'm seeing. And then, we also have a personal income. The month of May, a personal income went up a half a percent for the month. They're looking for a 4/10 of a percent increase tomorrow. And then, personal spending was up 2/10 last month or a month of May. And now, they're looking for it to bump up about 3/10. So, nothing crazy on the consumer side. But, I think this inflationary side is going to be a little bit hotter than what everybody looked for. So, it could be an interesting day tomorrow, do I, in the bond market specifically? All right. So, you're saying that that core PCE is hotter than, you're saying what little hotter than 1 percent, the 0.1 percent, is that what you're thinking about? Yes, exactly. And that means that inflation is still out there. Yeah, it's still out there. So, that probably would then put the breaks on any, like, quarter side about anything in July, right? July. Yeah, that's right. Yeah, that would just put the breaks on for sure. Exactly. So, if you had that strong number, and then, again, today's first read on GDP, again, 2.8 versus 2 percent. I mean, that's a huge miss there. Yeah. And then, the Fed's going to have a real hard time looking at themselves in the mirror and going, "It's time for a rate cut." You know, they, this may even postpone the September meeting. If you get, you know, PCE is hot, and then you have the advanced read on GDP. If it's hot, yeah, Fed may go, "Hey, you know what, we're going to, we're going to bump things up another couple months or so." So, yeah, every day, you know, you just never know what these reports are going to come in. Or at least you get a buy month for August, right? I mean, if they don't do anything, that gives them at least a little longer time before they're, you know, they've got to jump back in on, I think it's September 18th or something. So, it gives them another 45 days to look at stuff. That's right. So, that probably makes the most sense. I think that's what Wall Street's kind of hoping. I don't think what they would surprise everywhere at that quarter point. And prove that, I guess. Yeah, no, it's just don't go the other way, right? Just don't go the other way, don't. Yeah. So, we have off months in August and off months in in October. So, yeah, well, we'll see. Alrighty, boys, let's take this break. When we come back, we're going to get right into our topic tonight, which is, you know what, buying your first home, your second, your third home, whatever it may be, significant milestone, especially for the first time buyer. But again, a wide range of emotions will surface. And tonight, where we're going to do is we're going to break down eight of the key emotions that people go through when they're buying their home. And again, the goal is try to keep even keel, not too many highs, not too many lows, because it can just drive you nuts. And you'll find out why when we get back and go into this great topic, let's turn it over to Kristin Snow. She has news traffic and weather. Hey, Kristin. Welcome back to the John Sanchez Show, a new stock 780K awaits with a core edge of edge. Realty Dwight Mallard of Guild Mortgage. Once again, an 81 point game on the dial, lost 161 on the NASDAQ, and a pullback of 28 on the S&P 500. Alright, how to keep your emotions in check when you're dealing with real estate? So we put together a list of about eight of the most common emotional traits that anybody goes through. And again, I kind of targeted first-time home buyers, but I think that was a mistake on my part. I think we can broaden that to anybody. And as Corey said, even professionals and the emotions that we all go through. So, Corey, without further ado, let's get down to the first one. Then Dwight will come over to you the second and just kind of bebop back and forth. Corey, let's talk about the excitement, right? We all know this. You've emphasized so many times, you know, people walk in, they immediately begin to visualize. Oh, I can see the Christmas tree in this corner and little Johnny's pumpkin at Halloween over on this counter and that type of thing. We've got this anticipation that we're starting this brand new life. Maybe you're getting out of an apartment or a small house, moving it to the next one. Hey, it's a brand new chapter. I'm envisioning what my new life's going to be like. Take it from there. Absolutely. And I think the excitement starts. And Dwight can speak to this when they, you know, you get a little nervous, even knowing if you can qualify for a loan. So you can be like, Dwight, I said, oh, yeah, you know, I'll give a $1,000 event. Oh, so whoa. And that's when the excitement really hits. And then, of course, you start looking at houses, some of them are excited about some of them. You're not eventually told us to everybody, you know, you look long enough, you're going to find the house that fits exactly what you need. It may take a little longer. Sometimes it does. Sometimes it doesn't. But you can tell when people's eyes light up, John. And like Dwight said, you know, we could have all had our wives on to talk about these different levels. And I can always tell walking through a house. And you've mentioned on the show before when the wife sits down on the couch and they start kind of looking around and, you know, envisioning, you know, what they're going to do with it. Then you can tell that there's some emotional attachment starting to happen. What about the achievement, right? We talk a lot about this. I have not experienced this myself. I never in my first real estate that I bought or even others, I never felt like, oh my God, I've reached a, you know, a financial pinnacle or milestone in my life. But I read stories and after stories that people, and especially those that come from a very modest upbringing. A lot of times we see it with Hispanics, you know, they come to this country, been here, got their, you know, citizenship, et cetera. And that dream of home ownership is like, I finally made it. Talk to us about the financial achievement side, Corey. Yeah. And I think it, I think you're spot on with for some people setting for a down payment or doing different things come easier than for others. But I've had clients before where, you know, they've spent 5, 6, 7, 8, 10 years of their life collecting the money, putting it in the jars, putting it in the bank, putting it wherever they have to do it because the whole goal, their one goal was to get to the point where they can own something and, you know, various reasons, right? Like when the economy we have never was going to work two jobs and kids are expensive and all these things, but they just chip away, chip away, chip away. So when the day finally comes, break it hand at the keys and your name's on the beat. There's excitement, but there's also a deep sense of, of achievement that you've achieved that goal. Yes. Looking forward. Right. Right. Exactly. Okay. Very good. All right. Do I, let's go on to the second emotion and when buying real estate anxiety. Let's talk about the financial stress, right? As Corey just said, we're worried about getting pre-qualified or worried about getting qualified. How am I financially going to come up with a down payment that I just told Dwight, I can come up with so on and so forth. Explain that one. Yeah. And how do we limit anxiety to real estate, right? But I mean, that's right. Right. But, you know, but when, you know, I see it a lot, especially with the younger, uh, the younger buyers, you know, because they're, they're, they're looking out so far about their job, you know, my credit score. Things you didn't really pay attention to, you know, as you were going through high school and college, you know, but then it all really starts to come in and you're going, okay, wait a minute, can I make that, you know, you start thinking of things, you let your mind kind of start taking over. Well, what if I get transferred, or if I lose my job? So they start looking too far out, but once you bring them back into, hey, listen, just be present in this moment right now. Great. And you love the house. Yeah. You love what you're, you're, you're buying. It's a, as Corey always says, you know, you're, you're, you're buying a home, you need shelter, anyhow. So I think, you know, that's what I try to do is just kind of keep them, you know, let them, you know, fear is lack of faith, right? So just trust what you're, you know, you're feeling and doing. And then the decision pressure is the, you know, did I make the right choice? Did I buy the right one? And you know, usually at the end of the day, John, everybody feels pretty comfortable with the decision they made, you know, so you can worry about that till you, uh, you know, I'm sure, sure my mom bless her heart fell in this category all the time. But, you know, it just, it's one of those things they think you just trust, trust your feelings, trust, you know, you and your team, trust your team. Yeah. Yeah. For sure. And, and I think that will, that will kind of put that, you know, to rest and you'll feel better about, but then typically Corey knows this once you close, because he's seeing all these buyers, once you close, you're ecstatic and that anxiety kind of goes away for a little bit. Now I'm not saying it didn't come back, but it goes away and you feel really good. So, yeah, you know, I was thinking about this, uh, on this decision pressure, uh, point, um, about buyers remorse, right? Uh, the way that my brain works and I, I've, you know, six years old, I think I'm finally starting to figure myself out. Um, and that is when I make a major purchase of something real estate or anything, I know that when I wake up, so let's say I, I give a, you know, uh, Corey, somebody to open escrow on a property and finally wake up the next day and I'm like, man, I, I am so excited to get this property and, you know, I start going through all the, all the other emotions. Then I know I've made the right decision, but if I wake up that next day after giving Corey the deposit and go, Oh, okay. I got pressure in this house. My wife talked me into it. I really don't want it or whatever their logic is. That's when I know I've made a bad decision and I start really going through all of the emotions. So, I don't know how your guys' brains work, but with me, it's like the next day, if I'm excited, right decision. Next day, if I'm going, uh, oh, then I probably made the wrong decision. Well, I think too, John, if you feel like you're forcing it really, if you feel like you're forcing it probably not, you know, Corey's really, really good about that. Don't force your way into this. So let it come naturally, you know, if you're wanting to spend 450,000, there's one out there eventually that you'll know more. So yeah, I love that point because if it doesn't feel right, you know, maybe then you just, you know, have a little cut, you know, come to Jesus yourself and get out. Absolutely. Yeah. All right, Corey, our 30 motion is feeling overwhelmed. Oh man, this one is so easy. So we've got two issues on this one. We got the complexity of the real estate process, right? You're feeling swamped by the paperwork, uh, all the legalities. Corey's showing you the contract. Oh, I showed you the contract and all the steps involved. And then we get information overload. So explain how this works and how we overcome being overwhelmed. Yeah. And really, it depends on, you know, the person and kind of, you know, some people get overwhelmed just because that's by nature, their personality. That's just how they are. But in a real estate transaction, especially in a just a regular house buying or showing transaction, most of that complexity and most of that overload should be taken on by your agent. You know, I'm not going to sit down with the first time homebuyer and start spouting off different real estate. It's just completely uncomfortable for everybody. So there may be a little bit of complexity. Obviously, you got to go through the loan qualifying and get to write all your stuff and people get overwhelmed with that. But but by and far, the biggest thing I see with clients is there's a, you know, some of that contract fund is a level of commitment, right? It's just like, right after you proposed and she said, yes, you're like, yes, exactly. And so then they start thinking about a decision that I'm doing this for that. But you're going to have some big decisions. You go through inspections. I'm doing this on multiple properties right now where we come up with bad inspection reports. So some buyers, you know, they have to make decisions. And I don't make those decisions formal and give them the information. But but ultimately, I can't make that decision. So those kinds of things, I think, get overwhelming sometimes. But hopefully the transaction itself in the process isn't overwhelming because the agent and the mortgage broker should be taken out of the majority of that for you. Right. Exactly. And I think you bring up an excellent point back to what I said to Dwight, you know, trust your team, right? If if you're, if you're agent and I'm sure you see this, Corey and Dwight, if your agent is like, hey, you know what, here's here's the contract, take it home, read it over or whatever. I mean, I know so much is done digitally now. That's not a good agent. But if an agent says, okay, here it is, look it over and let's sit down and go over any questions that you may have. I mean, that's what you did with my son. And it was beautiful. You know, that was his first home. And he felt so confident in that whole scenario there. But there is, if you get your agent, just like your stock broker, your financial advisor, if you get your professional that is throwing industry jargon at you so that they can make themselves sound smart and so on and so forth, go the other direction, right? Any of us, all three of us could sit here and overwhelm all of you with our specific real estate, financial market, mortgage jargon. What does it do? Feeds our ego? No, it's not the right thing for you, the client, which is all we care about. And so, you know, a good agent is going to make things simple, right? Corey, you're, you do a great job, Dwight, you do a great job. Taking a very complex process, the mortgage side of it, the acquisition side and say, okay, now here's all the legal mumble jumble, but here's what it really means. And I found when I do that with my clients, you see this, this, you know, wave of stress go off their forehead. It's like, oh, now I get it. Now I understand. Now the questions start happening. So, you know, that's, that's my two cents on feeling overwhelmed. Rely upon your professional. And if you got good professionals, then, you know, they're going to make this thing not feel overwhelmed. Now, Dwight, I do have to give a little, I want to do a little asterisk real quickly on this before we go to break. You probably have a hell of a lot more paperwork to that your clients have to go through than Corey does. You, you know, again, it's not you. It's not guild mortgage. It's the industry. Here's your, you know, here's the things I need. You've covered a million times. I need these banks, these tax returns. I need this, this and this. That part can be overwhelming. What is your secret to success when when you hand this list to people? How do you help them overcome that, that feeling to overwhelm this just on the mortgage side? Because there is a lot. Yeah. Well, John, exactly what you said, keep it simple, right? And explain the highlights, everything else in your loan documents or attorneys over years that have, you know, so you highlight the big stuff and kind of just keep it simple and get and set up the expectation. You're going to sign 67 pages, you know, and, and you're going to get a copy of them. But the big things you want to look at, the deed of trust and note, those type of thing is what I try to settle them down because it can be overwhelming. I mean, it's, it is overwhelming, you know, and even for me. So I just kind of keep them in a good place, you know, just, just know you're getting it. If you want to read anything or see anything and I try to get it out to them ahead of time, you know, the ones that really, really want to look, you want to get it out to them so they can just look at what it's going to be. But there have been people and Cory's sat down with them too that read the whole thing. Oh yeah. I don't begrudge you, but it takes it takes an hour, hour and 15 minute appointment to about a three hour, but it's okay. It's okay. There's out those out there that want to know. Yeah, but I just try to set real realistic expectations of what what you're going to be looking at. All right, we'll come back with our fourth point. So we got a host of boys and we're going to start off with joy. That's right. We go through an emotion of joy when we buy a piece of real estate. Speaking of joy, she is joyous all the time. Kristin Stone, wrap us up in the right now traffic center. Welcome back to the John Sanchez Show, a new stock 780K. Hey boys, I told you, my voice made it. I'm so proud. I made it. Cory had your phone number, please. 673 6700. Mr. Millard. 2402022. Excellent. Thank you, boys. All right. We're talking about the emotions that are involved in real estate. So we talked about excitement, anxiety, feeling overwhelmed. Cory, take us on that number four, the joy, right? The joy that we experience when we finally get to the keys to that house, the happiness of once again, imagining so important in the sales process, imagining, you know, how I'm going to decorate this. I love the term you used earlier, the nesting that the wife feels, the security of knowing you have a place that's finally my own. I'm not going to get that call from the landlord saying, Hey, I'm bumping up your rent from 2000 or 2500. Yeah. And I think it all kind of culminates right there at the end because people go out and go, I'd always tell them, don't buy anything until, you know, after we've fun the loan, because at the point, I got to create it again, but they'll go out and they'll plan and they'll look at bedroom sets and they'll look at new kitchen hats and kind of all of these things. And finally, when it all comes together, because the most stressful part is right at the end. The loan docs, you're not going to sign this stuff. We've got to do a final walk too. We've got to do all these things. So kind of combing. They tried at the end. And when all that's behind you. And the deed has been signed and everything has been recorded. The loan is funded. And there is that sense of joy. I mean, if you can find me, you can find me. Exhale. Know that it's over. Know that all the time that can come to reality. And then pen it's yours. Like it says security, you know, the comfort of knowing that now it's yours. Nobody can take it away from me. You just got to make sure you pay for it. Make the mortgage, make the tax payments in your good shape. Quickly, do you want to add that one? Because I want to come back to core in number five. Now, I would just say I have a rule of thumb on joy. Do not let anyone or anything rob you of that moment. You know, just, just, you know, it's your moment and no way should be able to take it away and just enjoy it. There you go. Love that advice. Cori, let's stick with you. Number five, the uncertainty, right? Oh, oh, I've got some personal doubts. I've got doubts about property values, whether it was the right time. Maybe I should have waited. And then, oh, by the way, I've got concerns about potential issues with a home that may arise, right, in that maintenance and repairs category. How do we overcome uncertainty? I think it's just human nature at any time you make, to your point, when you make a huge big decision, and you sign your name on the dotted line, because everything looks right, then all the bad things start coming in. Then you start thinking about all the things that could go wrong. And it's a constant battle. Even after you close escrow, it's still that constant battle of keeping out all those negative potential negative things, and understanding that ultimately you did make the right decision. And it's a time frame, right? If you're buying a place and you're going to be there for 10 years, and it's easy for me to say, but you don't have to worry about any of this. The market's going to go up. It's going to go down. It's going to go all over the place. But it doesn't matter to you because you're not, you're not going anywhere. So I always tell people and nobody ever listens to me as soon as you buy it, delete, because it doesn't matter what it's worth. Right. There you go. That's great advice, great advice. Number six, the relief, that's pretty self-explanatory. But Dwight, I want you to wrap us up. You're in a pretty emotional mood, and I can sense it. Let's talk about the nostalgia. I can feel it. Talk about nostalgia real quick. You're kind of leaving. Yeah, that's exactly a minute. It's a new future. It's going to be a family potentially in-laws. It's going to be all sorts of things. You're just going to make a whole new life, new chapters. I always say life is in chapters, right? So you don't know how long each chapter will be. And so just a great way to get things started, especially newlyweds and things like that. Absolutely. Yeah, enjoy the moment. I love your advice. Live in the moment. Live in the moment. And I love Corey's advice. What is it, Corey? Don't worry about things you can't control, right? You can drive yourself nuts. Yeah. And our eighth point was empowerment. We kind of touched on that one. Go, is that Corey? I said, don't stress it. All right. Sorry, boys. There you go. God bless us here. We're ready tomorrow. Hello. It is Ryan, and we could all use an extra bright spot in our day, couldn't we? Just to make up for things like sitting in traffic, doing the dishes, counting your steps, you know, all the mundane stuff. That is why I'm such a big fan of Chumba Casino. Chumba Casino has all your favorite social casino style games that you can play for free anytime, anywhere with daily bonuses. So sign up now at Chumba Casino dot com. That's Chumba Casino dot com sponsored by Chumba Casino. No purchase necessary, VGW Group, void where prohibited by law, 18 plus terms and conditions apply.