Today‘s Real Talk

Today's Real Talk | 09.16.24

Welcome to Today's Real Talk, the ultimate radio show dedicated to all things North Carolina real estate, business, and life! Hosted by the knowledgeable duo, Claudia Ogrizek, Realtor® for Compass, and Justin A. Ckezepis, Real Estate Attorney, Investor, and Broker, this engaging program brings you expert insights, market trends, and valuable advice to help you navigate the dynamic world of real estate.

Broadcast on:: 16 Sep 2024
Audio Format:: other

"I need some real talk, oh, I need some real talk, give me some of that real talk." Today's real talk to show focused on North Carolina real estate, Justin Kazepis, Claudia O'Greezick of Compass Real Estate, coming back for another week, and she's cannot avoid it. She can't avoid it any day because it's real, supply and demand. More or less will there be more or less units active and coming soon on the market this week, 500,000 or less by county, always starting with Mecklenburg County, in Canopie MLS. Do you think there will be more or less this week? I think because we had a huge increase last week, I think it's going to be less. Okay. It was pretty amazing last week, but I think it was too good to be true and it will come down a little. Too good to be true. Yes. Does the market feel that way some days? Too good to be true? No. There's not a day that goes by, you say to yourself, "Man, this market is perfect." Since I started in real estate, I don't think I ever felt it's perfect because it's always, and since I started, it's pretty much great for sellers. I haven't seen the buyers market, not since I became an agent seven years ago, so I haven't seen anything that I'm like because if it's great for my sellers, I know it's not good for my buyers. So I can say that, yes, it's great for sellers, but I haven't seen it's great for buyers. Do you think that it ever will be good for buyers, because I'm trying to figure out a path forward here for buyers? I really am. I feel like every day I'm thinking to myself, "Okay, how can buyers be helped out a little bit in this market right now?" And the answer just is, is compromise and look to the next 10 years and buy somewhere that you have to have a longer-term outlook or are there short-term wins for buyers here? I try to tell my clients to look for, not necessarily 10 years, but four or five, and they should be okay. I believe that they should be okay if they can, again, two years. I always say, if you see yourself in this house for two years to get to the next one, that should be good enough. And I don't think two years is a bad thing, right? No. It's not that long of times as far as we're talking about housing goes. It goes very fast. I have a client right now interested in a, he bought new construction. It's going to be two years in no time. And he's like, "Maybe it's time to go to another one and take advantage of the money I made and already step up and go to a better house." And in my mind, he moved two weeks ago, but it's going to be two years. And he's already making money and he will likely be ready for a better deal and using what he made to put as a down payment. So pretty much keeping the same payment, if not even less, using pure equity. And I just talked to another client of mine this morning. He bought the house three years ago and they might have a job opportunity to move. So he's like, "Can you just run a quick CMA? See how much I would walk away with?" And when I told him, he's like, "You're kidding me." It's pretty nice. Is the rate factoring into that? Because interest rates, at least the word on the street is they're going down a little bit. And anticipation of the meeting of the Fed, which happens this week, by the way, the Fed meeting for, I think there, I could be wrong on this and there's somebody out there that I could probably correct those. First time in four years, a down rate, like literally the first time in four years rates will have been lowered. And please, if we can go back, I'll go back to my Instagram. But even here, I said that, I said just before election, it's going to come down. So do I get money for saying that? Because I did say that. I'm kind of in theory, if the rate goes down, you get to keep more of your money if you buy, get a new loan. It's kind of like, when you see the commercials of buy more to save less, it's kind of like what it feels like, buy a really, really expensive car, buy a really, really expensive furniture and save money. Yeah, I know. I'm trying to find, I got a text earlier during the breakout look for it about the interest rate and the meeting that's coming. So one of my loan officers texted me something I'll check during commercial just to say what he's saying. But he has it. They came down. Apparently they'll come down once again. The other side of the market that doesn't get talked about a lot, most about brokerage community because there's not a lot of money in it, but the rental concept, right? But I'm wondering, and I'm just curious, just literally thinking about this out loud. If the rate comes down, do we see any indication from like, let's say like release renewals on the rental side? Because you wouldn't, you would think in theory, maybe people transitioning then to the purchase side. If they're been renting, if the rates go down, do we see any movement in that? Are you getting less inquiries, same inquiries, more inquiries on the rental side these days or? I don't, again, I do help people that need it today. Someone asked about it, but I'm not because you're not prospecting for people rent because thank goodness I'm pretty busy as is selling and buying, but I, so I wouldn't have the answer. I would be lying if I. Sounds good. How's that? I gave you an answer. Speaking of you, you brought in help to help you with your process and you're so you have an assistant. Yes. Now, we brought it up last week during our conversation with Beacon Street and so however, just checking in with you, person to person, you can tell your feelings to me right now. How are you feeling with having an assistant now? I can't. I don't know what I would be doing without him. I mean, I do know I would be working 12, 14 hours a day. I just thought about it Saturday. There was this tree guy that was doing work for me and he asked me about, you know, being a realtor and he said, oh, do you like what you do? Because I thought about it. And I'm like, I love it, but it's not like it's, it's every day. It's seven. Yes, you could put limits, but if you want to really have like, if you really want to make money and be successful, it's seven days a week, many, many hours a day. And he's like, oh, okay. Maybe I could, I'm just like, I'm not good with numbers at all. I don't understand numbers. I'm like, so you can't do it. How can you help your clients figure out what's the fair offer to make or what is the fair listing price if you're not good with numbers? That's actually the very first thing. In the pre licensing class, there's a lot of people that joke about like the amount of math and they've actually less than the math requirement for licensing in North Carolina. You used to have to fill out a HUD one closing disclosure. I did that. Which honestly, I did that. I had tons of math in my test. I was okay with it, but I don't think this is the math agents need because this is done by the attorney, the loan officer, yes, understanding what's there and at least how to recognize if it's right or wrong, but not like it was, I don't know if it, how it's taught right now. I never necessarily agreed with the date with the way it was taught, but you have to understand numbers. I think a CMA, comparative market analysis to know if the price is fair is way more important than knowing how to fill out a HUD. Maybe that's the reason why they did, but they removed the HUD. So there's no more. Yeah. Yeah. There's no more. So maybe that's the reason why. I don't know. Should I retake the test just for fun? It's more about like identifying concepts. I think that's important. Like when you, you know, take a paragraph and you know, you say, okay, well, the paragraph in word format talked about closing costs and let me look over here at this little chart. No, there's closing costs. So there's certain things like that, but standard got less. So there you go. I didn't know he was out, but yeah, he's like, I would love to, but I, I know I suck at numbers. I'm like, okay, keep cutting trees to something. Well, we get numbers practice every week on more or less, which is going to happen at the very end of the show. Did Compass have a bunch of exclusive listings or anything this week or anything? Yes, I'm showing you on Thursday. Oh, wow. Okay. That's actually happening. And are you happy with your decision? I have two private exclusives going on mine, my listings, and I'm showing one on Thursday. Wow. That big, that pendulum swung real fast on some, some exclusives going on. That's the, it's hard to see it any other way for, for listings in the future, at least for the foreseeable future, more coming up. Stay with us. Today's real talk with Claudia O'Greezick and Justin Cazepas will be back after these messages on 1059, 100.7 WSIC. Today's real talk continues now. Here are your hosts, Claudia O'Greezick and Justin Cazepas on 1059, 100.7 WSIC. Today's real talk, a show focused on North Carolina real estate, Justin Cazepas, Claudia O'Greezick of Compass real estate. So what you got inside information about the amount of bits, the rate's going to move down here this week for the meeting. What's the, what's the hot take? I got a text. Okay. I got a text. Oh, this is what I forgot. It's a reality show. It's my guilty pleasure. I love some really, like the bad ones. Yes. Like, which, like, which, like, whoa, you can just like throw that out and walk away. How bad does it get? Tell the truth. Oh, it's bad. I love 90 day fiancee. Oh, sure. For obvious reasons. Sure. I'm, you know, I'm an immigrant. So I think, of course, it's, have you ever watched it? Oh, yeah. It's ridiculous. And I think it has to, it has to be fake, but I do love watching. They've got the different iterations now. You know, it's like the regular 90 day fiancee, like, the before, the after, the after, the Americans. Oh, you know everything. Do you really want it? Do you want it? Yeah. TLC. You know, they got some options out there. You know. And this one, what did I got a text? I think this is, oh, I forgot Cougar Manor or something to watch them. Oh, yeah. I know somebody else that does, though. Somebody else who does. Yeah, for sure. I got a text. I don't know. But anyway, how many bits is the market moving this week? So according to one of my loan officers, oh, inside information, it, it may, we don't know, but it may come down point 25, okay, which is pretty awesome. A quarter point. Yes. A quarter point. And we are at a round, I would say six point 25, six point one, two, five. So maybe some are saying that rates are kind of baked in at that everyone's anticipating that they will come down this time. If they didn't, it would be a bad thing for the market if they don't move down. Yes. If they move down, depending on how much will indicate how much did the market overshoot under correct, over correct, all of those kinds of things, but we won't know until the meeting and we won't know even the reaction after. It doesn't really matter, though, just does a quarter of a percentage point, do you think open the floodgates and all of a sudden buyers just come up? But I see people getting excited. So not necessarily the way we expect at maybe 5.5, but there are people beginning to move again and text me and kind of. So six, six percent right now, people are kind of saying, okay, I'm interested in having a conversation. Yes, they are. I'm wondering if it's time some have asked me, oh, you think that buying a house, let's say now in the fall, house inventory, should we wait for the spring? So there are people waking up and asking me questions about it. I have people now, actually a few clients that want to invest already, that they were quiet, not in a hurry. I have quite a few of my clients asking and possibly getting ready to buy an investment house at six points, something. Of course, investment goes a little higher, but with the general market at six point ish, investors are also, which is again bad for a regular buyer. Can I ask you about the loan products that you're seeing for those investor buyers or the ones that you're hearing with the actual particular products that you're hearing about at all? Or is it just second home loan? No, it's investment, investment and the, I always forget the order, DS or ARV. DSER. That's servant's coverage ratio. Yes. DS, yes. The one for people that don't know that checks how much rental income you have to qualify you. It's not based on your own income. No. It's purely based on the property, now typically requiring 20% down at least on that. 20% down and a higher interest rate, but yes, I do have some of my clients that want to invest. Are there investments that are cash flowing with those kind of number requirements? It's very hard, of course. You got to have more down payment, I would imagine, it's the only way around that. Yes, but then again, when people say that and at a higher interest rate, what I suggest, and it's not, it's their decision, but then I say aim at the areas that will potentially grow faster in the future, areas that not many people are looking at right now. So yes, areas might not be as pretty or attractive, but in the long term, these, I believe these areas will make a faster, will have a faster growth in terms of market value. So I tell them to come with me and this weekend, someone asked me about Belmont and I'm like, you kind of missed the train? Oh, it's gone. The train's left to track. It's gone, but it's, you know, you have to run very fast to try to, yes, it's the great days of Belmont are gone. You can find a few things. No, not great days of Belmont, but the attractive pricing of Belmont. Yes, yes. Many people found out about it and I have my other places that I'm... Secrets. Secrets. Secrets are no fun. I'm always talking about them here, but yes, some of them I don't tell you or I don't talk about them on the radio. Is that for your own investments? Is that why? Well, that too, and my clients, my actual clients, so yes, some things are discussed in person. Wow, I mean, I'm in the no call friend zone is what that sounds like. No, that's okay. That's okay. I'll remember that later on when more or less when we play that game. You know, if you want to know everything, hire me, and we sit down and then we'll talk. There's some good spots on there. I'm not going to give all the secrets here. You do need a professional that can help you navigate the process, whether you're buying, whether you're selling, whether you're just thinking about the future. How much time are you spending each week talking with people about that like the future, right? Because that's what I imagine a lot of people are so worried about is the future. You spend a lot of time conversating like that with your clients? A lot of time. Monday, today's Monday, I've had, I don't know how many conversations this morning alone already. Yes, which is crazy. You like the psychiatrist? Is that what it is? Yeah, people on the couch. I was at home and I thought I'm going to do so much and I'm going to take care of my and then I was because my clients are waking up. So they started waking up to the market. So I was talking to one nonstop pretty much all morning about investing, people thinking about short-term rental, mid-term rental, like investment, long-term rental. Many investors, as I said, many people trying to invest, some people thinking about listing and getting all the money to downsize and take advantage of the money they're making. So I did not stop and it's just Monday. And are they mostly people from out of state, can you say? Or is it in-state folks too? All here. All local. Yeah, but all local. That's certainly a shift to hear again back that it's the local side of things that are talking more about the, okay, maybe I'm looking at a move because the question has been for years now, moving is fine. Selling a house isn't the problem. Where do you go from here becomes the question? Yeah, but this weekend talking about the conversations I had today, all local people, but this weekend I will be dedicating many hours, Friday, Saturday, and Sunday to out of the country buyers. We are competing with Orlando right now. So they are right now in Orlando and then they arrive in Charlotte Thursday night and they're looking for two houses, a couple and their parents, the guy's parents buying. So they are in Orlando right now. They will come here to make a decision, so I have to impress them. We have three days, three different areas, they've never been to Charlotte, so I am going to set up a few showings at the same time, go to certain restaurants, certain areas and give them a kind of a route so they can visit areas to try to make a decision on. Which city they'll choose and let's say hopefully they'll come here if they're coming. And of course, one day Lake Norman, one day uptown area, downtown, around uptown and one day Valentine and surrounding areas. So you're really going to give them the full spectrum here is what the area is. That's what they want. They said show us and I tried Belmont, but they don't want to, they think it's too far. So they want to be in the areas they heard about. Maybe at the end, I'm like, hey, are you sure you don't want to go to Belmont? So it's Lake Norman, uptown and Valentine. Three very different areas right now. Very different areas, yes. Are you finding though more people because you talk about how far Belmont is. So is uptown the central location for them if they indicated or is it no, they're just okay because they like set the time travel on 77, just sounds better than 85. What's the? These people are actually investors, so they are not going to necessarily work or commute. It's just the everyday life. So I do feel, and I'm not going to talk much about them because of fair housing, but I do feel that their area should be uptown. Based on their needs. Based on what needs and what they're saying, every day because they're going to be working investing from home. So it's about walkability. They want to go to many restaurants. They would like to avoid using a car. You've been in uptown recently? I was there yesterday. Yesterday. Yes. They got a lot of, they got a lot of doors going on in Plaza Midwood. They got a lot of doors going up in notary and Plaza and central. I mean, they got a lot of stuff going on down there. I stopped in the middle road for a train. I said to myself, I don't know if we really want this red line up here, having to stop in the middle roads for trains. We had lunch at Plaza Midwood. We started watching the Panthers lose and then we left and came home to take a nap. Is that what's happening to the entire cities? Is everyone's leaving? The Panthers made it, yes. Kevin said, oh my God, I thought it would be packed and I'm like, why? You know, the word broke just shortly before this show too, if you hadn't heard spoiler that they were bricing or benching Bryce Young, by the way, already the quarterback. So that was breaking news before our show today. Yeah. So there you go. More insight. Would you like Cam to come back? You know, he's enthusiastic, but I just want to win, you know. That's the thing for me. And he went when we would, we got farther with him and also Jake to low couple of, look, we don't need to talk sports right now. That's not the point right now. The point right now is what is going on the market. However, does the Panthers losing bring down the value of our marketplace? Does it feel that way? They say that, don't they? That matters. Like your sports franchises and all those kind of hospitality style things, the quality of life being able to do fun activities. A lot of events go on in our area too. You feel like the conversation is shifting at all in new construction with only 30 seconds left before we go to the break? I'm a little upset with new construction this week. Oh, really? Yes. Yes. I'm not very happy. And I almost feel like I have to shake everyone, the builders, and then maybe go back like right now I'm upset with new construction. Oh, wow. And you don't want to talk about that? We can't. Okay. Good. Because I was going to ask you whether you wanted to or not. I'm also going to ask you more or less. More or less units active coming soon on the market, 500,000 less by county. We're going to find out what she thinks. More of today's real talk with Claudia O'Greezick and Justin Kiseffis is coming up on 1059-100.7 WSIC. We're back with more of today's real talk with Claudia O'Greezick and Justin Kiseffis on 1059-100.7 WSIC. Today's real talk. The show focused on North Carolina real estate. Justin Kiseffis, Claudia O'Greezick of Compass real estate. More or less, we will find out more or less active and coming soon units on the marketplace via canopy MLS. That's the local MLS 500,000 or less as the price point by county, always looking at Mecklenburg starting off. I had a big jump last week. Like you said, don't know if we'll have that same number today. Although I do know the answer already because I've made sure to be prepared to be ready for that. Also, will you have a maintenance Monday for us today? Yes. Well, that's good. Yeah. We're going to need to maintain. Well, it's good that you're bringing awareness, but is it good if it's a situation that you run into? Probably not. No, it's not good for me for sure. Oh, it's not. Do you see this face? By the way, this is my face for the next six months. Do you see this? Not good. Because of the cold? Oh, no. So this is the face you get now until like April, if it's below 75, this is the face you get. This is it. This is the face. That's it. The only thing in the next months, the only thing that keeps me going is knowing that on Christmas Day and New Year's Day and New Year's Eve, I will be in a warm, beautiful place with nose leaves and flip flops. Oh, wow. It's what keeps me. This is an agreement I have with Kevin and I do know, you know, he would like and I think three years ago, we did stay so we could spend Christmas with the whole family. But I need the winter break to go to a warm place again so I can survive until the spring is back. You need to break from winter. Yes. This is how much I dislike cold and by cold, I mean anything under 60. He hates when I say like I'm from a tropical country, which I am, but I am from the south where it's like subtropical, tropical. So it's not that warm. I'm like, it doesn't matter. I still hate cold. So is it becoming like warmer there now, right? Cause it's the opposite. Yes. So it's now going to start coming warm again. Yes. So for me, like my birthday is spring in my mind. I don't like it. Oh, wow. That's got to be wild. And then coming up here and then all of a sudden it wasn't spring anymore. Yes. So for me, my birthday is spring is November 1st, so it's a spring birthday and usually we spend at the beach, not here cause it's getting cold. Not here. For me, Christmas, it's summer. New years you spend at the beach skipping, jumping, whatever the way, the waves to which you make 12 wishes as you jump the waves. Interesting. This is a Brazilian thing. So for me, New Year's Day, you are at the beach skipping waves and making your wishes. Because Eve, it's a family Christmas day, tank tops, shorts, I'll never get you. I spent 40 years of my life in the summer for, for, for, you know, winter break. So now I have an agreement with him. Yes, we stay every now and then. So we can be with the family, but most times I need to regroup and run away from the winter end. I want an uncommon thing even to happen here in, let's say, North Carolina, we'll say snowbirds. That's a concept right where people will have a place, let's say, for the winter time down in Florida and then in the spring, summer, some of the fall, they're up here in North Carolina, houses at a second homes, investment homes, all that. Are you still seeing a market exist for that level, for the retirees, for those looking for North Carolina in our area, particularly? I actually think that many of them are coming and staying here, because especially people from, let's say, New York and Boston up North, they think that our winter is not actual winter. So they, many of them found out that Florida is too warm for them. So they. Too warm. Yes. So in, even in the winter, it's not, let's say, cold enough. So I see many people coming and choosing to stay in North Carolina, South Carolina, because rivers are not as hot as in Florida and winters are not bad, especially compared to what they had in their homes and, and now to make it worse, the weather in Florida, the hurricanes, homeowners insurance going crazy high. So I think more and more and more in North Carolina in our area is getting more attractive to snowbirds as well. I know my in-laws are from New York and they're like, oh, when I'm freezing and I'm like, they're like, oh, this is beautiful. This is not really winter. So they enjoy, and then they enjoy because we do have the four seasons. And when they go to Florida, they miss having the four seasons. Do you miss the cold ever whenever you go somewhere? Never. My plan in life, my goal is in life and I'm not joking, is one day I'll never wear long sleeves again. This is my goal. People want to retire. I don't care. My dream is to never wear long sleeves again. I'm going to go to the supermarket because I do have to wear a jacket every time I go to the supermarket. Why the supermarket? Because I think it's too cold. Oh, because of like the milk aisle and stuff like that? I hate it. Yes. So I always have a jacket. Yes. Interesting. That's funny. I know. So for investment properties, for those looking at second homes for the retirees, how much of the market do you think you're spending time with those who have, let's say, bought in the past second, third, fourth, fifth home now, we'll say, as compared to first time home buyers, are you seeing such a difference in the number in each category? For my clients, I am working more like right now. I have more first time buyers or people upgrading their house. I had many of the retirees, the baby boomers, dates, many of them by a huge coincidence or not for me, 2020, 2021, many of them got in right before the while the rate was as low as it possibly can be. And can now retire into the wind with a two and a half percent interest rate. Yes. So I'm not saying they won't come, but I had many baby boomers retirees in 2020, 2021. I had a few last year. I don't think I had anyone in 2024. It's basically like younger people first time buyers or people upgrading, you know, up sizing their house. And are they looking at the Lake Norman market, are they looking in particular at Charlotte, are they, what's bringing them to look, have they been here for a while? Most of them, what do you think? Or is it a big mix? It's a big mix. In my case, same thing. I have people coming from California, I have quite a few clients coming from California. Maybe I told you maybe because I used to body surf. Oh, there you go. So they have the vibe. That's right. The West Coast vibe. You've got it. So I do have many clients from California and then many local people. In many relocation, people like international clients from all many different countries. Not only, of course, many Brazilians for obvious reasons, but I have from India, Argentina, Chile, many other countries, Netherlands. And I don't want like this deep, methodical conversation we're on right now to lead you to believe that I forgot about your feeling, particularly about new construction right now. And I am interested to hear about what's going on in your world. Okay, how can I say that? I know, especially the major huge builders, nationwide, of course, a lot has to do with one team in a certain neighborhood, of course, being that big, they can't control the quality. But I've had in the past few months some issues and it's under warranty. This is the good thing. I always tell when my clients get upset with and it's different builders, it's not one in particular. Each builder is doing something I always say, at least, you know, it's under warranty. So whatever happens, they will fix nothing costs, you know, it won't cost you anything other than like a headache, but it won't affect your homeowners insurance because it's a claim against the builder, not against your homeowners insurance, but things that should not be happening that are happening. And different neighborhoods, different areas, different builders, which is and the houses that have been inspected because many times you can have the inspection done and you don't see because you need the house needs to be working, right, the water, the electricity turning on, turning off. So some of the things from small, which I consider like pretty unforgivable leaks within the walls to on my way here, one of my clients said, is it okay? And she sent me a video of her like with a bunch of holes in the concrete in the driveway, putting she closed, they closed maybe two months ago and the concrete fancy large house and the concrete is like melting. She's like, is that okay? I'm like, it is not okay. And call them if they say something, call me and I'll, I'll, I'll fight with you for you. Melting concrete sounds like the sun move closer to the planet. So yeah, I don't think that's a good thing. Erosion of and to make it worse, many of the times it was something that we were addressing that I was addressing during construction, say, Hey, this is happening. Fix it now before. Oh, no, it's, it's okay. It's gonna. And it's the problem is there. So I am a little upset. Many different builders is not one builder in particular. And, and some of them are, I would not expect it to happen. Are you as upset as you are with builders with the inventory levels of the marketplace? Yes. Because more or less is up next. Yes. And so you got to decide more or less, more active and coming soon than last week, 500,000 or less. Oh boy, keep it right here. Today's real talk with Claudia O'Greezick and Justin Kazephas will return after this short break on 1059-100.7 WSIC. Call now to speak with Claudia O'Greezick and Justin Kazephas at 844 studio four. It's today's real talk on 1059-100.7 WSIC. Today's real talk, the show focused on North Carolina, real estate, Justin Kazephas, Claudia O'Greezick of Compass Real Estate and the time has come. More or less. Are there more or less active and coming soon units on market via canopy MLS this week as compared to last week at 500,000 or less by county, always looking at Mecklenburg County. Last week we had 2,241, which was a big jump from the previous week. Yes. 1,628. I almost don't believe it. What happened last week? But you're saying this week there are less because it was too good. I love it, but I don't think it, no, I think it's less. Less than 2,000. All right, Claudia says less. And you are correct. Yeah. It is less. It's 1,000. I mean, no, I'm not happy. Yay. Okay. It was a big drop. I'm wondering what's going on with that because there's about 500 unit drop 1,703 is what we've got now 1,703. So it could have been me fat fingering something or something else changed or something. It could be an influx, which we've talked about this in the past. When you've got, let's say, a new construction neighborhood coming on and are all the houses in the MLS are all added at a simultaneous time, certainly something to look at. Also the way that the data is going to shift because of firm exclusive, does that shift the data at all that we're seeing out there as far as in the marketing in the MLS and things that are changing because with the commission concept, it wasn't just commissions and compensation that had to be removed from the MLS. It changed the dynamic of the relationship between the broker, the client, and the way that the market, the property is can be marketed. And so the other piece to that is buyer agency and having agency signed before you go show a property. How has that been for you? No changes other than it takes a little longer to explain, but everyone I've talked to is okay with signing. We do have the, and I can't memorize, but we do have the temporary showing agreement, which is not the full loan buyer agreement. So Compass did that, but I haven't had any setbacks at all. Sometimes they ask me a few extra questions to understand, let's say if a seller is not offering, how do we do it? But other than taking a little longer to explain, people are okay. Okay. So for a seller, then have you had one seen one been involved in a deal, an actual deal, I understand conversation happening, but an actual deal at this point where there was no buyer agency compensation paid by a seller? No. I haven't had any, not as a listing agent, not as a buyer agent. They are okay. Same thing. I had one kind of one to test the market and he did it as a for sale by owner and he quickly learned it was not a good idea. He wouldn't make the money he wanted. He wouldn't. So we had to have the conversation again, because I said, go ahead, test the market, see the kind of response you get. It's your right, of course, and he very quickly learned that people want to be buyers, want to be protected by their agent. And because many are using all their savings and everything they can, it's kind of a natural thing to take the money from the proceeds of the seller. And as I always say, this has always been the way I see it. It's the buyer's paying commission, not the sellers. It's never been that nobody will ever convince me that sellers pay commission, buyer's pay commission, because market value includes commission. It just comes out of the seller side, but it's the buyer paying the price. So the buyer is paying for commission. So you're having a different, again, more theoretical conversation about market value, including these other factors of a deal, including having agency representation in the deal and the cost that comes with that in order to get the transaction complete. And the cost is paid by the buyer. It just comes out of the seller's proceeds, because most of the time in a good market, of course, we're not talking about 2008, but the seller should be making money. And then they have profit to share, but it's a buyer paying the full amount of market value. So the money is actually paid by the buyer. So the theory being that if commissions aren't paid by the seller and the prices remain buyers, we'll continue to not be able to just afford the deal and it will have to adjust and the market will correct. This is something else, since there's no magic. If buyers have to bring the money, the market value will come down because instead of putting all the money on the market value, buyers have to save some money for paying their agents. The expected being supply and demand, so we'll find out how that goes and how it continues. The other thing though, we have to watch and be mindful of as the market continues to go are the maintenance of these homes, because if you're having a house and you've got to maintain it, you mentioned it's getting cold out. Do you have to talk about it? I said Christmas is going to be here before you know it. I've been saying it for a while. I will be in a warm, beautiful place. So I'm happy. I'll be having my Santa will be wearing tan tops. Yes. So unfortunately, the weather is changing and it's time to check your fireplace because I deal, especially a gas fireplace, which is the most people I think would have a gas fireplace nowadays. If you don't, I know that fireplace people say, try to turn it on, like once do you know this, once a month, ideally, even in the summer, turn it on. I know 99% of people don't do it, so now it's time to have it checked for leaks. If you have a chimney, check if there's nothing wrong going on with the chimney. And unless I am absolutely crazy, and I thought about calling Piedmont, and I didn't, sorry, but I'm pretty sure if you have Piedmont gas in your house, they come for free and they check for leaks and for everything. So try Piedmont first. If you have it, I am pretty sure they come and check it for free for leaks, for any danger, for anything. And if not, then you get a chimney guy, but check your chimney, check the systems, make sure everything is flowing the way it's supposed to. So of course, you don't have, you don't want carbon dioxide leaks in your house. Do you have a chimney guy? Do you have a chimney guy? I do have a chimney guy. Of course I have. I have a guy. This is a realtor. If your realtor doesn't have a guy, change realtors. I do have a guy. I have two guys, actually. Two different chimney guys? Two chimney. Yes. In case you need a backup chimney guy? Yes. Of course. Yeah. So the big monarch, whoever gives you, you know, your guests provider to see if they come for free. Okay. And talk about it. If you have a gas fireplace, make sure you have a gas, oh my god, the carbon dioxide plug close to your fireplace either way. The carbon dioxide detector. Yes. Because many houses, the house, especially more modern houses, they come with it on the ceiling. The gas is heavier than air. So in my opinion, you need to have a detector at ground level because when the gas starts accumulating, if you have to wait for the gas to reach the ceiling, you're too late. You're dead. It's too late. So have it one. I always, I have it in my house, one near my stove and because I do have a gas stove and one near the fireplace because again, when the gas starts, and of course I have the ones on the ceiling. I'm not crazy. I'm just careful. Nobody's calling you crazy. You've got to take care of it. You've got to make sure you're doing the right thing. And so fireplaces maintaining your fireplace and maintain your chimney. It is, some people are looking for real wood fireplaces. That's a, that is a real attribute that people look for about. 100%. I have many clients that bag me to find them a wood burning fireplace. Many people, the smell, and I get it, it's, I had it growing up. So of course it's better, the smell, the, the heat you get from a real wood burning fireplace, but it is rare. Even the older homes, which can be retrofitted, I guess. Nowadays, if you have older homes that had a wood burning fireplace, they probably have a gas insert right now and you could basically take it down and have wood again. So it's doable. Even better, though, when you have the gas starters to put real wood on, have you seen those? Yes. Some of the high-end stuff. Do you get right there? It is. Very nice. Can you, are you a fireplace kind of guy? I'm an outdoor fireplace guy inside. I'm a polar bear. So I want, I want it to be 30 degrees and I want to be wearing shorts. That's pretty much it. For me. Why? Because I like the cold. I prefer the cold. My body prefers the cold is really what it is. I have no choice in the matter. No. Okay. Yeah. No, not for me. In the winter, not, I don't like cold, but I do want the house to be on the cooler side. Sure. I don't get the thing of like having the heat on and t-shirts on. You like to be cold. I don't like being cold, but at the same time, if it's cold outside, I do want to be wearing like sweatpants and sweatshirts inside the house. I don't want not to know. You want your clothes inside to match the vibe outside? Not as much, yeah, not as much, of course, but I want to be cold at home because then I remember how horrible it is outside. I don't like the same way in the summer. I don't like a super cold house because if it's 95 degrees outside, I don't want to be cold inside the house because I have to remember it's beautiful and warm outside. You know, preferred air temperature is not a protected class. So technically you could discriminate against somebody who prefers cold. Mine is in the summer 75. 75? Yes. Gosh. Kevin doesn't like it, but if it's... To sleep 68, but during the day when I'm in the office, 75. Oh, no, 70 during the day, 68 to 99. Oh, yeah. 68, okay. Yeah. At night, yeah. I like it cold in the room, so then you put the... I'm giving you too much information. In the winter, what's the heat if you have the heat on? Probably like 67. Okay. Somewhere in that, right? 66, something like that, yeah. 66, 66, 66. Yeah. You know what I mean? I mean either. Yeah. But yeah, check your gas provider if they come to your house and check your fireplace for free. If not, get your chimney guy, and if you don't have a guy, send me a message and I'll get your right guy. God, he's got a guy. I got a guy. That's right. Yes. Another week of analyzing what's going on in the marketplace. Jessica Zepes, Claudia O'Gresick of Compass Real Estate, you've been listening to today's real talk. If you miss any show, know that they are available on demand, wherever it is you get your podcasts, wherever it is you watch your videos, and of course, the WSIC News app. We'll be back next week. We're going to talk more and more or less. We're going to find out it has the market shifted, maybe it jumps back up because of all these interest rate conversation. Will the rates lower this week? We'll find out. We'll see how the market reacts to it. We'll get your take. If you ever want to drop a line, you're welcome to do that. Otherwise, we'll see you next week. [MUSIC PLAYING] [BLANK_AUDIO]