The Jon Sanchez Show

10/22-What to do with your home when you divorce

For most people, a divorce is a life altering, devastating event. Besides the emotional toll it takes on you, there are the financial ramifications. One of the biggest decisions you will both need to make is determining what to do with the family home. Not only is it filled with memories but it’s monetarily significant. This afternoon on the Jon Sanchez Show at 3pm, we’ll discuss the various options a divorcing couple may consider.

Duration:: 36m
Broadcast on:: 22 Oct 2024
Audio Format:: other

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I'd be like that if you're going to watch your buddies, your buddies. Well, John, when we get into the today's rates, I'll share a couple of the data points with you that will make the audience understand what we're talking about. I mean, it's amazing how the consumer just doesn't understand what has happened since September. And I'll take us back to September 16th. And so, but anyhow, I'm trying to smile. So, I hope you're doing well. Absolutely doing great. Thank you. Doing great. Good. Corey edge of edge, really. How are you big, see? I'm doing great. How are you doing? (laughing) You're fine, dude, fine. Little volatility these last couple days, but we're hanging in there. (laughing) It's closing pretty, I mean, I understand through the day, you're getting a little bit up and down, but it's closing pretty boring. Yeah, exactly. That's a great way to put it, Corey. It's, I mean, you had to be sitting in the seat, watching this market specifically, the Dow side of things today, and even yesterday, and see what's going on intraday. And then, again, all that matters is where we close into your point. Yeah, it was just a seven point loss on the Dow, but our worst levels, we were down over 200. Best levels were up nearly 200. And so, once again, just a wild swing. And Dwight, everything, you know, I'm gonna turn it over to you real quick. Dwight, join the conversation. Everything is based on this bond market side of things, right? Yesterday, we saw a huge surge in yields. Jason and I joked about you on the show last night and said, oh boy, you know, imagine what Dwight's going through today, 'cause if I remember, I think we had an 11 basis point increase on the 10 year yesterday, and a little bit of an uptick today. But yeah, these rates dominating everything right now. This market has gone from, you know, not really talking a heck of a lot about what the Fed's gonna do with their next meeting. I mean, now the, you know, people are starting to get a little bit lacking confidence even in a quarter percent cut, and they maybe go to what Dwight has said all along. You know, maybe you don't even do a cut at all at the November meeting. So we'll get into that discussion. But first, let me tell you what we have lined up for you this afternoon. You know, for most of you, this is a tough subject to bring up, but we gotta do it. For most of you, a divorce is a life altering, devastating event, right? I liken it with the death of a loved one. It really can be that painful. In many cases, some people are like, hey, thank God this thing's over and, you know, we can move on. But most, it's an absolutely devastating life event. One of the worst you'll ever go through. And besides the emotional toll that a divorce takes on you, there's also, of course, as we all know, the financial ramifications of a divorce. And one of the biggest decisions that both of you are gonna need to make is to determine what is gonna happen with the family home. Now the family home, of course, not only is it filled with memories of raising the kids and hopefully lots of beautiful holidays and great events, but it's also monetarily significant when it comes to the divorce decree and splitting assets and so on and so forth. Well, this afternoon, the guys are gonna be educating us on what we need to do with the various options for our single family homes in the event of a divorce. And Corey, you know, we're gonna focus this afternoon on single family homes. But of course, many of our listeners, many of your clients that are our listeners, they have more than one home. They don't just have the primary. They have sometimes an entire portfolio of rental properties, which, of course, exaggerates the problems even further, does it not? - It can, so, I mean, hopefully if they have that, they're home in an LLCs, if it's just the spouses, the members of that LLC, then it doesn't make it easier, but it uncomplicates things, but when you have partnerships, so let's say the husband is in partnerships with various different investors and he goes through a divorce, then it gets a little complicated because typically, and people will know this, you get into these partnerships with different LLCs and they have spousal disclaimers that need to be signed upfront and that they're very contentious when the spouse figures out what that really means. - Right, right. - So yeah, it can open up a huge can of worms. - Yeah, and you know, you bring up a good point, Corey, and I wanna throw this out there. Well, it's on the top of my mind, and that is, folks, you know, it's fairly simple here in the state of Nevada to create an LLC. It's probably one of the easiest states to get it done. It doesn't cost a lot of money into a thousand bucks and, you know, about 350 a year or so to maintain it. So it's very simple to establish very simple and inexpensive to maintain, but I cannot emphasize enough, and I know Corey would echo along with Dwight what I'm about to say, and that is, the glue that holds your LLC together is not the filing you do with our wonderful Secretary of State. The glue that holds your LLC together is the operating agreement. And many people, of course, will find an operating agreement template, you know, on the internet, or they'll get one from a friend and just change a few names, a few dates, et cetera. Please do not do that, because to Corey's point, many operating agreements, if they are not written correctly, they don't have any discussion in regards to what happens to the assets, to the LLC interest and ownership, in the event of divorce, in the event of death, in the event of a number of different things. And so, yes, you may have this piece of paper that says you're an LLC, but if you have not addressed all these significant life events in the operating agreement, you could have a major mission. Might as well not even have an LLC. So please, spend the money with a good attorney. As we always say, all three of us deal with some incredible attorneys here locally. Corey and I deal with one firm, you know, both of us together with the same firm. They're wonderful individuals over there. And, you know, we'd be more than happy to give you a referral if you need that. But it is, again, some of the best money that you will ever spend, besides the money on a living trust, is making sure that operating agreement is rock solid, right, Corey? - Yeah, absolutely. And I mean, it comes all the way down to, I had a deal last month and I was on the opposite side, but the person trying to buy the house was an LLC, but they had no signing authority. So when it got down to the title companies, it's like, well, I need to know you have authority to sign these and I'm not, I had never even heard of that. Didn't even know what we were talking about. - Oh, you gotta be kidding me. - No, so, yeah, talk about it in an interview. - Talk about it in an interview. - Don't use it for legal advice. - Yes, yeah, exactly. Exactly. So, again, we'll be focusing, I'm sure Corey will throw some things in there about the rental side of things, but it all comes together. Divorce is very painful, very financially and emotionally devastating. Let's see if we can help some of you that unfortunately may be going through it or maybe you will in the future. Hopefully you don't. But if you do, some of the things you'll learn tonight will make it a little bit less painful for you, at least from a monetary standpoint. All right, let's get down to today. I'm gonna give you about a 20 second summary of today and then I'm gonna get to some very important news that is going on in the after hour session right now. So, we started off today a bit on a week note, down about 135, 140 right around there before the opening bell rang. That was on the Dow side, NASDAQ was down 125. In the long story short, interest rates were slightly up this morning and then they went slightly negative. So, the market wasn't paying a lot of attention to what the bond yields were doing, unlike yesterday were once again, we succumbed to a pretty severe, 344 point loss on the Dow yesterday and the NASDAQ modest gain of 50 S&P was down 10. So, this market again had a lot of things in its favor to sell off and it showed a tremendous amount of resiliency. And we wanna thank Microsoft. It was the savior of the Dow Jones Industrial Average today, along with Walmart, Microsoft finishing the day, very, very strong. There was no specific news behind it. So, a handful of tech names really kind of held up this entire market today. Microsoft up $8.73 to 427.51, meta was up $6.85, 1.2% to 582.01. But then you had pressure on like Verizon that had a earnings miss. It's a Dow component down 5%, 3M down 2.3%. GE, which is now called GE Aerospace, down 9.1% of $17.57 loss, Lockheed Martin down 6.1%. And then GM had those were batteries numbers and then general motors had some good numbers. They finished up nearly 10% for 9.8 to be exact $4.80 same gain. So, we had some standouts. We had a lot of losers today. Matter of fact, the ratio, what we call the margin, the decliners on the New York Stock Exchange, outnumbered the adventures on a three to two margin, on the NASDAQ, the decliners outnumbered the adventures by a four to three margin. So, the internals of this market were very weak, but again, at least as far as the Dow side of things, you had Microsoft just really grunting, holding the brunt of the market up today. Now, tomorrow may be a different story. It's obviously very early to tell, but here's the reason why. Few moments after the stock market closed this afternoon, we got some very devastating news in regards to McDonald's. Right now, the stock is down $17.75 now. It is a Dow component, now $17.82, a 5.66% loss to $296.87. Here's what happened. Right after the stock market closed, the Center of Disease Control and Prevention, CDC, of course, said that an E. coli outbreak, linked to McDonald's quarter pounder burgers, has led to 10 hospitalizations and one death. The agency has said that 49 cases have been reported in 10 states between September 27th and October 11th, with most of the illnesses occurring in Colorado and Nebraska. Most of the sick people reported needing McDonald's quarter pounder. One of the patients developed a hemolopic uremic syndrome, which is a serious condition that causes kidney failure, an older adult in Colorado died. McDonald said they're taking swift and decisive action, following the E. coli outbreak in certain states. The company said in its initial findings from the ongoing investigation shows that some of the illnesses may be linked to slivered onions or fresh onions sliced into thin shapes that are used in the quarter pounder, and sourced by a single supplier that serves three distribution centers. McDonald's has instructed all local restaurants to remove the slivered onions from their supply, and has paused the distribution of that ingredients in the affected areas. Quarter pounders are gonna be temporarily unavailable in many western states, including Colorado, Kansas, Utah, Wyoming. Did not seem to think about Nevada. I looked at the CDC map, showed nobody got the E. coli in Nevada, so I'm sure that if you're a Big Mac fan, you'll probably will still be able to get that here locally. But the bottom line it is putting a lot of pressure again on the stock, and right now the futures, again, this is very early in no telling what can happen overnight. But right now, Corey and Dwight, the Dow futures are down 153 points on this news, NASDAQ's are down 33, S&P's down nine. So Corey, you know, you and I and Dwight, we talk a lot about one stock or one situation can kind of break the camel's back when you're somewhat fragile. And I think all three of us agree, this market is very fragile right now. We're still about the Middle East, worried, of course, about rising yields and mortgage rates and so on and so forth. And then you add something like this, and which again is a one stock scenario, but it is obviously something that we've got to continue to watch very closely. All right, we'll continue our discussion on the market and then get into our topic, which of course is, what to do with the home when you divorce, when we come back from Kristin Snow in the right no traffic center. Hello, my dear. Welcome back to the John Sanchez show on his stock 780KOH with Dwight Mallard of the Synergy and Lending Corriage of Agility. All right, here's how we finished up. Again, as Corey said, it doesn't look like a lot. Looks like a kind of a lackluster session today, but boy, oh boy, it was anything but that. Finished down seven is all on the dial. 42,924, NASDAQ, a small gain of 33. The S&P, a very small loss of only three points. Oil prices were strong though. This always weighs on things a bit. 2.3% gain on oil, 71.67 a barrel. Gold prices, nether record closed, $20.90 an increase, 2007, 59.80 an ounce. And here we go to the bond market side. Two basis point increase on the tenure. You'll close 4.2%. Let's start things off Dwight with, how do we do on the 30-year mortgage? And then let's get into your explanation on some other stats. Yeah, okay. So here we are, October 22nd, 6.85, according to mortgage dues daily. John, that's a significant increase. So I'm gonna give you some numbers, but I just want the audience to remember the 6.85 is for your AAA borrower. If you're sitting with a high 600 low 700s, don't be surprised if you're, you might be for it with sevens, the low seven. So I mean, that's where we're at, but let me take you back memory lane, just go back a year ago, October 16th, 2023, we're at 7.94, okay, remember 6.85. But if you go back to our podcast on Tuesday before the election Monday, we were at 6.14 Monday, September 16th, right? It's for the Fed's, you know, wonderful rate announcement. And so, and then, so 6.14 on the 16th of September. So just over a month ago, now you're at 6.85. So you're up 70 basis points, John, just in the rate. So this is what's confusing people. And John, the court is the best of the best, but I get agents going, well, how come rates are not going down? You know, and they just don't understand it. So it's a tough one, but at least, you know, I noticed that earlier today, that some Fed officials suggested a cautious and deliberate approach now to moving forward rate cut. I don't know if you saw that. - Yes. - And then I did see where they're anticipating a quarter in November, but now are shifting away from a December cut. - Yes. - And then the- - Some shift in away from a quarter cut in November. - Yeah. - Some shift in away from that, right? - Yeah, yeah. And then the best of all news, historically, yields tend to rise post-election at the market digest policy. So, I mean, it doesn't look good from here out till the end of the year. You know, yeah. I mean, the election's gonna have big ramifications, but I mean, just from an interest rate perspective for the next couple of months, if you didn't lock it a month ago, you're frustrated right now. - And we told you to, exactly. Corey, let's bring in the fold here. Let's do a negative hypothetical. I hate to do this, but this is what we need to do. A negative hypothetical. What happens, Corey, if we get back above that 7%, because here's my logic on this. To Dwight's point, people were nearly 8%, then they dropped to 7, and then they dropped to 3/4 of a percent lower than where we are now. Like you said, just barely above 6%. Now they're back up to 7%. Would this make the average buyer get off the fence? Or would this say, my God, I missed the train. I'm going to the sidelines again. I'm going to wait till we get back down to that 6. I can see it going a lot of different ways in real estate buyer mentality. What do you think? - It's a really hard to say. I would say the average buyer would probably wait and anticipation of them coming down, but you got to remember, we talked about it before that decision, that if you're going to do something, do it now, because this market will front run and whatever the Fed does, which is exactly what they did. And I think it kind of shows, we'll see how these meetings go. It shows that the Fed is in control, but not as much control as people would want them to see, because of how the worry is inflation again. And I get two candidates that are going to spend money, no matter which party they're from, and all these forces working against you. So the theory is, and we've been saying it too, so we're guilty of like, hey, just lock your rate, and it's going to come down in a year, and you can refinance. Wow, maybe you can't, right? The bond market's going to do what it's going to do, and nobody controls it. - That's exactly right. Do I? - Well, I couldn't agree more. I mean, we were, and I hate to say it's spot on, because we feared that that half a point was too much too fast, and I just now think that I think people now have gone, this is just my opinion, have gone back to the sidelines again, because still the underlying current out there is, well, the Fed's are going to lower rates. Eventually this will come down, so, and that's just spooking people to just go back to the sideline. I think both of you bring up an excellent point that we should emphasize, and that is, and I hate saying this, but it's, in my heart of hearts, in my mind, the truth, this time is different, right? You always hear that. This time is different, folks. From the standpoint, you've got a couple of different, a couple of different issues going on that we haven't had in the past, right? Normally the bond market and therefore mortgage rates are going to move based upon economic data, as Dwight said, and Corey said, it's all based upon what the bond trader's perception of the health or the weakness of the economy, okay? But we've got two major things going on right now that I think are definitely impacting the bond market side of things. Number one, you still have, and I hate to say this, but I'm telling you this will impact things, potentially for the best. You still have the Israel-Iran retaliation, right? That is still looming. Even today, one of the headlines was saying again, the Israel attack against Iran could occur in the coming days. We heard that last week, we're hearing it again today. Now, when I say that that could be positive for the bond market and therefore mortgage rates, remember, folks, if this thing gets real bad, now we heard, of course, last week from the Biden administration, they said, nope, we know for sure that Israel's not gonna hit Iran's, oil facilities or nuclear facilities, they're just gonna go after war targets and that type of thing. Okay, let's, you know, whatever they do, they do. But if it's bad enough and you start to see, you know, some oil facilities get knocked out or, you know, God forbid, some nuclear facilities, people will flee to the bond market, the institutions will flee to the bond market and that, of course, will drive the rates down. So Dwight, I see that as one in a sickening, you know, analogy, one situation where the mortgage market would improve. But the second one is exactly what Corey just said and I don't think enough emphasis is being put on this. And that is the election. No matter which candidate wins, I don't see that either one of them will be good for the bond market because if you get Harris in there, spend, spend, spend, spend, spend and, you know, we can do an entire show where she wants to spend the money, go back and listen to our podcast a few weeks ago, we highlighted all the spending that she and Trump wanna do, most of which requires congressional approval. But she wants to spend Trump, you know, of course, he wants to spend on some, wants to save on a lot. But I'll tell you what the bond market's not gonna like, guys, if Trump gets elected and that is the tariffs, right? That's gonna send this bond market for an absolute tizzy fit. If he comes out and initially, you know, goes after all the tariffs and that's gonna throw the global markets, it's gonna throw a currency, it's gonna throw everything for a loop there. So it's kind of a no-win situation, the way that I see it. I don't wanna be negative, but those are just the facts of what I'm seeing. Dwight, let's get your perspective then Corey, then we'll go to break. - Yeah, I agree, John. That's why it's hard for me to even see some clarity by the end of the year on improvement. But let's not forget, we got a $35.77 trillion national debt too, that we haven't talked about. - Yes, yep, and that's getting a lot of-- - You know, so I mean, you've got so many elements that could just disrupt this thing upside down, but I agree with you wholeheartedly. I think those are a couple of very plausible scenarios. - Yeah, Corey? - Yeah, and I don't know if you caught up polty earnings, but exactly what we talked about last week, record revenue, didn't carry it to the bottom line. They lost a bunch of money, they lose a bunch of money, but their margins got super squeezed on the bottom line because of all those buy-downs. And that was when the rate was, you know, a point lower than it is now. So it's an interesting season, I guess you can say, because you're right, we haven't been through these particular sets of circumstances yet, and so nobody really knows how it's gonna come out. - Right, yeah, the Home Builders just got crushed today. Just real quickly, D.R. Hurton was down $5.88, and it's a little over 3% loss. KB down $2.67, toll $5.42 loss. Lenard down almost 4%, 3.91 down $7.06, so exactly to Corey's point. All right, what to do with your home when a divorce is happening? We'll tell you about some very important things you need to be thinking about. You and your spouse, or ex-spouse soon to be. When we come back, let's turn it over to Greg now, if he's got a news traffic away there, hey, Greg. Welcome back to the John Sanchez Show, a new stock 780KOH, Corey edge of a drill at the end, Dwight Mallard of center doing lending, joining, of course, a seven point loss on the GOW. What, 33 on the NASDAQ and a three point loss on the S&P? All right, before we get to our real estate topic, which again, is what to do with your home when you divorce. I wanna make a quick mention for those of you, and I think all of you are probably interested, but some of you may not know. Today, the IRS slash the Department of Treasury did announce a bunch of tax changes for the year 2025. New higher estate tax gift tax exemptions. That's gonna increase from 13.61 million to 13.99 million. They realigned a bunch of the federal income tax brackets. They realigned the capital gains tax brackets, earned income tax credit right on down the line. So you can find most of those changes on the IRS website irs.gov for those of you that wanna kind of give a jumpstart on next year. A lot of talk guys about how things are gonna change when, if, I shouldn't say when, but if Trump's tax cuts sunset at the end of 2025 based upon what the government laid out today. So we will see, we will watch this very, very closely. All right, in the meantime, all right. One of the most devastating events you can go through in your life, of course, is a divorce. Death and divorce, the two worst things in my opinion. So if you're gonna go through a divorce, deciding what you need to do with that family home is absolutely a major decision, not only financially, emotionally, so on and so forth. So what the guys are gonna do is we're gonna run through about five major points in areas of interest that you need to be thinking about. Corey, the first one is very obvious. Sell the home, right? Let's go through what some of the pros, what some of the cons, and they may not be as obvious as what we think, oh, just sell the home, but let's talk about the pros and cons out of it. - I mean, the pros is it's the easiest, cleanest way to break if you have equity, if everybody agrees, we should sell it, and then typically, depending on, you know, what agreement you have or what court you're in, you're gonna split those proceeds 50/15, everybody moves on, and here we go. The cons are, if you still have kids, if somebody's got the emotional attachment, if you're underwater on the house, you know, all these other factors that come in where it's not an easiest thing to do to sell it or one party doesn't wanna sell it, then you have to either negotiate really good or you let the attorneys and the judge take over, which, you know, honestly is gonna cost you every dime of profit that you had in the house anyway, so this is the bad situation all around. - You spend a lot of time in court dealing with the states and trusts and situation divorces like this. Let me ask you, any experience you have, Corey, well, let me rephrase that. What happens if you have the knowledge of this? You may or may not know. What happens if, let's say, you know, Frank and Sally decided to divorce, and they both want the house, but yet they both don't wanna sell, and so, you know, she gets his, her attorney, he gets his attorney, where did the real estate professionals come into play as far as determining that value? Are you gonna bring in an appraiser and that appraiser's gonna be, you know, that value's gonna be set in gold or do you get broker opinions? Because that value's gonna determine so much as far as, like you said, the equity or do we hold it, so on and so forth? How does that work in real life? - So typically what'll happen is if they're adverse to each other, they both have attorneys, they're not getting along. The one spouse's attorney's gonna call their best friend real to the other spouse's attorney's gonna call their best friend real to, you're gonna get broker price opinions typically, and you're gonna turn them over to the attorneys who then turn them over to the court, and then the judge gets to make a decision, and typically those values, they won't be exactly the same, but they won't be too far off. - Okay. - And ultimately the judge will decide, and that's why, you know, people tend to forget, judges don't like to make decisions, but they will make a decision when you force them to. So if there's no way to settle this, and people just cannot come together on terms, then the judge will step in and say, here's what we're going to do, and here's how it's gonna happen, and what attorneys like to do is, let's reduce it from the asset down to cash, 'cause cash is easy, right? We'll put the cash in some mistrust account, then we'll pick it over it, because when you have houses, you're subject to interest rates, times of a year. All these different factors that will change those values. - And who's making the payment, you know, between that divorce court hearing, or hearings, and when it sells, what about the, will the judge come out and say, you know, this is kind of a dumb question, but I know people are probably thinking about this, putting the time frame saying, you guys have six months to sell this house, or you report back to court and tell me why it didn't sell. In other words, will he try to put, or should he try to put any type of time constraints on trying to get this thing sold? Have you ever been told that? - They'll put a time constraint on it, as long as it's not the market that's causing the delay. So the ones that I've handled before, sometimes you have a spouse that is amicable, and wants to sell, the other one doesn't want to, but the court forces them to do it. And so the judge will say, listen, you know, Mr. Realtor, typically you now are awarded a court, not awarded a court, but you're an officer of the court. So you need to report back to me in three months, because if the party that does not want to do this, it does not help in you, not sending documents, not allowing access, whatever, then the court will step in and they have the power to, I don't want to say force somebody out of the house, but force signatures on the documents, or sign them themselves. And so they won't do anything against market forces, 'cause the market is a market, but if one or more parties are trying to delay, things they will step in. - Okay, excellent, thank you. So it wasn't the dumb of a question, then. All right, very good. Okay, Dwight, let's move on to the second point, the buying out the spouse. What are the pros and cons of this one? This happens a lot in the case. - Yeah, this is the most popular one I deal with, right? One wants to buy it out for, you know, just kind of be, you know, they got a history in the house, the kids, especially if they had done kids, and it just provides some stability and some memories. So, but I would caution, when you look at buying your spouse out, you've got to do it through a refinance, you know, because otherwise you are not getting off the deed and the note obligated to that house. So, and I'd always tell you, use the court order or the divorce decree, and it's with a C, not a G, not a degree, the decree as a guideline, because what people do in court, and I see it all the time, they wait 'til the last minute and nothing's been done, and you are just completely now under duress to do something. So, to Corey's point, the judge may put a six month on it. Well, don't wait five months in three weeks to think about it, because so I just buy out your spouse. The con with that, the biggest one, is what bought the house generally was two incomes, and now you're going to try to re, you know, try to qualify with a refinance and pay a spouse off with just one income. So, that is the biggest, but I do see people bring on their parents or, you know, brother or cousin to help facilitate that. So, just to keep the house. So, in my opinion, I think one and two are the most, you know, selling the house or buying the other spouse out if they can. - I want to hit on one quick point before we go to break, and that is, get it done. Don't drag your feet. Now, I'm going to tell you from an investment standpoint, in a situation with a client who is one of my Bakersfield clients, this was about a year ago. He informed me that he got a divorce, I mean, guys, it was like 12, 13 years ago, and he never fulfilled part of the decree, which was splitting his Chevron 401(k) with his ex-wife. And so, they ended up, I don't know how these attorneys didn't, you know, follow up or how nobody followed up on this thing, but he ended up having to go back, go back to the court, both he and his ex. He's already remarried, she's already remarried. They had to go back to the court. The judge then gave the ex-wife the current value. He had to split the current value, which imagine, guys, 13 years later, you imagine how, you know, with the stock markets done in 13 years, he could have walked away and I'm just going to use a hypothetical, you know, giving her $200,000. He ended up giving her like $400,000 plus, because he drug his feet, didn't get that done. Followed the divorce decree again. Most attorneys are going to make sure you do it, but every once in a while, things will slip to the crack. So it's your responsibility, same thing. Like Dwight said, I'm buying out this spouse, don't wait, get it done. All right, we'll come back with our final three points when we wrap it up, let's go to Kristen Snow, she's going to wrap it up for us in the right nut traffic center, Kristen, how are you? Welcome back to the John Sanchez Show on News Talk 780K. It's before we get back to the boys. Quick reminder, my friends over at SNW Attractor, they're making deals as they're coming into the end of the year, they got a great inventory, big tractor, small ones, everything in between and all the implements, but most importantly, you can't replace their expertise. Stand on the crew, know what they're doing. They'll put together a great package and don't forget 0% financing for 84 months on select models. How do you learn more? I'll stop by their location at 4880 East Nylane and Carson City online at SNW Attractor.com and they're phone number 882-1225. Speaking of phone numbers, Mr. Merlard, let's get yours first. Yeah, 240-2022. Mr. Edge. 673-6700. Thank you, boys. All right, before we get back to our real estate topic, once again, what to do with your home and your divorce, I do want to mention very quickly, we're still seeing McDonald's trading down a little over $18 in the after hours. Dow features still down about 150, 153 right around there. Another thing that's pressuring the market in the after-hour recession, Starbucks did release earnings numbers after the close. Well, guys, if this doesn't signify that the consumer is feeling the pressure, coffee store chain reported a 7% decline in the same store sales in the fourth quarter. That's according to the preliminary earnings release that came out today. Weakness was evident in the US. Transactions were down 10% from the prior year and in China comp sales were down 14%. But here's the reason the stock is now down to 4.08% after hours to 92.87. And that is because the company pulled their guidance for 2025. Remember, they got a new CEO. But Wall Street never likes it when a company pulls their guidance and they have done that again for the year 2025. So we'll continue to watch that tomorrow. Yes. Real quick talking about the consumer. I have some buddies and you know both of them that a bunch of car washers around town and I was talking to them yesterday. And they said their business is off since July 40%. From the real world. Wow. They're a precursor like the consumers pulling back for what's going on, but that's it. I just thought that was interesting. 40% of what's going on. And those guys do a hell of a business, too. Yeah, they do. I mean, they have a bunch of them around town and all of them, not just one of them. All of them are down for one reason or another. And they're in fairly decent areas of-- we'll call it Washoe County. So it's not like they're in the ghetto. We're biting me. Oh, Corey, that's what it's about. They're down in Carson, Burnley. I mean, all of them. All over the place. Wow. Thank you for sharing that info. That's very enlightening. See, that's what you get with the show folks. We're in the trenches. We're finding out for you. OK, so what do we do in the event of a door? Well, first option we discussed. You sell the home. We went through the pros and cons. You buy out your spouse who went through the pros and cons. I'll enter the third one, guys. It's pretty simple here. And that is, co-own the house. I don't know about you guys. I have never seen this with a client. Do you guys ever see that where one spouse-- they continue to own it because, again, maybe the children need to finish school or bad market conditions. It's complicated. You want to get this person out of your life and you're still involved with them. Do you guys ever see this happening? I never have. Well, I've seen them live. They don't continue to live together, but they continue to stay on the deep together. Yeah, yeah. Well, let's put it this way. One person feels really guilty, so they don't get off the deep. Right. Dwight, real quick. Yeah, no. I've seen it both ways when they went there, too. So it's very, very messy. Exactly, exactly. And again, choose it for the kids. The fourth one is transfer ownership to one spouse. We kind of touched on that. And then, Corey, real quickly, the last one, rent out the home. We can't agree to sell it. Judges doesn't make us sell it. So let's rent this thing out for a while. Maybe a little income stream coming in that we can split for a while. Yeah, why not throw it in an LLC to come managing members and create a business out there. Luminate out of lemons. Yeah, there you go. Absolutely. Again, folks, unfortunately, if you go through this, and remember, over 50% of divorces above age 50 are now ending in divorce. So this is a very prominent situation in our society. Hire the best attorney that you can. Watch your financial assets, your liabilities. Understand the whole divorce process, and just have a great team behind you. I mean, that's the bottom line to make sure it's a fair, equitable deal for both sides. That's the best advice we can give you. Great job, guys. That was very, very interesting to do. Appreciate it. A lot of news going on today. Thanks for your patience. We'll do it again tomorrow on the John Sanchez show. God bless. Have a great evening. This program was sponsored by Sanchez Wealth Management. The material in this program was intended as general information only, and should not be taken as specific investment tax or legal advice. None of the information on this broadcast was intended to be a solicitation for the purchase or sale of any security. Further information is available by contacting John at Sanchezwealthmanagement.com, or 775-800-1801. John Sanchez offers securities and advisory services through Independent Financial Group LLC, a registered broker, dealer, and investment advisor. Member FINRA SIPC. Securities only offered in states, John Sanchez, is registered in. Sanchezwealth management LLC and Independent Financial Group LLC are unaffiliated entities. Synergy One Lending Equal Housing Opportunity, NMLS number 1907235, Dwight Millard. NMLS number 24129, phone number 775-24022. The information provided today is for educational purposes only. The position strategies or opinions of the show do not necessarily represent the position strategies for opinions of Synergy One Lending or its affiliates. All information loan programs, interest rates, terms, and conditions are subject to change without notice. Synergy One Lending offers home loan financing only. Synergy One Lending is not affiliated with the John Sanchez show any speaker's companies or institutions feature. This is a paid advertisement. A message paid for by veterans for all voters. Listen to this message from Ted Delacath, former army infantrymen and ranger-qualified platoon leader active in the army reserves. 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