well hello there stranger what's going on man i haven't seen your smiling face in oh so long it's crazy i know what's up man hey you know we've been we've been plugging along right just uh one week one week one month at a time i mean per usual things just you blink we're already midway through almost midway through october which is wild but how long has it been since we've um Since we've had our little fireside chat. I don't know. They thought they got rid
of us. But we're still here. Somehow, kind of, in a way. Somebody greenlit this. I don't know. Like, the last conversations I remember was talking about how horrible the baseball season was going to be. And lo and behold, those Kansas City Royals are in the playoff. See me sporting my old team. I'll see you. Are we, do we get like, do we get tagged or hit if I say guard Indians? No, good. You can call, I call them the Indians still.
They're the guard Indians. It's kind of funny how like guardian just kind of flows right into Indian. Guard Indians. They were real creative with that, weren't they? Actually, now that you mention it. Yeah. No, we're good too, man. Like. It's good to, we have, you know, one real winning team consistently here in the last few years. And it's them. Although they have, you know, a bunch of young cats. And they're hungry. Unlike all the money we spend on the Browns. For nothing.
Yeah. What's the old logo called? Whatever Joe. What was his name? Smokin' Joe, I think it was. Was it Smokin' Joe? Yeah. From like, from the movie Major League. Yeah, but like, you know, you had the, they had a name for it. It was something general or something like that. I'm still kicking myself for like, I remember whenever they announced they were going to change the logo, change the team name. I got on like MLB's website, go to
New Era. I wanted to get one of the hats just to have it because they're never going to make, they're never going to make them again. And it's like, I'm not an Indian fan, but it's like kind of one of those things. You just want to have that hat with that logo on it. So if you got an extra one laying around, you know, your boy is looking for a hat. All I have, I think, that still has that old logo on it is my wife's cutoff sweatshirt. Perfect. I don't think you want to
be running around showing off your abs. Crop top? Yeah, crop top for sure. I would love that. It's a giant neck. It's, guy, you're like a foot taller than her, so it's going to look real weird. That's a lot of midriff for you. He's football player style, you know, like just came right before their shoulders. Flashback because I definitely had one of those in high school. Did you? I can see that. Yes. You're in high school. You got
to show the abs. Yeah. Yeah. All you had to do is wake up in the morning and you have a sick bag. I mean, it was great. Yeah, it was great. I remember I crushed like two Chipotle burritos in a day and still just. Look fantastic. Like magazine ready. When a magazine ready is kind of pushing it because I still, it wasn't all that, but you lose weight. You eat like 8 ,000 calories in a day and lose weight. Yeah. Yeah.
It was insane. But they have, speaking of these, speaking of these Royals, speaking of these Indians, or I guess guard Indians, there are three teams out of the four teams left in the American league playoffs. All three, three of them from the American league central represent. Tigers, Guard Indians, Royals, and then you got the Yankees. Did you see the combined payroll of the three teams, the American League Central, combined payroll is still less than the Yankees payroll. Stop
it. Three teams? Yeah, all three of those teams. Tigers, Guard Indians, Royals, combined their payrolls, it's still less than the Yankees payroll. Man, that's wild. Like, pretty solid. Yeah, I guess it's... All right, if you think about it... Those three teams are like all B markets, right? In comparison to New York. While you know they're going to have a lower payroll, but for three of them to still be lower than one than New York is insane. It's going to be sweet. It's going
to be great. When this podcast comes out, and hopefully the Royals have a 2 -1 series lead. As of right now, as of filming, the Royals won last night. And my guard Indians are 1 -1. Yeah, we got some good series. A little bit of a goose egg last night. It was not with Class A on the mound. I was hoping it was going to be all the
way around. All right. Well, I mean, we love talking sports, but let's talk about, I mean, not as fun of a subject, I would say, the current state of the United States and things that are going on right now that are also relevant to kind of what we do is the unfortunate situation that occurred a couple weeks ago with Hurricane Helene. And then right now, as we film this, Hurricane Milton is approaching Florida. And so by the time this comes out, your lane fault
will have already happened. So thoughts and prayers with everybody still dealing with the aftermath of the lean in North Carolina, Georgia, the surrounding areas, and definitely thoughts and prayers with what's approaching Florida right now. And once again, when this airs, it will have hit. So hopefully something happens and it's not as bad as what it's projecting to be right now, but it's not looking good. It's not looking good. Fingers crossed. I mean, I was telling you earlier, my
nephew's at a school in Tampa. And when they, I think it was the attorney general of Florida or somebody in office came out and said, you know, if you're in one of these counties, the affected counties that are going to get hit by this, and you decide to stay, you might as well write your name in Sharpie on your arm because it's not going to be good. It's not going to be good. Yeah, it's not looking good, right? So I texted my brother right after that. I'm
like, what's the deal? Like, you going to get them out of there? And they were scrambling to find flights, no flights out of Tampa. And my brother's in upstate New York, so the only big airport up there is Buffalo. So he had to scramble and get them on the last flight out of Orlando, actually this morning, on Wednesday, to get them up there, to get them out and get them, you know, because. Even their school sent an email yesterday, two days ago, and said, you know, we're going
to, we plan to have classes on Monday. Monday classes will be in session and we'll keep monitoring this and all that. Literally two hours later, everybody get the hell out. Yeah, get out. Please don't stay here. It's comical when people like schools or, you know, administrations try and do something like that when you know it's going to be bad. I would want to, I'm sure traffic is a nightmare, but I'd want to drive out of there. Cause if you have a car, your car's toast.
Yeah. Orlando is at least going to be enough further up enough. So actually Delilah's in Orlando, our old guest, Delilah Ramos, the taco queen shout out. And she's been, you know, she's, she's sitting tight. They're going to get wet. It's going to be wet, but it won't be nearly as bad from the wind perspective. It was something like 200 miles per hour winds, 200 plus. Just like yesterday? It got upgraded to a Cat 5. So, real quick, Katrina was like a 3 or a 4? Maybe a 3?
Katrina was New Orleans, right? Yeah. I don't think it was a 5. I don't think it was a 5. And then what was the one that hit Houston? The problem with the one that hit Houston was it stalled and just sat in one spot and spawned and rained forever. Kind of like what happened in North Carolina, where it was just so much rain in an area that doesn't get that much rain. And so obviously you just can't handle it. That's what happened in Houston. Katrina, obviously, that
city's below sea level. And it was a big one. The levees broke. It's just, all of it's very unfortunate. It's kind of part of what you deal with living in those areas of the country. You kind of know what's coming. It's a possibility. So with that, and tying it back into kind of
what we do. So whenever there is a disaster, whether it be a tornado, earthquake, hurricane, and how it ties into the loan process is if you have a loan or you bought a house recently, done a refinance, I believe, also, and that loan is recently closed and it has not yet been purchased by the investor, they order something that's called a disaster inspection where they, you know, obviously it's a fresh loan, the house is the collateral, so they want to have somebody
once. Once the disaster happens, FEMA then goes in and declares what counties were affected by that disaster. And so those become, what, FEMA disaster areas. Disaster areas, yeah. Yeah, is what it's called. And so you can go on FEMA's website and see what counties have been declared affected by a disaster. So if that house that you purchased is in that county and it has not yet been purchased by the investor, and don't take this as possible because we're pretty sure
that's how it works. It's before it gets purchased by the investor. We're not in the secondary department at mortgage companies. We're appraisal guys. We fill these orders. We're sending the guy out on the boat to make sure that the house is still there. And so what they want to do is make sure that the house was not significantly damaged. And if so, obviously repairs need to be made. And so those are something that we deal with here at Nationwide Property and Appraisal Services.
We will get an appraiser or an inspector to go out there. Sometimes they require it to be an interior inspection. Sometimes require it to be exterior. It usually depends on the type of disaster that's been declared. Usually flooding is a possibility. They will want the inspector to come inside the house. It just all depends. And that's also like, that's with an asterisk, right? Like, if possible. You know, we've seen a lot of these already in, obviously, well, North
Carolina, South Carolina, some in Georgia. Yeah, a little bit of Virginia too. A little bit of Virginia. Yeah. And, you know, they just, they're, they trickle in to your point. Like it's, it's not every single loan and it's not the older loans. So, you know, there's been a lot of activity. Yeah. It's a fresher, it's a fresher loan, but the product they call it a CDAIR, see there.
The old C there. Yeah. And so, yeah, if you're listening to this, wondering, you know, if you have any questions about ordering these, if you have any questions, you know, you're a mortgage broker, loan officer, and you just. closed a deal a month ago and you might want to look into it and get ahead of it and be prepared to order these. You're not missing out because whenever these things happen, you got to think how many
homes have sold in these areas. There's going to be a mad rush once everything clears and people ordering these and inspectors, appraisers get behind. And so you want to be on the ball getting ready to order these things. Don't you have a place for people to reach out to? Yes, absolutely
do. So, you know, if you have questions on whether the area has been designated a disaster area by FEMA or anything about the product and what it looks like and how it might compare to any other kind of exterior or drive -by inspection, shoot us an email at cdair at nationwideamc .com. That's C -D -A -I -R at nationwideamc. And the team will get you a quick response and hopefully help you out in what you're... I think this might be a good time to have a word from our sponsor.
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on STR Pro, sales at nationwideamc .com. All right, so let's talk about in the recent weeks, we've had the Fed drop some rates. Rate drop, rate drop. So, you know, what does that mean for the mortgage side, right? Because it's not a direct, like, we'll just say one -to -one correlation. Wait a second. You're saying when I see news that the Fed rates drop, that... Mortgage rates are instantly lower and I can't refi and get a lower mortgage rate? That is correct, Michael.
That is what I am saying to you. It's not a direct one -to -one correlation. What? Let's try some knowledge on these people. So the Fed dropped it, what, 50 basis points? And that is, you're looking at, well, we're talking about these Fed rate drops. We're talking about interest rates on simple things like your car loans, your credit cards, things like that, right? Short -term.
kind of loans if you will right mortgage bonds right like things like that yes thank you so you know when those numbers start to come down then people get we'll just say the banking industry gets a little more of an appetite to be able to lend because you're going to have more income available to send right there is also the misconception that when these rates drop that all of a sudden the banks and the lenders are going to just slam
their rates which is not the case. Oftentimes, these guys are so far ahead of the curve and they know it's coming because they're in these Fed meetings. They understand what the Fed is going to do and when they're going to do it. They already bring the rates down in anticipation for the Fed to cut their rates officially. So you're saying it was preemptive? Yeah. And you might see half a percent, something like that, in the banking world already. And they're already
there. And now with all this buzz and this energy from the Fed announcing it, you know, then that creates people picking up the phone, calling their broker, their LOs. Like, okay, what can we do to refi? Okay, I think I'm ready to get off the fence and actually go buy this house. That's what an offer is. Because they can, they're okay with it. I mean, you know, half a point. I mean, it might only be like a hundred bucks.
Maybe you save a hundred bucks on your monthly mortgage payment, but that's enough for a lot of people. In a lot of markets. Yeah. A hundred bucks is a hundred bucks. I mean, have you been to the grocery store lately? Yeah, I have. Yeah. I have a 12 year old daughter and a wife and we dropped $300 like every other week. It's bad. There's only three of us. It's insanity. Yeah. So, I mean, it makes a big difference. And so what you were saying though, to circle back real
quick, just so I fully understand. So what you're saying is maybe a bank is going to say, okay. We've been working with the Fed. We get the rumblings that Fed's going to drop rates here next month. So let's lower our interest rates maybe a quarter percent, 25 basis points, whatever you want to say. Let's lower it a little bit. I like the word bips. 25 bips? Bips. And then let's see if they do announce it. Okay, they did announce
it. It was 50. And so then let's ride it out for a month or two and see how things kind of change and if there is more of an inflow. And then we have room to lower it a little bit more based on money getting spent, money moving across the board. And then once again, we got maybe another one coming in November. So that'll help keep things trickling in the right direction where people want to go. But that in mind. What's
our housing inventory looking like? If you've been on the fence to buy a house, man, and you've been waiting for lower interest rates, I'm telling you, I know you've seen it. I mean, we live in a day of social media, TikTok, Instagram, everything. And, you know, you can't get away from this stuff. People are telling you now is the time to buy. They are not lying. If interest rates drop down to 5%, 5 .25%, 4 .75%, which I don't think will, who knows? That'll never happen. It's going to
be quite a long time before we see it. But, I mean, even if they drop to five and a quarter for a 30 -year fix, five, I mean, it's going to be absolute mayhem where people are like, okay, I'm ready to buy now. And the problem is that home that they were looking at that was, say, $350 ,000 is now going to be $425 ,000. There's just more demand with less inventory. Oh, yeah. You bring up a great point that drives everybody crazy. Yeah. The inventory and the
new construction, so delayed. You know, they're eight plus months behind, something like that. I don't even know. It's like the stock market. It's like, when do I buy? When do I sell? It's very similar. And, you know, this is why we encourage you to reach out to the professionals. This is why loan officers exist. This is why realtors exist. This is why it's not fully automated and
you could do it by yourself on a computer. You know, like, and you have to talk to the people that are in the trenches dealing with this every day. This is why we exist. helping out with the appraisal process and helping appraisers and helping everybody guide them through it. There are so many ebbs and flows to this whole business and this whole world that you really do need to talk to people that are in it for true advice. Don't believe everything you see on social media.
Don't believe everything you read in the news, especially about the doom and gloom that comes with the news when it comes to the whole real estate industry. Talk to the professionals. We're in it every day. We're not trying to dupe you. We're trying to help you. 100%. A lot of people will put a lot of faith in, you know, Zillow and Redfin Analytics and not to knock anything out because AI and what those guys do is great.
And it's taken the industry, you know, leaps and bounds where it was, you know, five years ago, shoot, even three years ago. But you need more information, I guess, is the long and short of it. You need to talk to a true professional that's in the business and that's in the area, in the market, and not just... a computer algorithm.
That's the smart move, right? And, you know, with the, also, you know, when it comes to the inventory and the, you know, getting off the fence and, you know, there's a lot of moving parts and we don't have time to get into it today, but a lot of moving parts with the NAR settlement, how that, the LO comp is going to come into play, all those things, like the buyers have a lot more, we'll just say control than they have in the past. Yep. Which is fantastic. Like, it's
where we want it to be. And, again, reach out to your local professional on some of that stuff. And your local LO, they'll hook you up. They're there for a reason. They're there for a reason. Yeah, they're there for a reason. Hey, you could say they're right beside you. Okay, moving on. Bring it back. Snuck it in. Have you been on the road much lately? Have you been doing anything? Aren't you leaving today? I know you're a road warrior, man. I don't know how you do it. Yeah.
And, you know, still married 10 years later. It's working. Yeah. So recently, yeah, October is a huge month for our teams and nationwide in general. So, you know, it keeps Jordan busy. She's taught a lot, a lot of our play from marketing. Don't roll your eyes at us. Do not roll your eyes at us. We can see you. Don't forget, we can still see you. Yeah. So, yes, this month I was at the Housing Wire IMB in Dallas. So the
independent mortgage bankers. And that was kind of like a leadership conference, if you will. They had a lot of high -producing loan originators from around the country come out and speak. Some C -level execs, they're on a couple panels talking about what's coming in 25 and how to educate and coach your teams as the rates come down. And everybody wants to kind of pivot towards a mini refi boom. And I use air quotes, right? It's going to be super mini. But they all said,
don't sleep on the purchases. What's been the bread and butter? right for so long as these rates have been high, purchases are still going to be very strong into the new year. Well, like the saying goes in the realtor world is what? Sell to survive? Sell to survive. Yeah, yeah. If you're not getting listings, if you're not selling homes, that's how you survive long -term, right? If you're getting people that use you to sell your homes, that's how you become a long
-term established realtor. The same thing as a loan officer, you've got to have a purchase market. You can't rely on refi boom to stay in business. You have to begin leads and purchase those leads to long -term sustainability. 100%. So, you know, shout out to Housing Wire for that. That was a great show. I've only been to one other smaller event of theirs, and they did a really good job with this one. They're trying to get bigger. What else do we have coming up?
This week, actually. Sorry. Cross -country mortgage sales rally down in Austin. Man, I didn't get invited to that thing. I bet that's huge. It's monstrous. What else? The NEXA sales rally, which is this week as well, in Dallas. I've got a couple team members there. Yes, I'm getting on the road this afternoon, going down to Virginia Beach to the Virginia NBA annual convention. That kicks off tonight. Get a couple crab legs. You know,
what they do down there. Throw some dice. Man, I wonder if they've got a casino down there. What else this week? I'm sorry, this month. Apex, it's a credit union show in the Northeast. And then the big ones, guys. NAMM out in Vegas, which is a monster broker show. Yeah, we used to go to that. I think I've been to that three or four times I've been out to that one. Yeah, Caesars. So is it Caesars? Yes. It'll be at Caesars again. Caesars Palacios. He is hosting the event once
again. Did Caesars actually live there? Like the real Caesars? You know what? I'll ask while I'm there. We'll see what they say. Appreciate it. For sure. I'll come back with a report for you. Thank you. We will be exhibiting there a full booth. Lots of entertainment for the clients, for our current clients and future ones. What else? NBA Annual. Another big one later this month. Big one. Our CEO, our CRO, myself, and maybe a couple others will be out there. Possibly.
Possibly? Possibly. And I think we're going to wrap up October with the American Credit Union Lending Conference. So we got a mixed bag, right? October is a giant month. That's not even all the shows we did this month. That's just what's this weekend beyond. Yeah, it's coming up. You're going to see us on the road a lot. Watch out for the social media posts from the teams. Value Nation. We're going to be hitting it hard. Maybe some TikToks. You always say that. I don't think
I've seen a Value Nation TikTok. Well, I guess we're just going to have to fix it. Partially because I refuse to put it on my phone. I refuse to download it. That makes two of us. So Jordan is going to have to show up somewhere and give us a TikTok. Yes. See, I'm just helping her out. Get on the road. I'm an adult. I watch TikToks two weeks later on Instagram. You and me both. You and me both. All right, man. Well, hey, it's been a great, I think, comeback episode. I feel
like we've got some real good stuff going. We're trying really hard not to fall into that podcast that fail category. I feel like it's like you make it 10 episodes, then you drop off and never get going again. That's where podcasts go to die. We're survivors. And even if you don't listen to us, we're still going to keep pumping them out. It's going to happen. Yeah, they can't shut us off. We're like the guard Indians and the Royals. You know, we just super low payroll,
but we keep fighting super low payroll. All right. Don't forget, if you are not already, go like and subscribe on all those beautiful social media platforms. Like we said, TikTok, IG, Facebook, YouTube, Spotify, Apple Podcasts, or wherever you may be streaming this wonderful show. Appreciate you for listening. This is Value Nation.