Short Sale Finally Enters Escrow After Months of Showings

I have no idea what you're talking about. Uh there's just a Good morning everybody. I'm Ed Park over with Mike Kelly and he's bitching like normal on Real Estate Jerky Daily. Always something. Yeah, I'm not I'm not bitching about real estate. Finally, finally, finally got a short sale in escrow. Now we'll see if we Is it a decent offer? It's not bad. It's it's probably the best we're going to do considering how long we've been sitting on the market and how many showings I've had. Oh, that's horrible. Yeah, how many showings you have? 653 Wow, that's a lot of showings. per hour. That's a lot of showings, I tell you. Um I would say probably at least 120. God, today's the 21st of September? Yeah.

Today's the 21st of September? Wow. Yeah. Yeah. It'll be October before you know it. What? You know how I know it's getting closer to the winter is uh it's getting darker earlier. Yeah, shit, it was dark by what? 7:00 last night? I'm like I looked at my watch, I said, God, it it feels early for 9:00. 7:00 something. It was like 7:18. Lay down, George. I know you're kind of messed up, but I'm sure if I take you to the vet, they're going to say, oh, we're going to put him down. We don't want to take him to the vet for an earache. Well, it's not an earache. His actual ear itself, it's got fluid in it and like a little thing in there. Marsha checked, it's like he probably hit it on something and it's a bruise, a hematoma.

And it's it's kind of like when we hit our heads, you know, and you get that big bump and it takes forever to go away. Oh. Oh. It swells forever. And it otherwise it would be like a something with his ear, but I smell his ear. His ear's fine. Cuz if there's a ear something, it stinks. Oh, I know. We have we have friends who has a black lab who had an ear thing and she just got close to you and you're like, oh my god, I can smell your head. They constantly have ear things. Yeah. Give it a shower. All right, what do you got today? Oh yeah. Yeah, yeah, yeah, yeah, yeah. Look at this. Look at these numbers and just tremble. 872 new listings. They're actually not new. They're new from How many more from Friday?

Yeah. 10? Um four. We were at 868 last week, I believe. Pending were 373. We're down some pendings because we're up on the closed. Uh we're 158 closings from September 1st to today in the silly little county of Stanislaus. Um isn't that exciting? Yeah, that's a thrill of a lifetime. We are we are cooking with gas. Cooking See, now you fixed it. I know. Well, I've always said cooking with fire. Or we are How how much of a caveman are you? I'm pretty a lot older than you. So uh since you went started with the inventory, I'll start with the nationwide numbers now. Uh what do you think? Up or down? Yeah, what's that? I think we're going to be down. Nope, you're wrong. We're up. Up 16 up 16,325. Yeah, we're uh 890,303.

That was as of Friday last week. Days on the market, same, 70. Price cuts, up or down? Oh good. I had a 50/50 chance. Up. Down. That is correct. Down by 0. 02%. Oh, so same really. Price cuts are 42. 07. So out of 100, 42 homes have a price reduction. Yeah. Uh other than that, the big thing this morning cuz we're kind of having a rally. The 10-year sitting at 4. 96. I don't know if they call that a rally, uh but rates are better by about 24 basis points this morning. What does that mean? Not much. Uh and it's all because the oil is back under $100 a barrel, currently trading at 97. Yeah. I heard that. I heard that. You know what else I heard? Sheep. No. Yeah. Why? I don't know. It's just something to do.

Yeah. They say don't count sheep. That doesn't really work. Yeah. The Irish came over and brought sheep and pissed off all the cow farmers. What does that have to do with anything? Doesn't have to do with anything. It's just it's a fact. Uh this Yeah, so the whole uh the most common is the carrying trade. Uh who cares? It's all about the whole Japan lowering their stuff and raising their their short-term interest rates and how it's affecting us. It's it's not really affecting us. Our biggest thing is Iran so far away. Yeah. News this week, uh Tuesday is ADP weekly employment, Wednesday's mortgage applications, Thursday jobless claims, new home sales, and Friday is durable goods. That's the big things this week.

Those are the goods that don't fall apart real quick, the durable ones. Is that what it is? Yes so. West Texas crude is trading around $97 a barrel and it was $100. 100 $100. 30 on Friday. Got to couldn't get that. Brent is near 101, which is still lower. Um the reason is the UN General Assembly opens in New York this week. President Trump told Fox News he probably would open to meet with Iran's president, uh whatever their name is, Masoud Pezeshkian or something like that. Oh, he's he's not Ayatollah? No. Second, the Houthis hit Saudi Arabian Saudi Arabia again over the weekend. Oil jumped on the headline, then gave it all back. Why? Because Saudi exports are recovering anyway, better than 4 million barrels a day so far in September.

That's up from 2. 4 million in August. Whoa. And the New York Times reported that President has decided for now not to bomb the Houthis even though uh Rysdel is r i y a d h, however you say that person's name, is asking that probably the head of, you know, the Arabic place. I have no idea. Probably he just like, you know what? You guys all need to come to the table this week and we need to talk about this. That's probably what's happening. Oh, yeah. And if you don't come, we'll just Well, that's the thing is they they they want us to handle everything. And we don't need to handle everything. We are not the the arbitrator of of all things uh in the world. Yes, we shouldn't be. Even though we we are always in something because oh, we got to fix that.

No, we have the United States first. You think so? Yeah, because we're always worried about everywhere else and but we really need to fix here. We need to fix what we do towards our veterans first. Well, I guess um I read a quick byline uh this morning that says uh Trump is taking money from uh the immigrants that were, you know, the uh sanctuary states and he's going to apply that towards housing for veterans. Well, let's see that. Where's that where's that document? I'll look for it. Hey, I got to tell you something not related to real estate. You know, the the What? the Raiders and the Chiefs are two and 0. Yeah. And the Niners are two and 0. Nobody cares about the Chiefs. And they'll screw that up.

So I think it's going to be the Niners and the Raiders in the in the Super Bowl. Who cares about the Chiefs? Who cares about the Chiefs? Okay, sure. Give it till next week. Yeah, no kidding. They always start off well and then there it goes. The Raiders did look good. That was funky. We're one and one now. Yeah. So and you know, again, he finally showed up in the second half. I don't know where he was in the first half. He was probably still in the locker room. He was like, you know, I was trying to be Peyton Manning. Come back from 40 behind and win. He's my he's my hero. He's my hero. Uh that's about it for today. There's not a ton out there. I I spent the weekend uh updating a bunch of stuff and getting things in place cuz I got to build out my uh AI bots today.

Yeah, it's a slow weekend. AI. Yeah, the Grok bots. There's I now know exactly what I'm doing. I've already built out most, you know, the actual what they're going to do in the whole system. It's just a matter of putting them together. So that's my plan cuz Mike want everything handled cuz you can actually use Grok bots for everything you do. They have their own computer. So if you do it on a computer, they can do it for you on a computer. That's pretty sweet. Yeah, they can uh you want them to Yeah, you want them to put together your uh contract for you? It's scamy too. No. They can. No, I don't. And if you had my AI jerky, you'd find there's a lot of stuff out there. There's uh one that uh so aijerky.

com till it goes public in the in the app store, but uh there there's this one company who is going to have the uh virtual, you know, you virtual videos and everything, how you see the AI people who are looking almost real. I mean, the ones on commercial the ones on I know, but the problem with the ones on YouTube TV talking about stuff, they're horrible. You can just you can just tell they're fake. Well, now they're going to do it to where it'll be live streamed where you can actually on the fly with the prompt, it'll be a like a live streaming. They look pretty close to people, but too nice. There's no inflection. There's no personality. Yeah. Really? Yes, yeah. So some really uh things happening out there.

Yeah, that's odd. When you said write their contracts for them, I know there's quite a few agents out there that are using their transaction coordinators. I hope they're licensed um to write contracts, to write counter offers, to send them stuff like that. I hope they're licensed. Well, most transaction coordinators are just outside of the company, aren't they usually licensed? Usually, not 100%, but usually. Cuz I know our processors had to have MLS if they're outside contract processors. Yeah. I got to tell you something though. Nope. That's not their job. Their transaction coordinator, they're not the listing or the selling agent. Well, those are like the back in the day where you had certain people who uh had a huge team and then everything was written under them.

Yeah. Even though they didn't even meet the person, talk to the person, but the contract was signed by them. Yeah. Yeah, it's still going on today. Well, I just I don't like teams. Is that okay? Is that okay? Is that legal? I mean, I have nothing against the people who are on the team. I just don't like teams. Huh? Do you prefer Zoom? Do you prefer Zoom? I do. Zoom way better. Oh, I did do a good job here. Oh, I told it I needed a some type of table of contents to get to the stuff faster cuz there's stuff I want to talk about. I forget when we're talking on here and I try to find it um and I can't find it. So like yeah, like uh segment seven, the close, what's happening in California. Oh. Oh.

That's amazing. I can't believe it's happened in California. They had nothing there. I just there was something about Newsom we already talked about. I don't want to bring him up again. Yeah. Yeah, he's a pretty disgusting human being. I don't know. I've never met him. Oh, I bet I bet he's um how do you say it? Uh Yeah, we'll we'll say goodbye. Have a make it a great day before Mike finishes that and we have to take it back. Yeah, cuz I'm not going to. I think I just had a stroke. All right. Bye, kids. All right, make it a great day and uh you know what? It's not a bad time to buy because you're going to be able to get some additional stuff. Even though rates are up, it's we're at that point.

We've said this before, but there are people who are just so tired of oh, I can't do it. I got to wait six months. The and that's what's affecting the sellers right now. Yes. Right. Um yeah, there's very little competition. There is still pent-up demand, but there's very little competition when you finally find a place. So do it. Yeah. Yeah, I had I had one that they got a price reduction of a lot and they sent it to me and then the CD went out. It's automatic because something was adjusted right. Oh, we had to extend the time, but I didn't have the thing that adjusted. Hey, this is still at the old. This is not at the current purchase price. It's Saturday. First of all, it's Friday night. I got the thing on Friday afternoon.

Yeah. We have a change of circumstance. We got to put it in and then the change of circumstance has to be approved and it goes through and then it adjusts everything. So that's it takes it. It doesn't take a super long, but it's but if you got multiple things you need to have submitted and you're still waiting on those from that other person, maybe you should just finish your stuff. It takes a little bit of time. Relax. Don't do it. Relax, be happy. All right. Relax. Don't do it. Yep, that is a song. In excess. All right, make it a great day. We'll be back tomorrow. Is it? Bye. Bye.