Stanislaus Market Update and the FAIR Plan Price Jump | REJ Daily 655

Good morning everybody. I'm Ed Parco with here with my Kelly Real Estate Jerky Daily. All right, what you got going on there today, Mike? Oh, this is we're um again, the propane has lit the world on fire in Stanislaus County. 122 closed transactions since October 1st. That's not bad. No, cuz it's only the six that's we're halfway through the month. We're halfway through. So So that means we'll be 244. Yeah, if we keep pace. 858 listings, so a few a few more listings than yesterday and the pendings are down because they must have closed. 328, that is so exciting. I'm so happy I'm able to share that with you today. You seem like you're in a hurry today. Oh, no. No, just not much more to talk about it.

I could beat that horse to death for a while, but nah, well, I'll think of something else. So yesterday we had that huge move in bonds, right? Because rates got better and then it got worse and then it got better and then it got worse this morning and then it got better. Yeah. And we're about 17 basis better with rates right now. And the 10 year sitting at 5. 08. It was 5. 07 yesterday, so it's only one basis point off. That's exciting. Wow. Uh there's not a So it actually closed yesterday at 5. 10, so we're actually two down. I'm just saying it was all over the place. You know, it had to do with the fact uh you know, everything, oil. Uh each side was lobbing things at each other. We're going to throw the worst bomb at you ever that's not nuclear and oh, we're just going to do this and then but we'll do diplomacy too.

Yeah. Yeah. Anyway, just talk there like, you know, they're just two kids in the schoolyard yelling at each other. Sure we will. I'm like, throw the punch. And the one actually talking is not the one making the decisions. No. So The one that's just standing there waiting for it to react is what's happening here. And that's where that's the way it is. Correct. I say get it done. I'm Paul Harvey. Yeah. So what else is going on in the world? Do we Uh see, that's well, um oil prices are moving higher. WTI trading around $97 a barrel. Uh the exchange of inflamation inflamationary remarks inflammatory, that's the one I was looking for. Yeah, there's I was thought we were going to talk about inflation for a second there.

No, the exchange of inflammatory remarks between US and Iran, the US shouting like I just said, we're going to throw the worst the mother of all bombs at you Inflammatory remarks. cuz daddy's the big one. Daddy is the big one. And they're just and the Iran responded saying they are the counting the days until they can shink uh sink a US warship. Oh, are they? Yeah, that's what they said. They're playing battleship. Huh. Okay. Uh Fed chair Kevin, yeah, Warsh spoke in Bangkok and while he kept his cards close to the vest, they said later they found him at one of those little place. I'm just kidding. And That would be a mistake. getting his All right, so he's he played his cards close to the vest and said little about monetary policy.

The Fed futures market is responding perhaps because of what he didn't say. Again, don't go places and open your mouth. I'm just saying just don't go those places. Anyway, so next week we have Monday National Association of Home Builders Market Index, so we'll see whether new the home builders are doing. I guarantee it's going to be in like the 30s or 28s. Yeah. Uh Tuesday's 80 P weekly employment, housing starts and permits, and pending home sales. Wednesday's mortgage applications, 20 year auction, and Thursday is jobless claims like always. Like always. Is there anything over here that I didn't talk about? Uh we talked about geopolitics. Yes, we did. Mortgage rates and technicals, we already talked about that.

Oh, did I I didn't tell you where uh they're saying the rates right now. Uh where are the rates at? Uh according to Fannie and Freddy, 30 year and the other people out there who are talking about it. Who was the other one over here? Because they had it. Anyway, we'll just keep going. Uh 7. 33 is a 30 year rate. Uh 15 year 6. 98. FHA 30 is 6. 98. They said VA is it's seven. I don't know about that. Jumbo, yeah. Usually it's the same as FHA or lower. FHA, yeah. Anyway, that's just what they're saying out there, not me. Uh cuz I haven't shopped, so I can't tell you. I mean, I don't know if I really want to look. Yeah, it's scary. Uh the biggest issue again is the fair plan went up yes uh two days ago.

Oh, yesterday actually, not two days ago. Just seems like two days ago. The fair plan went up on the 15th, the 29% increase. Yeah. In prices. Yeah, today's the 16th. Yeah, we already talked about that. All right, data. That's going to be hurtful to many people. Yes, if you're in a county that's not Stanislaus. That has a high fire severity zone and you need to have the fair plan. Oh, it's almost would be cheaper to self-insure if you if you kind of got the money. So California Corner, state checks on LA fire insurance payouts. California lender regulator, the DFPI ordered financial institutions to report data on insurance payouts to the LA fire survivors. It's also looking into reports of delayed and denied payments.

Why it matters? Cuz it's only like what, two years later? Why it matters is when insurance money flows through the lender slow releases, hold up rebuilding. Uh there's more than just that. Let's blame the lenders. Is this 2008 again? Yeah. Yeah. No, that was the appraiser's fault. No, that was they they blamed the broker they blamed the brokers and the brokers didn't come up with the programs. We they the people who were doing the issues are not here anymore. Uh Wamu, I know they were. The brokers. Yeah. Uh the other one was uh what was that? Countrywide? Country Countrywide is on your side. Yeah, wasn't that one? No, not that's nationwide. What was that big one that was country something that was Countrywide.

Is that okay? Countrywide. Yeah. All those guys were doing crooked stuff. Yeah, they deregulated and they they they went for it. Oh, you can fog this mirror? You're approved. Uh for sale, this is that extra jerky. We always throw something in here a little different. For sale, one church, graveyard included. Just in time for Halloween. That is exciting. Frida, Pennsylvania, historic church is on the market. Four bedrooms, four baths, 2. 41 acres, asking price 225,000. The catch, it comes with a graveyard, more than 100 graves, quiet neighbors though, very quiet. They never complained about your music. Well, mostly. Mostly. Friday, wow, chair volleyball. I was looking at our community corner. Yeah, just updated because did it update?

Did it have everything on it? Yeah. This is uh at the um Did they have a bunch of Gallo stuff on there? It No, it wasn't published. I got to you're going to it's going to change here. Um We still got the 60s class reunion tomorrow for Grace Davis. You got chair volleyball on Bodum at the uh the old folks center. Um 60 plus years it says. I'm 65. I I can still play volleyball. You might want to just refresh that page cuz there's a it had 160 things that weren't on there and I told it to put it on there automatically so I don't have to approve it anymore and then but I forgot to hit publish so it would update it. There's a ton of stuff at the Gallo. Okay. The play that goes Well, there's just a ton of Yeah, there's Yeah, there's multiple days, so don't yeah.

wrong at the Gallo? Yeah. No, I'm not going to They should I'm going to tell it to include it, you know, next time one exactly. Yeah. Yeah. Megan Woods, the Truth Tour, I don't know what that's about. Megan Woods is bringing the Truth Tour back. Whose truth? Oh, Candy Country, they're going to have that again. They haven't had that for years and years and years. Yeah. Yeah, well, cuz it was wrong, wasn't it? Yeah. Uh Fall Festival and Chili Cookoff this weekend, Saturday at the uh at Carpenter Road. I it probably at Michael's. I don't know. Um Michael's Pizza, 500 Carpenter Road. For for who? Um the Fall Chili Cookoff. Oh, is it on I don't Is that it's at where you say? It's Saturday, yeah. Well, it's probably out there with all the bikes and stuff, probably not in the restaurant.

Yeah. Yeah. Yeah, exactly. I'm just being the parking lot. So um what else we got going? Stockton Thunder versus Riverside Right. Hockey. Uh the Taco Project happening Sunday, the 18th at the Gallo Center. Uh Taco Project's powerful drumming uh unites ancient Japanese traditions with 21st century American innovation to create a riot of moving movement and thundering rhythm. Mm, I always like running by those guys at the uh wharf to wharf. All right, sir. I think that's about it for me today. Keep this real short today. Yeah. Yeah. Hatha Yoga. At the same place where they're going to have the uh chair Is that you? I don't know why it's coming through here. That's got to be you. No, I don't know.

It's not ringing. Not ringing on my phone, but it's ringing through here, so let's get out of here. Okay, bye kids. That is funny. I'll get it. There, it was answered over there. Similar. Got 15 pages of this stuff. That's so cool. Yeah, it's it's because it wasn't approving it. Yeah. So yeah. Hey people, if you want to find something to do this weekend, uh just go to realestatejerky. com and check out the community corner. That's right. All right everybody, make it a great day. We'll be back tomorrow on radio and then we'll be back in the office on Monday. All right, make it a great day and a weekend and we will talk to you tomorrow and Monday. Bye. Monday. Bye.