Can a Reverse Mortgage Help Pay for Major Home Repairs?

And now live from our Smokehouse studio, it's time for Real Estate Jerky. All your real estate questions answered by our provocatively lean expert hosts, Edward Ed Parcaut, MBA, veteran and president of Lending for Living. We'll give you something to chew on. Real Estate Jerky is on now. Welcome to Real Estate Jerky. We always give you something to chew on. I'm your host Ed Parcaut, MBA veteran and president of Lending for Living. Our studio is located right here in Modesto at Lending for Living with our producer Mike Murray and we're proud to bring you the latest updates and insights on the real estate market in our community. Thanks to our partnership with iHeartMedia and this station KFIV, you can tune in never miss an episode by subscribing to our podcast.

Stay up to date by following us on social media. Joining me today is Mike Kelly. Hopefully he'll stay here. Remax executive realtor. How's it going, Mike? It's going really well. After all those issues, we're doing well. We're having some technical issues today. It happens. You know, it's pretty good after 500 something 300 and some episodes to only have this one time. One time. Yeah. One time. All right. Anything you want to talk about besides the fact that it's warm today? It is warm today. Um and it's and and and yeah, graffiti weekend. Graffiti weekend. What time do they open down down at the J? They're already open, so don't worry about it. It's noon. They're already open. Yeah. Always noon.

Yeah. I was thinking I you know what I was thinking? No. That they're open. They are. It is it is a warm one today. You are correct. They are open. So, um if you get some time, put on your uh short pants and your uh tankless t-shirt or whatever it is. Or just wait till tomorrow morning and go in the morning on Sunday. And go out early in the morning. There you go. That's what I would do. I would I would go. But fewer people there. The beer garden will still be open. Yeah, that's like you really need to start that early. I got this 5:00 somewhere. It's probably uh an hour past somewhere. So, what do you got this morning? You usually start with national numbers. I do, but we usually talk about a few things.

How was you you went camping last weekend, Santa Cruz? I went camping in the Santa Cruz Hills. Did you like go check out real estate so you could write it off? No. Yes, I did. Wrote off the whole trip. Um I was I went into two open houses. They're a million eight and a million nine. That's what you do to write that stuff off. I went for real estate stuff. And and both of them should have been torn down. But one did have a new dishwasher. So, they're asking 20,000 over normal price. Yeah. Yeah. Should have bought that dishwasher on sale. Yeah. What are you going to do? It's like, you know, I had some people reach out to me because I asked for mini splits and I Mike I could not believe my quotes were anywhere from 6,800 to 8,300.

Yeah, and then all this stuff and then 9,000. Uh I talked to a friend of mine who's a vet and he's like, well, I had mine installed for this. I'm not going to say what the number is. I'm like, by who? He goes, my son. I go, have him call me. Yeah. Yeah, it was a third of the price. Yeah. No, that's much better. Cuz I look I researched them. They're not that expensive, the actual unit. No, they're not. So, that it's like, okay, well, how much of that is labor? Well, they don't tell you that. They just give you a quote. Yeah. Um you're doing exterior or interior? I Well, it's putting Well, I'm having the air conditioning put on the inside, yes. It's a mini split, so the outside would have the thing.

I was going to put it on the the roof. Right. Okay. And it's 400 bucks to have a roof a roof company do that little thing so they can put the cap there and sit on the cap. Cuz I don't want it on the side of the house. I don't want it on the back where the pool is cuz they're like if you mount it on the house on the outside of the wall, it's going to rattle. I don't want that. Put it on the roof. How my neighbors be able to hear it when they're in the jacuzzi. The condenser compressor. Sure. Squeeze it. Right. Well, they're not going to be in it during the summertime. They'll be too hot. They could be chili dipping. It'll be too hot to be in there cuz I have a cold plunge in the in the garage now and I want to keep that temperature around 79 so that way that thing doesn't work so hard.

Yeah. That's a good thing. Yeah, the harder it works, the quicker it breaks. Well, what happens is that the fan on the back it just keeps putting more heat in there, more heat on there. And I actually finally took it away from the wall, have it completely out in the middle. Not want to say in the middle of the garage, but pretty much open to all the air. And it's helped out a lot. It's kept the temperature down right around 37 38 much easier. It's a good spot for air circulation. Cool. That is cool. And how long are you uh plunging? 3 and 1/2 to 4 minutes. Wow. Yeah. Icicles? Only my toes. Yeah. All right. So, now enough about that. Let's get on to the national market. So, what do you think? Up or down last week?

I think uh this inventory wise. Inventory we're up. I I we're we're about ready to get be in a bubble um because uh we went up by 10,277 Really? which is about a what's that? 5% of what our bubble numbers were, 250 to 400,000. So, we're at 806,198. Yeah. Cuz people keep still thinking we're going to get into we're going to see a crash and everything else. Well, in order to have a crash, this number instead of 10,277 needs to be 250 to 400,000. 250 to 400,000. Yes. And then we would be at what would be considered by the old standard a normal market. No, cuz we're not not if we after 4 weeks we'd be way over a normal. Yeah, way way way way over. If it only happened 1 week, that's one thing. You're getting closer to meeting the demand.

You're listening to Real Estate Jerky. I'm Ed Parcaut, MBA veteran and president of Lending for Living alongside Remax executive realtor Mike Kelly. So, then then we median list price is 450,000 has not changed. 56 days on the market has not changed. Price reductions up to 37. 54. And we saw um existing home sales, right? That's closing. This is just listings. They were like 419 something was a median price. Has not changed. Oh. Right. Uh that would tell you that a just like the 37. 54, a third of them are cutting their prices and that's why the existing home sales are much lower. 429,300 is what that number was. Right. The median price. Yes, sir. Wow. Yeah. How very cool. So, that just tells you people listed for this and then they take it a little bit less.

So, what does that mean? Price it very aggressively lower and then people will bid it up. Yeah. There we go. Because they will. There's only one person can buy it. So, you And I have I have a real estate agent who bought this beautiful place and she put her house on the market up in Sacramento and within a week it was already got offers on it. Really? Yeah. So, I I So, she listed it correctly. Did she listen to herself? Yeah, she actually listened to herself put and she redid the landscape in the front yard because that was her whole thing. What happened was there was some issues in the diet. She's like, I got to put landscaping in in front cuz it's not going to sell. And so she did that and now it's all beautiful out front.

You got that nice curb appeal and it was gone. How very cool for her. Yeah, because they're buying their forever home that I'm helping them with. Oh, yeah, the forever home. I think I have my forever home, but my wife is telling me that in a couple years it probably won't be. Well, it could still be your forever home. Yeah. Yeah. Go live in Colorado. I'll come visit you. I'll come visit you. The only thing about Colorado is just the we thought we were dry. Oh, I know it. I know. You have to sleep with the humidifier on or or as people do the the people that know when they stay in a hotel room, they turn the shower on, turn it on hot and get some steam going and um the fan and that'll um give you moisten you up a little bit.

I know you're not supposed to word use the word moist, but it helps. You don't wake up so um completely dry. Yeah, well, that's the thing about, you know, you need that's chapstick. Well, not really chapstick cuz that doesn't do anything, but some some type of lip balm and then lotion constantly. Yeah. As um vets come from North Carolina to here and they're like, oh man, this is horrible. It's so dry out here. It is drier than what you're used to. That's for sure. Yeah, cuz that has some wetness back there. All right. So, that's our numbered nationally. Um do you want to get into your numbers? Yeah, we can do state real quick. Um Okay. Now, take your time. Don't Okay. Don't rush. I'll I'll talk slowly.

Redfin just looking at single family homes. They say we have 108,753 which is up about 3,000 from last week. We were at about 105 and about the same hundreds. Um but then you got that realtor. com that can looks at everything and they think we have 156,186 active homes on the market. And I read an article earlier today, California has reached the median price of 9 18,918,000 for a home in California. The median price. Median price? That's on the same article that was saying about delistings. Yeah. Well, you know, we were talking earlier this week about delistings and why some people are probably they're like, okay, I sold my house for 918,000, but I have to replace my house at a million eight.

Um wow. So, I got to stay here and remodel the bathroom. Well, you brought up Redfin, right? And the first thing I thought about was Zillow. And then we got an article from our producer about uh can I trust my Zestimate? Yeah. And Zestimate? Yeah. The short answer, check your facts first. Just the facts. Just because it's uh square footage, bed count, home type can be totally wrong on there. They're not an AUM automated valuation model. AVM is what I was looking for. They're not one of them. They just they use their own their own numbers. Their own algorithm. And when I understand their algorithm is just about everything that transfers title in whatever county you're in. And so that's how they kind of come up with what's going on in the neighborhood.

Sometimes those transfers are um interspousal deed transfers. They're um just dead people transferred. So, they're voters. Yeah. Get your real estate mortgage questions answered by the experts at Real Estate Jerky. Contact us at radio@realestatejerky. com. Call me Ed Parcaut at 209-404-1915. Reach out to Mike Kelly at 209-968-5633. What's our numbers for locally? Locally. When do we close When do we close final numbers for uh one month? Yeah, where I couldn't remember what month we were in here. For me? 322 closed transaction for the month of May. And if we if we look at our inventory today in Stanislaus County, we're looking at a 705 active listings on the prop on the on the property on the market.

705. 20 300 realtors in the area. So, you figure that one out. We're we're staying strong in the 400s. 415 pending transactions. And we've closed 86 transactions since the beginning of June. Now, that's only 13 days. That's only 13 days. Today is the 13th. Yeah. Not bad. Well, I'm sure it'll be more by Monday, Tuesday, Wednesday. And as according to last month's numbers, you say they have 3 days at the end of the month. It's like they took 6 to 7 days. Yeah. They took 6 or 7 days. They're like, oh, the weekend doesn't count. Whatever. Um the weekend doesn't count. They probably don't they probably don't know that or care to know that. Yeah. Uh they'll probably get a little email from the multiple listing service saying, you Yeah.

Yeah. No, they're they're not going to send anything cuz they're going to say, stay on with us. Please please pay keep paying us. We do want to stay solvent. So, back to the delisting wave in California. Yeah. New figures out supposedly last week sellers were pulling their homes off the market run running at unpercent I can't even say it whatever. High rates. There's the number in California. Uh the senior economist at realtor. com says that twofold buyers won't pay what sellers are asking and sellers are realizing they can't afford their next home. I think that is not in Modesto. I think that's in in the area we live in. I think that's more in Southern California. Yeah, I would agree. Because that's where the record 914,010 in April that came in that you just said.

Um sellers are sitting on a lot of equity, but if they sell, they're buying back into the same record price market at a 6 and 1/2% rate. And that's what they're running into. So, they're staying put. Now, that's not really I mean in the bay they were talking about Bay Area and the AI wave and how that they're they're putting down more money because of these people who have, you know, they're putting down almost 30% versus they were putting down before like 20 something percent. Right. Just to get away from their PMI. Well, just in general, they're just putting down more money because they have more wealth over in the Bay. So, that that we're in a totally different situation than Southern California or even like Bakersfield.

So, I just think that you it's a mar Real estate is uh what did uh what's his name say? real estate is uh uh the three things about real estate. Location, location, location. Yeah, three times. So, it's just depends on where you're at. Cuz some places are going to be de-listing like we saw last year in Florida, huge stuff about the condos and everything else that was going on. You're going to see that here in certain places where people go to list their house and they're like, oh, I can't get for that. I'm going to just stay put. Yeah, you you hit the nail on the head. I can't get what I'm wanting or what I need. Real estate's never about what you need. Sometimes you get it because the market is very nice to you.

Sometimes you don't. You get what you can get. And they also looked at, oh my, how much capital gains I have to pay? This is my primary residence. Why am I having to pay uh $22,000 over 100,000 over 500 over what I bought it for? I bought it for 600 and 500 that's 1. 1 and I'm selling it for 1. 9. What do you mean I got to pay capital gains on 800,000? Yeah. Yeah, because Yeah, yeah. I would love it if they just um eliminated that. You would see more people selling property. You'd have more properties on the market. It would help stabilize the market a little bit. But they ain't going to do that. Well, it's like last weekend we went up to the cabin after the show and we're sitting there talking about eventually selling the cabin and I was like trying to explain to Marsha about the capital gains you're going to have cuz it's a second home and we need to do a 1031 exchange, put that money into something so we don't pay that extra, you know, probably it's $66,000 in taxes.

And she's like, and then she chats it and clods it and you like, don't just look at the taxes. Look at the opportunity you can use the other money that you get because you're not you're not only you you you're increased this amount. Yes, you have to pay taxes on it, but look at all the other money you got. But I'm looking at the money the government's taking for doing nothing. Yeah, for doing absolute Well, not for nothing. They're doing all kinds of dumb stuff. They're doing nothing for me. They're doing nothing for me. Yeah. Nothing for you is very true. They're not doing anything for me. They're not doing anything for veterans. They want us to pay our own way on everything and they're doing a lot for everybody else.

Yeah, you know, you brought that up last week on the show and that's it's just it's criminal to me that they want to increase the funding fee to be able to cover something for a few vets. Well, it's not it's going it's a lot of vets, but why are we paying for it? The funding fee is supposed to be in case the loan goes bad. It's like mortgage insurance. That'd be like every FHA person who has mortgage insurance, they double their mortgage insurance and now you have universal health care. Yeah, you took the words right out of my mouth. And the problem with with people understanding universal health care like I forget somebody's going in to have a heart thing done at 70, somebody we know. I think they're probably 75 close to it.

Universal health care would say, sorry, you're going to die soon so we're not going to give you this heart or whatever. We're not going to do the heart surgery because it's not worth the money. Yeah, we'll just put a couple balloons in you. No, they won't even do that. That's the thing is universal health care will say it doesn't make sense for us to spend this money on you because of your age. That's the problem. And people don't understand that. Yeah. And I would just say, well, I got 70 good years. You're listening to Real Estate Jerky. I'm Ed Parcaut, NBA veteran and mortgage advisor and lending for living alongside Re/Max Executive Realtor Mike Kelly. That's just some of the stuff you run into and that's why Marsha always talk about people want universal health care until they have an issue like that and then don't they don't understand that it won't cover it.

And how long the wait is. Just talk to people in Canada, talk to people over in UK and other places where they come here for these surgeries. They do. That's true. I she I would imagine sees a lot. Sees a lot of what? You know, different situations for people that like they're coming over here for surgeries. No, she doesn't because it's Kaiser. They only do Kaiser employees. I mean Kaiser Oh, that's true. I forget she's Kaiser. Yeah, so that's an insurance company that owns hospitals. It's the smartest thing ever. It really is. Instead of like the other hospitals that take insurance, they don't have their, you know, that kind of stuff. Gotcha. Yeah. All right, so that's the show. Well, goodbye.

That's a wrap. No, that's all that's all the real estate stuff I had for right now. Uh but they were talking about the other day, everybody was talking about all the layoffs because we had ADP employment again this week which had more, you know, not as many jobs as last week. And last week we saw more jobs, but they were talking about layoffs and everybody's been talking about AI is causing these layoffs. And then I I saw an article and actually saw it on TV also. They were talking about it. They the companies have found that if they say the layoffs are due to AI, their stock prices go up. Okay, interesting. And so yeah, so that's what they've been throwing them under even though it has nothing to do with AI.

These are just the leftover people from the pandemic that nobody wanted to get rid of because they thought the market was going to take off. They thought the market was going to take off and it didn't take off. And that's what you run into. The the more and everybody looks at it and says, okay, well, how come all the stock prices are going up? It's because everybody's using AI to be more productive. The AI layoffs are still coming in the next year or so. They're not they're not here yet. So we have not seen them. Yeah. They're on the horizon. Um and that's just the way it is and that's where we're at. I just wanted to bring that up because so many people tell me, well, we are so many people being laid off because of AI.

Not yet. They're coming. Wait a minute. Wait a minute. Hey, did you know that one in five home buyers is a single woman? I I think we saw that a while back. Something like that a while back. Yeah, they're I guess they just want to drive that point home. Um congratulations ladies. I I'm I'm so happy that you uh finally got rid of the guy or the gal, the U-Hauler and So, I'm sorry. If one in five is a woman, what are the other four? Not women. They're not single or they're a man. So, a married couple? A single woman. A one in five home buyers is a single woman. Is another one. What's the other three? What's the other three? If uh a single man, a single woman, uh couples, right, married or whatever.

A man. Right. What's the other two? Um transgender. I don't know. I don't know. It doesn't make any sense to me. So, what it's saying is the other the other four are either single man and or married couples, period. You're doing the numbers. Right. It's just saying now all the transactions one in five are a single woman. Well, that's great. I'm glad they're buying. They're the ones who walked away with everything. A single woman. Yeah, she's a keeper. Her dignity. She's a keeper. She kept the house, kept the dog, kept the furniture. Just not him. Yeah. Yeah. Uh you know what? I'm happy that the single women are buying uh properties. That's fantastic. Yeah, because that means it's one more market that you can have access to.

Yeah. No, I wouldn't. Why not? Have you seen me? Yeah, they're like you're like grandpa. Yeah. Hey grandpa, can I afford this house? Yes, you can, sister. That's right. Get you pre what's called pre-approved. What's that called? Underwritten approval. All right, so we talked about the biggest issue right now. Everybody keeps talking about rates, how they're going to raise rates or lower rates, the whole nine yards, you know. And you're talking to the overnight rate. I'm talking about the Fed funds rate. The problem is with the straight-up hormone moves, if you look at it like a garden hose, they got their, you know, foot on the garden hose and they're kinking it. And so that's how much water water which is oil coming out of it.

Until that foot comes off of there, it doesn't matter if they raise rates. It doesn't matter what they do. Nothing's going to be changed because of that. That is where the problem is right now. That is the only way things are going to get better is having the straight-up hormone moves open. And that's why President Trump's been trying to this whole time, well, a couple more days, a couple more days. It's going to be better. Just finish the job. Get her done. Isn't what comedian says that? Get her done. Uh he's not around anymore. Yeah, I know. But okay, he used to say that. Because the cable guy is not really around anymore. That's true. That was him, right? Yeah, the cable guy. Yeah. I I do know those things.

I know what you're talking about. Yes, we do know what we're talking about on various occasions. The other ones, you can do it. That was from a movie though, right? Yeah, that was that was from like Joe Dirt. Uh that was also from uh Billy Madison. It's also from uh the other movies that they're So, he hired his own friends all the time and put them in the movies. Always put put them in some Right. Oh, awfully nice of him. He's making some money. He's sharing some money with them. Well, that's how, you know, that's the thing. That's how you get helped. Is it really? Mhm. Your friends help you. Friends are helpers. This is Real Estate Jerky on Power Talk 1360 KFIV and I'm Mike Kelly, Re/Max Executive Realtor here in the Central Valley, sitting right beside Ed Parcaut, NBA veteran, mortgage expert and president of Lending for Living.

And we were just discussing some of the crazy things that goes on in real estate. What other crazy things are going on these days? Well, I actually had uh somebody reach out to me this last week, a veteran, Yeah. 100% disabled. And what's happening is they have a older home. Uh they have a loan on it, but the foundation is crumbling. And they're trying to figure a way to get it fixed. And they guess they called one of those foundation people and they're like, it's going to cost you 60 grand to fix this. Well, she's a older lady, you know, 100% disabled. Mhm. Doesn't have 60 grand in her pocket. No, just no. She's 100% disabled. Yeah. And the And so I said, send me the pictures, send me the stuff, let's see what it is.

And so I'm looking for I got I'm trying to find a program that will help her cuz I know they have programs through the VA to help you in your house to make it more, you know, accessible for you, right? Like if you're in a wheelchair and that kind of stuff. Well, the question is do they have something like this? Cuz there's no way I mean there is a renovation loan, but you can only get like about 35 grand. You're not going to get 60 grand to fix the thing. Right. And they're they got to jack it up, report of the foundation and put it back down. It's a post and pier foundation cuz it's like 119 something, you know, young early. It's the outer foundation around that is cracking. Yeah. Which most people don't understand.

There's like on post and pier, that doesn't mean you don't have a it's just not a slab. It's a raised foundation. Yeah. And they don't last forever. Yeah. Right. Right. Those post and piers are holding the middle up. Correct. Cuz we have the same problem here not collapsing but just there's a foundation around the edges. Yeah. Yeah. Mine mine's the same way. And which is very very nice when you're doing some remodel stuff cuz you can crawl under the house and do it. You don't have to jack up or that slab up. Yeah. Well, so our cabin's post and pier, but it doesn't have the foundation on the edges. It's ooh, interesting. It's 1950. Yeah, 1950. That's how they did it really back then. Yeah. Those So, I wish they would have poured the around cuz then I could close it off much nicer, but I can't.

And then when they came out cuz we had a and it were all over the place today. We'll get back to that lady in a second here. Uh but we had a mouse problem up in Cold Springs this last couple years. No, just this major mice issue, deer mice everywhere into everything. I finally called a pest company to put stuff out. I haven't seen one since. But they're like, okay, well, we can flash that also you can and all they're going to do is put flashing down. But it was going to cost like 4 grand. I'm like, no, I don't want that. Yeah. I could do that. I don't want you to do that. I want to pour the foundation and do the right way. Anyway. And And whatever, it's still not done yet. Of course not. Just like I need my deck done and it still not done yet.

Yeah, but the deck's still okay shape, right? Yeah, there's a couple boards that are bad. Yeah. But it's the question is Marsha's like, well, if we're going to sell, do we have to replace them all or just the ones that are bad? I'm like, well, you replace the bad stuff and then you see where you're at. But the problem up there is people don't use flashing in between the deck and the house so that board gets wet and everything else and gets horrible. Yeah, you go. And dry rots. And I don't understand why they don't. Cuz it cost money. Well, to build it right the first time, you know. But then they get to come back and do it again. And then they got people that that actually don't use a ledger board, right?

What's a ledger board? A ledger board is the board that runs across the wall that you should put the flashing behind. They'll just do hangers directly on the house with no ledger board. That's a bad way to do it. And uh I think you should not even attach it to the house. I think you should put posts on both sides and then have it attached so it doesn't swing away. But cuz that's just extra pressure on the house. I understand that ledger board cuz we have one on the backside, but it doesn't stay good forever. And that's all said, why is my deck moving? Oh, because those hangers on the ledger board are coming loose. Because they used nails back then. There's got to be a better way. There is, but it's expensive.

That's the issue. The issue lies there. And the problem is you're going to put it into it and you're not going to get your money back for a long long time. Yeah, well, you know, if you got a cabin, you should keep it should stay with the family forever. You should put a deed restriction on it so your kids can never sell it and they have to keep it for the rest of your generations. Yeah, that's what you do. Yeah, but actually my cabinet uh my cabinet guy who sadly passed away at the early age of 55 um his farm is deed restricted. The The kids have to work it or lease it out to work it, but they can never sell it. I think that's a great idea. It's been in the family for like 100 years. Yeah, but eventually it's going to Look at the Yellowstone.

It eventually had to get sell sold. I mean, I'm just saying I know it was a movie and everything else and and you just things happen. I understand that they want to keep it, but sometimes things happen in in the life and so the question will be well what if eminent domain came in and took it? They can't stop that. No, they can't stop that and they and they'll probably get fair market value for it. Depends on who Well, actually they were doing pretty good. The county does decent. I remember um an agent in our office had a portion of their property taken away for by eminent domain and they came out um assessed the property, had the meeting with the uh husband and wife. Uh she was prepared with all the comps, all these things.

She was going to fight her fight and they said this is what we're going to offer you and she closed her folder and said we accept. It was more than she thought it was worth. Well, keep that thought. You're listening to Real Estate Jerky on Midway Co, MBA veteran and mortgage advisor lending for living alongside Re/Max Active Realtor Mike Kelly. Back to the when we were talking early on and just what you're talking about pricing. I had just a refinance that was doing in Sacramento. I ran the numbers through the system I always does which is usually right on 100 grand off. Really? Yeah, it was high so the appraisal came in at 585 instead of the 484. I was like what in Sacramento? Wow, I was totally wrong on that number which took him from the one program we had to a totally different program and changed everything for him.

Really? Wow. Must have been like his estimate. No, we because we through the system I use it's it's through uh what's the name of the It's like it's a canary something they so they do AVNs. Okay. And we normally use it for to do um second mortgages on and so you don't have to do an appraisal. So it's usually pretty accurate. Well, this was totally wrong which I was shocked. To the benefit of the of the borrower, right? Yeah. Well, it's just like when I had my house appraised uh four Novembers or three Novembers ago. I thought it was this and it came in also 100,000 way more. Oh, I like that reference to time. Three Novembers ago. You sound like Indian. Many moons. Which one? Uh I can't say anything.

Yeah, you might want to move on. Uh well, that was good for them, right? Yeah. Well, and then let's go back to the VA one I started with. How do we help somebody like that? How do we get How do you help somebody with like that? The only way is somebody to do volunteer work and or have the VA uh help out or tunnels for towers or something like that. But the question is I haven't researched it more on about her to find out what the disability was and how it was. So. So, but 100% disabled, 60,000 to replace her foundation is crumbling and cracking. Yeah. That's according to one of those foundation companies. Well, if you're listening and you have some advice um please reach out to us. Real Real Estate Jerky at Reach out to Yeah.

radio@realestatejerky. com. Don't have that Wait, good job there, Mike. realestatejerky. com. Sometimes I remember things and sometimes I don't. So, I a picture popped up because of you know this weekend face is the graffiti grandson eight years ago. What a difference kids when they grow difference from eight years ago till today. Right. Well, how old is he now? Yeah, huh? Yeah. Older than he was back then. He's eight years older? Yeah, eight years older than he was back then. I know. This same grandchild that did the the walk on fire. Yes, yes. Eli, firewalk Eli. The only one I only have two. One hasn't isn't born yet. The other one is older. Okay. So, you have one and three quarters right now.

Well, I should just look at what age my uh daughter is because it was 20 when she had him. So, that makes the math easy, right? I I have no idea how old she is. That's the problem. When you have so many kids, you forget all that stuff. Just like names. You You go through the names while you're yelling at them. Yeah, that's what my aunt used to do. Great, great, Mike, boys. All three stop. Yeah, cuz it takes a while. It does. All right, should we talk more about real estate? Why not? So, back to let's see if anybody out there can help us with that one or knows anybody who can help us, please let us know. If you know of any VA programs that I don't know about, please reach out to me and tell me what those are.

Where's the property located? It's in Tracy. Tracy, okay. Yeah. So, still Central Valley. Okay. Ish. Meaning you don't want someone reaching out from uh South Carolina. I got a guy. Yeah, like they listen. No, they Well, they could. I know Bay Area does. Yeah. But she listens to the radio show and she reached out because of that. Okay. Yeah, but there's no way to do I was first thinking just doing a cash out refinance and doing it. But again, fixed income, 100% disabled. That mean if you're 100% disabled single person and I'm just letting you that's about 38 to 3,900 a month max. Right. Yeah. From VA. From VA. Yeah. We can gross it up, but it doesn't help grossing up to pay your bills. Grossing up means there's no taxes on it, so we can add the taxes to say this is what it would have been if you had taxes.

Right. That's when we qualify you. But if you're on a fixed income, you can't do more. And she's on a her loan amount got low interest rate and everything else. Oh, so she's in a sweet spot. She's in a she's in a handcuff. Meaning can't get rid of that, right? Yeah, but you know what? What did you just You just thought of something, huh? Yeah, reverse mortgage maybe. Oh. But then I didn't cuz it's probably I have no idea, but it could be 6 to 700,000 enough to do it and enough to fix that and then she doesn't have a payment for the rest of her life. There we go. We'll figure that out. That It was interesting to watch that that face of yours. Oh, I got a thought. You know I do these. You watched that face.

Yeah. Oh, I got a thought. I'm Well, no, I'm just trying to think VA wise and not touch anything. But then if she could get rid of her payment now and you know Right. And get that foundation fixed and have money left over Correct. to live with dignity. Is that what that is? Well, that's what I would call it. Is Is that Is that his name? Dig dig dignity. We crack ourselves up. Sometimes somebody's got to do it cuz nobody else will. A little bit of levity goes a long ways. Yeah, so um there you go. I talked about a lot of stuff, so why don't you Take us out of here. Okay. Real Estate Jerky on Power Talk 1360 K5E is always bringing you the latest information on the real estate industry. And if you have any questions or comments about our discussion today, feel free to email us at this address, radio@realestatejerky.

com. All right, in the first segment we talked about national numbers. We were up about 10,000 to 806,198. That's such a fun number. Median list price was 450, uh 56 days on the market and price reductions are getting closer to 40%. 40? Well, at 37. whatever. By next week we'll be at 38 something. That's true. So, price it right from the beginning. That's the best thing you can do. Listen to your agent. Please listen to your agents. It's the best advice. Yep. Uh put a put a property on the market. All right, and then also we had um state numbers. What was the state numbers, Mike? The state numbers were 108733 or something like that. That's that's current listings. Current listings according to Redfin and 156 800 right around there according to realtor.

com. The difference between the two is realtor. com is everything multifamily, single family, condos, townhomes. Just single family. So, that's Altos. And Redfin is just single family homes. Altos. That's where I get my stuff from. Not not the mementos, but And in Stanislaus County we're right at 708 active listings or 705. And closed 800 86 800 86. 800 Would that be cool? That would be so cool. Yes, it would be a lot more every agent who moved on to something else would be coming back going it's time to come back. Oh, thank you. I'm leaving Home Depot. I'm not going to work at this HVAC company. Yeah, wherever they are. Yeah. All right, so that's where the numbers are. We also talked about the nothing's going to change in the with the rates or anything else until the straight of Hormuz is open.

They can they can raise rates. They can do everything. It's not going to stop the inflation until that's over cuz it's all about the gas prices and utilities which has to do with oil. So, that's what's happening over there. Right. That's the fact Jack. And we talked about a I'm looking for some help for a lady who called from uh from the radio show about having a foundation issue. She's on a fixed income and we're trying to help her out. So, if you listen to the show and you can get all that. And then it in the middle of that it looked like you had an epiphany. So. I did. You saw the light bulb above my head go on. I did. Well, that's probably what the sound was earlier. I got an idea. That was probably you making the noise and you thought it was you heard it from somewhere else.

Yeah. Uh one of the other things that our producer sent us this week was five backyard trends this year that are in and then four that are out according to landscaper, gardeners, interior designers. Well, before we get into that, I mean, we redid our backyard. We put a pool in. Yeah. It looks really nice. And then I added and we had this older pergola that's still there that eventually I want gone cuz I want to put a complete overhang in that area of the courtyard so that there's no feet down in the in your way. Well, you mean you're going to attach something to the house? No. Yeah, so we'll be attached somehow to the house. So, that's not extra square footage. That's just whatever. Right. It's just But I don't really care uh whatever it is.

But then we had this other area. Now I've turned that into my huge barbecue area which we have a Blackstone built into a thing. We have an actual full refrigerator out there. I have my Traeger over there. I have another barbecue over here and I also have a tool chest one of those rolling ones with all the utilities. I mean, you what's it utensils that you need for being outside. Did you mention the pizza oven? No, that's over there, but I'm getting rid of that one cuz I want to buy a new one. With a turntable and a microphone. Two turntables. But there's a new pizza oven that actually the thing spins inside and it's part of the heat and everything else where the one I have is a Uni. It's just the bottom so you're constantly spinning it yourself and you and you have to spin it a lot.

What happens if you don't spin it? Uh It burns. Yeah, well, it doesn't cook it doesn't cook real well. Yeah. On one side. Yeah. All right, so let's get into what they say. So, I've done a lot of this and then a lot of the stuff, you know, we were joking about before we turn on. It's like just go to Costco, buy everything there and that's pretty much what we did. Uh they have a nice round table or they did. They had a little fire pit inside. That's where we sit pretty much all the time because that's the shady part in the afternoon where our other area where the TV is and everything else in the afternoon, evening that sun is just beating on that. Yeah. Yeah. Yeah. Like baking you. You could be bacon.

Yeah, whatever. You know what I love about this article? Edible plants. The first the first one. I love this and how they worded it. Outdoor lighting is having a moment. Because they looks like they got wine glasses upside down. Yeah, and they're you know the outdoor lighting adds that ambiance and gives you that that look. It adds a lot. Cuz I put it into our the back area where the pool was and you know some plants and stuff is I added there. What a difference at nighttime. It makes a huge difference. Yeah, just be careful when you're in a homeowners association. Sometimes the uh the president of the HOA doesn't like the back door lighting because you're you're lit up like a uh airport. Well, it just depends on where it's at.

Yeah. Yeah, true. You're listening to Real Estate Jerky on Midway Co, MBA veteran and mortgage advisor lending for living alongside Re/Max Active Realtor Mike Kelly. So, back to So, we have I have lights all around each pergola. I have you know and that's that's enough. And I have it dimmed really low cuz I have the ones you can turn on and it goes off in 20 you know 4 hours later or 2 hours. But you can dim them down to 25% cuz I don't want it super bright. And then we have the stuff in the flower beds and what a difference it does make. Right. Yeah. Yeah, it does it does set off a a mood. Yeah, cuz when we have the light in the pool which Marshall likes, but it's it's bring more insects to the pool, will you?

My light brings insects to the pool. Yeah, whatever. Is that a song? It could be. It was it's uh No. Pavilions and pergolas are becoming backyard staples. Yeah, especially here cuz it's so hot. If you don't have cover, you're not going to be out there. Yeah. And if you don't have a pool, you're not going to be out there. And that's why we put our pool in, in case, you know, grandkids, other people wanted to come, cuz they were not going to want to go to grandma and grandpa's house and sit outside in the sun baking if you don't have a pool. Well, cuz I grew up on the west side. I had the uh the the uh cheap white person's um version of a pergola over an area. And then we had a margaritaville out in the front yard one time, and something you should not let people do.

Don't let four kindly inebriated adults try to take a pop-up down because we destroyed it. Gotcha. That was on the west side? That was we that's where I grew up. Oh, gotcha. So, I mean, everybody they're talking about how outside's becoming a true extension. Yes, up until it's 95. Yeah. Then it becomes uh up until 95 and then you go in the house. Well, or you need those misters or you need the fan with the mister in it so it cools the area down. Or you just need to sit in the pool. I still have to put those. Yeah, I still I still have to put those in. Yeah, you do have them ready to go. I just they just got to be zip-tied and put on in the whole nine yards. Yeah. I just been focusing on the cooking part uh cuz I cook a lot.

I cook a lot and I eat, you know, better now and Yeah. You like to eat. so much that every time I would go into a different store and I was like, oh, that meat's like only two days left on it. It's 50% off. Chat, what can I build with this? You know, recipe and it would deal all my sides. And so I turned that, all the stuff I've created in the last six months into a cookbook. A barbecue one. Oh, for yourself? Yeah. Well, actually, I'm going to sell it. Yeah. The big hangry cookbook. Big hangry cookbook? Yes, sir. For veterans? Veterans, it's veterans, families, anybody who gets hangry. There you go. Well, and that would be you. Um I like that the expanses of grass are starting to take a backseat to lushly landscaped yards, uh low water, stuff like that.

Well, they they, you know, they force us to put in fake grass and then they're like, don't put it in cuz it puts the stuff in the chemicals into the uh ground. Too late. Yeah, so we'll pay you to take it out. But you can't put grass in cuz we don't want you watering it. Right, right. Well, you know I mean, I like the grass we have in the front yard. You know what displaces a lot of water use? Pools. Pools. I thought you were going to say almonds. Yeah, no. Those those are on drip or flood. Um yeah, pools they displace you fill it up once and then you have the evaporation that you continue to fill, but it doesn't take as much as watering lawn to keep it green. But why is the pool blue? So there.

Huh? You said it doesn't take as much to keep it green. Yeah. My pool is dark. So uh so did you ever Yeah, and the one thing I run into is I want a TV out back, but the problem is I want a real TV for outside, an outside TV. And there's a difference because the darkness cuz, you know, you get that little sun on the ground, all of a sudden regular TVs you, oh, I can't see that now. What's going on? Yeah. But the problem is they start at like 1,200 bucks. There is. Yeah. Well, actually a little bit more, I think, for a good one. I didn't say this was a large one. I said they start off. Oh. Yeah, that's true. Yeah. So what's the difference? Is it the I brightness. And the brightness and then a lot of them are actually waterproof, too.

Just the brightness. Oh. Yeah. But I'm like, but then it's all dirty. Cuz you got to cover it anyway. Is it waterproof or just water resistant? It says waterproof. I looked into it. Yeah, well, you don't want to put those in the pool anyway. Yeah, well, guess what? That's the end of our show today. I want to thank you for being here. Mike, thank you for being here. Okay. Already? Thanks for having me. Yeah, feel free to email us at radio@realestatejerky. com for if you have any comments or questions for us. You can also reach out to us by finding us via web, social media, or like I said, shoot us an email. Give us a call at 209-404-1915. That's myself. For Mike Kelly, 209-968-5633. If you missed any of today's show, don't worry, you can catch that via podcast where you find your favorite podcast at.

We're proud living in the country can still build personal wealth through home ownership is possible. Join us here on Real Estate Jerky. We always give you something to chew on every Saturday at 12:00 noon and Sundays at 3:00 p. m. on Power Talk 1360 K5B. Mike, thanks for being on the show. Thanks for having me. My pleasure. Thanks for tuning in to Real Estate Jerky. We'll talk to you next week. Cuz we got small towns and farmland. Folks who still make a living with their hands. Where I come from a man is still a man. That's my California.