Fourth of July Real Estate Talk With Ed Parcaut and Mike Kelly

All right, let me make sure that everything is set up. Audio, bump bump. One more. Come on. Yeah. Do you need a mirror over there? There's a eyelash poking me in the eye. Yeah, it's probably connected to your face. There we go. 3 2 1. Welcome to Realty Jerky, where we always give you something to chew on. I'm your host, Ed Parco, MBA veteran and president of Lending for Living in our studios located right here in Modesto 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, iHeartMedia and the station KFIV, you can tune in and 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, Remax executive realtor. You ready to get going, Mike? Let's have fun with this today. Why do we not normally have fun with this? No, but it's the 4th of July, so happy 4th of July, everybody. Woohoo! Be safe and don't set houses on fire. Yeah, it's going to be It's totally windy today, so there's going to be some houses on fire. It's going to be windy. Yeah. There definitely will be. As long as But you know, you can turn in that person selling that stuff and make 500 bucks with the state of California. Which stuff? The illegal stuff? The illegal fireworks. Well, if you know who they are, right? Oh yeah, well, come on. Someone's buying it from somebody. So they went there, bought their stuff, and then they turned them in.

That's how you do it. All right, let's get in. We haven't been here in two weeks, and it's all Mike's fault, so we blame Mike. Uh, it's really hard to do it myself without Mike here, the whole show, even though I've done live radio here on 1360 KFIV doing that for two to three hours. I've done that, but that's okay. I prefer an actual this type of environment when we're doing this real estate. I know. It's my fault. I'm okay with it. Yeah, cuz I I I deflect. And Okay, whatever. All right, let's So let's talk about nationwide numbers. We haven't talked about it here in two weeks. We're up So last week we were like up Yeah. Let's do this. 14,000. This week we're up another 10,000. So that's 841,547 for ending of last week.

Median list price is 450, 450,000, and our median days on the market is 56. Price reductions keeps going up. It's up almost another half. So now we're at 39. 06 of all properties on the market will have a price reduction during the time that it was on there. That's almost 40%, almost 40%. What was that percentage again? Wow, that's high. Listen, sellers, listen to your realtor. I think Yeah, but I also think it's the market. Do you think that it's starting to decline a little bit? No, in other places, right? This is a nationwide number. Oh, this is a nationwide number, yeah. So you're a little grainy over there. Yeah. I had oatmeal this morning. I know you're not supposed to eat oatmeal anymore, but Why?

Cuz it's not good for your blood pressure? I guess. You know, they say things stupid things like that, like eggs are not good for you, and then 20 years later, eggs are good for you. Yeah, well, that's just They say stuff during the summer cuz they have nothing to talk about, so they do these things. They just like, oh, this is a women don't like this or men don't like this, and you move on. All right, so that's our number nationwide. And I know locally for the month of May, we did decent. You want to get into your numbers? Talk about Yeah, we can do We can do my numbers. Unless there was something else you want to talk about, like where have you been, what did you do? Cuz I know you went to Washington.

Mr. Smith went to Washington. I went to Mr. Smith went to Washington, D. C. That was actually Mr. Kelly went to Washington, D. C. Yeah, and hung out with the National Association of Realtors. It was legislative week. Realtors, I said, Realtors. Realtors? Um, although it was, you know, it's interesting to be in a meeting and have people come out and they say realtor. And And they are a realtor? They are a realtor. Yeah, and I'm like, oh my god, so you've said this wrong your entire life and nobody corrects you. So I usually yell out from the audience, it's realtor. Anyway, cuz I'm that idiot. And you go, I heard you're a realtor. Um, you know, it was interesting that this year Usually our legislators are there when we have a meeting with them, and you know, I'm a federal political coordinator for Adam Gray.

Well, he was in Merced, so we had a meeting with his staff, which was fine too. Um, we actually passed a bill that rightfully so, I believe. Trump said, I'm not signing it until we pay pass the Save America Act. Correct. And He wanted some power. Some power and And you know what? I think Because you know who wants that Save America Act more than anybody? Who? The Democrats. Because it's a I'm sorry, it's a horrible bill. It does not do anything for us. Right. It's it's all look what we did. You mean the real estate bill? Yeah. Oh yeah. I mean the manufactured homes and this and that. Really read into that. That's like we need more rent to own. It's pretty toothless. But let's go on. So that was that was fun.

So you're saying all the old people there are really behind it? Exactly. So I just have to have a shout out to Old Abbott's Grill. Thank you so much for the four days of feeding me. It was delicious. How much did you weigh? Oh, I actually lost 4 lbs. Oh, that's good. Um, state of California, we're looking at about 113,000 active listings, but we're looking at a median list price of 759, which is a little bit higher than nationwide, right? Yes. Los Angeles is looking at an average list price of 1,185, San Diego 900,000 average list price, San Francisco 1,001 average list price, and in San Jose 1,249. Isn't that interesting? Yeah, it's and it's going to get worse all over because of the SpaceX.

Although new people are worth a lot of money, who think they're worth a lot of money because they can't sell the stock, but they can borrow against it. And that's the difference, is they can't sell it. There was a period of time they have to hold it before they can sell it, and it's going back the other way, but they're still Most of the people had it. They've had it for 20 some years. It's the same thing that happened in Nvidia over in the Bay here. It just went up, but this is a lot of people in San Diego supposedly is buying down there. Before I forget, you're listening to Realty Jerky. I'm Ed Parco, MBA veteran and mortgage advisor at Lending for Living alongside Remax executive realtor Mike Kelly.

San Diego is going to be going up, and that is the one place that does not need to go up in value. No kidding, no kidding. Yeah, so but in Stanislaus County, we're looking at a whole 715 properties on the market. 715, wow. Wow. Um, there are almost three times as many Realtors in the area. Um, but we did finish the month of June. Well, there's still three or four days for people to report their closing at the end of June at 322. Earlier earlier in the week it was 317, and now we have five more. So see, it'll probably grow next week. Cuz everybody doesn't do their stuff like they're supposed to. They don't close their stuff out in the system as quickly as they should be. Gotcha. So that's the facts check on that stuff.

Um, yeah, I was going to say what about California? And then Well, I did California. 113,000 listings. Did you? What about the other number? Oh, the other You want the other number? Cuz that's single family only. Yeah, okay. So the other number Where is it? Right Where did it go? So what do you think about all these socialists winning? Oh, in New York? Colorado too. Oh, well, in Colorado? Yes. The whole state? No, not the whole state, just this one. Yeah, yeah, yeah. Well, I'm good I'm good with it cuz it's going to push people to go, that's not what I want in my party, and then they go the other way. Just the Denver area. Yeah. Exactly. Hopefully the, you know, elections coming up will show that that is not what we want.

That is communism. I don't care what you say it is. It is communism. So the other one In the 50s, you would have been thrown in jail and beat up. McCarthyism, yes, you would have. So realtor. com 153. 5 thousand, so 153,500,000 realtor. com says as opposed to 113. 153? 153. So that's the full number with everything. Yeah, with everything. So that's normally what you do. Single family one to four. Yeah, but I'm just saying that's usually what you do first, and then I ask you for the Or you do both of them? I do both of them, but then I got sidetracked. I got tracked on the side. Gotcha. What else? Well, I don't know. So what do you think about this market? I think I mean, that's cuz it's a unique market, very unique market.

We're closing very We're closing transactions. We're not going through the roof like we thought we were going to go through. Interest rates came down. However, because oil came down because of, you know, we haven't been here in two weeks, and the war was over in those two weeks, and we didn't talk about that mortgage rates came down because oil prices came down and 10-year came down. Now 10-year is going back the other way because of the stuff that's going on right now. And that's the problem. It's like Jaws when you you thought it was safe to get back into the water. Get back into the water. Oh, it had a baby. But I mean, but a lot of people like, you know, I can't deal with this anymore. I have to buy, I have to go forward, and that's just the way it is.

Well, I think that we can have to Things came out. Get your real estate and mortgage questions answered by the experts at Realty Jerky. Contact us at radio@realtyjerky. com. Call Ed Parco myself at 209-404-1915 or reach out to Mike Kelly at 209-968-5633. Tune in to Power Talk 1360 for our next segment. We'll be talking about local real estate and national here on Power Talk 1360 KFIV, and we'll be right back. I'm trying to stay in the numbers here, right? We had three seconds left, 2. 4 seconds left over. Can I back that up? Yeah, I just barfed all that stuff out. Yeah, all right. You can talk about it now on the side. All right, let me reset this. Do we know what we're talking about? Yeah, I'm going to finish my sentence.

That was wonderful. All right, here we go. Ready? Yep. 3 2 1. Welcome back to Realty Jerky, your destination of real estate information on Power Talk 1360 KFIV. I'm Ed Parco here with Mike Kelly, and we were talking about real estate and what's going on and what we feel about what's going on, and I cut you off right to do our eggs out. Well, you know, we've been gone for two weeks because I was gone for two weeks. Part was the one week with the granddaughters camping or glamping. They loved it. They loved it. They loved it. But you're saying, you know, during the ceasefire or the war was over for a few minutes and oil prices coming down down into the 60s, I believe, right? 66. No, 69. It never got below 67.

67 is what it was before. Oh, now all the kids that are listening are going 67, 67. I saw a spike in transactions through the office. Just I was paying attention to our office while I was gone, and there was a spike in transactions. So that little bit of adjustment in the interest rates had people come off the fence and say, okay, I got to Just like you said earlier, I got to do something and I got to do it now. I might as well take advantage of it. Well, the other thing was UWM gave 1% free buy down, and so that was ending June 30th. So everybody had to get in locked contract to be taking advantage of it, and I had some people take advantage of it. That's, you know, for an average 275 to 500 bucks savings per month for a year.

That's good. Yeah. So there. Yeah, so the So that's why you saw a jump too because of that. And they did 180 some million last year. Yeah, and since we're, you know, a whole four days into July, it's hard to say I'm sorry, 180 billion, not million. All four days into July, it's hard to say what July is going to be doing. However, It's going to be good after 4th of July. I think so. However, there seems to be a lot of buzz, a lot of activity in the office. I'm seeing more agents in the office. They've already done their vacations. I've done my vacation, and so they're back at work, and they're with listings and worth buyers. So there's a lot of buyers I see walking through the office. Can you explain to me what a vacation is?

Uh no, but you you might get one for soon. I'd like to know what's a vacation. Well, a vacation is when you go and you relax. So what I did was not really a vacation, Uh-huh. um but I had fun. I had three granddaughters in town from Colorado and one from Florida and we went camping and they really had a great time and it was great to see the joy in their face. That's good. Yeah. Yeah. And where were you camping again? Oh, uh Watsonville. So Watsonville KOA is a great place to take kids who are well, just a great place to take kids. You got all kinds of things you can rent. I'm sorry, where's Watsonville? Well, it's over by Santa Cruz. Okay. Yeah. As you can tell, I go I've only been the last time I was at really at Santa Cruz we did the uh a sprint triathlon.

Right, so you And we went and it was funny because Marsha's from Hawaii and she's like, what's this green stuff? And you're swimming in the you're doing the the Santa, you know, you're doing in the ocean and it's cold. I mean like freezing. This was like in May, April or May. No, and she's like, this is horrible, dark, you can't see anything and uh you know, Right. You know, Hawaii water's not cold. you have trash in there, you have wrappers and you have kelp and then you're and someone said, weren't you worried about sharks? I was like, heck no. I wanted to be taken out by one when I was halfway through that thing. Just get me out of here. I'm done. I'm done. Yeah. We did the beach one day. The the girls uh learned how to boogie board and uh then we did the boardwalk one day and so yeah, Papa dropped a lot of money.

And that's good. Yeah. Yeah, it was fun. Yeah, so and then I'm so in August 1st I have to go to Michigan for a wedding. Oh, that's right. Yeah. Michigan. Yeah. I wonder what the weather will be like then. 80 and 80. 80 and 80 80% humidity. Yeah, something like that. Uh my rep at UWM is laughing at me because they're in Michigan. I think that is like the worst time. And of course they picked a barn and I'm like, I hope there's air conditioning in there. Of course, you know. Oh. Well, it had to be probably less expensive. Oh yeah, really cheap. That's like California Association of Realtors when we used to have four meetings a year. They said, let's have the third meeting in um Palm Springs in July.

Yeah. Okay. So that way you stay inside and you're in the meeting. Yeah, pulled up pulled up to the hotel at uh 10:00 in the morning and it was already 110° outside. Wow. It's a shock. It's a shock when you Yeah, well that's like that's like, you know, friends of mine are in Texas and some they're like, it's the same temperature at night as in the morning. It's not like here where we get cooler and Yeah. Yeah, we get a delta breeze. Yeah. That would be miserable. Yes. Oh wait, it is miserable. Yes, very much so. Do we want to talk about um those places in uh the Central Valley? Oh sure. I'm sorry. I'm little preoccupied today. I know. You you're you're just trying to get things done, finished, right?

Oh, something like that. Yeah. Let me pull up my other stuff. Uh what do you want to talk about the the area, Modesto area, the values in Modesto area? Values. Yeah, I think you could start that off. I don't know. We got the again, we get stuff from our producer all the time. Well, because he's illustrious. Yeah, something like that. He's he's definitely something. Yeah. Yeah, he has his moments. We love the guy. So Zillow put just ranked the typical home values across the Modesto metro area. I'm just stuck with that metro. Modesto metro area. That sounds so strange. It sounds like this is a big area or something. Yeah. And you're listening to Real Estate Jerky on Power Talk 1360 KFIV and I'm Mike Kelly, Remax executive realtor here in the Central Valley right beside Ed Parco.

You know, he's an MBA, veteran, mortgage expert and president of Lending for Living. And when we come back we'll continue to talk about real estate and loans. Stick around and get information you won't find anywhere else when we come back. All right, we had five extra seconds. We got like eight seconds to play with for the whole thing. Yes. Wow. Let's talk about things. What do you want to talk about? Real estate. Okay. You want to talk about we kind of already did talk about the SpaceX IPO people. Yeah, just gently. Gently. Gently. Home values in the Bay Area's plunged. They did. That's what it says. More than anywhere else, it says. Really? Yeah. Yeah, because Emeryville, right? Yes. I'll bring this back in.

Yeah, then why don't we just hold on. Yeah, go ahead. Okay. And predictions. Okay. Welcome back to Real Estate Jerky. Let me do this over. Welcome Welcome back to Real Estate Jerky on Power Talk 1360 KFIV. I'm host Mike Kelly. I'm a Remax executive realtor alongside mortgage expert Ed Parco of Lending for Living. And we were discussing values in the uh Modesto metro area. I think it's hilarious that Zillow called it the Modesto metro area. That sounds so metro. Well, that just means that we're getting bigger. Yep. Much bigger. Yeah, what about the population of Modesto is these days? What I know it's more than 203. Right? Yeah, it's got to be. Yeah, because everything's changed in so in the period of time since I've been here and when I moved back, you know, you'd see that sign on the freeway and then it wouldn't change.

It's like I know people moved here. How come that's not changed? Yeah, so the Modesto, California area is approximately 220,058. Um no halves there. But the Modesto metropolitan area, so Stanislaus County is looking at 557,719 peeps. How much? 557,719. So how much was just Modesto? 220 and 58. That's it? Yeah, 220,058. Wow. That's more than 203. Yes. Well, that's that was a long time ago. I remember when there used to be only about 43,000 people in Modesto. Really? You're that old? Yeah, I am that old. Wow. I could I could claim social security, but I haven't yet. Why not? I'm not 67. So what? Someone told me I had to wait to 67. Who told you that? Somebody. I don't remember. Well, why don't you just look at your numbers.

Yeah. And you know, I had I told you that my little story about my social security card. So my name is Michael Dennis Kelly. Right, that was your problem, right? Right. No, yeah, my name No, I mean that something But my parents when they got me a social security card or number, um they said, oh, let's just call him Mike D. Kelly. Those names don't jive. So I had to get a new one with Michael Dennis Kelly on it. And what happened? Now I can check my numbers, but I haven't done anything yet. Before I couldn't register I couldn't get in because I couldn't verify my off my license and my security card. Oh, really? Yeah, so now it's fixed. Good. And it's you can't. Oh, I haven't even tried. Oh, you should cuz Marsha's like there's a whole thing.

I want to get into it. We can hire somebody to come on and talk tell us about it. But she the time the amount of money you lose by waiting to a certain age to draw your social security by the time you so if you wait those five or whatever years it says to get the max, you know, from 62 to 70, whatever that number is, the it takes you you're in a deficit for so long to get caught up that most people pass away before they even get close to making break even. Oh, well, that's a bummer. So so you take the just take it right away. Don't wait to get more of it is what they're saying. Gotcha. Cuz then you can max out. Correct. Yeah, gotcha. Gotcha. Well, it's not going to be much. That is correct. Yeah.

So what do we do now, Ed? I don't know. Let's talk about how home values have plunged in the Bay Area. Have they plunged? Don't you love don't you love those headlines? Well, again, like I keep saying, it's summertime numbers. Yeah. They have nothing to talk about, so they come up with these articles that don't mean anything. Well, they're picking on poor old Emeryville, you know, um back in 25, May of 25, things were selling on an average of $530,000. And now it's only $445,000. Oh, really? Yeah, drop of 16%. Is that crazy? Where's Emeryville exactly? I couldn't tell you because I've never been there. I mean, is it But I have a feeling it's isn't it in the North Bay? I if I knew that, I wouldn't be asking you.

Yeah, and I don't really know it, but Where's our producer? Get over here, producer. Tell us where it is. Producer, tell us. Give us your predictions. He does. He's not there. He's he's doing something else. He's like, I ran to the bathroom. All right, I know we've been talking about all this stuff, but I really want we'll get back into this Emeryville stuff, but I've been watching the World Cup for the last couple weeks uh and I really, you know, But it's funny though. Let me finish. No, you can't ask me. Let me No, I'm going to forget my thought. Let me finish. Okay. So what was funny is I watched CNBC this week and they were interviewing somebody from the UK talking about their what they're going to do and increases this and that and they were talking about I'm going to have to use like a soccer term.

Uh we're better in the first half than the second half, blah blah blah. And the lady's like, that's funny that you're using since the World Cup's in America, you're calling it soccer now versus football. Oh. That so that was my statement. So I did Yeah, it was not a long thing, but you had to fight me on it. I did. So what was your question? Did you play soccer as a kid? Yes. Okay, and did you play through high school? I played That's the only time I did play was high school. Okay, okay. And I was really good for for never playing as a kid. You were good for playing as a high schooler. Well, I was good. No, I was really good because I but I didn't play as a child. We didn't have a ball. They didn't buy us stuff.

We were poor. We were poor kids. You were dirt road poor. And, you know, dirt clods just didn't work well as soccer balls. They don't go as far. No. So I yeah, I played all I want to say all four years, but Three and a half years of high school? Yeah, almost, yeah. No, all four years of my five years of high school. Okay. You were ineligible the fifth year? No, I was ineligible one of the years. I messed up. We'll just leave it. That was my Yeah, it was Yeah. We all do. And then, you know, I came back I went out for track instead and then came back to soccer the next year. So what But then I did not play in in after that. What I'm saying is you understand the game better than most uh people who never played before.

Yes. Well, it's not that challenging. It's this little goal thing. You got to get it in there. No, I I understand that, but then there's you know, all the strategy, all the, you know, I I always I always laugh at um guys in with P-Wexford, they always have soccer guys in there when uh the tournaments are on. And they're screaming and yelling and I said, oh, somebody almost did something. You know, you got these scores of two to zero, one to one. Um there are crazy scores. Okay. Nil. Yeah. Could a nil? Not two to zero. Could a nil? Oh. Oh, well, I don't I don't live over in the UK. It's just how you say it. And it's the pitch. Okay. You're listening to Real Estate Jerky. I'm Ed Barco, MBA, veteran and mortgage advisor at Lending for Living alongside Remax executive realtor Mike Kelly.

I actually coached all all my kids except for uh Sydney and when they played in, you know, all the soccer and everything else. And the best one was Blake cuz he had no regard for human safety with the ball. Anytime any ball was around, he would just go for it. Yeah, and so I mean, I, you know, we coached them and it's great. It's great Yeah. He's going after it. uh, you know, using your feet and doing other things. I, you know, coordination, being able to understand where things go. It it's a it's a good program. People should have their kids in it. Yes, there's football, there's all that, but the difference is look at the soccer like us um the guy from Portugal and the guy from um Venezuela uh not Venezuela.

What's his name? Um starts with an A. I can't think of his name. Anyway, those guys are worth millions. They make so much money. It's ridiculous. Argentina, that guy. That's the guy I was talking about. Yeah. Argentina. I don't I only know Messi. That's the one I was trying to get at. That's Messi. See, you knew him. Where's he from? Is he from Argentina? Yeah. Okay. Yeah, he's been scoring incredibly this whole series. Yeah, well, that's how Do you call it a series? No. Call it the World Cup. But yeah, it's just it's just nice that everybody's The best part of it is we have all these people coming over from Europe and saying how amazing United States is. And unfortunately, it's because of ranch dressing, which I can't stand.

Uh you know, Yeah, and they're like So Heinz came out with packages that they can take on the plane cuz they're smaller packages. Yeah. Because they got in behind that so they can take it home with them. There was some lady that tried to uh smuggle two bottles of ranch. You can put it in your luggage. Well, yeah, you could check it, but But what? Well, she didn't. I know, but you can't smuggle it. It's just it's they're worried about having something inside there. Yeah. Yeah, because you know, nothing's as powerful as that 3 oz as more than 3 oz. Exactly. What are you But I mean, it's just what's what I'm kind of getting at is that's going to change also more people coming here. And that's going to change a lot of things that because people now see how they've been lied to in Europe by their media just like we were lied to with our media and stuff like that.

And uh MS Now or whatever is going to tape programming I saw the other day or something like that. Yeah. Yeah, so I mean, that's another station that is reporting really bad going on. Uh take freeze dried ranch dressing package back. There you go. The producer put it. Finally he showed up. Well, he woke up from his nap. Coming in a packet, you just add the the water? sour cream and the the other whatever you do with it. Oh, just the little oh, the those The flavor packets. Got you. Yeah, but that's not the same. You got to make it. Yep. That's like uh that's what my mom and daddy used to say about, you know, milk. Here just here's your dry packet. Just make your own milk. It's not the same. No, it it's not the same.

It's not milk. No. I don't care what it says. Yeah. I don't like it. But uh so everybody asks, you know, I so I root for USA and then when they don't get anywhere past the third round or fourth round, I go with France. Okay. Because that's just I like that team. It's my heritage, but it's I am USA all the way for everything. Cuz that's why I joined the military. Yeah, and um let's see. France I guess is like a powerhouse. One of the top ones. One of the top ones and so is Mexico. You know, the ones who's won so many times, those are the powerhouses. Yeah. That's true. Yeah, I was interviewing a guy this week from Australia. They're not over there. And they play a totally different actual football than, you know, they it's not rugby.

It's they play almost like football, but it's no pads, no nothing. I'm like, okay, that's why you guys have TBIs. Traumatic brain injury. If you don't know what that is. Brain injuries, yeah. Yeah. They probably have a nice All right. So we saw we saw um smear or whatever uh France socialist. Is that what that's supposed to say? Yes. Yeah, I'm not into that part of it. Yeah, it's just soccer. The the the one thing about France is the fact that they don't have air conditioning. We talked about this earlier this week. That's just ridiculous. Yeah, and they're fighting over whatever air conditionings are there. Um it has to do with the buildings. They they're not made for it and they don't want the units in the windows cuz it's going to make the buildings look ugly.

And it's more important to have the buildings look nice. Than people living? Yeah. Well, they also need them to move out of the apartment so new people can come in and that the only way to get them out is to have them pass away. So the hotter it is, the better to get rid of them. I guess they've lost like 100,000 in the last few years. That's a crazy number. Yeah, and then but that's okay. Cuz cuz yeah, but look at us with our guns. Oh my god. They they complain about us and our guns and but then they kill them with it just heat, no air conditioning. But we have less people anyway. Real Estate Jerky on Power Talk 1360 KFIV is always bringing you the latest information in the real estate industry.

And if you have any questions or comments about our discussion today, our entire discussion, feel free to email us at radio@realestatejerky. com. And in our next segment, we'll try to dive a little deeper into the real estate market. Stay tuned for more insights and information on Real Estate Jerky. All right, we got 10 minutes left. All right, what are we going to talk about? I don't know. Let's give them something to talk about. Uh Freddie Mac primary mortgage market. You want to talk about that? Yeah, that's fine. Okay, go for it. No, hold on. Give me one second. Drops sharply by 28 basis points year over year. Let me reply to this guy. Okay. All right, they cleared a condition but didn't clear the damn condition.

Jeez, people. How are your great grandparents from? Huh? How are your great grandparents from? How did they get here? Where are your great Oh, how did they get here? Where are your great grandparents? I can't talk to them. Oh, mine are from Ireland and they came through Ellis Island. Mine are from France and they came here. They're dead. I couldn't ask. They came to Turlock? No, they were actually Iowa. Iowa? My dad was an Iowa farm boy. And then he met my mom in Merced cuz he was at the Air Force base in Merced. Oh, and then moved out this way? He was a hellraiser. Hellraiser and yeah, some bitch. taught me two things. How to duck and life's not fair. Here we go. Ready to get going? Three, two, one.

Welcome back to Real Estate Jerky on Power Talk 1360 KFIV where we always provide you with the latest insights and information on the real estate industry. I'm Ed Barco, MBA veteran and mortgage expert and president of Lending for Living here alongside Remax executive realtor Mike Kelly. All right, we've been talking about a much bunch of different things. We talked about how the inventory is kind of I don't want to say stagnant but not really going through the roof and our sales are doing decent but not amazing. And I think that's eventually will change when we see this war completely over and and oil back, you know, staying down and getting below $67 a barrel and staying there and a few other things.

Right. Yeah. Being stable. Yes. Yeah. Um I think the sentiment of buyers who are still sitting on the fence are are waiting for that those things to happen before they pull the trigger. They're just too scared. What if I make a mistake? Well, if you buy real estate, you're really not going to make a mistake. Correct. Unless you're not looking at having a job. But if you're not going to have a job, buy the real estate now. Worry about it later. Create a new job. It's that easy. Is it that easy? It's just that easy. It is just that easy. Snap your fingers. Yeah, that's how that works. All right, and then we uh you know, we talked about local market and where our median price point is all over the place in our area in the in the Modesto metropol an area.

It still just cracks me up. Well, it's it's going to be huge one day. Well, it's getting Well, huge by comparison. Well, I mean, and but, you know, not until we get a soccer stadium or a or a baseball stadium. Yeah, and I guess that soccer stadium is kind of on a holding pattern right now. Yeah, we were only $43 million short. Oh, which is So they tabled it permanently. Snap the fingers. Well, if you don't have that money, you can't buy it. It just doesn't work. You can't just build it. It just doesn't come. And that And people don't realize how expensive things are now after the pandemic because construction costs in a three-year period went up 19 years of price increases. Or one year In one year, they went up 19 years of price increases.

Right. And then, of course, it never goes back. Yeah, once you get to the people the deflationary period. Correct. Um and one of the One of the costs that people don't really think about in that uh scenario is the demolition cost. Yeah, and and moving all the businesses. Yeah. I mean, that it would have tore up what the hotel and all that area. Yeah. Yeah. Right. Yeah, the Modesto Centre Plaza. That's why they were where they were thinking about putting the baseball would would have been bad but not as bad. Yeah, of course. Because it a lot of the people who moved to there were tore up because of the 132. Right. Well, they would have lost Clendenin's Coffee and I I guess where they were going to put the baseball It's on 10th Street.

Where's Clendenin's Coffee? Oh. Um Is that a historic Well, is that Or 13? I don't I don't know. I don't know. It's not historical, but they were going to keep the Founders Building for Gallo inside the park, the new ballpark. Oh, really? But it didn't happen. Um according to plans I saw, they were pretty cool looking. Yeah, I mean, again, you know, we need money and we need this in order to do all this stuff. And And we are still a small community even though we think we're a big community because of Gallo. And I don't mean Gallo itself. I'm just saying like Gallo Arts things and the stuff that we do have. A lot of small communities like ours don't have that. Don't have them. Yes. Yeah. Stockton's got the Bob Hope Theatre.

Woohoo! Who's Bob Hope? I'm scared. He He was that He was that guy that that that said the funniest thing about uh politicians. Oh, really? I I thought he was really into Phyllis Diller. Yeah, don't know that that was true. Now, he'd make jokes about her. Oh, yeah. Yeah. All right. Not Bob Newhart. That was the other guy. Bob Hope. Or not Bob Hope. What's the other guy that um did the roasts all the time? Anyway, we'll move on. Yeah. All right. We One of the questions our producer put out there is uh where are your grand great-grandparents from? And yours are from? My great-grandparents, I don't know. I never met them. I only know my grandparents were from France. And when they were here, uh they never corrected people on how to say our last name.

They would People would call them Parker or this, and they would just uh And then it was me that went back to the right pronunciation of it instead of the English pronunciation of it. And that all happened because I was in San Diego in the Navy and I started doing some acting and modeling and I didn't want to change my name, so I thought I just did Parco. It sounds so much better. And I got so much, you know what, from all my people in in the military. No, that's no How did they pronounce it before? Parcot. Really? Mhm. That's the English way. Yeah. Parcot. Yeah. I mean, that's Everybody in high school knew it that way. And then when I was in the Navy and my first two years and then back to, you know, Camp Pendleton and everything I was doing, and then everybody was like, "Oh, no, that's not H.

M. whatever Parcot. That's Parco now. " And they would give me so much Well, first time I ever saw your name, I thought Parco. I just thought that was the correct way to pronounce it. Well, you're just amazing. You're listening to Real Estate Jerky. I'm Ed Parco, NBA veteran and mortgage advisor lending for a living alongside Remax Executive Realtor Mike Kelly. If you have questions or comments for us, feel free to reach out by emailing us at radio@realestatejerky. com. And I Yeah, I am amazing, but I I don't know. It's just it That's the way it rolled off my tongue. I thought I hope I'm saying that right. Did you take French in high school? No, all my kids did. I took Spanish because I figured And then how are you in Spanish?

I suck. When I'm in Mexico for two weeks, I get pretty good, but I don't use it on a daily basis. I get really bad. Gotcha. You know how it is. Yes. You don't speak the language, you lose the language. My Latin is really bad. Is it? I I never learned it. Gotcha. All right. Uh so And my great-grandparents My Spanish is eh. Yeah, so I don't know my great-great-grandparents, but if you search Parco on uh in Google, it comes up with Ralph and he is a He was one of the world's big I mean, like a bodybuilder kind of guy back in there. He was a power man at the time. And then we have Wingwalkers and all that carnival stuff. Wow. You guys are circus people. Yep, that carnies. Carnies. That's how Keys was developed.

It used to be a carnie stop. All right. Where was your parents from? Well, my my grandparents on my uh dad's side were from uh Ireland. Uh I want to say Cork. But they came through Ellis Island and then they landed in uh Minnesota and um they were farmers. Yeah, see my They were Iowa farm boy Iowa They got to Iowa. And then from Iowa, somehow they got to Colorado. Yeah. Because that's all I remember. I only knew is my dad was from Iowa and then he was in the Air Force and my met my mom in Merced and all And that's how that all happened. And then um That's how you ended up in California. Yes and no because they were I It was So when they got out of the service, he We were in the Bay Area in Burlingame, and that's where I was born.

And then he worked for uh Mabelle, you know, AT&T. Yeah. All Then when they were all together in one big thing, and then you got a break them apart because they're too big. Yeah, not anymore. But now you can be in Monopoly. Just say you're not one. Ah. Yeah. Because it came in Monopoly. This is very true. Everything's okay. Yeah. I'm not one of those. All right. And so that's that's where we are with our people. And then because a lot of people are like, you know, I I'm American. I don't care where everybody's from, but I you know, I The problem with the World Cup is USA is just not I mean, we play soccer, we play We don't have the Messis, we don't have the Ronaldo, whatever his name is, people who makes I mean, those guys are making billion millions uh in just endorsements alone what they do for being as good as they are.

And But they're the They don't have a football a regular football team. They don't have We have a football, a whole, you know, NFL thing that's totally different that takes in soccer is secondary to that. Right. Right. And until that changes, which it most likely won't It'll never change. Yeah. It's just because there's too much money in the NFL. But I guess our team is fairly good, right? Which team? The USA team. I'm not saying they're bad. This is the This is the first year they've gotten past the third. And now they play They played this week and um we'll You know, we'll We'll see what happens. And I don't even I didn't watch the game the other night. I don't remember what happened. Yeah, I don't I can't remember where I was.

I think I was actually working. I was getting ready to, you know, get up I had to come back down for the show and now I'm going to go back up. I'm glad you did. Well, someone has to do it. You I can't, you know, be gone for 14 weeks. Can't rely on me. No. 14? Yeah, well, you're gone We were gone for two weeks. We apologize that we were gone for two weeks. Yeah. I am sorry. It just landed that way. Well, it's just It's hard to, you know, do this with just one person and you banned me from bringing other people in, so. I have not done that. And guess what? That's a wrap for today. Yes, all It's already at the end. I want to thank you for being here, Mike, and thank you for being here because we do this for you.

Uh if Don't If you have questions or comments, don't hesitate to reach out to us via the web, social media, or you can shoot us an email at radio@realestatejerky. com. You can give me a call, Ed Parco, at 209-404-1915. Reach out to Mike Kelly at 209-968-5633. If you missed any of the show, don't worry. Catch up via podcast where you find wherever you find your favorite podcast at. We're proud to live in this country and still build personal wealth through home ownership. Join us here on Real Estate Jerky. We'll always give you something to chew on every Saturday at noon and Sundays at 3:00 p. m. on PowerTalk 1360 KFIV. Mike, thanks for being on the show today. A pleasure to be back. Thank you.

Thanks for tuning to Real Estate Jerky. We'll talk to you next week. All right, we're good. All done. Cool.