Housing Trends, Fraudulent Practices, and Real Estate Insights for Buyers in California

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 host, Edward Ed Parco, 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 Parco, MBA veteran and president Lending for Living. Our studio is located right here in Modesto with our producer, Mike Murray. I'm proud to bring you the latest updates and insights on the real estate market in our community. Thanks to our partnership with iHeartMedia and the station KFIV, you can tune in, never miss episodes by subscribing to our podcast.

Stay up to date by following us on social media. Joining me today is Mike Kelly, a ReMax Executive Realtor. Ready to get going? Yes, sir. Let's do this. All right. What What happened to you over the weekend? Anything? Oh, no, not much. Well, we got um two new puppies. Uh our little miniature Schnauzer passed away about 6 months ago and we're finally ready for more um noise in the house. So we got Norm and Walter, one black uh miniature Schnauzer and one white miniature Schnauzer. So you're equal opportunity. Yes, we are. Ain't no race. This is my house. Uh that's nice. Uh our uh we my wife got a dog a couple weeks Yeah, a couple weeks ago and she's really falling in finally, you know, takes them like 3 weeks to accumulate.

Thank you. That's the word I was looking for. Penelope, right? Kind of acclimate. Yeah. She uh And you you knew they they taught her not to come into the kitchen. We feed our dogs in the kitchen. That's the biggest room where the food is, so why not just feed them there? But this she came from a house that they did the foster care and she was there for like 6 months. So she was used to not going. So she like, are are you sure I'm supposed to come through this doorway? Oh. Right. Yeah, that's that's interesting what they learned. They're so smart. Um my old Finn, I guess where he was raised, you know, bred, um he did not walk through doorways for like 6 months. He never wanted to go first. So Cuz you got tired.

You was being yelled at. He was getting yelled at or probably kicked backward so that he didn't go first, but before he passed, he was happy to go first. Yeah. Well, it's funny these two just rip toys up now, you know, they they pull. They just want to get inside. I couldn't get Annabelle to do it. That's the other passed away dog of my wife's. She would not play with George that way. These two, oh, they'll go at it for 20 minutes. I'm like, yeah, wear yourself out, please. Yeah. All the stuff now. Yeah. Having a blast. Yeah, go to sleep. Because I don't have to take you for a walk. That's going to be good. Now what's nice is they don't understand that word because George is kind of deaf, like really deaf.

What? Yeah, exactly. And the other one has no idea what it means. All right, let's get on some Oh, and then I last weekend after the stuff I actually we went to Vegas for a few days and one of the things we did is we went and saw the um what's that? The dam. Oh, there we go. Hudson. Huh? The the Hoover Dam. Hoover The Hudson Dam in the in the Hoover River. Hudson, you No, the Hudson is full of uh sewer right now. They need to clear that out. And they, you know, they've been letting that stuff go in for months and months and months and of course it's Trump's fault. Oh, it is Trump's fault, right? That's true. Is that a New York thing? Yeah. And I was like, that's horrible because that's when I did the Nation's Triathlon.

See how you got me on a totally different thing. I actually ended up swimming in the um is it the Hudson that's by the DC area? Yeah. So that's where we swam. Oh. Yeah. That's where you did your wet side? Yeah, the the the swim part. Yes, the beginning of it. The worst part of that whole thing was the fact that they had jet skis in the water. You can you can smell and taste that fuel that's coming out of them. It's like someone needs to get their carburetor adjusted. Yeah. Yeah. Anyway, let's move on. All right, so then we went and saw the Hoover Dam. The reason I'm bringing it up is it's amazing story and also heart-wrenching story because of, you know, how they I don't want to say take advantage, but, you know, everything So right now AI is getting rid of a lot of jobs.

Like last week Oracle laid off 30,000 people from an email. Oh. Well, during, you know, during when they're building the dam, it was during the Great Depression. So people come from all over the place. They had to build housing. They had to build everything out there and there was So they needed five companies to build this dam to do everything. And so they created a company together called the Five Companies. It was just amazing. All right. But what I'm getting at is they did this work and they did everything and they did it with tools that were just the way they were able to get it done with hard the wrong tools. I don't want You know, they didn't They needed to build things and so they Not the tools of today.

Correct. They didn't have what we have today to figure out They had a mathematician figure this stuff out. They didn't have a computer to do it, you know. They had uh They needed to move these extremely heavy stuff and they couldn't have it manufactured because it was so big. They So they ended up making a manufacturing site on site to make these things. And just all that stuff. And then they they finished it 2 years under, you know, under time and under budget, which is probably the last time our government has had people do stuff for it that was under budget and on time. Right. Wow. Yeah, and in on time. Wow. And they were they didn't have the fraud and the waste. The fraud part would be the fact that they paid their employees script that was only good at the company store that was only worth so much.

And I under You know, back then in the Great Depression, it was really tough for everybody. Well, and that's where they sold their soul was at the company store. Are you going to start singing for me? I almost did. Get your real estate and mortgage questions answered by the experts at Real Estate Jerky at And you can contact us at radio@realestatejerky. com. Call Ed Parco directly at 209-404-1915. Reach out to Mike Kelly at 209-968-5633. So here's I would say when I was doing that No, I was when I was saying that the first thing I was thinking You're saying it in a second. You know, it reminded me of Seinfeld. Jimmy loves the stuff. Jimmy loves the stuff. Yeah. Always talk in third person. That's like you can call Ed Parco.

Anyway, back to the thing I was talking about. So Hudson Not Hudson. It's Hoover Dam. Sorry. So my wife wanted to do this tour inside and everything and it was, you know, a all right tour. It wasn't like the most I You know, once I see something, I don't have to go touch it and everything and But she does. So that works for us in our relationship. And we'll move on from there. But it was just amazing what was done back in the '40s that we can't do today. Meaning they can't even California How much fraud is going on? 180 to 400 mil uh billion dollars in fraud and different things. Yeah. To be on time, under time. Billion, actually. Yeah. What did I say? Million, billion? At first a million, then a Yeah, I meant billion.

Billion. You said billion, million. Yeah. Oh, it's it's uh young young boy talk. Uh you owe me a billion million. Oh, $1 million. Oh, yeah. Yes. Uh yeah, the fraud is really gone rampant, especially here in California, I understand. Well, the problem we have is we don't prosecute and we need to get back to really prosecuting. And that was what some people were saying, you know, we hear about all this fraud, but we don't hear any about the prosecution of it. And they were they were JK came on yesterday or day before um and they were talking about it on, you know, on TV and stuff what they've, you know, went after some doctors and different things. But what about all those NGOs and all that fraud?

What happened to that? Um you know, I understand there's fights and everything about it, but that stuff needs to be fixed so it never happens again. Right. Well, and Cuz we work too hard to give our money to somebody to waste it. Nobody ever prosecutes the top guy. They don't prosecute They didn't prosecute anybody. Yeah. Yeah. That it's it's disheartening. All right, should we get to real estate now? Yeah, you want to do that? All right, so inventory nationwide is up another 9,911. I could swear we're in last week. Uh we're up 723,460. We're up about the same amount of number last week, but a lower number total. What? Last week here. Um So that's If you figure that's We keep rising. That used to be 600 and something.

Right. We've had steady rising in the last 3 or 4 weeks, right? Yeah, and the median days on markets about is 63 and the price reductions is 34. 45% across the nation. But remember last week there was an article that was like, oh my god, these areas have a 28% re uh price reductions in the area. Well, the average price reductions on average is between 30 to 36% we've had a year over year. That's just typical. That's people pushing the envelope, pricing the house too high because they're not listening to their agent. And then they go, well, don't bring us an offer. Nobody wants to bring you an offer overpriced because they think they got to write it over or at to begin with. Okay. Across the nation.

Yeah. Right. Right, especially in the first 2 weeks. And you know what the first 2 weeks is? The most important time to be marketing your property. Yep, exactly. Honeymoon period. If you don't grab somebody in the first 2 weeks, you're probably going to have to change the bait. That means reduce the price. Well, and that's And people don't understand that. And also be careful out there. We talked about this earlier this week about the one I've been dealing with for the past 2 weeks. Oh, you're finally done with that, huh? Yeah, thank goodness last week. And finally they woke up and saw what I saw from the beginning, which was these people bought a house on foreclosure. They were a nonprofit, so they got it at a very cheap price.

And then they have to turn around and sell it to affordable housing people, which is either the company's going to rent it to affordable housing or the person buying it is in the affordable housing area. That means they make less than 110,000 up to County. Right. And my, you know, And that's because of the deed restriction, right? Correct. And it has it on there for 30 plus years. That is a problem. 30 more. Yeah, well, 30 years or more. And that's Okay, well, And I was told by escrow and then they're tied on the beginning. No, it's going to go away. This is standard. And I kept pushing it, kept pushing it because I It's like, come on, this is obvious. Yeah. I have my master's. I'm not an idiot.

Yeah. That's standard. I know this is not right. This doesn't smell like a fish. Yeah, it does. Uh get your real estate mortgage questions answered by the experts at Real Estate Jerky. Contact us at radio@realestatejerky. com. Call Ed Parco. That's me, 209-404-1915. Reach out to Mike Kelly at 209-968-5633. Talking about a lot of different things. We're just now getting into real estate. Uh we talked about nationwide numbers and what's happening in the market. And in the beginning we talked about what we did over the weekend. All right, so what do you have for local and and California? Well, let's go California numbers and I think last week we were we were right Redfin was saying we were right around 94,000 and uh this week California.

I'm sorry, I'm stuck on red hot chili peppers in California. I know you are. And this week Redfin is saying that we're at 91,801. Now that's just single family homes. Uh at realtor. com has at 144,132. I'm sorry, what did they say they have for inventory? 91,801. Oh, that's in California. That's California. Um and then uh realtor. com looks at, you know, triplexes, triplexes, fourplexes and condos and townhomes. So 144,132. Moral of the story, still not enough property to drive prices down. Everything. No, and but And the problem has been the last 2 weeks is because we were at war with Iran and now we're on a 2-week sabbatical supposedly. We'll see what happens with that. War. Yeah. Sabbatical.

That sounds so relaxing. Exactly. That's what it's all about. We're not We're not going to bomb. Oh, we we said we're going to do a ceasefire, but we got to get these last ones off. Yeah, shoot this one to Tel Aviv. It's already there. We might as well hit go and then stop. You can see the one guy that says, oh, sorry. I didn't mean to push the button. It was an Oh, we didn't get back down to them until them we're on a ceasefire. Yeah. We're so sorry. It's like the Japanese guy on the island and then the American guy on the island. They didn't know the war was over. Uh but they became friends. You mean Gilligan's Island? No, it was a movie. Um That was Gilligan's Island. Active in Stanislaus County, a much smaller area than the state of California, uh 661 homes.

So that is single family homes, townhomes and condos. Uh not a lot. No, but I mean new and the new houses out there, they're offering a lot of money to get you to come in and buy their properties right now. Yeah, you're saying up to $25,000. Yeah, that was KB Homes offering 25,000 to use their lender. And like I keep saying, how bad's their lender? They got to offer that much money to use their own lender. Wow. Um I'm going to get in trouble with that one eventually. I know. Someone's going to call you. I'm I'm Mark so and so and you shouldn't be picking on me. I don't know who it was. I'm just throwing that name out. Mike or whatever. So I mean long story because I'm helping somebody buy one of those with a reverse mortgage.

Oh, that's right. How's that going? And It's going good. Uh so it's a reverse purchase, which means you sell your property up and they're coming from Idaho. They're selling their property and instead of paying full cash for the place, they're only putting enough down to offset what they have to put down, which is about 60 some I think 60%. And they're able to hang on to the rest of their cash. Correct. Right. So that way they don't have to like eating into the money that's in the market where the market money is supposedly going to keep going up over time and they need to, you know, everybody's living longer than they thought. Right. Oh yeah, damn science. It's the science's fault. Yeah, yeah, yeah.

I'm sorry, our producer is still on the Gilligan Island kick. I know, he's cracking me up. The Lost Japanese Soldier on Gilligan's Island. It was really a real movie. I think uh Yeah, sure it was. Lee Marvin was in it and he was the American soldier and they became friends. Okay, well when you remember that real movie, let us know next week. Yeah, I'm not going to Let us know next month. Yeah, when you're, you know, taking that shower and you're like, oh, I know what it is. I know what it was. And yeah. And then they redid that movie with uh Lou Gossett Jr. and Randy Quaid and they Lou Gossett was a um alien. Okay, whatever you say. And then they'll do it again. Mhm. So anyway, um inventory's still down, Yep.

prices are still up, demand is still pretty high even though we've been in this war for, is it been four weeks, five weeks now? Something like that, but the the biggest problem has been the rates going up. Rates went up to about six and a half, some and in some situations seven something, you know, if you're doing second homes and other stuff. Yeah. And then they kind of went down a little bit into the week last week. They've come down a lot more this week. So I'm going to I think by May, you know, if this ceasefire holds, because you're not going to see much movement until this is over, we're going to then we're going to see the rates drop real drastically drop. Okay. Yeah. It was I don't mean drop like 4%, but back to where we were in the fives for VAs and, you know, low low sixes for a conventional.

movie was Hell in the Pacific. Yeah, you can just can't say that on on radio. The Heck in the Pacific. Now there's a movie I never saw. That was a great movie, I thought. Uh-huh. That was one of those uh Sunday afternoons with uh chips and salsa and Coca-Cola with my grandpa. What a movie. Yeah, well mine was uh Rambo. Same premise. Not even close. They drew first blood, sir. So we we we received some stuff in the mail this week, didn't we, on the June 2nd primary? Oh, what? We have a primary June 2nd? Yeah, June 2nd, 2026. So you know Why are they doing the Oh, because they have to who we're going to vote for in November. Right. Why can't we just leave everybody on and vote for one person? Oh, because Arnold Schwarzenegger changed that for us.

Who we're going to vote for in November. Oh. Yeah. Yeah, they just reared up and bit him in the backside after he was done being governor. Yeah, well that's what happens when you're trying to rush things through to stay in power. I just wish the Democrats would do the same thing. And then lose power. That's exact Okay, it didn't did that long to read between the lines there, but No, it didn't. It did not. Um interesting things in the news today. Yes, yeah, let me tell you right now, you're listening to Real Estate Jerky. I'm Ed Parcaut, MBA veteran and mortgage advisor, lending for living loans I read Max realtor Mike Kelly. I need to change that because I do a lot more with Loan Squad today because I do so much veteran loans.

Yeah, oh, that's right. Yeah, so I still have lending for living for reverse mortgages. That's if you go to the website, that's all it's about, lendingforliving. com. You can figure out what you can borrow and then that way you don't have to talk to anybody. And then uh Loan Squad is for all, you know, people who have served. And so that will include firefighters and, you know, first responders, all those What's that one called again? loansquad. com. Squad. I like that. It's really easy to remember. Yes. I got my mortgage at Loan Squad. Yeah, and it's a yeah, it's a and things are I don't want to say improving for me, but it's amazing how we keep building more and more and I want to thank, you know, everybody out there who's comes to me from the the radio show.

Thank you so much. Appreciate that. Yeah, you guys can start coming to me too. They do, but they're already your clients. It's like, hey, he's on the radio. That's all we can tell this. You know, our illustrious producer sent us a couple articles to No, we didn't. to do some things with, but I like I like this this thing about our high-speed rail boondoggle. This um You mean the the new one to to finish it's going to cost 126 billion? Yeah, well they shouldn't spend one more dime on the thing, but a planetar planetier or planetier CTO, Chief Technical Officer Shayam Sankar said in 2024 for $10 billion, Elon Musk put 300 rockets in orbit. For $11 billion, the state of California has built 1,600 ft of elevated rail with no rail.

Yeah, you can see it every time you go south. It's right across the freeway. South. Yeah, it's absolutely crazy. And what I understand is the people who got wealthy on that um just have have wineries? Yeah. Three of them? Yeah. Their money in that one uh that one uh bank that the uh Biden's bailed out. Yeah, the only one bank that Biden bailed out. Yeah. The one that wants to have her she wants to be the first partner, not the first lady. Oh. Okay. Yeah, that person we're talking about, the same person? Yeah. The one who just got a house for nothing for millions of dollars but didn't cost him anything. And and your checks for free. That's right. All right. Good old Dire Straits. So that's the problem.

Yeah, that was a good song, I guess, uh of the time. So what are we going to do about this? We need to stop spending money. What someone needs to do on that high-speed rail is put a bunch of signs up there. This is what your Democrats get you by in the in this is what actually, let's take it back. This is what a one-party state gets you is what should be stated on there. So every time people go by, they can understand you need to have multiple, you know, multiple parties so that there is checks and balances in place. One-party systems do not help anybody. There's just rampant fraud because nobody's in control. And you can we've seen that. We've got so much fraud going on. The amount of fraud in LA County on stuff is just ridiculous.

Oh, it's nuts. Uh the what's that the um after your hospice fraud, you know, they had like three what did they have like 30 different companies in one little area. Um Well, they've got I'm knocking like one office. Exactly, exactly. And they've got probably the largest percentage of of all the hospice stuff is in LA on LA County. Um they I guess they arrested 12 doctors or something like that yesterday. I don't I don't I don't keep up with it. I just know that there's fraud. We need to stop it and the only way to stop it is to change the the people in power. And and this is I'd be saying the same thing if Republicans were in power and they were doing it. Um some people call me a libertarian. I don't think I'm a party person at all.

I just want small government, which is libertarian, and get out of my way. Um but I don't agree with everything. Yeah. Yeah, this is what If Republicans were in power I think they meant librarian. Oh, is that what they mean? Yeah, okay. Yeah. Um because I know the Dewey Decimal system. Is that what And we should put big large large big big big pictures of the people who benefit from the fraud of the high-speed rail on the high-speed rail. I think so too. And we should do that all over the state so people can see it as they go by it all the time. Yeah. Put a face to it so it becomes real. Yeah, because I'm really tired of all the, you know, every so the, you know, the ice is doing this and he was just a normal person going to work.

Yeah. Yeah, exactly. Well, that's like, you know, that's when they took rape and changed it to uh assault. It just doesn't sound any worse. Let's say what it really is. You're not supposed to be here. Go home, come back the legal way and then we'll talk. Yeah, maybe. But you're a rapist, so I'm not talking to you. All right, that's bad. Yeah, oh well, but that's me. Do you have you have you met me? No. Oh, that's who I am. So I I guess Gavin Newsom's joining the Trump train and blaming big investors for the housing crisis. And again, like I've said this before, in our area, it's not the it's not the investors. It's in the sun states, the Florida, Atlanta, those states have 24% of the single-family homes owned by investors.

That's where the problem is. Right. Right, and they're for rent. For rent. Right, and they're building all these and they're still building communities all just all for rent. They're building like the housing tracks. They're all for people to rent. They're not there for people to buy and that's where we have problems. Where we have problems. How kind of problems are we having? That's where why we can't build enough homes. Yep. This is Real Estate Jerky on Power Talk 1360 KFIV and I'm Mike Kelly, remix executive realtor here in the Central Valley, right beside Ed Parcaut, MBA veteran mortgage expert and president of lending for living and Loan Squad. And we were we were all over the place talking about um things we probably shouldn't be talking about because it's not really real estate.

So let's get back to some real estate stuff. Well, I think it's all connected um because if you have waste in one place, you can't put it where it really needs, like housing. Yeah. Oh, and it drives it does drive when you get that much fraud, it does drive prices up everywhere else. Well, they got to recover Well, I mean, we're wasting so much money on taxes. That's the problem. And we shouldn't have to pay as much as we do for taxes. And if we could cut that, we could use it to maybe make, I don't know, affordable housing really affordable. What? Yeah. I think it's just I think it's just a talking point. It's not that they really want to do it or accomplish it. It's just a talking point. Sounds great, gets you elected, then you go on to do whatever you're going to do.

Did you uh We got an article from our producer. You can add the illustrious. Um Illustrious producer. It was about the fact that, you know, hidden climate fee pushes families for needing a car. Yes. According to the coalition for affordable, reliable and equitable housing, oh, that was such a great words. Yeah. The vehicle mileage traveled migration fee could reach a 20-year total of 324,000 per home or apartment, roughly 16,000 per year or 1,350 per month. That's these people are why are Let's just cut the, you know, let's cut the budget, let's cut these policies that you put in place, wasted money, homeless, everything else. You If you were a busi And this is why people don't like Trump. He's a businessman.

If you don't have the money, you lay people off, you cut their whatever, you can't keep going. But it's only government, I'm sorry if I'm coming off strong, only government that you can say, you know what, we don't have enough money, let's raise taxes. That's what we do. Yeah, that's a ticket. They see that as the end-all answer to everything. So um the Oh, Did you lose your train of thought there? the billionaire tax in in New York. Yeah, but that's going to be coming here. And they're addressing it now and bring will be bringing it here. But what we'll see is a larger mass migration of billionaires and trillionaires out of California to Florida and Texas where it's cheaper and less expensive tax-wise to do business.

Um that's not going to help California at all and it's not going to help housing. No. You know, what's going to happen is these states, so it's the same thing we talked about before, when income tax was proposed and how it got passed was we're only going to tax the rich. And then the rich realize they have attorneys, accountants and other people to do They don't find them. They were put in there by the government. They don't find them. They're there. Finding them means that they make them up. Who find loopholes. Right. That's true. They find That's just my take on how you take it, but uh they're there for a reason. They read the tax law and they say, oh, we can do this. This is how we do this.

Yeah. And they put those things in there for their cronies while they build this. So the whole thing was we're not going to tax you, the low-income and middle-income people. It's only the rich. And then the rich can't They find a way around it and they go, we didn't make as much money off of that. Now we're going to tax everybody because it's already in place. We'll just make the change. That's exactly what's going to happen here with these new laws they're putting into place in New York. And if they try to do it here in California, it's going to affect everybody. And they're finally going to get be a point where I'm going to say bye-bye. Right. Yeah. Yeah, well the thing that brings me comes to my mind right away is the um the passing of the the study to study the possibility of a mileage tax.

Well, you know what that means. It just means they're going to pass a mileage tax. Mhm. They don't study it. There aren't enough smart people in California to vote no against that. Well, you know they're going to vote no against that? They're going to make it to where you have to vote yes to not get it. Exactly. Just like they did with the gas tax. The gas tax and my our roads are so much better now since that gas tax passed. With the getting rid of the gas tax. No, they're not. I remember a friend of mine who works for the public works was saying how it's so important for that gas tax to be passed so the roads can get fixed and they can use that money for that. Well, I don't know where that money is.

I I think I do. It's in the high-speed rail. No. The problem is they're able somehow Is Nancy Pelosi in charge of the budget? to use it somewhere else. And that was what needs to be fixed. If you pass a tax for something, there should be no way of moving it to anything else. The only thing you can do is cancel it and then get a new tax. That's how it should be. Yeah. Yeah. I'm going to tell you something. Modesto did it correctly when we passed Measure H. And Measure H's money that's being raised is being spent for exactly what it was supposed to be spent for. Are you sure? Yeah, cuz I'm on the on the um civilian um review board. So we meet uh once a quarter and go over budget and what we spent and what we spent it on.

So again, another thing going over budget. We're not going over budget. I knew you're part of the problem. Okay, Gilligan. The skipper's got a point. I I believe in Marianne. Yeah. Yeah. All right. So you go over what the budget is and then make sure you guys are still in what it's being used for. And what it's being spent on. And it's being spent on exactly what it was meant to be spent on. I'm so happy and and we're doing such good things in this city of Modesto with that Measure H money. So And what's being done? Like Orangeburg? Is that being done Is that why Orangeburg has been tore up for the last few weeks? Partly. But And why And why some of the other streets around town that you can't get around?

That's probably That's probably Measure L uh that's doing the streets, but we're doing we're What's H for then? H is for um police, fire, um parks, trees, stuff like that. Stuff that we just couldn't take care of before. But they're not still not taking care of my trees. Who Who pruned pruned your trees? Nobody. Oh, okay. The city still needs to come do them. They They are behind. You're listening to Real Estate Jerky. I'm Ed Parcaut, MBA veteran and mortgage advisor, lending for living and Loan Squad, alongside REMAX Executive Realtor Mike Kelly. All right, so we were saying about trees. Well, we were before we were behind like 10 years, 15 years on on trees. Well, they're not They're not doing the trees.

They They actually are. Where? All over the place. Just not just not in your neighborhood right yet. They're not doing They're not doing the trees. They don't care about them. They want them all to die and go away so they don't have to spend money. You want to bet on it? Oh, that's not true. Yeah. Cuz then they want you to put uh fake grass in because of the water, and then they want you to take your fake grass out because of the chemicals that are leaching out of it. Uh and I mean back and forth. It's like make up your mind. Let's do stuff that is important and not, you know, go back and forth on everything. Yeah. Well, I I don't know that we're doing any of that stuff here in Modesto. We're not asking you to take the trees out.

In fact, we're going to plant some more trees. Um Well, I got one dying and it's like an act of God to get it to be cut down and um and Cesar Chavez Park that's about to be changed to a a new name. Do you know why? Yeah, because he's He wasn't as nice as a guy. Well, you know, nobody's perfect. Nobody is perfect. Yeah. I think, you know, Clinton, they should not have anything named after Clinton. I mean, you can go through anybody and everybody. I mean, that's the problem. You You have to go off of what they do. The thing that made them to put that thing up originally was what he did for the workers. Focus on that, nothing else. That's not where the world is right now. That's not Yeah, well, it's like they put So and they're redoing Martin Luther King Jr.

Park. That's okay. Trump's going to get all their statues and bring them to the White House just like he did with Columbus. Tear them down. Tear them down, bring them over here. We'll put them over here. And we're going to put them in the Rose Garden. Yeah, cuz that's, you know what, nobody's perfect. And if you think they are, you know, they're good in business, some they're messed they're messed up in personal life. That's if they're good in personal life, they don't do well in business. I mean, there's really hardly do those. I mean, there might be the exception to a rule. Um because look at Elon Musk. I mean, his plan is to have so many unwed babies. It's amazing. Is that his plan? No, I just He doesn't marry.

He just has, you know, he he has a bunch of kids. But the long story short is he's he's horrible probably personally because he's so focused business-wise. You can't use that against him. Yeah. You know, and and when I was born, I was not singularly focused and I'm still not. And I kind of wish I were singularly focused. Why? I I would probably be more successful in certain areas. Well, then the problem then you you might be, but then you would be by yourself. Yeah, I wouldn't have as many friends. Yeah. And you can't buy He who dies with the most friends wins. Really? Yeah, that's I thought who lived the longest out of their friends wins. Well, that's just sheer competition. All right, so we went through the make uh the some of the things that our producer gave us, which was the law that will make, you know, housing more expensive.

We talked about that. We see We talk We didn't talk about this uh shift seen in home prices, housing market. There's a lot more home affordability than mortgage than mortgage rates. Also need to consider home prices impacted by several factors, including inventory and buyer competition. We didn't talk about that, but we talk about that all the time where there isn't enough homes on the market to make prices more affordable because when you have more inventory, you can't ask so much for the home. You have to be more competitive. And when if it's one of the things to be more competitive is to make sure you're buying you're paying the buyer's commission. Right. There's been there's a couple companies that they just list the house.

They don't care about the buyer's commission and then come back and say, oh, by the way, our seller doesn't want to you to pay this. So if you want this house, you'll have your buyer will have to pay it. Well, a lot of buyers don't have that extra money to do that. Yeah. It's It's Yeah, they've got enough to They've been working like crazy. They've got enough to be able to have the down payment and their closing costs. So what's what could happen is then they're going to ask for closing costs Right, they're going to ask for that 3% to cover that. from the seller to cover to cover their closing costs so they can pay their their broker. Now, what you don't want it to do, and even though it's legal in the state of California, is dual agency where you represent both the buyer and the seller.

Um you don't want that to take over because um Unless you get paid for it. you can You can never truly represent 100% of each each person in a relationship like that. Didn't you think the other way for a while? Cuz that's that's my take on it unless you're doing a short sale. I've Well, yeah, I've I've done it. I've done it successfully. I've had both a happy seller and a happy buyer. It is difficult. Um it puts you in a weird position. Uh and it's not I I don't think it should be recommended. But there are so many agents out there. Uh one I'm I've adopted a new buyer from the person that uses this agent whose model is to double end everything. Um I can see that because you make a lot more money.

You are making a lot more money. You know, it's the same transaction. You just make twice as much. Yeah, but it's it's so wrong. And it's so self-centered. You're not really working for either client. Well, you might not be, but they think they are. And my problem is it's really difficult to represent get the highest price for your seller and the lowest price for your buyer. Exactly. Real Estate Jerky on Power Talk 1360 KFIV is always bringing you the latest information on the real estate industry. And if you have any questions or comments about our discussion today, please feel free to email us at radio@realestatejerky. com. All right, so in the first section, we talked about what we did, where the nationwide numbers are, and and be in the B block.

We talked about what California numbers are and the local numbers are. And then we've been going through a bunch of articles that our our illustrious producer gave us. One of the things I want to get into is about tipping because I I really hate tipping. Um I like when I went when I did the Camino de Santiago through Spain, they were insulted if you tipped them. And I think we should get back to that in California. Yep. Oh. Right. Was it the type of tip you were giving them? You were telling them No, they just They don't want a tip. It's not Yeah, exactly. Hey, get an umbrella. Wear a jacket. It's cold out there. Don't wear your socks in the rain. Yeah. You might get a cold. So they they're They think they're being compensated enough for the the product and and service.

Right. And you know, in some companies, you know, some restaurants will charge a fee for, you know, so many people there, which is okay cuz that's a lot of but, you know, they want They don't pay them enough wage-wise, and then they want the tips to offset. Just pay them a regular wage and then just put the food at the right price and then move on. Yeah. Yeah, I agree. But I mean, if you're going to give me horrible service, I'm not tipping you. Period. What's getting me in Calif in a lot of places are um drive-up, you know, drive-up windows or Getting a coffee. getting your car washed through a drive-through car wash where you stay in the car. Would you like to tip us? Well, you're not doing anything other than working the controls.

Hold on. I want to get I don't want to get on my car to push you over. I shall tip you. The problem is it's horrible. I mean, they're talking about among restaurants, you know, in California itself. Let me see if I can pull this actual article. 17. 25% on average? Yeah, California has the country's worst tippers according to Toast. That's because we pay so much for everything else. I mean, when I came back from Vegas, I could not believe $7 for diesel. I was just so happy I was in my wife's car. And I think we filled her tank twice. Did you look at what it was Did you look at what it was in Nevada? Uh no, because I only had to fill our car up once. Okay. That's the I love her Lexus a Lexus. Her Lexus 16-gallon tank.

We filled it up on the way there. Yeah, well, it was already Yeah, well, it was not full, so we filled up. And then we went to Vegas, filled it up on, you know, part of the way, and then didn't have to fill it up until on the way back. So that's twice. Drove to Vegas. Yeah. And it was like you're driving? Yeah, cuz it's 2,200 bucks to fly there. How's it 2,200 bucks? I only do just just suites if I'm going to fly there. Well, there Yeah, yeah, you're not doing a commercial flight because it's like 60 65 bucks out of uh Stockton Stockton on Merced. No, because 5 hours. Yeah, but then they don't always fly on time. You have to Sometimes you got you got two people sitting in the same seat. Yeah, I mean, I like the Stockton.

It was pretty good the few times I did it. But, you know, it's And then again, those they only fly on certain days. They don't always fly on every day. So that's the thing you run into. You have to move your schedule around them. Same with the one in Merced. Yeah. There's one in Merced that does the same thing. But I really like the one in Stockton, especially when it first was doing it. Was that Allegiant? Allegiant because as a veteran, you don't pay for your your bags. Oh, okay. Yeah, you just tell them you're a veteran and then you're like, okay, well, your bags are free. Put them through. That's nice. Bags should be free, period. They should just charge the right price and everything is covered like they used to do.

Is that what you're saying? Yeah. Yeah, but that's more expensive. Yeah. So tipping, um what do you think about it? Do you think we should tip or should we keep it, you know? I I If you're not doing a good job, you're not getting tipped. And the fact that you expect it, it's like, you know, your hotel in the valet brings your car. Okay, how else am I supposed to get it? What What does that have to do with the tip? I mean, That's everything. I have Yeah. I, you know, I don't want to park in self-parking cuz it's, you know, over there or wherever it's at. I understand. I'm already paying 30, you know, they're not cheap. They're like $24 to $45 a night for the for a valet. Well, why don't you give five bucks of that to the valet?

I I went to Las Vegas Light, which is Reno, for March Madness with a buddy of mine and uh we valeted. I just thought, you know what, it's a long drive. I'm just going to valet. Boom. Didn't know what it was going to cost. Paid We were there well, basically 5 days. Um $25 For 5 days? For 5 days. Well, that's Five bucks a day. Well, that's what happens when you go to the crack place. Well, yeah, but but crack was free. I know, but it's Reno. I'm sorry. It's not Vegas. Vegas is owned by each, you know, each part of the strip's owned by a certain company. Every one of the hotels on that those parts of the strip's owned by a certain company. That's the difference. You're listening to Real Estate Jerky.

I'm Ed Parcaut, MBA veteran and mortgage advisor, lending for living and Loan Squad, 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. It is Reno, but Right. Yeah. Yeah, I mean that And you find out who owns all the hotels. There's there's the Hard Rocks coming in. It looks like an actual guitar this time. Right. It looks pretty darn cool. Yeah, it'll be neat when it when it's finished. Yeah. And again, then it'll be sold to, you know, one of the three. Hilton? I'm just saying, but that's how that works. They build them and then somebody buys them and then they own the strip because I mean, the house always wins.

I I I walked away with 100 bucks less than I took there to gamble with. Yeah. That's not bad. Well, I know I won a lot and then but the problem is I also paid for things out of it. Right. Right. Um but anyway, I was I was surprised that it was only 25 days for 5 days and 25 days for 5 days? I mean five $25 for 5 days. Uh I it was surprising. Cuz you really didn't remember what it was. Oh, I haven't been to Reno in a long time. You know, I think the problem has been is your it was your birthday week this week and you got older and now you can't remember. Yeah. Well, yeah, I am 65 now and so everything has gone out of my mind. It's just the way it works, you know. Well, you know, wife's happy. I told you that yesterday.

You did? Yeah, exactly. Yeah, but I do when I sleep I do a hard reset. It's almost like I don't have the the what is it? The the you got random access memory and then you got what's the other one? ROM? Random access memory. I don't know. You're telling the story. You're the big computer guy. Yeah. Yeah. I don't know. I you know, you're the big computer guy. You got it going on. Well, I got a few things going on, but we'll move on. We don't have enough time to go through all those. All right, so what to do about real estate if right now is the time to be buying because soon as these two weeks are up and this, you know, I think competition will come back into the market. Yeah, cuz everybody was like, oh my goodness, we're in a war.

We it's World War III. It's going to everything's going to fall apart. Now, the problem is the people are tired of how they had control over the straight and can just like we're going to bomb ships and you're going to do what we want and give us money. Well, that's we need to stop that. So we'll see how it all ends up. I hope it ends up the way that I want it to end up, but we don't know if that's the case. Yeah. Yeah. We got a few days to think about this. But you know, the the no matter what happens the you know, the Trump derangement syndrome's going to keep going on even if it's even if it's all fixed perfectly. He did war crimes, the 25th Amendment, all that stuff's going on right now and it's like shut up and just be, you know, okay.

Yeah. I think the what the wonderful thing would be is if Trump would come out and just make an announcement about how fantastic oxygen is and then we can get rid of most of the TDS. Yeah. Put plastic bags over their face. No, they won't. Not not breathe. Sky is blue. No, it's not. All right, what else I have to go Oh, mortgage applications we didn't talk about. They came out very light this week. I wonder why. Yeah, so if they look at the end of last week cuz it's always a week behind, the overall application volume increased by uh 8/10 of a percent. Applications to purchase were up 1% for the week but down 7% year over year. Refinances decreased by 3% from the previous week and are now 4% lower than one year ago.

All that that tells you how bad the rates got when things slowed down over the last two weeks. Yeah. Um And bad compared to where we bad. It's like a bad you know. I thought you were a little goat. Goat boy. Remember from Saturday Night Live or something? Yep. Uh What was I going before you got me sidetracked? Uh the rates are Yeah, well the rates have are not anywhere close to where we as high as they've been in the last 5 years. You got yourself sidetracked. Right. They just the people like, well, they thought they were going down. Now they come back up. I had a guy I had a refinance ready to go. He goes, oh, I don't have time to sign the, you know, the five places you sign cuz he's going on vacation.

I'll get I'll handle it when I get back in 10 days. Yeah. You should have signed before you left. Rates are a little bit higher, huh? Just a little. And he was probably going to sign via uh computer? Yeah, electronic. Click click click. No, he didn't have time. Oh my gosh. That's a busy busy guy. Guess what? Oh no. Is it? It's a wrap. Huh? Yeah. I want to thank you for listening to us. I want to thank you for stopping by here, Mike, like we always have you each week. Yeah, thank you. If if you have questions or comments for us, you can reach out via, you know, wherever you find us on the web, social media, or shoot us an email at radio@realestatejerky. com. You can give me a call at Parco at 209-404-1915.

You can reach out to Mike Kelly at 209-968-5633. If you miss any of the show, no worries, you can catch up via wherever you find your favorite podcast at. For proud to live in this country and still build personal wealth through home ownership, join us here on Real Estate Jerky. We always give you something to chew on every Saturday at noon and Sundays at 3:00 p. m. on Power Talk 1360 KFBK. Mike, thanks for being on the show today. My pleasure. Thank you, Ed. All right, thanks for tuning in and 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.