Why Rising Inventory Could Give Serious Buyers Their Best Opening Yet

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 Parko, 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 Parko, MBA veteran and president Lending for Living. Our studio is 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 and 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, a REMAX executive realtor. How's it going, Mike? Oh, it's been really good. It was a good week last week and it's a better week this week. I had a great four-day weekend last weekend. Yeah, it was kind of interesting. Except for the radio show we had to do. I had to come in for that. Yeah. Well, what are you going to do? What are you going to do? You just got You got to do your the requirement. It's nice having a Memorial Day weekend and it wasn't so hot. You know, it wasn't wasn't bad. I mean, Saturday was a little warm, but Sunday was much better. Well, I remember 2025, I think it was in the hundreds. Yeah, that was And we looked like It came up on Marsha's Facebook thing about We did that one table like seven years ago or eight.

So the last time they did the one table downtown where they had the table on the street. Oh, yeah. And that was like hot that year. It was like 98 or something like that. Yeah. That was like Data Path that put on that on hot. Yes, correct. Yeah. Yeah, that's a very interesting concept. I like that. Yeah, well, I like Yeah, it's close the road now. Next time close the road with a lot of trees, will you? Let's tick off the majority of the Modestans who have to go around your um Your table. Banquet. Yeah. It was It was good. It was a good fundraiser. They should bring it back, but move on from here. All right. So anything happened over the weekend I should know about? That's right. You had your uh texting.

I mean, your uh your party. What did you have on Sunday? I had Northgate Porchfest and it went really well. So you So instead of doing it So here's the thing. College, the weekend before had the Porchfest and you didn't want to compete with College Area and La Loma. Porchfest, right. No. And La Loma, right. And we I mean, it was There were so many people that weekend all over the on Sunday, I guess. Well, and they've got I don't know how many homes they had total, but I I remember seeing, you know, they put a Porchfest sign in front and then they put the number that they are. I think the highest number I saw was 71 and I know they had more than that. I don't bother to read anything to know exactly what they had, but they had more than that.

So I put out a Northgate Porchfest sign and just said one. Well, maybe next year you can get more people. I think I've got two two neighbors that would like to do it. They're they're not neighbors on the same street. That would be ridiculous, but they're neighbors in the in the hood. Uh four bands. Um we had So they play for an hour? How long do they play? An hour apiece. We had Siren that opened the show. We had uh Naked Pancake. Who is Siren? Are they local? Siren is a mostly I got to say mostly all woman band. They they, you know, they said, we're an all woman band. I said, well, except for that one guy back there playing guitar. Maybe he just identified as a woman during during the playing of the guitar.

What does he identify as? And during the playing of the guitar. And then uh Naked Pancakes, uh all local bands. Naked Pancakes was pretty darn good. Well, all local except for Harbor Drive. Um So that they What music did they play? Harbor Drive played a lot of originals and I think one one cover. I was talking about the other two. The other two played all covers. Maybe I think I mean like of what? Well, it was Okay, Tom Petty, uh Chicago. No, no Chicago. Uh Doobie Brothers, Steely Dan, Sticks. Some older stuff, you know. So old stuff. Steely Dan, Mac? I do have a neighbor in the area whose son uh was in the band Sticks. She came down with her Sticks t-shirts and her backstage pass around her neck and um Siren played a Sticks song for her.

She was thrilled. Um Naked Pancakes and then closed the show with Regal Beagles. Um and they play a bunch of covers as well. So a lot of fun. Like the like the '50s and '60s covers? No. When you said Regal Beagle, where was that from? No, I know. That was That was Isn't that a show? No, that was a Regal Beagle was a place people went to. Wasn't that on Happy Days or I couldn't tell you. Yeah, I don't know. I If I told you I If I had my chat GPT, I could tell you that. You could do it. Um and I did I did secure a taco trailer uh that day and um formerly known as Flacco's Tacos, no longer. It's Taco Taco matic. Delicious food. Um about 120 um participants as far as viewers and listeners and had a great time.

Went from 12:00 to about 5:00. It was only intended to go 12:00 to 4:00. Oh, I'm sorry. The Regal Beagle was from Three's Company. Oh. It was a fictional pub. Okay. On TV. And who were the characters on that? Well, um you had Suzanne Summers. No, I'm talking the names of the characters, not the Oh. Was it What did they call her? Jack, Janet, Chrissy, and Larry, and Mr. Furley. Chrissy. Yeah. You're listening Hold on. You're listening to Real Estate Jerky. I'm Ed Parko, MBA veteran and mortgage advisor and Lending for Living, alongside REMAX executive realtor Mike Kelly. Not I mean doing that, you lost what you were going to say, right? No, because So the Regal Beagles, their um their big banner is uh Don Knotts dressed in his yellow leisure suit with that funny look on his face.

What was his character? Mr. Furley. Mr. Furley, okay. Anyway, it was a lot of fun. So you had no idea the Regal Beagle was from Three's Company when they had him on there. No, I did not put that together. And you know, I didn't watch a lot of Three's Company. Neither did I, but still. And those are probably brain cells that I eviscerated a while ago. Okay. So But it was a lot of fun. Um and we're I didn't know you were a Sticks cover band by where it says Sticks cover band. Yeah. Well, the sirens, you know, they're called They're not sirens, they're siren. Um but I was going to try to find some crepe um papier-mâché rocks that everybody could crash into. I was going to say, yeah, do you really know what the sirens were?

They'd be called the the ship people over so they could crash on the rocks. Yeah. Exactly. Yeah. At least you knew something then. I loved mythology as a kid and I still do as an adult. Anyway, how was your weekend? My weekend was good. I did more work out back, cleaning up uh the little one area that we built out with all the different stuff for barbecuing and I have so much stuff over there. I was like, you know, we need a rug here to finish this area off. And so we went and bought two matching rugs for outside because we had one in the other area, but it was time to You know, they only last a year and you got to replace them. Mhm. Well, we we always leave them out all year. I Well, I usually roll it up during the winter just so it doesn't get because ours will get all wet and I don't want that in there because if you know anything about Modesto, it gets wet and then it's like next thing you know, it starts mildewing or whatever.

Yeah. That stinks. Because I remember my stuff in the backyard in concrete before we replaced it all, it would get green. Yeah. Hey, you you got a stinky rug. Yeah, anyway. So it's just nice and you know, and then now it's all set up and I just need my new pizza oven. Yep, and that's coming. Uh no, I haven't bought it yet. So yeah. Oh. So it's still coming. Yeah, someday. But because I want the one that rotates because I'm tired of rotating it and not getting it down fast enough. Someday. You know what? We should invent We should build a pizza oven that rotates, not on the inside. On the outside. Yeah, it doesn't work the same. It's got to be the I don't think they have the They probably have the patent on the technology of it, but you could probably figure it out yourself, different technology.

But that was like Once I saw that, I was like, that is exactly what a pizza oven should do because all the other ones do that. Yeah. I wonder how the mechanics last because it gets hot in that oven. Yeah, but not in there. It's probably because they have the flames underneath that comes up through the pizza. I guess we shouldn't be talking about this on Real Estate Jerky, but anyway. And then they have the heat that comes across the top and or wood you can add in and use that instead of the heat across the top so you can get the true wood burning taste of a wood fire pizza. Oh, okay. Well, we do promise information you won't get anywhere else. That's right. Everything we're looking to do. All right, let me bring up So we'll just get into I'm going to do national numbers real quick here.

All right, so our inventory went up 16,373 so we're at 794,286. Median list price went up by $1. It's 450,000. It was 449,999. Uh median days on the market still at 56 and price reductions are up a little bit more. Now we're at 36. 78. You want national numbers real quick here. Mhm. Wow. Yeah, so we're up there. Um not majorly up there, but we're up there. You know, price reductions doesn't mean that the market is dropping. It it means Mostly it means sellers are not paying attention to their realtors or realtors are just so hungry to get a listing, they'll do anything. Well, they're just doing They're just putting it out there not realizing what it's at. Yeah, but that's what That's what's increasing your days on the market.

That is correct. Get your real estate and mortgage questions answered by the experts at Real Estate Jerky. Contact us at radio@realestatejerky. com. You can call myself Ed Parko directly at 209-404-1915. You can reach out to Mike Kelly at 209-968-5633. Talking about national number and uh the numbers came in at We came in at 794,286 which was about 16,373 more than the week prior. Uh same week, if you look at 2025, uh I said that before, I think 2015, but it's really 2025. We're at 787,287. That was up from 767,258. So they went about 20,000 that week. Mhm. Yeah, that'd be 20,000. And now we're only up 16,000, but we're still way more than we were last year. The the thing that I thought was amazing was I saw a number that said if you look at like listings during this period of time, so per week we had like 85,159.

It's, you know, you have to go off the numbers for 2026, but if you look back in the bubble years, we nationwide we'd have between each per week 250,000 to 400,000 new listings added. Is that crazy? Yeah, that's how much we had on the market back then versus where we are now. So when people say there are more Homes than buyers. Buyers, there's more home sellers than buyers, that just means people aren't looking. They're They're going, um we're going to wait until things happen a little bit more, wait till rates go down a little bit more. Well, guess what? That's what everybody is saying. So what's going to happen? They're all going to come out and you're going to spike the prices and it's going to go through the roof.

Right. Right. Yeah, and you're going to compete against each other. You're not going to get the deal that you can get right now today. Um the smart people are buying today. But Mike and Ed, that's what you say all the time. It is what I say all the time because it's really really true. The best time to buy is either 10 years ago or today. It's when you're ready, not because of the market and because of what's going on. But the big thing is a lot of people are sitting on the sidelines waiting for things to change. Right. Perfect very seldom happen. Yeah, so the one thing that's great is right now is prices are not running away from you. Yeah. Your over year your home is up about 1 to 2% and we'll get into that a little bit more depending on which report we we went through.

We'll go through the FHFA and the case shield a little bit later. This is the most balanced housing market we've had in five years. Well, and I think people have forgotten A lot of people have forgotten about the bidding wars in uh 2020 through 2022 where it was almost if you weren't priced right, people would walk away from it for a while, but everybody thought they had to pay anywhere from $5 to $30,000 over ask price. just to be able to secure the property. What kind of price? 5 to 30,000. Ask price. Ask price. Ask price. All right, you want to do our local numbers before I forget? Well, let's do state. So, Redfin's always going to tell us that it's just single-family homes, 103,574 currently today.

And then, you know, the other one down here. Where is it? I have too many other questions open. Where did it go? realtor. com. They say 156,086. That's everything. So, we're yeah, but we're up 3,000 from last week. So, inventory's increasing, so we're going to have a bubble. Yeah, well, probably. But look at your local numbers. Oh, yeah. Because we are from the last time you said them, our local listings are way up compared to where we were. We've increased by about 200. Currently on the market in Stanislaus County is 864 single-family homes, townhomes, and condos. And you know, if you for the first part of the year through March, we were in the 400s as far as pending sales, and then April was very active.

We were down in the high threes. Now we're back to 421 pending sales. That's kind of nice. And then closed transactions through the month of May to date, we're at 253. Right, but that's not finalized. No, we still have a couple days to report closings that just happened. But the one thing we talked about, I think last weekend and the week before, was the fact that March and April of this year was the best March and April in a super I mean, for a very long time, and the best March and April of any month in a very long time because it was more than any other. If you look back over the last year, look back the last two years, it was the best months. And we were trying to see if we're going to make that, but I think things were just slowed down because of the fact where rates moved up.

When you used to have six and a eighth for conventional, and now you have 6. 61 according to Fannie and Freddie because of the oil and everything else, people slow down on buying. Yes, they did. Because they're waiting. They're waiting just like then everybody's waits. Even the new home sales are people are waiting on those. Why? Don't why wait? Because they're they're again, those are big we're buying big numbers now. You know, you're looking at 500,000, 550, 600,000 for new homes. With a higher interest rate than the day when it was lower. Hi. There you go. Yeah. All right, what else do you have? Um, you know, there was an article here that a little question a little question is can a woman a 70-year-old woman buy a house and get a 30-year fixed mortgage?

Of course, because you cannot you cannot discriminate. Yeah. But men can't because their FICO score is so low. No, anybody can get a mortgage for 30 years. Anybody can. And then they say um Because somebody asked me, what if I was 90? You would still get one. You'd still get one. But I would tell you go reverse. Yeah, I yeah, that makes a lot of sense. All right, so we're talking about local numbers. Before we get way off the subject, I want to go back to I originally started about with Case-Schiller and FHFA appreciation thing that came in this week. It was March numbers. It was released on Tuesday. So, you looked at the appreciation reports for those both of those. So, you look at Case-Schiller and they're if you look at the raw numbers, they look decent, but if you seasonally adjust them for where we are right now, it's a totally different story.

Case-Schiller unadjusted month over month was up 7/10 of a percent. Case-Schiller seasonally adjusted was down 2/10. You follow me? So, it's the complete opposite. So, that was almost a 9% 9/10 of a spread change differently. Seasonally adjusted, it is only I'm sorry, year I already did that. Year over year is up 1%. Year over year value. Case-Schiller looks at everything, single-family homes, condos, everything, cash transactions, everything. Yeah. FHFA, if you look at their numbers, you're looking at there were seasonally so if they didn't give me non-seasonally adjusted, but if you look at it's also 1/10 once you do the seasonally adjusted. Year over year is up 2%. So, those we're still up even though we're going through this.

This is nationwide numbers. I guarantee you we're five or six or more in our area than we were. Yes, absolutely. California is just a different place. Right, so the bottom line of this thing, home prices on a seasonally adjusted basis were essentially flat for March. Case-Schiller actually printed a negative on a seasonally adjusted basis. FHFA, which only measures conforming loan limits only, no cash transactions, nothing else, was still positive by 2%. That's a good number. That is a good number. I mean, it's not we don't want 15% month over year over year. We do, but we don't if we want affordability for people to be able to buy homes. When we were 22% and 22% and 22%, then all of a sudden you're at 66% in a three-year period, that's a lot of money.

That's 150 to 200,000 on average transactions. And that that hurts. It does. Who makes that kind of money? Everybody. In order to buy it, everybody does. Yeah. Um, I'm giving you a second for your brain to catch up. I hate when I go blank. I hate when you go blank. Yeah, I know. You should never say that on radio. Property prices, they're asking will property prices go down in 2026? Are expected to experience a nationwide crash? No. Well, right now, no. If this whole thing works out with the war and everything else, definitely no. If it gets worse and inflation goes up and everything else and this is dragged on for another 12 months, yes. Yeah, they're saying they expect national home values to tick up between 1 and 4% for the year.

Well, we're already at one. Yeah. I know. So, they're right. They're absolutely correct. The only thing that's been saving us recently because even though rates went up, the thing that's been saving us is because we talked about it before, the premiums built into the rates. We talked about this before. We had built-in premiums because what would happen is in order for people to buy a loan that they know it's going to be refinanced in a year to two years, they need to be paid a premium to buy that mortgage back security. And those premiums, we were up as high as 3% on some of these. So, if you look at the mortgage spread right now, mid-June 2025 to today, you look at different things. The last week we looked at last week is 1.

9%. On average, in a normal market, we're between 1. 60 and 1. 80. So, if you look at today's rate, which is anywhere from 6. 61% to 6. 65% conventional, Fannie, Freddie, these are not my rates. If you go back to 2023, that rate would have been 7. 86. 2024, that rate would have been 7. 48, and in 2025, that would have been 7. 29. That is why we are able to still do decent rates right now because last year at this time, we were at 7. 29. Think about that. It seems so long ago to me. You know what I mean? Just last year at this month, but that seems so long ago that we were there. But because we were in March and April, we were much lower. We're six and a eighth and we were FHA and VA, we're like 5.

75, 5. 625. Yeah, nice rates. Yeah, and we'll get back there eventually, but is it overnight? No. Yeah, we just need a few things to have a completely settled outcome. Right, we need the we need oil prices to get back down to where they were prior to the war, which is $67 a barrel. Yeah, but didn't didn't Landman say they wanted to ride around $86 a barrel? I know that's a TV show. I know, but that's what they want, but there's if you can sell more oil at 67, wouldn't you sell more oil at 67? Yeah, jack in the box. Well, you can get a jumbo jack for $1. 50. You're going to sell more of those. Okay. Yeah, you know what I mean? Supply and demand. This is Real Estate Jerky on Power Talk 1360 KFIV.

I'm Mike Kelly, Remax executive realtor here in the Central Valley alongside Ed Parco, MBA, veteran, mortgage expert, and president of Lending for Living. And we were discussing all kinds of numbers and where the market's headed and where we where it was. And now we're going to talk about some other stuff. Yeah, before I get into all the other stuff, I want to complain about a couple things. If you're an escrow officer and you're listening to us, when you send your documents over to the loan people who are asking for them, please spell out and on your E and O insurance, don't put the and sign because then we have to rename it because we can't upload it into our systems because they're like, we don't expect the special characters.

Oh. Yeah, so everybody has to rename that. So, just put E and O or just put EO. We understand it's errors and omission insurance. Yeah. So, if you're going to put E and O, spell it out. Spell out and. Interesting, that's a little glitch in the matrix, huh? Yeah, that's certain because there's certain things you can't have in the system still. I know people are used to being able to save it that way, so that means everybody can take it. No, our old the certain systems won't take it and save that character. Second, when the loan officer is involved with the transaction and is constantly involved in the transaction, when the thing records, please include them on their email saying, hey, by the way, we're on record.

Why would you do that? I don't know. There's some escrow officers that don't do that, and then we have to go, are we on record? Because I want to talk to my client also and say, you know, thank you so much for working with me, and they're going to say, oh, you were so amazing. And then we'll we'll do an amazing review with you. Thank you, I appreciate it. Yeah. Yeah, because you could have had a particularly down day that day and but it finally recorded and your clients were giving you glowing praise. It's just why Yeah, why not? I don't get it. They always don't include it. It's not all escrow officers, but a lot of them, and it's like, why? Why aren't you doing that? And everybody's like, it's just a small complaint.

No, it's a huge one because then I got to call you, the real estate, hey, are we on record? Yeah, I heard about 2 hours ago. Thank you so much. And then you call your client, sorry, I just heard. I just found out we recorded. Yeah, because the escrow officer didn't tell me. Oh, the things we have to live with. Yeah, then the other thing is you got to be careful on a transaction when you're as a buyer and you're buying things and you both agents have to know their client because I just had a transaction where the seller was doing some things at the end that they should not have been doing, like hiding instead of answering and certain things, and it ended up biting my client in the butt, and that's That's no bueno.

No bueno. That's horrible. You need to know who your seller is. If it's somebody that's very difficult, like certain things need to be done, you as the listing agent should be at that appointment to make sure that is done. And and if certain things that they knew prior to things being done should have been told to everybody, but they kept it a secret. Well, you're you're the quality of care that you're supposed to take as a listing agent or a buyer's agent, your seller's doing something stupid like that, you get in trouble too. Right, so what they do is at the end, they have you sign a thing saying you're not going to sue either party. Wow. Yeah. Anyway, we'll move on, but I'm just saying, know your seller, know your buyer.

I understand both of them are not always the best, but you as the listing agent, you need to know everything. If there was a well on the property and now it's tied up to the city, there's got to be a valve in there to stop the water from back flowing from the well to whatever. And if they had something involved with that and they're supposed to be doing it, check, make sure that the seller gives you the letter, gives you everything so you know that when you fill out the transfer disclosure statement from the seller, it should be on there that they know there's an issue with the well, an issue with that. If they don't put it on there, oh, that just reminded me, even though they signed a thing saying that they wouldn't sue, if it's not on the TDS, closure.

That brings up a whole different set of rules. That's a totally different thing. I'm not for, you know, suing. First of all, you sign the contract to do arbitration. Just do that and just, you know, get it work it out. Yeah. And if And usually signed you'll do mediation if the arbitration doesn't work. Yeah, you start with arbitration and you go to mediation. That's right, man. Yeah, yeah. Just do the right thing through the whole transaction, you got no issues. From the beginning. Yeah. But some people try to take advantage of the people and it's just not right. Yeah. I I understand. Okay. Some people are just like that. Let's just move on, shall we? Okay. What else is going on? I I saw We got an article from our producer.

It was talking about Zillow's top 10 hottest markets in 2026. And And this is the about competition in the markets, meaning that you have more markets than properties. Buyers than sellers. Yeah, properties available on the market. And they, you know, and right now, Northeast and California are where the buyers still outnumber homes for sale. Two And I couldn't believe two California metros made the top 10, especially one of them. I thought everybody was leaving, but I guess not. They really love their mayor. So, let's I don't know how they can. So, I'm going to do the top top two California and then All right, let's just do We'll just go through the list and go back to them. Um, number I'm going to do 10.

Milwaukee Where are you going to start? 10? Okay. Wisconsin. I just knew that. I was just waiting for you to say it. So, we look at the price point. You got 369,303. Uh, number nine is Richmond, Virginia. Number eight is a shocker, and we're probably going to get sidetracked on this one, is Los Angeles, California, 941,869. And you would think with the race a couple days out because it's the second, right? So, it's Tuesday, so it's only like four days from now. The primary, right? The primary, yeah. Uh, but I think their mayor race is not the Is it the primary for mayor? Or is it just the mayor I think it's just the mayor race. I wish we had a producer could tell us. It's just a mayor race. Yeah, I wish we did, too.

But look, I'm not the producer, but you keep on going. Yes, it's a primary. Thank you, sir. Appreciate that. Everybody knows about Spencer Pratt. Yep. But they're still thinking Karen Bass is going to be the top one. Yeah, that's a lot of really head-in-the-sand people. I still can't believe that. I'm just going to vote I'm just going to vote party lines all the way across. I I just can't believe that, and that's just wrong. She will not get more than 50%. All right, so she has to get So, if she got 50%, then there wouldn't be a run-off. There wouldn't be the next run-off or whatever the election is. Right. Yeah, if no candidate receives a majority of the vote, a run-off election will be held November 3rd.

Good. Well, we need that because he has plenty of time to get more momentum. And I think you don't even have to be a resident of LA to go vote. So, they're asking for a lot of people to show up. No. No voter ID. I I understand people from Wisconsin and Texas and Missouri are flying out. That would be totally wrong. Oh, would it? Yeah. You're listening to Real Estate Jerky. I'm Ed Parco, NBA veteran and mortgage advisor at Lending for Living, alongside RE/MAX Executive Realtor Mike Kelly. But that is I love his stuff because it's amazing what he does, you know, and the fact that I saw a thing with the uh What's her Nithan Nithian Raman Raman or Yeah, whatever. The city council person running, and she was doing an interview and she was like, "My husband's in the business, and I can't believe that he is using AI in this market, blah, blah, blah," because, you know, Hollywood and all that.

And the guy who's interviewing her was like, "I'm sorry, he's just reposting other people's stuff. He's not making it. Other people are making the AI stuff for But it's great. I mean Actually, the best thing I saw was when they were washing the streets with his name and said that streets could be this clean because in order to get all that up, they have to clean the streets. Yeah. Right. That's just great because it'll stay there forever. Yeah. Well, a while anyway. Well, I'm just No, it'll stay there until it gets dirty. And then it'll always be lighter than the rest of it. Yeah. He's doing some good things as far as that. I mean, he does have a poly sci major, right? Does he? So, yeah. I thought he was not at all a He's not a politician, but I mean, I guess he studied it in college because you you want to be on the radio.

And look at us. We didn't even study in radio. No, and you can tell. So, okay, so Do you think that's funny? Yeah, I do think that's funny. All right, so we stopped. We got I told you we'd get sidetracked at number eight. Number seven, Boston, Massachusetts. Los Angeles, yeah. Which I've never been to yet, and I still want to go. Neither have I. I I I used to watch it every week. I don't think I ever saw that show. You didn't watch Cheers? Oh, Cheers. I was thinking of Boston Law. No, and then number six, Philadelphia, Pennsylvania. Yeah, I love Cheers. Where they came up with the food called scrapple. Marsha's from Warren, Pennsylvania. And Warren, Pennsylvania is one of those smelting towns.

So, when the smelting plants went down, so it went down. Yes. Is she really? Ah. Everything went down. Start boarding things up. God, San Jose Did we Oh, San Jose is next. Number five. Number five. 1. 56 million is the median price. That's crazy. 1. 56 million. Yes, that is a Well, that's all because of all the NVIDIA money. Right. Buying the five $10 million homes and then gutting them. Tearing them down and starting over. I don't think they tore them down, but they definitely gutted them. Well, I'll tell you what, they probably left at least a fireplace. Well, that and you had the Facebook guy who bought 15 houses around him to make sure nobody was close to him. So, it's a remodel. Because he's an introvert, huh?

Yeah, that's well, probably. All right, so we got four more. Uh, Providence, Rhode Island. 503,409 is the median. That's number four. See, that's That's a little more affordable than 1. 56 million. Yeah. I just can't believe number three. I know. I'd be running from there. You would think everybody would be leaving. Where's that at? New York, New York. I was just Maybe they're talking about the one in Las Vegas. Oh, there is one there. 704,284 and the one in New York uh I mean the one in Vegas needs to be torn down just like a lot of the stuff in New York does. Yeah. Yeah. Did the Hard Rock open yet? The new one? No, I don't think so. Last time they were still building it. Yeah, the guitar. Okay.

What's number two? I'm I'm Buffalo, New York. And the value? Median home? 277,499. Oh, just round up, 500. Round up is 277,499. That's not 500. Oh. Yeah, 277,500. Well, here's the drum roll. Okay. Number one is Hartford, Connecticut. Wow. It's where they do the insurance. Uh, 381,760. 381,760. Wow. Yeah, Hartford, Connecticut. Real Estate Jerky on Power Talk 1360 KFYI is always bringing you the latest information on the real estate industry. And if you had any questions or comments about our discussion today, please email us at radio@realestatejerky. com. If you have questions on probate, go to mikekellyrealtor. com. If you have questions on reverse mortgages, go to lendingforliving. com. You have questions for VA, go to loansquad.

com. Or just give me a call at 209-404-1915. And the first block, I think it's called the A block, we talked about national numbers, we talked about local numbers, and that was more into the the B block if I remember right because we went on and on about your weekend and how great it was. True. Yeah, it was a lot of fun. And uh national numbers are up about 16,000. Uh, local local numbers are up about 200 for listings. And we're at like what 700 and something for listings? Seven Yeah, 700 and something. And then uh California numbers were about um 150,000 nationwide. The California numbers 150,000 according to 150,000 is written down next to you. No, it's right in my brain. 150,563 according to um realtor.

com. Right, and then we went through different little things like the top markets uh for Zillow and we couldn't believe that Los Angeles was number eight out of the 10 and San Jose we couldn't believe the median price was 1. 56 million. Now, the question would be with all that number, what are you going to do? I'm going to buy a house because it's the best time to buy a house right now. All right, well you do that. Okay. All right, so I was talking to somebody else and they have two places we we both know them in like uh Tennessee and one of them he has to refinance because some things happened with uh And this thing, when you're buying a property, if you have a partner, be very careful who your partners are.

It could come back to bite you later. Just be careful with that. That's all I got to say. Okay. All right, we were giving uh one another list from our producer, which I thought was a unique list because um you're retiring soon. Uh, so I thought we we would go through this best and worst states to retire in 2026. Let me say something real quick. Realtors don't retire, they just get listless. All right. So, WalletHub dropped their 2026 state retirement rankings. They compared 50 states across 46 different metrics and some of them were taxes, cost of living, healthcare access, quality of life. And they're here I'm going to There's top five states and bottom five states. And that's all we're going to get into.

Okay. Except for the one where California lies because it's number 25. I'll tell you that. Yeah, so it's in the middle. It's not so bad. Oh. Yeah. Uh, I would say the reason California does so well, which we'll get into, is probably because of the tax rate, the property tax rate. We are very low on our tax rate and Prop 13 helps us drastically. Thank God. Because you go to other places and those taxes could kill you. Texas are the worst. You really need to look into them. Yeah, when they're reassessed, they're retaxed. Yes, at that rate and they're at 3%. All right, so top five states. We got stubborn number five, so I almost said number one. Okay. Minnesota was for retiring. Capital of fraud.

That's why it's number one for retiring. You get a lot of extra money. You get a lot Okay, cool. Yeah. Number four, which I can't believe, Colorado. Why can't you believe that? Because when you move there, uh they give you a box and it includes lotion and chapstick. Because it's so dry. I'm not kidding. I talked to them. Yeah, we give in Yeah, this when they give them boxes, you know, to move and whatever and then tape everything up. Here's your box, here's your thing, and it has lotion and chapstick in it. Yeah. Yeah, we sleep with a humidifier on when we were there. Number three, South Dakota. Really? Yeah. Those winters could be brutal, right? Yeah. The top two wasn't majorly different, but Florida is number two, shocking.

That's where everybody goes, right? Older people. No. Snowbirds. Yeah, and then you have Wyoming. Really? Yeah, the question would be is there places in Wyoming that doesn't have much snow? I'm sure there are better places. No, I don't know. I don't I don't know. It seems like when when Because they're 61. 56 out of all the numbers. Okay. And so that's why they were the highest. So. So, they were number one. Wow. Places to move to retire for taxes, cost of living, healthcare access. Well, I guess if you don't mind living inside your house for six months or everybody With everybody moved to Idaho, why is it not even more on here? I don't know. Yeah. All right, so let's go to the bottom states.

Okay. Um, and you know, we'll go the opposite. 46, Hawaii, not shocking. How expensive homes are there? Oh, yeah. Homes haven't you watched that show where they rehab all the Hawaii homes and Well, this one normally goes for 1. 4 million and 1. whatever. We're buying this rundown one for 1. 1. And we put a dishwasher in it and now we're selling it for four. No, they put way more than that. They got 250,000 in remodel costs, 250,000 in holding costs. And I was telling Marsha, they're probably using their own money and then charging themselves interest so that they can pay them back and get it out of the costs of how much they're making on each transaction. That is smart. Yeah, that is a smart idea to do that.

And I'm sure because they keep saying we only make 70 something thousand or 100,000. I'm like, you would not do that for that amount of money, risking that amount of money. You're listening to Real Estate Jerky. I'm Ed Parco, NBA veteran and mortgage And they're still making money. That's smart. advisor of Lending for Living alongside Re/Max executive realtor Mike Kelly. If you have questions or comments for us, feel free to reach out by emailing us at radio@realestatejerky. com. All right, so we are number 46 is Hawaii, 47 West Virginia. I thought everybody moved to West Virginia cuz it was for lovers. Yeah, and I think there's a song for about West Virginia. So that might Uh when you think of it, let me know.

That might I'm not going to sing it, but that'll draw them to it. How about number 48? I wonder what it is. I don't know. There's a lot of S's in it and I. Are there a couple P's? Yes. What is it? Mississippi. That's correct. Where humidity is strong. Yeah, and bugs can carry small children away. Well, at least you never go you never you can always eat. Yeah. 49 What did that going to be? It's a song, too. Uh-oh. Oklahoma. Oh, I was going to go Kansas. No, it's not on the list on this list part, the top five or bottom five. Okay. Yeah. The worst place to live are the top five. Are the bottom five. Well, the worst place to live of of all 50 of them, right? Cuz they only did 50 states, and this is the worst state of their list is Kentucky.

Okay. Right. Because of the derby? Oh yeah, I don't know why. I really like to look into that. Yeah. Uh well, somebody had to be last, right? Yeah, cuz there's only 50 states. Yeah, might as well be Kentucky, but I don't know why it would be Kentucky. I wish they would include the territories next time so that you know how good the territories are. Because, you know, I hear Puerto Rico, if you live there 51% of the time, you have a 4% Right. tax rate for federal, which is 4%. 4% That's unheard of. No, that's truly there. It's not unheard of. Yeah. No, but I mean it's unheard of. No, I've heard of it many times. I've heard I've telling everybody about it cuz it's the only thing is you got to take like the mountains have a generator cuz occasionally the power goes out constantly.

Until now, now you just said it. Yeah. Uh California was number 25 out of this list. Affordability rank was 39, the third worst cost of living. I can see that. Yeah. Yeah. Uh quality of life rank uh 50. No, I'm just kidding, 22. Uh health healthcare rank number eight. So if you need healthcare, stay in California. Yeah. Number eight. Yeah. Well, that's that's I mean we got something to talk about right there. Yeah, because I mean Kaiser, then you have to be careful. If you have Kaiser and stuff, you can't move out of your service area or you could lose it. Right. Yeah, California is in the middle of the pack overall saved by Elite Healthcare at number eight in the decent quality of life, but absolutely crushed affordability when it's the 48th most expensive state to live, only behind Massachusetts and Hawaii.

Oh. Wow. Nevada's at 28 and Arizona's at 18 and Texas is 33. I know why Texas is at 33. Tell me. Taxes. Yeah, 3%. They don't protect the people. It should be when you hit 65, you don't pay any property tax. Yeah. I would like that. I turned 65. Or or any any federal taxes or any state taxes. All taxes should go away so you didn't have to pay them. I know on social security you're not paying taxes anymore. Right. I mean Central Valley's not a bad place to live, and that's what they're talking about cuz we have the the medical and everything else. Yeah. What do you think? Cuz you're you're staying here, you're not moving anywhere else. You're just going back and forth to Colorado. I mean your wife's going to leave you and go to Colorado, but that's beside the point.

I don't Yeah, she's going to love her life then in Colorado without being calling me every now and then and sending me pictures of the grandkids and I'll I'll fly out as often as I can. But I'm not, you know, I'm as bad as the politics is and the cost of living is in California, I've been here, you know, my entire life. I'm not going anywhere. Yeah, and that and that whole split to split the state's not going to go through because we got such a democratic thing foothold that they're not going to put it through. And guess what? That's a wrap. We can't get that point across. Not going to let you. Okay, good. I want to thank you for being here and thank you for listening to us. If you have any questions or comments, you can reach us via web, social media, or just shoot us an email at radio@realestatejerky.

com. You can give me a call Ed Parco at 209-404-1915. You can reach out to Mike Kelly at 209-968-5633. If you miss any of the show, don't worry, catch up via podcast on the iHeart app or wherever you find your favorite podcast at. We're proud to live in this country and can 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 12:00 noon and Sundays at 3:00 p. m. on PowerTalk 1360 KFIV. Mike, thanks for being on the show today. My pleasure to be here, Ed. Thanks. Thanks for tuning in to Real Estate Jerky 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.