On this Episode we discuss the current housing market as it relates to the Triad of North Carolina. In honor of Veteran's Day, we discuss the benefits of 100% financing with a VA loan.
Jeff Cunningham is a Realtor (license # 301547) with United Realty Group (Broker license C34827) serving the Triad NC area.
Jeff can be reached at
Email - jeff.cunninghamrealtor@gmail.com,
website, jeffcunningham.mysalecore.com,
Facebook,- https://www.facebook.com/jeffcunninghambroker/
Gina Milloway is the Mortgage Loan originator NMLS #1676070 & CEO of Triad Mortgage LLC, NMLS # 2385260,
Gina can be reached at,
Email: gmilloway@traidmortgagellc.com
Web: https://www.ginamillowayloans.com/
Facebook - https://www.facebook.com/mortgageswithgina/
Office -336-290-1891
NMLS Consumer Access: https://nmlsconsumeraccess.org/
Privacy Policy: https://www.ginamillowayloans.com/privacy-policy
Triad Mortgage is an equal housing lender
Jeff Cunningham is a Realtor (license # 301547) with United Realty Group (Broker license C34827) serving the Triad NC area.
Jeff can be reached at
Email - jeff.cunninghamrealtor@gmail.com,
website, jeffcunningham.mysalecore.com,
Facebook,- https://www.facebook.com/jeffcunninghambroker/
Gina Milloway is the Mortgage Loan originator NMLS #1676070 & CEO of Triad Mortgage LLC, NMLS # 2385260,
Gina can be reached at,
Email: gmilloway@traidmortgagellc.com
Web: https: https://www.ginamillowayloans.com/
Facebook - https://www.facebook.com/mortgageswithgina/
Office -336-290-1891
NMLS Consumer Access: https://nmlsconsumeraccess.org/
Privacy Policy: https://www.ginamillowayloans.com/privacy-policy
Triad Mortgage is an equal housing lender
On this Episode we discuss the current housing market as it relates to the Triad of North Carolina. In honor of Veteran's Day, we discuss the benefits of 100% financing with a VA loan.
Jeff Cunningham is a Realtor (license # 301547) with United Realty Group (Broker license C34827) serving the Triad NC area.
Jeff can be reached at
Email - jeff.cunninghamrealtor@gmail.com,
website, jeffcunningham.mysalecore.com,
Facebook,- https://www.facebook.com/jeffcunninghambroker/
Gina Milloway is the Mortgage Loan originator NMLS #1676070 & CEO of Triad Mortgage LLC, NMLS # 2385260,
Gina can be reached at,
Email: gmilloway@traidmortgagellc.com
Web: https://www.ginamillowayloans.com/
Facebook - https://www.facebook.com/mortgageswithgina/
Office -336-290-1891
NMLS Consumer Access: https://nmlsconsumeraccess.org/
Privacy Policy: https://www.ginamillowayloans.com/privacy-policy
Triad Mortgage is an equal housing lender
Jeff Cunningham is a Realtor (license # 301547) with United Realty Group (Broker license C34827) serving the Triad NC area.
Jeff can be reached at
Email - jeff.cunninghamrealtor@gmail.com,
website, jeffcunningham.mysalecore.com,
Facebook,- https://www.facebook.com/jeffcunninghambroker/
Gina Milloway is the Mortgage Loan originator NMLS #1676070 & CEO of Triad Mortgage LLC, NMLS # 2385260,
Gina can be reached at,
Email: gmilloway@traidmortgagellc.com
Web: https: https://www.ginamillowayloans.com/
Facebook - https://www.facebook.com/mortgageswithgina/
Office -336-290-1891
NMLS Consumer Access: https://nmlsconsumeraccess.org/
Privacy Policy: https://www.ginamillowayloans.com/privacy-policy
Triad Mortgage is an equal housing lender
Hello and welcome to the podcast. Let's get moving with Jeff and Jayna. This is Gina Nole, your local mortgage advisor. And this is, this is Jeff Cunningham. I'm your local real estate agent here in Greensboro, North Carolina. Focusing on on the triad again we are triad North Carolina, which is Greensboro, Winston-Salem High Point, and we stretch out a little bit further than that. So welcome. Welcome, welcome to a Little Cold and Breezy Oof, crisp Morning Day. Had some frost on the car. Yes, yes. North Carolina Frost. There's, there's, I don't know if there's anything better or anything worse. I don't know. It's It certainly says that there is a turn coming for the season. So, yeah, I guess it depends if you're a winter person or a summer person. I'm kind of a, a spring and fall person. I don't really. Yeah. Winter, and I'm getting away from summer. You speak a hundred percent summer, but you know, as you get older that, you know, your tolerance changes a little bit. It sure does. Absolutely it does. Yeah. My, my, yeah, I'm, I'm very similar to you. My favorite season now is fall where it it used to be spring summer, I should say. But yeah I, I'm okay with sixties to 75, maybe even 80, but. Yeah. I, I, I do miss the eighties already, I gotta tell you that. Yes. yes. Yes, I do. Yeah, absolutely. Well, as we're moving into the, the changing seasons and the changing weather we're seeing I think some changes maybe for the positive and the. You know, on the home fronts and the inventory. So yes, we're gonna go over that a little bit today. And then since we are just out from Veterans Day, we're going mm-hmm. Move into talking after the market update. Move into talking about the VA loan just a little bit. We're gonna hit some highlights on that for you guys. So, well, how are we looking in the market? How's our, our inventory looking right now? Are we, are we gaining some inventory, which. Be a good thing, right? For us to gain inventory? Absolutely, absolutely. A balanced market nowadays. Oh, before we even get started, happy Veterans Day to everybody out there. wanna make sure we got that out and, and unfortunately we did not have an opportunity to get get this out at the end of last week. But but again, happy Veterans Day. This is Thursday the 17th of. So yeah, six days ago was Veterans Day and the day before that was the birthday for the United States Marine Corps. For those of you who didn't know that. Yes. Yeah. Yep. So November 10th, 1775. And that was that was established up there in Philadelphia, Pennsylvania. Just to give you guys a little bit of tributes today. And that would be in tongues ta. So if anybody wants to trivia a question on that one you can get our information down below. If you need to send me that gift certificate, we're all good to go But but with that, again, happy Veterans Day to all the veterans that have served and, and thank you very much. Absolutely. And yes, to get back and answer your question we have our days of market. Our, I. Is actually about 1.6 months now. Sorry, take that back. Days on. Sorry. Getting all my, getting all my statistics mixed up here. So our months supply, which is our inventory for the homes on the market is just about 1.5, a little more than 1.5 months. So a month and a half of inventory, a balanced market. Nationwide. And of course in the tryout as well is about three months inventory it's actually three to six three months will get us to that. If you wanna call it tipping point of balance for, you know, again, an even. Balanced market where we'd have as many buyers as we do sellers and and of course that that stretches out as far as getting our days on market a little bit better than where we have been. Days on market today are about nine, nine days, and our historic lows were right at about one. You know, back in 2021, we were, we were firing houses out as quick as we could get'em on the market. But that again has uh, has changed a little bit. So we are balancing out again, days on market, right about nine, just a little over nine now, and which helps, which helps when you talk about balancing a market, that means it brings us out of those multiple offer scenarios and people. Not being able to get any seller concessions or help with seller paids close costs, but it also keeps people from having, typically having to pay an additional amount over and above the asking price or appraised value to, to get the home. So it's balanced and, and what that means is it's good for both sellers. And buyers. Correct? Correct. Yes. Thanks for clarity on that. For sure. Because yes, we are creeping back into, and we, I mean, it's weird to say that where we still are, you know, statistically well into a seller's market, but seeing, you know, again, boots on the ground, ha being out here in the in the field on a daily basis, we are seeing, again, concessions coming back in. Mm-hmm. we talked last week about the two, one. Reduction there for the Yeah, the two one buy down. Yeah. Two, one buy down for the, for the, for the mortgage. One of the latest mortgage products that are out there. And again, reminder on that is it's basically that the seller has a concession to quote unquote fund the two one buy down for two years. First year you'll get 2% less off your interest rate. Second year you'll get one. And then third year you roll up to the rate that you've actually qualified. Right. Yeah. So we're seeing a lot more things coming back that we didn't have before. Mm-hmm. and even though it's still technically, you know, air close the seller's market, we were in such an extreme seller's market mm-hmm. that any movement towards buyers is a, is a good thing right now. So we're. We're moving towards that. So all good sign. Yes. So more, more days on market, more houses on the inventory than we've had, so moving in the right direction. Absolutely. And with that, our, our prices are still holding steady. So we are at an average about 308, 300$9,000 average home sale here in in our. Which is a try it here again in North Carolina. Mm-hmm. So so yeah, where we're going with all that the statistics and Gina, well, before we go with that so our interest rates, again with all the ups and downs we've had here in the last couple of weeks. Were a little bit less than seven today. Well, so last week we had, you know, the biggest recorded single day. Drop and mortgage bonds or, and yeah. Mortgage bonds, which that equals into, you know, a rate drop, so, mm-hmm. So for single days, yeah, that was the biggest one we had over, you know, like a 200 basis point drop, which sounds like a lot, but it's, it's really like maybe a half a point, percentage point. And the rate, so, and the rates are gonna depend on the average rate. It's gonna depend on what type of loan it is, whether it's a conventional. Credit scores and all that, so it's hard to give an, an exact rate. Sure. But, you know, we were going from quoting rates in, you know, mid sevens to upper sevens, to now quoting high sixes, low sevens, depending on mm-hmm. the loan that we're looking at. I mean, I've, I've had a couple loans, like I've blocked one loan that was, you know, 6.6, 6.875. So we're. We're moving down. It's moving in the right position. Sure, sure. We did have a little bit of a bounce back yesterday, maybe Monday, beginning of the week. We, we lost a little bit of that game, but not, not a lot. So it's interesting to see, and that, that happened because the inflation data came in. Mm-hmm. Better than they expected. Absolutely. Quite a bit better than they expected, so. The actually mortgage bonds and regular bonds both reacted to that. So that's a move in the right direction. I just dunno if it's gonna hold or not. Hopefully everybody's, everybody in the mortgage industry is, is begging for it to please hold so we can get outta this environment right now. But yeah, so we are having signs in the, the right direction. You know, it's just all gonna depend on how the, what the Feds do next. Mm-hmm. hopefully it continues to do that. Yeah, of course. And and yeah, more big news. We had we had the election, midterm elections last week, so so they're still settling I guess down. Mm-hmm. Figure out who, who won and who lost in a couple of states or a couple of a couple sections still out there, I think out in the western part of the United States. But again, I think that's you know, depending on well I'll say regardless of where it ends up, I think the election, the anxiety a couple of things that have you know, led up to our crazy political, political environment right now. Hopefully we'll just tame itself a little bit and we'll just, you know, calm down, get back to normal, get back to normal business, put the pandemic behind us, like you said, gain some consistency in. In the world of mortgages, let's hope. But again, a couple things that we. Can do for that. Again, or at least a couple new products. We mentioned the two one buy down that's out there and something that's not new. But something that's been around for quite a while is yeah. The VA loans. Yeah. Again, since we mentioned Veteran Veteran's Day last week again, the VA loans are, are, are a heck of a. Good opportunity. And the, you know, it's a benefit for, for the servicemen service people service members of the United States military. And I, if, if I'm not mistaken, please correct me if I'm wrong, Gina, but I think the VA can actually, or the VA members VA loans, can actually use this two one buy down as well. Is that, Yeah, some lenders have it. It depends. Some lenders will only allow it on conventional. I know. But yes, there are some lenders out there that will allow all loan types. I don't think U S D A is getting some action on the two one buy downs, but I do have a product for, for BA conventional and FHA for the two one buy downs. So, yeah. So, and you know, rate with a VA loan. VA loans are actually really great price loans as far as rate goes. Mm-hmm. government loans are, but VA loans, you know, have great rates, so, sure. The other thing that is really important right now on a VA loan, that's going to help borrowers in this rate environment and in any environment really, but VA loans don't have. Am I requirement or that mortgage insurance require is insurance? Mm-hmm. but the lender's insurance that is placed on a mortgage with less than 20% down. So VA has that benefit. That is a huge benefit because it's a hundred percent financing, but have that extra payment. Which could be, you know, depending on your loan amount, you know, a hundred,$200 a month Yeah. And extra fees on your mortgage payment. So that's a huge savings. It kind of helps make up with the, you know, the rate difference right now. Yes. Yeah. Va VA loans are a good option. They're, they're a hundred percent financing. They have great pricing on their rates. The other thing that's key with VA that I don't think a lot of people realize, because not all lenders do it, but VA doesn't technically doesn't have a minimum credit score. Oh, that's right. We, we talked about this before and that's correct. Yeah. So now the problem is going to be finding a lender who will do the lower scores. Right. Typically, the, the bottom that I found is a 500. Yeah, but that's, that's the bottom, and that's actually lower than what I don't know. Currently 90% of the lenders out there will do a lot of them cut off at that 5 8600 mark. Mm-hmm. But there are lenders that will do it. I have, you know, I, I, I've done those. They will also, you know, VA also allows manual underwrites, so that's where when we run the automated system and we don't get that initial approval, sure it has to be manually looked at by an underwriter and VA is pretty easy on, on doing those manual unders. So VA is really a good option for somebody with a lower score. they, they're not as high owner guidelines and Okay. Which makes it easy in a sense, but can also make it harder in a sense, because there's a lot of, if it makes sense mm-hmm. for the borrower, does it make sense? And sometimes you gotta find the right lender and the right underwriter to utilize those guidelines. Sure. Because some lenders are stricter than others. Some. One, allow it. They have overlays. So for instance one of the, if it makes sense is, is it putting the borrower in a better situation? So by buying the house or doing the refi, is it reducing their monthly payment? Mm-hmm. and putting them in a better financial situation. Maybe we're doing the debt consolidation. Okay. It makes sense. It makes sense for the. To do that. Yes. Yes. Same thing with like late payments and credit history. Mm-hmm. you have an isolated incident on your credit where it was a one time thing, something happens and you've recovered from it. Fee is a lot, lot more lenient on that kind of stuff. Sure. And other loan tides, they, they look at the whole picture and, and, and. I got you frozen there on the screen there, Gina. And, and just to actually echo some of that stuff. Yes. I, I really, you cut out on me. Oh, there you are. Yeah, we just had, had a little technical snap. I think it's the wifi here. Whatever it must be. The cold weather. We'll blame it on the cold weather. There you go. We can edit that out. Absolutely. But but yes, as you were going, you froze there on the screen for a second, Gina, but I think where you're going there was I guess leading into, again isolated incidents as far as you know, credit issues that may have. Dti, if I'm not mistaken, the yes. VA loans have a, have a little bit of a different ratio there, which again, is beneficial for, for the service members, for the VA recipients. Yeah. I think is actually pretty high on va. So VA doesn't have a max debt. DTI means debt to income ratio. Mm-hmm. how much debt do you have versus your income? So when I run it through the automated system that we use for. If I get an approved eligible, I can. I can go with it. I can use that. Whether it's the debt, you know, the DTI is 43 or 55 or 62, it doesn't matter, right? If I get the approved eligible, I can use it. The one thing with the VA that you have to make sure though, is that you. What they call residual income and residual income is, the simple answer is just basically it's enough income left over after your payment. Mm-hmm. to do basic live stuff, utilities, things like that. So VA counts that so, As long as you have that residual income and I get the approval through the automated system, it doesn't matter what the DT is, as long as there's not a lender overlay on it, I've had them as high as 62%. Now, just to give everybody a reference, FHA is the next in line to be most to be lenient, and they will go up to. 50 56 and some change, like 56.99% dti. Right. Conventional has a hard stop. Mm-hmm. at 50. If it's over 50, it's, it's not, it's not going through. And U S D A is, is a little tougher there. Not necessarily hard stop, but you're looking at 42, 40 3%. So VA is definitely the most lenient. That kinda stuff. Yeah, absolutely. Great, great. And, and of course, you know, the the super highlights, I mean the things that most, or I should say, one of the things that most of the va members or folks are going with this product is as you mentioned, a hundred percent financing. So VA. In most cases won't require any down payment. Of course, I know there's some closing costs and things that that, that could be incurred. And typically as a buyer I'd recommend all of my clients to go ahead and do their inspections. All of the closing costs that, that come along, you know, with purchasing the house. And, and, and I, I know you're, you're itching to tell me that. Yes. A lot of those. I would say a lot, some of the closing costs can actually be financed with the VA loan. Mm-hmm. Very uncommon with any of the other loans that are out there. So in most cases, we'll we'll, we'll, when we have folks buying houses now we'll ask them if they want to pay for some of their closing costs and inspections to, I should say, including the inspections and so forth at closing where some other lenders will require you to pay for. At the time of service where they won't allow that to happen at closing. Appraisals, you know, are, are, are standard nowadays and those are typically taken care of ahead of the closing table itself. But again, I believe, if I'm not mistaken, I, I think the appraisals can actually roll over into or being paid at closing versus being paid. So, yeah, they are actually technically on a ba they're, they're paid up front cause they still have to be paid. But typically what happens is the lender carries that they pay until closing where the borrower pays for it. So good. Okay. It just kind of, that kind of depends on the, the lender and how they're set up to do it. Yeah. So there are a lot of really good benefits about a VA loan. Mm-hmm. now with every loan, there are negatives. Sure. And that to me there is, there is one negative on this loan, and we're, we're a positive show, Gina. So be informative. Absolutely. You know, you need to know what you're getting into. Yeah. And I'm the mindset that I wanna give the best loan for the person in their situation. What do they need? Mm-hmm. even if somebody qualifies for a va, it might not be a va. It might not be the best step for'em. Absolutely. It could not be. It just depends. And the, the, one of the big deciding factors for me on that is the funding thing. Mm-hmm. there is a funding fee. It's, it's part of the VA loan. It's standard now. You know, if you're doing a hundred percent financing, you probably don't have the money. You know, you may not have the money to put down on it. It's still, it's still a decent loan if, especially if it's your first time using. Now, the funding fee can be exempt if somebody has is, is disabled through. The va if they have it, if they are technically disabled and it's on their certificate of eligibility, that's the best, like that is the best VA loan is when somebody's exempt from the funding fee. Perfect. I love that loan. Yes. But if they're not exempt, there is is a funding fee and. It, it gets, it's not as expensive on the first time they use it, but if they're using their benefit the second time or third time, it starts getting more expensive. Mm-hmm. it, I think on a subsequent use, which means a second use, it's 3.6%. Oh, okay. So it, it's a pretty good chunk of money. Now it is financed Dan, but if somebody's using it for the second time, that's where I would come in and say, okay. Let's look at the cost. Let's look at what you have, what you wanna do. Mm-hmm. and is this the right choice for you? Mm-hmm. So you just need to be aware of the funding fee that, that, that is there. And is that also I'm guessing that's also there when you refinance, is that, is that correct? Yes. If a va, if a veteran was to refinance with the same loan product, then again the funding fee would also be in place. Yeah. And that would be considered a sub. Ah, 87, I believe. Yeah. Gotcha. Gotcha. Okay. Well, fantastic. Well, again you know, benefits for, for veterans and, and using the va loan are certainly there. You know, so if that is a if you're eligible, I should say for the va loans and, and, and the benefits, please reach out to your, your. If you need to reach Gina Millaway, please, the information is down below. But, but again contact your lenders. Contact your realtors. You know, a lot of us have experience. I am a veteran myself. And I do have a VA loan on the house that I own now. So you know, again, reach out and talk to a professional and just to make sure that, you know, again, this might be the best thing for you and it might not. And a trusted individual will tell you again what the options are and, you know, and guide you the best we can. And again, and the end, the option and the choice is usually yours. Yeah. Absolut. So you should always, yeah, you should always ask and, and, and know what options are out there. Don't, don't always assume one is better than the other. Mm-hmm. or you qualify for one, you know, ask questions. This is your loan, this is your process. And good. You want to make it the, the best possible choice you can. Sure. To build your, start building your wealth with home ownership. And that's, mm-hmm. that should be the goal of every lender is to help that borrower. Move forward and building wealth. Absolutely. So with that, we're also gonna lean right back into again you know, getting back and touching with our inventory, I should say, touching back with where our inventory is. Reasons for purchasing either a new home brand new construction or, you know, an existing. And existing homes are, again, homes that are already in the, in the ground. Something that you are not having built. And and again, are there benefits with either of those? And again, that that comes down to your personal choice. We would recommend in all situations to go ahead and speak with a lender up front and get some information on what is available out there. I like doing that and I instruct my clients usually to do that before we go in and speak to you know, the folks at the model home in, in the new. Sure reason, reason being you know, again, if you have a veteran or if you have, again, an experienced lender out there that may have a few different options for you which may be more beneficial than what the builder has to offer. Builders do have a number of different. Products that are out there. Now, typically they're offering a discount of some point. Sometimes a percentage point. I've seen'em up as high as 2.5% reduction on the purchase price. If you're using the builder's lender. And again, it all comes down to math. And you know, if, if you save 2.5% upfront, but your interest rate is say three three quarters of percentage point higher, you know sure you'll have that 25 or 2.5% savings for a period of time. But again, the higher interest rate will eventually consume that. And and then again, you'll be, you'll be dealing with with higher, you know, higher mortgages and higher costs. But again, that's something that a, a qualified lender will be able to tell you again up front. And I, I, I've seen lenders and, and Gina, if it's, if you know, not to, not to put words in your mouth, but we have come to Gina and said, Hey, can you help us here in this situation? And again, Gina, with all her experience and, and her wealth of knowledge along with the big bag of products that she has unfortunately we couldn't get any better than what was being offered to the individuals in that one specific instance. I think that's the only specific instance, Gina, that we've ever had that, that you couldn't do any better than that. But but again those are the options and, and those are the folks that you need to contact again, your realtor, your lender, and when you're dealing with the new homes folks. Having a realtor with you is advised. Okay. Oh, absolutely. And they expect that. They expect you to have somebody come in with you. It's not. It's not. Yeah. That's part of it. And you know, and then coming back to the, choosing the lender and, you know mm-hmm. maybe the scenario where I didn't have the better deal or mm-hmm. the borrower. That is, that is a big thing for. I, I'm not going to put somebody in a worse situation so I can close the loan. Absolutely. It's not the way I work, it's not the way I do things. If, if another lender or another deal is a better option, I'll be the person to tell you like, I love to help you. But you know, that's, that's what I would do, you know, so, yes. I try to be really upfront and help people understand what they're getting in and what they're looking at. Yeah. Versus trying to sell them to come over to me cause I may not be the best option. There's, there's a lot of different products out there. Absolutely know your options, know what's out there. Talk to people who know, you know, know the products and know how to explain it to you. Yeah, yeah, absolutely. And, and, you know, we don't want to deter folks from, you know, again, doing doing their due diligence by all means. And You know, at the same time we we're encouraging even more of that, especially when it comes down to the financing. In today's world, we are, you know, again we're much higher than we were two years ago. By no means are we, you know super high on our interest rates historically. But again, recent history where we were three, you know, 3% year and a half ago, two years ago of course we're significantly higher than that. So so put your trust in, in, in, in the folks, the professionals. And you know really find somebody you trust and, and if it's not the first person you look to that you don't, don't, don't trust or have some sort of a just a feeling, you know, again, you're not tied to anybody as far as dealing with something until, you know, we, we do get under agency deals and, and, and make sure that we fit with each other. And again, trust is a huge thing out there. And, and Gina, you know, I'll tell everybody out. You know, I trust you with, with all of my folks I bring to you. And and I have yet to have anybody dis dissatisfied, knock on this wood, wooden door back here. But but that, that, that should not happen. No, it should not happen. I mean, that's with design, you know, with design, it's, it's on purpose, so, absolutely. Absolutely. So again, you know, the inventory is creeping up a. And across the nation we aren't click, we are not. Clicking up as quick as you know, some places are our, our industry is still moving at a rapid pace. So of course we have slowed somewhat, but but here in Greensboro we're still, you know, again, average days in the market I think is just, just over nine days is what we just said. Which again is, is still fantastic. So if you are in need of selling and or buying and or investing please reach out to the. To the trusted professionals that you know now and see whether or not there's something there. And again, the options that are available are existing homes, of course, and we've got new homes. There are a couple of new developments that have popped up in our area. which are using their own creative ways of getting folks into houses Something that folks may or may not be interested in or may or may not be aware of either. I have one builder that is actually opening up an opening up a new phase in their neighborhood, and they're actually incorporating a. With that. So again, just because of where we are in the United States, again, Piedmont Triad here of North Carolina we are still, you know short on homes and we've got phase, I think this is three or four, I can't remember which one it is coming up in this neighborhood. But of course we have hundreds of folks that are looking for. One of the 32 or 34 lots that are available. So again, great opportunity to get into another brand new house. But again, it, it, as we tell everybody, it may not be the right thing for you. Again, you know, it's just a lottery and granted, if you're not in, you can't win. But at the same time you know, it may not be for the faint of. No. It, yes, you know, I mean you know, if you, if you've been looking hard and heavy for the last couple of years, and then, you know, looking for that last golden ticket, which is a lottery you know, we certainly don't want folks to get disappointed to put them out of the market. Which, you know, again, is just, you know, if, if, if buying a new home and getting a new home is for you, and we are in the right position to do so. We'll do it. And there are different options out there. Yeah. The lottery seems really, it just seems really, how, what's the word? Like, dirty. Like not Okay. To me. Like, doesn't feel right. You know? Yeah. Yeah. Sometimes I wonder if that's a way to. With new build cells kind of slowing a little bit. Mm-hmm. Cause we're starting to see more of those signs on the side of the road. They're offering more concessions now. Yes. Is it, is that a way to kind of gin up activity, make it desirable like you're gonna miss out if you don't put your offer in and then they pick and choose the offers that they get in? Yes. Well, I think it's, I think there's a couple of different things there and a couple different ways to look at it. For sure. Number one the lottery may be beneficial to others who don't have all that savings in their checking account. What I mean by that is, you know, if a homeowner just wanted to go out there and, and we know that home prices have, you know, accelerated in the last couple of years, but if a new, new, new homeowner or buyer wants to go out there and say, Hey, I'm interested in buying a house. Well, fantastic. Fred and Mary next door here have, you know,$27,000 that they're willing to put down, you know, on this lot. And you have to compete with that. So there's, there's a little bit of an unfairness. That has certainly crept in or a feeling of unfairness, I should say that has crept in in the last couple years where again, folks you know, that may not have, you know, the 15% down payment may have just a 3% down payment that are required. And most loans, or some of the loan products, three to 5%, maybe even 10%. But you know, the. Builders are, you know are trying to cooperate. I, I would say with the market where, you know, folks folks need to have a fair shake just to get, just to get in the door. Yeah, I agree, but I'm skeptical that it's happening that way. Hat, exactly. That's the first that comes to, to my mom. Yes. You know, just seeing, like, knowing the, the industry and builders and people, like, I feel like it's just a marketing. Strategy? Like does, is it really happening? Like if, if, are they looking at offers? Are they really pulling names out of a hat? Like how does that work? Like I want them to do this online. Well, yeah. Wanna know? I do have, I, I am gonna be visiting with this individual or at least the, the sales rep for this neighborhood beginning of next week. So our next podcast will have an update on that as far as, yeah. Have a name drawing ceremony where we can, yes. Is it gonna be Facebook Live or something? Yeah, I, yeah, there's, there's no. But but it's certainly gonna be worth I guess you know, checking into and, and, and the buyers, my buyers that are interested here, of course love the area they grew up in the area 27 4 oh, which is Northwest Greensboro. They have kids now and they want to get the kids in the same school system that they were in. And at this point where we have been, you know, looking at homes that just aren't, you know, up to par with what it is, it doesn't check all the boxes. These guys are looking into, you know, again, potentially new construction. And being a younger couple, again, not, not, not having the, you know world at their fingertips as far as their savings go, but you know, having a good down payment, their best opportunity to get into a new construction in the zone or in the school zone that they're looking for right now. This may be one of the best opportunities they're gonna have for, say, another six or eight months, maybe even another year. And that's on the new construction side of things. We just have to follow that, see how it, see how it'd be interesting to see how it plays out and works. Yeah. I I, I'm interested to see myself. Yeah, I know. You know, like, find out the lottery is happening, find out, you know, tell'em they need to, You know? Yep. Make this live. I wanna see somebody pulling names out of a hat. Yes, yes, yes, yes. Absolutely. You know, and, and we'll get, we'll get that follow up next. Right. Cool. That's fantastic. So again you know this has been a great week, or the weekend has been fantastic with Veterans Day coming coming to a close. You know, the elections last week again I I hope your folks won whoever they might be. And and I know, I guess we got one runoff, I think is what we heard this year. So Georgia again, but regardless you know that's gonna be that's gonna be just how it is. And, and we'll we'll get the results like everybody else does when, when they happen. So well, all right. To kinda summarize and wrap up, we're gonna wait next week to hear what, what the builder has to say about the lottery. Make sure you guys are exploring. All of your, your options when it comes to lending, stay on top of your market and talk to a local expert. Absolutely. Absolutely. And and with that, I think we should bid our at two and get the fire going because again, it's only supposed to be like 46 degrees today. And again, apologize for those of you that are dealing with the twenties and thirties out there right now, but again stay warm guys and we'll be talking to you. Thanks. Have a great too.