Episode Transcript
[00:00:00] Speaker A: Welcome back to the real estate and more show. Thanks for listening today. And often homebuyers ask questions about various aspects of buy transactions. So I thought I would say a few words interspersed with great testimonial from people that have to talk about their brides and their beauties and their sweethearts. This is Valentine's Day, so keep that in mind. I'd like to say welcome back. And with me I have Mr. Jerry Stadler. He's the owner of Remax Accord, and he has a story to tell.
[00:00:33] Speaker B: Mind you.
[00:00:36] Speaker A: I just have to tell you, he's got one ready and waiting for you. Jerry, how did you meet your sweetheart?
[00:00:42] Speaker C: Okay, thanks, Michael. It was a pleasure being back here.
I have an interesting story, and I will have to tell you right up front. Of all the stories that I have in my life, this is my favorite. I've probably had to tell it and wanted to tell it a thousand times. So here you go.
I moved to the Danville area in 1960. I came from the valley as a senior in high school.
I am very outgoing. I wanted to have a lot of friends, so I joined the football team. I did a lot of things to get me into the groove with the new people that I had now met and were becoming my new friends.
One day when I came out of a class, practically the first probably week in school, I was walking down the hallway and coming in the opposite direction was this young lady. And I could not take my eyes off of her. She was the most beautiful girl I had ever seen. And I followed her. She walked past me, never even looked at me, never gave me a nod. And I turned around to my couple of my buddies and I said, who is that? And will you introduce me to her? And that turned into an introduction in front of the band. Me, I can still remember, they were doing a little stint out there. She was a majorette, and they were doing a little stint out there. And she came right up to me, aided with one of her friends. And that's how we first met.
That blossomed into a young teenage romance that I was so enthralled with. I couldn't believe that I would have been so fortunate to have this young lady that liked me and wanted to be in my life.
We had one problem. That was her mother. Now, her mother didn't like me, and I have no idea why.
[00:02:53] Speaker B: I don't either.
[00:02:53] Speaker C: I don't either. What's not to like, right?
But it really deteriorated her relationships where she wouldn't let her go out at night, wouldn't let her go to dances. And so our relationship soured at that point in time just simply because of that aggravation from mom.
So I graduated. She was a junior. I worked for about six months to a year and got tired of that, joined the Navy, became an equipment operator for the construction battalion, CBS, and had a four year career with them. Came back, and I met a girl that, when I was working at another job, a girl was working there. I met her, I liked her. And we were together for quite a while, and we got married, and that was. Lasted about seven years.
And then it deteriorated. Not that she was bad or anything, it's just it wasn't a good marriage. We were not a good couple.
So I was a single man, and I was looking up old budies that I'd seen that I knew, that worked in town. And one of them mentioned this lady, and I hadn't told you yet, her name was Stephanie. And he talked about Stephanie, who had married a banker, was living in a country club. And I found out some way or another that she actually was not married any longer and that she didn't live in the country club anymore. So I was living in Antioch at the time. I sent her a letter, and I simply just said, hi, how would you like to go out to lunch? Would that interest you and just talk?
And she hesitated. I remember the day she called me back on the phone, and I remember her voice, and she goes, hi, this is Stephanie. And I was real. I said, oh, boy. So we met for lunch, and it was a great conversation. Unfortunately, about three quarters way through the conversation, she said to me, I need to tell you something. And I said, sure, what is it? She goes, I'm getting married next week. And I looked at her and I said, oh, my God, what do I say?
Well, who's the lucky guy? And she told me a little bit about him, and I was disappointed. I couldn't be unhappy for her. That's all I ever wanted, was her to be happy.
So I kind of took those wounds and out the door we went. And then within a day or two, she called me and she goes, there's a group meeting called Est, and I'm going to go to it with one of my girlfriends. And I thought you might want to go.
And I thought, well, heck, yes, anytime I can spend with you. And so that led to seeing each other practically every day for lunches and walks, talking. We did a lot of talking. I realized during that time that she was not in love with this gentleman, a nice guy. I actually had met him through a business situation, but she had three sons, and I thought, the oldest being probably about at that time, twelve, the youngest being about six.
And I said, why don't you call the wedding off and think about it? Because whether it's me or anybody else, I don't think this is the best place for you.
I remember sitting in Antioch worrying about it. I called her on the phone. I had packed a bunch of stuff together and was going to take Stephanie and the three sons to Stenson beach.
She told me, I can't. I said, why? And she says, because I think I'm going to Tahoe. And I, of course, knew what that, no, no, you can't do that.
She goes, the whole family's coming down. So I really was down. I said, well, when you get back, call me. So she did. She goes, I'm back. And I said, are you married?
And she said, no, I'm not. I did not get married. And I thought, wonderful. She goes, I need time to sort things out. I'm confused.
[00:07:59] Speaker A: Ladies and gentlemen, we're talking to Mr. Jerry Stadler. He's spilling out his heart here all over the rare waves, so you ought to be listening to it. He's talking about the love of his life, so we'll continue with that.
[00:08:14] Speaker C: I immediately got in my car. She came back and she had to go to a job that she had.
I got in my car, even though she said she wanted to be alone, I didn't want that. I immediately drove to her work, and guess what? She was glad I came.
That started a wonderful romance that I couldn't believe that I was so fortunate to be involved in. And the boys, they were great. Oh, my God. You see, I always wanted a family, but I never had any children of my own. I'd only been married once before, and that certainly wasn't going to end up being the mother of my children.
And here I had this beautiful woman, this beautiful family, and they were all saying, welcome. Come join us. And so we planned, made. She was a dreamer, and she got me hooked on that. I loved every moment.
And on June the 30th, because we wanted to do, wanted to be a June bride, we were married.
And I got to tell you, I can't think of the most wonderful thing that could happen to anybody. You just heard it. That was the greatest and most important and loving thing that ever happened to me. I got the family. I got the beautiful woman. I got the great sons. I had a business partner because ultimately, we ended up partnering in real estate and ended up owning a company and working together, we've always been partners in everything that we do. And I just completely respect her. She's smart, she's quick. She can make quick decisions and reverse it just that fast. So she taught me so much of the potential that I had that I never used because nobody asked me to.
[00:10:17] Speaker B: Wow.
[00:10:18] Speaker C: So that's a great story. I mean, I can tell that story.
[00:10:21] Speaker A: It's a wonderful story.
Valentine and a Valentinee, I think, is one way we could put it. It reminds me a little bit of letters that we discovered after my mother passed away between my father, who was army Air corps pilot in the World War II and when they were just.
[00:10:41] Speaker B: Starting out, being married and before that.
[00:10:44] Speaker A: Even dated, same kind of thing. They grew up together from the time.
[00:10:48] Speaker B: They were very young.
[00:10:50] Speaker A: And those letters that came, I wouldn't say they were rated at the end of the Alphabet, but there was a.
[00:11:01] Speaker B: Lot of love and a lot of.
[00:11:02] Speaker A: Sharing there to hear a story like.
[00:11:04] Speaker B: That on Valentine's Day.
[00:11:05] Speaker A: Mr. Stabler, I'd like to really thank you for taking the time and doing that with us.
[00:11:10] Speaker C: You're welcome. My pleasure.
[00:11:12] Speaker B: Outstanding.
[00:11:12] Speaker A: Outstanding job.
[00:11:13] Speaker B: Sure. Appreciate it.
[00:11:15] Speaker C: Thank you. Great time. Love telling that story.
[00:11:21] Speaker A: We're going to take a short break. We'll be right back.
[00:11:27] Speaker D: Welcome to the real estate minute with remax expert Michael Hatfield. Michael why choose an experienced agent?
[00:11:33] Speaker E: Complex issues arise in a home. Buy or sell, your agent guides you through issues in multiple offer situations. First time home buyer needs problems with inspections, financing and escrow. Experienced agents sort and then solve problems.
[00:11:47] Speaker D: Do agents work differently now than in prior years?
[00:11:50] Speaker E: Buyers used to go to an office, thumb through a book, see pictures, then decide which homes to see. Nowadays, buyers identify properties themselves online so today's agent can focus on more critical priorities.
[00:12:02] Speaker D: How do you help clients?
[00:12:03] Speaker E: Michael we work with investment properties. Multiple offers, first time home buyers sellers 1031 tax exchanges and relocations experience is pivotal.
[00:12:12] Speaker D: Call 925-32-2775 now to schedule an appointment or complimentary home analysis. Call the Michael Hatfield remax team at 925-322-7775 or go to michaelhatfieldhomes.com.
What does an agent do to get a home sold?
[00:12:33] Speaker E: Typically, an agent will prepare a comparative market analysis so he knows the home's value, then creates a marketing plan tailored just for your home. With these plans, he promotes the home globally and locally in social media, publications, open houses, all for the purpose of getting your home front and center with prospective buyers.
[00:12:52] Speaker D: As an agent, how do you get it sold?
[00:12:54] Speaker E: Michael we do each and every item in the plan, negotiate vigorously on the client's behalf on inspection, repairs, staging, and importantly, the deal itself. We do everything we can to get the deal done and closed.
[00:13:07] Speaker D: Call 925-32-2775 now to schedule an appointment or complimentary home analysis for excellence in real estate, call the Michael Hatfield remax team at 925-322-7775 or go to michaelhatfieldhomes.com.
[00:13:24] Speaker A: Now back to our show.
[00:13:31] Speaker B: Wow, what a compelling story from Mr. Stadler. It was just fascinating having him talk.
[00:13:36] Speaker A: About his childhood sweetheart that turned into.
[00:13:40] Speaker B: Eventually lifelong partner isn't amazing.
[00:13:44] Speaker F: Such a neat story. I love it. I love it.
[00:13:46] Speaker B: Yeah. Well, I've asked my partner Nancy to come on, talk a little bit about housing inventory, and she's read a couple articles that she found fascinating. She'd like to relate them to you.
[00:13:58] Speaker F: Right. Some of the topics. One of them was the inventory problems that we're experiencing right now. And I think, or we think they're probably here to stay for a while. The massive inventory issues just, I mean, it's quite the challenge, don't you think, right now?
[00:14:15] Speaker B: Yeah, I sure do. We looked at it in another report and it was like the new home sales had went up about 3.7% year over year. I think that was in the month of November. But I don't think they can build them fast enough in order to take care of some of the issues that we have with inventory. What else have you seen over there?
[00:14:37] Speaker F: Right. One of the issues being can they pick up the slack? But anyways, we don't really expect a tidal wave of construction to occur. I mean, they're going to be building and such, but not enough to improve the whole housing situation. So at the end of the day, it's still going to be a seller's market, right?
[00:14:58] Speaker B: I think so.
[00:14:59] Speaker F: And we might just be talking about this in three, five years from now. The same thing, not quite enough inventory.
[00:15:07] Speaker B: I think it's going to be here for a while. Unfortunately, buyers haven't quite awakened, I think to the point that they're going to see a lot of competition moving forward to get their own home. And at the same time, rental costs go up significantly year over year over the last 1015 years. I think it's going to continue that way.
[00:15:29] Speaker F: In the past, it seemed like it would take longer to complete a deal, but nowadays a deal could close as early as, what, seven, nine days?
[00:15:41] Speaker B: Cash deals. Yeah. Much faster because of technology. But technology is not going to do anything for housing inventory. That's a real shortage.
[00:15:50] Speaker F: Inventory is short and it'll control the home pricing. I mean, that's just going to happen, right?
[00:15:57] Speaker B: It's like loaves of bread on the shelf at the supermarket. If you've got ten loaves of bread, you got ten buyers. Price is going to likely stay the same. If you have ten loaves of bread on the shelf and you have 30 people coming for those loaves of bread, it's going to drive the price upwards. So the people await. It's going to be costly, especially if you have any type of inflation on top of that. So anyway, let's take another look and say, well, why are sellers selling now? What are the reasons? We did a inter office poll at Remax Accord and we found that the number one cause is inherited. A death or a successor trustee has taken over ownership and there needed to be a sale due to that reason. Number two, investments to include an exchange or bad experience with rentals.
Then the third one is moving out of the area, somewhere closer to the family or for political reasons or what have you. Number four, retirement to some other retirement area, such as what Pat Patucci was saying when we was on the program, somewhere like Portugal or somewhere else, health reasons. Is number five, moving down?
Number six, a job transfer.
Number seven, divorce. Number eight. Number nine is moving up, trading up your home. Number ten is just in time for. Just time for a change. And number eleven, the sale of a lot. Number twelve, wanted to get out of the state. And number 13, a flipper. Those are the reasons. And number 13 reasons from our office poll is why people or sellers would want to sell. Do you have any thoughts on that?
[00:17:45] Speaker F: Well, we've helped several sellers because of those reasons, and it's just a smattering, depending on who you're working with at the time. But some definitely have moved out of state, some have moved up, some have downsized. It's been all of those kinds of reasons, but we're there for them.
[00:18:03] Speaker B: Yeah, thinking about inventory, inventory is definitely more important than the interest rates. In my view, interest rates now are, they're around a conforming 6.4%, roughly conforming 30 year fixed rate loan. And if it's a jumbo 30 year fixed is about 6.37, about the same.
How do you beat that? Well, you can wait a little bit longer and it come off maybe half a point down into the fives, but at the same time, the value of the home is going to go up. So you're chasing the value of the home upward, which is far more money than what you'd pay in a year as a difference in the interest rate. I also wanted to talk about locking your rate. When you're working with a lender and you have a home that you're buying and your loan process is almost complete, you are asked, well, when do you want to lock your rate? The interest rates just change every day. They go up, they go down, and you have to decide, are you going to lock the rate today? Are you going to wait tomorrow? Because the rate will go down a little bit.
It's like my dad used to say, it's kind of a crapshoot when you do it. So you just do the best you can and make a decision, lock your rate accordingly. So that's kind of how it works. But we're anticipating interest rates down in the fives in the next few months as the Fed reserve meets and changes. The Fed rate, incidentally, fed rate is not the mortgage rates. Fed rate is what the Federal Reserve charges banks and their best customers to borrow money. And the mortgage rate kind of floats on top of that, up about three points above it or more. So it's associated, but it's not directly the same thing, so to speak.
[00:20:00] Speaker F: So we might have some of our buyers who stayed on the sidelines a little longer and they might show back up and decide they're ready to try at it again and feeling a little more optimistic. So we hope so.
[00:20:14] Speaker B: I hope so. Sales of new homes finished 2023. They were up 8% in December, and that's 4.2% ahead of 2022, which was the first yearly gain since 2020. And the median price of new homes sold has fallen 20% from its peak in 2022. Those are national.
National percentages that we're talking about. Pending Home sales sign contracts. When a home goes pending means that they have a signed, agreed upon contract, but it hasn't closed escrow at that point. So pending home sales index of signed contracts on existing homes ended the year up 8.3% in December. So that's pretty good. It's a 13% increase in those sales this year and a 15.8% rise in 2025, which is what is expected. So it's kind of interesting.
[00:21:23] Speaker F: There we go.
[00:21:24] Speaker B: So, Nancy, when you and I met, it was a long time ago. And what do you actually remember when we met? I remember very clearly, young guy over to the beach and had just came back and had to call into his business to find out where things were there. And I pulled into this restaurant parked right out front, and why don't you tell the story?
[00:21:54] Speaker F: Well, what I remember is I was there around happy hour time, and I was going to go make a phone call to one of my best friends to see what she wanted to do for the night when she got off work. And I went to the phone bank back then when we had phone banks, and I went to make a phone call and I looked over and I saw this really good looking guy and thought, where did he come from? And then the next thing I knew, he was saying something to me. And I looked at him and thought, he's talking to me. What is he saying?
And I was actually very surprised. And he said something like, hey, you want to go out and hear my new stereo in my car? And I looked at him and I thought, this was a lot of years ago, so it was just kind of an off the wall request or invitation. And I thought, where's your car? Right outside the restaurant. I said, well, sure.
[00:22:53] Speaker B: That was a funny time.
[00:22:55] Speaker A: I remember walking into the restaurant and.
[00:22:57] Speaker B: I see this really good looking woman. And I just decided that I wasn't going to take the phone on the end of the line of phones. I was going to go right up next to her and make my phone call. And that's what I did. And then when she got off the phone, I had to get off the phone real fast in order to be.
[00:23:15] Speaker A: Able to talk to her. So I had to come up with something to say. And I hadn't really come up with something to say.
[00:23:22] Speaker B: So the first thing that came out.
[00:23:23] Speaker A: Of my mouth is, you want to.
[00:23:24] Speaker B: Go hear my new stereo? My car?
[00:23:27] Speaker F: It's pretty good.
[00:23:28] Speaker B: So that's my sweetheart story. And I want to tell you that we've been hanging out for 40 years in April. 40 years. And it happens fast, guys, I guess. Can't tell you how fast that it happens.
[00:23:44] Speaker F: It's all good.
[00:23:45] Speaker B: It's all good.
Well, back on real estate for 1 second, I want to talk about encumbrances. What is an encumbrance? An encumbrance, you see these on titles. Liens and encumbrances are actually. They're related to ownership of the property, but they have a difference between the two. An encumbrance is a claim of other type of an issue that restrains or burdens your full ownership rights to the property.
Another type is a lien. A lien is a type of encumbrance that has to do with something like a mortgage and it's a monetary claim against that particular property.
People should know, if they don't already, that when escrow closes on a home buy transaction, all liens and encumbrances are either agreed to or they're removed from the property. In the case of liens today, I would say most all liens or loans are paid off out of the proceeds from the sale prior to the home closing escrow, which is kind of a cool thing.
So with that in to, we're out of time. So as fun as it was with Mr. Stadler and talking it over with my partner in life, Nance, I have to say happy Valentine's day. And the stories, I just love the stories.
[00:25:18] Speaker G: Finding your dream home in the Bay area is one thing. It's the negotiations that can be a challenge. I'm here with real estate expert Michael Hatfield. Michael, talk about it.
[00:25:26] Speaker B: You're right, Aubrey. Multiple offer situations. It's really very important that you have an experienced agent to help you out, to connect both parties of the buyer and the sellers.
[00:25:36] Speaker G: Let's hear from one of the homeowners.
[00:25:38] Speaker H: Well, we were in the market to buy a house in Pleasanton for a very long time. So we saw this beautiful house. We walk in, we see Michael and Nancy. We just absolutely loved this house. Michael brought in a wealth of knowledge and experience to the whole home buying process. He was very professional. And both Michael and Nancy went way above and beyond to help us and to help us achieve the house of our dreams.
[00:26:06] Speaker A: You've been listening to real estate and.
[00:26:08] Speaker B: More interesting people like Jerry Stadler and of course, my bride and my partner, Nancy.
[00:26:16] Speaker A: Topics of the day.
[00:26:17] Speaker B: And of course, we do talk about real estate. Listen to on demand real estate and more shows at Michael hatfieldhomes.com slash radio.
[00:26:26] Speaker A: The real estate and more show is.
[00:26:27] Speaker B: Also podcast on Spotify, Amazon, Apple, iHeart, Pandora, and most major podcast platforms as well. Tune in next week and until then, have a blessed week.
