Co-Buying Can Get You Into Homeownership Faster

OUR GUEST THIS WEEK IS: Pete Heim, Realtor 

One in three buyers may be teaming up to buy a home, and that single stat raises a huge question: is co-buying the future of homeownership, or a shortcut that can blow up later? We dig into what co-buying actually means (non-married co-borrowers, friends, relatives, and partners), why it’s rising, and how it can turn rent money into a real estate investment when affordability is tight and inventory is thin.

We also zoom out to what the 2026 housing market looks like beyond the headlines. We talk through National Association of Realtors data on home prices across metro areas, why interest rate shifts ripple through demand, and how the Northeast continues to surprise with pockets that stay competitive. Then we get specific about what we’re seeing in places like Pennsylvania, Delaware, and Maryland: new construction popping up, retirees rethinking where they land, and the real draw of lower taxes and no sales tax.

From there, we move into practical buyer strategy. We explain why a fully underwritten approval can beat a basic pre-approval, how offering a short post-settlement occupancy to the seller can make a financed offer feel less stressful, and why targeting listings that have been sitting for 20+ days can be a smarter path than chasing the hottest house on day one. We also unpack the wild equity story: homeowners are sitting on about $11 trillion in tappable home equity, and only a small slice has been accessed, which helps explain how some buyers compete like cash.

If you want a clearer read on housing inventory, co-buying risk, cash buyer pressure, and real tactics that can win in a competitive market, hit play. Subscribe, share this with a friend who’s trying to buy, and leave us a review with your biggest homebuying question.

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Welcome to The Brad Weisman Show, where we dive into the world of real people, real life, and everything in between with your host, Brad Weisman! 🎙️ Join us for candid conversations, laughter, and a fresh take on the real world. Get ready to explore the ups and downs of life with a side of humor. From property to personality, we've got it all covered. Tune in, laugh along, and let's get real! 🏡🌟 #TheBradWeismanShow #RealPeopleRealLife 

Credits - The music for my podcast was written and performed by Jeff Miller. 

Transcript

Cold Open And Big Welcome

SPEAKER_03 0:30

Are you ready for this? Dun dun dun dun dun dun dun dun dun dun dun sorry.

SPEAKER_01 0:35

Okay, here we go.

SPEAKER_03 0:37

That's okay. All right, here we go.

SPEAKER_01 0:39

This is gonna be a good one, Hugo. The Brad Wiseman Show. Real people, real life, and everything in between. So, what do your kids think of this?

SPEAKER_04 0:48

Oh, they are so embarrassed.

SPEAKER_01 0:50

In order to be unstoppable, you simply don't give up. You get knocked down, you get back up again. Where curiosity opens the door to genuine connection. Men really struggle with their emotions. They really struggle with even understanding what's going on. Unfiltered conversations with the people shaping our world. What kind of show is this? And there's red quilted leather all over the walls. There's a swing hanging from the ceiling. I don't sweat you. And now, your host, Brad Wiseman. All right.

SPEAKER_03 1:24

Hugo. I know in the beginning I said this is gonna be a good one. I'm not so sure about that on this one. It's gonna be a good one.

SPEAKER_00 1:32

Yes.

SPEAKER_03 1:33

That shirt. You know, even if you are listening to this without a visual or just you're just listening to the show, I bet you can see his shirt. Even on Spotify, you can see that shirt. You can hear it. You can hear how how bright that shirt is. You have to see his shirt. It's a bright shirt. It sounds like it sounds like yeah, it does. It has that sound. Put a picture on it. Well, now you know who's on the as the guest. I mean, geez, he just chimes right in, doesn't even be introduced or anything. Pete, how you doing, buddy? How you doing, bro? Good to see you. Good to have me back. Yeah. Thank you. That's this 60 days goes quick, though, I gotta say. It goes so fast. Yeah. Yeah, it's it's crazy how fast it goes. But but there is stuff that's that's going on. Yeah, we always have stuff to talk about. Our our world is is constantly changing. It is. It's it's it's evolving. Let's put it that way. It's evolving. So yeah, so the thing that we both saw that I think we should talk about a little bit. Yeah. Is well one, let's just the market's still doing very well. Oh my gosh.

SPEAKER_02 2:34

Yeah, my goodness, yeah.

SPEAKER_03 2:35

Right. And and in the locally, 432 homes in the market when I checked about an hour ago.

SPEAKER_02 2:39

Yeah.

Co-Buying Trend Explained

SPEAKER_03 2:40

And so it's going well. And so tell me about the one topic that was kind of interesting that we you found.

SPEAKER_02 2:45

The co-buyer, the co-buyer thing was really surprising, actually. I think it was because 31.5% of purchases, and I forget what it was, something like that. Or yeah, the Gen Zers. Well, the Gen Zers are saying I forgot my gum. Go always check out. Let's all pause.

SPEAKER_03 3:06

Now we're good.

SPEAKER_02 3:08

Let's digress on that again. You know, that intro, I still have a hard time getting used to the red velvet room. Intro? Really? The red velvet. The red velvet room things in the it does make me giggle each time. Brad's saying, this is going to be a great show. Yeah, it's a it's a it's funny. Hugo puts together good stuff. But co-buying. Co-buying is a way for people to get in a home that maybe possibly couldn't do it because it gives them more leverage and all that kind of stuff. But the but the numbers, I'm surprised in two. You thought it'd be more or less? I thought it'd be less, Brad.

SPEAKER_00 3:39

But what is co-bying? Isn't it?

SPEAKER_03 3:41

Right. It just here's the thing, Hugo. Good question. That's a great question. Really good question. Because when you make a jump at a head, you throw me off. But hey, at least I got my gum. That's okay. Yeah. Brad got his mouth. I had time to get my gum in the mouth. But no, seriously, here's the thing, Hugo. Same thing I thought. It's a non-married, right? Non-married buyer. Right. Or buyers. Yeah.

SPEAKER_02 4:04

Normally a relative or is usually the case. Usually.

SPEAKER_03 4:08

But if you're but if you're together and not married, it still counts as that. That's right. It does. Which, if you look at our the way things are going in in our world, there's a more and more of that. There is, yeah. As marriage is not as popular, you're going to have more people that are just co-borrowers. Cohabitating. Cohabitating, yes. Living in sin. Yeah, yeah. I didn't want to say it. No, that's right.

SPEAKER_02 4:32

Follow Tom if you're listening. I didn't say it, just so you know.

SPEAKER_03 4:35

Yeah. So no, so that's the thing. It's interesting. But it is going up.

SPEAKER_02 4:37

It is going up. Yeah, it is. But I, you know, whether you agree with it or not, it's just a statistic that it is going up.

SPEAKER_03 4:43

So then once again, is it because of affordability or is it because of morality changes?

SPEAKER_02 4:49

That's a great question.

SPEAKER_03 4:50

You know what I'm saying? You always have to look at statistics. I think it's both from both ways.

SPEAKER_02 4:54

I think it's both.

SPEAKER_03 4:55

Yeah. Yeah. I think so too.

SPEAKER_02 4:56

Because think about our parents. There's no way in heck they were going to do that. They weren't going to cohabitate, were they? No. No, they just go in the back of a car.

SPEAKER_03 5:05

That's right. Exactly. I think that's where I was conceived.

SPEAKER_02 5:10

Your dad stopped me at the last function. Yeah, yeah, yeah.

SPEAKER_03 5:12

I'm sure we had a nice conversation. I'm sure. I'm sure. Yeah. He looks like a Chevy, right? Exactly. So no, does Brad look like a Chevron?

SPEAKER_02 5:20

Yeah, it's kind of weird. I think he looks like a 49-old with a Bacheling grill. Bashling. Look, look, look, look at it.

SPEAKER_00 5:27

Maybe I would think there are some people who are doing it strategically, maybe, as opposed to the biggest thing. Well, that's that's true.

SPEAKER_03 5:33

Here's what also it said, Hugo, which was interesting, is that I think part of it too is if you can't jump in to be a part of this investment that is just incredible, especially over the last five years. If you you can't afford to do it on your own, why not look at it as a business decision?

SPEAKER_02 5:50

Yeah.

SPEAKER_03 5:50

Right? Sure. Go, hey, to a buddy, like we're both looking to pay$1,800 a month in rent. Why not pull our resources and make it as an investment? Yeah, good. And then later on, what's nice is that when when it comes time that that you can buy your own house, then you guys you sell it or somebody buys you out and you go to the house now with somebody you want to be with, you know, as far as a partner. It gets you in. Exactly. And that's what it solves. That really is what it solves. I think it's a great, great idea.

SPEAKER_02 6:19

But what but you said it's an unmarried partner. So it could be like more, it's like a bit it's a business relationship, really. It doesn't really need to be. No, but I can it could be a friend. It could be a friend.

SPEAKER_03 6:29

It could literally be a friend. Yeah. It could be a good idea. And I think that's what it is. It gets that it gets them in the door to the homeownership investment.

SPEAKER_02 6:37

Yep.

SPEAKER_03 6:37

And then they can do something later that is more traditional.

SPEAKER_02 6:41

That's right. And if they're sharing bedrooms or something, that's on them. Yeah, that's right. That's right. Yeah. You gotta have at least a two-bedroom home to make it morally possible.

Trust And Contracts For Co-Owners

SPEAKER_03 6:49

I think it's a great idea. The only thing that I think people need to be very, very they need to be aware of is the commitment of buying real estate together. Together, yeah. Is actually a huge commitment. Yeah. Because you're not getting out of it well that quickly.

SPEAKER_02 7:02

No, and KCM recommends a written contract.

SPEAKER_03 7:04

Oh, it does. Okay. Good point.

SPEAKER_02 7:06

It says if you're considering like a business contract. Yeah. You want to think over a couple of things. Co-buying, you gotta trust the person. Of course. And so but then it does say that it does re- recommend getting into a written co-ownership agreement. Yeah. I guess that's like a separate.

SPEAKER_03 7:21

Now they do them as LLCs or are these done as I guess. Or are these done as like owners, just two people.

SPEAKER_02 7:27

Well, LLC is probably the most cleanest way to do it.

SPEAKER_03 7:30

But then you're talking. But now what you gotta do though is you can't do FHA, you can't do VA, you can't do first-time buyer, you can't you gotta more money down, you know.

SPEAKER_02 7:40

So But you know, who's taking care of which electricity or you know how you split in the utilities? One's using the There needs to be a serious conversation.

SPEAKER_03 7:47

Yeah, yeah.

SPEAKER_02 7:48

Because what if you come and go like once once or twice a month and the other guys living there a lot, so who's more responsible for your utilities? You know, that kind of thing. That's it.

SPEAKER_03 7:55

And that's where things get a little weird. As soon as somebody meets somebody, yeah, and now you're like, oh, I'm not spending much time there. And but it's still an investment. It's still an investment. I think that's you have to do. You have to look at it as more of an investment than just a home at that point.

SPEAKER_02 8:08

That's right. You do. Yeah. You're like who's cutting the bushes, who's cutting the grass.

SPEAKER_03 8:12

And I think it's but it is amazing. So this this percentage of buy this percentage of the of the market was in 2021 was 25%. Exactly.

SPEAKER_02 8:20

And now it's now it's up to almost one in three. Yeah, exactly. That's crazy. Well, you know what's weird, Brad? What's that? That's almost the same statistic of cash buyers right now. Okay. So is that what it is? It's 30%. Which is blows my mind. Right, because we remember it's 10%, 5%. Yeah. Yeah. Probably less than 5%. It's 30 now. But isn't that kind of funny how it's almost the same status? That is that is interesting. I don't know if it has something to do with it.

SPEAKER_03 8:47

Yeah, maybe it might.

SPEAKER_02 8:48

Who knows? We should research that one for next time. Yeah. Definitely. Give me two months to do it.

SPEAKER_03 8:52

But that's cool. So what you said, you have some NAR numbers, right?

SPEAKER_02 8:55

I do. And it has to be too with home prices. Okay. Uh no, NAR is National Association of Realtors, so this is again a national thing, a national statistic, but it says home prices rose in 71% of all the metro areas in the United States. And so there's 235 of those. Yeah. That means 167 of them got higher pricing in this first quarter of 2026. Which is interesting. It was a half a percent, but the fourth quarter of 25, it was down. It was down 1.2%.

SPEAKER_03 9:27

So do I think that's because the our first quarter, most of our first quarter before I ran, you know, was was lower. The interest rate was lower. It was lower. It was like close to 5.9. Yeah, it was it was getting down there. It was. And Hugo was happy to see the rates go back up because he likes to know that everybody's paying more than he is. No, no, no, no, no, no, no. No, no, no, no, no, no, no. No, no, no. It's Hugo's fault that the rates are up, by the way. I heard that. Yeah. It's the show. We'll give you his home address later. He has a really nice porch light you can shoot out. But no, it's pretty, it's it's interesting how you know the the rates come were down the first quarter, which is going to affect that the the the all across the country. Yeah, it is. It's amazing.

SPEAKER_02 10:10

But Northeast is still kicking buttons. Dude, Northeast is well, no in Midwest also. Yeah. It's well, what did I say?

SPEAKER_03 10:18

Like Ohio, do you mean like Ohio, that kind of? Or no?

SPEAKER_02 10:20

No, it's more, it was Missouri. No, not Missouri. It wasn't Missouri. Arkansas, it's more breadbasket. Okay. Was about the same as the Northeast. Wow. So that's coming around. Yeah. I gotta say, Pennsylvania is like one of the states in the Northeast that's really holding it. Yeah, holding it together. Yeah. We're like the Bostons of the world.

Northeast And Delaware Market Signals

SPEAKER_03 10:38

Look at our area. There's nothing to buy.

SPEAKER_02 10:40

Right, but the Bostons of the world are having a tougher time, yeah, too, and stuff. And obviously all the shore points are are struggling.

SPEAKER_03 10:47

When I'm working with a customer right now who has been waiting forever to buy something in up north northeast, like northeast part, like like Connecticut and those areas. Okay. And they've had a hell of a time finding something. And they just text me today and said, you know what? It was just today. The market is loosening up. Yeah. We're seeing more and more houses on the market. So that that area is getting affected by whatever.

SPEAKER_02 11:11

I think I know why. I have a a friend, a realtor friend up there who she's been doing these downsizing seminars. Yeah. You know, we've been kind of doing them here a little bit, just to inform people what to do, how to declutter, all that junk. And she said they're packed.

SPEAKER_03 11:24

Get out of here.

SPEAKER_02 11:25

And there's there's people putting their homes on the market in that baby boomer kind of category. And she says, Pete, it's they're all now just starting to come on the market. They're going. Yeah. And that's that's outside of Boston.

SPEAKER_03 11:37

Well, and that's not in Boston. So that's interesting. So Pennsylvania's now kind of in this place in itself. Yeah. You know, I think Maryland, Delaware's on fire. I mean, I just I was just down to the beach last weekend. On the way down to the to Maryland, to Ocean City, Maryland, the back roads of Delaware are just unbelievable. I mean, every you go on these back roads in your middle of nowhere, and all of a sudden you see a 400 unit, you know, development going in. It's it's it's unbelievable. Yeah, a lot of it is Ryan Holmes. Ryan, yeah. I saw also what's the other one? Lenar? Lenar is there. Is another one? There were some other ones in there too, I don't remember. Toll Brothers, oh, it's probably Toll Brothers, yeah. But it's just unbelievable. They're just building like crazy. Yeah. It's and I guess because there's a lot of land in there.

SPEAKER_02 12:20

And how how close is that now? You said it's back in the boonies.

SPEAKER_03 12:23

This is in the boonies of Delaware area.

SPEAKER_02 12:25

I mean, I mean, Delaware's kind of a small, narrow state, right? So they're probably not that far from the beach. They're not. They're they're not beach. Yeah. Yeah. Pretty much in Delaware. Yeah.

SPEAKER_03 12:34

You're either close to Maryland or you're close to the beach. One or the other. Yeah, you don't have a lot, there's not a lot of choice there. But no, you're probably talking 30 minutes from 30 to 40 minutes from the beach. It's really good. Yeah, it is. And that's why people are doing it. Think about it. You can move down there. The taxes are awesome down here. The taxes are really, really good, really low. And now you and no sales tax. That's right. No sales tax.

SPEAKER_02 12:58

No sales tax.

SPEAKER_03 12:59

So buying furniture, buying TVs, buying all that stuff for your house, you're not paying tax on it. You save a lot of six percent. You're saving or whatever.

SPEAKER_02 13:05

And you get total wine.

SPEAKER_03 13:06

Yeah, total. Yeah, the wine, that's right. The alcohol's a lot cheaper. The wine's a lot cheaper. It's just a cheaper uh way of living. So what happens is now you retire instead of moving to Florida, you move to there. Yes, you're gonna get some snow here and there, but it's always gonna be about 10 degrees warmer than it is here in Pennsylvania. And you get to go to the beach. Yep.

SPEAKER_02 13:26

So it's and they're keeping that northeast stat. Yep, absolutely.

Inventory Up Because Listings Linger

SPEAKER_03 13:30

So it's just interesting that PA, Delaware, Maryland, I think, is doing pretty well with real estate. It's great. Yeah, it is. Yeah. So there's some other stuff here that some other things that were interesting. Inventory growth is driven more by homes staying on the market longer rather than fresh supply. Oh. So listen to this stat here. This is from Keeping Current Matters. In 2021 and early 2022, 85 to 90% of the inventory was made up of new listings. Okay. January 26th. Well, that was unicorn. January 26th. Yeah, exactly. January 26th, that ratio has fallen to just 36%. So the rest of the homes on the market are just sitting there. Is that national? That is national. So it's not just here, but that's an interesting statistic. That when you, you know, and you have to look at that. When inventory goes up, is it new listings?

SPEAKER_04 14:40

Yeah.

SPEAKER_03 14:40

Or is it stale listings? You know, ones that are just sitting there. They got mold on them, they're rotting. I mean, people don't want them, you know. But no, it's it's it's a big deal. That's a big difference there.

SPEAKER_02 14:51

That that's an amazing difference.

SPEAKER_03 14:53

Huge. And that's from realtor.com. Is that's that's a number from realtor.com.

SPEAKER_02 14:58

That's realtor.com, but don't keep it. Do you uh but I'm just curious, what was the title of that article that you saw?

SPEAKER_03 15:04

It just says inventory growth is driven by more homes staying on the market longer because supply.

SPEAKER_02 15:11

Yeah, pretty well. That's wild. Yeah, I thought that was interesting. Well, you know, we don't have that many on the coming on the market much. I mean it's it's we're at 429. Last I checked, it was an hour ago, maybe, or two. 4290.

Buyer Hacks That Win Offers

SPEAKER_03 15:23

And it's it's an interesting type of thing because you you have you have people buying every day, you have new listings coming on every day, and then what happens is if the new listings coming on are not priced right, that raises that wholesale property inventory. It does. You know, and it changes things a little bit. And that's that goes right into some other stuff that I I I would these are like little buyer hacks. I I actually went in. I went into to ChatGPT, my buddy. Chat's nice, though. Do you ever meet Chat? Oh, Chat's. Yeah, absolutely. Yeah. Gemini's really nice too. She's she's hot. I mean, she's really she's hot if you really know. Gemini's really hot. Never mind. Well, Gemini and Chat are now David Claude. If you knew that. Claude's a nice guy. That's the stupid uncle, though. He's not that great. Probably get sued for saying all this stuff. Hugo's like, don't say my name. Yeah, exactly. Uh, but no, but this was interesting. I kind of edited it a little bit. I put in the question of what's a good what are good buyer hacks for the northeast area where there's a lot of where there's lack of inventory. And this was interesting, and you'll you'll probably you'll chime right on this. It said, this I agree with, instead of getting a pre-approval, get a full underwritten approval. Underwritten, yeah. A full underwritten approval. Yeah. And what that means, guys, is that you know, there's people out there, and we we know, there's people out there that will write a pre-approval based on your credit check and what you say you make. That's it. That's it. They'll write a pre-approval, no proof, and no proof, no nothing. They didn't really verify anything. It was just a phone conversation or a computer uh program. If you are, if you can find a lender that does a full underwritten approval, that means that they went to the underwriter with all your stuff, your bank statements, your income, your expenses, your credit report, and they say approved contingent on finding the house that you want, that's much better. Right, right. And if you can send that kind of an approval, and there are lenders that do that. Stronger. That's it's much stronger. It's not going to be the same as cash, maybe, but it could be. There's things you could add in there to make you know other terms that you can do to make why why wouldn't lenders do that by default?

SPEAKER_00 17:30

What's the downside?

SPEAKER_03 17:31

Because it takes too much time.

SPEAKER_00 17:32

Oh, okay. It takes too much time. Got it.

SPEAKER_03 17:34

You're you're you're you're running people through the process. So the underwriter's working, the processor working, everybody's working, and they might not need to because it might not ever happen. Right. So but you there's lenders that do it. Yeah. And I know that for a fact. In fact, that when I have a a listing, do you do this? I say to them, did they verify their funds? Oh, yeah, absolutely. Did they verify their bank statements? Did they verify that's the difference between a good realtor and a not so good realtor? Yeah, right. You gotta have the proof. I want to know. Yeah, absolutely. If it's stated, yeah, and that doesn't work for me. Yeah, no, you can't. I mean, anybody can state what they make and what they spend, what their expenses are, right? Yeah, yeah. You know, these are good things.

SPEAKER_02 18:11

One of our close lenders that we're working with right now, he just texted me today, and he he he's he's rewriting these underwritten pre-approvals 15 or so a weekend. Oh my gosh. And and see, that's what we're talking about right there, Hugo. Yeah, and they're in price ranges where they're highly competitive and like 15 deals, nothing nothing formulates. Yeah. 15 deals, nothing formulates. And this this is the top way you can get an approval. And it's still that competitive. However, the other ones that aren't aren't having those pre-written, yeah, pre-approved approvals, basically, get thrown in the trash. I mean, they're just they're just getting pushed aside. Yeah.

SPEAKER_03 18:55

I'm very picky when I'm working for the seller. Oh, yeah. I'm very picky to make sure that you know, it wasn't for one, it's not an out-of-town one that I don't know who they are. It's not an online one that I don't know who it is. Right. You know, I'm very picky, and I know you are too, that if I'm getting four agreements in if there's three that are great and lenders and I know they're awesome and I know them personally, and I know they do their a good, you know, they're very legit, they're gonna have a uh they're gonna get a better position. Yeah. Because I'm gonna tell my seller that, my client that's it's ultimately the client's choice. Yep. But you gotta, if you educate them, they're typically gonna get a good idea. And they're gonna ask for advice, you know, pretty much. Yeah. So going with that, the other one was telling the seller, the buyer telling the seller that they would be allowed them to stay in the house 30 to 60 days, no charge after settlement. That's that's a big one. It's a huge one, right? Especially older people. Yeah. So, you know, now you look at cash versus financing. Yeah, you throw that in on a finance deal. Oh, yeah, you know what I mean? It that could be something that makes it. Now, you gotta be careful where you put all that information because sometimes the lenders don't like to know that you're gonna have 30 to 60 days that nobody's not living there. It's just gotta be careful with that. Yeah, it's a it's yeah, it's something you just gotta be careful with. Yeah, yeah. And then, you know, but I think that's a big one. I mean, because a lot of people, especially older couple older people, yeah, that are feel rushed. This is very stressful on them. You know, they're they're mover, the mover thing and everything, that makes a big deal. Oh, it's it's worth money. That's a great hack. So worth it's worth money. Yep. And then the last one was, and and we we I know you and I talked about this, is for your buyers, look for listings that were on the market more than 20 days. Oh, yeah. Yeah, right? I love it. The multiple offer properties will be gone in less than 20 days. Yeah. After 20 days, less than three. Yeah, less than three, exactly. Less than three days they'll be gone. Those are the those are the hot properties. And I'm sorry, sometimes you're just not gonna get the hot property. That's right. You know, and that's okay. You can make it a hot property and sell for more money later. That's right. So that's the thing, is look for properties that are older than 20 days on the market. And a lot of times you'll be making an offer that's FHA, you're asking for five for closing costs, and you'll get the property.

SPEAKER_02 21:02

Yep. I also want to add to that one higher price ranges. Oh, because there's less people that can afford those. So if you get into the you know, million, million and a half-ish, you know, somewhere in there. I mean, it's one or two percent of the population can afford it.

SPEAKER_03 21:17

Yep.

SPEAKER_02 21:18

So those are usually sitting longer. Yeah, and usually those sellers are usually willing to negotiate, usually sometimes, not all the time.

SPEAKER_03 21:24

Yeah, million dollar property, it's it's possible. You get it for 875. It's right. You never know. You never know.

SPEAKER_02 21:28

Yeah.

SPEAKER_03 21:28

Probably won't be FHA.

SPEAKER_02 21:30

Uh no. It won't be.

SPEAKER_03 21:32

Although that's starting to go up there, I'll tell you. FHA can't be able to do it. It's getting close, isn't it? It really is. I think or something, isn't it? Yep. So what else do you have?

Tappable Equity And Cash Strategies

SPEAKER_02 21:39

Any other things? Uh that I want to talk really briefly about the uh the equity. Yeah, oh that's right. Yes, that was a good one. Go ahead. And this was an NAR thing, I think, wasn't it? Yeah, it was. And so listen to this, guys. Homeowners right now are sitting, and then this is national,$11 trillion of tappable equity. In other words, you take the value of the home minus the mortgage and whatever things against it, what's left,$11 trillion.

SPEAKER_03 22:06

It do you do you know do we know how if that's like a record? I mean, obviously, as the market goes up, it's always gonna be more. But percentage-wise, is it is that uh is that it was abnormal?

SPEAKER_02 22:14

It was$10 trillion back in September.

SPEAKER_03 22:19

So yeah, it's more and you said something about 3%. What was the 3% thing?

SPEAKER_02 22:23

Yet only 3% has been accessed.

SPEAKER_03 22:26

That's crazy.

SPEAKER_02 22:27

Yeah. So take 97% of 11 trillion, and that's what's not accessed right now.

SPEAKER_03 22:32

That's actually just sitting there.

SPEAKER_02 22:34

It's just sitting there, untapped.

SPEAKER_03 22:36

Unbelievable.

SPEAKER_02 22:36

Yeah.

SPEAKER_03 22:36

And you know what's tappable. But this is what we said. That could be where that 3% is probably where some of these cash is. Yep.

SPEAKER_02 22:44

Yep, because that's where the the cash is.

SPEAKER_03 22:45

They're just pulling they're pulling the cash. Yeah.

SPEAKER_02 22:47

Yep. The average borrower holds about$300,000 in equity.

SPEAKER_03 22:52

The average. That's the average. Across the nation. That's amazing.

SPEAKER_02 22:55

That's average, man. Think about it. That's staggering wealth. It is. It's amazing. So I just what we just want to bring that up because you can use that equity to buy the next place, and there's ways that you can do it to time it that you're not going to really be paying that much more. Really. You can time, you can get an equity loan and you can use that to buy the next one cash if you know if they all these numbers work out. Sure. And then you get your current home on the market and everything goes together one shot and boom, done.

SPEAKER_03 23:22

And you can also do that same thing with your investments.

SPEAKER_02 23:24

You can do with your investments.

SPEAKER_03 23:25

We know a lot of people that will do IRAs. They'll do 401k. They'll take money from their investments and they'll use that to per to be a cash buyer to get the house they want. And then when they move in, they mortgage out the house, they mortgage it out. They put the money back. You might have lost some money, but you got the house. Yeah, that's right. You know, you got the house. So Hugo, I got a question for you. You you've been now a homeowner for a couple years or whatever. Is there any advice you have to anybody looking to buy a house?

SPEAKER_00 23:54

No, just that just take it, take it, all the projects that have in mind. You want to get it all done as soon as you move in. Right.

SPEAKER_03 24:02

Right. Don't get too anxious.

SPEAKER_00 24:04

Yeah, that's my advice.

SPEAKER_03 24:05

Yeah, because it's once you're in, it's tough. It's and then there's all these projects you have listed, and you're like, oh man, when am I gonna get to that? When am I gonna get to that?

SPEAKER_00 24:14

That's right.

SPEAKER_03 24:15

That's funny. That's really funny.

SPEAKER_00 24:16

Play with your kids.

New Homeowner Advice And Wrap

SPEAKER_03 24:17

At least he didn't play with your kids. At least he didn't say, Yeah, get a better realtor. Yeah, I was I was a little nervous. I was a little nervous when I asked that question. And I was like, if he says that, that's not good for me. Not good for my business. But it's just not, you're not gonna get a better one than Brad. That's right. Thank you, Pete. Yeah. How much do I have to pay Pete now? I'll tell you what. It's$50 to Hugo,$50 to you. Jeez. I'll just take a mug. Oh, great. That sounds good. All right. Pete was back in the house after 60 days. He was here. He showed up. And he's coming back in another 60 days. That's about it. Thanks for joining us. We will see you every Thursday at 7 p.m. And uh we'll just hoping that you come back. All right, that's about it. See you later.