Rates, Reality, And The Right Move

Ready to stop guessing and start deciding? We dig into the real tradeoffs behind today’s mortgage rates, refinancing, and timing your next move, with guest expert Patrick Hunt from United Federal Credit Union. Together we unpack why 6% isn’t the villain it’s made out to be, how your first mortgage shapes what “normal” feels like, and when lowering a payment by $300 a month can secretly add nearly $90,000 in interest over time. It’s a candid, practical guide to navigating real estate with a clear head and a steady hand.

We start with perspective: a 50‑year look at mortgage rates that resets expectations and calms nerves. Then we get practical—what to consider before refinancing, how to weigh cash‑flow relief against total lifetime cost, and whether a HELOC or cash‑out refi might help you keep your home through a life transition. Patrick explains locking vs floating in simple terms and shares a useful timing window tied to market repricing and morning jobs reports, giving borrowers a small but real advantage when choosing their rate strategy.

From there we tackle the cost of waiting. When rates dip, demand surges and prices usually rise; when rates are higher, buyers often gain leverage. That push‑pull matters more than headlines. We lay out how lost appreciation, missed equity growth on your move‑up home, and months spent in a space that no longer fits can outweigh a tiny rate win. The takeaway is simple and empowering: if the home fits your life and the payment fits your budget, move forward with confidence—knowing you can always refinance if rates ease. And if the math says hold, that’s a win too. Our job is clarity, not pressure.

Want personal numbers, not noise? Reach out for a no‑obligation, confidential consultation. Subscribe, share this episode with someone who’s on the fence, and leave a quick review to help others find the show. Your next chapter deserves a clear plan—and a payment that lets you breathe.

Transcript

Welcome & Show Purpose

SPEAKER_01 0:00

Hello, friends. Thank you so much for being here. This is the George Real Estate Group podcast, which is a production of our live weekly radio shows hosted on multiple radio stations here in Hendersonville, North Carolina. The George Real Estate Group serves Western North Carolina and upstate South Carolina, and it is a privilege to share positive news about our local real estate market and community. Thanks so much for subscribing. And of course, if you have any real estate questions or if we can help you in any way, be sure to reach out. Visit us at George Real Estate Group Radio.com for more information. Good morning and welcome to the George Real Estate Group Live Radio Broadcast here on WHKP every Thursday morning, bring you positive news about your local real estate market and community. We're so grateful to be here. We have a lot to discuss this morning, and we'll jump into the conversation about the local real estate market. I might even bring up some books I've been reading. We'll just and then I have a special guest, which I'll introduce to you here in just a second, one of our regular special guests, which we're so grateful to have him join us this morning. And if you're tuning in for the first time ever, I gotta say welcome. Thank you so much for being here. We are here every Thursday morning after the 10 o'clock uh news hour. I've actually been doing this radio program since 2011. I've actually had my real estate license since 2005. So 20 plus years in the real estate industry with my North Carolina brokers license. We've had the privilege and honor of helping over 1,600 families throughout the years. We have an incredible team, we have incredible staff, but more importantly, we have incredible clients and customers that we work with, that a lot of our clients and customers end up becoming friends. And so we have a lot of friends in the community, which we're so thankful for. You can find us online at realestatebygreg.com. Realestatebygreg.com. You can actually just Google George Real Estate Group on Google. You can see all of our reviews. We're also on Facebook and Instagram. We also podcast all of our radio shows. You can find that on your favorite podcast platform. We do a number of radio shows. And in fact, not only in addition to the Thursday morning show, which we've been doing since 2011. And by the way, you might remember real estate in 2011 was a very challenging real estate industry, but my tagline was positive news about the real estate market, which we again continue to focus on. And also in regards to focusing on the positive, every Friday morning we sponsor the Hometown Hero Series, which is more positive news. We have incredible men and women that come to our show every Friday morning at 8:45, the Hometown Hero Series. And tomorrow morning, we're going to be speaking with Chris, who continues to help with the hurricane relief effort here in Henderson County. Blessings and boxes, provide groceries and toiletries to those in need, providing transportation to individuals who've lost their vehicles or are facing health challenges, continuing to collaborate on repair and homes, air conditioners, assisting people to find campers and tiny homes. Also, they deliver, they all they all always deliver a comforting hug too. Tomorrow morning, 845 or Hometown Hero Series. Tune in tomorrow morning for that. And of course, if you know somebody that you'd like to nominate for honor and shine a light on, uh those unsung heroes, please do that. Reach out to WHKP. We'd love to connect. And then ultimately, you can call us directly at 828-393-0134. 828-393-0134. We'd love to connect. And if you're thinking of buying, selling, or investing in real estate, or even a career in real estate, also if you're thinking through your estates, thinking through your investment properties, there's so many scenarios. Um, we'd love to connect with you. Call us directly. I'm so grateful to have with us uh Patrick Hunt with United Federal Credit Union. Uh good morning, Patrick, and thank you, and welcome to the radio show.

SPEAKER_02 3:52

Thank you, Noah. Good morning, good morning. Um, thanks for having me. You've got quite uh accolades uh you list off there. So uh, you know, I guess what I took from it all is you've done this before.

SPEAKER_01 4:04

We've done this a few my joke that I it's like it's the joke gets old, right? But uh my joke is I'm an overnight success that's taking 20 years of showing up every day. You usually get a chuckle out of that, but I mean you just keep showing up, keep working hard, and and yeah, I mean it's been a I mean wild and wonderful journey and honor to to help our community through with in regards to real estate. It's you know, as you know, real estate's one of the most well, it's first off, it's the largest financial transaction most people will do in their lifetime, but not to mention the financial side, I mean that's just one piece of it, but the the psychological, the emotional side, the physical side of you know, the what a home means, and and you're pivotal in that process too. Um, you know, at United Federal Credit Union. Um yeah, and I have to acknowledge because you and I have a lot to talk about this morning. I think the last time you were here, um, your new branch was in the process of opening, and and you guys, your your your your bank, your credit union, not bank, your credit union was directly impacted. Your office was next to the fresh market and experienced the flooding.

SPEAKER_02 5:15

Um yeah, we went up the up the street a little bit uh to 855 Spartanburg Highway. So right next to the co-op. Right next to the co-op, a little uh higher elevation. And hopefully that won't happen again. Yeah, there used to be it's the old, there used to be a self-help uh a while back there, and um we went in there and remodeled and revamped and uh got a fresh fresh new space. So if uh anybody hasn't come you know to check us out yet, and uh please do stop in.

SPEAKER_01 5:44

It's a beautiful uh new space, so congratulations on that. You guys had again I think it's you last time you're on the radio that you guys were either just opening or having the grand opening and you're getting settled, you're settled in now.

SPEAKER_02 5:56

We are all settled in.

SPEAKER_01 5:57

Um your tellers are awesome.

SPEAKER_02 5:59

You got great people. The clients help uh keep things light. So, you know, I seeing you in there and um, you know, uh yeah, it's just a great environment. We've got uh some great staff that are are just happy to be there. It's the type of environment where you walk in and uh you know you you uh you just feel the the peace and the um you know it's got a really good spirit in that branch when you walk in. So I'm grateful for everybody that's there that it helps bring that.

SPEAKER_01 6:25

It's awesome. So Patrick, you've been doing this for a number of years, and I mean you are again, you're a pivotal role uh like real estate brokers in making people's dreams come through in regards to their real estate, and you know, whether it's a personal or an investment or a secondary home or even a refi.

Refinancing To Regain Cash Flow

SPEAKER_02 6:46

All of it, yeah. We're getting into that that you know space where we're seeing rates come down, um, to where it's advantageous for people to, you know, might have purchased in the last few years to to look at doing a refinance to to lower the rates, or you know, I mean we're we're in a time right now where we're our our nation is has really incurred a lot of debt over the last, you know, not just from a from a you know national standpoint and a government standpoint, but like personal debt. You know, it's it's it's it's tough right now for a lot of people to to make ends meet and people you know sometimes reach out to to vessels uh such as you know their credit cards and personal loans to to get through life events, and then you know you have this payment on that that is you know hard to hard to maintain month to month to month. And um, you know, fortunately now with with rates you know coming coming down to a more attractive level, it can make sense for people to reposition a lot of those debts that they've incurred into doing a a refinance on their on their home so they can have that manageable monthly payment and and breathe again, you know, and still have equity because you know property values, as you know, as you know, continue to to appreciate. So um, you know, it's it's it's good. We're having a lot of good conversations on uh on giving giving back some financial freedom to some folks that have been, you know, kind of muffled by uh a lot of you know uh personal personal debt and life events that have happened and challenges that people face and that you know one way is to to refinance some of the ways is maybe an equity line in your home.

SPEAKER_01 8:21

Uh there's I mean again so many options.

SPEAKER_02 8:24

So many options, and and fortunately we we have the majority of all those tools, you know, available, you know, under one roof. You know, when you come in as the credit union, you know, we've got we've got the equity lines, we've got the mortgage refines, we've got, you know, um second homes, investment property options, we've got a commercial team. It's nice, it's all under one umbrella.

SPEAKER_01 8:45

The other thing that I love about you and your organization is the relationship and the and the coaching and the and again if it's not right or if it's not a good fit, or you know, that's a thing I think that honestly is the probably the most uh I mean the guess what you can go get a mortgage anywhere, but there's differences.

The $300 Payment Vs $90,000 Interest

SPEAKER_02 9:04

Yeah, are they gonna are they gonna have the real conversations with you? And um, and it's it's you know, you mentioned that one of the most satisfying, rewarding conversations I've had in in a while um was last week. I had a gentleman come in who set an appointment up to come talk to me about doing a refinance to on his mortgage, and he had also set up uh a second mortgage um you know in the last five or six years. So he's got two payments going. Um interest rates weren't terrible, um, but he was like, you know, what what can I do? It doesn't make sense to do this, and we did a little breathing room. Ran, you know, the scenarios and and look, we sat down, we're together for about an hour and a half, and uh and it didn't make sense. He the even hid the I I told him, I said, we can we can lower your payment if you're in a position where the payment is the issue, right, and you just want a little more financial freedom on your your monthly cash flow, we can lower your payment by about three hundred dollars a month. But because of how far along he was already in his current mortgage and how little of time he had left on the second mortgage, we looked at and and I pull up and I calculate here's your interest rate, here's how much time you have left on those two mortgages, how much are you gonna pay in interest for the remainder of those two loans, right? How much are you gonna continue from this day forward to pay you know the lender in interest? And we looked at it, and the difference from if he did a new mortgage to refinance those two debts, he was able to save you know about three hundred dollars a month. However, however, he was gonna pay, I think the number was almost like$90,000 more by restarting the ticker on these and doing a 30-year-old.

SPEAKER_01 10:48

So on paper, he's like, Oh, I'm saving three hundred dollars a month. However, ninety thousand dollars more in interest over the life of the loan.

SPEAKER_02 10:56

Over restarting that for another thirty. And he was like I said, it was one of those it's weird when somebody tells you one of the most satisfying conversations I had was it was not getting a deal or doing business with somebody, but he felt so good knowing that hey, I'm gonna I'm gonna stick with the plan stick with it. The three hundred dollars extra, you know, isn't isn't killing me. I'm okay right now. And to know that I'm making, you know, a really good financial decision by doing that and not refinancing and getting a little short-term relief, like it was huge. And and I could tell he was just super appreciative. And that's one of those cases where no offense to to any other, you know, larger mortgage companies um, you know, that are out there, these online, um, you know, low overhead companies, but oh, you're not gonna have a lot of the time that in-depth conversation. You're gonna have somebody that reaches out to you and says, Oh, yeah, we can lower your payment by$300 a month. This is your current payments, this is what they'd be. Sound good? Sounds good. All right, let's go. And then they move forward with it and they they feel good about it, but they don't know the whole picture behind it. Um and I can get myself in trouble sometimes with getting into the weeds with people because I try to over I give as much information as possible so they can make the right decisions for them and their families. And it can be a lot sometimes, and um, you know, I I try to do it in the most layman terms possible.

SPEAKER_01 12:23

Well, and that's the point, you and I as advocates and fiduciaries for our clients and really laying it all out there, providing the information so they can make a decision for what's right for them. And we we had a similar situation. Somebody was thinking about their existing home. They weren't they were thinking, oh, we'd like something different that maybe they might meet their needs better, and then and we went even looked at houses and shopped for houses. But you know what's amazing? They said because of the exercise of looking at other houses that they thought would have would be better for their family, and then when they did the analysis with the money and you know, what would they sell their house for, what they could buy, something that met their needs. It was so interesting. They they were so grateful. They said, if we hadn't gone through that exercise, we wouldn't have been able to make the know with peace that this was we needed to actually stay where we were in our home. We didn't sell, we didn't buy, and they were to your point, they were so grateful for that exercise. And again, you get clients for life that way, even though they didn't, even though they didn't.

Fiduciary Mindset Over Making A Sale

SPEAKER_02 13:24

Um and and I can speak to that uh you know, just recently with one of your agents. This is and again, this is this is why I love aligning with you guys. You have similar more you have similar morals and values. Um one of your agents went to a listing appointment, and the listing appointment that that person that they were meeting with was going through a life change. They were going through a a a divorce or separation. Um and they were meeting with your agent to talk about listing the house so they could, you know, divide the equity. And upon discovering, you know, and having an in-depth conversation, um your agent, you know, discovered that this person's goal was not to sell this house if they didn't have to. This is kind of just the only option they knew existed from what they've talked to with the attorney, and that this is you know, we needed to pay these funds out, you know, um, to their their ex-spouse. And what your agent did is they they said, hang on a second. So your goal is to try to keep this house. Okay, let me get Patrick on the phone, let me see if he's available. And this was this was Tuesday, um and called me or sent me a text message, hey, are you available? Called them right away. They were still meeting and together, and we had a conversation on how is it possible with where your current income is, everything that's going on, to potentially do a cash out refi to pay out, you know, the spouse and be able to then stay in the house. Stay in the house. And um, and yeah, it's it's looking good. Uh isn't that amazing? That's you know, yeah, she's not gonna have to to sell and move or rent or do whatever, you know, um that she's been thinking was the only option. Yes. And and what I say on that to say it it speaks to your your agent's character because they they could have just went on a happy. Yep, no problem, we'll help you through this, but they're like, what's what's the best thing for for this person sitting across the table from me right now? That's right. And it doesn't lead to any type of sale or commission or anything at all for that agent. Um, but they did the right thing for the person that they were meeting with. Yeah, I was it just again, that's why I love working with you guys.

SPEAKER_01 15:50

Well, we're so great. We feel the same way about you. And again, for doing what's best for the client, providing information, walking alongside of them, and and to your point, sometimes that doesn't mean there's a sale, doesn't mean there's a loan given. It's just guiding and and advising and and being a fiduciary.

Mortgage Rates In Historical Context

SPEAKER_02 16:07

Doing our part. It feels good, it does. It's crazy. And I literally I can say with with full honesty that that that interaction I had with my client where I told him, now's not the not it doesn't make sense for you to do this. Pay this stuff off, you know, in the in the uh pattern that you're doing it. And and he was well like, ah, great, okay. I'm gonna, I'm gonna, I'm not gonna refi. It doesn't make sense. And I'm like, I know.

What Feels “Normal” Depends On Memory

SPEAKER_01 16:32

That's but that's amazing. It's awesome. Again, it's the the the again, these are great stories to share with our clients because it's it's ultimately helping uh in our for our listeners. I hope this also is just again, we're here to provide no pressure, no cost, no obligation. I say this all the time no no obligation, confidential consultation. I mean, we have these consultations all the time, and maybe it leads to you doing something, maybe it doesn't, but this is where we can provide that clarity, you know, for our for our customers. And then again, these are real life situations that you and I have. I mean, every single week we're talking to clients and and and guiding them and and navigating. And and again, it's it's very rewarding. I mean, it it's it's it's very enjoyable. And again, I I I love it. Here, let's uh you mentioned something at the beginning um in regards to the mortgage rates coming down a little bit. I think this is so important to provide some clarity to our listeners, and this is all about perspective, but the 50-year mortgage average rate, the average mortgage rate over the last 50 years, the truth is it's really a six percent average if you look over the last 40 to 50 years in the United States, and these rates have been dipping into the fives recently. And and let's put some things again, continue to give some context. In the 70s, mortgage rates were in the 7 to 8 percent range. We all remember, well, if you were alive, we all remember the 80s or at least hearing your parents talk about it. I wasn't buying a house in the 80s, but I remember, I still hear my father saying, if we got down into single digits, we were thrilled because interest rates in the surged into the mid-teens, and then the 30-year fix peaked out around 18% in 1981. Talk about, and this was again to this was the feds. They were to they were really working to fight inflation, they were uh tightening aggressively, and then again, that's the the they were fighting the inflation but with the the the feds you know increasing the interest rates. And then as inflation cooled, mortgage rates generally trended down, often living in the seven to ten percent range in the mid-80s to the nineteen nineties. I mean, I mean, talk about perspective, right? And then in the early 2000s, we saw in that you know, six percent, seven percent territory, and then the financial crisis drove the broader interest rates down, and this is where we all got spoiled. This is I don't know if we'll ever see this again. No one can ever predict what would happen, what will happen, right? No one ever saw this coming either even either. Mortgage rates actually got down into the three to five percent range in the 2010s, and then the his historical lows in 2020 to 2021, the 30-year fix hit a record in the mid 2% at the low end, and then actually Freddie uh Mac reported 2.65 in early 2021. That's hard. It's again, what a time to be alive. But again, with the the route the high inflation and then the feds doing again what they do to try to manage inflation, right? Went above the 7% range. And you and I've been living through this and experiencing this, and then our clients. Um, and so here's this thing perspective, you know, when you're in the high fives, you're actually below the historical average for mortgages.

Locking Vs Floating Explained

SPEAKER_02 20:13

Yeah, you're on the right side of it. Um and and yeah, uh, I was I was at a breakfast earlier this week where there was an economist speaking and he gave the statistics. Yeah, uh, since 1990, uh the average you know rate is was he he gave was 6.3. So we are less than that. So we are right now currently below the average, you know, uh uh 30-year fixed rate mortgage rate over the last you know 30 uh six years, you know, and from the data he gave. And there's there's this hope and this um that things are gonna keep dropping, dropping, dropping. And I I think we're gonna continue over the next six to twelve months. We might see the rates drop a little bit more. Um, but there's a lot that goes into those decisions. Um and from you know, some of the data that's that's reporting, like with you know, unemployment rates are are at all-time lows. Um you know, that's a big key factor in in decisioning on on that. Um the other one is the inflation, you know, uh rate. And they're not in such positions where from how they historically make those decisions to say, oh yeah, let's keep dropping it.

SPEAKER_01 21:30

Um, you know, and well, and they're gonna do what they're gonna do. I I think this I think a lot of this, and they're gonna, you know, the the interest rates are uh is a function of uh inflation, the the bond yields, the mortgage spreads. I mean, there's the this is where interest rates, there's so many components to this, but I want to talk about the psychological piece of this, and this is I think the the number one point is. What feels normal depends on when you bought your first house. If you bought in the 1980s, early 80s, 10 to 15% felt normal. In 2000, sorry, two uh 1995 to 05, 6 to 8 percent felt normal. And then 2012 to 2021, three to four percent felt normal. And that's why today's rates feel shocking to some people, but reasonable to others. And so it's the this is I this is uh this is a quote. Our definition of quote high or low mortgage rates is actually mostly a memory problem.

Timing The Market Is A Myth

SPEAKER_02 22:47

Yeah, it's it's true, or an experience issue, you know. You didn't experience that. Um and and it's funny you say that because it's so true. Like I I I if if we decide to float a rate with somebody, you know, the the member decides to to float, you know, the goal. Can you explain that actually? So yeah, so so float versus locking your rate. When you have, when you're under contract, you've got your property address, we're we're got our closing date, and now we've got say, you know, 30 days to to closing date, you have a decision to either lock that day's pricing, that day's rate, or you can potentially float it, where you are gonna hope that the rates go down over the next 30 days. Now you run the risk of if rates go up, you are gonna, you know, have the higher rate. Um so floating uh is one of those where we then we watch you know the market every single day. I'm watching these things every day. My my borrowers that are floating, I'm checking every day to see if it's advantageous for them to lock and and updating them on rates. Um so that this is what it means when you float. You have the option to wait between now and typically a week before we close, because but by the time we have final review under right approval, we need to have locked rate. Um so we've got this this window of where we can kind of roll the dice and and you know hope that we see a little bit lower.

SPEAKER_01 24:12

That's a bit of a I bet that that's an interesting dynamic of of your job, right? That that piece of the puzzle?

SPEAKER_02 24:19

It is. The cool part is the way we do it at the the credit union and and our ability, so we reprice our loans once a day at 10 a.m. Um so I can watch what the market does throughout the day to have an idea of what we are gonna be repricing the next day at 10 a.m. Um so it creates this really great opportunity for me to be able to review towards the end of the day, hey, where are we at? I think you know, let's let's wait another day, let's see, it looks like things are gonna lower, um, you know, or stay the same, whatever it may be. But the other nice uh big factor in you know interest rates is the jobs reporting things, you know, reporting that comes out typically early in the morning. Um those reports typically come out at 8 30. Well, I have the ability to lock a rate up until 9 a.m. on the previous day's rate. So I have the ability to look and see data that's gonna be. That feels like a little bit of a hack. Well, it is, and it's a beautiful one that is that is really in favor of the borrower. Um, you know. And uh that's amazing. You know, it's one of those where it's my policy is probably gonna change after this conversation on the air. But uh right, you know, as of now, it creates this really great space where people can wait and see what these reports are gonna do. And still I have the third window to submit a lock on yesterday's pricing. If jobs report comes in, you know, strong, um, you know, you know, rates may tick up a quarter point, you know, today at 10 when we release them. And anticipating that, hey, let's go ahead and lock in on yesterday's stuff. Um here's the thing locking versus floating.

Cost Of Waiting And Lost Equity

SPEAKER_01 25:58

Well, the locking versus floating, which is so helpful for people to hear, and I know we're getting into the weeds a little bit, but this is that actually brings up the point. It's okay. The interest rates, guess what? You know, you can refinance later. You know, things don't usually last forever, the highs or the lows, right? So I mean, like, at some point you just make a decision, you lock in, and you move ahead with your life.

SPEAKER_02 26:23

And exactly, and it's one of those where you can't you can't get mad at yourself or it's no one's faulty blender if you didn't, if you chose to float it and it went up a little bit. Here's how I usually try to to drive it home in a matter of perspective is it is like trying, say you're gonna buy Coca-Cola stock. It is like trying to time your purchase at the absolute lowest dip and hope the next day that it comes back up. Yeah, and it doesn't continue to be on that dip. It's it's near impossible.

SPEAKER_01 26:56

We actually talk about talk we actually talk about this in regards to the housing market, and and here this will make sense. This is true of stocks or interest rates or even the housing market. There's always cycles, right? You got you but here's the the truth. You never know when the top is until things start going down, right? And you never know when the bottom is until until things start going up. So you'll never no one can ever time the top or the bottom because you don't know until after the fact.

unknown 27:24

Right.

Payment Matters More Than Rate

SPEAKER_01 27:24

Here's the thing I think though that's important. Again, again, buyers can refinance. They things also don't last forever. This is just the reality is it's just it is what it is. And if you can afford it, if you can qualify for it, and and it meets the it all fits in within your life and your budget and all those pieces, right? You just move ahead. This is where it's again, it's this I think the challenge it has been is the it's the rates that don't kill housing, it's the uncertainty, right? It's the you know, it's it's the it's the rapid spikes up or the spikes down, it's the policy whiplash, it's all those things that that come into play. And again, it feels like over the last I mean there's been a steady more consistency, the sh the shifts, the changes within the rates haven't this is sort of the new norm we're adjusting to, and again, it's relative to what we've experienced before. Yeah, absolutely. So I think there's been some consistency with these a gradual stabilization of these rates.

SPEAKER_02 28:29

Yeah, and I think um I think that that people are starting to receive that, and and I hope I hope that there's not a lot of people that are still on on the sideline side that is saying I'm waiting for rates to drop, I'm waiting for this, you know, because I mean you're you there there's you're losing out on potential equity gains. Um the other thing, you know, is when you hang on to that low rate interest rate uh mortgage on your current primary home, say that primary home and you're delaying is is worth you know three hundred thousand dollars and you're waiting to upgrade to the the five hundred thousand dollar house or whatever number it is, you you're delaying also your equity growth because right now you're growing equity on three hundred instead of growing equity on five hundred as you know time goes on and things appreciate. So it's there's a lot of variables people um don't know until they're they're it's explained to them. And grateful for people like you and myself that take the time to do that.

How To Get Personalized Guidance

SPEAKER_01 29:32

And of course it makes sense people are wanting the best rate and they're wanting the best price, and no one wants to buy you know at the wrong time. Of of course. I mean, like that's uh huh nature. I mean, you can't can't you can't blame for people for feeling that way, but this is something to put to perspective. When rates drop, usually buyers demand increases, so you have more competition, more buyers means typically the price pressure goes up, and then when prices soften, rates are often high higher. So the tricky part is lower rates usually bring higher prices, and then the higher rates are when what bring negotiating power. So again, all these again, there's so many components to this. But you know, the waiting, like you said, the cost of waiting can be expensive. The missed appreciation, the the lost equity. I mean, there's a cost of waiting.

SPEAKER_02 30:32

There is and you can and there's the value of you know what w how what is the value of of that bigger yard, that extra bedroom, things like that that if you're putting off, you know, could you be enjoying that now at this extra, you know, cost and and maybe even refined, you know, in a short term to get it lower. But what is that worth? You know, and for a lot of folks when you put it on paper, and that's the thing. Come chat with me. Let's put it on paper so you can see it and then make your decision, you know. And then a lot of the times, you know, it it it's well and this is where it's the payment matters more than the rate. Right. For most people the payment um is is a big deal. And if you can show that you can have the the quality of life that you're looking for, um and the payment is within within means and you're not, you know, gonna be uh House poor house poor where you know, yeah, you've got a great house to eat dinner at, but you can't that's a good thing because you can't go eat dinner any place else, you know. Um but you know that's not if we do run numbers and that's what that looks like, then you know, let's pivot. Yeah. Um but uh you know, let's let's just talk.

SPEAKER_01 31:43

Here's the thing. Again, it's it's it's getting clarity, it's it's talking to our team, it's talking to Patrick, it's getting information, whatever it is. Again, your personal home, your investment property, your your family's property. I mean, whatever the situation. Again, this is where we are resources for our customers and for our community. And I think, again, I hope you if you're listening this morning, well, uh thank you for being here. And I hope this has been educational and helpful. I mean, again, it's it's a conversation.

SPEAKER_02 32:12

Yep, that's it.

Open Houses And Local Listings

SPEAKER_01 32:13

That we have every single day with our clients. And and Patrick, grateful to have you here on the radio. Um, grateful to have you and your team help our clients, and we're so thankful. What's the best way for listeners to get hold of you?

SPEAKER_02 32:26

Yes, uh, best way to get hold of me is uh is a phone call or an email or a text. Phone call or text uh 828-707-1556. Never know where I'm gonna be. Uh, I got two branches I cover in Hendersonville, and I'm at your office uh, you know, one day a week. So call, text, and we'll set up an appointment.

Closing Message & Contact Info

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SPEAKER_01 32:44

We'll connect again. Patrick, so thankful uh for the conversation. Thank you for everything you do for our clients. And it was funny. We talked about helping clients not buy or refinance, which is that's a that's again, that's the that's part of the it is, it is the job is the is so that our clients can make the decision for what's best for them, regardless of the economy, regardless of the interest rates that you know, and I say this all the time life happens, therefore real estate happens. And and that that's where we've had the privilege of helping our clients navigate through through life. Again, real estate is a direct uh piece of that. Sure is. Patrick, thank you so much for being here. Um, and to our listeners, we're so grateful that you spend time with us. We're here every Thursday, right after the 10 o'clock news. We're here every Friday morning at 8 45 for the Hometown Hero Series. Tune in tomorrow morning. I have to take a moment, though, and share about uh we have some open houses this weekend. You can find that on your on our social media. We have an open house in Carriage Park, uh, and that's gonna be this Sunday, 2 to 4. You can find that on our our Facebook page. We also have an incredible office for sale uh on Asheville Highway, uh, right near the Baker's box. We have an awesome uh uh commercial office for sale there that I and Gail Satz has it listed on our team. Encourage you to check that out. That's an it's a it's a great property um on Asheville Highway that you can check out. It's 1612 Asheville Highway Suite 4. We actually just sold the office next door. This is a great office condo. 1612 Asheville Highway Suite 4. Has a very aggressive price at$199. Uh it's it also is turnkey, uh move-in ready, um, great parking, great space, fully renovated, um, fresh paint, new HVAC system. And again, it's an awesome property. Um, and and um has uh in and there's some items that can help you fully furnish. It's truly turnkey. Some of the new furnishings are included. Again, 1612 Asheville Highway Suite 4. That's just one of the many samplings of the inventory and listings that we have. Um, you can find it on our website, realastatebygreg.com. You can also follow us on Facebook and Instagram to see those uh properties that we have for sale and upcoming open houses. But again, encourage you to check out our inventory and encourage you to check out this awesome office for sale uh that we have listed. Again, we work with residential, commercial, land, uh development. Uh again, however, we can help you. 1031 Exchanges, again, the whole gamut. We're here every Thursday morning. Thank you so much for tuning in. Grateful that that Patrick joined us in the tomorrow morning at 845, the Hometown Hero series. And again, for all your real estate needs, give us a call, 828-393-0134. Find us online, follow us on social media. We podcast all of our radio shows. Uh, and again, what a great time of year. Thankful uh to be here. Have a great day. Have a great rest of your week, and we'll see you tomorrow morning. Maybe the house feels a little too big these days. The stairs, a little steeper, the pace of life, a little too fast. But what if your next move wasn't about letting go? It was about making space for peace, for freedom, for what matters the most. At the George Real Estate Group, we understand that real estate isn't just about the house. It's about transition, timing, and trust. We help thousands of families in West North Carolina to make smart moves. Closer to nature, closer to family, closer to home. So when you're ready to write a size, simplify, or start fresh, we'll be here. The George Real Estate Group. Local, trusted, proven. Call us today, 828-393-0134. Find us online at realestatebygreg.com because your next chapter deserves to feel just right.

SPEAKER_00 36:56

Thank you for listening to the George Real Estate Group Podcast. Tune in next time for more industry news, updates, and real estate tips. You can reach Greg, the George Real Estate Group, at 828-393 0134 or at realestatebygreg.com.