Benchmark Happenings
Brought to you by, Jonathan Tipton & Steve Reed of Benchmark Home Loans, Benchmark Happenings is a podcast that is a biweekly discussion about living in and moving to Northeast Tennessee along with the local real estate market. Join your host Christine Reed as she interviews Jonathan & Steve, local business owners, sought-after industry experts, Veterans, Realtors, Benchmark clients, and more.
Benchmark Happenings focuses on discussing all things related to mortgages and Northeast Tennessee. Placing the spotlight on all the reasons you would want to live in and move to Northeast Tennessee, Benchmark Happenings highlights upcoming events, local businesses, things to do, and other aspects related to Northeast Tennessee. We will also be answering mortgage questions from buyers, sellers, and real estate agents as well as discussing everything going on in our local real estate market.
To help you to navigate the home buying and mortgage process, Jonathan & Steve are currently licensed in Tennessee, Florida, Georgia, South Carolina, and Virginia, contact us today at 423-491-5405 or visit www.tiptonreedteam.com.
Benchmark Home Loans | NMLS # 2143
4138 Bristol Highway
Johnson City, TN 37601
Jonathan Tipton
Senior Mortgage Planner
NMLS # 1188088
jonathan.tipton@benchmark.us
Steve Reed
Branch Manager
NMLS # 173024
steve.reed@benchmark.us
Benchmark Happenings
Sam Taylor and Steve Reed on Building Trust and Lasting Relationships
Join us as Sam Taylor, visionary entrepreneur and owner of Property Experts, takes us on a journey from his beginnings at Cheers Restaurant to his successful transition into the tech world and finally, to his thriving career in real estate. Alongside Steve Reed of Benchmark Home Loans, Sam shares invaluable insights into how adaptability and innovation have been key to his success. Together, we navigate the challenges faced by smaller businesses when big corporations take the helm and the critical role that strong partnerships play in the real estate and lending sectors.
Get ready to uncover the essence of building trust and nurturing relationships in real estate. Our conversation underscores the profound impact personal interactions can have, as we move beyond impersonal communication to forge connections that matter. Sam and Steve share touching anecdotes on viewing clients as families, not just transactions, emphasizing the significant responsibility real estate professionals hold in guiding clients through major life decisions. With a focus on trust, service, and the emotional weight of the profession, this episode promises to leave you with a deeper understanding of the power of relationships in achieving real estate success.
To help you to navigate the home buying and mortgage process, Jonathan & Steve are currently licensed in Tennessee, Florida, Georgia, South Carolina, and Virginia, contact us today at 423-491-5405 or visit www.jonathanandsteve.com.
Thank you. Tons of great things to do and awesome local businesses and on this show you'll find out why people are dying to move to Northeast Tennessee and on the way, we'll have discussions about mortgages and we'll interview people in the real estate industry. It's what we do. This is Benchmark Happenings, brought to you by Benchmark Home Loans, and now your host, Christine Reed.
Speaker 3:Welcome back everybody to another episode of Benchmark Happenings. And you know we always have such a focus of the star of our show, and so, but we have two stars today, but one we particularly want to highlight is Mr Sam Taylor, owner and operator of one of the region's best real estate establishments, property Experts. So, sam, welcome.
Speaker 4:Thank you, Christine. It's an honor to be here with you and Steve.
Speaker 3:Well, it's an honor to have you here, and I know we've tried to get you here on this podcast for a long time. So today is the day.
Speaker 4:Well, thank you so much.
Speaker 3:We're excited. And then also we have Steve Reed with us, owner and operator of Benchmark Home Loans. So, steve, I'm so glad you were able to carve out some time to be with us today.
Speaker 2:Well, thanks for having me, and just to be able to see Sam sit still for 30 minutes is going to be a feat to witness. I don't think I've ever seen that before, but I think we've got him maybe handcuffed to the chair here for about 30 minutes unless there's food involved.
Speaker 4:Right right, right yeah, but that's still maybe I'll sit still for yeah yeah, but just to get sam corralled.
Speaker 2:He's a busy guy he is and uh so he, he's a mover and a shaker in this industry. So, uh, to have him in here and be able to sit and chat with him and just have a conversation and what success looks like to him, hey, it's, uh, I'm all about it, so I can't wait well, thank you both very much.
Speaker 3:I look forward to it and and you know I think a lot of it too is, um, you know, it's just the relationship that the two of you have that work, and we'll dive into that a little bit more because I think that's really interesting for our listeners to hear of how this works, with real estate and lender looking at that partnership. But, sam, I really want to thank you for sharing your bio with us. I was reading that and you have such a just a, an amazing career.
Speaker 4:It's obvious. It's been interesting, for sure.
Speaker 3:Well, you're a self starter, You're an entrepreneur and you really and truly embody what America really is of being your own business person. So tell us just a little bit about your career, your career path.
Speaker 4:Okay, Well, I started off in the restaurant business of all things.
Speaker 3:Cheers.
Speaker 4:Restaurant Okay.
Speaker 3:Remember Cheers.
Speaker 2:Yes, so Johnson City, fine establishment we love Cheers.
Speaker 4:Right Johnson City got liquor by the drink and Bennigan's had opened and they had a manager. I was there with my brother and two other guys and the manager at the time came by and he was bragging about how much money they were doing, how much business they were doing it was packed, yes, money they were doing.
Speaker 3:How much business they were doing.
Speaker 4:It was packed, yes, and we started talking as the nights went on. That business actually evolved on a beverage nap, okay. So the next day we were, like you know, we kind of laughed about it, and then it got serious and we were all broke. And then it got serious and we were all broke. So we started to invite other people to invest and it just grew from there and so we did that for about 12 years and we had an opportunity to sell it and, unfortunately, the company that did it, they changed our formula and it took them about 12 to 18 months and they were closed. So that was sad, because we really loved that.
Speaker 2:That's interesting to know. I never knew that's the way Cheers got started.
Speaker 4:Yeah, it did Wow.
Speaker 2:Just on a napkin and over a drink it did.
Speaker 3:And I've heard stories similar to this Sam of large companies and you meet with these owners and sometimes some of their greatest ideas. They were sitting around on a beverage napkin.
Speaker 4:It was.
Speaker 3:It was, it was crazy.
Speaker 2:Well, not only that. I've heard of a lot of these larger companies and I've experienced this too. The bank bought my company and ran it in the ground. Pretty much. It's like, when they get to this corporate mentality that they can't really. They're not as nimble as an entrepreneur like you that can make quick decisions, good decisions.
Speaker 3:Yes.
Speaker 2:That's for the best of the company. They'll run these companies in the ground. So you had what 12 to 18 months you said before it was closed. Amazing, after 12 years.
Speaker 4:Right, wow, right, so it was interesting. So towards the end of that there was a computer chain. It was called Computerland. Remember that.
Speaker 4:Okay, From years ago and um, I had a computer background in college and, um, I enjoyed it and so they asked me if they liked our marketing. It was just different and they wanted to get out of that stuffiness. So they started doing that part-time and then it grew to full-time after we sold chairs and that was a great springboard going forward for me. So I really enjoyed that and later on I opened up my own technical firm called Computer Connection and did that for 10 years. There's like a 10-year shelf life for me.
Speaker 3:I just have a lot of interest I guess.
Speaker 2:About every 10 to 12 years. It's time to refresh, yeah.
Speaker 4:But I went to work for Bob Garrett and I managed. I was the sales manager for point 24 and Harmony Ridge and Kingsport and which is when you and I met it was here next door at point 24. So I met Steve, and oh seven, and oh seven, oh eight is when it all fell apart.
Speaker 3:It fell apart. Yeah, I remember.
Speaker 4:So I was just trying to eke out a living and so, by the grace of God, it really was. I had people that believed in me, and so we offered and to this day we still do real estate remodeling and interior design and put together a crew in 07 and 08. They were actually two of our best years and at that point, christine, to be honest with you, I was just trying to eke out a living.
Speaker 3:Sure At all, yeah At that point.
Speaker 4:Christine, to be honest with you, I was just trying to eke out a living Sure At all. Yeah, and the business grew and we eventually did a showroom. But to this, day that has been very helpful in our business being able to offer remodeling services. A lot of times clients will walk into a room or walk into a house and they just can't see it.
Speaker 3:Right.
Speaker 4:And if we make some changes to it, it allows them. So we have an interior designer on staff and she's incredible, and we've got a good group of people that do the construction, yeah, and so that's kind of that's the story of us and going on year well, since 07.
Speaker 2:Well, we know your beautiful wife Donna is the reason for your success. Oh, absolutely. I don't think it would be here if it's not for her.
Speaker 4:That's right. Oh yeah, talk about marrying up. And you too, buddy, I'm telling you, christine is phenomenal.
Speaker 2:What a great team y'all have got. I think we both married up.
Speaker 4:We certainly did. We certainly did no complaints and we love Donna, married 33 years.
Speaker 3:Congratulations.
Speaker 4:Thank you.
Speaker 3:Two beautiful daughters and your little granddaughter. What's her name?
Speaker 4:Her name's Eliana, and how old?
Speaker 3:is she now?
Speaker 4:So she just turned two. She's just really. You have no idea how much you have so much fun with grandkids until you have them, yes, I mean such a blessing.
Speaker 3:They're the apple of your eye. They sure are Right. Oh yeah, Girls.
Speaker 4:So I grew up with a bunch of guys. I do have a sister, but I had stepbrothers and a real brother. And so honestly I prayed for girls, and God gave me that.
Speaker 3:And I love the girls.
Speaker 4:And I well. Thank you very much. I'm very proud of them. I'm a true bad girls. I wanted that father daughter relationship, but I'm very proud of girls. You know I wanted that father-daughter relationship, but I'm very proud of both of them so much I prayed for boys.
Speaker 2:Sam, I prayed for boys and God gave me Brittany what he blessed you for sure he was going to get my attention. Yeah, and he continues to do that with Brittany.
Speaker 3:She's incredible, she's got such a great person.
Speaker 2:Both your daughters are beautiful and sweet girls. You guys have done a great job. It's all about family.
Speaker 3:It really is, and you truly are a family man. You and Donna and your relationship and you guys are truly all about family.
Speaker 4:That's your number one At the end of the day. That's what it's all about it really is.
Speaker 2:It is that's why we get up and do what we do, right it is. It is your family and your close friends.
Speaker 4:That kind of sums it all up right there. I really have enjoyed what I do.
Speaker 3:That's amazing.
Speaker 4:I love helping people and it's great. It's very rewarding.
Speaker 3:Yeah. So, sam, what are a few of your goals or must, like non-negotiables ways that you serve your clients every day? I mean, we just talked about how much you love what you do, and it's obvious.
Speaker 4:Oh thanks.
Speaker 3:You know they always say if you do what you love, you never work a day in your life.
Speaker 4:That's true.
Speaker 3:So what are some of those goals of how you serve your clients and the non-negotiables?
Speaker 4:Well, I want the experience to be as seamless and as stress-free as possible for the client.
Speaker 4:I mean buying a house. That's one of the largest purchases that a person can make and they've got to feel good about that, and so we get the anxiety of it. I had a realtor, a very successful realtor, and still is he made a comment to me saying all this is going to go online. Is he made a comment to me saying all this is going to go online, and argued with him then and I've seen him recently and I've mentioned that to him. There's no way. I mean the online, I'm certainly I'm sure you could do it, but your home, when you're selling your home or when you're looking for a home, I mean that's huge, so personal.
Speaker 4:It is personal and it's all that that comes with it, right?
Speaker 4:I mean, you get the client's anxiety, the stress and you really my job I try to relieve that stress as much as possible. My job I try to relieve that stress as much as possible. So, along the way, you want to make sure that, if at all possible, you can help them choose the right lender, the right home inspector. We make suggestions. We can't tell them what to do. We've had clients that have come in and they want to go through Rocket Mortgage or some online mortgage place.
Speaker 4:And I've been down that road. So actually I won't do that now because it just never turns out good At any given time. For instance, christine, I can call into this office and ask what the status is of a mortgage process.
Speaker 3:That's valuable.
Speaker 2:He's even gotten me on the phone a couple of times.
Speaker 4:Well, I've got to tell you. I've got to tell you. On Saturdays, sundays at nighttime, I've picked up the phone. You know, I'm sure you're probably having dinner or you're on the lake and Steve always picks up the phone. And Jonathan, and Jonathan, what a great guy he is too. I mean he really smart as a whip.
Speaker 1:Yes, very nice guy.
Speaker 3:Yeah, yeah, we're proud of jonathan. Yeah, absolutely, he's done a great job, and but thank you for saying that oh, my goodness, I mean proud of the team here.
Speaker 4:Yeah, it's, it's phenomenal and it starts from the top.
Speaker 3:It's you know, yeah, you feel it. It's all from the, the and it definitely trickles down Well it's a God thing.
Speaker 4:It really is. It really is, and so if you put people in place that have got common beliefs, that you do and values, then that's a good thing.
Speaker 3:And it works well.
Speaker 4:I mean you can't always make it that way, I mean people, but you know there are exceptions, but for the most part everybody here at benchmark does a really good job. Yeah, Communication is critical. Thank you, it really is.
Speaker 3:It is critical and it's extremely difficult these days. It is like more now than ever, but having that personal touch, being able to talk to some actual human actually on the phone versus a robot voice and pushing multiple numbers to get to something, and then you never really get an answer. It's very frustrating. And these larger companies nobody works after five o'clock, nobody does nobody on the weekend, um, and you know what, and being in real estate, that's.
Speaker 3:That's a big part of when you're busiest weekends, holidays, people want to come out and see homes absolutely you're.
Speaker 4:I sold a house not last year but the year before on Christmas Eve. Yeah, I mean, I've gotten up from Thanksgiving table after we had Thanksgiving and showed houses that day and I really wanted to go sleep on the couch after a big Thanksgiving dinner.
Speaker 3:I draw that turkey yeah that's turkey.
Speaker 2:One thing I'll say about that access. I don't grant that access to everybody. I mean there's very few people.
Speaker 2:I answer the phone for on the weekends, and that's only with close partners. Most in the real estate community cannot get me on the weekends, so I don't open that door to everybody. But if it's a trusted partner like Sam that we work together a lot, he's always looking out for me, I always look out for him and so he can always get me on the weekends. But like I don't even go advertise that even to new realtors, I'm trying to get their business. I'm like sure.
Speaker 3:So so that's something that well, you got to have a lot.
Speaker 2:Well, that's something that happens through a close partnership, like we're talking about today, is that develops over time and you develop that trust. And you know, sometimes when my phone's ringing, I'm thinking in my mind well, unless this is one of about three people, I'm not answering the phone. So you know, and Sam's one of those three people.
Speaker 4:Well, thank you, Steve.
Speaker 2:But I mean, that's just the way it works and to me that's what today we today we're talking about the benefits of working close in a partnership. And that's one of the biggest benefits is you're not hung out to dry. You can always get somebody. But now there's a lot of real estate agents and there's great agents that are successful doing this, but they want to pass business out all over town or they just go to whoever their clients already using.
Speaker 2:They don't try to work with a you know a trusted lender, and they don't ever build those kinds of partnerships, so I think they have a little bit more limited success by not doing that and uh you know I don't want to build that with everybody. I mean it's only people that share my core beliefs, people that I, you know, care about and want to have dinner with and hang out with, not just a business relationship. So that's kind of from a lender's standpoint. We don't answer the phone for just anybody on weekends.
Speaker 4:It's all about relationships. Exactly Everything's about relationships.
Speaker 2:It really is.
Speaker 4:It's the same thing. I've got an issue with people texting. I've got an issue with the with people texting. Texting, in my opinion was I mean a sentence or two, but sometimes you get like pages pick up the phone and call and you can't. You're hearing your voice, you're not hearing the client's voice or or whoever is texting you. So I mean, pick up the phone and and and find out what's going on. But that's an honor. I appreciate you saying that I do that, though.
Speaker 2:Like speaking of the texting, I'm glad you brought that up, because a lot of the maybe not even newer agents, but agents that I don't work with a lot they'll. They'll start texting me and I just do this to drive them crazy. But I'll pick up the phone and call them and I'll say, hey, I just got your text. It's easier to have an ear-to-ear conversation. Let's just talk this through and we can have a better conversation in three minutes. Yeah, a lot of times they do because they're probably thinking who the heck is this calling me?
Speaker 2:They don't realize it's the person they just texted. But we can talk something through in three minutes. It might have taken us, you know, 10 texts back and forth to get to the bottom of, so a lot of times a phone call really. It builds a relationship, uh and, and I want to do that, and it also saves time. A lot of times we think text is quicker but a lot of times it's really or multiple emails.
Speaker 4:if you see, I do the same.
Speaker 3:It's easier just to pick up the phone.
Speaker 4:I'm overwhelmed on emails I miss. I feel like I need to do a better job, but I'm out selling or with a client and you come back to your laptop or whatever and you've got 100 emails. I mean, it's easy to miss an email. It really is, it's just pick up the phone emails.
Speaker 3:I mean, it's easy to miss an email.
Speaker 4:It really is. It's just pick up the phone call. I'm going to go back to Steve. He's been very modest. Steve and Jonathan, I've never not called and one of them have not picked up. I mean, and that's phenomenal and what an incredible support staff you've got. Thank you.
Speaker 2:And same for you. I mean we love Pam, love working with her, and Donna, when we've worked with her, I mean you know your team over there at Property Experts.
Speaker 4:So Pam is my work wife.
Speaker 2:Yeah, and then I go home to a wife.
Speaker 3:Yeah, and you've got two daughters.
Speaker 4:I spend more time with Pam than I do.
Speaker 2:Yes, donna, I honestly do, yes, donna, I honestly do yeah, we need to hang out more as guys so we can just have the testosterone flowing.
Speaker 3:Well, that's fine, because so Pam Donna and I will go shopping. That retail therapy is what scares me. Maybe we don't need to hang out.
Speaker 2:We don't have any money.
Speaker 3:We'll let you hang out all you want guys.
Speaker 4:You guys go and have fun.
Speaker 3:So, steve, you sort of touched on this about you know Sam. What do you see that's different about Sam and the way he serves his clients?
Speaker 2:So there's a lot that I mean. Let's just talk about the top two or three and there's a big distinction. There's over 3,000 real estate agents in the Tri-Cities and I big distinction there's probably. There's over 3000 real estate agents in the tri cities and I can see that's unbelievable, to say that out loud, but I can see some distinctions with Sam, and I mean just personally.
Speaker 2:What I like the most that matches up really well with our values here and our core values and our beliefs, is that he cares about clients and and people sense that, so they trust him and so I love that. You know we don't we're not trying to pawn off a house on somebody or a loan on someone.
Speaker 2:It's always about what's their best interest, and so I love that I love Dylan from the position of of trust, and I've even told clients before if you don't trust me, then either ask me the questions and maybe you still won't trust me, or you probably need to go somewhere else, because it's not any fun to do business with clients who don't trust you because it is a huge transaction, so they have to trust us.
Speaker 4:I've never heard that. I've never had anybody say that.
Speaker 2:Yeah.
Speaker 4:Everything I've ever heard from clients has been extremely complimentary.
Speaker 2:Yeah, but we have had those clients, maybe not from you, well, not everybody's going to love you, right?
Speaker 4:Yeah, I mean, well, they love you.
Speaker 2:Christine, yeah, they may love her, but the other?
Speaker 4:thing, are you going to sing for us today?
Speaker 2:You want me to sing we can close it out instead of the commercial. So I call her Patsy because she sings a mean version of crazy.
Speaker 4:She does Phenomenal yeah.
Speaker 2:So one other thing I want to get in here before we move on, though, is about Sam and how he kind of distinguishes himself from other agencies.
Speaker 2:Just not only the trust, but he is a mover and a shaker. And when I say that, I mean that to the fullest degree. He does not wait on something to happen, he goes out there and makes it happen. So like when I've got clients that are looking for a house that I need to send someone to. You know, sam, the next thing you know they're under contract. I mean he will find a house. He knows who's going to sell their house six months from now. He knows who's going to sell it three months.
Speaker 2:A lot of these properties won't even be on the market. You know, when we sold our house, you know Sam called me before we even put it on the market and said, hey, you ever thought about selling your house? And I was like, well, I can't believe. You called and said that and so he ended up selling our house. And to me that's just huge. You know someone that goes out and makes it happen, don't wait on the market to come to them. So I love that. So I love the trust, I love the caring and I love the make it happen. I mean, how could you?
Speaker 4:get better than that. Thank you so much I mean it's all true.
Speaker 2:I mean it's from the heart and it's true.
Speaker 4:So very kind and what an honor it was to sell your parents' house Truly.
Speaker 3:Yeah.
Speaker 4:I mean, they're just fantastic folks.
Speaker 3:Yeah, yes, absolutely, and they love you too.
Speaker 4:Now your mom, now she can strike a bargain on, oh, now on everything that's where steve learned his negotiation skills. Absolutely, I'm telling you, she will listen yeah, she'll. Yeah, it's like a garage sale times 10 with her.
Speaker 3:She's incredible though you know what I'd love to see? I'd love to put her and scott landy together and see who could get the best deal. Absolutely I don't know who would win on that one.
Speaker 4:Yeah, I'll tell you how funny. You've got a wonderful family, steve, yes, at least.
Speaker 3:So, Sam, what do you love about your job?
Speaker 4:I love the people, christine, I really do.
Speaker 3:Yeah.
Speaker 4:It is so personal with me I you can't go through this experience and not get into the details of their life. I mean they have to share this stuff with you, some details, and I'm a caring person and, in order to serve them better, tell me what your needs are, what your future plans are. I mean some, just don't. I mean some people. They want to buy a house or a new home, not a house, a home and they're looking ahead. They may want to. That might be their age and place home. This might be a short term and they may want to move to the beach in a couple of years.
Speaker 3:Yeah.
Speaker 4:So all those type of things factor in. There may be, you know, ada compliances, they may have a handicapped child and we've got to look for properties like that. I mean, that's you know. But it's really wonderful when you can click with a client and I've had some incredible clients that are friends forever, you know. If they called, well, it's a high calling, it's really a high calling.
Speaker 2:I used to hear that a lot and I thought that sounded so cliche. And then I started really thinking about that and it is most folks' biggest investment. So they're putting out more money for this transaction than anything else. Not even like to call it a transaction, because I see them as families and we used to. We used to track loans how many loans do we close last month? Well, several years ago we stopped doing that. We say how many families did we serve?
Speaker 4:last month, absolutely.
Speaker 2:that's why it's all, and so it is a high calling. You've got a lot of power in your hands to, you know, steer someone in the wrong direction or the right direction, absolutely. So as I've gotten older I've taken it a lot more serious than when I was young and dumb. You know it was like I still wanted to help people but didn't realize the. You know the gravity of the situation.
Speaker 3:You know well the significance and the impact you make on that family and the impact they make on your life as well in that relationship.
Speaker 4:Just like you said, sam, and to go a little bit further. It blows my mind, christine, that people when they, when it's time to sell their house, they will say, oh, I'm giving it to a friend, a good friend, that just getting into the business, I mean you are putting your largest asset, or one of your largest assets for somebody that's unskilled I mean there's so much involved in it, the negotiations it's almost like saying you know, hey, my cousin over here.
Speaker 2:he's going to medical school, so I'm going to let him do this surgery because he needs the money, I mean it's scary. You know someone that has not nearly the knowledge or whatever. You should never select a lender or a real estate agent based on it's a family and I know there's certain pressures that come with that. But I would certainly interview them and find out, absolutely, absolutely.
Speaker 3:Yeah, and it's yeah, it's very important. So what are some of the challenges right now that you're seeing Sam in the real estate industry?
Speaker 4:That's a big question. I know that's a big question. I mean. What we're seeing is people are so nervous about the economy and the nation. We're at a critical point and I'm not going to go down a political path. It's a shame that you can't talk, that you know you can't have a discussion without people being upset. They're very. This is a very important time.
Speaker 3:It really is.
Speaker 4:In our country and you know they've announced down the road that there may be a rate cut and I think a lot of people are on the sidelines waiting for that. There's there's there's several things going on in the market right now.
Speaker 3:Yeah, it is challenging I know, steve, just in the mortgage industry, how challenging you know and we always go back to well, you survived 2008. You survived lots of ups and downs, but this market in particular is more difficult than 2008.
Speaker 2:Well, it's 40 years I've been doing it almost 40 years, so it's the toughest market I've ever seen, and people are nervous, like you say, sam, and they're afraid to make a decision. They're's the. It's the toughest market I've ever seen, and people are nervous, like you say, sam, and they're afraid to make a decision. They're on the fence. So the last thing they need to be doing is watching the news, because there's so much fake news out there.
Speaker 4:And the.
Speaker 2:New York times just came out with an article talking about how it was cheaper to rent than buy.
Speaker 2:And they had all the numbers and they compared buying like a $500,000 house to $2,200 a month in New York. Well, where can you even find anything for $2,200 a month in New York? And they didn't even put anything about rates going up over the years. They left out so much in this article. They were $130,000 off the wrong way. They said it was like $120,000 cheaper to rent over a 10-year period. It was actually $130,000 cheaper to buy over a five-year period. So, doing this every day, I know the numbers to put into a calculator right, and they were so blatantly off. So that is a huge. I'm glad you brought that up, because that's a huge challenge is when our clients hear this.
Speaker 2:We have to be the voice of reason and be, able to give them factual information to, to the you know kind of debunk some of these articles. I started to say rumors. It's not even a rumor, it was a newspaper article in the New York times, the largest newspaper in the Us. So that is a huge challenge. That people are scared anyway, so they don't need much to keep them on the fence right, so keep them paralyzed from doing nothing. So when they see stuff like this, uh, it makes their job a challenge.
Speaker 4:So 7% interest rate, yes, it's higher than what it was several years ago when it was three, and that's an issue that a lot of sellers have. They don't want to get out of a low interest.
Speaker 3:But I remember my first house it was 16% interest.
Speaker 4:I mean you got to put it in the thing about real estate you're going to have interest rates that come up and down, but consistently. As an investment, real estate is by far better and safer than any other investment that you can make. So if you choose the right lender, the right agent, the right location, years down the road you know you can turn around and sell it and make a lot of money. It just blows my mind what real estate prices they've gotten to.
Speaker 2:Yeah, what a great investment.
Speaker 4:It is that same house that first that first house that that Donna and I bought it. I think we bought it for 60 and it just now sold for almost 400. Yeah, we wish you would. So, yeah, Right.
Speaker 2:We, we just really look at ourselves, though, in your position and my position as guides. We, we're not the stars of the show, it's our clients, you know, it's all about them, and we're just guiding them to the best house, to the best loan. And we tell our clients now and this is probably getting old for some of them to hear, but we're like if they're on the fence we say, you know, marry the house, but date the rate, because the rate's something that can change over time. And I tell clients you're going to be in this rate, this 7% rate or 6.5%, whatever it is today it probably changed five times since we've been having this podcast but get into the house. You're going to have the highest house payments you're probably ever going to have.
Speaker 2:It's going to be going down from here and you're going to be making more money. You're going to be able to refinance in probably 12 to 24 months. So, if you look at that, why wait on home prices to go up? Because I feel like and I've never seen it in my lifetime like this I feel like there's so much pent up demand to buy a house. If rates go down a percent, that's really going to spur on a lot of buying and there's going to be which is going to drive up the prices even more.
Speaker 2:So go ahead and lock in on a price, get a rate that maybe is not so attractive right now, but then the future looks bright for you to refinance and have lower payments.
Speaker 3:Absolutely, and it's the best, safest way to build wealth.
Speaker 4:It is.
Speaker 3:And it still is the American dream.
Speaker 4:It is.
Speaker 3:If we could tell younger people invest, buy your home, don't wait. So, guys, this has been. I think we could just go on. It's been such a great, great time together.
Speaker 4:Well, thank you, christine very much for inviting. And, Steve, thank you sir.
Speaker 3:Well, I didn't invite you, it was actually her that invited you but, I'm glad you came yeah I knew I was gonna get sam on this podcast she's been talking about, uh well, thank you so much she's like we got to get sam on a podcast I know. Seriously, I'm glad you're here and thank you appreciate your time and I appreciate you sit still for 30 minutes thank you, sam. Thank you Christine, hope you'll come back. Absolutely. With that we'll conclude the show and we'll have a brief uh outro.
Speaker 4:Okay.
Speaker 1:This has been benchmark happenings brought to you by Jonathan Tipton and Steve Reed from benchmark home loans. Jonathan and Steve are residential mortgage lenders. They do home loans in Northeast Tennessee and they're not only licensed in Tennessee but Florida, georgia, south Carolina and Virginia. We hope you've enjoyed the show. If you did make sure to like rate and review. Our passion is Northeast Tennessee, so if you have questions about mortgages, call us at 423-491-5405. And the website is wwwJonathanAndStevecom. Thanks for being with us and we'll see you next time on Benchmark Happenings.
