Shana Acquisto and Mike Acquisto, Broker of Acquisto Real Estate discuss the most pressing real estate topics each M-F at 8:45 am central on Acquisto Real Estate TV, a blooming real estate Talk Show. This podcast is all about Hot and Trending topics in the Real Estate Niche.
Real Estate News TV
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Podcast Overview
Shana Acquisto and Mike Acquisto, Broker of Acquisto Real Estate discuss the most pressing real estate topics each M-F at 8:45 am central on Acquisto Real Estate TV, a blooming real estate Talk Show. This podcast is all about Hot and Trending topics in the Real Estate Niche.
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11/22/2021
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Recent Episodes
October 7, 2022
Change to Clear Co-operation Reporting.
Ladies and gentlemen, the market is moving, things are happening. And that is our topic. It changes to clear cooperation and the reporting policy as it relates to that here. Seana, she’s got a quick update for you. It’ll be a quick update. So, you know, there’s been discussions on, hey, I see this person and they’re marketing their property, they’re showing the the photos of it and they’re telling the city, but they’re not putting that address on there. And we’ve believed that that was acceptable. Well, it’s not. So the requirement to provide a full address, full address of property when reporting this as a violation has been changed. So now you can report this as a violation. This falls in line with the NA enforcement requirements. They’ve been clear on this the whole time, but I think there was some misunderstandings through networks. So now they coincide together and it is very clear that you can submit a, you know, a complaint so you can submit a complaint. And they do have to research it. And, you know, you can get fined for marketing a property even though it doesn’t have the address. That’s the that’s the thing to know here. So be careful. We’ve had discussions on this in the past and, you know, is what it is. So we want to be careful. Nobody wants to find you know, it can be a $5,000 fine. So that’s pretty, pretty steep. So let’s all be careful with that. That’s it. Thank you, Shana.
October 7, 2022
The Line: Saudi Arabia Urban Development
The line. It’s a brand new development in Saudi Arabia and it’s part of their urban development plan. And we’re going to kind of discuss it because it’s super interesting and a little bit unique. It is definitely a huge real estate development and it’s modernizing the way that they do things, and maybe this is the way the future. I’m really impressed with some of the things that come out of large, big projects, right? When you have a vision and they go ahead and start to execute on it. Yeah, you know, everything’s not always perfect how it works out, but this one in particular is a really grand plan. So let’s go ahead and share the screen and take a look. So this is the line. It looks like it’s a video game. It does. But this is actually real life. I don’t know. Why that girl flying in real life. Yeah, I don’t know about that. But this is what they’re kind of looking for. I have a picture if we scroll down and think maybe just a little bit more. Right there. All right. So that’s what they’re looking at. So what this is, is a huge line that stretches across the country from one side to the other, trying to get rid of cars. So there’s no cars inside. But it’s a huge structure. And according to the information I have, it’s taller than the Empire State Building. Wow. Oc Yeah, all self contained and it’s a huge line and it’s like 100 and let’s get some stats on this one. How long it is? It’s 170 kilometers long. So it’s like 100 miles, 100 and some or 105 miles long and it goes all the way through the desert and then inside it has the same climate all the time. Okay. It will only be 200 meters wide. Yeah. So it’s narrow and long. It’s all self contained. High speed rail. Yeah. Oh, now you’re getting interested. Well how do they. I’m just curious about their water and. Yeah, no, you can go from one end to the other end. 20 minutes. So everything’s all self contained. You’re within this ecosystem that is the same ideal climate year round. So one of the problems they have there is it’s very warm, right? Yeah. So they’re going to have the ideal climate inside all the time. Yeah, really crazy. It is crazy. Does it seem real? No, but it is. They’re actually starting on it and it just has all these things that they’re trying to build in there. So it’s it’s a vision that’s getting carried out by there, by the crown prince of Saudi Arabia. And what they’re trying to do is get this to be the new way it’s gone. It’s like wanting to live on Mars. It seems like it is like living on Mars. So it’s just a different way of doing things. But they’re trying to reinvent and have a huge urban plan. Is this a plan or is this something they’re like, no going on? No, they’re doing. And they do really ambitious plans. That’s yeah. And they have a couple of other ones that will go over millions. We’ll go over it in the near future, you know, some of the other projects that they have going on. But there are large plans and the idea is to change the carbon footprint, to make life a little bit better, to make properties more dense, but then to have more wide open spaces. So basically everyone lives in a high rise, but then everybody walks, so there’s no commuting. So you can get from one end to the other end in 20 minutes on a high speed rail that goes the whole way. So it’s like perfectly straight. And then imagine that it’s only so wide. So people like live on the side. There’s this middle where it is, but it’s like a whole park through the whole thing. And you live, work, shop, everything right inside. Well, they’ve got to control population and if it’s like. It’s 100 miles long, and taller than the Empire State Building. And so it has nature in it and it’s just within this. So it’s designed to be this like utopia of what’s going on now some of the times that there’s unintended consequences that backlash from stuff like this. Yeah. So they come up with it and they’re like, well, it’s going to be way better for the environment
October 7, 2022
50 Year Mortgage Considered in UK
50 year mortgage five zero 50 year mortgage considered in the UK. Seana I’ve been a big proponent of finding a way to bring down the cost of home ownership and doing it in a logical way. This is one of the things that I talked about a long time ago as interest rates were going up and as home prices are going up. So what do you think the UK said now? Well, it was proposed and then quickly they did say no, but they thought about it. So let’s talk about why it would potentially be a thing. Yeah, it’s too long. But you know, if you think about now 30 year mortgage, it used to be just unfathomable that you would pay off a 30 year mortgage ever. Right. And now you’re seeing people pay off their 30 year mortgages. Well, that’s just because we’re old. I don’t know if you think about that. All right. So let’s let’s talk our way through it. Okay. The traditional 30 year mortgage has 360 equal payments that you’d pay off over time. Now, what is the average time that a person stays in their home right now? I don’t know. Well, it’s really 3 to 5 years. Yeah. And then how often do they refinance it? Very often. So let’s consider this. Imagine that if you have any homeowners that are going to be buying a brand new home or whatever the their next home is, and they buy it now through the next several years. What we expect is that interest rates are going to be higher than they normally would be. And I would bet I would go ahead and say that they would be able to get a better mortgage rate in 2 to 3 years in the future from when they buy it. So what that means is you’re going to be refinancing it. So they’re going to refinance. They’re like scheduling a refinance because at some point within the 30 years. And I would beg to differ or I would say that if you buy it in the next couple of years, interest rates are on this trajectory going up. And then after they go up, they go down. So then when they go down in interest rates are lower, people refinance. So right now, it seems like anyone who’s buying a house is scheduling a refinance of their home in a couple of years. So if you do that, why are you trying to accomplish to pay it off in 30 years? Because all you’re doing is having an arbitrarily higher payment amount that you need to pay to the bank. Right. So if it was a 50 year mortgage, it wouldn’t substantially matter because what you do in the beginning is you pay pretty much all interest. Right? So why not just lower the interest that you’re paying to them? Because you say, I’m going to pay it off in 50 years instead of 30 years knowing that you’re going to be refinancing it in two years. I mean, it just helps a consumer. It really does. How does that help the lender? How does it help the lender? Well, I’m not really concerned about helping the lender, but what it does is it allows more people to get approved, to have a lower monthly payment and cost of home ownership on a monthly basis. No. Because you qualify that you qualify people based on. But then if you do, say, pay it off early, there’s probably going to be no prepayment penalties. There’s nothing like that anymore. So I just think the 50 year mortgage helps bring down the monthly cost of it. And if you really look at it, homes aren’t going anywhere. Right. I don’t know why here in the US we try to pay it off so quickly. Because people don’t like to have debt. But imagine to have debt. Sure. I totally understand that. Right. But a house is supposed to be here for a long period of time, you know? I mean. That’s the other thing are is the quality of the homes such that, you know, I don’t know, definitely 50 years that your home is still. Yeah, your home is an appreciating asset, meaning it goes up in value over time. So it’s a good asset. There’s no reason that we shouldn’t lengthen the amount of time that you can finance it over. If you consider think about this one in general, you have a depreciating asset in a car, so a car is going to go down. What is the real use
194 total episodes available
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