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Speaker 1: My name is Nigel. Jason Hammer is out, Ethan Hatcher

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Speaker 1: is in. We'll go straight to the hotline and bring

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Speaker 1: on the best when it comes to local real estate.

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Speaker 1: His name is Mark Didel. Mister Didele, welcome back to

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Speaker 1: the Hammer and Nigel Show. How are you?

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Speaker 2: I'm doing well? Thanks so much for having me.

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Speaker 1: Man. I saw a headline I wanted to run by you.

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Speaker 1: I'm just curious and then I want to get your

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Speaker 1: thoughts locally here what's going on with real estate in

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Speaker 1: Indianapolis specifically? But here's this headline. This is from Yahoo Finance.

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Speaker 1: When will mortgage rates go down? Oil prices and inflation

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Speaker 1: create uncertainty? And then it goes on to say the

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Speaker 1: national average thirty year rate continues to climb now sitting

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Speaker 1: at six point two to two percent. My first question

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Speaker 1: is win a rate's going to move back below six percent?

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Speaker 1: And is that six point two to two percent? Is

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Speaker 1: that accurate? Mark?

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Speaker 2: Well, first of all, you have the wrong guest on

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Speaker 2: the show. You need to call President Trump as it

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Speaker 2: relates to the rate, because there's a little conflate going

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Speaker 2: on that we all know about that's really kind of

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Speaker 2: made these rates spike. As it relates to inflation, which

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Speaker 2: is being driven by oil in the very much short term.

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Speaker 2: So if you to talk to me just four weeks ago,

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Speaker 2: we were trending very well as it relates to rates. So, yes,

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Speaker 2: that's probably correct, but I would say that's probably even

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Speaker 2: probably low. I was told yesterday that rates are up

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Speaker 2: getting closer to six point four to six point five. Wow,

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Speaker 2: So definitely we've had a spike here very specifically related

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Speaker 2: to what's going on over there.

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Speaker 1: And I ran, okay, so that is correct. Then in

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Speaker 1: terms of oil prices, even gas prices that relates directly

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Speaker 1: to mortgage rates. Well, what happens is it's, you know,

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Speaker 1: it's kind of just it's that ripple effect. It kind

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Speaker 1: of just goes through the market.

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Speaker 2: It's all of a sudden they start looking at the

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Speaker 2: oil price related to inflation, and then what inflation means

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Speaker 2: to rates as a whole, the ten year treasury, which

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Speaker 2: is what we follow on thirty year fixed rate mortgages.

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Speaker 2: So yeah, unfortunately, it really has had this pretty significant

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Speaker 2: impact in a short.

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Speaker 1: Term generally speaking, should somebody wait till they get back

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Speaker 1: down below six percent before buying a home? I knew

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Speaker 1: it doesn't seem like that would help your cause at all,

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Speaker 1: you know, telling somebody to wait on buying a home.

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Speaker 2: Well, let's take I mean, if you take this the

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Speaker 2: interest rate and you set it off to the side,

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Speaker 2: and it's a little bit difficult to do that because

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Speaker 2: I think anybody in the business I'm in and has

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Speaker 2: been and does as much business as we do understand

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Speaker 2: the race or the initial driver. But if you look

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Speaker 2: at statistically just our market Indianapolis, I track four numbers.

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Speaker 2: I look at medium sales price, I look at medium

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Speaker 2: days on market, I look at active inventory, and I

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Speaker 2: look at months of supply of inventory. If you look

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Speaker 2: at Central Indiana, based on those four numbers, I'm telling

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Speaker 2: all buyers now is about the best time to buy

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Speaker 2: that probably in the last four or five years. But

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Speaker 2: it's not just as simple as that as it relates

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Speaker 2: to they have to come together as it relates to

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Speaker 2: the first time home buyer and affordability. Then again, I mean,

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Speaker 2: our prices are still relatively high versus where they were

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Speaker 2: four or five years ago, but I still I still

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Speaker 2: don't see those coming down. So if a buyer can

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Speaker 2: find the home they like and it meets there, you know,

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Speaker 2: within their buying box and it fits within their financial parameters,

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Speaker 2: then we're telling people, yes, buy it now, you can refi,

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Speaker 2: and that can always happen, but chances are it is

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Speaker 2: going to get more competitive as it relates to buying homes,

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Speaker 2: and that's going to drive price. And then when the

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Speaker 2: rates come down and you found that home, now you

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Speaker 2: know you could refi. So that's kind of been our

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Speaker 2: philosophy with our clients.

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Speaker 1: Speaking with Mark Bedle, local real estate expert. Full disclosure.

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Speaker 1: Mark is an advertiser on the Hammerhy Nigel Show and

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Speaker 1: on our radio station on all the shows, I believe.

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Speaker 1: So he is talking about how what's going on in

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Speaker 1: it Ran and the oil price is directly affecting mortgage rates.

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Speaker 1: One more thing, and then we're going to turn locally

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Speaker 1: here to what's going on. I've got some specific questions

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Speaker 1: here for you about Indy. This idea of the fifty

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Speaker 1: year mortgage. Was that a thing? Did I see that

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Speaker 1: in the news recently?

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Speaker 3: Yeah, there's been talk about that.

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Speaker 2: You know, that's a long way away. That's just one

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Speaker 2: small conversation. Is that relates to the whole affordability issues.

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Speaker 2: So I think there's other things that can be done,

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Speaker 2: but I think there's no question we when I say we,

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Speaker 2: you know, are locally, state, federal, really we really do

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Speaker 2: need to look at this affordability issue because across the

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Speaker 2: board it is difficult. But that is one component that's

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Speaker 2: being talked about. There's a lot of pros and cons

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Speaker 2: about it, and yeah, whether it happens, that's a little bit,

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Speaker 2: you know, yes, yet to be determined.

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Speaker 1: I don't think I want a fifty year mortgage. I'll

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Speaker 1: just stick sounds.

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Speaker 3: Crazy, yeah, but I mean technically, if you look at it,

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Speaker 3: and you look at the equity improvement, and you look

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Speaker 3: at how long do people really stay in a home,

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Speaker 3: you know, it could be a benefit for that first

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Speaker 3: five to seven years on a first time home buyer

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Speaker 3: if you're getting equity growth.

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Speaker 2: But again there's calculations, there's numbers. Philosophically, it's hard to

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Speaker 2: debate that right now until I think more information gets

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Speaker 2: put on the table.

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Speaker 1: Speaking with Mark Didle here, real estate expert, and I

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Speaker 1: saw one of those websites that shows you a bunch

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Speaker 1: of different houses. They put in an article about the

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Speaker 1: most buyer friendly markets of twenty twenty six, and at

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Speaker 1: number one was Indianapolis, Indiana. Followed by Atlanta, Charlotte, Jacksonville,

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Speaker 1: Oklahoma City. But Indy is number one on this list.

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Speaker 1: Do you think that's accurate? And why is it?

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Speaker 2: I had a gentleman tell me this was probably twenty

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Speaker 2: twenty five years ago, about real estate when it comes

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Speaker 2: to Indianapolis, and he says, why I like Indianapolis is

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Speaker 2: because it never gets too crazy on price and it

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Speaker 2: never gets too low, like you know, those peaks and valleys.

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Speaker 2: And I think that's very true. We're still considered very

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Speaker 2: affordable for a large metro area, and I think we

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Speaker 2: have a fairly stable job market. So when you look

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Speaker 2: at that across the board, consistently we stay in that

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Speaker 2: top ten. So whether we're number one, whether number whether

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Speaker 2: we're number five, it's really maybe that can change off

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Speaker 2: and on whether you look at whatever realtor dot com Zilla,

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Speaker 2: all the different areas out there. But I think Indianapolis

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Speaker 2: we are fortunate to be in a market relatively speaking,

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Speaker 2: it's still very affordable and people can go out and

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Speaker 2: find homes, you know, if they've been you know, they've approved,

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Speaker 2: and they can find the home that's in there. What

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Speaker 2: I like to say is their bybox. So yeah, I

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Speaker 2: think there has a lots there's a lot of benefits

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Speaker 2: and positive positives we have here in Central Indiana, and

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Speaker 2: I'm thankful for that.

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Speaker 1: Where Mark, where's the hottest location in Central Indie in

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Speaker 1: terms of home sales, I'd say.

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Speaker 2: It's it's amazing statistically right now, when I'm looking at Hamilton,

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Speaker 2: I'm looking at Johnson, I'm looking at Hancock, and I'm

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Speaker 2: looking at Hendrix. So the coins for Northeast, South, and West,

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Speaker 2: they're all very similar. As it relates to the months

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Speaker 2: of supply of inventory is you know anywhere from the

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Speaker 2: low twos to the mid to high twos. That's the

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Speaker 2: number we call that that kind of measures the market.

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Speaker 2: Then when you look at active inventory, then when you

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Speaker 2: look at actually the medium days on market, all those

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Speaker 2: numbers right now in all those counties, when we compare

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Speaker 2: it to last year, I'm looking at numbers that are

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Speaker 2: up twenty percent, twenty five percent, thirty percent. Now these

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Speaker 2: and these are numbers that when they're higher, that means

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Speaker 2: like these percents are higher, that means the market's kind

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Speaker 2: of slowed down or it's really becoming more of a

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Speaker 2: buyer's market. So and then on the medium sales price

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Speaker 2: that really has. I mean, when you look at the

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Speaker 2: entire Central Indiana on the pricing, the medium sales price

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Speaker 2: actually went down versus a year ago in February twenty

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Speaker 2: twenty five. And I'm looking at February numbers right now,

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Speaker 2: which you know, we're almost done with March, and a

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Speaker 2: lot's happened since February. So you know when I say

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Speaker 2: that internationally obviously.

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Speaker 1: Sure sure so. So with what's going on right now

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Speaker 1: in Iran An oil prices spiking, what kind of spring

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Speaker 1: home shopping season should we expect?

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Speaker 2: Well, I think this can get resolved as quickly as

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Speaker 2: it's flared up. If you know, some situation, you know,

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Speaker 2: the situation happens the way maybe we wanted to unfold

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Speaker 2: in the Middle East as it relates to the straight

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Speaker 2: of Horn News and all that. And we're talking about

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Speaker 2: that way over there affecting you know, kind of a

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Speaker 2: housing market because again it's impact and rates. So if

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Speaker 2: the race can adjust, if things get stabilized over there

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Speaker 2: and it starts to become more contained, containment instead of

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Speaker 2: you know, offensive, I think some of these I think

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Speaker 2: the raates can move back down to about what we

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Speaker 2: were looking at thirty days ago, and I think Spring

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Speaker 2: could be a decent market. But if it doesn't and

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Speaker 2: this thing drags on a little bit longer, I think

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Speaker 2: you're going to have people sitting on their hands and

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Speaker 2: kind to hold off. I had one of my my

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Speaker 2: my ops team leader came in this morning. She goes, Mark,

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Speaker 2: I just paid four dollars and twenty cents a gallon

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Speaker 2: on the west side for gas. That shock is hitting

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Speaker 2: people in a real way, not just you know, financially,

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Speaker 2: but also you know, this is kind of mentally like,

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Speaker 2: oh man, you know, maybe I better just kind of

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Speaker 2: hold off here and just kind of maybe see what

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Speaker 2: happens on my you know, my rate. I didn't lock.

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Speaker 2: I got to look at this again, and I might

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Speaker 2: have just so it could cause a pause. I'm I

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Speaker 2: was more optimistic thirty days ago than I am now.

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Speaker 2: But we still have buyers. We still have sellers when

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Speaker 2: we had a good first quarter. So you know, again,

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Speaker 2: if a buyer hits their financial parameters as it relates

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Speaker 2: to their down payment, their you know, credit score, they're

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Speaker 2: verifiable and reliable income and they can go out and

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Speaker 2: find a house that fits their need and their affordability

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Speaker 2: kind of brackets or window. Now's a good time to buy,

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Speaker 2: even with everything else going on.

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Speaker 1: And you can find those houses for them, right absolutely, absolutely,

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Speaker 1: we're looking every day. Where where can people find you? Mark?

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Speaker 1: How do people get hold of it?

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Speaker 2: Best way is markedeitle dot com. That is our website

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Speaker 2: and get all contact information. Mark dot needle at markdeitle

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Speaker 2: dot com is my email address and again you can

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Speaker 2: get my number on our website. But it's three one

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Speaker 2: seven four four one seven eight eight seven that is

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Speaker 2: my number. So that's how people can get ahold of us.

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Speaker 1: Mark you the best of what you do. Man, Thanks

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Speaker 1: a lot and have a great week.

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Speaker 2: Thank you too, appreciate it.

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Speaker 1: It's a hammer in Nigel Show