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What do the rates REALLY mean?


Welcome to another episode of Big Daddy Live. Today's guests are Morgan McGuire from Keller Williams Premiere, Ricky Silber from Compass, and Wes Shaw from Movement Mortgage. Boy did this show take some tangents.

Some of the questions answered include Is it really a better deal to wait, to try and grab a lower price? And the topic of true rates vs. advertised rates was explained by Ricky Silber, "They're only looking at APRs and the biggest problem with that is lenders are not all advertising APRs the same." They covered rate dependency, somehow Monica Lewinsky came up and those related oval office antics, In-n-Out - not related, but on to the topic of best burgers and how to order them.

OK, quote of the week you are looking for to be eligible to win the $25 Amazon Gift card is:

"Is there really something telling in the date that says that we're headed towards a recession because I have a feeling that a lot of that pressure from the Fed was more interested in propping up equity markets than it was in propping up the economy."

(Remember only one winner per venue per week - one on this site, one on Facebook. It's in a different place in both versions. After winners are announced, we'll post the full transcript.)

What does Escrow do and am I too broke to do financial planning?


You will learn a ton, even if you are already in the real estate industry. But, if you have ever bought, sold or are getting ready to buy or sell a home - this is the show for you. Also, Financial Planner, Marci Bair tells some heartwarming stories and gives great advice. Please welcome our expert pannel: Maddison Levin, brook Kane-Wootten from Foundation Escrow and Marci Bair, Bair Financial Planning.

The quote of the week that you'll have to listen for is "There are some escrow hags.". When you hear it, mark the time it is at and tell us on our FB page in the comments. We will pick the first winner here and on Facebook to find the timestamp of the quote. A different winner for each. The times are different, too.

BK attorneys who partner with agents are a good combo!


This episode featured a lot of discussion on why you want a Real Estate agent with more than just a license. Sasha Shanner brings the added strength of a husband who is a bankruptcy attorney who helps give sound guidance when drastic changes are needed. As we know, Bryan Garrity is a JD so he brings that law background and arsenal to his clients' aid. It was a great exchange, plus the usual rants and warmth you expect from Big Daddy Live. Some of the quotable highlights are below:

Bryan: ...but I want people to understand if there was no Madonna, there would be no Britney. If there was not Britney, there'd be no Gaga. I mean, the list could go on. You have to fill me in on who the young ... like Billie what's her name?

Morgan McGuire: Eilish.

On interest rates of the past:

Sasha Shanner: Remember those stories your parents told you. I bought it when it was 18%. I have to hear it all the time. And they still bought a house, and they used it as a building block to buy another house, and they refi'd when the rates went low, and there's just a cycle of it. It's really natural.

Bryan: ... if you're in the market and you're ready, it's a great time to buy. Let me preface it by saying that. I shouldn't say it's a great time to buy, everybody go out and do it, because for some individuals it's circumstantial at the end of the day. But I think if most people stood back and looked at what they pay in rent.

On the market crash and how this group adjusted to the changes:

Sasha Shanner: With a newborn and not having a job, and then my husband who is a bankruptcy attorney, his phone starts ringing off the hook. I said I'll come help you. I know how to manage a team, I can build a little ... I'll help you basically. At that point it was just help. Just help him. He was busy. Then that turned into ten years of running his office. In the height of the bankruptcy, we were filing about 40 to 50 cases a month. We had a couple paralegals and another lawyer. We had a whole team. It was just sometimes you ride the wave, and that was what I had in front of me at the time and I made the best of it.

Bryan recalling how he got into real estate: "When everything crashed on the finance side, people were coming wanting to refinance, can you represent me for this on the litigation side? Nope, nope. I got out of that (legal industry) for a reason. However, I'm like wait a minute. There's a way to make this work. Who is negotiating these short sales? That's how it started.

Sasha Shanner: Short sales were a really good opportunity in that time. I'm doing three short sales right now. 

It's a lot of coordinating. It's not your average thing for real estate agents. For me, it's very comfortable for me, because that's the background I came from of that distrust, but I almost think that it's not harder, but if you haven't done it ... like anything.

Bryan's Rant: I hate when I call an agent ... This bugs me, and boom, you get a text like two seconds behind it. So wait? You could not have picked up that ... You texted. It's not like those custom ones. It's one that they attached on there, so you had enough time to get your little fingers and go tappy-tappy, you couldn't pick up the phone and go, "Hi, this is dumb ass. Can I help you?" I'm sorry, she's much more put together than I am this way, but I would call them dumb ass. She'd be like, yes sir or ma'am. You guys get that, right? Pick up the phone!

The other part about real estate that bothers me that some people don't understand or seem to give credit for is like this is a huge emotional component in people's lives. You will have emotions whether they be good, bad, ugly, love, anger, whatever, you've been in the house for ten years, do not tell me you're not going to have some kind of emotion rolling out of there.

Bryan's biased opinion:  I always think the tall, beautiful gals like you really make an imprint. (his guests today are in the 6 foot+ range).

Plug for a friend: A buddy of mine, we did a segment last week with Melissa Sofia, she's amazing. She's a broker of Avenue Home Collective, that's her real estate company, and she's doing a thing called Momcation. 

Mothers are supposed to mother like they don't work, and work like they don't mother. That is so true. I think that from a societal standpoint that is a true statement.

Sasha Shanner had her own rant: And a double standard. I think it's hard, too, being a realtor, because sometimes, and it could just be in my own head. 

This is a profession. I show up for work every day. I mean, I get dressed, I have a certain amount I need to make for my family, I don't take it lightly. The hard thing is sometimes, and I love all these people, but I'll have moms come up to me and go, I'm going to get my real estate license because it's a great thing when you have kids. You have so much time. You're just so free because you're a realtor. And I'm like actually it's like totally opposite. If I had a 9-to-5, I would be able to manage so much better, but when I'm trying to make dinner and negotiate a contract, tell my kids, it's hard. I think it's harder than if I were just like ... Do you know what my dream job is? Be a checker at Costco. I could just be like checkout beep, beep, beep. I'm sure I'd be bored in two days, but sometimes I'm like wow, that's just like you don't really have to think.

Bryan:  A lot of them have no idea about a myriad of things that to me is shocking. Which they have hired us to handle their biggest asset all day, and to me, that's an honor, that's a privilege. These people need to be protected. 

Sasha Shanner: I just feel like there are so many resources, so it doesn't matter how long you've been in the business it's that you're humble enough to ask for help or get the resources or have the second pair of eyes.

A reminder from Sasha on the need to set limits, boundaries with clients and their thinking everything is 911 at 3 am:

You're tired. I mean, you need fuel. If you're truly doing transaction-based real estate and you're reading contracts and you're doing negotiations and you're tracking down some agents that won't call you back, and you finally get a hold of them, and you're like getting that done,  I feel like you have to kind of know when you are your best, otherwise you make mistakes. That means refueling, shutting it down to reset.

Bryan admits: If you want more escrow, just schedule a vacation. Everything will blow up as soon as you leave town. Never fails.

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1% commission bait and switch in real estate, skunks and racism.


This episode aired live July 15, 2019. Guests included: Patrick Mercer, Jennifer Koch, Ryan Alvey, Jonathan Cohen-Kurzrock. Topics ran the full gamut from a big chunk on Real Estate and commissions to healthcare, social media, The Golden Rule, racism and back to Real Estate. For context and more laughs, you'll need to listen to the full show here. Some of the quotable moments from today's episode include these:

But no, it was a 20-pound looking skunk. That thing was massive. It must've sprayed all over all three of them. But my girl's like, "No, no, you little b*tch. You're not allowed in my backyard, you're out of here." So she killed the skunk and then this morning I was like, "Ooh, the skunky."

Jennifer Koch -  I feel like Vanna White right now the way you're saying this.
Bryan Garrity - I feel like I was Vanna getting you my darling.

"There are some that are not so fun that are in real estate and they will not be on this show. No, they will not be on this show."

On real estate agent commissions and the supposed "1% commission" bait and switch:

Once you realize your self-worth, you'll stop giving a discount. 

It needs to be more than, "Oh I just want to get the listing," but what else are you offering against those other agents? Especially if we are talking the same price commission.

It's always scary when they say, "My friend just got their license a week ago." So the nice part of me, the nice part of me is like, "We'll help your friend." The realistic part of me is like, "Run the other direction and tell them to call me in a couple of years when you get some experience. Do you want to be the guinea pig for that person?

On racism

We live in a crazy society now with Instagram, Twitter, and Facebook, where I think that this hatred, if you will, or negative talk has always been around, I just think that it wasn't able to get out there because people said it kind of behind closed doors. 

I would say in the last few years though I feel like it's heightened. I think that comes from the top, you know, Cheeto head definitely I think has a big effect on that part. Where just when you see the allowance at the highest level in the US, being able to say certain things, being able to treat people certain ways, and for a lot of cultures dog whistles that other people might not hear, but definitely dog whistles depending on who you are. The people who have those racist tendencies in everything, that's how they feel like they're allowed to come out. A dog whistle is when basically someone says something and only the people who have that belief and the people who it's against are able to hear it. So what happens is a lot of people might not realize it, like there might be 50% of people who don't realize that someone just said something racist. Except for the group that's being hit upon and the people that that person is trying to incite the racism in.

I'll tell you what's happened the last couple of years, we found out that what goes behind those closed doors is not quite all rainbows and sunshine like people thought. It's too bad.

Let's just get back to a community of respect for one another, of love for one another. People make fun of me and say, "Oh yeah, love, love, love." Yeah, yes, love all day. Why not? You want it to be hate, hate, hate? That doesn't make a sh*it of sense to me, that actually pisses me off.

That's my favorite thing to do when I get home at night though. Sit my ass on the couch, and get a Mexican Coke, and play with my puppies, and watch The View.

Well, I feel like mental health is like the healthcare system and the way it's set up, they overlook that a lot and helping people with mental illness. I have a lot of family and friends that I've seen go through that and a lot of times it seems like they're just throwing pills at them. Let's experiment with this, let's try this, let's up that, let's take that down, let's throw that in, and it doesn't really help the problem. I think they just try to brush it under the rug and forget about it. Like, "Here take some of these and have fun."

On minding your own flippin' business:

Patrick Mercer: "It's obviously difficult for people to stay in their lane..."

Bryan Garrity - "I like that. Stay in your lane, stay in your lane."

American Horror Story Hotel, Kris Jenner changing her last name, Gwen Stefani’s new single and new median home prices in San Diego

American Horror Story Hotel is getting rave reviews from fans everywhere, but not so much from the Parents Television Council who has claimed that is is bringing the "most vile content they've ever seen" to basic cable. Funny enough, however, they seem to be more concerned and criticize advertisers for supporting this type of show rather than blatantly pointing fingers at AHS creator Ryan Murphy.

As for the show itself, it's definitely pushing the envelope this season, as it does every season, but hey thats what keeps fans engaged, intrigued and on the edge of their seat. It's also one of the reasons the show has developed such a following over the past few years. We're certainly not disappointed, especially Lady Gaga's debut acting performance and of course the rest of the stellar cast. 
Kris Jenner also made entertainment news headlines recently (when does she not?) about her decision to change her last name back from Jenner to Kardashian. As if large percentage of people could have any less of an opinion of the infamous matriarch and "momager" of the Kardashian family, she's really catching a lot of flack for this one. People are saying it's very uncool to play with the emotion and meaning attached to last names, especially with children involved just for the sake of branding. She may be doing it just for brand recognition and consistency, but leaves many with a bad taste in their mouth.
Gwen Stefani is all over the news too this week just releasing her latest single, "Used to love you", which is very clearly about her dealing with her relationship ending with husband Gavin Rossdale. Reportedly this has not been a smooth divorce process so far. The song is fantastic and video are full of raw emotion, but she's fantastic so we expect nothing less.
The last subject #OnBigDaddysRadar this week was the median housing price in San Diego. It has continued to rise over the last few years and now has just reached $460,000. While San Diego is one of the best places to live in the US, we certainly pay a premium to live in America's Finest City.

Real Estate Tips, Taylor Swift, South Carolina tragedy and the Confederate flag…

We had a small panel, as both Amanda and Michael were out this week. Despite missing our wonderful panelists, we still had a great conversation addressing current news topics, especially the tragedy in South Carolina and the current debate going on about the Confederate flag. 

Bryan and Drew also touched on Taylor Swift's open letter to Apple demanding that the company start paying artists in the three month free-trial for new Apple Music users, which resulted in Apple reversing its policy.
Finally, it's Summer, which means it's not only the hottest time of the year, but also the hottest and most active time to buy and sell your home. Bryan covered the most important tips and advice on buying and selling a home this season that you won't want to miss. 

Real Estate and Mortgage Tips, Social Media and Mix of Pop Culture

This week, in addition to covering a few hot topics in the news, we dove into a few important issues regarding real estate, including what to look for when vetting an agent. We also touched on important regulations changing when it comes to mortgages, and finally how to make your overall home buying or selling experience as painless as possible.

Finally we talked a bit about social media and cleared up some misconceptions about hashtags and how important they are in helping your posts become more discoverable, as long as you don't use them incorrectly. 
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