Real Estate Show Churchill Mortgage

Real Estate Show - Churchill Mortgage

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[00:00:00] Alice Lema: -Well, welcome back to the real estate show folks. Alice Lema here, broker John L. Scott in beautiful Southern Oregon on your host of the real estate show. So happy to have you back. And today we're so excited to have our in-house lender on the show again. He comes every month, the first of every month, Mr. Guy Giles. And we're celebrating with Mr. Guy Giles today. The fact that he is the new branch manager here in Medford of Churchill mortgage. And for those of you who don't know Churchill mortgage, they are part of the Dave Ramsey family. So really great to have this change in Medford, Oregon, super excited to have Guy Giles, bring us up to speed on all the different things that Churchill mortgage can offer.

[00:00:46] And I understand they have quite a deep set of strategies. And products to help, not only buyers, but sellers as well. So can't wait to hear all about it. He's bringing with him, Matt Clark, who is the chief operating officer of Churchill mortgage. And together we'll get to hear about all the things they can do to help us through this weird time that we're all going through.

[00:01:11] And speaking of weird times, the federal reserve bank again, this week just raised the interest rates. Oh my gosh. We have had so many increases so fast. It's really a lot for the market to absorb yet. We're getting through it. The buyers are getting requalified.

[00:01:28] They're having to change their price points. In some cases they're having to change their closing cost strategies in some cases. And few of them are having to just step out of the market and regroup. Maybe get a bigger down payment, maybe wait it out a little bit and then get a new strategy and reenter the market.

[00:01:47] Maybe later in the summer the sellers are also having to adjust a little bit. We are getting more inventory on the market finally. And with the high interest rates affecting the kind of offers the buyers can write, the sellers are having to make some adjustments as well, but we're getting through it.

[00:02:04] And we are still here in Southern Oregon, one of the more popular places to live. And those of us who are lucky enough to have been here for a while, we know that very, very well. And then we have all of the relocaters they're still coming. So we're looking for a pretty busy summer and just making some adjustments to accommodate the new rates.

[00:02:26] In the meantime, we're going to have a good chat with Guy Giles and Matt Clark of Churchill mortgage. They'll bring us up to speed on how they can help and some of the impact of this latest rate increase from the federal reserve bank. So we've got a quick break coming up. Don't want you to touch that dial.

[00:02:43] We want to say thank you to Churchill mortgage for being a sponsor. Also the rogue valley association of realtors and John L Scott of Ashland and Medford. We appreciate your sponsorship for the show every week. Well, welcome back folks to the real estate show. I'm Alice Lema, I'm a broker here in beautiful Southern Oregon with John L. Scott real estate.

[00:03:04] And we're so excited to have back on today. Guy Giles he's with Churchill mortgage and Matt Clark, who is the COO of Churchill mortgage. Welcome gentlemen.

[00:03:17] Matt Clarke: Thank you, Alice. Excited to be here and be Guy's sidekick in any way.

[00:03:22] Alice Lema: Oh, well Churchill mortgage is really, really an amazing company. You guys want to just kind of introduce yourselves and, and let's talk a little bit about the company?

[00:03:34] Matt Clarke: Guy why don't you start.

[00:03:35] Guy Giles: Well, I mean, I've obviously been around for, I don't even know how many years now and on the show maybe 12 or something, but Churchill mortgages new to the valley and we are excited to have it. I honestly, wasn't looking to make a move.

[00:03:48] We were, we were closing loans, just fine over at mutual of Omaha. Couple of guys asked me to talk to them one day and they said, if nothing else, we might just become friends after we meet. And then I thought, all right, well, this is, that's the lowest pressure sales thing I ever got. So we met and unfortunately they are, or fortunately they met a couple of other people in my office and they were so impressed that, and I'm like, nobody wants to move right? And they said, well, no, no, of course not. But we really liked these guys. And so we had them back a couple more times. There were literally almost two pages of things that, that Churchill was just ahead of the game, at least with my mortgage company. And I found out, cause I vetted out a few when we actually started thinking about moving.

[00:04:32] I didn't want to you know, dance with the first girl I saw. So we, we looked and, and there, there are just some things that we can add to the community, add to our buyers. And I was just, I was sold when I heard that the motto was people over profits. And you know, at that point that's, that's always been my philosophy.

[00:04:56] Matt Clarke: You know, guy, I can remember the very first time you and I had a conversation. You shared with me the story of when you took your wife to Europe without a plan, and you just, you had the first night book, then the rest of the trip, you just bounced around wherever. You guys decided to go. And I really enjoyed that conversation and I also really enjoyed that story because it relates so well to the real estate business that we're in today.

[00:05:24] We're in a, we are in very much a game of what I like to call financial Jumanji, where the rules just continue to change unannounced on an ongoing basis. And being able to be nimble, being able to respond to what people's needs are in a moment it's just so critical. And you've got that spirit to do that in the spirit to serve others really well.

[00:05:46] You know, Churchill's been in business now 30 years. Completely debt-free we've always been debt free. That's just one of the things that's allowed us to really thrive, even through seasons where there's famine and we kind of manage our company the way that we encourage people to manage their financial lives.

[00:06:05] That comes a lot from our relationship with Dave Ramsey, Dave Ramsey, biggest voices in finance and America has got the second largest radio show host of any genre and the country's got countless books written and several authors underneath him. And we were his very first sponsor when he decided to get on a radio show for 30 years, we've been kind of working with people that trust Dave for advice and in return they trust us because we borrowed that trust from Dave. And we honor that.

[00:06:42] And it's important to know simply because we know our job is to ask great questions and help people win with money long-term and serve them really well. And when it comes to people over profits Guy, one of the things we know is that if we take great care where people, our people and take great care of all the families that trust us with their mortgage and those families then take great care of the company. So it's really is a, a cycle of servanthood. And so Alice, thanks for having us on.

[00:07:10] Alice Lema: Well, it's just super exciting, big, big fan of Dave Ramsey. And his story is Very much uplifting and a role model for a lot of us. So super excited to have you, Matt Clark and Guy Giles with Churchill mortgage. Now I let's talk a little bit about what sets Churchill mortgage apart, because you do have a little different business model and you do have some different products that other lenders don't have.

[00:07:38] Matt Clarke: Yeah, Guy, let me, let me take a crack at that. And then you fill in some of the details on the, on the product side. One of the, one of the beliefs that we have is that it's our job to help every family that comes to us with a mortgage, get on a path towards what we call the real American dream of debt-free home ownership, regardless of where they are.

[00:07:59] A few people can get there. A few people enjoy the, the, the freedom and the peace that comes from owning your home free and clear. And what we know is that when we can show people that that's possible when everybody else is telling them it's not. It creates hope in people's lives. And that hope leads to opportunities that most families never even dreamt of.

[00:08:22] And so we've run our organization that way to where we do go deep with all the families that come to us to make sure that they're equipped to make the best decision for how they finance the largest financial transaction in most people's lives, their home and how they do that impacts everything else, including their marriages, how they interact with their children, the decisions they make from a day-to-day basis, how they're able to save for other things in their life. And so we know that it's just such an important decision for families to make. We try to really take the time and give them options beyond what most people talk about, which is great service.

[00:09:04] Guy Giles: Yeah. And then I actually just had something done on me while I was well, actually prepared a couple of minutes for this show, which is unusual for me. So thinking about this, if we do our job, just like, we want to do our job, you won't need us in 10 years, our clients, as they come to us and hopefully we can take good enough care of them.

[00:09:22] And I mean that by they have a paid off house at that point, where else is the philosophy? Let's, let's do such a good job for our clients that they don't need us. Well, you know, hopefully they'll tell us about a friend or two and we can, we can help them with the same thing, but everything from the top down with this company, isn't about doing this deal and working it out to where you're going to do the next deal with, with the person.

[00:09:43] I mean, obviously you want to do the next deal with the person. You know, people are gonna move, things are gonna happen, but, but just the whole idea of getting them out of debt is kind of an odd concept for a company that does debt, but it's, but it's really cool the more you think.

[00:09:59] Alice Lema: Well, and it's an interesting philosophy because it really is putting the human's best interests first.

[00:10:08] And we just don't see enough of that. And I think consumers and future homeowners are very much wanting that sense that they're in good hands of someone who is putting their best interests first. Cause it just doesn't happen very much anymore in any business.

[00:10:27] It really doesn't people want an advocate.

[00:10:30] Matt Clarke: People want a friendly, people want to know that, that the people that they work with know them deep enough to help give them the right advice and the right guidance. Our, our tagline is doing what's right for you. And that just kind of speaks to everything that we try to guide ourselves by, is that we have to make sure that if we can help people make great decisions, we're going to be okay.

[00:10:57] Alice Lema: So when someone comes to Churchill mortgage, you were speaking earlier, Matt, about preparing them more deeply than a lot of lenders do. It's not just about the rate and the service. What are some of the conversations that Churchill has with people to help make sure that they're ready for this big, big investment in their life.

[00:11:19] Matt Clarke: You know, it all comes down to asking great questions instead of letting somebody race to a quick decision based on rate, without even understanding what the costs are associated with that mortgage. You know, a lot of people think they know what they want, but once you start peeling back layers of why they're trying to accomplish whether it's a purchase of a new home or a refinance of an existing property or purchase of an investment property or a second home, or any number of reasons that we talked to families, that the importance is digging into the why they are looking to do a transaction and what they're trying to accomplish, not just today, but over time.

[00:12:03] And so what does, what does owning this home mean? And we can then go deeper from there and guide them through a number of options and present those options in ways that they understand, that are fully transparent on the cost. The biggest tragedy in our business is a company throwing a rate around without fully understanding what the cost is going to be to get that rate.

[00:12:27] All of the other hidden charges, fees, et cetera, and what they're going to pay over time. The structure of loans matters. It matters. So many times we help refinance people out of loans they shouldn't have been in the first place because somebody didn't take the time, to structure the deal, right for that persons today and tomorrow.

[00:12:49] Guy Giles: And even on the refinance side, I've had so many times people come in and they say they want to refinance because somebody from an online lender called them and told them, they'll save $200 a month, but they're 15 years into their mortgage and did that really makes sense. You're going to save $200, but you just started 30 years over again.

[00:13:07] And, and I've even gone as far as to have them not think far enough ahead to maybe their new fiance is graduating college and they're going to end up someplace else. So then why would you want to go spend a whole lot of money to, to refinance your loan if you're not going to be in it long enough or pay a lot in fees to get it to a certain rate, if your plan is not to be there at that point.

[00:13:29] So it really is about 32 things that go into quoting a good, accurate rate. And, and just, just having that person set up for the future. There's nothing worse than, you know, somebody saving. $20 a month, but then they're going to retire in 15 years. And you know, now they're 30 years away from having that thing paid off again. So just, just about finding out their goals is the most important.

[00:13:53] Alice Lema: Asking questions, asking enough questions to really find out what's going on, what the motivation is. It's exactly like you said, and that really helps set them up for success later because there's nothing worse than being 15 or 20 years into your mortgage life and then finding out you should have done this direction or that direction. That regretfulness is just awful. And so many homeowners have that regarding the transaction they did. And it's just, it's just terrible. You don't want to lock yourself into a mortgage you regret.

[00:14:28] Guy Giles: No. And, and probably what we can talk about, I know we'll have a break coming up here in a couple of minutes, but other, the other issue is how do you get a house accepted? And that's another thing that Churchill seemed to be very innovative about, about two or three different two or three or three different things that kind of address what would make the, the buyer comfortable and what would make a seller comfortable wanting to accept that offer from a buyer.

[00:14:51] You know, I, I time these things very poorly around breaks and now I probably have 45 seconds since I said it's up for that, but.

[00:14:59] Alice Lema: Well, and that's one of the reasons I'm excited about Churchill mortgage being in town is just having more solutions especially in these tumultuous times. And I really liked what Matt said, financial Jumanji in real time, it made me laugh, but it, it does feel like that we get up every day in this business and not know what to expect.

[00:15:22] Matt Clarke: So you just have to remain nimble. One of the things Guy, you were alerted to is our, our home buyer's edge program. And will you talk more about this after the break, but effectively we've put together a package of a lot of different programs that are unique to the market to equip our buyers to win offers in a market where it seems every single property nationwide, forget Southern Oregon, across this country, of the demand is so much higher than supply that every home for sale is met almost with a fire sale right now with multiple offers.

[00:16:08] Alice Lema: Well, we'll hold that thought, we're talking to Matt Clark and Guy Giles of Churchill mortgage. We'll be right back after a quick word from our sponsors. Don't go away.

[00:16:18] Well, welcome back everybody to the real estate show. Alice Lema here, broker John L. Scott and Southern Oregon. Having a great conversation with Matt Clark and Guy Giles of Churchill mortgage. Lots of fun stuff. They're going to be talking about here shortly.

[00:16:35] Right before the break, Matt, you were mentioning something about home buyer edge, which helps buyers compete in this a really difficult market. Can you tell us more about that?

[00:16:47] Matt Clarke: I can, you know, I've been recently a purchaser of a home in this real estate market and I'm, I'm so glad that I have been in it because I know what our customers are going through. So we decided to put our house up on the market and it sold within a few hours. And all of a sudden we woke up and realized we didn't find a house to buy it. And we went out looking and we looked at a bunch of different properties and we like everybody else had to make offers well over asking price and we couldn't get them accepted.

[00:17:23] And it started to get really frustrating and very anxious and out of that, came a healthy empathy for people right now who are either choosing to move or have to. A lot of people put themselves in a situation like I did. Others actually have to move because of jobs because of life, because of other things.

[00:17:45] And yet they can't either find a house or afford a house in the way that today's market prices are going up so fast. And now rates are going up really quickly, almost every day. And so we put together a program called home buyer edge, where we do a couple of things that are unique in the marketplace. One, as buyers come to us and to get approved, we don't just stamp a pre-approval a pre-approval stamp on there.

[00:18:11] That doesn't mean anything. We actually take them very quickly through the full underwriting process. So they're effectively, already approved. And all we need is a property. And so it's almost like buying with cash. Second, we offer what we call a rate secured program where we not just, we don't lock in their rate just for 30 days, but we have a long-term lock program that allows them to shop recognizing it might take them a little while to find that home. And at rates are going up pretty quick. So their buying power diminishes by the week, if they're not able to secure in a longer-term lock. So our rate secure program does that for them. We feel so confident in our ability, the ability of our clients to close on their loans, we actually put a guarantee to the sellers.

[00:19:02] If, if they accept our contract, for whatever reason, it doesn't close, we give that seller an extra $5,000 in cash to make sure that we're positioning our families to win because we.

[00:19:16] Alice Lema: Back up. I'm sorry. Can you say that again? The, you give the sellers money.

[00:19:21] Matt Clarke: We guarantee the sellers money as the backup how confident we are.

[00:19:27] Yeah. Now, obviously, if there's, there's something wrong with the collateral, you know, I mean, this is guaranteeing our buyer, does it get, you know, that we're able to execute on our loan, but I think that's 90% of the worry anyway. And that's, that's also, I mean, what's the worst that happens.

[00:19:46] My guy loses his job, that the seller would actually get that money. I think to get offers accepted. It's a really good program for that, but there's no, the collateral could be separate from that.

[00:19:57] Alice Lema: I don't know that any other lender is offering that. Is that correct? Do we know? There aren't many that's pretty strong.

[00:20:06] Matt Clarke: Well, I don't know is if you, if you don't, if you have cash, and you're making cash offers, it's still hard to get your offer accepted. And so we need to position our people as good as cash. And that's what the whole home buyer edge program is engineered to. Do you also have, oh, no, I apologize.

[00:20:29] Guy Giles: But you also have the cash buyers that feel like they're on top of the world. So. You could have this offer from us with a full price offer or a cash offer. That's giving you eight or $10,000 less. So it's actually could look better in a lot of ways than an actual cash offer because we close quick and we know that this person's already fully underwritten. We're just waiting on an appraisal at that point.

[00:20:50] And our appraisal panels fast. I mean, I don't mind paying for a rush if we have to get a loan done quick. So we hear, we hear stories weekly on our conference calls. Loans closing in 10 days, 12 days. And we're, we're ready to go when that contract hits and they're locked in. So they're not worried about their rate either.

[00:21:08] Alice Lema: Wow. That is amazing because that overcomes two of the traumas, the, the transaction. And one is having the buyer's financing fail partway through, and it's traumatic for the buyer too. Sometimes they don't even know. And we have situations with some of the online lenders where that actually happens a lot to the point where our local sellers are jittery about even taking offers from online lenders.

[00:21:35] Matt Clarke: I, the, a house I sold a few times ago, the people buying it used an online lender and it was a day of closing before I found out that they weren't even approved yet. And so, because there's just a lot of, there's a lot of broken promises. There are a lot of empty commitments out there and you just have to be careful.

[00:21:54] You have to work with a local lender that understands your local market that can serve you extremely well. And you have trust and confidence that they're going to position you to win when you buy this real estate.

[00:22:07] Alice Lema: And you're backing it up if you're giving, if you're giving. So is there a, how does Churchill mortgage produce the guarantee? Like what physical demonstrative gesture are you giving sellers?

[00:22:22] Matt Clarke: We affectively guarantee they keep the earnest money of $5,000 if they don't qualify. So most offers if there's financing involved, there is a financing contingency that will allow them to return and earnest money. We actually say you keep $5,000 of the universe money if they don't qualify.

[00:22:48] Alice Lema: Wow, that is so strong and your underwriting fully underwriting the buyers. And that's really, that's the part that the other lenders don't want to do because it costs them time and money that exploratory research. And so the fact that Churchill is willing to do that is amazing.

[00:23:05] Matt Clarke: Well, our people are worth it.

[00:23:08] Alice Lema: Yes. Yes. Cause it is hard. As you know, you just did a transaction. It's hard to be a buyer these days.

[00:23:15] Guy Giles: Well, yeah, our first idea was just to have the real estate agent cover it, but then Matt thought, you know what?

[00:23:29] I'd actually been approached from a company that wanted to give a guarantee that if we didn't close the loan that this the buyer would get to pay or would get their first month free. And I thought, how is that really helping anybody? I mean, only if we failed, do we ever get to do this? I mean, us personally as, as a bank.

[00:23:46] So this is just more of a positive thing and I really do believe it will help get offers accepted. I know if I had the difference in a cash guy, Low balling me a little bit, or somebody, you know, coming in with this, this offer, I would feel a whole lot more comfortable with this.

[00:24:03] Alice Lema: Yeah. Because even a cash person can have bumps along the way. So this is really a good sign of strength from Churchill mortgage. For sure. So let's, let's talk about some of the other opportunities we have to help people through these weird times. Are there any programs if somebody is wanting to buy a house before they sell theirs, do you have any, any ways of dealing with that?

[00:24:34] Matt Clarke: We have some bridge programs and bridge loans that will help people kind of transition from one property and than other recognizing that it may be. They might want to buy a home and find that home or at least start that journey. And if they find one to be able to close before they sell their home, that's always a popular option right now to help people make that transition.

[00:24:56] Guy Giles: Yes. So if you have equity in your primary residence, most people will have right now, for sure. They'll sell that house. They'll use that money for the down payment. Well, we'll tap into the equity of that other house. I had a program similar to this that I, that I love with the local, a local place and they can't do it across state lines.

[00:25:19] We're actually able to do it across state lines. So our people moving here from California, we'll be able to utilize this. Yeah. And then that's huge. And it takes the pressure off of, you know, having to have your house sold just logistically and especially you know, if you're the kind of person that doesn't like a ton of change right now. It just, it gives you, I believe, six months to be able to, you know, get that other house taken care of, but you can just casually buy your house, move in, get rid of the stuff you don't need to. And it doesn't all have to happen on the same day.

[00:25:49] Alice Lema: Well, and it's such a tight market. You know, I, I have this suspicion that we would have more listings on the market if people were not so worried about where they were going to go and feeling that pressure. It's really scary. It's really scary to sell your house like Matt did and not have a place to go. And I think it's holding inventory back don't you?.

[00:26:10] Guy Giles: Well, yeah, there's just as much of a difference in this $5,000 that we're looking at given to the seller. If we can't execute as having a non-contingent offer that you're writing. Also, you could say all day long, I have a house in Santa Barbara. That's going to sell in three days and probably right.

[00:26:25] But it's still a contingent offer and you're not writing a contingent offer with this program. So I think it could be huge and it gives them leg up.

[00:26:39] Matt Clarke: And to your point, a lot of sellers are selling and then asking for 60, 90 days of, of, of staying home. And so that puts buyers in even more of a disadvantage because even if they can get an offer accepted many people won't move out for two to three months because they need the cash from selling their home to buy a new one. So it's just a really odd mix of pressures to open up this real estate market to be way more efficient. And we have to be nimble, as you said, at the front end to be able to navigate through the changing dynamics of the market.

[00:27:16] Alice Lema: The financial Jumanji that we all find yourselves in. I love that express.

[00:27:24] Guy Giles: So you have a locked rate, and you have a non-contingent offer and something to offer the seller. Those were the types of things that I just, I couldn't pass up this company.

[00:27:35] Alice Lema: And how long do you have a long time to how many months was it?

[00:27:38] Guy Giles: It's as far as selling, selling that house that you've pulled the bridge loan. I I'm 99% sure that it's six months. I'm still learning a few things. Cause I'm brand new. Your, your lock is good for 90 days when you, when you do the shopping, talking about. So that's to identify a property. Another thing we do here that I'd never heard of before, once people sign their documents, there that's, as long as our lock has to be good too.

[00:28:03] So if we get the documents out and somebody signed and they're signing in California, I've had it so many times, they said, oh, we need a mobile notary. And now we have to wait for the documents to get back here. Yeah. So, so our lock only has to, has to be good to that day.

[00:28:18] So we're actually not having to do, to charge people to do that. We're also, I don't know if we've, if we've completely finished it yet, but we're, we're going to be able to do all of our, all of our documents online. We're generally right now, we're at we're where we can sign all of the disclosures and then maybe have two or three of them notarized.

[00:28:37] We're set up. And again, I don't know if it's online yet, but it will be within the next few weeks where a zoom call with the notary. Awesome. Yay. Yay for technology. That's awesome. Crazy good. Isn't it? Yeah. In that instance, that sure is. Wow, that's fabulous. So was that did that come out of the COVID I know we only have a few seconds left before the break, but how did that idea come about?

[00:29:02] Just real quick. From both COVID as well as costs. Quite frankly, we know that people want to be able to close and sign their documents without having to drive to a title company. And so with all of the technology available to us, you can have a, a digital notary everything's signed digitally, and that allows you to close or work at home wherever you need to be.

[00:29:21] Convenience is a big factor in this market. Yeah. Wow. So great conversation, Matt Clark guy Giles with Churchill mortgage. We'll be right back with another conversation. Don't go. Well, welcome back to the real estate show. I'm Alice NEMA broker here in beautiful Southern Oregon with John L. Scott real estate.

[00:29:40] Having super exciting conversation with guy Giles and Matt Churchill. I'm sorry, Matt Clark with Churchill mortgage. We have so many things we want to talk about in this last segment. And one of the The things we were talking about during the break was all of the interest rate changes and guy, you want to kind of bring us up to speed about what's going on with all that.

[00:30:00] Yeah. We, we obviously had the fed raise rates this last week by 50 basis points, which was anticipated. The one thing that's kind of good about our market is, or at least what we do is we trade on what are called the mortgage backed securities. So it is separate from the fed, although they both kind of run along parallel lines, inflation determines everything when it comes to borrowing money. When they raised their rates up, we actually, our rates went down on, on Wednesday and it's just this a function of, maybe everybody gets a little bit too prepared, you know, not knowing exactly what the feds going to say. A lot, a lot of times, you know, just the rate isn't the news. The news is what you read behind the lines as far as what's what they anticipate coming.

[00:30:44] think they're full of crap to be perfectly honest with you. They just said we're coming in for a soft landing. We're gonna get quick recession, but the faster we can get into that, the faster we can start recovering from it.

[00:30:53] The fed owns about $9 trillion worth of mortgage backed securities. At the moment they're looking at selling them. I didn't know how much it looks like about maybe 50, $55 billion worth of them. All of this with rates going up, everything with the fed is putting bullets in their gun, because they're basically on empty right now.

[00:31:10] They've, they've, they've done everything they can do, and they're out of control on it. And that's a whole other conversation. I won't get political. I promise you, but, but all that said. We, we should go into a recession. And then I do believe 12 to 15, 17 months. We are to see some of the rates kind of come back.

[00:31:33] That doesn't mean they get ugly, ugly, ugly, you know, worst. I I think protecting your rate in and, and getting it done right now is probably not a bad idea, but. As far as, as far as the markets go, they've, they've raised the rates up. Our rates have been going up for, for a little while now on our end.

[00:31:50] But if you look at the whole thing historically, you know, and it has to help keep me grounded when it comes to this, because I'm the guy that'll jump into bed and she's like, I'm not having this discussion for four hours with you guys. My parents never bought a house under 8% and they did just fine. So she calms me down.

[00:32:06] I go to sleep, wake up the next day and you know, it's going to be all right. So realistically. House is still a very good, very good thing to buy. You have an asset that's compounding every year for that $50,000. You've put into that house. Now you have a $400,000 house it's going up in value. You have tax write.

[00:32:25] Just a whole bunch of positive things to buying a house and with rates up a little bit, or with rates down a little bit, and you know, it's going to be a little wild ride for the next, for, you know, the rest of this year. But I definitely think in Southern Oregon, after having 3,500 houses burned down, we've probably replaced less than 500 of those doors already.

[00:32:43] So there's going to be a demand. And if you find that right. Come in and talk to us, don't go out of your comfort zone. You know, I don't ever want to put you in something that's over your head. If you're just priced out right now, you know, figure out what you're gonna do for a little while, and we'll help you come up with a plan.

[00:32:57] But if we can get you in a house and it's economically feasible, let's do it. And it's never been a bad investment for. Yeah. And you know, it's really a strength of community as well. Home ownership is one of those key pillars in you know, community stability and pride of ownership. It's, it's great for families, if you have little ones.

[00:33:18] So there's a lot of other benefits as well. And if I remember correctly historically, For the most part don't resell don't home prices, still beat inflation during recessions. Isn't there some appreciation still gained historically, even when we have financial troubles except for the crash. Right?

[00:33:43] Well, well, yeah, even during the crash, I had bought my house before that, and I remember thinking $137,000 now, what a fool am I going into debt for? Now it's a house upon the hill I've rented out for, you know, its a half a million dollar house. I'm making money on it every month, you know? And I had that through the big crash and it still, you know, It did average. It went up no matter what. So yes, it's, it's always going to be a good thing in the long run.

[00:34:12] If you're going to try to buy a house right now and flip it in four months, I sent somebody to another lender this week. I'm not going to talk to you about that.

[00:34:20] Alice Lema: too weird anyway. Yeah. They're not doing that.

[00:34:25] Matt Clarke: Buying real estate in this country is still one of the best and most efficient ways of building long-term.

[00:34:33] If you do what Guy said, I'm so glad you said that Guy earlier, if you're priced out of the market, you might just need to wait and work with me to come up with a plan so we can come back in and do it right when you buy real estate the right way with the right strategy and the right plan. It is a very predictable mechanism for building wealth in this country.

[00:34:54] You know, I was thinking when you were talking Guy that when we opened up Churchill mortgages doors in 1992, the average interest rate for a mortgage at that time was about eight and a half percent. You're paying one to two points. Right now you think back in the 2019, 2020 era, when things were going, crazy, rates were down in the threes and the high twos and threes.

[00:35:17] And you know what, now they're back up again, but they're still at historically favorable levels. To where you can purchase real estate, if you do it right at a very efficient way to where you're going to help the appreciation of that home is going to help you build wealth. The big trouble right now is that people get over their skis, just like we have as a country, right.

[00:35:39] Again, when we opened up Churchill mortgage in 1992, I think the national debt to GDP was in the low sixties. Today it's well over a 120. Yeah. And so when you, when you structure your financial existence around debt and you overextend yourself, you become a hostage to interest rates, which is why working with somebody like Guy to do it right is an incredibly important strategy as you go down that home ownership journey.

[00:36:10] Guy Giles: And just like Dave in, in the old days I did it wrong. So I have both perspectives and I can tell you what, I'll help anybody. Yeah. Just, you know, try to get a little bit better financial position because it's a lot more fun place to live.

[00:36:25] Matt Clarke: You know, they say a man with an experience is never at the mercy of a man with an argument. There are a lot of, there are a lot of, there are a lot of people out there that have an argument about how to, how to buy houses and how to use debt, Guy has an experience. And he's learned how to do it the right way. And he's committed to sharing that with other people.

[00:36:46] Alice Lema: Yep. And Guy in Churchill mortgage, you'll take good care of you.

[00:36:48] We only have like a minute and a half left, want to make sure that everybody knows how to get ahold of guy. And any last minute thoughts you two gentlemen want to give to our listeners?

[00:37:00] Guy Giles: Man we just feel super blessed to be able to work in an industry where we can help people. I mean, getting to go to a signing, I don't ever want to go to complete remote signings. Cause that's my favorite part. My whole office is just covered with hundreds of pictures of people that we've closed loans with. Being there. And I it's just, it's, it's just an honor to be able to do this and to work for a guy like Matt, every time I see him, some that he taped, unless he's completely faking those tapes, which he doesn't seem to be. It's just, it's just a good, good guy to follow.

[00:37:32] Matt Clarke: I love the old school word tape. We don't tape things anymore. Guy. They have recorded their digital we're on, we're off of tape.

[00:37:39] Guy Giles: I just got this eight track on E-bay. Are you saying that you're not going to do anything with this?

[00:37:44] Alice Lema: Yeah, we'll put it under glass. So Guy Giles, Churchill mortgage. How do people get ahold of you?

[00:37:49] Guy Giles: That's probably the phone's best. I always answer my cell phone. So if you're buying a house on a Saturday, it still works at 541-944-6987. And we have Spanish speakers in here. We have everybody.

[00:38:01] Alice Lema: Thank you, Guy Giles and Matt Clark. We'll have to have you on again. It was delightful. So happy to have you on board Churchill mortgage. We're thankful to them as a sponsor. We hope you have a beautiful weekend. We'll see you again next week. Bye now. Thank you, Alice. Bye-bye. Thank you. 541-301-7980

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