WEBVTT 1 00:00:00.440 --> 00:00:05.040 You're listening to the John and Heidi Show Bonus Hour. If you miss any 2 00:00:05.080 --> 00:00:09.359 of the program, you can find a podcast at the bottom of the page 3 00:00:09.400 --> 00:00:13.240 at Johnny Radio dot com. Thank you for listening to The John and Heidi 4 00:00:13.320 --> 00:00:16.920 Show on a Monday. We are excited for Brent Baker to be joining us 5 00:00:16.920 --> 00:00:19.760 in the studio to be chatting with him about the real estate market in the 6 00:00:19.760 --> 00:00:24.000 Sioux Empire. Also coming up later this hour, we have This Day in 7 00:00:24.000 --> 00:00:26.519 Sioux Falls History, and at the tail end of the hour, it's a 8 00:00:26.559 --> 00:00:29.600 movie Star Monday. We have David Rashki joining us. He's in a new 9 00:00:29.640 --> 00:00:34.200 movie called About My Father, But I remember him from Sledgehammer on TV back 10 00:00:34.280 --> 00:00:36.920 a long long time ago. Hilarious guy and he's been in a ton of 11 00:00:36.960 --> 00:00:38.840 movies. Excited to chat with him. Coming up at the end of this 12 00:00:38.880 --> 00:00:45.799 hour for a movie Star Monday. Yourself. It's more important than ever to 13 00:00:45.840 --> 00:00:49.359 have a better credit card. At better credit cards dot com, we offer 14 00:00:49.399 --> 00:00:53.439 a variety of credit card options to fit your needs. Whether you want a 15 00:00:53.479 --> 00:00:56.679 card to give you cash back or a credit card to help you build your 16 00:00:56.719 --> 00:01:00.880 credit, we probably have it ad Better credit cards dot Com. That's better 17 00:01:00.079 --> 00:01:11.159 credit cards dot Com yourself cards. Thanks for listening to the John and Heidi 18 00:01:11.200 --> 00:01:14.640 Show. Bonus. How we're excited right now? I have Brent Baker joining 19 00:01:14.719 --> 00:01:17.519 us in the studio with Client's First Group and Keller Williams. How are you 20 00:01:17.519 --> 00:01:19.640 sir? I am fantastic today. Always good to have you in here. 21 00:01:19.640 --> 00:01:23.799 And we get to talk about all kinds of fun things that have to do 22 00:01:23.840 --> 00:01:26.159 with real estate. And today I got to talk about a conversation and you 23 00:01:26.239 --> 00:01:30.560 have a little conversation here about condos. And this is something that is fascinating 24 00:01:30.599 --> 00:01:34.239 to me because there was probably a time in my life where I would never 25 00:01:34.280 --> 00:01:37.159 have even considered a condo. The over I get, the more I go, 26 00:01:37.280 --> 00:01:40.519 it would be so nice to have somebody else. It just does all 27 00:01:40.519 --> 00:01:44.719 of this stuff for me. There are some huge benefits to living in a 28 00:01:44.719 --> 00:01:48.040 condo compared to, you know, being the one responsible for all that stuff 29 00:01:48.079 --> 00:01:51.640 on your own, aren't there. Well, that is the attraction to a 30 00:01:51.680 --> 00:01:56.599 condom. I had a family member who lived in a condo for years and 31 00:01:56.640 --> 00:02:00.879 it was great for her. You know, somebody keeps a yardboat. She 32 00:02:00.959 --> 00:02:02.120 never had to go out there and do that, so she could do her 33 00:02:02.159 --> 00:02:07.959 other activities. And for her lifestyle, that was clearly the way to go, 34 00:02:07.240 --> 00:02:10.639 and she didn't have to own a lawn more and back then there were 35 00:02:10.680 --> 00:02:15.360 no electric mowers. Yeah, And so part of this is there's kind of 36 00:02:15.439 --> 00:02:21.560 some shared ownership because you have your piece, but there's other pieces that it's 37 00:02:21.599 --> 00:02:24.280 like an association almost. Is that what you would call it? Correct? 38 00:02:24.479 --> 00:02:30.000 So you own the inside of your walls. The interior you can decorate, 39 00:02:30.159 --> 00:02:36.400 however, and depending on how the structure is designed, you might have common 40 00:02:36.400 --> 00:02:40.879 hallways, common areas. You don't really own anything outside of those walls, 41 00:02:40.879 --> 00:02:46.599 but you do have common areas outside or in the hallways. Some condos literally 42 00:02:46.680 --> 00:02:50.840 you exit right to the outdoors, which is nice because then you have the 43 00:02:50.960 --> 00:02:57.599 feeling of independent living. Yeah, and you know if your entrance is clean, 44 00:02:57.840 --> 00:03:00.919 it's because you kept a clean Yeah. Absolutely. Now, are there 45 00:03:00.080 --> 00:03:05.120 special financing things you have to do when it comes to buying a condo? 46 00:03:05.280 --> 00:03:07.479 Is that the same as buying a house or is it different? There are 47 00:03:07.520 --> 00:03:12.199 some differences there and you have to be aware of those. And so if 48 00:03:12.319 --> 00:03:15.919 you go to your lender and they say, well you're going to be you 49 00:03:15.960 --> 00:03:19.639 know, you're a proof for FHA or VA. Now we have to be 50 00:03:19.719 --> 00:03:25.479 concerned that that facility meets the standards. So there are standards for percentages or 51 00:03:25.560 --> 00:03:31.199 ratios of ownership to renters, and so the banks have to look at these 52 00:03:31.199 --> 00:03:36.599 a little differently. There are some guidelines and in addition to a payment, 53 00:03:36.680 --> 00:03:40.240 if you're buying this and getting a mortgage, sometimes there are like association fees 54 00:03:40.240 --> 00:03:44.400 and things. Is that correct as well? With like a condo, there 55 00:03:44.439 --> 00:03:49.639 are always a homeowners association and that is for maintaining the grounds, the exterior 56 00:03:49.639 --> 00:03:53.759 of the structure and so forth. And you'll find that same thing in townhouses 57 00:03:53.800 --> 00:03:58.879 generally. Okay, And a townhouse is different than a condo or is that 58 00:03:58.919 --> 00:04:01.919 the same? Yeah, they have different legal aspects to them. So when 59 00:04:01.960 --> 00:04:05.719 it comes to the homeowners association fees with the condo, what all it would 60 00:04:05.719 --> 00:04:10.360 be included in that Because we were talking about like maintaining the lawn and shoveling 61 00:04:10.360 --> 00:04:15.800 and that, are there other things too that are covered within correct So in 62 00:04:15.840 --> 00:04:19.839 some of them it is not just the exterior maintenance in the grounds, but 63 00:04:19.959 --> 00:04:28.040 also your garbage. Some condos have swimming pools, so they have the maintenance 64 00:04:28.040 --> 00:04:31.920 of those items. And you also have to look at and say, is 65 00:04:32.000 --> 00:04:39.639 that hway relevant to the facilities. So if it's an older facility, say 66 00:04:39.680 --> 00:04:43.120 it's a thirty or forty year old structure, but the hr way does are 67 00:04:43.120 --> 00:04:48.040 really low, you might be concerned that they're not stocked accumulating enough funds for 68 00:04:48.120 --> 00:04:55.519 maintenance because as a building ages, maintenance is just going to get more expensive, 69 00:04:55.920 --> 00:04:59.000 you know, to maintain the properties. So there have been cases, 70 00:04:59.079 --> 00:05:03.319 not locally for fortunately that I'm aware of, where they were not taking in 71 00:05:03.439 --> 00:05:08.959 enough funds and then a major project came in and now they're too short. 72 00:05:09.720 --> 00:05:14.120 The jump in HWA you know, is would be too much. So wow, 73 00:05:14.680 --> 00:05:17.480 it's important to talk to somebody who is really well versed and say is 74 00:05:17.480 --> 00:05:23.800 this an appropriate HWA fee? Yeah. So when it comes to buying a 75 00:05:23.879 --> 00:05:26.800 home, a lot of the time there are inspections, they're involved. How 76 00:05:26.800 --> 00:05:30.319 does that work when it's something like this where it's a you know, you 77 00:05:30.360 --> 00:05:33.160 don't have the whole thing. Are they just inspecting your unit or the whole 78 00:05:33.240 --> 00:05:38.480 facility? Then, so they're going to inspect the unit, but they will 79 00:05:38.519 --> 00:05:43.160 still make general observations about the exterior the structure. You know, they're not 80 00:05:43.199 --> 00:05:48.040 going to dig into it, so to speak. But home inspector does us 81 00:05:48.040 --> 00:05:51.920 every day, so they know what to look for. Even on the exterior, 82 00:05:51.959 --> 00:05:56.839 that might be a telltale sign. So say all of the decks are 83 00:05:56.959 --> 00:06:01.639 very weathered and maybe looking a little raggedy. Okay, then we need to 84 00:06:01.639 --> 00:06:06.399 start asking questions. Is this on the repair list for the facility in general 85 00:06:06.519 --> 00:06:12.759 or not? And it's well worth the money? And how about insurance when 86 00:06:12.759 --> 00:06:15.120 it comes to buying a home, that's another thing. Make sure you have 87 00:06:15.319 --> 00:06:19.000 homeowner's insurance. But I've heard of a renter's insurance as there, like insurance 88 00:06:19.000 --> 00:06:21.399 for condos as well. I'm assuming there has to be something. I guess 89 00:06:23.040 --> 00:06:27.000 yes, and so that would be also something that's included in the h away. 90 00:06:27.279 --> 00:06:31.560 Is insurance for the exterior of the structure. Does not include the interior 91 00:06:31.639 --> 00:06:36.079 of your unit or your personal property. But that's part of what's included in 92 00:06:36.079 --> 00:06:41.160 your h away. So if somebody listening would like to learn more about this, 93 00:06:41.279 --> 00:06:43.879 maybe they're saying, Hey, I've got a home, I've got all 94 00:06:43.879 --> 00:06:46.240 this space, kids are grown and gone, I don't need all of this 95 00:06:46.360 --> 00:06:49.519 anymore. Maybe it's time for me to move into a condo and let Brent 96 00:06:49.639 --> 00:06:54.040 sell my house and have Brent helped me buy a condo? How do they 97 00:06:54.040 --> 00:06:58.000 get a hold of you? I can be found at six zero five three 98 00:06:58.120 --> 00:07:04.319 one zero zero two seven or Brent Baker at kW dot com. Are there 99 00:07:04.399 --> 00:07:08.319 quite a few condos on the market at any given time or is that something 100 00:07:08.319 --> 00:07:11.720 where there's a limited supply? You know there's a lot of them out there, 101 00:07:11.759 --> 00:07:15.920 but you don't see a lot of them available. Yeah, certain facilities 102 00:07:15.959 --> 00:07:18.319 have a little higher turnover, but they tend to be older, very nice. 103 00:07:18.360 --> 00:07:20.600 If you would like to connect with Brent, you can reach out to 104 00:07:20.639 --> 00:07:25.560 him if you if you missed his number. Clients FirstGroup dot com as the 105 00:07:25.560 --> 00:07:28.240 website as well, and you can always reach out to me and I'll gladly 106 00:07:28.240 --> 00:07:30.759 get you in touch with him. Thanks for listening to the John and Heidi 107 00:07:30.839 --> 00:07:33.160 Show. Did you know you can allocate a percentage of your IRA to physical 108 00:07:33.199 --> 00:07:38.240 gold and silver with a tax free rollover, You can put your IRA back 109 00:07:38.279 --> 00:07:42.720 on the gold standard. Genesis Gold IRA is the only IRA that can hold 110 00:07:42.800 --> 00:07:46.720 physical precious metals. Call now for your free gold and silver report and learn 111 00:07:46.720 --> 00:07:49.480 how to qualify for up to ten thousand dollars in free silver Genesis. Goold 112 00:07:49.519 --> 00:07:54.279 IRA dot com but like to help protect your IRA today with a simple phone 113 00:07:54.279 --> 00:07:58.519 goal. Learn more and get the phone number at Genesis goold IRA dot com. 114 00:07:58.560 --> 00:08:03.319 That's Genesis gold dot com. Time now for this day in Sioux Falls 115 00:08:03.319 --> 00:08:05.240 History, brought to you by the Sioux Falls Fund Page and Sunny ninety three 116 00:08:05.279 --> 00:08:09.519 point three. It was on this day June twenty six, twenty twenty, 117 00:08:09.600 --> 00:08:11.920 the Guy Fieri, popular host from Diners, Drive Ins and Dives on the 118 00:08:11.920 --> 00:08:16.519 Food Network, visited Sioux Falls. He visited and filmed and no less than 119 00:08:16.560 --> 00:08:20.920 five locations around the area, among them Urban Chislick and Labella Ethiopian Restaurant, 120 00:08:20.920 --> 00:08:26.319 which would be included in the January first, twenty twenty one episode South Dakotasmorgus 121 00:08:26.360 --> 00:08:30.240 Board. Also, he stopped by Bread and Circus Sandwich Kitchen that air January 122 00:08:30.240 --> 00:08:33.919 sixth, twenty twenty one, for Spice and Things Up Looks Market air January 123 00:08:33.960 --> 00:08:37.679 twenty ninth, and an episode entitled Savory Meats and a Little Sweet and Daily 124 00:08:37.759 --> 00:08:41.679 Clean Food and Drinks on Ribstickers that aired February twelfth. Guy drove around town 125 00:08:41.759 --> 00:08:46.080 and his iconic red convertible, posing for photos, chatting it up with the 126 00:08:46.120 --> 00:08:48.879 locals, and being an all around awesome guy, all while taking in some 127 00:08:48.919 --> 00:08:50.919 of the best cuisine Sioux Falls has to offer. However, I think so 128 00:08:52.000 --> 00:08:54.799 much told let him know that there's plenty more that he could come back for. 129 00:08:54.960 --> 00:08:58.399 Maybe invite him back for more delicious Sioux Falls food. This day in 130 00:08:58.440 --> 00:09:01.519 Sioux Falls History has been brought to you by the Sue Falls Fund Page at 131 00:09:01.559 --> 00:09:05.440 Sue Falls funpage dot com and Sunny ninety three point three. How much do 132 00:09:05.600 --> 00:09:09.279 you pay for your cell phone every month? If that's more than fifteen bucks, 133 00:09:09.440 --> 00:09:13.720 it's time for a mintervention. 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The price index is expected to show another hot increase 142 00:09:48.960 --> 00:09:52.559 in consumer level inflation and keep the Fed on track to hike rates again. 143 00:09:52.679 --> 00:09:56.759 The question is if the FOEMC will hike by only twenty five basis points or 144 00:09:56.879 --> 00:09:58.720 will it hike another fifty or more. As it is, the market is 145 00:09:58.759 --> 00:10:03.559 only pricing in a single interest rate hike and may be surprised by the data. 146 00:10:03.639 --> 00:10:07.000 This week, the SNP five hundred pulled back and snapped a winning streak, 147 00:10:07.120 --> 00:10:09.200 but is still above the key forty three hundred level, so the near 148 00:10:09.320 --> 00:10:13.320 term uptrend is intact. The index may pull back to forty three hundred before 149 00:10:13.399 --> 00:10:18.000 moving higher, but the stage is set for the updraft to continue even with 150 00:10:18.159 --> 00:10:22.720 hot inflation. 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