WEBVTT 1 00:00:00.440 --> 00:00:05.120 You're listening to the John and Heidi Show Bonus Hour. If you miss any 2 00:00:05.160 --> 00:00:09.400 of the program, you can find the podcast at the bottom of the page 3 00:00:09.480 --> 00:00:17.000 at Donny radio dot com. Give yourselfone credit. It's the most wonderful time 4 00:00:17.000 --> 00:00:20.600 of the year that it can also be expensive. Are you still paying for 5 00:00:20.839 --> 00:00:25.120 last year's Christmas gifts? Maybe you need better credit cards. We'd love to 6 00:00:25.160 --> 00:00:28.600 help at better credit cards dot com. Find a card that's a better fit 7 00:00:28.679 --> 00:00:32.600 for your needs. Some like cards with points or miles, Others just want 8 00:00:32.600 --> 00:00:37.719 a lower rate. Find what you're looking for at better credit cards dot com. 9 00:00:41.799 --> 00:00:44.719 Thank you for listening to The John ed Heidi Show on a Monday. 10 00:00:44.799 --> 00:00:47.640 We appreciate you joining us. Coming up here in just a moment, I'm 11 00:00:47.640 --> 00:00:50.560 going to talk to one of the brightest guys I know, but I don't 12 00:00:50.600 --> 00:00:54.479 know many people just kidding. I'm gonna be talking to Brent Baker. I 13 00:00:54.520 --> 00:00:58.039 really do think he's a super bright guy, especially when it comes to real 14 00:00:58.159 --> 00:01:00.799 estate. He's with Keller Williams and Clients First Group. We're gonna have him 15 00:01:00.799 --> 00:01:04.040 sitting in that chair right over there just a moment. Thank you for listening 16 00:01:04.079 --> 00:01:07.519 to The John and Heidi Show. On a Monday. Do you cringe when 17 00:01:07.560 --> 00:01:11.719 you get your mobile phone bill? Mint Mobile can help just fifteen dollars a 18 00:01:11.760 --> 00:01:17.560 month for premium wireless give your family am intervention. Mint Mobile makes it easy 19 00:01:17.560 --> 00:01:19.400 to switch, get a new phone, or bring your current phone to mint 20 00:01:19.400 --> 00:01:23.480 Mobile. At intervention dot com you can see the current special offers for mint 21 00:01:23.480 --> 00:01:29.079 Mobile, offering premium wireless for just fifteen dollars a month. That is far 22 00:01:29.200 --> 00:01:33.280 less than most people are paying just fifteen dollars a month. Learn more now 23 00:01:33.439 --> 00:01:38.319 at mintervention dot com. That's mintervention dot com. Thank you for listening to 24 00:01:38.359 --> 00:01:41.680 the John and Heidi Show on a Monday. I have. It's not Heidi, 25 00:01:41.760 --> 00:01:44.040 it's Brent Baker joining me right now. How are you, sir? 26 00:01:44.239 --> 00:01:48.640 I am fantastic. I love it that winter is getting shorter every day. 27 00:01:48.840 --> 00:01:52.560 Wasn't that cool? It was like, we're like halfway through December and we 28 00:01:52.599 --> 00:01:57.280 still officially haven't had like major major winter stuff. So now we say that 29 00:01:57.319 --> 00:02:00.200 we'll get like blizzarded in or something. So we're gonna blame you for jinks. 30 00:02:01.319 --> 00:02:07.200 So we're going to talk about some realatuor terminology, because there are things 31 00:02:07.239 --> 00:02:09.840 that you know, some people know, like business lingo and they know these 32 00:02:09.879 --> 00:02:13.400 things and other people don't. But then they'll hear it and they're like, 33 00:02:13.400 --> 00:02:15.439 what does that mean? What is escrow? What is this? What is 34 00:02:15.479 --> 00:02:16.560 that? And I don't know if escro is one of those, but there's 35 00:02:16.599 --> 00:02:20.639 a whole list of these and you're going to go through and kind of make 36 00:02:20.680 --> 00:02:23.919 us all smarter. Right now, Well, that's the intent is to educate, 37 00:02:23.319 --> 00:02:27.599 So we're going to start. Is it alphabetical? It is alphabetic, 38 00:02:28.039 --> 00:02:30.000 start with a's. So some of it may not apply to a lot of 39 00:02:30.000 --> 00:02:35.439 people, but some of it is almost in every transaction, So we want 40 00:02:35.479 --> 00:02:38.960 people to know kind of what they're dealing with. Very nice. The first 41 00:02:38.960 --> 00:02:45.080 one is on this list is accessory dwelling unit too. What is that? 42 00:02:45.800 --> 00:02:50.879 It's essentially the mother in law's apartment or home in your backyard type of thing, 43 00:02:51.039 --> 00:02:53.919 so like if you've got a space that you lease to somebody or just 44 00:02:53.120 --> 00:02:59.360 let somebody stay there. Correct. So in my family, my dad's sisters, 45 00:02:59.520 --> 00:03:04.479 one of my aunts lived in an apartment attached to the garage, so 46 00:03:04.520 --> 00:03:08.120 that would be an accessory dwelling unit. It was just a separate space, 47 00:03:08.840 --> 00:03:13.719 so kind of like a guesthouse essentially, that's what it is. Yep, 48 00:03:13.759 --> 00:03:17.520 you have your own bathroom, bedroom, kitchen, nice but attached to or 49 00:03:17.560 --> 00:03:23.639 a part of your primary property. Very cool. Active contingent. So when 50 00:03:23.759 --> 00:03:27.719 you hear the term active contingent, we are no longer completely for sale. 51 00:03:27.840 --> 00:03:32.240 And when I say completely, an active listing means anybody can come little active 52 00:03:32.400 --> 00:03:37.800 and write an offer. Once it's contingent, it's contingent upond and that can 53 00:03:37.840 --> 00:03:44.000 be various factors. Could be home inspection, could be particular terms of the 54 00:03:44.120 --> 00:03:47.919 contract, say for financing or so forth. But there's a variety of terms, 55 00:03:47.960 --> 00:03:53.960 but it is under contract with contingencies. An addendum is just a name 56 00:03:53.000 --> 00:03:59.159 for a document, and on the addendums sometimes you have the requests for inspections 57 00:03:59.840 --> 00:04:03.719 or or change in a legal description. There's a variety of things that the 58 00:04:03.759 --> 00:04:11.719 addendum can address. Adjustable rate mortgage still available product. We don't hear as 59 00:04:11.879 --> 00:04:15.439 much about them, but you have a fixed rate for a certain length of 60 00:04:15.479 --> 00:04:17.759 time and then it's going to adjust. So they're usually a year at a 61 00:04:17.800 --> 00:04:21.560 time, but sometimes it's based on the market and so you can move up 62 00:04:21.560 --> 00:04:28.600 and down with the market. Amateur amateurization easy for you to say, yeah, 63 00:04:28.800 --> 00:04:31.319 very easy. I've seen the word before, amateurization. I don't know 64 00:04:31.360 --> 00:04:34.720 what that means. It's nothing about amateurs. It's something different, Yeah, 65 00:04:34.800 --> 00:04:40.040 completely different. So when you get a mortgage, your payments are spread out 66 00:04:40.120 --> 00:04:46.079 over a number of years, okay, and so that's called an amateurization schedule. 67 00:04:46.319 --> 00:04:51.279 And so sometimes you're buying a home and you might have a five year 68 00:04:51.360 --> 00:04:55.959 loan that you have to pay off in five years, but you might have 69 00:04:56.079 --> 00:05:00.120 a twenty year amateurization on that. And so obviously not everybody can pay the 70 00:05:00.120 --> 00:05:05.279 full amount upfront. Appraisal. If you are financing, you are probably going 71 00:05:05.360 --> 00:05:12.680 to be required to have an appraisal. And so appraisers are licensed and they 72 00:05:12.680 --> 00:05:16.560 have all their little formulas and comparison data that they have to work through for 73 00:05:16.800 --> 00:05:20.120 like properties. So if you're buying a three bedroom, three bath, three 74 00:05:20.120 --> 00:05:26.279 stall home in a certain neighborhood, they are looking for comparable sales homes like 75 00:05:26.360 --> 00:05:30.600 that one, homes as similar as possible within recent sales history to come up 76 00:05:30.600 --> 00:05:34.920 with a fair market value for the home you are buying. Nice, that's 77 00:05:34.920 --> 00:05:38.800 why they compare it with homes that are similar rather than well, this mansion 78 00:05:38.879 --> 00:05:42.079 up the road sold for that much more, why is my not doing that? 79 00:05:42.319 --> 00:05:44.800 Well, yeah, yeah, you don't have all those things, John, 80 00:05:46.480 --> 00:05:50.600 Yeah, you don't have the luxury pool and the master suite that's bigger 81 00:05:50.600 --> 00:05:57.120 than my entire house. Yeah, as is where is just what it sounds 82 00:05:57.199 --> 00:06:00.560 like. I've seen that before, So that's pretty simple, is where is 83 00:06:00.920 --> 00:06:03.720 correct? So you buy a used vehicle, they're not going to guarantee it. 84 00:06:03.920 --> 00:06:06.439 Yeah, you take it home. You have a problem, you fix 85 00:06:06.519 --> 00:06:12.199 it. Same for homes. And every once in a while somebody will ask 86 00:06:12.879 --> 00:06:16.199 why. Well, it might be that the family has no money, they 87 00:06:16.240 --> 00:06:20.120 can't afford to make repairs. It's in the state, the estate has no 88 00:06:20.199 --> 00:06:26.959 money to make repairs. Yeah, and so quite often it's economically driven. 89 00:06:27.879 --> 00:06:32.120 Sometimes it is they are just not interested in doing it, by the way 90 00:06:32.160 --> 00:06:36.720 it is, or somebody else will exactly. If you don't, somebody will 91 00:06:38.759 --> 00:06:43.240 probably a flipper exactly that's what you're looking for it. I think this would 92 00:06:43.279 --> 00:06:45.959 be a very good place to take a break, and we'll come back next 93 00:06:45.959 --> 00:06:47.839 week and we'll work our way through the list. Brent. If somebody would 94 00:06:47.879 --> 00:06:49.759 like to reach out to you this week, what is the best way to 95 00:06:49.800 --> 00:06:54.920 get a hold of you. You can find me at Brent Baker at kW 96 00:06:55.079 --> 00:07:02.199 dot com or my number is six zero five zero zero two nine seven. 97 00:07:02.560 --> 00:07:08.600 Very nice. You can also find him online at clients First group dot com. 98 00:07:08.879 --> 00:07:14.639 Give yourself credit. It's the most wonderful time of the year that it 99 00:07:14.639 --> 00:07:18.199 can also be expensive. Are you still paying for last year's Christmas gifts? 100 00:07:18.279 --> 00:07:23.199 Maybe you need better credit cards. We'd love to help at Better credit Cards 101 00:07:23.240 --> 00:07:26.920 dot com. Find a card that's a better fit for your needs. Some 102 00:07:27.240 --> 00:07:30.680 like cards with points or miles, Others just want a lower rate. Find 103 00:07:30.759 --> 00:07:36.680 what you're looking for at better credit Cards dot com. Go credit cards. 104 00:07:39.399 --> 00:07:41.759 Time now for this day in Seue Falls History, brought to you by the 105 00:07:41.800 --> 00:07:45.680 Seux Falls Fun Page, West Sue Studios and Sunday ninety three point three. 106 00:07:45.720 --> 00:07:47.839 It was on this day, December eleventh, eighteen eighty eight, after the 107 00:07:47.839 --> 00:07:51.879 completion of the Wilmer and Sue Falls Railroad, one of the biggest citywide parties 108 00:07:51.920 --> 00:07:57.079 ever happened in Sue Falls. Officially, the festivities were in honor of the 109 00:07:57.120 --> 00:08:00.879 President of the Great Northern Railroad, John Hill. However, Hill was unable 110 00:08:00.920 --> 00:08:03.879 to attend, so we went on basically celebrating our good fortune to have two 111 00:08:03.920 --> 00:08:07.959 major railroads coming into Sue Falls. The Omaha Line had already been completed and 112 00:08:09.000 --> 00:08:11.800 in service, connecting Sioux Falls to major markets like Kansas City and Saint Louis, 113 00:08:11.879 --> 00:08:16.839 as well as the Transcontinental Railroad in Omaha. Now the Wilmer and Sioux 114 00:08:16.879 --> 00:08:20.360 Falls connected us to the major stops along the Great Northern Railroad like Chicago, 115 00:08:20.519 --> 00:08:24.120 Milwaukee, Saint Paul, Minneapolis, and Winnipeg. Quite the reach for a 116 00:08:24.160 --> 00:08:28.319 small prairie town in Dakota Territory. This day in Seux Falls history has been 117 00:08:28.319 --> 00:08:31.720 brought to you by the Sux Falls Fun Page, West Sioux Studios and Sunny 118 00:08:31.799 --> 00:08:35.600 ninety three point three. Do you cringe when you get your mobile phone bill? 119 00:08:35.799 --> 00:08:41.039 Mint Mobile can help just fifteen dollars a month for premium wireless, give 120 00:08:41.080 --> 00:08:45.240 your family am intervention. Mint Mobile makes it easy to switch, get a 121 00:08:45.279 --> 00:08:48.759 new phone, or bring your current phone to mint Mobile. At intervention dot 122 00:08:48.759 --> 00:08:52.000 com you can see the current special offers for mint Mobile, offering premium wireless 123 00:08:52.080 --> 00:08:56.919 for just fifteen dollars a month. That is far less than most people are 124 00:08:56.960 --> 00:09:01.039 paying just fifteen dollars a month. Learn more now well at mintervention dot com. 125 00:09:01.039 --> 00:09:05.159 That's mintervention dot com Hey, this episode of The John n. Heidi 126 00:09:05.240 --> 00:09:09.600 Show Bonus Hour is done now. There are times during the Bonus Hour I'll 127 00:09:09.639 --> 00:09:13.200 mention something from a regular program, The John and Heidi Show, which is 128 00:09:13.200 --> 00:09:18.639 syndicated on like three hundred stations around the country. There's actually a podcast for 129 00:09:18.720 --> 00:09:20.399 that as well. So if I mentioned something the you're going, hey, 130 00:09:20.440 --> 00:09:24.000 whatever happened he didn't talk to that person, or this didn't happen. That 131 00:09:24.000 --> 00:09:30.080 didn't happen. You can find that podcast at John and Heidishow dot com. 132 00:09:30.399 --> 00:09:33.080 Thanks for listening to The John and Heidi Show Bonus Hour.