September 9, 2021

September 16, 2021

Episode #11 of “Unnamed Show”

Episode #11 Of “Unnamed Show" | Lending information, NFL Season week 1 Starts Tonight, Raiders on MNF, Life Is Beautiful Music & Art Festival, and the Hidden Cinema Rooftop Garden.

In this episode Brendan and Jack invite Today’s Guest Joey Ciaglia from Streamline Home Loan to discuss what to know about getting a mortgage, Las Vegas Real Estate Market, Aviators, Our 2 New Listings at 3915 Belhaven St. and 1404 Santa Margarita St. Unit E, NFL Season week 1 Starts Tonight, Raiders on MNF, Life Is Beautiful Music & Art Festival, REO Speedwagon in The Sandbar at Red Rock Resort Casino, and the Hidden Cinema Rooftop Garden. 


Win Aviators tickets

Text: Aviators To: 702-553-1955


Aviators next home games

  • Sept. 9-14 vs the Reno Aces
  • Sept. 10th Fireworks night


Aviators® host intrastate rival Reno Aces in six-game homestand from Thursday-Tuesday, September 9-14 | Aviators

https://atmilb.com/3hi6Qzw


Today’s Guest

Joey Ciaglia

NMLS 1055977

702-213-2000

Real Estate News


Las Vegas house prices cool off during record-breaking run 

https://bit.ly/3BVmety


Monday Market update

https://bit.ly/3tlWCTC


FAQ Blog

Brendan King explains what Weeks of Supply means in the Las Vegas Market

https://bit.ly/3nexo8r


Check out Links below to everything we are talking about


2 New Listings

3915 Belhaven St. | $525,000

  • 4 bed 3 bath 2,318 SqFt

1404 Santa Margarita St. Unit E | $170,000

  • 2 bed 2 bath 1,106 SqFt


Sports news


NFL Season week 1 Starts Tonight

Thursday Night Football: Dallas Cowboys vs. Tampa Bay Buccaneers 

https://bit.ly/3ttwnL1


Raiders on MNF


From Sept Festivals | Life is Beautiful to Punk Rock Bowling, here’s everything you need to know about this month’s many music fests 

  • Lost in Dreams Sept. 4-5
  • Viva Las Vegas Sept. 9-1
  • Big Blues Bender Sept. 9-12
  • Life is Beautiful Sept. 17-20 
  • Punk Rock Bowling Sept. 24-26

Home | Life Is Beautiful Music & Art Festival

https://bit.ly/3nieYDG

Terry Bradshaw restarts Las Vegas Strip stage show

https://bit.ly/38PKsZJ


Gig of REO Speedwagon in The Sandbar at Red Rock Resort Casino & Spa, Las Vegas, NV, Sept. 10, 2021, buy tickets at MyRockShows

https://bit.ly/3E2jRHe


Hidden Cinema Rooftop Garden

https://bit.ly/3yXICQT


Win Aviators tickets

Text: Aviators To: 702-553-1955


Get Market Update Weekly 

Text: Market To: 702-553-1955


For Food and Drink Specials

Text: Dine To: 702-553-1955


Brendan King

S.0171492

Jack Palermo

S.0182508



The Brendan King Group

Office: 702-625-3457

Email: info@kingvegashomes.com

Website: https://www.kingvegashomes.com/


Simply Vegas Real Estate

3042 S Durango

Las Vegas, NV 89117


Youtube: https://www.youtube.com/c/Kingvegashomes

Instagram: @kingvegashomes

Facebook: https://www.facebook.com/kingvegashomes

LinkedIn: https://www.linkedin.com/in/kingvegashomes

Twitter: @kingvegashomes


New Home Site: https://www.showingnew.com/kingvegashomes


This is transcribed (accuracy not guaranteed)

Brendan King (00:13): Hey, what's going on everybody.It's Brendan King from the Brendan King Group at Simply Vegas and this isepisode 11 of The Unnamed Show. Today we are joined by Joey Ciaglia ofStreamline Loans. What's going on Joey?

Joey Ciaglia (00:27): What's going on guys? Always apleasure.

Brendan King (00:29): Yeah, for sure. Nice to haveyou here. Everybody always has loan questions, but before we get to that, ofcourse, as always text Aviators to 702-553-1955, Jack's age, 702-553-1955.Don't forget to text Aviators.

Jack Palermo (00:51): He tries.

Joey Ciaglia (00:51): Wait a minute, wait. Born in1955 or that's the age?

Jack Palermo (00:52): No he's saying I'm 55 yearsold.

Joey Ciaglia (00:54): Oh, okay. Well there's adifference.

Brendan King (00:55): Moving forward, September 9ththrough 14th, don't forget Aviators are back in town and tickets are on salenow. September 10th, post game fireworks show. So if you want to check outfireworks, September 10th this Friday, fireworks show. And of course, Aviatorsare just in general killing it right now. And Reno is in town September 9ththrough 14th. So if you want to check out the Aviators, feel free to textAviators to 702-553-1955, Jack's not 55, I swear.

Jack Palermo (01:33): I'm not 55.

Brendan King (01:33): So...

David (01:35): We're going to be going to thatgame with Dan and Terry, right?

Brendan King (01:37): Yes, we will be there actuallynext Tuesday.

Jack Palermo (01:41): Joey will also be there onTuesday.

Joey Ciaglia (01:42): I'll be there as well.

Brendan King (01:42): Yeah, we just found this out.

Joey Ciaglia (01:44): That's right.

Brendan King (01:44): So, in our little intro here.

Joey Ciaglia (01:45): I'll be serving beers behindthe concession there.

Brendan King (01:49): You'd be a good bartender.

Joey Ciaglia (01:51): Cold beer here.

Jack Palermo (01:51): Yeah, I like it, I like it.

Brendan King (01:53): He's got it down. But yeah,we'll be there on Tuesday. Check out the game. If you haven't been it's aninsane stadium honestly, for minor league. We went from the worst to the best.We had an awful minor league stadium before that had some history, so we'llgive it that, but it was definitely not one of the better. So now we've comearound, and we've got one of the best. While we've got Joey here, before we startrambling about entertainment and sports and drink and all that kind of stuff.Joey, let's get to the serious stuff first.

Jack Palermo (02:24): Tell us about some loans.

Joey Ciaglia (02:25): Let's ramble about mortgages.

Brendan King (02:27): Let's do it.

Joey Ciaglia (02:28): We'll ramble about mortgagesand real estate.

Brendan King (02:29): So what the heck is the currentstatus? I feel like we've, even with clients, we hear people they're like,"I heard I can get a 0.5 interest rate loan." What's the legitimatetoday deal?

Jack Palermo (02:41): Give us the goods.

Brendan King (02:42): As of today.

Joey Ciaglia (02:43): Point five is aggressive, okayit's aggressive. I know we had talked a little bit about 1.99, it is on therate sheet. However, it's very expensive to get that rate. So in this market,every single time when you pencil it out, what we always try to do is priceloans as close to zero as possible. If you can lock in a 30 year fixed interestrate at 2.75 without paying for it, it doesn't really make a whole lot of senseto buy it down to either 2.5 Or 2.375. Because, the amount of time that ittakes to break even on that amount that you're going to buy it down. If yousell, if you refi, you're going to lose that rate and you'll lose the moneythat you put into it.

Brendan King (03:23): I tell clients this all thetime. They need to look at their breakeven spread over time. So if you're goingto pay $5,000 to buy a rate down, and it's going to take you seven years to getyour money back, what's the point?

Joey Ciaglia (03:35): Yeah, exactly. You're nevergoing to get that money back, rates are so good. It was definitely a lot moreprevalent when interest rates were 5% and 6%, and people wanted to get themdown from there. But other than that right now, they're so competitive,Streamline is so competitive. I mean our company, we don't have any fees, foranybody that buys with your Group or anybody that works with Simply Vegas, wedon't charge any fees. What do I mean by fees, processing, underwriting, brokerfees, depending on the company that you're working with any of those fees canbe $795 to $995.

Jack Palermo (04:10): Or higher.

Joey Ciaglia (04:10): You just had one?

Jack Palermo (04:10): Oh, higher.

Brendan King (04:10): We had one that went with youguys where the situation was like $3,000.

Jack Palermo (04:16): Five

Brendan King (04:16): Oh $5,000.

Jack Palermo (04:17): $5,000.

Joey Ciaglia (04:17): Just in-

Jack Palermo (04:18): Origination fee.

Brendan King (04:19): Origination fee.

Joey Ciaglia (04:20): I mean.

Jack Palermo (04:20): It's insane.

Joey Ciaglia (04:21): There's one place that goes,right in the pocket.

Jack Palermo (04:24): Yeah, right.

Joey Ciaglia (04:25): So I think that the philosophyfor our ownership was, by eliminating those fees we're allowing clients to putmoney back into their own pocket. Because really those fees go to pay foroperating expenses, which we have in a mortgage company, staff, people toprocess these loans. But...

Brendan King (04:42): So streamlining.

Joey Ciaglia (04:44): But our company has streamlinedit.

Jack Palermo (04:45): Nice.

Joey Ciaglia  (04:46): And we're doing okay.

Brendan King (04:47): Yeah, but I think that's a goodpoint to make. If you're going to start that way, you're going to stay thatway, since you don't have a choice. If you're going to say, okay we're notgoing to charge these fees, we're not going to do this, we're not going to dothat. You can't then take these extra costs, make the fancy buildings and allthat. Because from day one, you've made that decision.

Joey Ciaglia (05:04): That's right.

Brendan King (05:05): And you guys really have. Likefrom day one, when you guys told us what you had to offer, we were a littleskeptical to be honest.

Joey Ciaglia (05:14): Were you skeptical of me or thebusiness?

Brendan King (05:17): A little bit.

Jack Palermo (05:17): I'll be honest, a little bit.I'm just kidding.

Brendan King (05:19): But, you delivered. Like theactual sheet, the thing is there's one thing when you have the cost sheet, it'sanother thing when you actually close and see the fees. The difference was,what you showed was what we got. And that's huge, like that's huge. So, intoday's market, of course no one's going to hold you to this, this is going tobe online forever of course.

Jack Palermo (05:41): And ever.

Brendan King (05:41): But in today's, what is it,today's September 8th, 9th, 2021. What's the current rate they can expect, in arange?

Joey Ciaglia (05:50): I would say the rate that theycould expect would be anywhere between 2.75 and 2.875 with no buydown. Soliterally, you can lock in at that rate with no lender fees outside of anappraisal of course.

Brendan King (06:02): FHA, VA.

Joey Ciaglia (06:04): FHA is even better. But thething with FHA is, well it's very difficult to get an offer. Well, you guys cantell me that, you're the agents.

Brendan King (06:15): As I said that I got a stomachache.

Joey Ciaglia (06:16): You go in with a pre-approvalletter for an FHA buyer, not to take anything away from an FHA buyer, but itseems that middle of the road price range is just getting completely saturated.

Brendan King (06:28): There's hedge funds buyinghomes.

Joey Ciaglia (06:30): Cash.

Brendan King (06:31): Or cash, $20,000 over, theyhave no chance. Yeah.

Joey Ciaglia (06:34): I think one thing that'sinteresting to mention is that the pricing on a loan at 10% down is actuallybetter than pricing on a loan with 20% down.

Brendan King (06:44): Do explain.

Jack Palermo (06:45): Yeah, please.

Brendan King (06:45): Why would that be?

Jack Palermo (06:46): Yes.

Joey Ciaglia (06:47): Guess why that would be.

Brendan King (06:48): No PMI?

Joey Ciaglia (06:49): Correct. So if a 90% loan tovalue, if the bank is going to charge private mortgage insurance on that loan.

Brendan King (06:56): Yeah, $300.

Joey Ciaglia (06:57): They'll give you a little bitbetter price. It's not like that anymore. I mean our pricing, we have thelowest private mortgage insurance in the business. I've shopped it against, wedon't name the names.

Jack Palermo (07:12): A bunch of people, a bunch ofcompanies.

Joey Ciaglia (07:15): Bell's Fargo, Race Financial, Ishopped it against all of them.

Brendan King (07:18): Rank of America.

Joey Ciaglia (07:19): Yes.

Jack Palermo (07:19): Yes, Rank of America.

Joey Ciaglia (07:21): Why is that? Why is thathappening? You know, because these large lenders are writing mortgage insurancethemselves. So they're offering it at a massive discount.

Brendan King (07:31): I feel like everything'sgetting packaged up. Like, if someone's doing this, this, this, they're alljust kind of like, "Hey, we're going to do all of it. And we're going tosave the consumer money, because the consumer wants to save money."

Joey Ciaglia (07:41): We're going to do it better,that's the whole idea. You know, I just had a client yesterday who, PMI has thestigma to it, right? Everybody hears the word and they're like, "Oh God, Idon't want PMI on my loan." But when you sit down and you really run thenumbers and say, "You're buying a house for $400,000, you want to put down$80,000. What if I told you, you could put down $40,000, so put 10% down andyour mortgage insurance is going to be $61 a month."

Jack Palermo (08:08): Wow.

Joey Ciaglia (08:08): Would you rather come in withan extra $40,000 down or not pay $61 a month? Personally, I would rather pay$61 a month.

Jack Palermo (08:17): $61 a month, all day.

Joey Ciaglia (08:17): And keep my $40,000 in thebank.

Brendan King (08:19): Yeah. And make money in otherplaces.

Joey Ciaglia (08:21): Correct?

Brendan King (08:21): Like that's the other thing,it's opportunity cost. If your opportunity cost is better in the home, or ifyou've got cash, let's say you're buying a home maybe at a deal, which justdoesn't really exist. But maybe a home that needs work, let's say it that way.You're not paying the premium, you're paying the spread that's on the lowerend. You can take that other 10% and fix the house up, if you actually have it.But if you don't have it, you're also still able to get in a home at 10% andonly pay $61.

Joey Ciaglia (08:48): Exactly.

Brendan King (08:48): That's crazy. And on jumbos,let's bring up jumbos, we've got a lot of higher end clients. What is thecurrent rate for a jumbo? And can you not pay PMI on a 10% down? I know theanswer already, that's why I prefaced it that way.

Joey Ciaglia (09:03): You got excited about that.

Brendan King (09:03): Can you not pay PMI on a 10%down loan with a jumbo, and explain what a jumbo is?

Joey Ciaglia (09:10): So the answer is yes. So, thedefinition of a jumbo mortgage is any loan amount above $548,250. So anytimeyou go above that number, you're considered jumbo realm of financing. Well whatdoes jumbo really mean? Jumbo means that it's a different set of investors thatare purchasing these loans in the secondary market. What does that mean? Thatmeans that they play by a different set of rules than Fannie Mae and FreddieMac. So Fannie Mae and Freddie Mac have the same guidelines across the board,no matter what broker you're working with.

Brendan King (09:45): And they're a huge chunk of theactual mortgage market.

Joey Ciaglia (09:47): Huge. I don't know exactly howmuch but big.

Brendan King (09:50): They're huge, yeah. Let's sayhuge. Huge.

Jack Palermo (09:52): Or jumbo.

Brendan King (09:54): Jumbo.

Joey Ciaglia (09:54): They're a jumbo?

Jack Palermo (09:54): They're a jumbo, yeah.

Joey Ciaglia (09:56): And so that was kind of thechallenge with a lot of these investors after COVID. Coming back, jumbo wasprobably the last program that we got added in the mix.

Brendan King (10:06): Yeah, I remember that.

Joey Ciaglia (10:07): When programs started to comeback, you remember you heard the term overlay?

Brendan King (10:10): Yeah.

Joey Ciaglia (10:10) So that is, overlay is kind of afancy way of saying

Brendan King (10:14): Give me some more documents.

Joey Ciaglia (10:16): Yes. We're going to put thisoverlay on this particular file because of COVID. And everything really justrelates back to COVID and the challenges that it brought for people that notonly were W2 salaried workers, but more specifically self-employed 1099. Theyprobably took the brunt of the COVID effects.

Brendan King (10:36): Yeah.

Jack Palermo (10:36): Sure.

Brendan King (10:36): We've got a lot of clients thatare entertainers who were 1099 employees, or were W2 that now went to 1099, andthat seems to complicate things a bit because they had maybe a $100,000 a yearfor two years and now they switch from a W2 to a 1099. If I were to walk intoyour office and say, "Hey, can I get a loan?" And I'd just started anew job with a 1099 for three months. What would you say?

Joey Ciaglia (11:05): Unfortunately, I'd have to tellyou no. Anytime you go from W2 salary to 1099, you must have a two year historyof earning 1099 income before you can apply for a mortgage.

Brendan King (11:16): And that's a two year tax?

Joey Ciaglia (11:18): You could apply. It just mightnot go anywhere

Brendan King (11:19): To your tax history, so Januaryto December? Or is that a two year from start to finish?

Joey Ciaglia (11:25): So you need two years of 1099s.So, that's a really good question by the way. So if you have two years of1099s, but you haven't filed your 2020 returns, you can still qualify as longas you have two years of 1099s. It doesn't have to be filed yet in their taxes.

Brendan King (11:39): But if they have two returnsthey're probably okay. Right?

Joey Ciaglia (11:42): They're fine.

Brendan King (11:42): Yeah.

Jack Palermo (11:42): Okay.

Joey Ciaglia (11:42): They're fine. And just goingback to your jumbo question there. So interest rates for jumbo, the sweet spotfor a jumbo purchase is 20% down. If you put 20% down, I do quite a few jumbos,there's a big producing agent at our office that gratefully sends me quite abit. But I just did one for 2.75, and that was over 2 million.

Brendan King (12:08): Does his name rhyme with Ravin?

Joey Ciaglia (12:10): Yes, it does. And so 2.75, I'dsay 2.9 is probably more of the sweet spot there. We do have a 90%, it'sactually not 90%, it's 89.99. And the reason I know that is because I've triedto put it in the calculator so many times, I'm like why is this not working,because it's 89.99. And that price is out at about 3.625 with no mortgageinsurance.

Brendan King (12:36): Okay. So the difference ispretty significant interest rate wise. If you've got cash, it may be more worthit to put 20% down on a jumbo.

Joey Ciaglia (12:45): I definitely think it is.

Brendan King (12:46): Than it is to do a 10%, unlessyou're doing work on a home, you want to improve it. And you've got some moneythat you have to use. Yeah, that makes sense. But still Jesus, that's a jumbo.

Jack Palermo (12:57): It's crazy.

Brendan King (12:58): So I think rounding all thatup, first of all rates are insane. They're still insane. Everyone hears rumorsthat they're coming up and all that, they've pretty much just kind of stayedwhere they are. If you're getting a jumbo loan, the rates are under 3% ifyou're putting 10%, a little over 3% if you're putting 20%, or the other wayaround.

Joey Ciaglia (13:20): The other way around.

Brendan King (13:22): High twos, if you're putting10%, the other way around.

Jack Palermo (13:27):] No, the other way aroundagain. He should just stop talking. Joey, can you explain this to us? BecauseBrendan cannot.

Brendan King (13:34): So anyway, in the threes ifyou're putting 10% down, in the twos if you're putting 20% down, I'm totallykidding.

Jack Palermo (13:42): Even better.

Brendan King (13:43): But either way, it's justridiculous. Like when we put things into perspective, my dad bought his firsthouse at 17%. It's just insane. So either way, if you need help with lending, Ithink in all ways, Joey's the guy to call. He understands the market. Whetherit's jumbo, not jumbo, honestly his team, it's not just Joey, he's got a fullteam behind him. But you're still going to talk to Joey in the process, you'renot going to get somebody else on the phone. Joey will absolutely help you. WhyStreamline? That's probably my last question, lending related.

Joey Ciaglia (14:20): Well, the first reason isbecause I'm there, you know that's the best reason.

Jack Palermo (14:24): 100%.

Joey Ciaglia (14:24): Why Streamline? Great question.I can't say enough good things about these guys. I came on board, it's been twoyears, everything that they said they were going to do, they've done.

Brendan King (14:34): And you were kicking andscreaming at first.

Joey Ciaglia (14:36): I was kicking and screaming atfirst, but who likes change, right?

Brendan King (14:38): Yeah, I hate change, yeah.

Joey Ciaglia (14:39): You get in a flow. You get in arhythm.

Brendan King (14:40): They were begging you, I rememberit yeah.

Joey Ciaglia (14:43): Gavin says he begged, he didn'tthough. He made one call. I said, "Okay, all right, I'll give it ashot."

Jack Palermo (14:49): Or Ravin.

Joey Ciaglia (14:49): But it was the best decision Iever made. These guy, they do a great job. They're growing extremely rapidly. Imean, they've opened...

Brendan King (14:56): And Jonathan's brilliant,honestly.

Joey Ciaglia (14:59): Jonathan's great, man. He'slike the Godfather walking around that place. But the amount of resourcesthey've brought in to not only help us close our business, but to grow ourbusiness has been significant. We have, I'm 21 years in the business, and ourprocessing team is arguably the best I've ever seen. They from start to finish,our files run very smoothly. We close a lot of deals for you guys and very,very rarely do we miss, unless there's some circumstances you can't control.

Brendan King (15:32): It's usually not your fault,yeah.

Joey Ciaglia (15:35): But I'm really excited to seewhat these guys do over the next two years, because it seems like they'realways making some sort of change to make Streamline better, bigger, faster.The technology that we're bringing on is incredible. And we have greatrelationships with our investors. You know, I close a lot of volume and withvolume comes perks, if you will. I get pricing breaks, I've got direct lines tounderwriting supervisors.

Brendan King (16:05): I heard the words from youbefore, "I don't know if I can do this, but let me see what I can do foryou." And then you call me back and say, "Yes, we can do it."

Joey Ciaglia (16:12): Sometimes you got to make thephone call, right? Vet it out.

Brendan King (16:14): To the Godfather.

Joey Ciaglia (16:15): But that's one thing, I'm verycareful with my pre-quals. You know, you've got a client right now. Thatlisten, I take it very serious when you guys send us a lead, that the worstthing on earth that we could do is put somebody in the car that can't buy.Right? And granted things can always happen, the business isn't perfect, we tryour best, but we try to eliminate those risks. But when you have self-employedpeople 1099, the way they file.

Brendan King (16:41): We're working on one of thoseright now.

Joey Ciaglia (16:43): We are, yeah. And it's a realfine line that can go either way at the drop of a hat. So we always take ourtime and try to do our best.

Brendan King (16:51): And just so everybody knows. Iknow a lot of times people say, "Oh, these lenders are being a pain. Theselenders they're asking for things that are ridiculous." They're not askingfor anything they want to ask you for. They're actually told to ask for thesethings because they have no choice. So when it comes down to like a lenderasking for documentation, just know that they have no choice, the underwritersare the godfathers really. And they're just doing what they're told.

Joey Ciaglia (17:17): They are, we spend half of ourtime negotiating conditions. Because if we go to a client, it's because weabsolutely have to, there's no way to get around it. But most of the time I cannegotiate with them and say, you've already got this in the file. This could beapplied towards that condition. Let's clear that one and get it off. And Ithink that's what makes us pretty effective, is where we try to keep our touchpoints with the client to a minimum.

Brendan King (17:41): Yeah, no. And we do the samewith real estate as well. And speaking of real estate, we did see an article inthe review journal recently saying the Las Vegas house prices cool off duringrecord breaking run.

Jack Palermo (17:55): Do you know what's crazy aboutthat Brendan?

Brendan King (17:56): What's that?

Jack Palermo (17:58): Is basically with the inventoryand everything, it is so low. It basically means to me and maybe to you andanybody else instead of 15 offers on every property you're getting about 10.That's a cooling off situation.

Brendan King (18:12): Like we put on two listingsyesterday and both have had, I think Caroline's has had 18 showings, yours? Ikeep getting alerts.

Jack Palermo (18:20): I've had 26 showings.

Brendan King (18:22): My phone has gone off fourtimes while we're shooting.

Jack Palermo (18:24): I put it on at two o'clockyesterday and I now am in a multiple offer situation. And it's still goingcrazy.

Brendan King (18:32): And I looked at our currentseven listings. All of them were within one and 15 days. So, it's cooling off,meaning we're not getting 27 offers, but the inventory is still so low thathonestly it's still a sellers market.

Jack Palermo (18:48): It's very much a sellersmarket.

Joey Ciaglia (18:50): A bet you lot of that has to dowith just frustration, right? From clients who are kind of giving up so tospeak.

Brendan King (18:55): I think they were, and nowthey're finding they have more options. I think it's kind of good for everybodyright now.

Jack Palermo (19:00): And for this article to comeout after Labor Day weekend, people are out of town for Labor Day weekend.

Joey Ciaglia (19:06): Kids are back to school.

Jack Palermo (19:08): The timing's kind of perfect.

Jack Palermo (19:09): Right, right. So is it reallycooling?

Brendan King (19:10): So we went up to 5.3 weeks atone point or whatever it was three weeks ago. Now we're back down to 2.9 weeksof inventory. So I think that's probably what they're talking about. And ofcourse, if you're interested every week in knowing what the current marketupdate is, every Monday we do put that out and you can go to our website. Or ofcourse you can get our texts, which we'll talk about at the end of the show.But every Monday we do talk about the current numbers in the market, theinventory, days on market, lots of crazy data. And then we talk about supply.So there is a new blog post about what the heck is supply. We always say supplyand inventory.

Joey Ciaglia (19:50): I was just going to ask you,because I'm not a realtor. I have a question. What exactly does 2.9 weeks ofinventory mean?

Brendan King (19:56): It means in 2.9 weeks, most ofthe inventory is replenished and new. It means on average, a normal neutralmarket is six months of inventory.

Joey Ciaglia (20:07): Wow.

Brendan King (20:08): Right now we're at 2.9 weeks.

Joey Ciaglia (20:09): So you're saying there's achance.

Brendan King (20:10):] Weeks.

Joey Ciaglia (20:13):] Weeks.

Brendan King (20:14): That's why you're staying inyour current home and you didn't buy the last home you tried to buy.

Joey Ciaglia (20:18): So every time I go on socialmedia, and you know I'm friends with all agents, right? I go on there and everypost says, set a record in this neighborhood, 47 offers, got the highest priceever.

Brendan King (20:29): It means they put the house onthe market.

Joey Ciaglia (20:30): I was going to say, should I beexcited about that, or is that pretty normal?

Brendan King (20:33): It's pretty normal.

Jack Palermo (20:35): It's pretty normal.

Brendan King (20:35): It's just every neighborhoodthere's one home for sale. And like right now we've got one that we're going tostretch the limits on. We just met with the guy today, that's why I was kind ofrunning over here after. The house sold at 475 a year ago, and we're probablygoing to touch the six something range right now a year later. For the factthat it's the only unicorn property in the area that has a giant yard, a pool,all this stuff. And it's a decent house.

Jack Palermo (21:04): It's very nice.

Joey Ciaglia (21:04): Will it appraise?

Brendan King (21:06): Moving on? So appraisal wise,so these are our current listings.

Jack Palermo (21:14): All right. Hey, it's my turn.It's my turn. Brendan has got to shut his mouth right now. I just put on yesterday,this is the one I was just talking about, 1404 Santa Margarita Street, Unit E.It's a condo. It's a two bedroom, two bath condo, looks over the pool. Twoseparate balconies, newly renovated, new flooring, new paint, new cabinets. Itis a diamond in the rough. This is the one I was talking about, multipleoffers, got 26 showings since two o'clock yesterday. It's insane.

Brendan King (21:45): And you know what? Our clientcame to us and said, "Hey, what should I do?" He wanted to do thiscertain price, that was kind of a ridiculous price. We said, "Yes, butyou're going to have to do renovations." So we hooked him up with acontractor, got the guy in there, actually the guy we were talking about before.And the guy went through and improved the property to a point that we felt likehe could get the price he wants. So, that's the kind of advice when you reachthat point. If there's a price you want to meet, you need somebody whounderstands the market and what you need to do and what you need to improve. SoJack had walked in there and said, "Eh, I think you need to improve thefloors. Paint the place, definitely fix some things up."

Jack Palermo (22:22): Fix some things up, for sure.

Brendan King (22:22): The place looks great, and he'sgetting the results that he wants.

Jack Palermo (22:26): My phone won't stop. It's likebuzzing in my back pocket right now, all over this little condo.

Brendan King (22:30): Well originally when he saidthe price, we were like, "Hmm." That was not the case. And thenanother one we have is on Belle Haven street. This is actually Caroline'sproperty. It's on 3915 Bellhaven street, $525,000. Another one that we've justhad endless showings on. Honestly, she's done an amazing job on this home asfar as updates and just character all around.

Joey Ciaglia (22:58): It's beautiful, it's abeautiful house.

Brendan King (22:58): Yeah. Oh, she did such a nicejob. In Spring Valley, 11,000 square foot lot.

Jack Palermo (23:02): The lot's amazing.

Brendan King (23:04): She's got a boat on the side ofthe house, but you could fit like 17 buses. And they used to have a half-pipein the backyard actually. So, it's an amazing home. So any of these currentlistings of course reach out. If you have any questions about them, there is anopen house this Friday 11:00 AM to 3:00 PM and Saturday 10:00 AM to 2:00 PM. Soif you want to just check out in person, then feel free to stop by. We candefinitely show you around and let you know what's going on with the property.Moving on from that.

Jack Palermo (23:33): What have we got? What have wegot?

Brendan King (23:34): We've got some sports.

Jack Palermo (23:35): Oh, look out. Tonight.

Joey Ciaglia (23:36): The Cowboys.

Jack Palermo (23:38): Is the season opener of DallasCowboys with the Tampa Bay Bucks. Dak Prescott is back for the Cowboys, old manTom Brady, 44 years old, the goat.

Joey Ciaglia (23:49): The thing is, he's our age.Wait, wait, wait.

Jack Palermo (23:50): He's going for, wait.

Joey Ciaglia (23:51): Imagine that.

Brendan King (23:53): How old are you? Can you saythis on air?

Joey Ciaglia (23:54): 41.

Brendan King (23:55): I'm 41.

Jack Palermo (23:56): Wow. I'm not 55. I'm going tobe 43 next month, so birthday presents, you can text.

Brendan King (24:01): Literally, Tom Brady is olderthan us and still killing it.

Jack Palermo (24:04): He's 44, and going for hiseighth Super Bowl ring.

Joey Ciaglia (24:08): I don't think he's human. Ireally don't.

Jack Palermo (24:09): My favorite team only has one Super Bowl championship.

Brendan King (24:13): I love to hate the guy.

Jack Palermo (24:14): Chicago Bears.

Brendan King (24:15): Like. That's it.

Joey Ciaglia (24:16): The 85 bears.

Jack Palermo (24:16): Yes, the 85 Bears.

Joey Ciaglia (24:17): Arguably the best team ever toplay the game.

Jack Palermo (24:20): Ever, ever to play the game.

Joey Ciaglia (24:20): Ever.

Jack Palermo (24:21): Thank you, thank you very much.

Joey Ciaglia (24:21): And you want to know the worstpart about the Cowboys?

Brendan King (24:23): I got two Chicago guys, oneither side.

Joey Ciaglia (24:26): So I'm a Bear fan and I'm a fanof anybody playing the Cowboys.

Brendan King (24:29): Yeah, I'll give you that.

Jack Palermo (24:30): And the Packers, and thePackers.

Joey Ciaglia (24:31): I'm a Giants fan.

Jack Palermo (24:32): Anybody plays the Packers too.

Joey Ciaglia (24:33): The biggest torture of my lifewas I had to live in Dallas, in the 90's, through all their Superbowls.

Jack Palermo (24:39): Ouch.

Joey Ciaglia (24:40): That was miserable.

Brendan King (24:42): Wait you lived in Dallas?

Joey Ciaglia (24:43): I did.

Brendan King (24:44): The big D. D alum.

Joey Ciaglia (24:44): I don't really tell peoplethat.

Joey Ciaglia (24:46): Yeah, in Plano. You heard ofPlano?

Brendan King (24:48): Yeah.

Jack Palermo (24:49): Yeah.

Joey Ciaglia (24:49): Went to high school. PlanoWildcats.

Jack Palermo (24:51): Right?

Joey Ciaglia (24:52): Yeah. Sure did.

Jack Palermo (24:53): Wow, interesting. You learnsomething new every day.

Joey Ciaglia (24:56): I know.

Jack Palermo (24:57): Especially with our guests.

Joey Ciaglia (24:58): That's why I hate the Cowboys.

Brendan King (24:58): But more importantly, let'sforget about Tom Brady. The Raiders are playing their first game on Monday,week one.

Jack Palermo (25:06): What?

Brendan King (25:06): Monday night football, so it'sa nighttime game, of course. And you've got an insane view of the strip. Ifyou're going to be there, actually there's tickets available.

Jack Palermo (25:16): There are?

Brendan King (25:16): If you go on game time, I wason there today. You can get like lower area tickets for like $300, $200, whichis a lot of money.

Joey Ciaglia (25:23): Have you been to an eventthere?

Jack Palermo (25:25): Yes, I went to the opening.

Joey Ciaglia (25:26): Beautiful, beautiful stadium.

Brendan King (25:28): No, David and I are the onlytwo just kind of still hold outs. But I actually texted my wife on the wayhere, like 30 minutes ago and said, "Hey, want to go to the Raiders gameon Monday?" So, I don't know if you guys are there or not. I may be thereon Monday.

Jack Palermo (25:42): I will not be there. I willnot.

Brendan King (25:44): But your brother-in-law will.

Jack Palermo (25:45): Yes, he will. And my sisteractually.

Brendan King (25:48): But, oh my God, if you haven'tseen the stadium, I haven't been there yet, but literally through everybodyelse's eyes.

Jack Palermo (25:53): But wait a minute. This is whatit looked like last year. This year, it's going to look like this, fans. Holycow, there's going to be fans there.

Brendan King (26:00): Actually, in the backgroundthere too is the glass that opens up, and that glass opens up to the strip. Soif you look in the back by this giant flame, sort of a flame right?

Jack Palermo (26:09): That is the eternal flame of AlDavis, yes?

Brendan King (26:12): The eternal flame of MarkDavis's hair.

Jack Palermo (26:16): Yeah. Yeah. Or that.

Brendan King (26:17): Yeah. So...

Joey Ciaglia (26:18): They have some cool loungesthere too.

Jack Palermo (26:20): Yeah, it's really neat.

Joey Ciaglia (26:21): They actually do mixedcocktails at the bar, they're delicious. Jack Daniels has a lounge in therewhich is pretty cool.

Jack Palermo (26:27): Modelo has that cool loungetoo.

Brendan King (26:28): The thing is Vegas does itright. If you look at T-Mobile arena, like the whole section, was it JackDaniels section?

Jack Palermo (26:35): We're in a nightclub, we're ina nightclub.

Joey Ciaglia (26:36): I trying to remember the nameof the signature cocktail and I can't remember it, but it's delicious.

Brendan King (26:40): But just Vegas. Amazing, Raiderstadium is just incredible. So, and then of course there is a Raiders Tavern& Grill at the M resort. It's kind of the quintessential Raidersheadquarters, until somebody else builds another one.

Jack Palermo (26:57): Closer to the stadium.

Brendan King (26:59): Closer to the stadium. But itis honestly, I think the only official current Raiders bar. Check it out, ofcourse on Monday, if you want the like official spot to watch the game.

Jack Palermo (27:12): I can also bring up Tastes ofChicago again, because it's a Chicago bar, but we talked about that already.

Brendan King (27:16): Have you been there yet?

Jack Palermo (27:17): What Amore?

Jack Palermo (27:19): Yeah. They remodeled it. Didyou see it?

Brendan King (27:20): Yeah, I probably eat there sixtimes a week.

Jack Palermo (27:22): Look's great. Oh yeah, it'sright down the street from the office.

Joey Ciaglia (27:23): Yeah, they've put the big TVsin.

Jack Palermo (27:25): Oh, it looks great.

Joey Ciaglia (27:25): Yeah, it's great.

Jack Palermo (27:26): Looks great.

Joey Ciaglia (27:27): Chicago pizza, great spot.

Brendan King (27:29): Again, Chicago, not Chicago.

Joey Ciaglia (27:30): I don't know though.

Jack Palermo (27:31): We always steer back to Chicagoat some point.

Joey Ciaglia (27:34): That Raider bar looked prettynice at M resort.

Brendan King (27:35): It's nice.

Jack Palermo (27:36): No, it's really nice, it'sreally nice.

Joey Ciaglia (27:38): I've been to some Raider barsin Oakland before they moved, and let's hope that that doesn't look like someof those bars.

Brendan King (27:44): Well, you know what? That's agood point. This is a good point. Because when I heard we were getting theRaiders, that was one fear I had, was my thought of what a Raider fan lookslike. And I feel like over time, I'm going that direction. But I wonder if thatwhole Gridiron thing and the...

Jack Palermo (28:06): The Black Hole.

Brendan King (28:07): The End Zone, the Black Hole.

Jack Palermo (28:08): The Black Hole.

Brendan King (28:08): Like, I don't know.

Joey Ciaglia (28:10): I like the fact that you wantto cheer for the local team, but I can assure you, you do not look like a trueRaiders fan.

Jack Palermo (28:15): He does not.

Joey Ciaglia (28:16):] I can assure you of that.

Jack Palermo (28:19): If he grows his hair like PaulAnka again, maybe.

Brendan King (28:21): Hey, two weeks ago, Joey saidhe needed a haircut right before this.

Joey Ciaglia (28:26): It's coming in.

Jack Palermo (28:28): So all right, ladies andgentlemen, let's switch gears right now. Let's talk about September festivalsgoing on in town. We got Lost in Dreams, which is kind of like an EDC type, EDMmusic at Downtown Las Vegas Event Center, September 4th to the 5th. Viva LasVegas, hot rods, pompadour hair, old school Roadsters at the Orleans, September9th through the 12th. Big Blues Bender, blues music, also a Chicago thing, butdon't say anything, anyway September 9th to the 12th at the Westgates. And ofcourse the big festival that we have every year Downtown, the Life is Beautifulfestival, September 17th through the 20th. Big name X. Also Punk Rock Bowlingat the Downtown Las Vegas Events Center, leather jackets, leather livers,interesting. Check that out too, September events here in lovely Las Vegas.

Brendan King (29:24): Oh, Life is Beautiful. Remindme, do they still do the food experiences as well?

Jack Palermo (29:30): Yes, they do.

Brendan King (29:30): And that's kind of a uniquething I have to admit. It's like food and music and drink.

Joey Ciaglia (29:36): Art.

Jack Palermo (29:36): It's cool. It's a really neatlittle festival down there, well it's big actually.

Brendan King (29:41): Life is beautiful. Eight days,seven hours, 13 minutes, 14 seconds. That was a little earlier today.

Jack Palermo (29:46): It's not too late.

Brendan King (29:46): September 17th throughSeptember 19th.

Jack Palermo (29:49): 20th, 20th.

Brendan King (29:50): It says 19th on it.

Jack Palermo (29:51): Oh 19th, sorry.

Brendan King (29:52): Who is this guy?

Jack Palermo (29:53): I don't know, jumping ahead.

Brendan King (29:55): Billie Eilish, Green Day, andadditional artists. Definitely check it out if you're interested. What am Isaying? Go get tickets.

Jack Palermo (30:05): Green Day, back in high school,jamming.

Brendan King (30:06):Of course, Green Day. Oh my God.That's like junior, senior year for me.

Jack Palermo (30:10):] Love it.

Brendan King (30:11): For all of us at this age, of27 years old.

Jack Palermo (30:15): Ah yes.

Brendan King (30:16): Green Day is a band that weremember quite well.

Jack Palermo (30:19): So anyway, another huge show,biggest show in Vegas is starting soon. Let's see it is Terry Bradshaw.

Joey Ciaglia (30:31): Terry Bradshaw.

Jack Palermo (30:31): Terry Bradshaw has a show inVegas. Okay next.

Brendan King (30:34): I've been waiting all day to dothis one.

Jack Palermo (30:36): No I don't want to talk aboutthis anymore. Next.

Joey Ciaglia (30:38): I've already seen it.

Jack Palermo (30:39): Next.

Joey Ciaglia (30:39): I've already seen it, I was atthe dress rehearsal. I couldn't wait, couldn't wait.

Brendan King (30:43): Terry Bradshaw. So REOSpeedwagon is at Red Rock on Friday. So actually I'll be there. And Jackinvited me to go. And then I found out two days ago that...

Jack Palermo (30:54): I can't get tickets becausethey're sold out. So, Brendan's going with his wife and I'm still trying to gettickets with my wife to go.

Brendan King (31:00): Jack and his wife invited us.

Jack Palermo (31:01):But they're sold out and theaftermarket tickets are a little pricey.

Brendan King (31:04): He waited too long, he waitedtoo long to get tickets.

Joey Ciaglia (31:04): Is Owen Wilson in REOSpeedwagon?

Jack Palermo (31:10): He's right there in the middle.

Brendan King (31:10): It certainly looks like him.

Joey Ciaglia (31:10): Does it not look like him?

Jack Palermo (31:10): It does.

Brendan King (31:12): It totally does.

Joey Ciaglia (31:13): Jack. I got two extra ticketsfor you.

Jack Palermo (31:15): Do you?

Joey Ciaglia (31:15): Back stage pass, everything.

Jack Palermo (31:16): Oh, beautiful. I can go hangout with Owen.

Joey Ciaglia (31:18): You can leave Brendan out inthe crowd.

Jack Palermo (31:19): Go hang out with Owen. Awesome.I like it.

Brendan King (31:21): I'll be at Red Rock anyway.

Jack Palermo (31:23): So something really cool that'sgoing on downtown is the hidden cinema rooftop garden.

Brendan King (31:29): I think David did a back flipwhen he saw this one.

Jack Palermo (31:31): This is pretty cool. It's arooftop theater, where you can actually sit outside and you know, bring yourblankets. You can bring your own food. They do, you know we got a few movieshere, Kingpin, The Beach, Notting Hill et cetera for upcoming. And then they'regoing to do a whole Halloween special.

Brendan King (31:48): Notting Hill is one of myfavorite movies.

Jack Palermo (31:50): The Exorcist is very good onOctober 22nd, anyway. And Christmas showings in December on the rooftop there,it's really kind of cool. You can bring your own food. There's little differentlevels of tickets. You got your picnic blanket, your lounge beanbag chairs. Yougot your beanbag love seat and you know, all sorts of fun stuff. You can alsoorder alcohol there, which is awesome.

Brendan King (32:15): And you can bring your own.

Jack Palermo (32:16): No, you can't bring your ownbooze. You can bring your own food.

Brendan King (32:19): BYOF.

Joey Ciaglia (32:20): Or you can sneak it in.

Jack Palermo (32:22): Don't say anything. Anyway,so...

Joey Ciaglia (32:23): Do they have a honeymoonpackage for you too, for the newlyweds over there?

Jack Palermo (32:27): They should. They should. Thankyou. Thank you for bringing that up.

Joey Ciaglia (32:28): Date night.

Jack Palermo (32:29): Yeah, buddy.

Brendan King (32:30): Yeah, because obviously he'snot going to REO Speedwagon, because he didn't get tickets.

Jack Palermo (32:33): Maybe I'll be at the hiddenrooftop theater.

Brendan King (32:36): So, find Jack this weekend atthe hidden rooftop movie theater.

Jack Palermo (32:39): On Friday we're doing REOSpeedwagon.

Brendan King (32:40): Friday, at seven o'clock

Joey Ciaglia (32:42): Yeah, I do have a questionabout that though, which seems very cool. David probably knows the answer tothis. Where is the hidden rooftop? There's a lot of rooftops downtown.

David (32:51): It's downtown. But if you checkthe link.

Jack Palermo (32:52): Ooh, check the link below andyou can see exactly where it is.

Joey Ciaglia (32:54): Is it like on the rooftop ofone of the bars?

Speaker 6 (32:57): Yeah. One of the downtown...I'm not a hundred percent sure, but it's right off-

Brendan King (33:01): Ooh, stumped him, stumped him.

Jack Palermo (33:02): Well go check out the linkbelow.

Joey Ciaglia (33:04): I think it would be pretty coolto check it out.

Brendan King (33:05): It's hidden so good luck. Orjust click the link and check it out.

Jack Palermo (33:09): Click the link, we'll figure itout.

Joey Ciaglia (33:10): When was the last time you guyslooked at the movie listings?

Jack Palermo (33:13): Oh never.

Brendan King (33:13): Oh Jesus man.

Joey Ciaglia (33:14): Just like Red Rock, you know.

Brendan King (33:15): It's been a while.

Joey Ciaglia (33:15): I don't have kids, so I nevergo to the movies anymore, I miss that. But it's kind of funny because theydidn't make any movies really during COVID. So when you go look at the movielistings now.

Jack Palermo (33:23): Like what is this?

Joey Ciaglia (33:24): They are all like re-releases,like they re-released Psycho. If you want to go see Caddy Shack in the movietheater.

Jack Palermo (33:29): Oh, that's great, I'd go seethat.

Brendan King (33:30): The funny thing is, you justasked me that and I realized I haven't looked in probably a year. Like I haveno idea.

Jack Palermo (33:35): It's been a long time.

Joey Ciaglia (33:36): Well I was having one of thosedays where I was reminiscing about all the fun things that we used to be ableto do before we had children that consume your life after that. We drive by RedRock, and I'm like-

Brendan King (33:45): That's why you redid yourbackyard.

Joey Ciaglia (33:47): Yes. I'm there all the time.Honey, you remember that place over there with the movie theater we actuallyused to go there.

Jack Palermo (33:54): Get popcorn, watch that bigscreen.

Joey Ciaglia (33:56): It's just the simple things.

Brendan King (33:57): I'm about five years past you,maybe six years past you age wise on my kids. So that's why I did my backyardsix years ago.

Joey Ciaglia (34:04): I'm telling you.

Jack Palermo (34:04): Smart man.

Brendan King (34:05): So you've got to put the movietheater in your backyard. So the new hidden movie theater is in the gardens at,no just kidding.

Joey Ciaglia (34:13): The gardens park at 10...

Brendan King (34:16): But of course, in general, ifyou guys have anything you want us to add next time, as far as information oranything like that, let us know. And as always, if you want to text marketevery Monday, we'll give you the market updates.

Jack Palermo (34:29): Get texting for more updates.

Brendan King (34:30): 702-553-1955 text market. Ifyou're looking for-

Jack Palermo (34:36): Food and drink specials.

Brendan King (34:38): Food and drink specials, someconnections that we have with local restaurants, text dine to the same number702-553-1955.

Jack Palermo (34:45): And don't forget, there's onemore thing.

Brendan King (34:47): What's that?

Jack Palermo (34:48): If you want Aviators tickets,text Aviators to 702-553-1955.

Brendan King (34:52): So lots of things to remember,lots of spelling. If you need to refer to the spelling, look at the link, butin general, thank you so much Joey.

Jack Palermo (35:01): Thank you, Joey.

Joey Ciaglia (35:02): Thanks for having me guys.Always a pleasure.

Brendan King (35:04): I did not realize I was in theNew York, New Jersey, Chicago sandwich today, but I did get a Chicago sandwichslash Texas.

Joey Ciaglia (35:13): You're like a deep dish sliceof pizza, right now.

Jack Palermo (35:14): Yeah, I like it.

Brendan King (35:17): That's not even pizza, that'sanother show. So next time on Why New York Pizza is Better. But either way,thank you very much for joining us and we'll see you guys next week. Have agood one.

Jack Palermo (35:26): Have a good one.

 

 

 

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