Affording a Home in This Market? Wayne Turner Explains How

Real Talk with Real Estate Pro Wayne Turner

Whether you’re a first-time buyer or looking for your next investment, Wayne shares practical advice on credit, financing, finding deals, and building long-term wealth.

📩 Set alerts: Free 7-day trial at Foreclosure.com

📺 More from WayneTurnerTV.com

Get Free Email Alerts: https://www.foreclosure.com/alert/
Find a Foreclosure home: https://www.foreclosure.com/foreclosures/
Affordable Homes: https://www.foreclosure.com/affordable-housing/
Buying Foreclosure Videos: https://www.foreclosure.com/videos/
Foreclosure articles: https://www.foreclosure.com/articles/

Foreclosure.com is America's largest provider of distressed properties, with more than 1.8 million foreclosure, preforeclosure, bankruptcy and tax lien listings across the United States located conveniently in one place. We deliver the latest, most complete residential foreclosure property listings in an easy, accessible format to our customers and business partners. No other Web site or source comes close to providing the same high level of timely and detailed information than Foreclosure.com.

Like us on Facebook: https://www.facebook.com/Foreclosurecom/
Follow us on X (Twitter): https://twitter.com/foreclosure

Transcript

0:00: Welcome. 

 0:01: My name is Tim Jones with Foreclosure.com. 

 0:03: Today, I'm thrilled to introduce our guest speaker, Wayne Turner. 

 0:07: With over 30 years in real estate, he's sold more than 4000 homes. 

 0:12: Wayne is one of the best real estate coaches in the game and has a very successful YouTube channel where he shares his knowledge. 

 0:17: Wayne, thank you for taking the time to join us today. 

 0:20: Thank you, Tim. 

 0:21: It's great to be here. 

 0:22: Yeah, it's always a pleasure to speak with you, my friend. 

 0:26: Thank you. 

 0:26: Before we jump in, can you tell the audience a little bit about your background in real estate? 

 0:30: Yeah, so I, I, I started in real estate when I was 24 years old, and I always tell people that, you know, I, I've always started with real humble beginnings, didn't have a whole lot of money, not a lot, a whole lot of cash, didn't have a college degree, but I had a lot of drive and ambition, and I just wanted to do something, you know, better with life. 

 0:50: For me, real estate was appealing because one, you had the freedom, you had the time. 

 0:56: , you made your own time, made your own schedule, had the freedom, and you can make a lot of money. 

 1:01: You really can make a, a wonderful living. 

 1:04: I've made over $11 million selling real estate in my 29 year career as a real estate agent. 

 1:10: I say that, not bragging, just to let people know that it is a really good lucrative profession that you can get into and it doesn't cost you a whole lot of money to get into. 

 1:21: And if you can connect with the right people. 

 1:24: That I've learned early on after about 2 years in the business, I learned that I needed to connect with some, some key players and that's what propelled me and now I'm doing the same thing for other agents. 

 1:34: So it's been good, very blessed. 

 1:36: Awesome. 

 1:37: That, that's quite the career. 

 1:39: I'm excited to speak with you about today's topic. 

 1:42: So, let's jump in. 

 1:43: So your buyers asking how much house can I afford? 

 1:47: What key financial factors should they evaluate before they start their search? 

 1:53: Yeah, first and foremost, I tell people, you know, there's a difference between being qualified and being approved. 

 1:58: qualified, you talk with a lender, but I always tell people you need to know your credit report, you need to know your, your FICO score because the mortgage companies are gonna pull a trimerge credit report, so they're gonna look at Equifax, TransUnion, and Experian. 

 2:14: They're gonna look at all three of those. 

 2:15: So you need to see what the lender is seeing. 

 2:18: It doesn't matter where you get it from, but you need to, you know, my FICO is, is one that I personally have used over the years. 

 2:25: They do a really good job. 

 2:27: you can do LifeLock, there's a couple of them out there, right? 

 2:30: But I tell people know your credit and then, you know, try to keep your credit score minimum 600 to 620 because you can get an FHA loan if you've got a 600, you know, credit score, 2 years on the job. 

 2:43: , and then they're gonna look at your debt to income ratio. 

 2:47: And I tell folks it doesn't cost you anything to, to talk with a lender on the phone and if you want them to approve you, they can certainly talk with you on the phone to say, hey, you, you, you wouldn't have any problem being approved or there may be something there, but we can still help you, we can counsel or, you know, we can coach with you. 

 3:05: So that's what I tell folks, you know, and at the end of the day, I, I just kind of crunch the numbers with people a little bit and So what, what are you looking, you know, not to sound like we're selling the cars or anything, but at the end of the day you have to look at it like 93% of homes, you know, people buy with, with a mortgage, they get a mortgage. 

 3:23: So it's not so much the price, it's the payment. 

 3:26: So I asked them, what are you comfortable paying, what are you currently paying in, in rent if you're renting right now or your current mortgage payment, what are you paying and You know, how much more could you pay or you're looking to pay less and from there it kind of gives me a, you know, hindsight of, OK, how much money are you looking to put down? 

 3:44: If you're only putting down, you know, 3.5% on the FHA or you're doing a 100% loan on a $300,000 purchase, you know, you know, you can factor in taxes and insurance and all that. 

 3:54: Of course, the big thing is taxes because it varies in some states it's 3%, some states it's, you know, around 1%. 

 4:00: But I always tell people there's a difference between Being qualified and being approved, qualified, you're just talking to somebody, approved, they're fully pulling your debt to income ratio, they're verifying your employment, pulling your credit, make sure you, you know, paid your taxes, that sort of thing. 

 4:16: But what's exciting about that is within, you know, As fast as you can get that information to a lender, if you can, if you get all that stuff and say, look, here's my bank statements, pull my credit, verify my income, here's where I work, here's my supervisor, here's the name, here's the taxes. 

 4:31: If you handed all that to somebody, they can give you an approval letter within 24 hours. 

 4:36: And I tell buyers, when you have an approval letter and they give you the letter and it says approved, it's like having cash. 

 4:41: So when you go to make an offer on a home. 

 4:43: When you have that approval letter, you want to make sure that agent, your agent, has that approval letter. 

 4:48: If they have that approval letter, they're gonna submit it with your offer. 

 4:51: That makes your offer look that much better because when you close and you sign, take ownership, they're getting cash because the lenders's giving them the cash and you're taking out the mortgage to pay over 15 or 30 years. 

 5:07: That makes a lot of sense. 

 5:09: It's very straightforward. 

 5:10: Thank you for sharing that. 

 5:11: So you know, given that interest rates and prices are still relatively high, how do you help your clients find affordable homes in this low inventory market? 

 5:22: Well, I tell people, you know, you always have to look at foreclosures, you have to look at short sales. 

 5:28: foreclosures are a good way because oftentimes what banks are doing now is they'll make improvements to a home because it used to. 

 5:36: And they still do it, don't get me wrong, they still do it where the home is in deplorable condition, but there's a fine line there where some banks will take a property back, they'll put it on the market, and we're seeing that the vast majority of homes that are put on the market for sale, these foreclosures are listed with real estate companies. 

 5:54: Now, what's really cool,, you know what I tell people is, you know, at foreclosure.com, what's really cool is you see a lot of the properties before they're put on the market. 

 6:04: So, you know, it's one of those things where it's like, you know, years ago we had a thing called driving for dollars, so you would drive around and if a house had a sticker in the window, then that means, well, it's been foreclosed on or the electrical meter was not on. 

 6:17: Property, the grass real high, you know, and now you don't have to do that. 

 6:21: You can log into one website, foreclosure.com, pay a small fee, and you have access to every single foreclosure in the country, which is pretty phenomenal. 

 6:29: It just makes the process that much easier and it's a good way to actually purchase a house because if you're looking for affordability. 

 6:38: Oftentimes, foreclosures. 

 6:39: I mean, statistically, it's proven foreclosures sell for less than, of course, brand new homes and just traditional homes being sold by an individual seller. 

 6:51: No, that's, that's helpful. 

 6:52: You kind of have to shift your mentality a little bit. 

 6:55: Think almost like an investor. 

6:57: When you start to think about those, you know, you have to understand that not all of these like if the house is, if it doesn't have a lot of chip paint. 

 7:04: I mean, if it's got carpet and the carpet's in halfway decent condition, it's got appliances in it, you know, it doesn't have to have a refrigerator, you know, if it's got a dishwasher and a stove, dishwasher stove, oven, central heat and air works, then you can get an FHA loan on a foreclosure. 

 7:22: Right, that's, that's great information. 

 7:24: So, and I say FHA, I mean, don't get me wrong, you do conventional with 5% down, which is really important for people to know, but a lot of folks don't have a whole lot of cash. 

 7:33: What we're seeing now in this market as far as affordability is. 

 7:38: They're looking at maybe a 6.5% rate today in the year of 2025, you're looking at around 6.5% rate. 

 7:46: And you know, what, what is really, you know, it's, it's kind of comical that people will get caught up on the 6.5% rate. 

 7:55: It's not so much the rate. 

 7:56: Some people look at that rate and think that's crazy. 

 7:58: I'm not paying that. 

 7:59: I'm like, well, you're renting and you're paying 100%. 

 8:04: Because you get nothing back, like if you're paying $200 a month, you're literally paying $200 a month every single month. 

 8:12: You're not gonna get any of that money back. 

 8:14: So you're doing 93.5% better even if you get a 6% rate. 

 8:19: Now that also said people are like, it doesn't matter the rate, I would buy the house, but the rate is pushing the payment to this, and that's what we're seeing, you know, for it, it's so important. 

 8:32: To know that for 13 years from 2009 to 2022, they never took mortgage interest rates above 5.25%. So you have Some 63% of people that have a mortgage have a 5% or lower rate. 

 8:49: That's why we don't see a whole lot of homes on the market. 

 8:52: So people say, Well, what's the housing market like? 

 8:54: I like it's not a buyer's market, nor a seller's market, because on, on one hand, you don't have a whole lot of people buying in the year 2024 was the lowest. 

 9:04: Home season, home purchasing season since 1995 and 29 years. 

 9:10: And the biggest part of that is because they never raised the interest rates higher than 5.25% until 2022 and then in 2022, from April 2022 until September 2022, the rates doubled. 

 9:26: Yeah. 

 9:27: Yeah, I, I know that put the brakes on the housing market and you had homes that went up in price and went up in price and went up in price. 

 9:34: You buy a half a million dollar home, you put 10% down, that's $50,000. 

 9:39: You got a $4,450,000 mortgage. 

 9:43: If you're in the South, like I'm in Louisiana, and tax rates run about 1% or your taxes are going to be about $4500. 

 9:52: That what that means is when you escrow everything. 

 9:55: And you're putting 10% down, you still have to pay private mortgage insurance, that mortgage insurance that the mortgage company takes out in case you default, but you have to pay that monthly premium, then you're looking at, $4000 a month. 

 10:09: So you have homeowners right now that are in homes, and I tell people, we have homeowners that are in homes and they couldn't afford the home they live in. 

 10:16: And people ask me, well, how's that? 

 10:18: What I don't understand, Wayne. 

 10:19: Well, it's real simple. 

 10:21: If they bought the home for $350 they've lived in it for 5 years. 

 10:26: If they were to sell the home for 450. 

 10:29: Most people don't make a lateral move. 

 10:30: They're going to sell their home for 450, typically to go by 5 or 550. 

 10:35: Well, a lot of people are telling me that they have a mortgage based on 360, 350 at a 3% rate. 

 10:43: So if they were to turn around and buy a house for 450. 

 10:47: At a, at a 6.5% rate, they couldn't afford that paint or they, you know, some people just don't want to pay that pain. 

 10:54: That's why when you, you look around at the country, we're putting houses on the market, the average days on the market, it's about 80 days. 

 11:01: You know, so we're, we're not, and listen, real estate is hyperlocal, and that's what's really important to understand. 

 11:06: When you talk real estate, it, it's, you can say one thing, you can look at the big numbers, but you may be in Boca Raton, Florida, for example, and anything that you put on the market there under $400,000 is sold in a week. 

 11:18: So you just never know. 

 11:21: Very good points and you're, you're seeing that, you know, people are not wanting to move on the property that they're in currently and then at the same time, people that kind of purchased in that, you know, almost, you know, 2021, 22. 

 11:36: A lot of them didn't anticipate the taxes and the, and down here really the insurance, you know, jump in cost and people are having some troubles, you know, so that makes a lot of sense. 

 11:47: So, so with that said, what trends have you noticed in New Orleans, Louisiana housing market? 

 11:53: I mean, we've seen it's, it's, it's slow a little here, you know, just like any other market, it's slow. 

 12:01: average price range is around $350. 

 12:05: the average days on the market is about 75 days on the market. 

 12:10: new construction is running about $200 a square foot. 

 12:14: So it's a brand new home, you know, if it's If it's a 2000 square foot home is gonna run you $400,000 minimum, you know, and there's some track builders that are less expensive than that, but for the most part, we just sold one the other day and it was $405,000 and it was 20, just over 2000 square feet. 

 12:39: I mean it's $200 a square foot. 

 12:41: It's a brand new home, you know, but. 

 12:45: You know, it's $200 a square foot. 

 12:47: That's just pretty much what we're gonna see. 

 12:48: And, and I don't think we'll ever see interest rates at that 3, 4% ever again, you know. 

 12:56: I, I think that a lot of people, if you bought a house, anybody out there listening, you, you can pretty much attest to this, you're probably gonna nod because most people that bought a house. 

 13:06: You know, 56 years ago, you have a minimum of $25,000 equity in your home. 

 13:12: And so a lot of people like the way I couldn't afford that house. 

 13:15: Like I was just talking to people said I can't afford the house. 

 13:18: I'm like, well, let's look at this. 

 13:19: Let's put the pencil to the paper. 

 13:21: How much credit card debt do you have? 

 13:24: Now, here's where it gets touchy because credit card debt is the highest it's ever been in the United States as of 2025. 

 13:32: $33,000 is the average household credit card debt. 

 13:38: However, people are equity rich. 

 13:42: But they're cash strapped. 

 13:44: So they may not have a whole lot of cash to put down on another home, but you have to think about it this way. 

 13:50: If you have a truck that you love, that you've had for 4 or 5 years, And it's a year from being paid off and you owe $9000 on it, but you've been paying $900 a month on that truck payment, right? 

 14:02: And then you've got, say 250 to $26,000 in credit cards, and those credit card payments are run you $1100 a month. 

 14:11: Well, there's $2000 right? 

 14:14: That you're paying every month. 

 14:16: And you're probably paying 20% interest on credit cards. 

 14:19: So something that people need to consider if you do want to move, and I'm not trying to talk anybody into selling a house. 

 14:24: I'm just giving you enough information where you have to process it and think about it, because it would be nice to only have one payment to live in a newer house, even though the rates at 6.5%, because you can sell your house, take your equity that you have because you're equity rich, you may have 4050 $60,000. 

 14:45: What if you had $33,000 in credit card debt, you had $65,000 in equity, you owe $10,000 on a truck note. 

 14:54: You could take that equity. 

 14:56: Pay off all of that, that would free up $2000 a month and then you can be approved for a house. 

 15:02: Now, here's what people need to understand. 

 15:05: If you talk with a lender, you can talk with a lender and get approved and good lenders will say, well, if you didn't have these payments. 

 15:13: If you paid off this balance and you didn't have these payments, this is what you would qualify for. 

 15:19: That's what people need to understand. 

 15:21: You have so many lenders because, for God's sake, people have to understand, they just made it mandatory that mortgage loan officers and lenders had to get a license to give you loans. 

 15:31: I mean, people are like, well, the housing market crashed. 

 15:34: I mean you have to understand, during that whole crash debacle and all the housing crash, all these people that were giving mortgage loans. 

 15:41: They were working out of closets in their homes and they weren't even licensed. 

 15:45: They didn't have to be licensed. 

 15:46: They were just packaging stuff, going to Kinko's, making copies. 

 15:50: Some of that shit got falsified. 

 15:52: It was just sad, you know, but and, and it caused a crash. 

 15:56: But people have to understand, just something that you own. 

 15:59: I got credit, I have debt. 

 16:01: I got a truck payment, a car payment, a boat payment, or whatever it may be. 

 16:05: How much are your payments? 

 16:06: And if those went away, so what a lender will do is say, You're approved for this, if you pay off this with your equity, go find a home, and at the closing, they take your equity and they pull it aside, the closing attorney overnights the payoff on your credit cards, the truck note and then 45 days later, your new payment starts, they hand you the keys to your new house and you get a new house. 

 16:33: And now you have, you, and here's the thing, what's really cool about that is Your house payment may have jumped $1500 or $1000 but if you just cut out $2000 that you're paying and now you're, you've freed up $500 a month and you're in a new house. 

 16:51: So I know a lot of people are like, oh, it sounds all great, you're a real estate broker, that's how you make a living. 

 16:55: It is, it is. 

 16:57: I don't care if you call me or anything, but the, the, it doesn't matter who you call, just do what's best for you, the consumer, the person, and you have to know that at the end of the day, there's a reason why the wealthiest people on the planet buy real estate. 

 17:11: It just makes you money. 

 17:13: Yeah. 

 17:14: That's very helpful. 

 17:15: I, I, I think our audience will get a lot of value out of that. 

 17:19: So thank you, you know, I, I, I get a little passionate with it because I'm like, look at the numbers, look at the money, let's, let's think about it. 

 17:26: He's the thing what a lot of people don't realize, and they've been doing this for decades. 

 17:30: This is how I learned it. 

 17:31: I learned it when I was probably A teen, a teenager and I remember being with my mom and they were selling one house and buying another home. 

 17:43: And I remember them having a conversation about they had a couple of credit cards and such and they wanted to pay those off. 

 17:52: And so what the lender did is they said, well, we're gonna take your equity at the closing and we're gonna pay those off that way you're gonna buy a new house, but you're no longer gonna have these accounts and the best thing you can do is close those accounts. 

 18:07: Now I'm sure banks would disagree because, you know, they. 

 18:12: People have to understand, banks spend more money on marketing and advertising than any other business profession on the planet. 

 18:20: Absolutely, or not. 

 18:21: Like they spend hundreds of millions of dollars each year to advertise because That's how they make a living. 

 18:29: That's what I always tell people, you're, if you get your credit right, get your income right, and you're doing right, don't live, you know, beyond your means, purchase what you, you know, you can live with, stop keeping up with the Joneses, hey, you know, then at the end of the day, and I know it's hard to, you know, everything's gone up, you know, was it a dozen eggs is 6 bucks or something like that, you know, it's been kind of crazy, but if you can live below your means, you know, Then you can certainly get ahead in life, you know, I think a lot of people are starting to realize that, especially as you get older, you know, I'm in my early 50s and as you get older, but I've been there, done that, don't get me wrong. 

 19:07: Lord knows I've spent a whole lot of money trying to keep up with, you know, nice things and cars and clothes and watches and And it's like I deserve that, you know, I deserve that, you know, it's like a trophy, you know, yeah, and I, I can't if somebody said, Wayne, what would you do different? 

 19:23: What would you tell your 24 year old self? 

 19:25: I would say buy as many homes as you can before the age of 34. 

 19:30: Or if you never buy another one, that's fine. 

 19:32: But at 24 years old, if you can work and try to learn and figure out how to purchase, and you do that by buying foreclosures, fixer uppers, estate sales, short sales, bankruptcy sales, whatever it may be, getting good deals, you make your money when you buy, you make your money when you buy. 

 19:48: You have to look at those deals. 

 19:49: But if you can acquire 10 properties before you're 34 and just sit on those properties and do nothing. 

 19:56: You have to understand when you're 64, they're paid off. 

 19:59: When you're 54, they can be paid off, or you can take, you only have 10, they can sell 4, pay the other 6 off. 

 20:06: Now you've got 6 properties that are making $2000 a month in rent. 

 20:12: 12,000 every month. 

 20:15: Like that's why if me telling myself, I would say absolutely buy real estate, buying real estate, and another good one is you gotta look at you can get an FHA loan on a duplex quadruplex. 

 20:28: Or, or, or, or a troplex, right? 

 20:32: You have to live in, you're supposed to live in one side for a year, you can rent out the others, but after one year, you can rent out the side that you've been living in and Go purchase another home with a conventional loan. 

 20:42: You can't have two FHA loans at the same time, but that's an opportunity for people to do that. 

 20:47: And you can do that right now with programs that are available out there. 

 20:50: That's why I tell people if you have any questions, I mean you reach out to us, go to contact Wayne.com, shameless plug, but contact Wayne.com, you know, and, and if you got a 600 credit score, 2 years on the job. 

 21:04: Proof of income, you know, and people ask me, well, Wayne, does it have to be the same line of work? 

 21:08: It has to be the same profession, you know, you can't go from being a school teacher to a CPA, you know, you can't go from being a pipefitter to a fireman, but if you have the same line of work where you've worked at one company for 5 years and you just changed companies, you know, 6 months, a year ago, but it's the same line of work, then they, they look at that as well, you're, you're good, you know. 

 21:30: That's some, that's great advice, financial advice, real estate advice. 

 21:34: So again, thank you for sharing. 

 21:37: so I know you touched on this earlier, but do you see purchasing distressed assets like pre-foreclosures and foreclosures a viable strategy for finding affordable housing? 

 21:50: Yeah, absolutely. 

 21:51: I mean, it's, it's, it's kind of a no-brainer, and one of the things that people have to look at is You, you know, the quickest way to know is, is get that list and you see the list by going to foreclosure.com, as I've mentioned. 

 22:07: Once you have that list, it's fun to ride around and look at those properties because these properties are vacant, nobody's living in, you can get out, walk around, kind of poke around. 

 22:15: Sometimes they're listed with real estate brokers, sometimes they're not. 

 22:17: The best thing you can always do is have an agent working for your corner on your behalf that way. 

 22:23: And, and listen, what's really interesting is All these, you know, once it's listed with a real estate broker, they want you to have an agent because they're, they're literally the instructions and the multiple listing service with the real estate company. 

 22:35: I have your agent, you know. 

 22:37: So you have an agent and a good agent gets, you know, the compensation that that agent's commission paid by the seller, 99% of the time good agents do that, so it didn't cost you anything to have that representation. 

 22:50: And, but you can get some really good deals on houses just by doing a little fix up. 

 22:55: Now, what's really nice is if you even have, if you have cash. 

 22:59: Or you have a means to get some cash or have cash. 

 23:03: I've had people do this. 

 23:04: I've had people say, well, my, my, my parents or my in-laws are gonna loan us the money to buy a property with cash, but then you can buy it with cash, turn around and fix that property up, and then once you fix it up, they can sell you back the property you can get a mortgage on it, you can pay them back and then some. 

 23:20: There's, there's so many different ways to do it, you know. 

 23:23: I tell folks that you, you, even if you just went and got a hard money. 

 23:28: From a hard money lender, you purchased it, and even if you had to pay 15 or 18 or 20%, you have to understand, it's not so much the cost of the money, it's the availability of the money. 

 23:39: So if your ability to get money and, and make improvements, especially if you're willing to do a little work, replace carpet, paint, countertops, paint cabinets, do any, any kind of, you have to know that everything and all this stuff, houses or sticks and bricks, and if somebody put it together, every single property. 

 23:57: You look at that if it's in, you know, deplorable condition, it can still look new. 

 24:01: It once was a brand new place, but it's, it's important to get out, drive around, look at the houses, poke around, look at the windows, and listen, just ask contractors, subcontractors, get to know those people, you know, what does it cost to replace carpet in a home? 

 24:17: What does it cost for painting? 

 24:18: Can you paint yourself? 

 24:19: What about electrician, electric, anything like that to make those improvements, you can certainly get ahead in life. 

 24:26: Like hindsight looking back. 

 24:28: I would have bought a lot more foreclosures because you can buy a foreclosure and if you purchase that, that house that's distressed and then fix it up, you bought it for $80,000 and now it's worth $140,000. 

 24:44: Well, the bank's gonna loan you all day long, 80% of that. 

 24:47: That's how these folks get really wealthy with real estate, you know, and then once you do that two or three times, then you have cash. 

 24:55: So now you're buying it with cash, you're improving it with cash, you buy a $150,000 home, you put $3540 in it. 

 25:03: So now you're up to $190; it's worth $250. 

 25:06: They'll loan you $220 out of it. 

 25:09: You got all your money back and then some. 

 25:12: And then you hold that as a rental, or you hold it to live in, or You just about to flip, you know, people have to understand that houses are still selling. 

 25:22: There's always a need for homes, even though last year was the lowest year and, and there was still over 4 million homes sold last year. 

 25:32: That's great. 

 25:33: Yeah, it's like 4.1 million homes sold last year, and that was the slowest year in, you know, in 29 years because the interest rates went kind of crazy over, you know, and it was slow in 2023 too, but People are still buying houses, so I always tell people, don't get crazy with any kind of flips, just, you know, people don't like carpet as much, but they like carpet in the bedrooms they're OK with that. 

 25:57: But you know, there's all kinds of little nuances. 

 25:59: We got videos over at my channel, Wayne Turnertv.com. 

 26:02: You can check that out. 

 26:04: Whether you're buying, investing, flipping for some home buyers, buying land, you want to build or anything. 

 26:09: There's all kind of opportunities out there. 

 26:11: No, I, I love watching your videos. 

 26:13: It's, it's, they're very helpful and informative and, basically, you segue perfectly into our next question, which is, you know, what are your expectations regarding housing inventory and the availability of affordable homes? 

 26:27: I, I think that, you know, it's kind of crazy because you see these gurus are like, oh, it's inevitable, we're, we're most likely to possibly see a recession. 

 26:38: I think that's what one of the gurus said. 

 26:40: I was like, like why did you have to put three adjectives in there, you know, it's like because nobody really knows. 

 26:45: Nobody, nobody really knows, you know. 

 26:48: What I personally see is people getting used to and adjusted to and realizing that the, the, the rates are, are what they are and they're kind of just, there's a lot of people out there that really do want to own a home. 

 27:03: So, you know, even like real estate agents and we talk with real estate agents and brokers on a weekly basis and I tell them there's more people that want to own a home than you really realize that there are a lot of people out there want to own a home. 

 27:18: The, the sad thing is, and that's what we try to do on our channel with, you know, is to teach people, to make it simple, you know, it, it drives me a lot of bonkers that, you know, a lot of when I was in school, and I'm 53, but when I was in high school, you had to take 2 years of a foreign language. 

 27:38: And I can't count to 10 in Spanish if you paid me. 

 27:42: And so, but yeah, they don't teach you interest, compound interest, simple interest. 

 27:48: They don't teach you credit cards, they don't teach you how to balance a checkbook. 

 27:50: They don't teach you how to buy a car, house, they don't teach you anything. 

 27:55: And then you go to school and they'll give you a free Frisbee and a t-shirt if you sign up for a credit card. 

 28:00: So that's the kind of best. 

 28:02: It's kind of awkwards, you know, society. 

 28:06: Now where I'm back to your question, Tim, is where I see things going, I, I see things going actually for the better. 

 28:14: I, I, I think we'll see the 3 or 4th quarter of 2025 to actually end pretty strong, and I think 2026 is gonna be strong too. 

 28:24: I think more and more people are realizing like what I'd said, hey, I have equity. 

 28:29: And I'm tired of debt. 

 28:30: I got this payment, this payment, this payment, this payment, and we can get rid of the gas card; we can tear all that stuff up because we don't need that anymore because we're gonna free up some cash. 

 28:37: We're gonna take our equity, sell the house, go buy a new house in a school district we like, or we've been wanting a one story, or we've been wanting that house with a pool, we're gonna have a pool anyway, we're gonna enjoy it more. 

 28:49: And so people are doing that. 

 28:50: They're saying, well, wait a minute, I got equity. 

 28:52: I got $100,000 equity. 

 28:53: I may have $40,000 in debt, but you have to learn from that. 

 28:58: And learning from that means the last thing you want to do is to sell your house and go from a $3000 a month mortgage payment to a $4500 or go from a $15 to a 25 and then you still have credit cards and then you go out and buy a new vehicle and then you're back to square one, you know, I always tell people you're in that hamster wheel, you know. 

 29:20: And you got to get off the wheel, man. 

 29:22: You know, it's harder than it seems. 

 29:24: I've been there and done that, but I'm speaking from somebody that comes from very humble beginnings. 

 29:29: I've made millions of dollars, I've, I've lost it. 

 29:34: I mean, you know, I've been left with $6000 to my name before and, and a brand new housing market where nobody knew me because I'm from Nashville, Tennessee, and when I started here in New Orleans, I had $6000 a car with a $600 car payment. 

 29:50: But I said it's people in houses. 

 29:52: Give me a desk, a chair, a phone, and a computer where I can access the MLS. 

 29:57: And I will sell real estate, and I, and I have, like, it's, it's people and houses. 

 30:01: That's what I tell folks, I tell real estate agents, it's, it's people and houses, and we teach real estate agents how to do that. 

 30:07: We teach buyers how to buy houses, we teach homeowners how to sell their home as quickly as possible for the most amount of money and the least amount of stress. 

 30:16: That makes a lot of sense, especially people, you know, appreciate genuine when you genuinely care about them, and I, a lot of business in general, sometimes you forget that it's a person on the other side. 

 30:28: So I feel that every time I speak with you and watch your videos. 

 30:32: So thank you again, Wayne. That's all the time we have for today, but is there anything else you want to mention to the audience before we jump out of here? 

 30:41: No, just if, if anybody has any questions, concerns about, you know, getting qualified, approved, we have lenders that we refer people to around the country, so it doesn't matter where you are, if you can hear my voice, you're watching this video, it's important to know you can do that and go to 

ontactWayne.com. 

 30:56: You can book a call with me or one of my staff members. 

 30:59: We'll reach out to you, talk with you. 

 31:01: Ask you a few questions and get you in the process. 

 31:03: If you're, if you own a home, you need to sell a home, you know, oftentimes people get kind of behind the, behind the wheel, so to speak, you know, they may get behind a little bit and I always tell them, you know, instead of just dumping the property, reach out to us and say, hey, Wayne, I've got a home. 

 31:17: I've been behind in my payments for 3 months, you know. Like we can help folks, Any facet. 

 31:23: You're a real estate agent, you're buying, you're selling, it doesn't matter. 

 31:26: You can go to WayneTurner.com. 

 31:28: Our YouTube channel is Wayne Turnertv.com if you want to learn more, or, you know, book a call with us at any time and contact.com. 

 31:37: That's great. 

 31:38: We'll definitely add a link in the description below. 

 31:42: If you found this video helpful, please like and subscribe to our channel, and don't forget to sign up for our free foreclosure email alerts. 

 31:51: Until next time, I'm Tim Jones with foreclosure.com, and thank you for joining us today.