Lucky Sevens: Why a 7-Year ARM Could Beat a 30-Year Mortgage Right Now With Fred Glick Of Arrivva

Here’s a glimpse of what you’ll learn: 

• Understand why a 7-year ARM might be a smarter move than a 30-year fixed mortgage right now
• Learn how banks really set mortgage rates and what the Fed’s moves mean for you
• Discover the hidden influence of mortgage-backed securities on your loan
• Hear about the headaches of solar lease transfers and a hack to make it easier
• Explore strategies around negotiating commissions and avoiding unnecessary fees
• Get insight into how overseas buyers and all-cash offers really impact the market

In this episode with Fred Glick

Which mortgage works best for you—fixed or adjustable?

Fred Glick of Arrivva reveals why a 7-year ARM could be the smarter move than a 30-year fixed in today’s market. He breaks down the inverted yield curve, how banks actually set rates, and why the Fed’s decisions don’t always mean lower mortgage costs. You’ll also get insider tips on avoiding commission traps after the NAR settlement, navigating tricky solar lease transfers, and understanding the impact of overseas buyers and all-cash offers. This is real estate advice you won’t hear anywhere else.

Resources mentioned in this episode

• Fred Glick on LinkedIn
• Arrivva
• Arrivva Mortgage
• Live Mortgage Rates
• 1918 Ellen Avenue, San Jose, CA
• PriceMe.Game

EPISODE TRANSCRIPT

[00:00:21] Drew Thomas Hendricks: Welcome to We Fixed Real Estate. We’re deep into a conversation on the inverted yield curve right now between fixed mortgages and variable.

You gotta stay tuned to listen to this.

[00:00:30] Fred Glick: Nerd talk time.

Yeah. So here’s the thing. You call your friendly mortgage person and you say, “Hey, you know, I don’t know how long I’m gonna be there. So give me rates for 30 year fixed, a 10/1 ARM, a 7/1 ARM, and a 5/1 ARM.” And what you end up finding out is up until about a month ago, the 30 year fix was the best rate. And you’re saying to yourself, “Well, wait a second, 30 is longer than 10, seven and five. So how is that possible?” Well, here’s what it, here’s the basic story, kids. Short term rates. Now we all have heard of the Federal Reserve and the Fed and the late rates, and they’re gonna lower the rates.

And rates, what rate are they actually lowering and raising? They’re not lowering and raising mortgage rates. They’re not lowering and raising car loan rates. They’re not even raising or lowering the prime rate. We’ve all heard of the prime rate. The prime rate. All that is, is what a bank would charge its best customers basically, ” You get the prime rate.” ‘Cause think about the words, prime. It’s the best, like prime stakes. Same thing. So you know, and that has to do solely with bank loans and with home equity lines of credit, basically. Those are the two things. But what does the Fed do?

The Fed has this, they call it the Fed window. There’s an actual little window, and you raise the window and you say to the Fed, is bank, bank X, ” Hey, Fed, I need some money so I can lend it out and make money.” It’s called the Fed funds rate, and so the Fed says, okay, we’re gonna charge you 4.75% for that money. That’s the Fed funds rate. That’s the rate that chairman Powell and the rest of the Fed Governors vote on every month to decide if they’re gonna raise it or lower it.

So let’s say tomorrow’s a fed meeting and they decide to lower the rate by a quarter. So here’s the really, really interesting things, and kids do your homework on this. It used to be every time the Fed lowered that rate, every bank immediately would lower its prime rate by the same amount, let’s say a quarter of a point. For years now, probably the last 10 years when the Fed lowered the rates, banks barely moved. Maybe one of them did. Because now they’re making a bigger spread. They’re still charging their customers the higher amount.

So in the old days, in the 1950s, you used to walk into a bank. You used to buy a five year cd, okay? At let’s say 3%, you’re gonna get 3%. So what did the bank do? They took your money and then they lend it out to somebody who’s buying a house down the street at 6%. So the bank made the spread between the three and the six. They made 3% on the money, and then after five years it would, it would re the whole way to reset. But that was the basic way of doing banking. So, but you gotta watch out now. The banks aren’t lowering their prime when the Fed funds lowers, but what it is, it’s an indication to the market of, “Hey, the economy must be slowing down. It’s on its way to recession. So this is kind of the way to get it out of recession and there’s no shock of inflation going to happen. So that’s why the Fed hasn’t lowered, even though some markets have slowed because there’s still inflation hanging around, ’cause of tariffs, ’cause of whatever it is, it doesn’t matter what it is. And that’s how they make their decision.

Here’s the other thing, mortgage rates don’t immediately go down a quarter percent. That’s silly. All the, the mortgages are based on what’s called a mortgage backed security. Think of a stock that trades you know, every day, every minute, all different prices. That’s what happens to mortgage backed securities. Absolute same thing. You could actually buy your piece of your own mortgage. And so the market anticipates, the markets are all futures market. What’s going to happen? That’s why they go crazy when there’s some idea that something’s gonna happen.

So if everybody in the world knew that the Fed was gonna lower by a quarter, they’ve already traded on that, you know, days ago. And when it happens, sometimes rates can go up that day because people are taking profits ’cause, “Yeah, we were right. Okay. We’re taking our profits in the mortgage backed securities market.”

So either you get into this nerd totally or just ignore it and know the rates are gonna change every day. Look for the trends. Don’t go day to day and don’t buy your house dependent on an interest rate. Yeah. It’s important with the monthly payment is don’t go crazy over, “I have to get 5%, or I’m not buying a house.” It doesn’t work that way. The bond market doesn’t care about you. They care about making money. So there’s your nerd talk for the day. Please ask questions in the place below, wherever we are. ‘Cause we’re all over this. But you know, it’s nuts. I used to pay attention to it all the time. And I’ve learned it’s not worth the time. There’s nothing I can do about it. And there’s nothing you can do about interest rates. So just go with the flow.

But going back to one thing I was saying before, the seven years actually gotten a little better because I think there’s some anticipation that it’s, world’s going to get worse and the seven years gonna get a little bit better than 30 year.

And so I actually priced one the other day. It was about three eights off from the 30 year, so it was better. Start looking at ARMs, five years still is awful. 10 years still doesn’t make sense. So go to your sevens. Lucky sevens.

[00:06:56] Drew Thomas Hendricks: Let’s talk about  how to get a hold of Solar City.

[00:07:00] René Pérez Jr.: I mean, 10, 15 year back or whenever it was when Elon Musk bought Solar City and they put him into the Tesla umbrella, they did a pretty good job at just not actually fully setting, setting them up for servicing. So what happens whenever someone is trying to sell or purchase a home, there is no real customer service as to how they’re going to transfer the solar system. Everything is app based, which, you know, so there’s a mixture of thought there, right? Because Tesla is trying to streamline the way that transfer processes work. And the way that we navigate with just everything in general.

But what happens is they just don’t have a person. And at the end of the day, when you’re working in a home services business, you need to be able to talk to someone. So, it’s just really hard to get ahold of them. They always just send you to the app. But the one live hack to get ahold of Tesla Solar is to call them.

Say that you’re interested in buying a solar lease, and they will get their top sales rep to answer the phone. And once they actually answer the phone, then you go and say, actually, “Hey, I currently have a solar system. I want to get rid of it. Please guide me through the process.”

[00:08:20] Fred Glick: Maybe you lie to them and you say, “Hey, I’m buying this house and I wanna put solar on it. I don’t close for two months and I want to get a price and all that.” Just make up an address. They’re not gonna know. And then say, “By the way, I’m selling my house in a couple of weeks and I need to transfer this over. And how they get it.” Now here we have a little bit of a wrinkle that was thrown in by the lender to us. Which I’ve never seen. And when I saw it, I just laughed. This lender, big bank, you know, corporate, wants certain language in the contract.

And I said to the loan officer like, “Good luck with that. Okay.” Who are you gonna send it to? I mean, you’re dealing with, you know, the app. And why would they change their contract?

They have absolutely no reason to do it.

[00:09:15] Drew Thomas Hendricks: Now these are for solar leases? Not loans.

[00:09:17] Fred Glick: Yes, solar leases.

[00:09:19] Drew Thomas Hendricks: And then the issue is that when you’re selling the house, you need to buy out the lease so that you can transfer the title.

[00:09:25] Fred Glick: One of two things, either you assume the lease. This lease on this particular one, we have only has five years left, so it’s, it makes more sense actually to lease it than to buy it out. But you can buy it out. There’s some solar companies we’ve seen that only let you buy it out at certain times in the contract. One being when you sell the property. You can’t just one day call up and say, “What’s the payoff?” And they’ll say, “Nothing,” because you can’t pay it off.

So kids take these, every time you have a house you’re looking to buy and there’s a solar contract involved, get ahold of that thing. Get ahold of it before you put an offer in, throw it into AI and ask what to do of how to transfer. Ask the sellers and the seller agent to find out the process. And if you’re listing a house, find out what the story is way before you list the house. So these things can screw up a deal. I mean.

[00:10:28] Drew Thomas Hendricks: Isn’t it the seller’s agent’s obligation to figure all that stuff out so they can sell the house for the,

[00:10:34] Fred Glick: Pretty much. Pretty much. But you try, but they won’t do anything until you have it under contract and you wanna transfer it.

So we knew the process. We just couldn’t execute anything until we had a buyer. And now the buyer gets into it and now, you know, the lender wants to have this, that, and the other thing. So this is kind of a mess. We’ll let you know next week how it boils out, but yeah, you can find the sales number.

Specific to Solar City or do you encounter this problem with other solar lease companies? They’re all a mess. I don’t care which one it is. René, is there other come to mind if you remember the name?

[00:11:10] Drew Thomas Hendricks: Well, Sunrun’s actually the biggest one in the market.  And they went out of business, didn’t they? So they had to transfer to another company.

[00:11:19] René Pérez Jr.: I don’t think they went out of business.

That’s actually, that would be good news to me. I didn’t know about that.  

[00:11:25] Drew Thomas Hendricks: Trying to think if we had, I thought we had Sunrun and I can’t do anything with them anymore.

[00:11:30] Fred Glick: I mean, you remember that movie from the fifties where Danny DeVito was selling siding? I forget the name of it but those are the guys who were sold all the solar panels to people 15 years ago. They were just hucksters and they put these people in leases. They had no idea what they were signing. They just told ’em, you know, what’s the monthly payment. It’s like car dealers. “Hey, where do you want your monthly payment? We’ll get you there.” You know.

[00:11:56] René Pérez Jr.: Well, the thing with solar leases is solar leases and purchases have made sense in the last decade because of a lot of the solar incentives. Right? So the problem is that if a person sells a house, the new owner does not get any of the tax benefits or any of the rebates. And that’s where the problem happens, because the new buyer doesn’t want to take on the lease because it’s not really financially better for them. But the sellers, they don’t want to just, you know, lose the rebates or at that point they didn’t realize that like, “Oh, it was actually not a good deal, but I only benefited because of the rebate.”

[00:12:35] Fred Glick: Yeah, it’s like solar and concept, great idea. Practice? It’s been interesting, that’s for sure. All right. Enough of that. Good luck, everybody. Let’s talk about This Week in Reddit. Yeah.

[00:12:51] Drew Thomas Hendricks: What is the latest on Reddit? We were talking about homes going back in the market in droves. And there was another gentleman that was looking to sell his house for 4 million In Florida.

[00:13:03] Fred Glick: Yeah. And he said he was,had to pay 6% and should he negotiate a lower commission? Like dude, seriously, $4 million, house 6%? I assume it’s three and three or three and a half, and two and a half. Negotiate, negotiate, negotiate, negotiate, negotiate and beat them down and have three company. If you’re going to go with the conventional type of regular companies, get three of them.

And they’re all gonna basically do the same thing. They’re all gonna basically have the same deal, but just beat them up. It’s like, “Hey, I can get from this guy, this, I want you to do this.” And also, here’s the flip side. Why are they telling a seller now to offer a buyer broker free of 3% and put it in their contract? The whole NAR settlement and all that was all about the fact that you don’t offer anything and then the buyer comes in, this buyer broker fee in his contract and asked you for it. So what this guy did is put himself $120,000 negotiating against himself by these agents, telling him he’s gotta put up, you know, he’s gotta show 3% buyer broker fee.

I mean, what planet are these people? And they’re just waiting for the next set of class action suits against them on the things they’ve already agreed not to do.

[00:14:28] Drew Thomas Hendricks: Well, people are gullible if you tell them 3% standard.

[00:14:32] Fred Glick: Regular people don’t realize that they’re not involved day to day. But you know, it’s ethics, people. I mean these realtors just don’t care. Just don’t care. And it’s pathetic. So we’re trying to spread the word, give you the context.

[00:14:48] Drew Thomas Hendricks: It is definitely context and it’s a good, it’s good advice to interview three or four people to figure out what they’re, they’ll do for you, almost a listing presentation.

[00:14:57] Fred Glick: And look for a fixed price company.

I mean, we’re not in Florida, but fixed price, real good service, a reasonable fee. Who cares what the price of the house is. On the flip side, if you’re a buyer broker. Why would you charge a percentage based on what the sale price is? Because the more people pay, the more you make. And your job is to get them a house for less money.

So there should be incentive for the less you get it, for the more you make, but it’s the other way around. Makes no sense. Zero sense.

[00:15:36] Drew Thomas Hendricks: Crazy. Also, on socials this week, there’s a lot of chatter about overseas buyers being cash based and increasing the competition in the market. For example, in California, what did you say? Of all the overseas buyers, 57% are buying In California?

[00:15:53] Fred Glick: No, 15%.

[00:15:54] Drew Thomas Hendricks: Oh, 15.

[00:15:55] Fred Glick: Yeah. Close. Yeah. I mean, but what does that number mean? Say you are a businessman in Japan and your son is going to Stanford and you’re buying him a house. Does that make you an overseas buyer? Okay. Yeah. But it’s not like it was during the reign of the previous premier president of China before the one, what’s his name now? Ping? Anyway, what happened every 10 years you get a new dude in charge in China.

So you’d align yourself with him. You’re part of the government, you’re part of the business world of there. And then he decides, you know, he’s gone. Now there’s a new guy. So you, if you don’t hurry up to him, you know you’re not gonna get anything. And so what people were doing it is just moving their money over to the US and just buying stuff. In 2008, 2009, during the option arm crash that I call it, people were buying stuff in, let’s say Pacific Heights. You know, a $25 million house that they could get for 10, and they just closed it down. They didn’t use it. They didn’t need it.

[00:17:09] Drew Thomas Hendricks: Buildings with nobody living in ’em.

[00:17:11] Fred Glick: Shut it off, shut the water off, shut the power off, just leave it there. Now it’s probably back worth to 25 million. But they had the money to do that. And they needed to get the money outta China to do that. So the foreign buyers now, I’m sure there’s less Canadians coming in ’cause they’re not exactly welcome.

There’s less Mexicans coming in ’cause they’re not exactly welcome. So where is the money? Where who, where’s the value of their currency so much better than the us? Like for example, everybody’s going to Japan on vacation now. Why? It’s dirt cheap. The yen collapse compared to the dollar, but our dollar is gone down in value.

So is the euro so much better than the dollar that it’s worth investing in American property with your Euros? You know, so, who are these 15%? What are they buying? We don’t know. We don’t see people call us up, say, “Hi, I’m here from China. I wanna buy 10 properties.” It doesn’t happen. So it’s there, it’s different people.

And how about people who are on a work visa from, I don’t know, India. And they buy a house to live in. Are they counted as foreign buyers? So these numbers, when you hear them, whatever, it’s not gonna affect your day-to-day life and your ability to buy a house that much. It’s, you know, everybody, I’ve heard these things on socials like, “Well, now it’s a foreign buyer and not your neighbor buying your house and your neighborhood’s gonna change.” Like, get over yourself. Stop with these sensationalism. It’s just not that way. So.

[00:18:55] Drew Thomas Hendricks: The one point though is that, that the socials have been talking about is that they are all cash offers. So it,

[00:19:00] Fred Glick: Of course they are.

[00:19:01] Drew Thomas Hendricks: Does make the environment more competitive.

[00:19:03] Fred Glick: And there actually are mortgage programs for foreign individuals.

You put like 40, 50% down and you get a rate probably in the eights or nines, so it can be done with a lot of money down. Not from a Fannie Mae lender. Don’t call Wells Fargo for it, but you call us, we have these lenders who can do it, foreign national programs, they call it.

And by the way, we have a flat fee on our mortgages. So you know, these mortgage brokers love to charge a lot of money for these type of loans because they think you can’t get it anywhere and you’re focused into them. And no, it’s not the case. We don’t care what type of mortgage.

[00:19:48] Drew Thomas Hendricks: Like you have a flat fee, which makes sense, and buying and selling a home makes sense. But how do they, they do a percentage of the amount of mortgage the amount that you’re borrowing?

[00:19:57] Fred Glick: I’m sorry, what was your original part of the question?

[00:20:00] Drew Thomas Hendricks: Well, you were saying Arrivva charged a nice, very transparent flat fee on the mortgages that you guys,

[00:20:06] Fred Glick: Right.

[00:20:07] Drew Thomas Hendricks: Right. How does a mortgage broker traditionally charge, price their mortgages, percentage borrowed?

[00:20:13] Fred Glick: Percentage of a loan amount.

[00:20:15] Drew Thomas Hendricks: Now in mortgage? Is it like we’ve all talked to great lengths about how it’s just as easy to sell $400,000 house as an $800,000 house. And if you’re not talking about jumbos, is a $400,000 mortgage that much more easy than an $800,000 mortgage to warranty?

[00:20:33] Fred Glick: It’s the other way around. It’s just like buyers. There’s people who are scraping every penny to try to get their down payment. They come from different sources and gifts and you gotta kind of finagle things around and maybe their ratios are tough and they gotta refinance something. I find over the, over my years of doing this, that the lower amount people, I mean, they’re just not, this isn’t their thing every day, and so it’s tough for them.

I mean, just getting paperwork to us is, can’t get their heads around it. Whereas somebody who’s working in a big organization who’s got a master’s degree and understands how to get things done efficiently and has their life kind of organized and financially organized, and everything’s online, it’s easy. I’d rather do bigger loans all day long. Because people get it. Sure. And so we’d still charge the same amount.

[00:21:34] Drew Thomas Hendricks: Fee negotiable for those people not wanting to do a fixed fee mortgage through Arrivva, which would may be crazy not to.

[00:21:39] Fred Glick: Here’s the problem with mortgages, it’s a different story with each one of my lenders. That’s the way it basically works. I have to tell them how much I wanna make on every loan. That’s the system. So I can’t just decide to charge something else or a different way of charging. So we’re locked into it. Every bank or broker is locked into it. That was because of the 2008 option ARM collapse.

[00:22:06] Drew Thomas Hendricks: It’s fixed. So, you know, if I’m selling my loans to the x, y, z wholesale mortgage company and the guy down the street’s doing the same thing. Mine prices, you know, 5750 over the wholesale price. His prices at 2%, whatever that turns into in dollars, over. So at a 500,000 mortgage, he’s getting 10 grand. So we’re getting 5750. So our rates are always gonna be better. Always. So that’s the way you look at it. Interesting.

[00:22:41] Fred Glick: Crazy and we have live rates. Whereas if you go, you decide you wanna start shopping for a mortgage, you call up 10 guys and they tell you over the phone what the rate is, they can a hundred percent lie because you can’t lock in ’cause you haven’t found a house yet. So you can only lock in once you have an address. So, but with our system, it’s live. This, the rate you got today.

[00:23:08] Drew Thomas Hendricks: Arrivva.com/rates.

[00:23:11] Fred Glick: Yeah. So, and you can follow along. It’ll just automate so that it’ll send you rates every day or whenever they change.

You know, there’s that crazy three times change in rate day, it’s just can’t get anything locked quick enough ’cause they’re changing too much. Then the mortgage backed securities are going up and down, see how this whole thing comes back to what the Fed did? So, that’s kind of the way the mortgage world works.

[00:23:38] Drew Thomas Hendricks: Aside from mortgage, let’s talk about the real estate market. We’re now in August. We know it’s traditionally a slower time of the year, unless you’re really need to buy. How are you sensing the market right now?

[00:23:50] Fred Glick: The last week it’s kind of picked up. We’re getting buyers who’ve been, I don’t know, like 90 days ago they started and then they disappeared and now they’re back. San Francisco is a Looney bin, again.

[00:24:02] Drew Thomas Hendricks: Anecdotally from like the marketing that we do for you, the ads that we do, and then if you guys are lucky enough to receive an Arrivva postcard, I can definitely tell you that the interest of people being on the site is picked up in the last two weeks. Like we were averaging about 120 cards a week. I think that we got 180. Those numbers don’t mean anything to anybody, but anecdotally I can see that there’s a little more interest on the site.

[00:24:25] Fred Glick: Yeah. So, who knows, did everybody go away in July and they’re staying home in August? ‘Cause Paris is closed in August. So nobody’s going except the tourists who have no idea.

I mean, city’s still open, but there’s certain things you just can’t get. So we had a deal in Los Altos. Do you know know where that is? It’s kind of adjacent to Palo Alto. It’s a lot of houses with a lot of land. So, you know, it’s the fancy tech people, the rich tech people that buy out there. Don’t quote me exactly, but if something like they were asking 475 for this house, it was an okay shape.

Our buyer went in at like 490, something. I’m kind of generically giving you numbers. Cash deal. And they lost.

[00:25:21] Drew Thomas Hendricks: Whoa.

[00:25:22] Fred Glick: Exactly. And this thing, I mean, René will tell you that was about the right price. So, you know, in weird places like that, you’re gonna still see crazy, crazy stuff. You know, let’s say a market like Willow Glen, where we have this beautiful house, if I get out of the way.

[00:25:44] Drew Thomas Hendricks: Oh yes.

[00:25:45] Fred Glick: There we go. 1918, Ellen Street, San Jose. The traffic has picked up this weekend. We’re doing a offer on Tuesday. We’re taking this on Monday, so hopefully this will be gone. It’s great house. Everybody comes out of it says it’s a great house. Great school district. You know, it’s Willow, Glen’s, adorable little place. Few blocks away from the strip where all the stores are and restaurants and I ate a Chinese restaurant there the other day. It was pretty good. Taiwanese actually.

[00:26:24] Drew Thomas Hendricks: Hmm.

[00:26:25] Fred Glick: Three cups chicken. Really good.

[00:26:28] Drew Thomas Hendricks: Three cups chicken?

[00:26:29] Fred Glick: Three cups chicken. Yes. There’s my review. I can’t remember the name of the place unfortunately.

So it’s doing okay. Condos, town homes, I still see price reductions kind of all over the Bay Area. They’re just, it’s just not happening. Except in San Francisco, it’s doing fine.

[00:26:53] Drew Thomas Hendricks: San Francisco’s back.

[00:26:55] Fred Glick: It is definitely back that we’ve talked about it on this podcast over and over, and the mayor’s doing a great job and good luck to it.

[00:27:04] Drew Thomas Hendricks: I wanna talk, this is a left field thing. I got lured into a social media game yesterday. And I know René, you’re pricing savant. This game’s called priceme.game, where you have to guess, they show you all the pictures and you can, you have six guesses to guess the home price, and I’ll show you which numbers you got correct.

[00:27:25] Fred Glick: This is stuff that’s already closed, right?

[00:27:27] Drew Thomas Hendricks: Yeah, I think it’s already closed.

[00:27:28] Fred Glick: So you can’t make a bet on something that’s coming up to close?

[00:27:31] Drew Thomas Hendricks: No, I don’t think it’s a listing thing, but it’s a René, have you played that?

[00:27:35] René Pérez Jr.: I have not. I haven’t never. I haven’t heard of it, but, alright, let’s try it.

[00:27:39] Drew Thomas Hendricks: PriceMe.Game

That’s the new distraction for everyone who’s listening to this podcast. And Fred. Yeah, there was a, I gotta into, it was a big house in, Colorado. Littleton? Colorado.The end price was 14, 555,000. It took me four guesses, originally, five in, then I did 16. And yeah, it’s interesting.

[00:28:02] Fred Glick: So what, what would be fun is taking, you know, a house like this.

Nice house, 2,500 square feet, pool, four bedroom, three bed, whatever, generic, say what’s it worth, but don’t tell you where it is. Because what would be interesting is if this was in, I don’t know, Shreveport, Louisiana, you know, maybe it goes for 400,000, whereas you know, here it’s over two and a half million. So,

[00:28:32] Drew Thomas Hendricks: Well, here, here is all here is 408 Old Montauk.

[00:28:36] Fred Glick: Oh, right on the water. Okay. So this is like

[00:28:39] Drew Thomas Hendricks: Three bedrooms, four baths. Single family home. Tap to guess. The price. Shows the listing.

[00:28:46] Fred Glick: Okay. Let’s do this. Let’s have some fun.

[00:28:50] René Pérez Jr.: Well, it’s in New York, so that’s, it’s right on the water. It’s right on,

[00:28:54] Drew Thomas Hendricks: I would guess 28. I’ll let you guys,

[00:28:57] René Pérez Jr.: I’ll go with 34.

[00:28:58] Drew Thomas Hendricks: 34.

[00:29:00] Fred Glick: Okay. I’ll go kind of the middle of 27 million.

[00:29:03] Drew Thomas Hendricks: Well, let’s start with the first one. 34 899.

[00:29:08] Fred Glick: Sure.

So you got the three, right? Is that correct?

[00:29:17] Drew Thomas Hendricks: So those three are right? These are, this is within two digits of the price. So it’s either a 1, 2, 4, or five.

[00:29:25] Fred Glick: Oh, big whoop.

[00:29:28] Drew Thomas Hendricks: 20?

[00:29:30] Fred Glick: Yeah, let’s go low in the 28 or, okay. Go that way.

[00:29:37] Drew Thomas Hendricks: I don’t know. We’ll just do it easy. Like it’s,

[00:29:40] Fred Glick: Yeah. Do zeros. Yeah.

[00:29:43] Drew Thomas Hendricks: Well, we got the two.

Okay.

[00:29:45] Fred Glick: So it’s either three or one, is that correct?

[00:29:48] Drew Thomas Hendricks: Or it could also be four. It’d be 48 million.

[00:29:51] Fred Glick: Oh, that’s right. Yeah. And what’s the purple?

[00:29:56] Drew Thomas Hendricks: Purple means we got it. The second, the second number is eight. Five’s off still. Okay. Eight’s off still, so it’s probably Okay. A nine or a one.

[00:30:05] René Pérez Jr.: It’s probably a zero.

[00:30:08] Drew Thomas Hendricks: I think it’s, oh, you think it’s just a flat feet flat thing?

[00:30:10] Fred Glick: Oh, God. No.

[00:30:13] René Pérez Jr.: I meant, I meant like the other, or the five.

[00:30:16] Fred Glick: Oh, the zero zero zero. I gotcha.

[00:30:18] René Pérez Jr.: I don’t think it’s, I don’t think it’s in the fives.

[00:30:20] Drew Thomas Hendricks: You don’t think it’s 48 million?

[00:30:21] Fred Glick: Go ahead, hit it.

[00:30:24] René Pérez Jr.: Right. But I don’t think so.

[00:30:25] Drew Thomas Hendricks: Nope.

[00:30:26] Fred Glick: Nope, it wasn’t.

[00:30:26] Drew Thomas Hendricks: Oh, it’s 18 million then.

[00:30:28] Fred Glick: Yeah, that’s 18 million.

[00:30:29] Drew Thomas Hendricks: 18 million. That’s a deal. And that is how you play Price Me.

[00:30:36] Fred Glick: Wow. Awesome. Do they have an app?

[00:30:41] Drew Thomas Hendricks: Not showing the game? What’s that?

[00:30:44] Fred Glick: They have an app to the phone yet.

[00:30:45] Drew Thomas Hendricks: I don’t know. I just thought, I just got distracted with it earlier today. Doing diligent real estate work.

[00:30:53] Fred Glick: Well, so they pick out the properties, obviously.

[00:30:56] Drew Thomas Hendricks: Yeah, I think it’s one of those, it’s like the new wordle.

[00:31:00] Fred Glick: Would it be fun to like, there you go. There’s an AI project for somebody. Take everything that comes out on the MLS and then do the same thing with the game. There you go. Do it blind. But yeah, don’t tell the location. That would be even more fun. That’d be, that’d be nasty, kind of, but, all right. There’s your amusement kids. There’s your waste of time as opposed to TikTok.

[00:31:28] Drew Thomas Hendricks: This has been another episode of We Fixed Real Estate, go have fun.

[00:31:32] Fred Glick: Or We Priced Real Estate.

[00:31:33] Drew Thomas Hendricks: Or We Priced Real Estate.

[00:31:35] Fred Glick: Yeah, there you go.