All right. Welcome to Good News York. It is Wednesday.
It's April. It's spring, but there's snow on
the ground. But we're not going to talk about
that. That's not good news. This is good news.
I'm Mike Brindisi, my producer, Danny Tripodi
in the house. Matt is off giving to charity and
doing pushups. So I am lucky enough to say I
am here with the great Joe Doherty. One of our
our clients at growth mode content, but more
importantly a friend of ours a friend of the
show Joe Welcome. Good morning. Happy to be here.
Thanks. I'd shake your hand. I love it. I can't
reach that far I'm glad you're here. We don't
want to talk about the snow this morning, but
not okay We're not because it's good news York.
Well, here's the thing. I like snow Well, right.
I mean I I people that you know friends and family
that I know down south. They don't understand
why I enjoy the snow and I tell them I love seasonal
changes. I love the snow around the holidays.
The problem, the only problem I have is when
you get past New Year's, you get into February
and March, I'm done. Now we're good. And the
problem I have is that it just, they tease us
with warm weather and then we go back to snow.
You know, let's just have it one way or the other.
Well, that's kind of what I was going to say.
How would we know how beautiful it's going to
be in the summer in Central New York if we didn't
have these little days? We're battle tested.
Yeah. One of my favorite quotes is you can't
appreciate the light till you've been in the
dark. You can't appreciate the good weather till
you've been in the hideous cold. It's yin and
yang. It's yin and yang. Listen, you are here.
Joe Doherty, Joe Doherty mortgage team or cross
-country mortgage. Yep. Same thing. Yeah. So
you are a mortgage broker, but you also would
you consider yourself a realtor as well? Nope.
I mean, I cater to realtors. So basically I'm
the money guy. Realtors take interest in people
looking to buy homes. And I'm part of that team.
I mean, I've been doing this for over 20 years.
And we we have a pretty good playbook my team
does on, you know, making sure we work hand in
hand with realtors. And just for definition,
a realtor is somebody that really shows unlock
stores, make sure somebody wants to buy the house
and then when they you know, When they're ready
to move forward with a home We're right there
behind him with the money the mortgage the financing
the consultation to make sure that they know
what they're getting into and yeah You you you're
the guy that's gonna find the best rate and the
best mortgage option Yep for the potential buyers
Correct. Yeah, we go through a pretty extensive
application process educate our clients to make
sure they know what they're getting into. We
break it up into, you know, are they a first
time home buyer? Are they an investor? Are they
a move up buyer? Are they somebody that's been
through their life empty nesters and they're
looking to downsize. So we take all that into
consideration and make the best recommendation
possible. I mean, there's a lot of different
mortgage programs out there. I'm lucky enough
to say across country, we pretty much participate
in everything that exists. And then some really
great company. In fact, the number one retail
lender in the country right now. We have the
most top 1 % loan officers in the country. So
we're like, Really really love what we do and
it shows in our numbers and how many people we
help I'm blessed to say that I've helped at least
6 ,000 people get their first homes in my career
and it's it's pretty rewarding little stressful
It's very if you've ever bought a house. I've
bought I've bought I've bought and sold multiple
houses my wife and I had a rental property or
two for a short time and You know, there's obviously
a way to train and learn and go to school for
this kind of stuff. Then there's also the just
the guerrilla way, which is my way. I just learned
by doing it. Yep. Did you what what what kind
of training did you did you go through? If any
at all? And how do you how do you? Interesting.
Learn all that stuff. Very interesting. Well,
a lot of it every I always tell people that I
train and loan officers, I've trained some some
loan officers that have gone off to be top producers.
So I really love doing that as well. And interestingly,
And this is talked about a lot. They don't really
teach a lot in school or in the secondary education
system about how to actually take financial responsibility
in your life, how to get a mortgage. There's
no class on it. So when I'm getting borrowers,
especially first time home borrowers, they're
like, so is this like getting a credit card?
I just got a car so I know what this is about.
Like, no, no, you don't. You know, it's a whole
different thing. So we have to. Really educate
everybody that gets into it And so there is no
real formal training. I mean there's a couple
of Companies out there that take you through
like an online training program, but Most of
what you learn you have to go under somebody
that's done it for a while and have a mentor
and shadow them and To understand how to do it
I always say it takes about a year to really
wrap your brain around how the whole real estate
Transaction cycle works, you know, you have the
realtor component in New York, of course, there's
more red tape in good news York, there's more
nice, which is consumer advocates to protect
people. But there's more players involved in
real estate transaction. We're considered an
attorney state. So you'll typically have an attorney
when you're buying. But to go back to your question
on, you know, how did I get into it? I started
as a financial advisor. Funny story, like when
I had my first son, Aiden, and ironically, he's
getting into the business now. He's 26. I tried
to tell him, no, do something else. But it's
going to be great. I was like, I got to do something
important. You know, I got to feel like business,
you know, white collar, I went out and got a
suit. And I'm like, took my financial advisement
testing through the state of New York and From
there kind of transition into lending. I found
it a little more rewarding to see people buy
their first homes. Absolutely. To see people
go through the actual experience of that. Yeah.
And I've been doing it ever since and learning
how to do it properly really takes years of experience
because you have to really know the psychology
of why people are buying a home. It's probably
one of the most emotionally charged purchases
that people will ever do. You know, you're absolutely
right. You know, there's a running joke in my
house. My daughter, she can't make decisions.
So we'll be like, what do you want for dessert?
You want, you know, half moon or you want cookies?
And we joke she acts like she has to buy a house.
She's buying a house. She can't decide because
that really is the metric for, you know, when
you think of big decisions to make. Yep. That's
one of them. Sure. Before before I go on Continue
on this I want to just circle back real quick
to what you said about school that is you know
You said there's no you know, there's no training
in school for this kind of stuff I have been
such an advocate for You know, there's a lot
of jokes on the internet of like, you know while
we were square dancing in PE class You know,
we should have been basically learning how to
do our taxes learning how to deal with mortgages
this stuff I mean, don't you feel like that is
something that could and should be woven into
the public education system. I've been Speaking
on this for 20 years. Yeah, you know and my kids
see him go through school and like you said,
they're square dancing They're doing the parachute
game teach them. They're like, hey, we don't
know what to do today Let's put him in dodgeball,
which I do don't dodgeball. I agree with dodgeball
They have to keep but I actually went to the
school where I went to in Weed Spore and I talked
to the business teacher, you know, they have
those electives. Yeah, they don't really put
a lot of emphasis on the business classes like
hey, this is a half year. Sure. And the guy's
like, well, this is and I was like, hey, you
want me to come in and do some guest speaking
on, you know, for the kids to get their finances
in order, their ducks in a row to be able to
become a homeowner, just so it's not that they
should start buying homes. Right. I shot high
school, but but they should know gives them an
idea of what their parents went through if they
own a home, if you know or how to jump and they
were just had no interest. They're like, no,
we don't we don't want to do that. And it blows
my mind because no idea why. You know, a lot
of the times the things that we learn, some of
the things that we learn in in public school,
it's great. It's all relative, but you don't
use 70 % of it. most of the time. I don't understand
why we wouldn't have more emphasis on economics,
mortgages, learning how to balance your finances,
doing your taxes. I always rave about media literacy.
That's a whole separate topic, all the problem
with misinformation and disinformation. We really
need to catch people up on that. They cross paths.
They absolutely do. Because now, to your point
with the economics, It's like a big media craze.
Everyone's talking about terror. And everyone's
a specialist now, all of a sudden. And as you
can imagine, that's very frustrating for somebody
like me, who actually can read through the red
tape, look at everything, and it's, you know,
people are... That's not how it works. Exactly.
But if they learned in high school, had some
of these fundamentals... Well, that's the thing.
You can't even get really mad at them because
it's, a lot of times, it's not their fault. It's
like you don't know because you were never taught.
Yeah, exactly read one article and now you're
yep. I have my son all the time a teenager as
well He comes up to me Liam. He's like showing
me some tik -tok Realtor investment scheme that
some kids selling, you know an info product on
or creating his click fund I'm like, no dude,
that's bullshit. Yes But back to what we were
saying if I can remember you know, you're you're
talking about Helping so many people and and
you know you and I know each other a bit now
and you have you have such a good heart and and
I do too almost to a fault and It there there
is that element. I think would you say that maybe
that's that's probably the The crux of why you're
you're doing it and why you're still doing it
because there's a lot of work to be done There's
a lot of research a lot of bullshit to go through
But I is the payoff really when when when you
see somebody get what they need and what they
want most days Yeah, I mean, obviously there's
challenging days where of course, you know and
on top of all that the industry changes quite
a bit sure As the economy changes the mortgage
securities changes which which all goes and bleeds
down to the consumer Learning the psychologies
of people's can be put a lot of pressure all
in all I really love what I do and I'll give
you a couple examples why please you know, I'm
able to Like most recently help a refugee by
their first house who went through immigration
worked very hard saved their money and when you
look at Those instances in those families and
you're at the closing table and you hand them
the keys to their house It's like you're seeing
in real time the American dream come true 100
% and it's just like very emotional and they're
More appreciative than anything you could ever
imagine I do a lot of mortgage rescuing as well,
where people have been turned down by multiple
banks. And then finally, a realtor is like, try,
we have a pretty good reputation, you know, if
we can't do it, nobody can kind of thing. And
unfortunately, when people do apply for things,
they're fearful about getting turned down or
getting rejected. And we don't use words like
declined or rejected and stuff. We, you know,
I have my team, like, we just need another roadmap
to get you there. Yeah, you know, we put them
on a path and a roadmap. That's something we
do. And I take a lot of passion in but I recently
had a veteran who was turned down literally by
the top two national veteran lending institutions
in the country. And I took a look at it. It was
a little bit of a Hail Mary, but I was able to
find a way to get it done. And we just closed
last week. And he was like, brother, you you
just changed my whole family's life, you know,
relocating here and he's actually using the GI
Bill to go to school at SU and he's going to
be a doctor. It's an incredible story. So it
feels amazing in those instances when you can
when you can do that for somebody. Yeah, I mean,
we hear over decades. We've heard the story of,
you know, people came here for the American dream,
the American dream. And, you know, as you're
talking, I'm realizing you're one of the guys
on the front lines of facilitating the American
dream, like genuinely. And that's that's special,
man. I appreciate that. No, I mean it. It's amazing.
I would imagine when a new presidential administration
comes in So is it like every four years does
everyone in your company like kind of hold their
breath like here we go Does it does it like a
complete shakeup? When a new administration comes
in or is it just like a little bit of a bump?
Not as much as recently, but yeah, there's always
some kind of shakeup and you're always wondering
there's always a the mentality with investors
and the public that are on eggshells when they
see what the economic outlook is going to be
and what the policy is going to be for a new
administration. But the reality is that there's
very little political influence in the Federal
Reserve and monetary policy. They do a pretty
good job. And, you know, there might be conspiracy
theorists out there like, Oh, no, you don't know.
I get that. But if you actually look at Bureau
of Labor Statistics, and you look at you file
bond yields, and you kind of take an unemotional
and influence look at the markets, you could
determine where things are going to go. And,
you know, to comment on the recent economic volatility,
which is very high, which makes people very nervous.
It was bound to happen. I mean, we went through
the largest mortgage crisis of our generation
in 2008, which the Fed had to put downward pressure
on rates to stimulate home ownership, foreclosure
crisis, COVID. There was bound to be inflationary
problems when we pumped that much money and dilute
the value of the dollar into the economy. So
they had to raise rates. And rates go up, and
it shakes the market up. Sure. Inevitably, these
bubbles flatten out over time. A lot of investors
get rich on volatility. They're like, look at
this dip. They know it's going to go back up.
That's right. That's right. So it could be disconcerting.
And the biggest shame is people waiting on the
sidelines because they think they can time the
market. And to your point, the media discernment,
you said people don't know the difference between.
There's so much basic propaganda and misinformation
and disinformation. And again, I go back to saying
you want to get mad at these people for falling
for all of this stuff, but we don't have media
literacy woven into public education to be able
to spot those kind of things. But it's actually
getting even harder now with AI. I mean, AI is
not just thoughts anymore. They're creating AI.
I mean, image videos. It's unbelievable. It's
ridiculous. Like, you know, I preach about not...
you know, misinformation and disinformation,
I'm falling for the shit half the time too. I
find myself doom scrolling on these AI stuff
and I'm like, how? It's bizarre. It's unbelievable.
But yeah, and people think now that they understand
how the market works and because they saw a couple
of TikTok videos and that's frustrating. You
look at the kids and I often wonder, you know,
how much of this is going to teach them how to
have better Think it'd be like a way to spin
it. Yeah, you know, are they gonna be like because
they're in the thick of it that they're gonna
have to have better Discernment, you know, yeah,
I think I think it's gonna it's gonna force us
all to really take the time to Look into what
we're viewing and what we're reading and and
and really it's gonna take someone to get burned
really bad financially Yeah, I mean to apply
it to this. Yeah before they go Maybe I should
stop taking advice from mortgage people on tik
-tok. I should call Doherty Joe Doherty Speaking
of you know, Joe Doherty Mortgage and Joe Doherty
mortgage team. Yep, and cross -country. Sure.
Yeah. Yeah what um What sets cross -country mortgage
apart in terms of like your customer service
and your loan options like what? I'm I want to
come to there. You know there's dozens of your
types of companies Why why am I coming to you?
I mean, I know yeah I love you, but but for the
for the regular person what what kind of sets
you apart? What's your process? I think that's
great quite. Thank you for letting me answer
that question, so I'm not gonna let you moving
on Times up so Setting ourselves apart is we
take a really highly consultative approach to
it. And we take somebody buying a home as a big
investment in their life, which it is most of
the time. So we teach our customers through education.
We'll do like side by side analysis. We make
sure that they feel very comfortable moving forward
with big decisions. It's a very fast market right
now. in the instance of first -time home buyers,
our borrowers don't just come in, fill out an
application, we're like, okay, here you go, you're
approved up to this, good luck. We take them
through a whole set of coaching to make sure
they know what they're getting into. We then
work with the realtor to help co -pilot the whole
situation for them. It's very hand -holding,
so that sets us apart. Cross -country mortgage
nationally is a really pro business, which bleeds
down to the customer. highly Qualified loan officer
situation the owner of our company Ron. It was
a loan officer So everything that he does takes
the client approach to our business and So when
you look at everything that we have And we have
competitors that have similar products, and there's
some right in our community that do a great job
that I love. With cross country mortgages, the
reason I put my license with them is that I feel
like we just go a little bit above and beyond
when it comes to that service piece of it, educating
our clients, making sure we're putting the right
programs. first time home buyer programs, everything
in place to make our customers feel comfortable
moving forward with buying a home. That's ultimately
what they want to do. It's hard to do and we
don't kind of gloss over it. Love that man that
makes sense. I mean, yeah, it makes complete
sense because I was gonna ask You know, how do
you and your team simplify the mortgage process
for first -time homebuyers? Yeah, I mean you
just answered it and I think that the hand -holding
thing You know that can when you hear about having,
you know hand -holding you think of it as a negative
kind of phrase I think in this business and in
your situation, I that's it. That's important,
especially for first -time homebuyers Yep. So
I love that you put so much emphasis On the customer,
you know people say that all the time when the
customer comes first, but they don't really practice
it They just preach it and you know, I love what
you said about you know, how one of the guys
would you say the owner was a loan officer? Yeah.
Yeah. Yep That really resonates with me because
when I was doing radio back in the day I noticed
that a lot of GMs of radio stations were also
former on air but also former sales people because
they got they because a lot of companies want
somebody who can see both sides because those
are the two sides of that it's crucial it's crucial
yeah so to have the owner not just be the owner
but somebody who comes from that side of it I
mean that's got to play a huge role it plays
an enormous role and in the case of the mortgage
industry I would say probably less than half
of the mortgage lenders out there, the guy at
the top of the org chart, has probably never
originated alone in his life. So that's why you
have so much differences in how smooth the transaction
goes. So particularly in our greater Syracuse
area, where we have attorneys, if somebody comes
into town and realtors will... definitely, you
know, see this a mile away and be like, please
go with a local lender. If you don't know the
players involved, you can't quarterback the situation.
So if somebody comes in with a pre approval from
East Wichita Federal Credit Union, they're basically
going to look at this and say this is only as
good as a paper it's written on, right? You know,
so you got to have that expertise is particularly
in this area, it takes a certain amount of expertise
to do it. But yeah, it's amazing to see people
run companies that actually don't have the experience
on the front lines of of dealing with customers.
And that's what you want. And that's one of the
reasons cross -country is doing extremely well.
I mean, we're growing where other mortgage companies
are having terrible years. And that's not something,
you know, the everyday buyer can know ahead of
time. You know, you just go by what you hear
and see. You might not know that I'm dealing
with someone that doesn't actually have a ton
of experience in this certain aspect of it. Sure.
I got to ask, are there any unique kind of loan
programs or services that you offer that clients
might not be aware of? Yeah, one thing that's
really popular right now is, and in order to
describe what this is, I'll have to kind of give
you an example of a situation. So in this particular
market, there's low inventory. And that means
A highly desirable house has multiple offers
from multiple buyers. And the competition amongst
those buyers is crucial for the seller making
a decision. It's not just price, it's loan type,
how much they're putting down. They get all that
information on a purchase offer. Now, add to
the fact if they have a contingency, in other
words, say you're coming to buy my house, but
in order to do so, you have to sell your house
to qualify. because you need the money from that
house, etc. Yep. We will do a bridge loan, which
will give you the money out of that house so
that you can put it down and not have a contingency
on the sale of your house. That's huge. Because
if I'm selling you my house, I'm like, man, I
got to wait for his house to sell in order for
him to buy my house. I can't do that. That's
a stressful part. Yeah. For people. That was
a stressful part for my wife. Yeah. The whole
like, well, we can't do this until we sell this.
But how do we? Yeah. You know, it's hard to navigate
that. Yep. Yep. So that's really Useful in this
particular market right now where it's fast If
you want to be a buyer and you want to win in
this market, you know, I'm talking and coaching
borrowers all the time We're gonna win and this
is how we're gonna set you up with the best approval
that you can have We're gonna make sure you don't
have contingencies. It's gonna feel really nervous
But if you want this how bad you want it and
you want to win we're gonna help you win You
know and it really is a competitive market where
in years past it would be you could underbid
and try and none of that right now I mean every
house Pretty much is going for what it's listed
for or more in this market or you mean in general
in this particular market? Yeah You know when
rates go up people sit on their interest rates
that were better You know which I can agree or
disagree with I mean waiting on the sidelines
to move on with your life due to market conditions
I always think is Generally a bad idea because
you would have been building equity in your next
house where you want to be That's probably a
topic for another, you know, sure I guess but
To win to remove those contingencies extremely
important. The other thing we have is an enhanced
approval called a cash plus guarantee And a few
of my competitors have this as well thing about
cross -country mortgage that makes it a little
more accessible is we typically have lower credit
score requirements for that. And basically what
it is a fully underwritten borrower, that we've
underwritten it to a degree that we're issuing
a letter saying that this offer is as good as
cash. If this borrower falls through for any
reason, cross country mortgage, we have a fund
set aside to specifically do this. I was gonna
ask you're putting your neck out there. Yeah,
how are you able to do that? So well, we're fantastic.
We're we're we do a lot of servicing too. We
service a lot of our own loans. So when a borrower
closes with us, they can come back to me and
say, I have a question on my taxes or escrow.
And so in most instances, we're holding most
of our mortgages or servicing most of our mortgages
as well. And that was important to me, because
I like to stay with the borrowers even after
they close. That's been a lot of the lenders,
you know, that are my peers in the industry are
just selling it off to serve get serviced by
Wells Fargo 1 -800, you know, or another company
not saying bad about any of the other ones. But
what's important to me is that we're keeping
most of the servicing. And, yeah, we actually
set a fund aside for these cash plus guarantees,
whereas a lot of the companies are just kind
of, you know, so we have that financial solidarity,
which is important. Yeah. That goes right back
to earlier when I asked, you know, what sets
you guys apart? That's huge. Yeah. And there's
no worse feeling as a buyer than when you make
probably the biggest one of the biggest purchases
of your life up to that point and maybe even
after. And then it's like you're there and they're
nowhere to be, now you're alone. It's like the
first day after the hospital when you have your
kid and all the nurses are helping you, anything
you need, you beep the... Then you go home with
your first child and you're like, well, what
do we do? It kind of feels that way with a house,
you know? And then some companies, some brokers
would just, okay, we're done here. I like that
you're still there for them. Yeah, that's sweet.
Don't know if this is a dumb question or not,
but I feel like it's an it's an important question
because people I found that a lot of people I've
talked to over the years one of their biggest
Fears when buying a house or what they think
is the biggest hurdle is the down payment and
I've heard through the grapevine tick tock. There's
grants. Yeah, yeah. I've heard that it is important.
It isn't important. Is that can you address that?
How is that a big deal? The down payment? Sure.
I mean, there's multiple ways to approach how
much money somebody has to invest in the transaction.
So when we take an application, sorry, and do
our initial consult, we're seeing how much money
they have to work with, how much money they feel
comfortable putting into a transaction, and that
really lends what type of product and recommendation
we're gonna make for a mortgage instrument. So
if they have as little to put down as possible,
we might look at FHA loans that allows you to
roll in quite a bit of your closing costs. Sunny
May, which is a New York specific. program often
has these waves of huge grants up to $30 ,000
that people can use for their down payment and
to lower their loan balances on the interest
rates very good on that as well. So we try and
do as many sunny mazes possible for people that
fit into that program. It's huge. We have a lot
of rural areas in upstate New York. Yes, we do.
And we're just talking about that, actually.
And What's cool is USDA, which we're a direct
USDA lender, is a, they have a guaranteed program
that banks can participate in. It's 100 % financing.
There's a zero down payment, and you can roll
in your closing costs up to a certain percentage.
I mean, I've done USDA's $200 ,000 loan, just
an example, and the borrowers come to the table
with like 1 ,800 bucks. And in the case of veterans,
veterans, I mean, pretty much can roll in as
much as the appraisal will allow. Those are some
solutions for that and actually conventional
has some low down payment programs, too There's
a program called home possible. That's a three
percent down You can roll in closing costs the
interest rates very good and the the mortgage
insurance portion of their payment without getting
too technical Is lower than what it would otherwise
talk about the PMI the problem Exactly. Yeah.
Okay. Yeah. I'm so glad you addressed that I
feel like this is the most important important
part of this interview so far because like I
said I didn't word it correctly, but basically
there's just been a lot of people I've I've met
that thought the down payment is the maker Well,
we can't buy a house. We don't have the money
for a down payment and that's that's kind of
what I meant and you addressed that Yeah, I'm
so glad you you mentioned that there are options
out there. It's not the deal -breaker Yeah, I
do a lot of myth -busting when I'm talking to
borrowers in terms of what they've heard, you
know, I basically like okay, so now that you're
Talking about buying a house just so you know
Everyone's going to turn into an expert. That's
right. Even if they're a renter. Like your uncle,
your parents, your friends. Yeah. Here's what
you need to do. Try not to listen to any of them.
Listen to them, but don't then come to me and
I'll suss it out for you. Exactly. Is there a
couple more questions? Is there any sort of tip
on, you know, first time buyers or buyers in
general that, you know, They should maybe red
flags is there is like what's something everybody
can do to take a step towards? You know buying
the home that everybody should do ahead of time
or and are there any red flags? They should look
for when dealing with someone in the mortgage
broker Broker sure brokering business. Yeah.
Yeah I was like eight. I mean, sorry. No, I got
Well, I'll probably be like wait. What was the
second question what? first step I So I owned
a credit repair company as well back in, I think
I sold it in 2012. So we really take the credit
piece of it seriously and everybody's pretty
hypersensitive right now to credit score due
to credit karma. You know, what's my score and
hard inquiry, I don't want a credit pull and
everybody's really hypersensitive about that.
But the first step really is to not... Guess
at what you should be doing. Don't be a web MD
Google doctor come to somebody like myself come
to us I mean, I love talking to people that aren't
ready and say hey listen Here's here's what I'm
seeing. Here's what you need to do We have a
mortgage coaching calls with people that don't
qualify now that what we call future buyers You
know, we don't say, hey, a lot of banks just
say, hey, sorry, you don't qualify now. Go pay
your credit cards down a little bit. We'll check
again in six months. We stay right with them.
We say, OK, here's a plan. If you save this much
per month, you'll be ready on month three. You'll
qualify for this. we'll give the qualification
back to your realtor and we really put them on
a really defined path. So the first step is to
talk to a qualified loan consultant before you
think you're ready to do it because a good loan
consultant is gonna say, I'm glad you called
me first before you assumed you knew what you
were doing From looking on the internet or assumed
you knew what was happening due to somebody else
who spoke to or some false expert So that's the
first part and I would say any red flags if they
are already working with somebody or they've
been turned down I love looking at turn downs
by the way if anybody's listening that has been
turned down for a mortgage for some reason You
know, give me a call, you know, I take a look
at it. There might be a solution for you right
now. Don't call me. I will not be able to help
you. Call 1 -800 -166 -Joe -Daughter -Morgan's
second look at Joe Morgan. Have you been declined?
Have you been turned down? Well, I got news.
I got good news. Say no to Joe. That's phenomenal.
I got to ask this, too. And again, maybe this
is a dumb question, but The term, it's a buyer's
market. It's a seller's market. I can't wrap
my damn head around this. Is there a way, it's
a broad kind of question, but when is it a buyer's
market? When is it a seller's market? Because
so many mixed reviews on that. So it's all supply
and demand. Right. So when supply is low, it's
a seller's market. Think about it like... It's
something rare like diamonds. There you go. You
know the less diamonds that are in Circulation
the more expensive they are so the less houses
listed for sale the more the seller has competition
for that it right raises prices, so that's Considered
a seller's market now. There are pockets that
turn into buyers markets during that period it
shifts Kind of slowly but if you look at a market
like say, Florida, you know where they peak way
quicker than central New York Oh, you know, it's
more vacation resort, you know and Prices rise
and fall much sharper, and it's a good place
to look for indication of what might be happening
in other areas. It's almost like seeing a crystal
ball cave is happening in Florida. You know,
here we might see flattening. Right now, I think
Florida's prices are starting to flatten a little
bit in certain areas where it might start to
turn more into a buyer's market. Okay. Whereas
I mean, I saw I did more I licensed in Florida.
So I've done Mortgage is there say five years
ago. You know, I just just one example I think
I did a house in Naples not on the water like
two blocks off the water for maybe 650 ,000 and
I think it I'm doing a refinance. It's praise
it like 1 .5 Wow, you know, yeah, and it's like
That type of appreciation in any market in stocks
or anything and you're gonna see it go like this
eventually Yeah, you know where the good thing
about Syracuse in this area is we don't The bubble
doesn't really pop. It just kind of flattens
out for a little while and nothing. It could
stay. Yeah, there's there's no extreme here,
which is a good thing. And I want to. That was
kind of my last question, which is there is a
lot of excitement around micron coming. And I
would assume that's generating a lot of interest
in your field. Yeah. You give us a little bit
of an outlook. Yeah. I feel like now would be
a great time to buy. especially if you want to
flip something, right? Sure, yeah, I mean, we
have a shortage of housing. Back to supply and
demand. Yep, especially taking on Micron. And
I'm not an expert in that particular space, but
I can tell you what I'm seeing is a ripple effect
of this news in mortgage originations and applications,
which is a lot of foreign investors coming in,
a lot of... people looking to invest here to
be landlords because they know that there's a
shortage of housing and these people, you know,
the workers and the boon to the economy is going
to drive more population growth, which by the
way, interestingly enough, we're a member of
center state CEO, which is an excellent resource
to find out a lot about what's going on locally
in the economy. That the Syracuse population
has begun to increase. I think I don't know the
exact but in the past few years, but it was like
for the first time in 50 years or something like
that. Wow, it began to increase. And another
good metric for the buzz in Syracuse, which all
relates into home buying and people needing houses
and things of that nature is the airport Syracuse
Hancock Airport has jumped from like the sixth
busiest to the fourth. In the country? No, in
the state of New York. State of New York, okay.
Oh, God. I was like, wow. We just beat LAX. Yeah,
exactly. So it's like LaGuardia, Kennedy, and
then it was Buffalo, Rochester, Syracuse. And
then Syracuse jumped, which I guess, according
to the economics presentation I saw, that never
happens like for the past two years for the population
in an airport. The the busyness of it, I guess
you'd say to to jump to spots like that. Yeah,
that much that it's just it's rare that it that
it happens and they use it as an indication.
What's happening in Syracuse? That's cool. That's
cool that I didn't know that could be a metric
I didn't know that was a thing obviously I didn't
either until I heard it But it also tells me
that this micron deal is as big of a deal as
people are making it out to be I mean There's
grumblings that this is the most important thing
to happen to this area since the Erie Canal Which
I agree and and and when you talk about the airport
metric That kind of checks out, right? Right.
Yeah, exactly. Exactly. And right up the street
in Utica, Wolfspeed, that's a chip manufacturer.
So there's precedent already. So it's exciting.
I love it. I know. Let's have some fun. So all
right. Enough of this mortgage shit. No. Bore
me. Yeah. No. Joe, something that we haven't
really had a chance to talk about. You and I
both have a background in music and standing
in bands. That's right. And when you think of,
you know, not I'm going to generalize for a second.
When you think of someone who is involved in
in mortgage brokering, you don't really think
of somebody being in a band. And I love that
you break that mold. Tell me about it. What would
you do? Were you the singer? Were you the guitar
player? What was the band like? Let's go. Yeah,
so so dude, I This is fun. So yeah, I basically
I've been wanting to be a rock star since I was
like five sure, right so Kiss was my favorite
band. No kidding. Yep. So I saw Gene Simmons.
I was like, that's what I'm gonna do. Yeah And
so by time I got into high school, I was playing
guitar pretty proficiently writing songs. After
high school, I tried college for like a half
year, dropped out, wrote four songs, printed
tapes, sold them on the street, moved in. You
pretty much did the same thing. I'm just blown
away. Moved, moved into an area actually where
my bass player was going to school, which was
a five college area in Massachusetts. But then
like a year we were playing, you know, four or
five nights a week. You know gaining some popularity
as an original rock band. I was singing playing
guitar writing songs And we had some like some
cool Like little things like we're opening up
for professional bands like god smacked verve
pipe obviously stained who um, My best friend
who's the drummer for stained right now sal giancarelli
Is actually going on tour with them like next
week. Oh, that's great. So they do another tour
So yeah, I had I had a stint doing it now. I
still play like I have guitars around my house
I write some yeah some folk but you know, it's
always there Yeah, it's it's always there and
we had some like band drama. You know how that
goes, right? Of course. You fight with your band?
People used to say to me all the time, you know,
we would play shows and, you know, you'd get
the friend or the person to go, man, it's gotta
be, like, you're living the dream. And I'm like,
living the dream? I'm like, do you know how much
book... I'm like, when we're on stage, that's
the payoff. Everything that goes on before you
get on stage and after with booking and money.
And I think the number one thing, the hardest
part about... Being in a band or being in the
music industry is managing four or five six other
personalities Because you all have to be on the
same page Yep, and everybody's got different
responsibilities different lives different likes
different interests and to keep everybody together
Especially the older you get yeah, it's hard
man. Yeah when you're young, you know, it's it's
everybody does have big personalities. Because
if you're a musician, you got to that point.
I mean, for me, it like saved me from like the
high school blues. Same. You know what I mean?
I'm like, I'm in my room. You know, I was like,
rebel without a clue. You know, I'm like, this'll...
This will make me look great for the girls I'm
gonna hug me. I'm going to the bonfire tonight,
and I'm gonna play Wonderwall Yeah, no I get
it it was You know you and I were on the same
trajectory basically that's awesome thing and
I moved to a college town and found some success
open for four different national acts, but I
just love that you you have that background and
you know nowadays, you know, I think back in
the day it used to be a thing where At some point
you kind of had to go am I gonna keep doing this
or do I have to it was like a definitive ending?
I mean now with the internet You don't need a
record deal like you can record an album whenever
you feel inspired to do it I know it's amazing.
It is absolutely it's better. You could do it
in your house, right? I just cut it cut a record
actually we should jam we could jam we should
jam We should write a record. We could. The Mortgage
Blues. No, I'm in. I think that's what's great
about music in general. Do you? I got to ask
you a couple of questions and then we'll get
you out of here. I'm sorry. Fire away. No, I
got time. This is my favorite question to ask.
I don't even know if we have time for this, but
if you could create the ultimate band, living
or dead, who would be in it? We'll say like guitar,
bass, singer, drummer. We'll just go with if
you want to throw in keyboard, you can. If you
need to think, I'll give you mine. So, John Paul
Jones with bass. Sure, great pick. The ultimate
band, man. Since God Rest His Soul recently,
maybe Neil Peart on drums. Oh my God, I literally
forgot he died. Yeah, Neil Peart, I love that.
Peart. Something Canadian. So far, I'm front
row for this. I love it. So you got drums, you
got bass. Need guitar. Need some guitar. And
remember, it doesn't always have to be the best.
I hate that. It's so hard to pick the best. But
your favorite? Something weird. Or something
they had that they brought to the table or stage.
It's hard being a musician, because you always
want to pick the technical. Of course. So I would
say Stevie Ray Vaughan on guitar. Add some blues,
because you got that 60s vibe. Flavor. Canadian
80s that rush 70s 80s rock. And then Singer.
This is tough. This is really tough. I mean,
because it kind of ruins my question, but it's
like, well, what kind of style are we doing?
I'm not going to pick so -and -so if I'm doing
this. Need somebody that could do anything. That's
it. Let's just say Freddie Mercury. Great pick.
Dude, Doherty, that's a great band. John Paul
Jones. All deceased. Neil Peart. Yeah, that's
going to be a boring show. That's kind of what
I went for. It's going to be like, wow, they're
just laying here. They're not really dead. No,
I know. But for me, I'll give you mine real quick.
I want Carter Buford on the drums from the Dave
Matthews band. Oh, God. Bass, I've got Victor
Wooten. He played in Bella Flack. He's very underrated.
He's insane. Guitar. I want to put. from Floyd,
but just to go, we gotta factor in a lot. Little
sleepy. I'm going Slash. I'm going Slash. Dude,
he's the man. He's the man. I can see the top
hat now, the stove. Yeah. I want him in there
for obviously image and performance, but here's
the thing. Do I think Slash is the greatest guitarist
of all time? Not even close, but he's very good.
He's top two for me, and I'll tell you why. because
I can sing you back his solos. That's how melodic
they were. I could sing you... His phrasing is
amazing. Exactly. I could sing to you the November
Rain solo. I actually have goosebumps thinking
about it. You know the sign of a good solo when
you can hum it back. So that's my reasoning.
Iconic solos. And then for singer, I'm going
with my man, you were talking about full package,
Steven Tyler. Oh God, great pick. I mean, how
could you? How could you do it? I mean, you could
throw them blue. Actually, they had a blues album.
I went on that tour. Honking on Bobo was the
album and I went and saw them. So that was mine.
But I love I love that that question. I always
came up with it and I never had a place to ask
it. And I thought about it. I love the interview.
I was like mass joke. I love that. All right,
Joe Rockstar, Joe Doherty, mortgage consulting
or cross country. Mortgage is that it? Yes it
right perfect Give them some calls to action
numbers websites. What do you got? Yes? You could
just basically Google Joseph Dougherty cross
-country, and I'll come up as the first search
result I'm right you I I give out my personal
cell phone number three one five five six seven
sixty five ninety four I manage all my texts
and communication on the front end through there
and That's basically it get a hold of me Yeah,
Joe Doherty friend of growth mode content in
Good News York hell of a guy rock star mortgage
broker Come back anytime Look for his podcast.
I think we're gonna still they will talk. Yeah,
but yep his podcast powered by growth mode content
coming and Thank you guys for joining us on this.
What's today? Wednesday Wednesday edition of
Good News York Matt and I will be back tomorrow
and we'll see you then Appreciate it