The I Love CVille Show With Jerry Miller! - Kerry Griggs & Bria Stith Joined Keith Smith & Jerry Miller On "Real Talk With Keith Smith!"

Episode Date: February 28, 2025

Kerry Griggs & Bria Stith of Keller Williams Alliance joined Keith Smith & Jerry Miller on “Real Talk With Keith Smith” powered by YES Realty Partners and Yonna Smith! “Real Talk” airs every Friday from 10:15 am – 11 am on The I Love CVille Network! “Real Talk With Keith Smith” is presented by Charlottesville Settlement Company, LLC, El Mariachi Mexican Bar & Grill, Fincham & Associates, Inc., Free Enterprise Forum, Intrastate Service Co and YES Realty Partners.

Good Friday morning, guys. My name is Jerry Miller, and thank you kindly for joining us on Real Talk with Keith Smith. It's an absolute pleasure to connect with you wherever you get your social media or podcasting content. We want to be the water cooler of conversation for a market we call Central Virginia, which is dynamic and roughly 300,000 people strong. You, the viewer and listener, can join us at that water cooler by asking questions and really shaping the conversation of the program. Put your comments in the feed anywhere you're watching, and I will relay it live on air to a panel of talented, talented real estate professionals. Judah Wickhauer is the director of the program. My friend, if you can go to the studio camera and then a four shot as we welcome

the namesake of the show, Keith Smith, who has brought along two very pros pros type of people. Rock stars was the words I was thinking. Kerry Griggs and Bree. So Bree, you're new to the setup here. So I'm going to let you introduce yourself, who you are, where you came from, and how did you get into real estate? And what's your connection with this good looking gentleman to you?

Okay. So I went to school at East Carolina. That's where I ran track. Go Pirates. Go Pirates. Yeah. That's where I ran track. And right after I graduated, I came up here to Charlottesville, where I worked at 29 News for two years. And then after my contract was up, I decided to go into real estate.

But I've always really had a passion for real estate. My dad, he owns a real estate development company, and he's starting a subdivision back in Brunswick. So that started in 2007, and I was always around it. So I've always been interested in it. So I was like, you know, why not just not just you know go go ahead get my real estate license and try and try it out and it's been great I've joined Carrie's team um in November yes around that time around November and um Carrie has been amazing an amazing mentor teaching me the ropes so everything is going good so far she's got a lot of people giving her props already RJ

Tyler says what what up? He's watching the program right now. Tiffany Banks watching the program right now. And viewers and listeners, you can give Bree some props by putting your thoughts in the feed. Keith Smith, I have a feeling this show is going to be quite dynamic, my friend. And I'm going to sit here and listen, which is difficult for me to do, by the way. It's difficult for me to do. But I'm really excited to hear what you guys have to

say. Kerry, for the two or three people who don't know you, a quick intro, and then we're going to get into some market numbers. Yeah, so my name's Kerry Griggs. I'm from Oklahoma. I moved here to the Virginia area about 22 years ago. I met the girl next door. She's my wife now, and she kind of keeps me straight. I've been doing real estate for about seven, going on eight years now. Prior to that, I was a licensed contractor. I still dabble in the contracting world, and I have a business in that as well. But my main focus is real estate and building a team. I have the Griggs Group with Keller Williams,

and I'm just very blessed to be surrounded by a dynamic group of people that help me elevate myself every day so what what psychs me about today is a conversation from what's going on in the market is i'm about as old as dirt and has been in it for 40 years you've been in it for seven yourself for a little over a year into it so i really want to see what the what the perception and what the dynamics are on the market and what you guys have to say. So I posted some numbers. We'll just get into some quick numbers for just a quick throw it out there for the car footprint. What I took a look at was what the first two months of January and February of 24, the year you got in, versus this year.

This is the car footprint. So this is Charlottesville, Albemarle, and Louisa, Favana, and Nelson. So we're actually down in sales, right? So these are actually closed units, 24. We were at 202. We're at 197. So we're about 2.5% down. Medium days on market was a bit of a jump.

We're up about 22%. So we went from 18 days to 22 days. But, you know, prices are going up. We're in 2024 for the first two months. We're at 478. We are now at 510. These are closed units. That's almost 7%, 6.7%. So I'll let either one of you two jump in. What do you think that is? What do you think about that information? Yeah. Do you think that the days on the market have something to do with the price increase being that it was $4.78 last year versus $5.10 this year? Do you think that it's a struggle for buyers to qualify for a higher price point? I think it's two things. I think it's affordability and I think it's the impact of the weather. I think the weather over the two months

with three snowstorms has had a lengthening of DOM. And you can make a legitimate argument, and I'll pass the baton to you guys, that this might be the most challenging time to purchase a home in central Virginia history with rates upticked above 7% and with median sales values and the car footprint. I mean, we're talking over half a million dollars for a median value. When I ran these numbers this morning, because, you know, today's the end of the month, I wanted to run them, I didn't expect to see a 510 number. Yeah, I mean, that one's a little bit shocking, especially considering, you know, 10 years ago you could buy a house for $300,000 versus the 510 that you're seeing today. I think there's a problem with the affordability. But, you know, luckily we're insulated. Kind of here in the Charlottesville area, you have the university, the hospitals, you have Injunct that's all around here.

So the income is not keeping up with the pace of what the housing market is currently doing, but I think there are people still out there looking to buy. The snowstorm doesn't help us either, especially with the days on market. I'm so ready for the snow to be gone. Oh, amen. And bring on that spring weather. But Bree, you know, so I'm going to add a third component to what Jerry said, weather for sure. But from the guy who's been here for a while, we're starting to get to normal day or very close to normal days on market. So, you know, the one twos and five days hasn't historically been normal. Now, for somebody who came in at 2024, right, I think the days on market of 22 days seems very high. So you're having conversations

with buyers and sellers. How are you going to talk about that from days on markets from your perspective? Well, for the buyers that I have now, I just let them know that, you know, it's important for us to put the offers in and make it attractive. I know Carrie was teaching us how to make offers attractive when it comes to the, like, days on market, because I know one of the houses that we had had multiple offers and it's competitive from what I've seen. And then I know I was talking to one of our other team members, Bethany, about the snowstorms and it was like 60 degrees on Monday and everybody started picking up the phone, all of our leads. And we were like, what is going on? How is this even happening? She was like, make sure you make your calls today. It's warm outside.

Everybody's answering. They're trying to buy the home. So, yeah, that's definitely what I've been taught, at least what Carrie's been letting us know. Vincent Brown giving Bree some props, watching the program right now. Ike Anderson watching the program right now. I see agents from six different firms on the feed as we speak. Viewers and listeners, if you have a question, put it in the feed. I'll relay it live on air.

How about Albemarle County? And I'll get out of y'all's way here. Albemarle County, the median sales price in 2024 for Albemarle County, $653,000, 2024. In 2025, the first two months, the median sales price in Alamaro County, $728,000, ladies and gentlemen. Right around that jumbo threshold. And that's 11% jump over the same first two months. 11.5% jump from the last two months. That's three-quarters of a million dollars. That's three-quarters of a million dollars. That's three quarters of a million dollars.

And by the end of the year, it's going to be even higher. 100%. And, you know, from a brief, from an affordability perspective and trying to help first-time homebuyers and trying to help a young person get into housing, you know, how do we as real estate professionals, I know how I handle it and Kerry jumped in, have a conversation with a first-time homebuyer when you were in Albemarle County at a number of 728? Even when you're looking at Havana County, which had a jump of 13%, by the way, from 345 to 390, how do we have these conversations with buyers and keep them in the game and keep them motivated?

How do you approach that conversation? I definitely would say being transparent on everything when it comes to the buying process and just letting them know the prices and letting them know that, you know, if this isn't in your price range, we can look at things like, I know you discussed with me about the community land trust, like homes like that, where they take the land value out of the home price and make it more affordable, or looking outside of that area, maybe it's going to be a longer drive, but we find that prices outside of these areas may be less, so making that drive. So we can, at least I try to talk to them about that.

What about you? What do you say to them? Well, yeah, so, and the reason I wanted to have this conversation, you know, I'm a boomer. I'm an old dude, right? You're a young person, right? And I think a lot of what's going on here, you know, the buyer profile right now is old and wealthy, right? And so how from a, you know, when you have a conversation with your peers, with your younger folks, what are you talking about the housing market, right? Are you seeing your fellow peers, like, just not wanting to get into the game that's what i really want to take a little bit of a dive into you know how does that work from a generational perspective right so

um a lot of my my buyers either if they're on my age or my friends who are around my age who have a job they are leaning more towards renting right now because the home prices are a little bit higher than what they expected when they are thinking about going into the market. So, again, like when I do talk to them, it's more of their salary not matching up with what they can buy. Their affordability. What we would call in our industry the affordability index, what they can afford. Exactly. Carrie, how do you approach it from your peers? You know, I'm in the middle of you guys, so, you know, I have clientele across the board,

so I do have that conversation with them. It's not always easy for them to qualify for the homes in the Charlottesville, Albemarle area, but when we discuss what the price point are, I have a lot of my clients that are pre-qualified for $350,000 and less, and so when we're looking at dynamic like that, we're talking about going out into the counties a little bit, Fluvanna County or even over the mountain, Waynesboro, Stanton, Augusta, and that's where they seem to find that threshold of affordability for them. So let's take a dive into that because while you guys were doing the intro, I crunched numbers for Waynesboro and Augusta County. So the median sales price in 2025 in Augusta County is at $315,000, to your point.

Yep. You know, if you're looking at the $350,000 and below, you got that. But I will add that's a 13% drop than the same time of the year last year, which is at 363. So if you're in the market to buy, that may be the place that you want to start. Yeah, and I think that there are many options. So you just have to be realistic with your buyers. Most of your buyers want the detached single-family home that has got a little bit of yard to it. And realistically, if your budget doesn't allow that,

you can look in places like Grottoes, Waynesboro and Augusta, Stewartstraft, Stanton, and a little farther out. And you can get a detached home for around that price point. But if you want to be a homeowner or have a way to build equity into a property, you may have to look at other alternatives. Manufactured homes are a good one where you can keep the price point a little bit low, and even townhomes, condos. Townhomes, condos usually don't fit for people that are looking to have a little bit of a yard, but if you can talk to them about the green space and the shared common areas, maybe that could be a common ground where they can become a homeowner and secure that. For me, being a homeowner is more about conserving my money

and not having to spend that on rents because I'm not going to get any return on that. If I want to be liquid and I want to be able to move freely, sure, depending on my job market. But if I know that I'm going to be stationary anywhere from five to ten years, I'm going to look to purchase a home. This way, when I sell it, I get some of that equity back be stationary, you know, anywhere from five to 10 years. I'm going to look to purchase a home this way. When I sell it, I get some of that equity back or even, you know, take advantage of the rising prices. So comments coming in quickly, Vanessa Parkhill in Earliesville said the numbers

you just shared reinforced the value of following and watching real talk. Keith advised all the viewers and listeners a year ago that the best time to buy is now, and look, the prices are going up. They are not dropping. There was folks in the market that said the prices would drop. They did not drop. There were folks in the market that said interest rates would drop in the first quarter of this year and at the end of last year. Mortgage professionals that we follow online made those predictions.

That did not happen. They did not have our crystal ball. Keith has said all along the time to buy is now, and he's proven to be correct. Wait till I talk about Flavena County. Go ahead. Woody Fincham says, good morning all. Kerry is a live wire. Try to keep up, Miller and Smith. We love Woody Fincham from Fincham and Associates, one of the best appraisers in the Commonwealth of Virginia, ladies and gentlemen. Brian Draper says, Bree, you're looking so professional. He's giving you some props. Jerron Rawlings is watching the program and giving you some significant props and has some questions. Tova Payne watching the

program right now. Viewers and listeners, put your comments in the feed. I will relay them live on air. Neil Williamson, the president of the Free Enterprise Forum, watching the show. Seven real estate firms that I can count on the show right now. This question from Waynesboro on Kevin Yancey. Do you anticipate increased inventory flooding the market soon? Who wants to tackle that one first? I don't mind. I'll tackle that one.

I hope so. I know that there are builders that are coming into the area that are starting to produce more homes. And I think that's where we've ran into a little bit of a problem. I don't think that the houses that were being built was enough to keep up with the consumers that were looking to purchase I think there were after 2008 I think everybody got a little bit on the skittish side or it just kind of crushed the builders that were out there actually doing an honest business out there and I think that it just made people a little bit hesitant to jump back into the market with as far as like I do see a uptick in the building in the Waynesboro area Waynesboro Stewart's Draft Fishersville area and I always

push towards new build that's just my forte I think well it's smart for the first-time homebuyer yeah assuming they can get in that yeah they can afford it tell them why that's so smart so for, I think it's smart for them because they can kind of predict of how far out they're going to be. And you can get an entry-level home. You don't need all the bells and whistles and the upgrades that you once, you know, are acquiring. It's something that you could build onto later on. The only thing that I don't like about the new construction and the requirements for that is typically, you know, you can see anywhere from a down payment from two to five percent is what the builders want to acquire. And I understand it. You know, if you're making selections and you're,

you know, tailoring it to your needs, the builder wants to have some kind of security. And you can speak from that standpoint, Keith, since you were in that industry. But I think that's just a large chunk of money. I think if they were to do spec homes, which is risky for themselves as well, if they do spec homes and they can advertise that to buyers where they can get in and still put 1% to 2% down on a FHA loan would be very helpful for the buyers. So I'll let Bree chime in here for a second, but I'll add a little context to that. On the flip side to that, the builders, usually the larger ones, and we can have this whole discussion where the missing middle of builders are, right?

But the larger national or regional builders are offering pretty darn good incentives. They are. Right? So that offsets that number. But, Bree, from a first-time homebuyer, particularly in a young person, what I usually suggest is that you don't have to deal. The roof is brand new. HVAC is brand new.

Like down the road, it's not going to be that many problems with the new construction. And definitely the incentives as well. I know that I'm helping a buyer now and he is definitely interested in all of the incentives that we saw with the Greenwood homes that they're doing and also the loans for first-time home buyers as well. So, yeah. So thank you for mentoring Greenwood. I want to give a shout-out to Greenwood Homes. They're partnering with the land trust

I can't divulge the specifics yet But in northern Albemarle County, we're working on producing Quite a few permanent affordable housings. We're not talking one or two. We're talking in the multiple Under a hundred kind of units but back to back to the land trust thing um and back to what what kerry said we just resold a home and i handed the keys to this young for you know first time home buyer a single mother and was in tears never thought she would get into the home ownership thing so what we do for a living is not so much about money.

It is about improving people's lives. Go ahead and chime in, Jerry. Questions coming in quickly. Neil Williamson watching the program, president of the Free Enterprise Forum. He says, for the panel, how do the increased real estate taxes impact affordability units sold? And Michael Buchenski, we're going to get to you next. increased real estate taxes impact affordability units sold and Michael Buchanski we're going to get to you next he's a fantastic mortgage officer with First Heritage mr. Williamson's exact comments while the housing price is

clearly the dominant factor how does the localities property tax impact the buying decision I'll add a little perspective to that County Executive Alamaro County executive Jeff Richards said that he was going to raise the real estate tax rate four cents. His suggestion was a four cent raise on the real estate tax rate. This is

happening at the same time that assessments have noticeably upticked in Albemarle County. So ladies and gentlemen, you have assessments going up at the same time the county executive is saying let's raise the tax rate at the same time. But they're also taking some of that percentage and being used specifically for a very little percentage. A drop in the bucket. $1.4 million. I think it was $1.2 million. And $1.2 million, ladies and gentlemen,

is going to buy a couple of tents and a cooler in Alamaro County. Those are my words here. $1.2 million for developing something in Alamaro County is not going to go very far. So before we answer that, let me tackle the Flavena County market because what Neil is talking about, Flavena County in particular, has seen 20%, 30%, 40%, 50%. Are you a Flavena County? I'm in Flavena County in particular has seen 20, 30, 40, 50 percent. Are you a Flauvenna County? I'm in Flauvenna County. It went up 30 percent. 30 percent. So 2024 versus 2025. One of the reasons I want to talk about this at the end of the year, we were a little bit questioning how the market

was going to be in Flauvenna County because it was tight. They had a 26% increase in closings in 2024 versus 2025. So 2024 was 34. 2025 was 43. These are closed. Days on market went up from 13 to 17. But, hey, folks, the price went up. The closed price went from 345, same two months in 2024, to 390. Then it went up.

We had a 13% jump. So not only are we having a jump in sales price, we're having a jump in taxes. Go back and listen to the show last Friday. Wait until your homeowner's insurance is... I was about to say... Go ahead. Jump in. It's going to be two-fold for that. I don't think we've seen it long enough to experience what it's actually doing to buyers just yet. I think that Flavana County is still an affordable county for most people that are looking to be close to Charlottesville and willing to make that commute. So the prices are more digestible for buyers that

are looking to be close to Charlottesville. And I think that they're looking into Fluvanna County because realistically it's about a 30-minute drive and they'd rather make that drive than come over the mountain in Waynesboro. So I don't think we've had enough time to really feel the effects. I think it is going to take effect on some of them that are looking close to their budget or just kind of pressing up against that threshold. But, you know, along with the tax increases, we also have the insurance, the homeowners insurance going up. That's a bigger issue.

Yeah, that's a bigger issue. And so as those numbers rise, I think it's going to bump a lot of people out of it. I'm just hoping that, you know, more building is being done in the Fluvanna County area. So the answer to that is no. I know, right? Short version, no. You know, I see some builders out there, Liberty Home seems to be cranking out quite a few homes out there. But they're not in a volume that can make it. No, not the volume that we need to satisfy the consumers that we have coming to that market. I think it's going to put a little bit of a strain on there

and slow down the market. But again, I think those are more affordable houses than what you can find in Albemarle County. And I think that's where they're pushing. I even see people going out as far as Louisa and willing to make that drive because, well, quite frankly, your budget. People don't want to rent anymore. Not as much as Louisa and willing to make that drive because, well, quite frankly, your budget. People don't want to rent anymore, not as much as they have in the past because the rents are going up just as much as the housing prices are going up. What do you think, Bree? No, the last point that you said with the rents are going up, and I know I have a friend that was saying rent went up $300 where he was at,

and he's like, I can't do that anymore. So he's now looking to buy as well. So definitely when it comes to the renting aspect that you were just talking about, I definitely agree. So Jerry will jump in and say, what's the best way to hedge inflation? It's to fix your costs. And how do you fix your costs? You buy a house. You buy a house.

Yeah. Now, these are real estate professionals here that are saying you should buy a house. Okay, so we're going to save that out there. But I'm also going to add this out there. If you can't afford to buy a house, how are you going to buy a house? So some folks are stuck in that rent cycle, which I certainly empathize for. Woody Fincham makes this comment. The assessments that went up in Albemarle County are on a two-year cycle.

So he said the increase that happened is on point with where he thinks it should be. So Woody's highlighting that. Is he talking about that or Fulvana County? Because I think Fulvana County is the two-year. I think maybe, Woody, let us know. Albemarle or Fulvana? Give us a little more perspective over there. Mike Buchenski watching the program at First Heritage.

Home prices are likely not going to drop. They may stabilize, but I don't think they're going to be a massive drop. The only thing that's going to increase affordability is a reduction, and interest rate is one of the main things that's going to help once they do drop. And then he highlights some geopolitical aspects of things. Michael Buchenski says, we've seen an actual decrease in rates recently as this is becoming more of a possibility. And he's highlighting the Ukraine war, for example, with why rates may drop. I'll say this.

Rates may drop. And then you guys jump in. Rates may drop. We've been talking about rates dropping for a long time. I mean, I think that conversation has been on this show for at least a year. We talked about rates dropping for a long time. I mean, I think that conversation's been on this show for at least a year. We talked about rates dropping once the election was over. That really hasn't happened. They've dropped maybe a smidge. And the entire time we've been talking about rates dropping, people have decided to wait on the sidelines until rates drop for affordability issues. And prices have just gone up. And not only prices, but the insurance piece that he's

talking about. Everything is going up. So that's something to be mindful when thinking about getting in the game. There's a boatload of comments coming in here. I see your wheels turning. I see your wheels turning. See your wheels turning. Kerry, why don't we start with you before we get to the eight firms watching the show right now. So what was the question? All right. Anywhere you want to go, the affordability is the main piece. Some folks are saying, when's the inventory going to come on the market? Other folks are highlighting the headwinds tied to federal cuts and how it may pertain to Charlottesville and Central Virginia

with a lot of federal jobs in this market. So a lot of talks you can cover here. Okay, so I just want to address some of the things about the affordability. So in our market, we've got to get a little bit creative here because not everybody can afford the interest rates like you had been talking about. I don't foresee the interest rates dropping anytime soon unless there's some kind of major world disaster, war breakout, another pandemic, which I hope that's not the case. But you've got to get creative with the way that you're going to be looking at some of these things. So I know, especially with a VA loan, there are assumable loans, and I'm starting to see more and more of those come back around as people are trying to get to a bigger house. Their families are growing, or they realize they have to be closer back to work, you know,

with the new laws that are coming out and people having to go back in person. They are trying to move closer to those places, and I have a handful of clients that have VA loans They are trying to move closer to those places and I have a handful of clients that have VA loans that are trying to move now and with the assumable loans you know you can get somewhere between three and a half and four percent because they refinance during. They're a little tricky though. They are tricky. That's a difficult needle to thread. It is it is and so what I. You got to be a bit sophisticated. You do. But you also you know, you've got to do your research. And I've done a couple of assumable loans. And so you just have to make both parties aware. Hey, you're going to have to probably use the same lender. Not probably.

You're going to have to use the same lender unless there's somebody else that has found a different way. And you're going to expect about 45 to 60 days for that transaction to close. So when I'm about ready to say, well, probably get me into trouble with somebody. Right. So the unicorn in our industry, the unicorn years are gone, right? Where if you had a pulse, you could sell and buy something. If it had four walls and a roof, it flew off. Now is when a pro really shows up, right? And I've said this on the show multiple times. I'm more excited about the real estate market now than I've been in forever. Amen. Right? Because it takes a certain level of professionalism to be able to get it from point A to point B. And everything from a cash deal to a VA deal has its own set of issues that you have to navigate.

So I just want to throw it on the table, and I'll let you finish. Bree, jump in, please. I can see your wheels turning. Okay. There's a lot of different ways that you can do it like i said va is just one way if you can do the assumable loan uh i know you got vhda which some lenders will offer that uh the days of buying a house with no money down is just unrealistic a buyer has to prep in this market to know that there's going to be costs associated with that even if you get a va or a usda loan you still

have your earnest money deposit, your home inspection, and your appraisal fee. That's at the minimum that you're going to have to pay. And sometimes you can skirt around the down payment if you can go with VHDA. If you have to go FHA loan, if you weren't a vet and it wasn't out in the counties, you don't qualify for USDA. And with the VA loan, that's a zero percent down so VHD a product is something that you can use and there's other first-time home buyer programs you can do Piedmont Housing Alliance there's a couple different programs out there that you can utilize you just have to be savvy enough like you said it's where the real professionals are going to shine now is you

have to get creative it ain't just the cookie cutter like let's write a contract let's do a deal together because you're standing there you're in the right place right time and you have to get creative. It ain't just the cookie cutter, like, let's write a contract, let's do a deal together because you're standing there, you're in the right place, right time, and you have a pulse and a real estate license. I think those days are gone. Yeah, and then just to piggyback off of what you said, when it comes to buyers have to prepare themselves for what they're getting into, they just have to do their due diligence

and make sure they know about all of the resources out there for them. And definitely look into, you know, all of the loans that are out there as well for first-time homebuyers or just to help them in that case. Coach B says inventory is not going to come on the market until interest rates drop because about 60% of homeowners have an interest rate under 4% or under 5%. And there's no need for them to come off that rate until they can get something similar brian on your facebook page brie says are we going to see rates in the four percent at four percent in the next year or two i just answered his question and said no we're not but i promised him that we would ask that live on air we're going to win the lottery this week, right? He wants to know.

He says he wants to buy a house. He might be scooping up some business over there, Bree. He says he wants to buy a house, but the 6.5% and 7% mortgage is a sticker shock for him, and it's too high for him. He wants to know 4%. Is that going to happen in the next year or two? Well, I'm just going to piggyback off of you.

I don't think so um do you have can you well i'll tell you what if we had a thousand bucks every time somebody predicted the rates would chop but we would own the island i go to down in the caribbean right so you know it the best advice you can give to that particular client is to sit down, buy them a cup of coffee or lunch, and get to understand exactly what they're trying to achieve and start doing the math, right? And, you know, everything is going up. We'll talk about Greene County in a while,

but you have to kind of do the math. Well, if I don't get in now and prices are going to continue to increase, I've said this on the show, I've caught a lot of flack for this, but inventory isn't going to change for the next 10 years. It is unless, if interest rates come down, inventory will grow a little bit. But unless new units are produced, the pie of what everybody's trying to buy just isn't going to get bigger, right? But everybody's coming here. You're right. And everybody's coming here with multiple low six figures,

middle six-figure numbers. We're at 124,200. I'll bet you that number of medium area income, I'll bet you when they come out in April, that number is going to go north of it, and that number just keeps on climbing. And unless you increase the inventory, which means new homes, even at 4%, I don't think it's going to change the impact of the inventory. What he was referencing there is the HUD median household income, family household income.

Family is key. Thank you. It's $124,200. Thank you. And that was for the 2024 year. Correct. The 2023 year. The 2024 number is going to come out soon. And that 24 number is expected to be higher. A lot of folks are highlighting the federal cuts

that are happening here and the impact it could have on real estate. The federal cuts are starting to creep into the Charlottesville, Central Virginia market, folks. And more cuts are expected. Does anyone want to touch on that? Keith, you want to begin on that topic? Yeah, so I'm tracking what's happening up in Northern Virginia at the moment. And I want to preface this, at the moment, it seems to be balanced to 2024. But we're so early into this process that I suspect that number is going to change a little bit up there. But our inventory here is so low that even if certain folks rotate out of this area that's in the federal workforce,

I don't think it's going to raise the inventory that much. This also could be a little bit of why the DOMs are a little bit long, right? That could be another reason that, you know, if you take a deeper dive into it. I think the DC cuts are going to impact this market with more demand, more buyers. That's the real problem. That's the real problem. So even the few, and I was trying to delicately do this

without offending anybody, keeping sensitivities out there, just a simple math problem, I think the few that we're going to lose here versus the ones that are moving from down here, it's just not going to balance. Yeah, I don't think so either. We just need more houses, guys, and it's that simple. I want to touch on two things since we're talking about more houses, and you had hit the nail on the head. I just think we need more inventory, more new constructions being built.

I think there would be builders willing to do that, but what's the real problem here? We don't have enough skilled trade labor to satisfy what the builder's demands are going to be, and I think that we need to do a little bit of investing into the education or into even the work program, I think we need to shift the, you know, again, I might catch a little bit of slack for this, but like the college mindset, those that are not willing to go into the college, let's incentivize them to go into the trades and then, you know, offer grants and scholarships

for those kind of people. We've talked about this before, Bree. My little brother in Richmond, I'm the oldest of five, I call him doctor because he's a high-end trim carpenter in Richmond. Love it already. And he makes more than some doctors that I know. And it's because he's really, really good at what he does. He's high-end. He shows up with his tools, does his job, and gets out. And that's what Kerry's talking about. There's just not enough skilled training. But Kerry, if we can't get projects approved and rezoned and go through the site plan process, for those real estate agents out there, I sent a white paper out to everybody this week

where it lays out where I think we need to go to get this fixed. But unless we can, at the level of getting new projects, you're not going to need. That's true. That's true. We've got to do something about the requirements for the zoning and the approval process, right? It's very difficult to go through these processes sometimes.

There's a bunch of red tape that is involved in that. I submitted a building permit just for an addition not too long ago. Which county? What's that? Which county? Avon Mall. And it was just like, you know, they just needed more and more and more documents. I had to do it twice. One because, you know, it was I was trying to help a homeowner do it themselves, right? And so, you know, the payment didn't, you know, I submitted application and everything. And then at the end of 2024, and then there was a disconnect for, you know, I submitted application and everything. And then at the end of 2024, and then there was a disconnect for, you know, making the payment. And then I had to resubmit the application for that as well.

And so, you know, it just – What did you try to get the CO on that? It was just a difficult process. And, you know, Jeff Baker with the county, he was very responsive for it. And, you know, I leverage him every chance I get. And he's a really good guy to utilize there as well but i think until the approval process and and we're not even talking about big projects you know with the new ordinance where you can build multi-family

units on a particular lot i think that's going to be helpful it's just trying to get the trades in there to do that and get in the zoning part i think that there needs to be more education around that too because there are still some real estate agents out there that don't understand it fully. No, I think I might be the only guy on the table here that says that we should not build more housing. I'm the only one of the three here. I don't know your perspective on that. I do know your perspective. I know Keith's perspective. I see Neil's perspective. As a father of two, and as someone who's been here 25 years, I'm someone that says, let's start prioritizing quality of life and infrastructure

in schools before we add additional density. And I'm good with that. So many kids that are living in working, uh, learning, I should say in trailers around schools. And if anyone's trying to make it from the Keswick area to Charlottesville for work, they're spending 25 or 30 minutes in their car just to drive. And 15 years ago, that was not the case. I don't know how long it takes you to get from Fluvanna to this studio, but I would imagine on some days it's north

of 30 minutes. Between 25 and 30 minutes. And that was not the case. That did not used to be the case. No, my... You talk to someone who lives in Keswick or Glenmore and they say traffic on Pantos is snarling constantly. So I will tell you... It's an absolute nightmare.

I will tell you, I had a doctor's appointment this morning at the VA clinic on 250. I have to draw blood to do all my chems on a regular basis. That was not a 25, 30-minute drive. That was a 45- minute drive because of the traffic and I needed to be there at 8.30 in the morning. And if we keep building more density, the traffic is going to worsen

and the quality of life will suffer. So I get all that. I do. And I understand your position here. You guys make a living in selling houses. Well, no, no, no. So look. I mean, you do.

100%. But here's the pushback. This is Bree when you need to jump in. I got you. I mean, you do. 100%. But here's the pushback. This is Bree when you need to jump in. I got you. No, I'm listening. So here's the pushback. I get it. Us pros, we're going to do well, right? The problem is,

where is the first-time homebuyer going to go? Now, if I and you and people that can afford it are good with raising taxes, good with raising prices, cool. But then we should not be talking about housing affordability or affordable housing. If that's what the community wants and that's cool, then it is what it is. Well, to this point, this point in Alamaro County, the community has wanted the development area to stay at 5% or below. Oh, I have some news on that.

Okay. We do not have the political capital here to expand the development area. It's interesting what they're talking about. I'll jump into that a little bit later. Green County, guys. Talk about where new construction is coming. They've got some water issues they need to get to, but they've got about 1,500 to 2,000 new

houses going through it. 2024, there was 19 transactions first two months. 2025, 22, that's up 18%. Days on market was a bit of a 22% jump, went from 27 days to 43. But look at the price. It went from first two months of 350 to 422. That's a 20% jump in just those two snaps out of those two months.

I think when you start seeing new construction getting back there, you're going to see that percentage kind of balance out a little bit. Viewers and listeners are chiming in with questions, and they're coming in quickly. Candice is watching the program from the Yes Realty Partners team. She's absolutely fantastic. And Candice highlights that if there were more skilled labors and trades, then all of the days on market would go down. When buyers could get actual renovations and projects completed in a timely manner and not have to pay an arm and a leg,

the properties that are in need of updates and renovations are not attractive to most people because they don't have capacity to do it themselves. 100%. And at that point, I'll highlight Interstate Service Company, a home's best friend. It's a multi-generation, locally-owned business, a partner of this show, Interstate Service Company, a home's best friend. It's a multi-generation, locally owned business, a partner of this show, Interstate Service Company for those home renovation needs. Neil Williamson highlights how will the immigration policies that the President's putting into play impact the trades in the workforce around housing. It's something I highlighted very early on, that these immigration policies would be an inflationary headwind because the labor that's tied to a lot of these remodeling and home building projects

are, I'll cut to the chase, oftentimes undocumented folks that are working on job sites. And that's just a fact, people. It is what it is. Carrie, you know this business inside and out here. You want to answer Mr. Williamson's question on how immigration policies could impact trades, workforce, remodeling, and housing? Yeah, I do. And like you said, a lot of the folks that I've worked with in the past have been undocumented workers. They're great skilled laborers, and they get the job done, and they do it for a reasonable price. I think it's definitely going to hurt the contracting trades portion of it. We just have to, like I said, I think that we

need to incentivize those young men coming, or women, coming out of the schools that are not looking to go into college and want to learn a skill that can, you know, help them throughout their career or their lifespan, and incentivize those guys doing that. I do think that it's going to hurt a little bit if the immigration policies, you know, go according to his plan. So, you know, I can't really speak much on that because I haven't felt the impact of that just yet because it's such a new process. But I do think that it's going to affect us. The Gen Zers and younger, everyone wants to be a TikToker and an influencer and make money on screens. I'm telling you right now, Carrie's exactly right. If you put a little work into being a master plumber or a skilled carpenter, it's six figures many times over.

Has anyone tried to get on the phone and get an electrician or a plumber to come to your house? They're booked out for weeks. Yeah. I just. If they even answer your phone. Even if they will do the job. Some of them have said to us with our projects. Now we have a team that we work with. The one missing component we don't have is the electrician

for any that are watching out there. But I had one electrician say, I don't go to jobs that are under $750. Yeah. That's what his exact words to me. It's not worth my time unless it's under over 750. I was just sitting at a table yesterday with a bunch of contractors, electricians to be exact, and they were talking about what they earned per job, a service call. They're not going to show up for anything less than $150. If they've got to get a ladder out, that's another $100. So there is good money in those trades.

It's hard work. It's manual labor. And when you have people that are making a living doing, you know, things on TikTok or making funny videos, it's very appealing to go towards that. But realistically, you only have a certain percentage of people that are really realistically doing that. And if you were to just buckle down and learn the trades for a year, you can make great money. I mean, most electricians are charging $125, $150 an hour. I mean, you learn the minimum. Breezen, jump in on here. This is a 300,000 person market here. I was about to say, now when it comes to trades and electricians, anybody like that,

they're probably making great money. And I they they are making great money six figures but also once you get all of that down if they market their stuff on instagram do you they can double that yeah that's how so that's where you tie the two together you can tie the two together if somebody's like oh maybe i'll just do the so the contact content creation you can do both it's not you know you can't you don't have to pick one or the other. I'll put how difficult it is to be an influencer into perspective. This is a 300,000 person market,

Central Virginia. And there is one person in a 300,000 person market that's making real money strictly on using screens and content creation. One person in a 300,000 person market. That's it.

Again, that's as a marketing backup. But Bria, it's funny. This is how the show typically goes. And it just kind of pivots. But as this topic came up, and it didn't dawn on me until you guys were talking about it. Yesterday, I had my truck in Toyota

in flow on that. And I just didn't that didn't register when i went to go pick up the truck every single one of the mechanics with the exception of one was a female was not only a female it was a female of color right and you know and i started talking to him because that's who i am right i went in there blah blah blah blah and they're doing very well yeah right and uh was was was really cool and i just it didn't really dawn on me that topic until this conversation that there was a half a dozen mechanics in there one was a male every one of them was a female and most of them was a female

of color so i thought that was pretty cool where was that uh flow okay oh wow i just walked in i said well this is cool. Yeah. I didn't think anything of it at the time. So the show kind of brought it back out. Yeah. How about this question that's come in? How do you convince first-time homebuyers that the single-family detached home with the backyard and the white picket fence may not be the best path to pursue initially?

Great question. Who wants to? Bree, you want to tackle that one first? I mean, you offer some perspective, then I'll share some perspective. I can say when it comes to a first-time home buyer, you know, especially if they're trying to buy, like here in Charlottesville, it's a lot of compromising. You have to figure out what you actually need instead of trying to get that white picket fence that, you know, you dreamed of when you were 10 or 11.

You definitely have to, I guess, just be realistic about it. Compromise. Compromise expectations. Yeah, I think by just talking to them, I think they'll kind of come to that conclusion themselves. If you do the data like Keith has presented for us, if you show them the data, they pretty much come to the conclusion themselves. If you do the data like Keith has presented for us, if you show them the data, they pretty much come to the conclusion themselves. Okay, well, how much are you qualified for? These are the items that you're looking at. And I simply just turn the screen around and I say, these are the 13 houses that you guys have to choose from with the criterias that you're looking at. And if it is not in their price point, they kind of come to the realization themselves.

I don't necessarily have to tell them every single time. But I just show them the data. And with the data, and then we expand out just a little bit. And we say, okay, well, if you're looking to have, I always ask them, what are your must-haves and what are your wish list items? I must have three bedrooms, two baths.

Okay, I must have a yard for my dog. All right, fantastic. What are some of your wish list items? And when it comes to their wish list item, I would love to have a basement or a garage or whatever the case may be. And then as we type those in there, it kind of just dwindles down the list. And then at that point, if they're open and they have the time, really time is probably the biggest thing for most new construction. If they have the time, really time is probably the biggest thing for most new construction. If they have the time, I offer the new construction because there are off builders that can do that for you. So I'm going to tie that all together.

Just helped three first-time homebuyers buy a Colonial Circle in Flavana County. Attacked, to Jerry's point, they're an attached product. They wanted detached, right? But they wanted to get in. These are first-time homebuyers. They're available right now at a 304 number. They have units built. They can take immediate occupancy.

They're offering pretty darn good incentives. I don't want to go into too much of that because they change from week to week or month to month on that. But the conversation was, okay, I'm going to get into the housing ladder, get on the first rung, start this as my first thing. It's not my forever home.

Start building some appreciation and some equity, and then potentially down the road, if inventory ever grows up and goes up and interest rates drop down, to go ahead and move it. But that was a great opportunity to help. We helped three first-time homebuyers Mike kuchinsky Mike many first-time homebuyers have not even done a household budget or they think that their maximum payment they can do is a certain amount but once you show them after tax income their monthly debts their other bills what they can actually afford it surprises them it's about educating the first-time homebuyer about their buying power.

And it's usually more than they think. Yeah. Vanessa says, Flo Volkswagen has a sign on their wall that says their labor rate for service is $175 an hour. There you go. Obviously, that's not what the mechanic is getting, but still, $175 an hour. Yeah. Eric Thompson watching the program.

The fabulous Kerry Griggs has just got fans all over Central Virginia and the Chattanooga Valley, including Erica Cavanaugh, Dante Diaz, Daniel Romano, Sarah Taylor, James Avery, Erin Franke, Catherine Murphy, and not to be outdone, frankly,

she's got the most fans of all of us right here. It's Bree, and it's not even close. Let's talk about that. Kim Caskell, give her some love right now. Joyce Washington, Stephanie Malone, Catherine Dilworth, I can continue if you want me to. Kelly Gossie watching the program. Bree's got fans everywhere here. I just brag on her a little bit.

She did win Social Media Influencer of the Year in Keller Williams and being here less than a year. She's doing her thing. When she came on to the team, she brought, what was it, 16 or 17 listings to the team. She's doing a fantastic job, and she's really leveraging the social media. This is her platform. Very nice.

Thank you so much. What's been your biggest challenge here? There you go. You're approaching the one-year marker. Is it May, the one-year marker? Yes. Okay, how about this question? Here's the most challenging question of the show right now.

The easy stuff is, I mean, I think a lot of stuff comes easy to you. What's been the most challenging thing so far? I feel like the most challenging thing has been, let's see. Kerry Griggs. Kerry, yeah, me. No, he is. So definitely tackling the investment properties, the eight investment properties that we have to sell, has definitely been challenging. But I've been learning each transaction that everything is going to be different.

You can't expect the same thing over and over again. It's going to be different. The same stakes, it's going to be different. You can't expect the same thing over and over again. It's going to be different. The same mistakes, it's going to be different mistakes every time. The biggest thing, though, is just to learn from each of them and try not to do the same mistake again. So that's definitely, I believe, the challenges, the transactions that are not the best, but you make them the best and try to execute it.

So 24 months ago, you had a vision. Yes. Right? We're now a year in. 24 months ago, she was on television, right? Yes. Yeah. She was on NBC 29, the NBC affiliate.

Let me rephrase that. 24 months ago, you were a vision. She was on TV. And you're now in the real estate. To expand on Jerry's question, what's the one thing that totally surprised you that you did not expect? I mean, you got into the game at one of the hardest times in the history of real estate to get in the game. I actually think it's the best time.

You think it's the best time? A hundred percent. See, I disagree with him. The reason he says that is because he's been here since 1987. Thank you. Usually he says 18. A lot of people would say the easiest time to get into real estate was in 2021, 2022, when

homes were trading like packs of gum, like snicker bars. Big time pushback on that, but I'm going to let you answer first, then I'll push back. Tell you why I think this is a good time. Okay, so you said the most challenging thing.

No, what surprised you the most? Shocked me the most. Okay, so when it comes to real estate, I knew that it was going to be hard, but this is hard work. If you're not a hard worker, I could see a lot of people just being like, you know, this is too much. I can't. But this is definitely hard work. It's not anything that you can just sit back and just be like, oh, the buyers are going to come to me. I'm going to find the seller.

It's like walking around the street. It's hard work, and you definitely have to learn to dive in and really get down and dirty and get everything done. Well said. You know what I think it is? There's this misconception of this game because it shows like Selling Sunset on Netflix or Million Dollar Listing on Bravo where it looks like it's just like Louis Vuitton and Gucci and Lamborghinis and Porsches and nice handbags and stacks of paper. And the reality is to make a deal materialize from start to finish is an effing grind. It is a grind to get a deal to the closing table. I'm glad you say that because in our office, you know, we have standards for the team. And, you know, we try to close one deal per month is what I've set for the agents. I have a team of 10 of us and all seven of my agents, including myself, other than myself, are about a year of real estate underneath their belt.

And so we have a standard, which one transaction per month is the minimum requirement. And so we do trainings every Tuesday. And so a lot of times I am showing training videos of Ryan Serhant and tying that to this market. And if you listen to his story, it looks great now, but the struggles that he had in the beginning and his aha moments is kind of where we learn from as well. And just to watch any of them, the first couple of years of it, I think it takes about three years before you really get

into the group of three. 100%. I was literally going to say minimum two, somewhere between two to three years. Once you get into that three-year mark, then you're starting to be known amongst peers. But that's like any other business, right? When you own a business, if you're not starting to turn a profit somewhere between three and four, then it's time to reevaluate what you're doing. And a lot of real estate agents don't understand they own a business, right?

To Jerry's point. So this is pure hard work. PHW. Push back on Jerry. I think this is the best time for you to get into the business. If you got in in the unicorn years and you now need to do business with it, your head's exploding because you have no idea how. If you got in in the unicorn years, you'll at least be making some money. You're not making it now and that's the real problem. And that's the point. So let me finish my train of thought, Jerry.

So now, welcome to Keith and Joe. We love each other dearly so that you know this. But if you get in now, put in your two to three years, pure hard work, you will learn how to do the business. You will adjust.

You will be able to adapt to any market change because guess what's going to change? The market. It'll change 12 months from now. It'll change 24 months from now. It'll change 36 months from now. But the people that got in that had a pulse that was right in, I mean, we talked about on the show,

these agents were putting on Facebook, I just sold a house in 13 seconds. what the hell you thought we were going to get sued yeah right so you know bria i i agree that she's getting in at a great time right now because right now she had talked about her investment properties and she is she uh i think she has eight of them she is making the uphill climb like they're not easy processes and you know she's learning in the trenches right now. And some of these transactions that she's working

are some of the hardest ones that you can think of. She's running seller financing for somebody less than a year in. I mean, she's going the uphill battle. And she's learning all the things that she needs to know now. The rest of these deals will be super easy to her, or at least within the scope of like what is manageable and now she's juggling all eight of these plus juggling eight new constructions as well and so i think she's learning she's putting in her salt now in order to be that great agent that she and

i had this conversation right so if you show up to this real estate business right now and if you don't have at least 12 months of carrying cost, then you ought not to get into this business. If you do, if you have 12 to 24 months of carrying... 12 is light. The deal's going to take 90 days to close before you get paid. I understand that.

He's basically saying for the viewers and listeners what he means by that. If you don't have 12 months of your bills paid minimum, do not become a real estate agent or have a side hustle while you're trying to learn the game that's maybe well well well and this is not the I'm gonna get in trouble because mr. Smith's gonna hit me this afternoon for saying this in my opinion you know being a full-service professional full-time is really where you need to be now if you're that doesn't mean agents do not do dual careers.

It works for certain agents. But if you want to make this a profession, you need to be doing this full-time. Even if it's something like dealing with housing that can pay you, that you're still in the real estate world. In the game. In the game. That can definitely be a possibility too. I just did a team meeting the other day,

and like you said, 12 months of that reserve. Realistically, if you look at it and you draw a linear line and you put all 12 months on there, you can be doing all the right things. Here we are in February, about to be March. You can be doing all the right things. You're making your phone calls, you're closing clients. But if you think about something, okay, you got a new construction. Now you're nine months out. You're not going to be closing on that until September. Right. And then, so that's one deal that you have. And then let's say you have somebody that is, has a home to sell.

Okay. Well you have another three months out, so that's June. So that time frame between March and June and your first paycheck, even though you're doing all the right things. And it could blow up at the last minute. And it could blow up at the last minute, but you're doing all the right things. Or you have a client that needs credit repair for the next six months, and now you're in the December time frame. That length of time in there, I think you just have to be realistic on what you are actually capable of doing because no one's going to get in the real estate industry, farm that first client, and then have it closing in that 30 days.

I'll take it a step further than that here. You think about the real estate industry in Central Virginia. I will say this. I think it is the most competitive category of doing business in Central Virginia, except for maybe coffee shops. Yeah. There's a coffee shop on every damn corner. There's a real estate agent on every damn corner. How many agents are in car? Is it, it's above a thousand, right? 1,400. 1,400 agents in a 300. That's bananas right there. Yeah. This is the most competitive category of business in central Virginia, except for maybe coffee shops. And that's not just, so that's just in car. And if you are in that Louisa Fluvanna, Orange Triangle, Gordonsville Triangle, where you also have the Northern Virginia,

the Bright system coming along with it, along with the Richmond CVR agents. I mean, you're in a competitive market right there. Yeah. The Richmond and Northern Virginia agents are infiltrating here and you guys are infiltrating over there. And the reason that's happening is because there's not much inventory. You're chasing the money. Yeah, you're chasing the money. That's what's happening here. Comments are coming in really quickly as we wind down the program here. This is a great comment that's come in. What's the advice that you would give, and we're kind of talking about this now, for someone who's contemplating a career shift into real estate? You want to go on that one? I definitely would. So if you're thinking about going into real estate,

I would definitely say, for one, don't quit your job just yet. That was one advice that somebody gave me, which was amazing. Don't quit your job as soon as you pass the test. Don't do it. Keep it with you. The second thing is to definitely interview brokerages. Make sure you find a place that fits you. One brokerage may not fit someone else, but it may not fit you. So find someone that fits your personality, which you like, your training. Find someone that fits what you like. Next thing is to find a mentor,

definitely. I was able to get on a good team when it comes to Carrie. I also have Keller Williams, people like Esalisa Herndon, she's great, Jason Kirby, anybody. Find a good mentor. Yes, just find a good mentor to be able to answer your questions and to get you along because this is hard work, again, but you can do it. Well said, Bree. Carrie and Keith, some closing thoughts here. Well, I'll bring you back off the real estate, getting into the real estate game. It is a life-changing industry. I'm very blessed to have been in this industry.

I joined with Keller Williams because I like their motto, God, Family, Career, and that's kind of what fits in my lifestyle. I've been very blessed to be surrounded by great people. I was actually dual career when I first started. I was a contractor, kitchen and bath designer, and a real estate agent at the same time. People say it's simple, but it's not easy. It is a grind. You really do have to put in the work, and I don't care if business is coming to you. You still have to write the contracts, meet the clients, do the home inspections, and all the things that go along with it.

While juggling both being a business owner, and quite frankly, that's how I allow my agents to operate. They're a business owner within the group, right? We're not a real estate team. We're a wealth building team. We talk about goals and what they want to do and how they spend their money, investment properties, and things like that. Because at the end of the day, real estate market, it goes up and down. And so in order to avoid that roller coaster, we've got to have things in place in order to offset when the down times do come. So anybody interested in getting in this industry,

just realize that it's going to be competitive, but you can do it, and it's life-changing. Well said. Keith Smith, some closing thoughts. You've got to have that kind of can-do spirit, right, and this independent spirit to go ahead and make it work. The positive sides of all this, we're talking about the hard work and all that stuff, but when you get to that point, you're your own boss. You set your own schedules. If you decide to take a couple days off to go

visit grandkids, then you can go take a couple days off to go grand. But you'll have your phone with you as my phone is ringing. Right now. You need to always do business. This is more of a like this is a lifestyle business combination right and you've got to be able to merge the two together let me turn this thing off here so look guys thank you for coming in i i always

know that these conversations particularly with kerry is is great and thank you bria for for coming in and talking to you crushing yeah you're great, you're crushing. Thank you for having me. You're great. Carrie, you're great. You're going to be a super success. I know that. Thank you. I've been doing this long enough to know this. Thank you. That's what I thought, too.

She's going to be a good one. She's going to crush it. All you guys crush it. Guys, the show is archived online at realtalkwithkeysmith.com. It's archived wherever you get your social media and podcasting content. I'm seeing a lot of people saying the show was absolutely fantastic. Thank you for watching the program. The I Love Seville show is up at 1230, where, folks, we have a boatload to cover.

Thank you kindly for joining us. So long. All right. Nice and done. It's going to tell us when the mics and cameras are off. They're going to be off here shortly. Thank you.