🍷 Welcome to Vino with Vito and Dave Taramina! 🍇 Today, Vito and Dave delve into a captivating discussion about the diverse landscape of homebuyers and the changing face of real estate. Join us for an insightful exploration of key segments driving the market!
🔥 In this episode, Vito and Dave share their unfiltered thoughts on various topics, including:
🇮🇹 Italian Wine Delight: From French finds to special Italian guests, get ready for a wine-filled journey!
🏡 The Power of Homeownership: Discover the evolving dynamics and cultural influences shaping today’s real estate landscape.
💡 Financial Insights: Gain valuable insights into emerging trends and the future of mortgage lending.
👥 Building Community: Explore the importance of diversity and inclusivity in real estate practices.
📌 Don’t miss out on this candid conversation with Vito and Dave! Whether you’re a seasoned realtor, mortgage professional, or aspiring homeowner, there’s something for everyone in this episode. Join the discussion, and let’s uncork the possibilities together! 🎙️
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CG media welcome to Vino with veto and Dave taramina Dave today I think we’re going to talk about a couple different things okay one thing I want to let everybody know I have actually wine you bought but you bought French cheap wine but that’s all right you know what let
Me put the cork in here and again thank you for my daughter Victoria for bringing this to me yes um actually GNA have a wine maker coming from Italy nice okay yeah maybe you can buy some of his wine and keep bringing it to the show yes but uh we’re definitely we
Got a couple good things going on one of the things is going to be the wine maker here coming from hopefully I can have them on our show before we do a it’s kind of like a wine tasting and U it’s going to be at a held
At a special place and uh you know we’ll we’ll talk about that maybe in the next episode where we’re going to hold that but you know something different like on location you on location look at you look at me yeah look at me I’m all dressed up like I
Told you in the other episodes you know the older people you know when you get my age you want to look good you’re wearing the same shirt for for two weeks in a row nah come on we’re just don’t be saying that same collar everything else but I’m wearing my beautiful Rober
Graham limited edition um but today Dave I’m gonna ask you you know we’re gonna be serious today we’re gonna be serious actually we’re gonna actually be serious and uh who do you find that has the most buying power right now oh as you know they want to go
Buy a house again you being in the mortgage business and I’m going to give you a plug for Guaranteed Rate okay now we all know Dave went to Guaranteed Rate here now Guaranteed Rate they guarantee you a rate right they guarantee you any rate any rate any rate
Any but uh Dave quite really who who do you think has the most buyer power because again you’re in the mortgage business you know that more than I would do being in the real estate business so let’s bring it out to to all our viewers
Here and this way maybe you can help me and help a lot of other real estate agents to kind of focus yeah to to you know these people here you know to buy a home definitely so um so yeah so absolutely so you know I’ve been March 1
So we’re it’s February 23rd right now March 1 will be 25 years they’ve been in the mortgage business which is just unbelievable W happy silver anniversary thank you and are you married 25 years too I’m not married I’m married uh uh oh my God uh 17 years oh Mar I hope you
Were listening to that I have it written inside my ring my anniversary you got look look Marella if I don’t know if everybody knows but Mella is my goddaughter oh boy you’re in trouble now L she doesn’t remember either so it’s okay but you
Know the point is is that um you know I this is a very important uh part of the mortgage business for me right like we are you know America from the beginning of time has always been a diverse Nation right we’re a country of immigrants your first generation well actually you were
Born in another country born in y so my brothers and I are um first generation of our family to be born um in America so you know all our relatives are in Italy right so we’re first generation so um you know it’s you know homeownership and immigration and immigrants um you
Know they go hand in hand since the founding of of our country right so this is a very important topic to me for me right um in fact I I’m glad I brought it up then I’ll tell you and I just want everybody to know this show is unedited
We just come here we talk we don’t know what we’re going to talk about whatever comes to our mind may hear a cell phone ring yeah yeah the last episode yeah absolutely so this is something that’s you know important to me and dear to me
Right so um so and it’s Tim Leu I we’ll talk about a seminar that I was at last night but um so so there’s different um segments right of of home buyers right now right so let’s talk about um home buying segment and then let’s talk about
Uh overall Finance right so and how that ties directly to your audience which is you know Realtors and and mortgage reps right so let’s start with this I was at a seminar last night that was hosted by the New Jersey Financial Planning Association at um Monclair Brewery in
Monclair it’s give him a shout out okay there great great I don’t drink beer but we’ll give him a shout out I drink beer either but I got to tell you it was I’ve had I had a beer there I had a uh raspberry Shanty raspberry Shanty it was
Good I don’t even want to go there but I actually bought some to go so it was very good but it was hosted by Franklin Templeton right and it was keed towards financial planners but you know mortgages and and real estate that’s a huge part of you know probably the
Biggest part of everyone’s financial plan right so it kind of was a seamless to our business and he went over different um segments and we’ll zero in on like two that he went over right so um one of them was the Hispanic um you know the Hispanic segment right and I
Can speak to this I’m involved in nrep North North Jersey nre’s north um is a National Association of realtor professionals um you don’t have to be a realtor to be in it in fact you don’t have to be Spanish I’m you know or Hispanic I don’t think you’re Hispanic
I’m not Hispanic I’m Sicilian I’m Sicilian so you know and I’m I’m very uh involved in our board I’m on an advisory committee that helps with like education and whatnot so um so I do a lot of research in this Guaranteed Rate is um a national sponsor of U navre as well so
Um it is projected that um in 10 years and again all these numbers are different and different sources whatever but uh Hispanic Community will be um probably close to 35 to 40% of home buyers and the next 10 years that’s amazing that’s a big segment that’s huge
Now the 35 to 40% is huge huge and you know and it’s funny because like the presentation that I attended last night was more from a financial planning standpoint but it spoke about like you know every you know every culture is different right especially how they approach money and and whatnot but um
You know where like the Hispanic Community the most important thing from a survey that Franklin Templeton did was um you know was um education was top paying for education but also um home ownership right the kind went like um like hand in hand right like home ownership and education
Um equated to Financial Freedom right so it’s important like really think about that right so education and Home Ownership right as as an immigrant right a son of an immigrant um and you know and and my family you know when I remember stories growing up you know and
I’m sure you’ve probably heard us a million times right what Italian doesn’t tell you buy real estate buy real estate right that’s it remember Nick last episode so bought real estate bought real estate so it was actually very interesting right so like but the the seminar was like you know kind of
Talking about um you know when when you’re going to represent the Hispanic Community or or um help the Hispanic Community you kind of have to look at things through their lens right like um you know and this is this is getting deep but go ahead yeah yeah absolutely
Like you know what’s important to certain you know it’s like generational things too what’s important to one generation is not important maybe to another so um you know I think like when you’re for real estate professionals out there it’s important to remember that in the Hispanic Community um just like the
Italians you could have multi-generational living in one house right oh absolutely we did it when we came from Italy right so you know so when you’re out there as a realtor um you know and um you know like approaching uh you know like a Hispanic buyer or even a seller right just
Understand that it’s not just the one person you’re talking to it’s a family decision right it’s it’s a communal decision right so I thought that was really interesting so if there’s one bit of advice that you can get out of this is is that so it’s not just the one person
Talking you got to really go with basically the whole family correct and you know they have to make that decision you know together right to to move forward right so it’s not like me going there and saying hey Dave you know we’re gonna do this yes yes yes but wait I got
To talk to five six seven eight other people you know before we we can make that decision or present it as like a group right like and and remember this was a financial planner presentation so you know which is a little bit different right like you know we’re we’re lending
Money you’re selling a house right you know financial planners are actually taking uh Investments every month you know what I mean so I know the sales approach is different but the concept’s the same right so you know if you’re going to sell somebody a house you may
Look at it and say why would you want to have that house or like as a lender right like we may say like why are you you know more inclined to keep cash in a safe at home or whatever cases right so you know there’s cultural reasons for it
Like the Italians you the big saying is under the mattress under the mattress exactly so you know and by wait wait by the way I do not keep any money under the mattress just want everybody to know you keep it in the tile no it’s in the
Back but so I think I mean listen it’s you know lending uh diversity and lending and and whatnot is you know it’s a um and I don’t think you have to be Hispanic you don’t have to be Asian right like um or any um you know like like I
Guess for me personally and I know for you I can speak for you on this you know the upbringing we had and you know like like seeing our like family come to another country we understand that you know the challenges right but you also understand the opportunities so that’s
What I get I’m really passionate about with housing is is that is that like you know we touch their life like you know when you sell a home or when we give an affordable mortgage right we’re changing people’s lives oh absolutely because you know people look at you know you as a
Mortgage broker or you know mortgage rep me as a realtor you know hey you just sold another house it’s not I just sold another house I help somebody yes get homeownership and I know it sounds corny or whatever it sounds like a script it sounds like a script but it’s not you
Don’t do this as long as you have if that’s a script right I enjoy enjy showing people houses I enjoy getting to the closing table I enjoy negotiating you know I enjoy helping everybody out to get that homeownership again remember I came here to America I was four years
Old yep with a little calini Robert Graham onesie but Robert Graham Onie I don’t know if Robert Graham was around in 6 but um again I came with the calini I came with my family my dad you know sold as you would say the donkey but it
Was actually a mle or whatever I like the donkey better you like the donkey better but we came here with really nothing and you know what we live the American dream yeah and that’s where I try to help everybody and and again it’s not corny I’m helping you go into home ownership
You know if it’s a multif family if it’s a single family whatever it is I mean it gives me so much joy yeah watching or giving somebody the keys to a house yeah and saying here welcome to your new home and then especially like in my town you
Know in Fairfield I see a lot of people in town I more Italians in Naples but I see a lot in Fairfield in Fairfield but I see a lot of people you know I live on the park whatever ever walking in the park walking wait you live in a park on
The park my backyard is actually the park but uh now that everybody knows where I live but um you see people around town where you know hey veto how are you hey I love the house or you see the little kids and and the little kids go Mommy Daddy look that’s veto that
Gave us our house I didn’t give you your house but not you know you got the house and you know I sold you the house and and again it brings me so much Joy you know and and it’s funny because like you know I um you know like I think about
When I grew up right like my um my parent my grandparents um so my par my mom was born and my father was born in Italy they came here about the same age as you right and my grandparents um you know moved to to Loi and then they
Bought a place in Clifton right but I lived in a two family that my grandfather owned right two-bedroom house three brothers you know and my mom right so like um you know and we had tenants upstairs and you know so like that was was generational living my grandparents lived around the block and
I would walk there and you know so like you know it was um you know when I look at like my own situation even like my my mother like she didn’t really own her own home until about like 20 years ago like you know what I mean and there was
Not um you know like there was not education there was not awareness for um you know for immigrants to you know to to realize the dream of home ownership thankfully things are different now right like you know much more awareness much more education um you know and there’s you know there’s bigger emphasis
On home ownership right now for for not just Hispanic Community for you know Asian Community whatever so um so thank God right so um and then the second thing which was in my L still go on oh absolutely keep going I saw you I saw you give him the wrap-up finger I’m
Kidding I’m kidding but the second thing was interesting right now remember I didn’t finish my wine we don’t so we’re good until you finish the wine okay so the second make sure I go slow in it go ahead perfect the second thing that I found was um was really interesting was
Um now remember this was a financial planning first right it’s not it’s not you saying hey right right and this was studies again cited by um by Franklin Templeton and the host was was was amazing by the way the the guy who gave the presentation and if we get comments
And if you want to find out who he was in in the uh chat I’ll I’ll send you his info I don’t know if he would like me to put it like right now the show know if somebody wants to know they can I mean
The guy was spot on um you know and he was it was actually his story was interesting because he was African-American and his wife was Korean so he was and he’s a financial planner so he was like literally like you know he had broad spectrum of like different
Um you know groups and like you know financial planning whatever but something that struck me that was really amazing and this applies to Realtors and mortgage people listening as well but the segment of the population that has right now the most buying power now I’m not talking about
Appeal right like everyone wants a market to you know like Madison Avenue wants a market to people in their 20s right like everyone knows that but should should we tell everybody then everybody’s going to Market to these people but you know what we should I think we should we’re givers we I that
That’s what this podcast is about to give information to everybody not just homeowners not just renters give it to Realtors to mortgage people to everybody this is about wealth and preservation and all that so now remember this is Franklin Templeton a reputable company’s research okay they um they said that
Women between the age of 50 to 65 so again women between the age of 50 to 65 right now are the strongest segment of the population when it comes to finance wealth and um wealth distribution so the whole point of it was that because you think about it right a woman a woman
Between 50 and 65 um you know they have parents that are probably in her 80s right I’m going to hold you I I got to go I know quite a few of those wom you’re married to one so so um you know they they um they’re going to be the
Biggest um recipiant of wealth transfer right now right so 50 to5 their parents are probably in their 80s but they also have either um you know adult children or you know kids in their 20s like that are just getting into adulthood right so this segment of the population has um a
Lot of responsibility right so they’re they’re taking care of their elderly elderly parents right they’re also trying to get their adult children on on you know like on their feet and and going they’re probably still paying for college right MH I’m relating to you here a little bit
Except not a female male I’m not a feemale everybody I’m a male so so you think about it right like this is It’s a sandwich generation right he didn’t use that term but that’s but that’s what I call it like the sandwich generation right so you’re so you know they’re
Getting wealth transferred they have their own wealth but they’re also getting wealth transferred right now I don’t know why specifically it was women um I’m assuming that maybe women are usually the decision makers in in this survey I don’t know but and again you’re married I’m married who’s the decision
Maker uh so the mic mic’s not working so so um so you know so like that’s the segment of the population now now let’s let’s tie it down to real estate Okay so multigenerational right we have programs specific programs that are for multigenerational living okay different mortgages like where you could you know
Not to get into the specifics we’d be here all day but you know if it’s multigenerational you’re buying a home for maybe your parents that are living with you or your kids that are living with you or whatever col even College housing whatever we have those specific
Programs but for realtors you need to look at it differently too right like you know there’s more of the mother daughters right and you know and you know maybe father son father son whatever like you know there’s so you have to take a Fresh Approach to your
Business as a real estate agent and say okay I’m showing this person a house right and they telling me well maybe in a couple years my mother’s going to live with me right it goes quick like so these are the decisions you have to make
Today as a home buyer and as a real estate professional you need to show them the best options right so it was awesome like and I think but it really just it just kind of blew my mind like the different you know different segments of population and how it tied
Right to home buying and like you said us as Realtors and you know real estate professionals you got to you know try to help everybody out multigenerational homes mother daughters father Sons whatever you know I look back 10 years ago 11 years ago when I decided to move from a colonial into a
Ranch right I was 50 years old at the time yeah you know 49 50 years old almost my age almost I remember but everybody was looking at me and saying what are you out of your mind why are you going to a ranch from a colonal everybody wants a colog I said yeah
Everybody wants a colonial but you know what I’d rather have a ranch one day I’m going to get older and you know what I like one floor living right so I buy a ranch today everybody ask me wow you want to sell your ranch right I’m like
Why would I want to sell my Ranch yeah I’m 60 years old this is the best thing best decision I ever made and you know what one floor living and that’s it but you see you take it from like looking at that group’s lens right right so I know
You know your your story too you had relatives live you in the ranch and the whole thing so you know but if like you had a real EST I know your Situation’s different but let’s just say you had a real estate agent who was just like pushing their own agenda like get this
House this is the best house yeah pushing their own listing like everybody does you have to and and you know and sometimes you may look at something and say I would never buy the house but it may not be for you like you may have elderly parents and a kid who needs to
Live like you know downstairs and upstairs and whatever the case is so you have to kind of look at it from their lens so if there’s anything you take away from this episode as a real estate professional and even as a mortgage professional right like even on our end
We have to ask the right questions and figure that out and say okay wait a minute so if this is your plan okay Mr customer Mrs customer I’ve got this program right and now for the mortgage people people out there listening say okay I have this special multigenerational family program now I
Need to take it to the realtor okay and say hey this is a program we have seems like this is what your customer wanted that you sent me now let’s work together and find them that home right and and I like the way you’re saying it look at it
Through their lens because now you know you’re showing them houses and you’re scratching your head and you know we always joke around oh sh you know this is the fifth house I shown you seventh house I shown you whatever but now we got to look at it and say here okay now
I know what you’re looking for right now this is what I’m going to try to show you right now we get into the house hey it might not be something that you know I would like or whatever but like you said it’s perfect for them yeah and I
Think like you know like on future it’s right and I think on future episodes like I I I mean this this seminar it was only like 25 minutes but it really like opened my eyes to some stuff I knew but other stuff but I think that I didn’t
Know and I think we could maybe have future episodes cuz he covered um the two I just described mhm and then uh African-Americans uh Asian Americans um lgbq uh community and also Millennials those are like the segments that are the large so like you know you could spend
Hours doing this so maybe we could do a different show another show on a on a different you know we’ll talk about different people but like you said before you know you’re showing these people houses and you know you’re thinking it’s not for them I remember showing your brother-in-law
Houses okay and it was back when the gas prices were shot up yeah and I must have showed them 30 40 50 houses it almost got to the point where I said hey you’re going to start paying for the gas here you got to find a house that you like he
Was also family you can get away with that but it was a big joke like we were saying but you know what he found the right house again you know the market was different or whatever but this was this episode was pretty deep Dave listen I’m not just
Pretty face veto I have I have substance to me I I got to admit one thing though okay I have a makeup artist okay that wants to come on the show and she keeps telling me that your head is so shiny that she’s got to come and do the makeup
So it doesn’t you know are you serious yes I do because I’m going to tell you as a for everyone that’s bald out there m and I don’t know if we could get this on camera but bald people pay for this shine this is a natural shine it’s true
Well listen and I also want you to do your closing now in in in Spanish oh I would what Italian speaking about Spanish when I uh growing up I worked in a pizzeria that’s where I learned Spanish in Pizzeria and Patterson you’re going to do your uh your uh I’m do I can
Only do it in uh in English can we get it in Italian nah you know what my Italian I got the dialect everybody’s gonna mes mes dialect everybody’s gonna be like what the heck is going on well V thanks for honestly thanks for letting me talk about this it’s something I’m
Really like you know really passionate about and you know and I think uh you know home owners ship responsible home ownership should be available to everyone who can who can grasp it you know there’s something to be said about you know putting your your you know digging in and and planting your garden
Having your own home and there’s something to you know to say to that so thank you Dave I I agree with you 100% home ownership is unbelievable you know and you know you start home ownership when you’re young and you know you’re raising a family you have that Garden
You have the swing set I mean it’s amazing and you’re there to help I’m there to help and everybody looks at me sometimes and you know when we talk hey you know you’re corny or whatever I’m not corny I’m here to help right get into that home ownership and I hope
Everybody’s listening you know what it’s not just me as a realtor it’s not just you yep as a as a mortgage guy you know what everybody has might have their own mortgage guy everybody might have their own realtor but you know we’re here to try to help everybody can I just can I
Like I’m sorry I didn’t mean to cut you up but like so one of the things I love about n and you know I want to shout out to Eric Estes who’s the um who who’s the president and maybe we can get you know somebody from absolutely again more than
Happy to have them here grp in the group there are a bunch of mortgage reps and there’s a bunch of uh Realtors right and it’s not about like you said like everyone has their own mortgage person or their own you know whatever like it’s not even about that like it’s such a
Mission driven group like you know and it and and it’s awesome like you could get you could get five or six you know Realtors or mortgage reps in the room and they’re all on Queue like for the mission right like even next month March uh 11th I think it is um there’s a
National Convention in Washington DC and I’m lucky enough to go down with um with Dean Moran who’s a friend of the show you never told me can I come too you could come too you could drive I’ll drive but we’re going down there and it’s a um you know it’s about um a
Homeown it’s like a you know home ownership and wealth I’m going to hold you to that now oh you can come with me absolutely yes do you want to go absolutely and guarantee R’s throwing a nice party on uh the Tuesday of that week too so major sponsor but um but my
Point is is that like you get and hopefully guaranteed Ray can sponsor this show one one day too well you know one thing at a time Dean Dean I hope you Dean I hope you’re listening we have to see we have to see how the viewership is
Here there’s going to be more eyeballs in Washington but just kidding but yeah but you know what like the point is is that like you know this isn’t something that’s like oh I’m trying to get business or whatever this is a mission to improve people’s lives right and not
Just Hispanic it could be anybody right like and I really believe that home ownership does I know you do too so that’s kind of a hope if there’s nothing else that we got out of this it’s that and you always laugh and you know you
Always look at me and say yes I got the scar I had the open heart surgery you know what I try to help everybody try to you know and again whoever I can and whatever I can do to help everybody out there yeah it sounds deep this episode I
Think was a little bit deep but you know what we’re it’s real that that’s what we do we’re here to help you right we’re not here to just you know sell you something sell you a mortgage sell you a house oh yeah anything like you hey here’s the keys good luck you know
Meanwhile you go in the house the roof is leing this is done and you you don’t know what the hell’s going on where I going to turn I have people calling me today Dave okay I sold them their house probably 15 years ago okay still talks to me today if there’s something
That happens it was brand new construction y remember with all the rain and we had you know and everything had a leak in his house you know through the roof or through a vent or whatever what should I do and I guided him you know call your insurance company right
Once your insurance company calls call this guy here he’ll come and give you an estimate he’ll do but that’s the friendships we’ve made through years right because you know what if I didn’t do right by him he’d never call me back that’s right and I’ve done other deals
With him on on a retail level but that’s what it’s all about right it’s you know helping everybody building the friendships and you know going through life thinking hey I I did something different where I helped these people made a difference I made that difference and that’s why our job is awesome that’s
It that’s it that’s why nutshell that’s it and that’s why every every morning when I wake up and I go to work I’m you know what who am I here to help today exactly I love it I love it well my Wine’s finished Dave on that note I’m
Not going to say it in Italian I’m not going to say it in Spanish I’m going to say it in German just kid nice one day and that day will come when you need to buy or sell a house and when that day does come you will call the Godfather of
Northern New Jersey real estate veto kuszi