Geoff Black @SactoGeoff Twitter profile

Last Seen Profiles

@Clover_Aqui

@TMcthu

@alambrtorh38

@stw_pdg

@Biciowski

@Myakomyakonee

@sdploev

@natsu_nanjo

@Angy_Afj

@BinorRaja

@FekaduFaris

@jowlshy

@stw_pdg

@IliasHaddad3

@pepin58379010

@Bokepindoo2023

@viktorskai

@stwmaniax

@ChicheArnaud

@vvenich

@AndoverNSfc

@BlackimusSFM

@HuskyGirlsHoops

@SvetlanaWit

@onismpulp

@detrickv_

@oryzae_official

@catdogwut

@djoats02

@JAL_MAGIC

@hellasspecial

@agutu_bernard

@stw_pdg

@apicarmen

@jhhines2

@AytacErsoy

Geoff Black

@SactoGeoff

3 months

Some say the best things in life are free. I say the best things in life are things you're invited to. (4/4)

8

106

3K

Geoff Black

@SactoGeoff

3 months

2 kids left the house for school. He mentioned last year his big beautiful home was feeling empty. And that's why he threw that party. Simply to connect and make more friends. And it was pretty great. Some of the best conversations I've had all year. (3/4)

3

24

3K

Geoff Black

@SactoGeoff

3 months

But he has always had a huge network and understands relationships very well. So why would he throw this party? Well, until this past couple years, his home was always a beehive of family and friends coming and going. Most of the family moved away, (2/4)

2

22

3K

Geoff Black

@SactoGeoff

12 days

-50 And now we get to explain to everyone why mortgage rates didn't go down by .5%

69

40

1K

Geoff Black

@SactoGeoff

3 months

Similar approach to what @SacAppraiser has been doing with his occasional open invite to come play pool in his man-cave. To simply connect with people.

10

1K

Geoff Black

@SactoGeoff

3 months

@ContrarianSaver He’s an expert entertainer. He had help. And everyone there was grateful.

2

578

Geoff Black

@SactoGeoff

3 months

If your Freshman daughter was publicly roasted, bullied with the intention of shame. Then later pushed down a hill. By a boy her age all in the same night. What would you do? Someday I may share what I did.

198

9

429

Geoff Black

@SactoGeoff

2 months

I'm calling it. Today is the official start of the refinance wave. And if the Jobs Report disappoints tomorrow. Oh boy. We'll all be working this weekend.

34

9

407

Geoff Black

@SactoGeoff

7 months

@melissasavenko We had a system that worked. It just needed refinement and oversight. Instead, tossing it all out. The future lawsuits from the unintended consequences of these decisions are going to feed the legal community for years.

46

11

394

Geoff Black

@SactoGeoff

21 days

Last week's mortgage payment shock for a past client. Current house = $750k with a $2800 pmt New house= $1.2m with a $7500 pmt Friendly reminder we still have a huge delta for move-up buyers.

35

13

394

Geoff Black

@SactoGeoff

10 months

How much has the shift in volume impacted Mortgage Loan Officers? I have a colleague with 30+yrs, 100% purchase focus. Who did over $150M in both 20/21. Closing zero loans in November.

50

35

353

Geoff Black

@SactoGeoff

26 days

@shawngorham Good for him! I think these investors are wildly misjudging the labor pool for these businesses. And just how flexible they will need to be. In order to retain and attract good labor. Never mind the mishaps.

6

1

335

Geoff Black

@SactoGeoff

4 months

First convo with a 1st time buyer about paying the Realtor commission yesterday. They were going to do 10% down. Now they’re doing 5% down because they can’t comfortably do 10. Just doesn’t feel right.

89

6

257

Geoff Black

@SactoGeoff

3 months

@CarolWalshReal1 Do it. We used to host Sunday BBQ's at our place and tried to invite a new family every week. Kids, life, obligations and other things caused us to roll it back. But we should start doing it again.

1

3

156

Geoff Black

@SactoGeoff

1 month

@MaxFisherCRE Kids were 9yrs old I wrote a check for a travel trailer to get them into the outdoors more often. We went 6x per year. During the 24mo pandemic we went 18x. Worth every penny.

5

0

155

Geoff Black

@SactoGeoff

4 months

@skylarromines Friend's birthday, nice restaurant, 14 people. 4 people just paid their % share + tip. 10 audited the check, paid just their amount. Bill was short. I wound up throwing another $100 in the pile and vowing to never dine with them again.

14

0

151

Geoff Black

@SactoGeoff

2 months

We got the missing signature and closed the next morning. That was a close call! And it took at least 3years off my life (3/3)

7

0

127

Geoff Black

@SactoGeoff

2 months

One time I had a client signing loan documents in a time crunch just before leaving on a flight from Sacramento. We discovered the notary missed a signature. The client was in the air. There was no possibility of an escrow extension. (1/3)

16

1

122

Geoff Black

@SactoGeoff

3 months

According to my sister in Telluride, vacation home bookings are way down this year. Biggest festival of the year is coming up and they have several vacancies. Local wedding venue bookings are way below last year. Is STR bulge behind us?

12

14

120

Geoff Black

@SactoGeoff

3 months

@TweetMyDaughter The reason this post resonates with people is because it’s not as common as it once was. And post pandemic. It’s less common. Add middle age to it. Even less common.

3

2

119

Geoff Black

@SactoGeoff

10 months

@shawngorham Client bought a place in Tahoe. Just closed. “The neighbor is selling the vacant lot next to us. We don’t really have any money left” Me: BUY IT right now. Go tell him you’ll take it before they sell elsewhere.

1

0

91

Geoff Black

@SactoGeoff

4 months

@SkiTownRE Oof. Hopefully they get it fixed faster than HW1 on the CA coast.

2

89

Geoff Black

@SactoGeoff

7 months

@LeadershipAcad1 I appreciate what you guys are saying, but if I can’t get a basic breakdown to understand what I’m paying for. I’m not hiring. Full stop. I need to know what is and what isn’t included to make sure communication is clear.

7

0

86

Geoff Black

@SactoGeoff

2 months

Transaction was going to be cancelled. Contacted the client's assistant to obtain the flight information. Located a notary in Florida and instructed them where to intercept the buyer at his gate holding a sign. We got the missing signature. (2/3)

2

1

85

Geoff Black

@SactoGeoff

2 months

@seandsweeney What started as an earnest attempt to bring good coffee to the US has regressed to a sugar injecting dessert shop. It’s awful.

7

0

84

Geoff Black

@SactoGeoff

10 months

Anyone else hear about the Fidelity National Title security breach today? Operations halted. Probably too soon to know what happened.

24

10

82

Geoff Black

@SactoGeoff

18 days

@realfrugalmogul The car in question

3

0

81

Geoff Black

@SactoGeoff

3 months

What would you do? This is one of those things that brings out the deepest visceral protective reactions possible. How do you deal with him? How do you move forward participating in any other events where this kid and his family are present?

9

0

70

Geoff Black

@SactoGeoff

7 months

@shawngorham We are looking to replace our 2011 Sequoia. 2024 Sequoia with $50k down and the payment is still near $800mo. When we bought the current one, I did 50% down 36mos at 1.9%

22

2

67

Geoff Black

@SactoGeoff

8 months

@ibie43 We need more truthful stories like this. The RE investment narrative is still living in the 2011-2021 era. Completely ignoring the market dynamics are VASTLY different. The prior ways no longer work. Messaging hasn't updated or changed though.

4

2

66

Geoff Black

@SactoGeoff

2 months

Does anyone think the impending Realtor compensation rules could result in a temporary home sales slowdown?

82

3

63

Geoff Black

@SactoGeoff

1 year

Words from the trenches. My sister (below) who manages short term rentals in Telluride, Colorado. @texasrunnerDFW @NeelyTamminga @m3_melody

15

7

59

Geoff Black

@SactoGeoff

3 months

@heyjustpray @txsalth2o Your husband is my people.

1

0

59

Geoff Black

@SactoGeoff

8 months

Notice how many lenders are getting into the 2nd mortgage game? 400k @ 3.25% current loan and then add 100k at 9.5%. This new blended rate is a runway to adapting to a higher payment and eventually softening the "lock in" effect.

11

9

53

Geoff Black

@SactoGeoff

1 year

@AjOsborne1 I've watched $250k for a down payment on a home get wired into the ether. Never to be seen again. It's a PITA but the risks are real.

6

1

47

Geoff Black

@SactoGeoff

8 months

Many RE experts making videos and posts rejoicing the “Fed decision to lower rates”. Then tying that inaccurate message to mortgage rates falling. The Fed funds rate is not mortgage rates. The smart folks on X already know this right?

17

1

50

Geoff Black

@SactoGeoff

2 years

@mikesimonsen This is a great example of why I distrust all those pretty retirement charts showing a steady 9% compounding.

4

1

49

Geoff Black

@SactoGeoff

5 months

Cautionary tale about Gifting for a home purchase. Unmarried couple buys a home. One has poor credit. Their parents gifted $250k in 2016. The one with the good credit is on the loan/title. They part ways in 2022. Guess what happened next?

29

1

50

Geoff Black

@SactoGeoff

3 months

@thejeffheine Always start here of course. As they get older the scope of what they can handle gets larger. Occasionally something comes up that’s so far out of bounds you have to act. Trust me. Intervening was the very last thing I wanted to do.

2

0

50

Geoff Black

@SactoGeoff

5 months

In the past 3 weeks I've had 2 clients who need over $400k in order to make a home purchase work. They both tapped family for a gift and they both got it. Wild.

21

1

48

Geoff Black

@SactoGeoff

2 months

@JeffWeniger Just gonna say it. Could this be the same cohort who popularized the “day in the life” videos on IG of them fetching coffee and shopping at 2pm?

7

1

49

Geoff Black

@SactoGeoff

3 months

They think they’re mocking the unpopular kid at school. What they don’t know is how priorities rise and friendships shrink as people age. A great gathering with quality connections is valuable and rare at any age.

It secretly eats roast duck

@IdahoBones

3 months

LinkedIn guy finds out about concepts like “friendship” and “hanging out”

232

3K

42K

15

0

46

Geoff Black

@SactoGeoff

11 months

@shawngorham Common inquiry at my desk is they want to put an aging parent into them. Others have considered renting the front house and living in the ADU. Some want to build it and rent it.

3

1

46

Geoff Black

@SactoGeoff

3 months

@SacAppraiser It really was. The demographic mix was vast. But the common thread was our ages. Everyone could relate and the conversations were way outside the typical latest sports talk.

2

0

45

Geoff Black

@SactoGeoff

2 months

I have so many stories like this from the era coming out of the GFC. Unreachable asset managers who DGAF about our petty little issues. This one in particular was memorable.

2

0

41

Geoff Black

@SactoGeoff

1 month

@GayBearRes Listing agent is the owner and it’s been on the market for a year? What could possibly go wrong?

0

2

42

Geoff Black

@SactoGeoff

4 months

@SkiTownRE I heard about this one guy. He likes rockets and low flying satellites. I heard he digs holes in the ground too. He's kind of a weirdo though.

1

0

41

Geoff Black

@SactoGeoff

1 year

@NipseyHoussle Welcome to working with the public. And thanks for the tip! I'm totally trying this.

1

41

Geoff Black

@SactoGeoff

1 month

@antonia_mdprjct My neighbor has 3 different temp lights across their porch and garage. I'm tempted to buy and replace the bulbs myself.

3

0

38

Geoff Black

@SactoGeoff

12 days

@markburns4RE I was expecting -.25 and a finger wagging about caution. But the upshot is, the public will now accept that rates are lower. And that's good for business.

2

0

38

Geoff Black

@SactoGeoff

2 months

This one's for the Realtors. Lender pre-approval accuracy is important here. How will we consider buyer paid commission going forward? Input the Realtor Commission into Fees. That amount will be included in the "Cash to close" for qualifying & disclosure

17

1

35

Geoff Black

@SactoGeoff

2 months

@GrulkeLamonte Went through mine with sealant during siding replacement and the contractor looked at me like I was nuts. Bug intrusion is near zero now.

3

0

34

Geoff Black

@SactoGeoff

11 months

Just paid my NMLS licensing renewal for 2024. I'm very curious to find out how many renew this year vs prior years. What's your guess on what % will not renew?

21

2

31

Geoff Black

@SactoGeoff

11 months

Text from my wife this morning. Should I do a video “try this AirBnB Hack”

Housing Bubble Disrespecter🏡🫧🚫

@NipseyHoussle

1 year

Based

793

2K

53K

2

4

33

Geoff Black

@SactoGeoff

6 months

@dtmorgan18 Absolutely. My CPA of 14yrs decided to chop his book. We spent a couple months trying to find a replacement. “Sorry I’m not taking new clients” over and over.

1

30

Geoff Black

@SactoGeoff

4 months

@iamfike Ever met someone who got their ass handed to them on a large transaction? Minimizing that possibility should be reason #1 . Service, guidance and lower worry should follow closely behind.

9

0

32

Geoff Black

@SactoGeoff

4 months

@bethanyjbabcock Our time honored tradition of throwing them a bag of goldfish for 5+ years and hoping they develop of taste for produce has backfired bigtime.

0

33

Geoff Black

@SactoGeoff

3 months

@AdvisorJohn Raising girls to be kind is hard enough. And suddenly they’re ill equipped to handle something this extreme. Big coming of age moment for her. We’ve all had them. I wanted to reach for a baseball bat and get old school.

2

0

31

Geoff Black

@SactoGeoff

8 months

@ibie43 How did this even close? It typically shows up on the title report. We deal with solar lease transfers all the time.

4

1

31

Geoff Black

@SactoGeoff

2 months

As mortgage professionals, we often talk about Loan Level Price Adjustments and what impacts them. Here's a great chart translating it into dollars for every hundred thousand borrowed.

2

1

29

Geoff Black

@SactoGeoff

3 months

@TheRickCarlson #2 was a popular suggestion at the time. A sister of mine lives in a very small town. And told a similar story of a dad who rightfully did this. All above board. It was impressive.

1

0

27

Geoff Black

@SactoGeoff

2 months

@texasrunnerDFW I advise on this scenario all the time. And I tell them to sell it 100% of the time. They always cling to the rationalization of that low interest rate or "eventually it will make sense".

3

1

26

Geoff Black

@SactoGeoff

4 months

@mortgagetruth Highly doubtful. Considering the amount of Fed bond purchases necessary to make it happen again. Heck they are several years from unwinding what they already hold.

4

0

26

Geoff Black

@SactoGeoff

7 months

Realtor colleagues! Remember lenders and appraisers went through this a long time ago. I can remember being thrown out of a dinner party, by the host. Just because of my profession! Trust me when I say, “we get it.”

7

0

26

Geoff Black

@SactoGeoff

10 months

Took an application with a buyer yesterday. Trigger lead/call center follow up offer: “I can beat that rate by .125 AND write the purchase offer while kicking you back 1.25% of the commission towards closing costs”

13

2

20

Geoff Black

@SactoGeoff

18 days

This is how I head off credit trigger leads.

5

0

24

Geoff Black

@SactoGeoff

19 days

Well well well...if it's not the ol' "I have a credit union that can do it cheaper" Conversation at 7:30 on a Saturday night as they craft an offer that needs short contingencies, a quick close and offers are due tomorrow at 9am.

7

1

24

Geoff Black

@SactoGeoff

2 years

@DiMartinoBooth Just texted my sister who does short term rental management in Telluride. Apparently they are down 20% through January.

6

3

21

Geoff Black

@SactoGeoff

11 months

@rohindhar My kids go to private. And I could care less what the other families are doing or driving. Am I jealous if their Tahoe lakeside cabin their grandpa bought in 1975? Of course I am. But I’m not gonna kid myself into living the same lifestyle.

2

0

22

Geoff Black

@SactoGeoff

10 months

Questions every lender gets asked; “You still doing mortgages at 8%?” - they’re not. Followed by everyone telling you “My FICO is 860” - it’s not. And they have a 2% rate. - they don’t. Just smile back and grab another drink.

The Broke Agent

@TheBrokeAgent

10 months

Questions Agents Get Asked At Thanksgiving: "Tough market out there, isn't it?" "Why would anyone buy right now?" "Are houses still selling?" "Your cousin just sold his house." "Do you watch Selling Sunset?" "Why are you always on the phone?" "Is that your fourth whiskey

8

12

57

2

23

Geoff Black

@SactoGeoff

1 year

@JeremyGlantz And that powder is getting eaten up faster than anticipated. Costs and inflation are eating into it.

1

23

Geoff Black

@SactoGeoff

6 months

2 clients with offers in play today. And I’m shocked the listing agents are playing hardball given the interest rate action and creeping inventory. The down side if they blow it could be significant for their sellers.

9

1

22

Geoff Black

@SactoGeoff

5 months

Mortgage Oroginators going into today with any loans floating, should consider today the luckiest day of the year.

5

0

22

Geoff Black

@SactoGeoff

4 months

@melissasavenko ^ she's not wrong. Some lessons need to be taught twice.

2

0

21

Geoff Black

@SactoGeoff

1 year

@AjOsborne1 It wasn't my money or my client. I'm not sure what the outcome was. We deal with constant wire fraud challenges in mortgage lending.

2

0

20

Geoff Black

@SactoGeoff

3 months

@JungleGoat I posted this with parents of young ones in mind.

0

20

Geoff Black

@SactoGeoff

5 months

Yeah I’m sure your “relationship” with a 1.7 trillion dollar bank because of your $175k in deposits will get you better service and loan terms.

6

2

21

Geoff Black

@SactoGeoff

1 year

State Farm halted new homeowners insurance applications in California. Insurance carriers are raising rates and pulling back in the wake of the pandemic and historic fires.

6

5

19

Geoff Black

@SactoGeoff

1 year

@AdvisorJohn Start selling. That’s what they can do.

1

18

Geoff Black

@SactoGeoff

6 months

@BayAreaREMatt They're not saying the homes themselves will be more affordable. They are saying "Buying a home will become more affordable" and if you reduce the commissions component, they are correct. Until it happens for a while and then it's all baked in and neutral.

5

1

19

Geoff Black

@SactoGeoff

5 months

Interest accrued during forbearance has to be paid back? Who knew? They should be showing that on their monthly balance. The problem here is it only became visible when a payoff was requested. Assuming all the facts are here.

Marcel

@artimidore

5 months

This is crazy. Forbearance programs causing underwater loans Tl;dr: they went into mortgage forbearance and due to how it was structured, they now owe MORE on the house than the original loan So, equity has deteriorated now that they're trying to sell...

22

34

154

6

2

20

Geoff Black

@SactoGeoff

7 months

@bethanyjbabcock A friend met a girl on a forum. Flew from west coast to east coast to intervene a date she had with someone else. They have 3 kids and a helluva life.

1

0

20

Geoff Black

@SactoGeoff

13 days

Biggest Real Estate benefit of the Fed cutting rates is the public will then believe rates are lower.

2

0

19

Geoff Black

@SactoGeoff

8 months

@KenjiCapital It was likely to happen sooner or later. Someone flinched. And the squeeze against being a Buyer's Agent continues. Just stacks the deck against buyers.

2

0

19

Geoff Black

@SactoGeoff

2 months

@LovesDogsandUSA The borrower missed a signature. Not the notary.

1

0

19

Geoff Black

@SactoGeoff

1 year

@RussellLowery10 @JoeCassandra Great kid at a crap school with crap peers can't match a great kid at a great school with great peers.

4

1

18

Geoff Black

@SactoGeoff

3 months

@JohnWake This principle haunted me during the pandemic. Take 30yr mortgage rates over the same period and overlay this chart. It becomes really apparent. Huge potential for stagnant or negative growth over this next decade.

0

3

17

Geoff Black

@SactoGeoff

7 months

Imagine a world where the buyer forgoes representation. To save costs. Now imagine the temptations of a single agent handling the transaction. It currently happens. And can have issues. If it's widespread, LOTS of issues.

Melissa Savenko

@melissasavenko

7 months

The DOJ wanted to prevent steering in real estate. So now buyers will have to negotiate a commission with each potential home they want to see on the front end before viewing. Which will lead to agents not showing homes where the seller isn't offering to pay the buy-side

460

156

1K

8

3

18

Geoff Black

@SactoGeoff

8 months

@AdvisorJohn "I'm looking in the 400k range, I have 100k down payment and want a $1500 payment" - Just this morning.

10

1

18

Geoff Black

@SactoGeoff

8 months

@ibie43 At this point? Sue everyone. But I would probably reach out to the escrow or attorney who handled it and see if there is any remedy there. Then I would sue everyone.

3

0

17

Geoff Black

@SactoGeoff

1 year

@texasrunnerDFW Good intel. This will take a long time to play out. All he’s saying is revenue is going down. Lots of businesses have revenue highs and lows and still continue.

2

1

15

Geoff Black

@SactoGeoff

5 months

They never went back and put him on title.

3

0

17

Geoff Black

@SactoGeoff

2 years

@NipseyHoussle He’s actually allowed to have family borrow the funds and Gift it to him. But having them be a straw borrower for his down payment is all kinds of wrong. And yes. His lender cares very much where the down payment is sourced.

0

1

17

Geoff Black

@SactoGeoff

9 months

It’s out of hand. Charge us for the report. Then resell the credit pull “trigger” to others so they can then solicit the same consumer. Those competitors often pull the same persons report again. And reporting companies get paid again. 3 sales.

Aaron Layman

@dfwaaronlayman

9 months

The U.S. credit-scoring cartel needs to be broken apart and demolished. Higher credit report fees will be quietly passed to consumers this year. Insane abuse of market power. "The National Consumer Reporting Association (NCRA) sent a letter to its member last week stating that

1

10

8

2

16

Geoff Black

@SactoGeoff

4 months

@bethanyjbabcock Do you like your house? If so, get aluminum clad windows. In NorCal the brand to get is Sierra Pacific. We love them.

5

0

16

Geoff Black

@SactoGeoff

1 month

@ThinkAppraiser Lou Pai. Enron. Took the money, grabbed his favorite stripper and took off to Colorado. Legend.

2

0

16

Geoff Black

@SactoGeoff

11 months

@CarolWalshReal1 This discussion is coming at a rough time. Because we are just coming off a cycle where selling the home was easier. Buying was not. Advice was extreme. Because of that, public opinion is skewed. Whereas in say 2009. Realtors were high value.

1

0

16

Geoff Black

@SactoGeoff

3 months

@ShannonJean Funny thing while I was at this party, I remembered when you posted this. And connected the dots.

0

15

Geoff Black

@SactoGeoff

10 days

@RickPalaciosJr Over the years, builders have been hot and cold on Realtor cooperation. They have always turned the dial based upon their needs. I don’t expect that to change.

2

1

16

Geoff Black

@SactoGeoff

6 months

@melissasavenko Don’t let this moment define your outcome. This will pass. The industry will be better for it. Public consensus will evolve too.

1

0

15