AI in the Home Buying Process: What Works, What Doesn't, and When to Call an Expert

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19:07Elizabeth Ayoola:We're back and answering your money questions. Today, we're gonna be talking about the use of AI versus a real person in the home buying process. Now, we wanted today's episode to be a little bit more interactive, so we have our data expert on smart money, Cody Goff, here to talk through his use of AI while buying his home. And we're recording live in our studio in Scottsdale, Arizona with Cody, and we're also joined via the internet on a laptop here by NerdWallet mortgage writer Kate Wood. So you'll see us looking at this laptop if you are viewing us on YouTube. So welcome to Smart Money, Cody.

19:43Elizabeth Ayoola:Thank you, Elizabeth. And welcome, Kate. Thanks for hanging out without me. We'll get you here next time, Kate. Yeah. So, Cody, you use the chat tool, AI chat tool, Claude, in your home buying journey, or you're still using it because you haven't totally sorted everything out yet. And have you used Claude before? What was your relationship to it? I use Claude literally all the time. Yeah. Like literally for work, for personal projects. It's everything. Okay. And what about Claude makes it your go-to AI tool versus ChatGPT or Gemini or any other option that you have? I've used all three. I started on ChatGPT.

20:15I tried Gemini. I'm not going to say it told me exactly what I wanted to hear. As they often do, let's say that. Right. It wasn't because it was sycophantic. It just broke things down in a way that the information was digestible. I feel like sometimes with ChatGPT, it just gives you a laundry list of information. And Claude really would just be like, yeah, here's what's actually happening. Here's what you should pay attention to in its answers. So I just found it. You're a fan of the syntax. A fan of the syntax. And then also you hear a lot about the other capabilities, which we won't get into.

20:43But there's some other cool capabilities. I'll admit I have not used Claude. But I've heard amazing things in that it is easier to have a full conversation with it. Elizabeth, Kate, have either of you used Claude?

20:52Elizabeth Ayoola:I have not used Claude specifically. I have, thanks to a newsletter that I subscribe to. And I find, based on my research, that Claude is a little bit more ethical than ChatGPT. So that is why I switched over to Claude. So I have used it before. So today we're going to go through some of the prompts you, Cody, use during your home buying process and kind of weigh out the pros and cons of using generative AI during the home buying process. I also want to add for context that Cody is doing a unique thing. Well, maybe it's not that unique, but unique to me. He is trying to sell his home and also buy another home.

21:26Elizabeth Ayoola:So he's using generative AI for that entire process. Now, Kate, what are your thoughts on using generative AI for the home buying process, whether you're selling or buying? I'm not a massive fan of AI for anything. Like I'm the opposite of an AI evangelist. I'm wary of it for all of the reasons. And at this point, pretty much accept it as a necessary evil. But I feel like, you know, with the home buying process, as with anything, to what extent AI is helpful is going to depend on, you know, how you use it, right? Are you just, you know, asking questions and accepting what it tells you at face value?

21:58Like, that's a great idea. Probably not great, right? But if you're using it as a resource rather than a source of truth, like, yeah, absolutely. there are parts of the process that it'll smooth out and probably make faster.

22:08Elizabeth Ayoola:Yeah, I'm with you. All right. So let's jump into your prompts, Cody. Can you start by telling us what part of your home buying slash selling process that you did use Claude for? Yeah. So to start, I didn't know where to start. And that was the thing. I bought a home before, but that was pretty clear cut. I had money to make a down payment and then I would buy the house, right? This time it's different because I want to move to the Rockford area in Illinois. It's one of the hottest markets in the country, weirdly, even though it's where I grew up. So that's weird to say. But like there's low inventory and I'm very picky.

22:41So it's going to take me a really long time to find a house I want. But if I put up my house now to sell it and then it sells, then I'm in a lot of trouble because I have two kids and you need somewhere to live. I need somewhere to live. Right. So I just didn't know the order of operations. What are my options? You know, I have a limited amount for a down payment. When do I get a buyer's agent? When do I get a seller's agent? What are my financing options? And so at the beginning, I gave Claude kind of all of my financial information. And it was really helpful in being like, okay, here are your options.

23:11You could make a contingent offer. You could get a bridge loan. You could make the initial down payment and then recast your mortgage, which was something I never even heard of before. So that kind of helped me understand the order of operations for things. Okay. And Kate, how do you think Cody did so far in terms of understanding the beginning steps of selling and buying? And what are your thoughts about him not going to a website called nerdwallet.com for that introduction? Yeah, I mean, so it's fun how you, you know, seem to feel about my literal job. But yeah, like you absolutely could have found all of this information on the website of the company that you work for, just putting it out there.

23:50That said, you know, buying and selling at the same time is a situation that, you know, plenty of people wind up in because unless you're hanging on to that first home, keeping it as an investment property, you're probably going to be in the position of, okay, I need to like sell one home. I need to get another one. And honestly, even in a slow market, that's a lot to deal with. There's a lot of different pieces going on, a lot of moving parts. And so in a hotter market like where Cody is, you know, honestly, the fact that Claude's even like you can make a contingent offer, it's kind of like, could you?

24:21That said, I think it's interesting, you know, I'm sure we'll get into this later that, you know, Claude was coming back with, OK, here are some of the other options you could do just because it is difficult to make that timing work when you do need a place to live. And particularly, you know, you've got kids. It's not easy to just be like, oh, well, you know, we'll stay there somewhere for a couple weeks. Kate, your note about contingent offers is really interesting because it seems like that's maybe a hole in the information that Cody got. You were told that you could have a contingent offer.

24:50But what I'm hearing is that that can be market specific. It's not so much that it's market specific, but that so in, you know, I'm not personally familiar with Rockford. But based on, you know, what I've read in these chats and what Cody is describing, this is a market where buyers don't have a ton of leverage and sellers are, you know, if someone's listing their home, they're here to sell. In general, kind of across the U.S., because we have seen, you know, really since the pandemic, such a trend toward all cash buyers coming into the market, in general, very well-heeled buyers in the market, having a sale contingency is just not what it used to be.

25:26So a sale contingency is basically you've made an offer on the house and one of the conditions, the contingencies of your offer is, OK, I need to sell my current home in order for this offer to go through, generally because you need the money from that home sale to buy this next house that you're moving into. That's like a super normal thing to need. And at most other times in real estate history would be no big deal. These days, having that contingency on there can potentially be something that a seller is just going to be like, yeah, I don't want to deal with that. Particularly, again, in a hot market where sellers have a lot more leverage than buyers do.

26:05So kind of given what Cody was describing about his market, that sale contingency feels like, you know, if there's a way around it, if you have the means to avoid it, you might kind of want to avoid it. I did use NerdVod for a lot of this. But like genuinely, once I understood a couple of the steps in the process, like where am I going to go to compare mortgage lenders that offer the best interest rates? I don't want this to sound like a NerdWallet commercial, but like it was a no brainer. I went to NerdWallet, right? Like I went to the mortgage lenders. I put in, you know, how much I was wanting to borrow, you know, what all the numbers and everything.

26:39And like I trust NerdWallet to give me that. Like I wouldn't have told that to Claude. And then I'm like, which lenders do you think? and then just trusted what it said, because I just don't think AI has that level of trust yet. And that is a difference, right? Comparing buying and selling agents was something that it did a really good job of doing. And that's something that's really individual and specific. So I said, I'm looking for houses in this range. Help me find a buyer's agent in Rockford who has a record of having bought a bunch of homes like this, right? And works in that area. And then it actually gave me, Claude gave me a couple third-party websites.

27:17So I went to that site. I did ask Claude to help me kind of crunch the data a little bit. So there was a step in there. But again, I didn't just say, hey, Claude, who's the best buying agent in Rockford? It didn't have that kind of objective up-to-date data. That was really helpful. Filling out mortgage applications online was really helpful because I got to the point where it's like, list all your assets. And I'm like, great, this is like a 14 hour project, right? So you had Claude fill out applications for you. I did not have it fill it out, but I would screenshot it and I would say, it's asking me this, what do I do?

27:51And it would say, you know, at this early point in the process, you don't need a line item of every single asset you own. It just basically wants, maybe if you get a gift for it, or maybe like the sale of your home, like two or three things, do that. And so it simplified. And it was just like, what do you need to do or not need to do? I will say again, Yeah, not so helpful. As Kate mentioned, it did caveat that the contingent offer was not great, but it didn't weigh it as heavily as like you would or like an expert would. It said, you know, pros of a contingent offer, X, Y, Z, cons of a contingent offer.

28:23Well, maybe not as competitive. And it's like, whoa, whoa, whoa, hold on. It's a big con. Yeah, it's underselling the con like quite a bit. So I will say, and also it really heavily recommended the bridge loan based on what I read on NerdWallet. I contacted the two mortgage lenders and I explained my situation. Both of them immediately were like, yeah, just recast your mortgage. We offer that. It'll cost you a couple hundred bucks, but that's the obvious route here. So I will say it wasn't so helpful in financing. And then the other thing was, when I was asking it at first about buying and selling agents, it really wanted me to get referrals from either the selling agent I choose or the buying agent who helped me find our home in the Chicago suburbs.

29:11And I'm like, no, like, first of all, I'm moving, I'm moving 75 miles west. So this is like an hour drive. The chances that one of those agents is going to know somebody in the Rockford area are slim. I barely know my seller's agent. I don't know if I can trust them to find somebody that is looking for what I want, right? And they get a commission for that is what I was told by Claude. So I'm like, they have all the incentive to give me somebody very subpar. I want to do this research on my own. So that was, I think, some questionable advice. Yeah, to me, that almost seems like Claude was regurgitating information it read in a blog somewhere.

29:48But that said, it seems like you got a lot of value out of having your personal information in Claude and being able to have it analyze that. How helpful was that versus, you know, Obviously, you wouldn't have that accessible in an article that you're reading. And that's why I turned to Claude first with the order of operation thing, because I wouldn't know how to search. Like, you know, I could I could Google, like, what do I do if I'm buying a home, but I need to buy it, kind of find a house before I sell the house? Like, I just don't know what queries I would have put in exactly. And again, I think that all best information you could find is under wallet.

30:22But where is that packaged? And how many articles do I have to go through to kind of find my exact situation? That's where I think it was helpful, where I could really give it my very specific details, have it give me some guidance, and then use my own critical thinking. Don't just do what it does. Like, you don't just do what AI tells you to do. You have to take it with a grain of salt and think critically and ask it to clarify and say, like, are you sure? and then go to actual resources like NerdWallet that are like thoroughly researched so they can, you know, tell you what to actually do. This gets just the messy thought process that we're all kind of going through and making complicated financial decisions and how Claude and other AI tools are good at helping you kind of parse these things out one step at a time where if you're just putting things in Google, it can just get confusing and you have 12 ,000 tabs open and you don't know what to where.

31:10Elizabeth Ayoola:So Kate, Cody has said that Claude was helpful in helping him find a listing agent and also fill out those mortgage applications, which I would think are very time consuming things to do. So what are your thoughts on him using AI in those ways and him finding, I guess, those to be pros? So I thought it was really interesting, like the mortgage applications example, because that's something where I personally would be wary, simply because AI is not often the best when it comes to numbers or take this number from here, move it over here. But when you describe the sort of screenshot process, I thought that was a really interesting use.

31:45Something that I really enjoyed as well and that I thought was a smart use of AI that you described was having it work on your correspondence with agents and kind of things you were telling them, helping you get the tone right. That's definitely something I use AI for. And I thought that that was really smart since, you know, this is a professional relationship. And even if, you know, in the example of like the buyer's agent that you used to buy your current home, like, yeah, you know the person, but like they're not super close to you. And so kind of like helping you navigate that relationship, I did think was really smart.

32:17The referrals thing, again, like a little weird, feels like it was kind of maybe reading blogs by real estate agents or something like that. Because, yeah, like you said, I mean, if you're moving an hour plus away, like, sure, they might know someone who works out there, but it might be one person. The other thing is that, you know, any real estate agent is going to be heavily incentivized to refer you to someone who works for the same brokerage, or at least for the same company as them, right? So whichever company that you're working with, they're probably gonna refer you to someone else who works with the same company.

32:50So like, yeah, that advice was definitely a little like, to me.

32:53Elizabeth Ayoola:Okay, well now we've looked at the things that Claude has been helpful with. And I know Cody, you touched on a little bit where Claude wasn't so helpful in terms of the cons, in terms of it recommending a bridge loan over a mortgage recast. So before we have you talk about that, Kate, as the housing expert, Can you talk briefly about the differences between a mortgage recast and also a bridge loan? So Claude was giving you a couple of options that people use when they are buying a home and selling a home at the same time. And essentially, they need the money from the sale of the first home to buy the second home.

33:28But that home's not sold yet, right? So we need to figure out a way around that. Bridge loan is a short-term second loan that you take out in order to buy a home, too. And then you basically pay off the bridge loan with the proceeds from home number one. That sounds easy and it's relatively easy, except for the whole part where you're taking out a whole additional mortgage level loan, right? That's also a relatively short term loan, paying that, keeping that until you get that other home sold and then you pay off the bridge loan. So there's kind of a lot of logistics to it and you really need to be quite confident about selling that first home.

34:05The idea with a mortgage recast is that, again, so we're buying home two before we sell home number one. And with home number two, we're just going to kind of take what we can get on this mortgage, right? Because we have a significant debt load. We might not have a ton for a down payment. But then once home number one sells, you're taking a chunk of those proceeds and you're using it to recast the mortgage on home number two. So here's what a recast actually means. So it's not a refinance. It is still the same loan. You're not changing the term. You're not changing the mortgage rate. What you're doing is giving the lender a big chunk of money.

34:41And so if you're like, why have I never heard of a recast? It's the part where you need to give the lender a big chunk of money. This is why this is not something people are just doing whenever. Usually the bare minimum for a recast, you need to give them like 10 grand toward your loan's balance. And you're giving them that as a lump sum. So the lender then re-amortizes the loan using that new lower balance. So even though you're not changing the mortgage interest rate, you're not changing the term, you are going to end up paying less because now you've lowered the principal that much. So there's not a separate loan.

35:11And then the other big perk, which I think Cody already mentioned, is that the fee to recast is usually like a couple hundred dollars. So if you work with a lender who's like, yeah, I'll recast the mortgage, this is something that's pretty doable, but again, not something that a lot of people necessarily know about or have heard of. In AI's defense, part of this may have been user error because when I gave it my finances, I don't think I did make it clear that I had the funds for the down payment I would need for the house we're looking for. Some family is able to lend me money for that in the form of a gift that I can then pay back.

35:44AI didn't have that information. So in fairness to AI, I think it's still valid to say like AI isn't perfect. But I think part of why it isn't perfect is because it is hard to use right in certain ways. Like you do, as a user, really need to know all the information that you're going to give it to help it make an informed decision for what to give you. So I will take some of the blame for what maybe could have been a little more clear.

36:09Elizabeth Ayoola:But I think that's such an important point because sometimes people use AI, again, as the end all. But you still need to do your own research so that you have something to feed it so that it can give you correct answers. Right. So I don't think that you should bypass NerdWallet or other resources. I mean, it could only answer the question as well as you ask the question, right? And sometimes, you know, if it's like buying and selling a home, normal people don't do this constantly. So it's not like, oh, shame. Like, you didn't know what a mortgage recast was. I'm like, I'm probably one of the only people I know in my personal life who knows what a mortgage recast is.

36:43It's not a normal thing to know about. And that's totally fine. We've talked about what got you started in this whole buying-selling process. Where are you now? And are you still using AI to help you along? I am still using AI. I've asked it to be a sounding board, I guess, in terms of like, what are my values? How old are my kids? What do I do with my kids? And Claude has kind of helped me think through it. Like, I'll give it a specific house. I'll give it the Google Maps screenshot. I'll tell it what's nearby. And I'll say, you know, what do you think? And it will say something to me like one time it said, are you walking as a functional thing or are you walking as a recreational thing?

37:21You know, you don't need to be able to walk to the grocery store, right? Maybe if you're just surrounded by forests, that's the right call for you. And then also thinking ahead to when my kids get older, which as a dad is not a thing I ever want to think about because I can relate. My daughter's three and I don't ever want her to change that, but she will. Right. So like, where are they going to want to walk or where are they going to want to get to? Are they going to ride bikes and what's going to be bikeable? And then also it gave me some tips for just like, how do you know if there are kids in the neighborhood?

37:49because right now we have a couple families on our street, but like not many. It's a lot of people whose driveways wind behind their house. And I have not seen my neighbor, literally six years I've lived there. I've seen my neighbor across the street one time. I've seen the person that lives next to them zero times. I don't know who they are. And it's like, you know, Claude says things like, look for bikes, like in people's lawns or whatever, like certain toys or playgrounds. And some of it might sound obvious, but there's little things that you can kind of do to assess a neighborhood's kind of feel a little bit.

38:21Also, I get the feeling that you are a heavy-duty planner. You like to really think things through to an extreme degree. And hearing this, I'm like, let's just wing it sometimes. You never know, right, when you move to a new place or city. I can move into a place and three days later, the neighbors come home from vacation and they have 14 dogs barking and they never shut up. There are houses that I've literally eliminated from my search because I'd pull in, we'd walk up, and there's like four pit bulls in the bay window next door barking from the time we pull up to the time we leave.

38:54Elizabeth Ayoola:And I'm like, I'm not spending the next 30 years dealing with that, you know? I know I did not put as much research in when I was looking for a new place to live, but I'm just thinking about how many hours it takes to figure out stuff like that. Looking in Reddit, Quora for those who use Quora, blog posts, TikTok, just to figure out all these things. And it sounds like, again, you've been able to save a lot of time by using Claude for that purpose too. Maybe. And I do not let it look at listings for me. Like, that's just pointless. If I say, here's my criteria, find me some houses. No. Also, that's the most fun part is looking at all the listings.

39:27That is fun.

39:28Elizabeth Ayoola:Kate, can you speak to it not being good at finding listings? I know some people sometimes have issues with broken links, for example. Actually, I was talking to a colleague of mine about this who had that exact experience with Claude where, you know, she was trying to say, OK, I want it to be, you know, I want this many bedrooms about this price, you know, these neighborhoods in L.A. And it was like, oh, here's this like, you know, lengthy, like a search link, a search looking link in Zillow where it's like, oh, like three bedrooms and this zip code and links are all broken. One of the only working links is to a home in Arkansas.

40:02So, you know, yeah, like not the best with this. And like Sean said, just browsing, you know, just browsing listings is kind of recreational.

40:11Elizabeth Ayoola:All right, Kate. So we have highlighted, thanks to Cody, some areas where AI can be helpful and areas where it can be not so helpful. So for all of the listeners out there or anybody who is thinking about using AI for the home buying process, based on the many steps that it takes to buy or sell a house, where would you say it could be most helpful and where should people take more caution? I do think the idea that Cody was using of saying, okay, look at this house and tell me what you think of it in terms of what's important to me is a pretty smart one. Because you can go on a real estate search website and say, okay, I want this many bedrooms and I want built in after this year and whatever.

40:49But if you've got things that are important to you, like you're like, I want a town that has at least one independent bookstore and I want a sushi place that delivers and I want hiking trails that are no more than a 20 minute drive. It's not finding you specific houses, but it's going to tell you like, OK, this town or this neighborhood could work for you based on these things you like. Or, you know, well, it's got two out of three. Can we negotiate here? So I do think that kind of more personalized, like searching on the metrics that you index on is a really interesting use of AI and something where it could be really helpful in your home search.

41:22And so, Kate, what about where you wouldn't use AI in the home buying and selling process? Anything number related, I'd be a little hesitant with. I tried comparing ChatGBT to our home affordability calculator the other week just because I was curious. But in the end, GBT was telling me I could afford like a way more expensive home than the home affordability calculator was and wasn't really explaining how it got to that higher number. So I don't know. Anything with numbers, I'm just not a super fan of using AI. You know, other things I would say just kind of the emotional aspects of it, like, is this something I'm ready for?

42:01Like, is this where I am in my life? You know that to an extent. That's something like maybe talk to human people about because this is really like a capital C commitment, right? It's a lot to deal with. As we're describing here with, you know, selling your home, right, at the same time as that you're buying another one or when you're looking to buy another one, it's not just a lot to get into. It's also a lot to get back out of, right? So if you're at a point in your life where you're like, I'm not really sure what I want to do next, talk to the people around you. Figure out, hey, what do I want to do?

42:30What would make sense for me? And you know GPT is going to think it's a good idea. Right? Yeah. Someone who will give you some pushback.

42:37Elizabeth Ayoola:Right. I did see an Instagram post the other day while aimlessly scrolling. And it caught my eye because it said someone used AI, ChatGPT, for the whole process of selling their home. And they didn't need an agent. So it was framed as a quote unquote game changer. You are in the housing market. You do this every day. You're the expert. Are there any trends that you're seeing in terms of how people are using AI during the home buying process or selling? People are always trying to figure out ways to sell without a real estate agent for sale by owner or FISBO is a whole thing. I have not heard of just using AI instead of it, although I can already imagine ways that people would try to use AI to just like do the FSBO process, but maybe not seem like it's a for sale by owner home.

43:24But in terms of how people are using AI, as a matter of fact, I do have fairly specific numbers on this because it's something that we asked about in NerdWallet's 2026 Home Buyer Report. So the Home Buyer Report is a big annual report that our data nerds put together, kind of taking the pulse of the housing market. We do this every year, but this was the first year that we asked about AI. And we found that of Americans who are planning to buy a home in the next 12 months, 48 % said they either already have or that they plan to use AI as part of the home buying process. Yeah. So how are they using it?

43:56So the most common way that people said they would use AI were estimating housing costs, those 27%, guiding them in the buying process. So essentially what Cody's talking about was 26%. And then to visualize home designs or renovation was 25%. And that one I like a lot. Just use it for the fun stuff, for sure. Visualizing housing costs raises a flag for me because you just said we shouldn't be relying on numbers from these tools. It's a little, yeah, that one definitely raises some flags. Cody, you're part of the 48 % using these tools. How are you feeling? I feel pretty good. But actually, Kate said something else about talking to people.

44:33and I think that is something that I undervalued going into the whole process. I looked at a house and it had, there were a bunch of houses kind of in a circle with a big shared backyard in the middle. My wife wants to get a dog someday. So she's like, well, you know, we need to figure out where to put the fence. And my mom said, you need to make sure that that's basically allowed, not part of an HOA, but she asked me that because my parents had a next door neighbor who built their house next door and they put in the deed to the house you can't put a playground in the backyard which i didn't know was a thing so that neighbor moved up the hill and now that neighbor can see their old house some people came to buy the house next door and they were outside and my mom walked over she's like oh we'll be your new neighbors blah blah blah and they're like yeah we're just looking at the yard we're gonna put a playground here and my mom goes well you know you you can't do that, right?

45:30And they're like, what do you mean? Well, because the deed says you can't do that. And the person that wrote it is like up the hill. It's not an HOA story, but maybe this group of houses with a big shared backyard has a rule that you can't build fences. Now, I wouldn't have known to ask AI that. I wouldn't have known to ask Nerdball at that. How would I have known that? You need people with some war stories who have bought homes that had crazy things like that. Yes, you need war stories. So I think, you know, for me, I love using AI to augment it. I will always honestly go to NerdWallet for like when the rubber hits the road and I need a lender or somebody like, or I need to calculate how much I can afford.

46:07Yeah. But like talk to people because that's going to give you more information than you've ever like had. By the way, my parents, next door neighbor that wanted to put in the playground, they backed out of buying the house and they sued the people that were selling the house because they didn't know about it. My parents thought the buyer's agent should have known. But anyway, they ended up losing in court and they lost$10 ,000 earnest money and backed out of the deal because they couldn't build the playground. Well, thank you for coming on and talking to us. Keep us posted on how this all goes.

46:38It's the power of podcasts, Sean. I'm bullish. I'm bullish on podcasts. You know, me too.

46:44Elizabeth Ayoola:And thank you, Kate Wood. Or is this AI? Are you really Kate? I mean, I'm on a screen. So have you been keeping track of how many fingers I have and how often I blame? We can't see your hands. Okay, there we go. Thank you so much, Kate. Thank you, Kate. And that's all we have for this episode. Remember, listener, to send us your money questions. Don't send them to ChatGPT before you turn to us. You can call us or text us on the Nerd Hotline at 901-730-6373. That's 901-730-NERD. You can also email us your questions at podcast at nerdballet.com or leave us a comment on Spotify or YouTube. Follow us on your favorite podcast app that includes Spotify, Apple Podcasts, and iHeartRadio to automatically download new episodes.

47:26Here's our brief disclaimer. We are not your financial or investment or AI advisors. This nerdy info is provided for general educational and entertainment purposes and may not apply to your specific circumstances.

47:36Elizabeth Ayoola:This episode was produced by Tess Vigeland, Hillary Georgie helped with editing. Eve Krogman is our editor and a big thank you to NerdWallet's editors for all of their help. And with that said, until next time, turn to the nerds.

47:53Hey, Smart Money listeners, we have a brand new email newsletter, and it's completely worth signing up for, especially since it's free.

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48:34So head to nerdwallet.com slash podcast to sign up. Again, it's free.

48:38Elizabeth Ayoola:That's nerdwallet.com slash podcast. We'll see you in your inbox.

49:11Thank you.