Real Estate Trends Part Two

Episode Transcript

Speaker 1 (00:00):
And Welcome to Cindy Stumpo Tepest Nails on WBZ and
I'm here again. Two nights with Jesse Foster, Michael Carucci
and Sammy's Oh Book. Okay, she's been away for two weeks.
She'll be home, I think tomorrow, which will be great.

Speaker 2 (00:14):
I heard she wasn't coming back.

Speaker 3 (00:16):
She better come back taking over, Sammy.

Speaker 1 (00:18):
Jesse's taking your place. So we had a crazy.

Speaker 2 (00:21):
Weekend saying good luck Jesse.

Speaker 3 (00:24):
Yeah, she's probably Thank God.

Speaker 2 (00:26):
There be careful what you wish for exactly, Always be
careful what you wish for.

Speaker 1 (00:32):
So we were we were all over the place last weekend,
which is fine because content is content and it is
what it is. Right. Life's life.

Speaker 2 (00:39):
Focus.

Speaker 1 (00:40):
Focus, stay focused, stay focused on what focus. Okay, good
you show? Okay, Well I think I was going down
a great road. We talked about the skill gap, we
talked about how well. The only thing that we did
not wrap up Jesse, did you have something you wanted
to ask me?

Speaker 3 (00:56):
But I didn't, So I was hoping we could circle
back around to this and figure out the whole Uh,
how you guys ended up back together? Why why let
Dad break up with you?

Speaker 2 (01:06):
And about the good juicy stuff.

Speaker 1 (01:08):
You know what he said to me put him back
in when he broke up with me. He said, you
want to know what.

Speaker 2 (01:12):
I'm sorry that the world is listening to this, right.

Speaker 1 (01:15):
He said, you know what, I'm really going to miss
I go, no, he goes, I'm going to miss your dad.
I go, well, then maybe you should have been dating
my dad. Like that's why I said, no, I'm gonna
really misspop you. And I said, well that's great. And
that was the end and we never ever talked again. No,
he called like to you almost two years later. He said, hey,

(01:35):
I heard you got engaged and I said I did.
He goes, that's you're you're you're getting engaged on the rebound.
I'm like, really, two okays later, mister righteous goodbye, like
year and a half later. No, he wasn't. He was
just your father always had to be put his nose
in where it didn't belong.

Speaker 2 (01:53):
He's like, we had worked, okay.

Speaker 3 (01:55):
Simmer down over the years.

Speaker 1 (01:56):
That's calm down. But he always had a big opinion.
And we when we're kids, we get a big opinion.
I don't want to hear your opinion. And you know,
here's the difference. My opinion is always right, in his
opinion always wrong, because he's the he sees life through
flying pink unicorns and everything's wonderful and great and I'm

(02:17):
just hitting you with right hooks and left hooks in reality,
and you, guys are.

Speaker 3 (02:20):
So it couldn't be more different at times, black and
white versus you, who's all in the gray and here's nothing.
I don't understand.

Speaker 1 (02:26):
Here's nothing, guys. It's Christmas Eve. I'm a senior in
high school. And we leave his house and him and
his father like this, give me a handshake. It Merry
Christmas Son, and that was it for me. Like I
was like, wow, I can't. And we go back to
my house. Right, we're driving in my house and there's
Bobby standing outside with the Louise box that's big, right,

(02:46):
big hugs and kisses and like you know, and we
used to worry about Rachel miss years later it's like,
come at your house, was like, how many guys I
have to kiss before I got to you? Like because
my father, my uncles, Okay, because he's.

Speaker 2 (03:03):
In the room, and tell him what was going to
happen if he messed up.

Speaker 1 (03:06):
I think he saw that with the shooting in the house.
I think he realized that was another one. Right.

Speaker 3 (03:09):
I know that.

Speaker 1 (03:10):
Like you said, listen, I grew up in the project.
My daughter used to come to that hill to watch
your father get shot.

Speaker 3 (03:15):
Right.

Speaker 2 (03:16):
My daughter used to complain that nobody would date her
and scream at me.

Speaker 1 (03:20):
Yeah, because you were paying attention.

Speaker 3 (03:22):
But they were afraid of you a little bit.

Speaker 1 (03:24):
That's a good thing. But so you know your fault.
We don't have Yeah, there you go. Oh, that's good
to have a following that. It's good to have a
follow like that. He's very strangled that one of her boyfriends.
He deserves. We won't talk about it, talk about it,
but yeah he did. Any good father is always going

(03:47):
to protect their daughter.

Speaker 2 (03:47):
He's still around.

Speaker 3 (03:49):
Oh not in my life, but he's still living.

Speaker 1 (03:51):
Yeah.

Speaker 2 (03:51):
I got an.

Speaker 1 (03:53):
I got him. I got him one night on chatter
or club. I was some one of those things I
told you. Yeah, hey said, he remember me. But anyways, yeah,
that wasn't meant to be at the time. But now
it's adults who work, So no, there was no. I
wasn't thinking of him and he wasn't thinking me. I
was happily married. I was I I was with Joe
and you know, had Sammy three years later that I

(04:15):
had Chad seven years later. And she looks just.

Speaker 3 (04:18):
Like her mom.

Speaker 1 (04:19):
Let me see a picture.

Speaker 3 (04:20):
She's stunning. He's showing us a picture of his daughter.

Speaker 1 (04:24):
And his name. But Mike doesn't understand when I'm radio
not TV.

Speaker 3 (04:28):
Oh gosh, I'm trying to give the narrative here. See now,
Cindy's looking.

Speaker 1 (04:31):
At a shot lawn, blondue eyes, tall, she looks tall,
Irish is the days long? She does not look Italian anything.

Speaker 2 (04:37):
The name Carucci.

Speaker 1 (04:38):
Yeah, yeah, she's a blonde, blue eyed Crucci. She's beautiful.

Speaker 2 (04:41):
We should train first baby in August.

Speaker 1 (04:43):
Okay, how old is she?

Speaker 2 (04:44):
Thirty? God, I should know this.

Speaker 3 (04:47):
See why don't dads know their daughters?

Speaker 2 (04:49):
August first?

Speaker 3 (04:51):
Followed my dad does.

Speaker 2 (04:52):
He's August twenty first. I think she's thirty four. Thirty four,
maybe thirty five.

Speaker 1 (04:56):
She's born in the nineties, doesn't matter, thirty four to
thirty five. She's getting Listen, guys, she's getting married. Congratulates
all right, So she's actually doing it the right way.
She's actually getting married for us, got married for us
two years ago, and now she's having a baby.

Speaker 2 (05:10):
And I like the guy and that's a good thing.

Speaker 1 (05:13):
Patrick to Patrick, that's why you get married for us
and have a child.

Speaker 3 (05:16):
So you scared off all the losers. She got the
good one.

Speaker 2 (05:20):
Eventually.

Speaker 1 (05:21):
Okay, so we turned my real estate show tonight into
the dating.

Speaker 2 (05:24):
Game Peyton Place.

Speaker 1 (05:25):
Well, okay, whatever it takes you.

Speaker 2 (05:27):
Readers love it. They want to hear good, juicy stories.

Speaker 1 (05:30):
And now the juicy story.

Speaker 2 (05:32):
Everyone wants to know about Cindy's love life.

Speaker 1 (05:34):
Why I got engaged. It was all over the Herald
of the Globes. It's still like city stuff. They wrote,
cidey stuff. They wrote sidey Stubbs.

Speaker 3 (05:44):
Say you're gonna be with Mike Holmes or something, And
I was.

Speaker 1 (05:47):
Married to Mike Holmes. Oh please make crazy people.

Speaker 3 (05:49):
And just are so bored with their own lives.

Speaker 1 (05:51):
Your father went like this, Oh my god, I made
the newspapers.

Speaker 2 (05:54):
I will say this. It takes a secure guy to
be with you. No offense.

Speaker 1 (05:58):
Why why?

Speaker 3 (06:00):
He says with why? Like why is your stature right now?
She's like, I one dominate a man's industry.

Speaker 1 (06:09):
Yeah, so what to you?

Speaker 2 (06:11):
Not exactly not opinionated, you're not exactly not strong willed.
I know I'm using a lot of double negatives here.

Speaker 1 (06:17):
Yeah, when I get a compliment, that is a problem.
Oh thank you, solid complimented son. Then an eighth of
an eighth of a percentage of men can be with
me less than that. How am I looking to see?

Speaker 3 (06:30):
My dad is the unicorn.

Speaker 1 (06:32):
So then I'm very lucky because I've had really two
great guys that could handle my my business.

Speaker 2 (06:37):
Yes, forget Joe.

Speaker 1 (06:38):
Yeah, I won't forget Joe. He gets he was in
that marriage for twenty three years.

Speaker 2 (06:43):
I was twenty seven.

Speaker 1 (06:44):
And the truth is he was a great cheerleader. Yeah,
never ever, no guilt. Got to put home the kids
to this and that me. Nope, But look at two
people can grow apart, and and still I got to
give him his you know, his flowers where he gets
his flowers, and I gotta give his dead flowers. I'll
give him dead flowers too. Ray Ray is the responsible, reliable,

(07:06):
dependable soup everybody, no matter where they goes, everybody's Ray.

Speaker 2 (07:11):
He's good for you.

Speaker 1 (07:12):
He grounds you, he grounds me, he does told you,
he says, look at you're the character of the group.
This is what Way does when he doesn't want to
deal with something I love. Ray, can you handle that?

Speaker 2 (07:23):
Yeah?

Speaker 1 (07:24):
Can you handle that?

Speaker 2 (07:26):
Classic partnership.

Speaker 1 (07:27):
But it all started the first day, like he came
down and flew down to Florida and I'm at the
front desk of the hotel.

Speaker 2 (07:35):
The relationship.

Speaker 1 (07:36):
No, no, yeah, this is the second time, right too too,
And I looked at him, I go, you might want
to walk away from this front desk right now. He's like,
you're not going to like decide of the city. That's
going to come out right now. So if you want
to stay, you might be a little embarrassed. I don't
want to embarrass you.

Speaker 2 (07:50):
Or you can walk away off on someone.

Speaker 1 (07:52):
Oh yeah, bad, okay, I say so. Jesse would stay
because that's her personality. And Ray's like, I'll have to
go to the coffee shop.

Speaker 2 (08:01):
I go, good, idea, text me when it's safe to
come back.

Speaker 1 (08:06):
And then he came back and we had what was
supposed to be and that was it.

Speaker 2 (08:09):
Right, So what was the issue?

Speaker 1 (08:12):
They had me in the wrong suite, Oh God, in
a double bed overlooking the ocean, and my sweet I've
been staying for thirty something years up absolutely fix it
right away, but I do. I'm not gonna listen, you
give me an attitude, Go get your My manager's busy.
I'm I'm busy your manager right now because when she
comes with Conor and finds out that you're giving me

(08:34):
a hard time, we're gonna have You're going to have
a hard time. Right And the and the fine thing
about Jesse is, you know we would say when I
first and that actually Jesse really kind of put meray
I together because Jesse was started to stay with me. Yes,
we gotta go to break. I'm Sydney Stumple and you're
listening to top His Nails on WBZ and welcome to

(08:56):
Cidney Stumble Topes Nails on WBZ and I'm here.

Speaker 2 (08:59):
With Jesse Foster Michael Carucci.

Speaker 1 (09:02):
Okay, well and the whole way Foster thing right now,
right here is Jesse start to stay with me, and
I'm like, Ray, can't you I have your daughter at
my house, can you like stay right? So now we're
all in three different bedrooms sleeping, right.

Speaker 3 (09:15):
I was going through some Cindy really lifted me up
when I was in a really bad situation.

Speaker 2 (09:21):
That's what Cindy does.

Speaker 3 (09:22):
He does. It's it's like it you know as much so.

Speaker 2 (09:24):
When did Ray creep in your bedroom?

Speaker 1 (09:27):
Took a while?

Speaker 3 (09:28):
I don't want to know. I was always wondering that question.

Speaker 1 (09:30):
Not for a while, no, no, no, not for a
real long while. But the point is that I wasn't
like that number one right. And for me, those two
things have to go. Sex and love have to go
hand in glove, and if they don't, I'm not doing
it right. That's just how it is with me. So
that's just.

Speaker 2 (09:46):
You never heard of the three date rule?

Speaker 1 (09:48):
No, I don't know. I was.

Speaker 3 (09:52):
I just I never That's not I thought it was seven.

Speaker 1 (09:54):
I looked like the girl seven. I don't know.

Speaker 2 (09:56):
Maybe I'm just a long.

Speaker 1 (09:57):
Time basically, that's how the story goes Jesse. But my
point was I said to Ray, don't ever push her
personality down. She's got a strong personality. Let it be.
That personality is going to get her to it's going
to get to her in life, get her to life right,
and it has. She's got a strong personality. Don't push
the strong personality kid down, Just guide that personality. There's

(10:20):
a big difference. She's going to debate you, let it
debate you. But teacher, as she's debating you, don't don't
get agitated from the tree, truthfully, but she should have
been my kid, truthfully, do you have a lot in common?
So with that being said, that's how that'll end up. Now,
can we go back to real estate? WHOA Okay, Mike

(10:45):
good Jesse, you asked like a question, let's go co
host that baby co host?

Speaker 3 (10:49):
So I guess I don't know too much about your
hosting a show. I am co hosting the show, but
I just okay, So we were talking about Boston. We've
talked about, you know, the high end. You guys say
that you can predict things in cycles of seven.

Speaker 2 (11:06):
What historically?

Speaker 3 (11:07):
Historically? How is it that for me? I hear you
guys saying that, But when we're we're in the middle
of it all, it seems like there's no prediction. There's
you have no idea. Is is it going to be
seven years a cycle? Is it going to be crazy? Like?
Why does it always seem like once we're at like
the end of something bad, we all should now know
how to predict things.

Speaker 1 (11:26):
Well, here's a generation that knows nothing. That's why they
use the word manifest and mindset all the time. Right.
If I hear those words, I say that. No, No,
but this is this is a generation. Do you understand, Like,
if I hear the word manifest and mindset again, I'm
going to scream, I'm going against all the other influences
and tell every stop using the word mindset. We don't know, honey,
the truth is a constant. Don't know.

Speaker 2 (11:48):
We don't know the constance of supply and demand. That's
always going.

Speaker 1 (11:51):
To be No, Michael, let's really call how it is.
There is a loudspeaker. I've always said this listened to
me since twenty three. There's a loud speaker. This says,
everybody buy houses, right, and everybody goes up by houses.
Then there's some type of loudspeak out there goes stop
buying houses, and everybody stops buying houses. That's the best rialogy.

Speaker 2 (12:12):
I buy the room to sell the news.

Speaker 1 (12:14):
I don't know.

Speaker 2 (12:14):
Well, did we really think that we would continue to
do six million units a year? No? Never, okay, And
anyone that thought that that type of velocity and volume
would continue were delusional.

Speaker 1 (12:28):
Correct, Okay, So here's what's going to happen.

Speaker 2 (12:32):
Now We're at what four million, and people are weeping
till four million units a year?

Speaker 1 (12:36):
Correct? But again you used the word last week in uncertainty. Right, Yeah,
I love these markets. I would love no markets. But
what I really love is a normal market. And what
a normal house.

Speaker 2 (12:50):
I'll tell you what it was.

Speaker 1 (12:51):
I'll give it you two thousand and thirteen fourteen one
normal markets before we heat up to getting crazy. Get right,
A new market that's going up little by little.

Speaker 3 (13:04):
You know.

Speaker 1 (13:04):
Look, when I first started building, the rule of thumb
was to make sure I had enough interest to carry
it for a year after it was built.

Speaker 2 (13:11):
Now you're pre selling everything.

Speaker 1 (13:12):
Okay, but seven years of reputation too, buddy, don't take
that away from me.

Speaker 2 (13:16):
Well, another thing you've done well.

Speaker 1 (13:18):
Thirty seven years. You never be ensued by anybody.

Speaker 2 (13:22):
But I think what you don't get enough credit for
is is not enough credit is forecasting what the consumer wants.
You sort of stay ahead of the curve there and
you build with what you think somebody wants. And that's
not that's easier said than done. Like right now, I

(13:46):
don't know if you've announced it, but your new Newton project, right,
that's probably two years out right, okay, I mean really old?
That was Well, answer is no, you won't.

Speaker 1 (13:58):
Be running around the joge site.

Speaker 2 (13:59):
But you know the decisions. But the decision that has
to be made is you know, what's the bedroom mix,
what's what's it going to look like? Who my buy
is going to be here?

Speaker 3 (14:10):
Right?

Speaker 2 (14:11):
You know it because you've been doing it so long.
But I can't tell you how many people have missed
that mock and as a as a broker, and and
we consider ourselves better than average and what we do
so many times lodge developers call us in too late,
and I won't. There's a project in the seaport we
got called in too late. Nobody talked to us about finishes,

(14:34):
Nobody talked to us about bedroom mix. And that's why.

Speaker 1 (14:40):
You think I need to talk to brokers about that stuff.

Speaker 2 (14:42):
You don't because you've been doing it for almost forty years.

Speaker 1 (14:45):
Let's not push it. It's thirty. Well, right then, you
just put three more years on my age already burning, Okay.

Speaker 2 (14:52):
I'st nine and I started.

Speaker 1 (14:56):
My feet of burning right then. I'm burning, Like, what
the heck's going.

Speaker 2 (15:00):
On in the same street since nineteen eighty three, the
same street?

Speaker 1 (15:05):
Yes you have?

Speaker 2 (15:07):
Do you think I was the first one to get
two hundred dollars a square foot in Boston and people said,
I was I set that all night and people said
all that crazy.

Speaker 3 (15:14):
Okay, you can't even get that anywhere, even a new
hand build.

Speaker 1 (15:17):
All right, he wants to take the credit for that.
This could be This could be who's got the biggest
on this contest? Who sets the new high numbers in
Newton Brookline all the time?

Speaker 2 (15:25):
You do?

Speaker 1 (15:26):
Oh is that amazing?

Speaker 2 (15:27):
Rice? First square foot, the first one that top two thousand,
didn't you in Brookline?

Speaker 3 (15:32):
Yes, like a monster law because of you?

Speaker 2 (15:35):
Oh?

Speaker 1 (15:36):
Yes, Oh, the papers have given me everything. Yes, okay.
So in nineteen ninety I was called the knockdown Queen.
Then in twenty nineteen, let's keep going.

Speaker 2 (15:45):
Two thousand and four, knocked Up Queen, the.

Speaker 1 (15:47):
Knocked up Queen. I was called the knockdown Queen. I
took down the house down on Dudley Road. A brick,
crappy wasn't full brick, just a front brick, you know,
just a crappy.

Speaker 3 (15:56):
House like part doesn't matter.

Speaker 1 (15:59):
In ninetyeteen ninety nobody was knocking down houses just to
knock them down. They were putting a new family room,
an a kitchen to a renovated They were maybe one
build you knew those was knocking down houses cru nineteen
ninety you were not happioneer and you did razy.

Speaker 2 (16:14):
Yeah. But you see, you changed the way developers looked
at property because before then they didn't see the land
value you, oh exactly. You looked at it and like
what it could be versus what it was.

Speaker 1 (16:28):
So what I did was very simple. Right, if you
think about this, I'm twenty I'm twenty four to twenty five.
At that point, I said the lands worth six hundred thousand,
the bayer wants six fifty, right, so the house for
fifty grand knock it down?

Speaker 2 (16:42):
Well, well I can make.

Speaker 1 (16:43):
Up the fifty thousand. I can bury that fifty thousand.
Is how I would say to myself in my book.

Speaker 2 (16:49):
Well, what's changed because of looking at assets with that
type of assessment is bookline book grind you a four
to six million in acre? Would you agree with that
in the right location?

Speaker 1 (17:00):
Right?

Speaker 2 (17:00):
So anything you look at that's a house that's four
and a half million dollars.

Speaker 1 (17:05):
And you're not even getting an acre. Right, Okay, you know, right, right,
I just paid eight one seventy five for less than
two acres.

Speaker 2 (17:12):
Yep.

Speaker 1 (17:13):
But I mean the way the street falls twenty five right,
So it's not acre zoning you though, it's right there,
it's just falling.

Speaker 2 (17:21):
Its just so you know, there are talking points, accurate
ones where you can say to a potential client, the
land is worth this much, especially if you have a
decent home. Correct, Okay, the land is worth this much.

Speaker 1 (17:36):
So what you have to do sometimes.

Speaker 2 (17:38):
And then okay, you want to knock it down and
you're gonna spend eleven hundred and twelve hundred foot the build.

Speaker 1 (17:42):
Now, this is why I tell people, if you can't
move the house, it's really a piece of crap. Knock
the house down. You'll pull the money for the land
because you're gonna have an empty lot. And the guy goes, oh,
it's an empty lot.

Speaker 2 (17:55):
I'm going but do you lose grandfather clause when you do?

Speaker 1 (17:58):
Absolutely not.

Speaker 2 (17:59):
You don't know.

Speaker 1 (18:00):
Okay, no, once you if you got historical delay, once it's.

Speaker 2 (18:03):
Done, take it down two years now one?

Speaker 1 (18:05):
Oh yeah, they really stepped on theirs on that one.

Speaker 2 (18:07):
It was one and they moved it to two.

Speaker 1 (18:09):
He took that back, right, because go look at how
many go look at how many building proms are being pulled.
Oh wait a minute, only city.

Speaker 2 (18:15):
Stumbo, Oh, because nobody can afford to wait two.

Speaker 1 (18:18):
Years exactly the cost of money.

Speaker 2 (18:20):
They can't afford to wait two years that long? Did
that extra year stay?

Speaker 1 (18:25):
In a fact, here's my question, how do you keep
the building department going?

Speaker 2 (18:28):
You don't? Oh, I'm going to pay their salaries?

Speaker 1 (18:31):
And how long you want to keep torch me when
I'm producing eighty thousand dollars a year plus in taxes
on homes. And that exactly thought stumble and you listen
to tough on WBC, and still talking, I said, hold
that thought, seven dred, hold that thought. You don't hear me,
Hold that thought, Hold that thought, and welcome back to
Toughest Nails on WBC. And I'm here with Jesse Foster

(18:53):
and Michael Carucci.

Speaker 2 (18:54):
What we just talking about illostge cycles?

Speaker 1 (18:56):
Okay, but w did we just sleap off that you.

Speaker 3 (18:59):
Had a wait more than we have to wait? No? No, no,
the two years.

Speaker 1 (19:04):
So basically, yes, if you can't sell a crappy house,
knock it down some you'll come by the land. It's
the house that's boiling people. Your land is worth more
than the house. Certain certain zip codes, certain areas, not
all areas. So let me say that, but the areas
that I like to develop in, right.

Speaker 2 (19:24):
The better areas land oft in l A.

Speaker 3 (19:27):
Like, where else in the country would you see these
type of Miami, Miami.

Speaker 2 (19:31):
San Francisco, any any high net worth area you'll see.

Speaker 1 (19:35):
That, Chicago, Philly. I mean it's still.

Speaker 2 (19:41):
In perception from the peace, from the consumers standpoint, From
a consumer standpoint, as a broker, it's easier for us
to show a beautiful piece of land with some nice
architectural renderings versus a dilapidated sixty year old home and
trying to I have the consumer seats with that. They

(20:02):
have a hard time doing it. So it's actually easier
for us the way that you recommending sending.

Speaker 1 (20:09):
Let me match your question.

Speaker 2 (20:12):
Just one.

Speaker 1 (20:13):
Yeah, let's put a put away because everybody is a
master and a maven of reading markets, right, But the
truth is they're not. You have to be in this
business long enough to feel the ear you know what,
you can taste it, you can feel it, Michael, right,
absolutely all right. You know the developers and builds again

(20:36):
into trouble, the ones that have got defunded and over leveraged.

Speaker 2 (20:39):
Buckle up.

Speaker 1 (20:40):
If you're not undefunded and over leveraged, you'll slide right
through every bad economy, which I have, and I'm the
proof that you can.

Speaker 2 (20:47):
Since nineteen eighty four, the only one I've ever seen
get in trouble almost in every instance was overly leveraged.

Speaker 1 (20:58):
People, which was ninety percent of developers and builders. Why
is that? And I will tell you why.

Speaker 2 (21:06):
Why? Because banks were giving money out much too easy.

Speaker 1 (21:10):
First of all, you always look at the surface side.
I go deep, I d deep. That's because I'm a
cancer right, I got that cancer astrology.

Speaker 2 (21:18):
Kraunglodite. You know what a kraldite is?

Speaker 1 (21:20):
What's that?

Speaker 2 (21:21):
Look it up?

Speaker 1 (21:22):
I'm an EmPATH. But anyways, I'm going to google that word.
Google that word from me. Can you tell what the
hell's a krunglighte? Of course he knows. Your father knows
a river in East Boodles somewhere and it's about a
mile long. Okay, wait a minute. The reason why that happens, Mike,
while you're looking up that word, you two, it's nothing

(21:43):
to do with anything has to do with ego. The
man's ego is so big. Every man wants to outdo
the next man.

Speaker 2 (21:50):
In real estate, you're missing like you also not, so
let me tell you what you miss. Developers. Doctor's dentist decided,
Oh I can.

Speaker 1 (22:01):
Okay, that's a different story. Let's talk about real there's
a big difference. No, no, no.

Speaker 2 (22:07):
Putting too much leverage on something.

Speaker 1 (22:09):
Okay, bingo. But let's talk about real developers. Back in
our day, real builders.

Speaker 2 (22:13):
Define that many of there were.

Speaker 1 (22:17):
Guys that came into the market. They weren't doctors, they
weren't lawyers, they weren't accountants. They were your builders, your builders,
man guys that knew how to build. The money guys.
Oh my god, go look at my Instagram. Three point
seven million views on that video and the comments are
crazy when totally, totally it's money man, money guys against

(22:40):
real builders.

Speaker 2 (22:42):
Oh it's a distinct difference.

Speaker 1 (22:43):
But it has so much controversial on there. It's crazy. Right,
it's so true because I'm calling the truth out. Just
because you're a money guy does not make you a builder.
Just because you can invest your doctor and you get
some money to investor the building, you're not the builder.
You're the money guy. Builder knows how to build. A
developer knows how to go out and underwrite deals. Knows

(23:05):
how to do the math equation, do both, and then
there's me and a lot of people. When I first started,
I had okay, I didn't have any choice. I had
to learn how to develop and build, because who's going
to hire a twenty three ye old girl to build
Let's call it what it is, right, no one would
have hide me. You're not going to hire some twenty three,
twenty four, twenty.

Speaker 2 (23:22):
Five year old girl coffee for the labor exactly.

Speaker 1 (23:25):
Yeah, So I quince sed out off that way doing that. Yeah,
I do it all time. I am the coffee woman,
on the pizza woman, the coffee woman. What are you
guys talking about? Being choice and the laborer and a laborer?

Speaker 3 (23:37):
That's because you're a good person. You know about your
guys on the job site. You bring that stuff to them.

Speaker 2 (23:41):
Because streets are doing all right.

Speaker 1 (23:46):
So I'm making you look at eleven dupery streets. See
And why is that? Because I'm going by there at
eleven o'clock at night, right, Mike Bond, Yeah, going to
check his work, Bond man, Who do you think stays
on top of Bond?

Speaker 2 (23:57):
So, Mike, last week, I'm like, how do you how
do you look like that.

Speaker 1 (24:01):
Yeah, when you eat, let me ask a question. Did
you go by your your carriage house and go by
and see all the stuff that I found that bond missed,
cleaned up that site got with the stage and gart
where do your dumpster? Did you notice that?

Speaker 3 (24:13):
Good?

Speaker 1 (24:13):
No, made sure the stops guys came out, We finished
the stock go on the overhang that they didn't do.

Speaker 2 (24:19):
Oh oh yeah, I.

Speaker 1 (24:20):
Had like ten things from my landscape that that's been
done too. Awesome, okay, because that's because the stumple was
going to go out there. You So I can have
the best project managers and they're still never going to
be me.

Speaker 2 (24:30):
Do you like that house?

Speaker 1 (24:31):
Yeah? I do?

Speaker 2 (24:32):
Awesome. Isn't it very awesome? So we spent the night.

Speaker 1 (24:35):
Off for me. I'm redoing from like eleven Newbury Street
and yes, it's coming up beautiful. Anyways, what else were
we talking about? Probably that, Oh the ego of the man.
So the real developers, right, take all the real big
guys back in the nineties, the late eighties, nineties, going
into the two thousands, all ego MANIAX.

Speaker 2 (24:54):
And how many are still in the trade.

Speaker 1 (24:56):
A lot of them have got pushed out, A lot
of them get pushed out and come back in and
then a lot of them step out.

Speaker 2 (25:01):
But do you know less Marino? Of course was he
a good builder?

Speaker 1 (25:04):
H less wash was he good building?

Speaker 2 (25:08):
I was young?

Speaker 1 (25:09):
But yeah they were? They were good company continental? Yeah,
I don't but what the kids had.

Speaker 2 (25:15):
Like what happened? The second generation didn't want it. Didn't
stump get to the next generation. It's right.

Speaker 1 (25:24):
If she takes it, she takes it, she doesn't, she doesn't.
Sea Stumple will never be for sale. It'll die with me, right,
I don't care.

Speaker 2 (25:32):
Well, it's hard to sell something that it's you.

Speaker 1 (25:34):
It's not. It's not the reputations there. We've been offered,
min as cell, we've been offered.

Speaker 2 (25:39):
But nobody can do what you do.

Speaker 1 (25:40):
They can. They'd have to have it. I'd have to
stay on and train and teach and teach, right, and
then you could keep that brain going.

Speaker 2 (25:47):
And if you're going to stay on, why do it
for somebody else?

Speaker 1 (25:49):
But think about this, how could a company, a builder
or a developer to cross developer builder stay in business
for thirty seven years and never been sued by an
end user vendor or a subcontractor because you.

Speaker 2 (26:02):
First of all, it's customer focused centrics.

Speaker 1 (26:05):
Standing behind your product, no tail I wanting. It's not
rocket scientists, it's not complicated. It's common sense.

Speaker 2 (26:11):
It's relationship based and not transaction based. You're not killeding,
You're developing a relationship, and that relationship happens to live
in one of your homes. Correct, it's a byproduct.

Speaker 1 (26:23):
Which they all. I just gotta text the other day
from your look with the dog under my sign. It's
ound of my science. I saved it, right, he just
sent me out of nowhere, right, you must you know.

Speaker 2 (26:34):
I stopped in with a big client from London last
week to see him, and it was the best thing
I did because the client get you're all about relationships everything.

Speaker 1 (26:42):
You're still go to everything. I tell my clients if
you don't invite me, I'll give your daughter a better
gift or your son a better gift. I just could have.
I don't want to do anything anymore. I really don't.
I'm so tired. Don't make me go, Oh my god,
your found and I had to go to an event
two weeks ago. You guys are always no. No. He's like,
please please, I'll go open the pool, I'll clean the toilets.

(27:04):
I'll clean the rooms, I'll do the windows. The guy
that hates to do anything, just get us, get us
at this event. I'm like, dude, we got to go,
got to go to this event. I gotta. I promised
my client was showing up. Once we got there, we
have fun. It's just a whole wepton get ready and
going out. Stay stay focused here, I'm losing your buddy.

Speaker 2 (27:26):
I'm here.

Speaker 3 (27:27):
We got more questions.

Speaker 1 (27:28):
So again, when they do come back, Mike, they make
the same mistake again. I want to be the biggest,
I want to be the beast. So you know the
definition in Sandy.

Speaker 2 (27:36):
Right, doing the same things over and over again, expecting
different results.

Speaker 1 (27:41):
Okay, there's a there's the developer builder reputation that's there.
That's their brain. How they think. I want to be
bigger than this person. I want to be bigger than
that person. You ever, No, I don't use the word mindset,
their mindset or manifest. The reason why I don't use
the word mindset because it's not their mind. It's their brain.
That's why they brain things. Okay, the big muscle in

(28:02):
their head doesn't think clearly. But yeah, we can talk
about that too. What hurts the market is when every
schmiggy thinks they can become a builder. They're over paying
for product, and then we're stuck out there having to
pick up the pieces because these schmigagis did it all wrong.

Speaker 2 (28:16):
It's no difference in these.

Speaker 1 (28:17):
They got lucky lucky than skillful.

Speaker 2 (28:20):
I three million of them did less than four days less.

Speaker 1 (28:24):
But the truth is, you want to be lucky, Coulchi,
you want to be lucky, you want to be skilled.
I hold that thought. This is Cindey Stumble and you
listen to the Toughest Nails. Will be right back and
welcome back to the Toughest Nails on w b Z.
And I'm here with Jess Foster, Michael Carucci and I'm
Sidney Stump. Okay, pick it up what we just talked about.

(28:46):
Get the phones down, people.

Speaker 3 (28:49):
I was trying to google.

Speaker 2 (28:50):
The word, well, what is the word mean to sell
a dweller?

Speaker 3 (28:54):
This is what I kept Does that mean you were
talking about you dig into the dirt?

Speaker 1 (28:59):
Yeah?

Speaker 2 (28:59):
I said you were kraunglidite.

Speaker 3 (29:02):
Yeah, this is what I kept getting on my ee.

Speaker 1 (29:04):
Yeah right right, I'm gonna do a scar burning thing, right,
all right, alright, alright, alright, alright, alright, okay, whatever that meant. Okay, Carucci,
can you admit, after all these decades in the business,
there is a way to feel the ear and knowing
the market is softening before it starts to soften?

Speaker 2 (29:26):
Absolutely?

Speaker 1 (29:27):
Okay. Do you think the market would have softened if
we didn't have redistrates that went flying from threes and
three and a half to four to five to six?
Like did you?

Speaker 2 (29:39):
Well? You know, there's two answers that I questions in
the short order. Of course, it softened the market because
the cost of money is to double.

Speaker 1 (29:46):
I screwed up because I forgot we were I asked
you a question. Then you can go back that one.

Speaker 2 (29:49):
Okay.

Speaker 1 (29:50):
I'm all over the place called Metapausrea. I asked you
prior would you rather be skillful or lucky?

Speaker 2 (29:57):
I work on it being lucky.

Speaker 1 (29:59):
Okay, like that answer. I'd rather be skilled and have
some luck. Okay, what's the sense of grabbing all the knowledge?
Here's somebody asked me this question. Think about this for
a minute. Would you rather be take the action or
be knowledgeable? We had to speak debate about it on
X and people are going I rather have knowledge, action,

(30:20):
and you say action. I say, okay, so I come
flying in of course.

Speaker 2 (30:23):
Because you're can have know What's what good is knowledge
without action?

Speaker 1 (30:27):
Thing?

Speaker 3 (30:27):
Go?

Speaker 1 (30:28):
So here's what I said.

Speaker 2 (30:29):
Got to be in the game. Okay, you need to
be in the room. Here, see it at the table.

Speaker 1 (30:34):
Okay, So I said, you guys really debating action versus knowledge.
It's hand and glove.

Speaker 2 (30:39):
You'll develop knowledge from action.

Speaker 1 (30:42):
Exactly, and you'll take more action when you have more knowledge,
and more knowledge gives you more action. So what are
we debating here? So that was the right answer. Very good.
Give me a fist pump.

Speaker 3 (30:51):
It's like the chicken or the egg.

Speaker 1 (30:53):
You need both.

Speaker 3 (30:53):
You need both.

Speaker 1 (30:54):
Okay, you can read one hundred books on how to
be successful, but if you don't take the action, why
did you read the hundred books for Okay? By the way,
I've never read one book. I don't even like to
read books.

Speaker 2 (31:03):
Audio books.

Speaker 3 (31:04):
There's one book I think you should do.

Speaker 2 (31:05):
Audiobooks.

Speaker 1 (31:06):
I never read a book on audiobooks are the best.
I don't want to read a book on how to
be successful.

Speaker 2 (31:10):
Audiobooks, I think that's the word audio. You listen to them.

Speaker 1 (31:13):
Now, I want to listen to a book on how
to be successful, then I'm going to write the book.

Speaker 2 (31:16):
No, you should, you should do that.

Speaker 3 (31:19):
Victor Brown's wife.

Speaker 1 (31:20):
Oh that's a different bo that's the book about a life.

Speaker 3 (31:23):
He's sending me one.

Speaker 1 (31:24):
Oh that's right. Okay, we're still on kronglogite. Okay, now
we'll go back to the other question. Where were we
before you reuly interrupted and sent me a sign that says.

Speaker 2 (31:36):
If the interest rates caused the softness of.

Speaker 1 (31:38):
The money, people go like this where they all buy
pole tonight. Were they drinking? Yes, they're drinking, and here
I'm telling you that they have teenage.

Speaker 2 (31:47):
Well to your question, the the the increase in the
cost of money has certainly not helped the market. But
for those of us that have been in it, as
long as we say that, listen, when I first started,
when you first studied.

Speaker 1 (32:09):
Money, right now said come on, I know if you.

Speaker 2 (32:13):
Look at it, the world historically, six and a half
percent is low. It's still it is still low.

Speaker 3 (32:21):
But they don't like me.

Speaker 1 (32:23):
You guys can't understand because your generation just lived.

Speaker 3 (32:27):
You know, you can leave Jesse in the generation alone
with okay, but time out with low interest rates were
way lower than what they are right now.

Speaker 1 (32:36):
Moneyway, but hold on, we also made a lot less money.

Speaker 2 (32:39):
Too, right, But people, people don't want to talk.

Speaker 1 (32:42):
Every generation always says the generation got so crazy. We
didn't know.

Speaker 2 (32:47):
They didn't The reason prices have got so crazy is
the cost of money. Okay, but Mike, you're correlated.

Speaker 1 (32:53):
Mike, Mike. If you ask my parents, they would tell
you when they bought their home and Peoby had it
built in eighteen thousand, was a lot of money.

Speaker 2 (33:00):
I'm gonna do. I'm gonna do. And you can borrow, no, guys,
when you can borrow them round numbers, when you can
borrow a million dollars and only pay thirty thousand dollars
a year for it, okay, you can buy borrow a
million dollars and pay sixty five thousand dollars a year
for it. Then and now, okay, what do you think

(33:23):
is going to happen to the values of these homes.
They're going out proportionate to the cost of money. Okay,
so there the more affordable rates.

Speaker 1 (33:34):
What's the the problem?

Speaker 2 (33:36):
Now the values of the houses are not dropping, but
the cost of money has doubled, So your buyer pool
is dramatically lower. Now, what's saved the market, in my opinion,
is there's so much equity out there. There's so much
money out there, and that's why you're seeing a lot
of cash purchases. Multi generation. There's a lot of reasons.

Speaker 1 (33:58):
I'm the last year of the Baby boomer six, right,
So the Baby Boomer generation, all that money is turning
over to the next generation. And there's a lot of
money coming. Even the mom and dad that bought a
three family in Revere, Massachusetts, right, they're turning that over
their kids. There's money. There's a lot of money. There's
a lot of money out there. So even if you

(34:20):
your mom and dad owned a house in Sealthia, three family,
it's a million dollars of floor. Your mom and dad
just left your three million dollars. Okay. So there is
a lot of wealth out that that's being passed down
from the Baby Boom generation to now the next generation.
And what's that generation? What's the next generation after me?
What are you consider?

Speaker 3 (34:39):
So I'm a millennial, there's one.

Speaker 1 (34:42):
For the millenniums, right and Gen X both me actually,
because I'm the last so my money would go to
what you people call which I think you're a bunch
of aliens. Personally, they just call them all aliens after
the Baby Boomers.

Speaker 3 (34:53):
Yeah, I'm in the wrong generation. I don't. I feel
like I fit into my generation.

Speaker 2 (34:59):
I should have been the cave man.

Speaker 3 (35:00):
I can ask you.

Speaker 1 (35:01):
One question, what you would have dragged me by to here?

Speaker 2 (35:05):
What is my idol? Was Fred Flintstone? Average had this
crush on Betty?

Speaker 1 (35:09):
Oh? You did you like Fred?

Speaker 2 (35:10):
Woman was the first innirexic? I think no, who's the
inner exic? Who on the Flintstones was it?

Speaker 1 (35:16):
I don't know.

Speaker 2 (35:17):
Eddie will if you know all of Oil was the
first in Popeye's Wife.

Speaker 1 (35:22):
Think about this from it.

Speaker 2 (35:25):
Even know any of these people.

Speaker 1 (35:26):
In badamn Okay, listen, the Flintstones had it going on.
Hear me out.

Speaker 2 (35:31):
The Jetson's had to go forget them from it.

Speaker 1 (35:33):
Let's stay at the Flintstones. Say about this. The horn
Blue Knowes were the union workers. They went down the dinosaur.
Here's the then hold on then Fred or Barney w
prolem for him? Hold on, No, No, they got badag
the sneak.

Speaker 2 (35:50):
The snake skin dress on. Okay, and it was on
the table.

Speaker 1 (35:53):
But you're forgetting the real things. About that show. We're
going to kill the will No, listen, you forget it.
I'm talking to myself here. You forget the real things
that went on the flint Stones. Really, the wives were
shopping too much, spaying too much money. The housbans were gambling.
Bet bet bet bet bet bet bet bet bet Right.
The dinosaur and the the the and the guys coming

(36:13):
to work with the lunch box and the horn blowing
was definitely union workers. Then back to work right coming
home after hot day of work and wanted to jump
in the swimming pool, but there was no water and
it so he lands on.

Speaker 2 (36:23):
His head right, but cooking, but.

Speaker 1 (36:25):
Wilma was cooking. And then they had the poopa whatever
that was. The men. We go off to the men's
club and then they had the typical little girl with
the little blonde point tail on her head and then
bam bam, that's Samantha. Chad couldn't face the any better.
Bam bam bam. Chad just let's hit everything that walks
by us. And Samantha was pebbles with the blonde on
top of her head. I asked for pebbles and bam

(36:47):
bim right, So it's all relatable. The Jetsons was definitely
not relatable, like we would dream of that.

Speaker 2 (36:54):
That's that was futuristic and that's like outdated stuff.

Speaker 1 (36:57):
Now, well that's our FaceTime was still not going. We're
still not there. We're still not there.

Speaker 2 (37:02):
No, everything that you saw on the jets passed.

Speaker 1 (37:05):
Oh really really? Were's the pretty face that comes on?
I want to get in front of my thing and
my film makeup and here is done FaceTime?

Speaker 3 (37:14):
But no, it's called a photo app filter.

Speaker 1 (37:19):
But she had like so much that you she had
the screen come on and her face was all made
up in here, and.

Speaker 2 (37:25):
I guarantee you there's a filter for that on.

Speaker 1 (37:28):
This is There are no when I'm on Instagram live,
it's you get my face and that's the Instagram.

Speaker 3 (37:33):
They got all those filters, but.

Speaker 1 (37:34):
She had a mask that Lily went over a face
like this. Okay, fine, we are we running outside our
dog in the ear and where's the flying spaceships?

Speaker 2 (37:42):
Who was the dog?

Speaker 1 (37:44):
Yeah, he was out of the treadmill running with his
dog in ear in the space. We're not there yet,
So there's a lot of things we're not we haven't
touched upon. Where's the robot cleaning my house.

Speaker 3 (37:53):
Where's Elon Musk? We got to call him.

Speaker 2 (37:55):
I was in Scottsdale last week get a conference. I
saw this car and it's a Jaguar, okay, and I'm like,
I've never seen a car like this in my wife
had all this stuff on it, and I looked inside.
There wasn't anybody driving.

Speaker 1 (38:06):
It driving cars.

Speaker 3 (38:09):
But.

Speaker 2 (38:10):
It's a Jaguar. It's a Jaguar in a joint venture
would Google. And I had never seen it, and I
wanted to go over and knock in the window, like
this is cool. And I looked at the cod. There
was nobody there.

Speaker 1 (38:20):
So Chat Mike, it's a red light.

Speaker 3 (38:23):
What is the Stephen's.

Speaker 1 (38:25):
Friend my I mean Chat's friend Steven had his cop
pool out of the parking space is Tesla and picked
him right up in front of legals. I'm like, why
is that cod driving? Okay, We're gonna go to break.
I'm sidy Stumpy listening tough his zails in WZ would
be right back and welcome back to toughest nails on WBZ.
All right, Mike, Seriously, we we didn't really get talked
about a lot about real estate. We just kind of
went on our own little trio here, right, trio whatever

(38:48):
you want to call us, a d D. Yeah, we're
all over the place, but you are the best broken
in Boston. So how do people reach you? And then
we'll come on. We'll have a real real estate show again,
I promise.

Speaker 2 (38:59):
Michael Rouchie dot com, Michael Cruchi Instagram sixty one seven
nine zero one seven six hundred.

Speaker 1 (39:05):
Where do you work?

Speaker 2 (39:06):
I work in Boston, Massachusetts, Great Boston. But we we
trade all over the world.

Speaker 1 (39:11):
So anybody can call you, that's correct. If you do
business in Florida, you do business in California, you do
business all of the country, all over the world, all
over the world. Okay, Mike, I love you for being on.
Thank you back to back weekends. Jesse, I love you
for being here. Everybody, have a great, safe weekend. I'm
Sydney Stumble and you listen to Top his Nails on
WBZ News Radio ten thirty