Hidden costs. Shout outs. Insurance rates. Mortgage rates. FHA for condos. 3D printed homes. Forebearance

Episode Transcript

Speaker 1 (00:15):
Navigating today's real estate market can be tricky. Want to
buy or sell a house, finance or insure a house,
or stuck with a house and don't know what to do.
Florida Talk real Estate has been your local one stop
real estate shop since twenty twelve. Get the advice you
need from your local real estate pros. Here are your hosts,
Jim Depola and Johnny c Live on Real Radio.

Speaker 2 (00:37):
Good morning, South Florida, and welcome to another edition Florida
Talk real Estate. We got you for count them up.
Two hours of info team and it's great to have
you out there nine to two one one o one
seven the old terrestrial radio. Thanks for tuning in. Maybe
you're on your free download. That's a free download of
your iHeartRadio app. We're worldwide, by the way, if you're

(00:58):
on the app there, and yeah, we are just that
big worldwide on a Saturday, and of course live streaming
as well. If you like to tune on in via
the live stream, you can do that on Facebook Florida
Talk real Estate on Facebook on YouTube as well. Florida
Talk real Estate, LLC. Home of a ton of informational
chunk videos plus a live stream on a Saturday. If

(01:18):
you're there out the gates, thanks for being there, and
of course you can always join into that stream or
check it out after the fact. That kind of stuff
stays up there forever. By the way, thanks for being there.
Eight seven seven nine two seven six nine six nine.
That's toll free number if you'd like to be a
part of the fest. David Ease Today, questions, comments, concerns
in the world of real estate. Want to take part
in the conversation and dial in first voice you hear,

(01:41):
that's the melodious tones of our producer exhortinam my brother
from another mother.

Speaker 3 (01:45):
What's up, Jim th Hello, Hello, and good morning gentlemen.
Happy to be here on a Saturday with you.

Speaker 2 (01:50):
It's always good to see you on a Saturday, my brother,
and great to be heard. I'm Johnny C. You're old buddy,
your opal. Let's get to the important people like Mike Row.
He's the mortgage guy from the mortgage firm. Good to
see you, Mike, dude.

Speaker 4 (02:03):
Feel like I've been out forever.

Speaker 2 (02:05):
Isn't it weird when you have a routine of seeing
somebody on the regular and ye.

Speaker 4 (02:08):
Don't see him for a couple of weeks. Yeah, just
like months. I've missed you. I've missed you too, and
the audience.

Speaker 2 (02:15):
Yeah, good they missed they missed you as well.

Speaker 4 (02:17):
Good to be back.

Speaker 2 (02:17):
Welcome back to the fold.

Speaker 4 (02:19):
Yes a lot.

Speaker 2 (02:19):
Rosskameron Nets is always here. Well I can't say always,
because we had a span too where I was like, man,
has it been like three months since I've seen you? Ross?
He's a with Bret Wayne Shar's Juno Beach. How are
you my friend? I do well, it was about three weeks,
so yeah, three weeks, three months, same thing. So they
say time is relative, right, so the older you get,
the faster it goes something like that.

Speaker 4 (02:40):
I don't know I've heard that exactly right. I beg
I'm experiencing that.

Speaker 2 (02:43):
It's it's real. It has fully set into my life
in the last handful of years. There's so many times
where I'm like, oh, that was like two years ago.
My wife's like that was eight years ago. Oh okay,
that was that was eight years ago, that was that
was last month, dude.

Speaker 4 (02:58):
It could be that your brain's getting full, so you're
like not able to store these you know, local memories,
so you know, time dilates on.

Speaker 2 (03:07):
Can I have it my way, I feel better about
it my way.

Speaker 4 (03:09):
Oh what's your way?

Speaker 2 (03:10):
Yeah? Your way by the time, it's actually slowing down. Yeah,
like I'm depreciating in some way.

Speaker 4 (03:15):
Yeah, I mean what's the difference. So honestly, you either
have the memory or you don't.

Speaker 2 (03:20):
True, Well, I have the memory. I just can't date
stamp the memory. I can't like associate to how long
ago it was.

Speaker 4 (03:25):
Yeah, you know, it could be that you're becoming specialized
as well, like do you remember that concert at one time?

Speaker 2 (03:31):
At one time, like where he's going that one time.

Speaker 4 (03:34):
You saw that one band? You remember what year that
was and that. Yeah, that's the thing.

Speaker 2 (03:37):
I'm like, oh, yeah, we just saw them like two
years ago. Yeah it was five five years ago? I can,
I can.

Speaker 4 (03:43):
I can get the year like of a memory, but
then it feels like five years ago, but really it
was two thousand and two. Yeah. You know, I do
this all the time when I'm doing like a pre
approval interview. I have to get dates like when you
live somewhere, and then you're kind of your work history,
and a lot of people have to have that memory
like jarred for them, Like, so when how long you've

(04:05):
been at your current place. Oh, you know a few
years do you remember, like what year you moved in?

Speaker 2 (04:10):
Right?

Speaker 4 (04:11):
And then I'll get to it. I basically have to
have a month in a year at least, yeah, because
I gotta put the information in right, So was it
around your birthday you moved in? You remember? Was the summertime?

Speaker 2 (04:20):
And we've had those conversations like, let me see it was. Yeah,
let's get to of course, our fearless leader on a
Saturday here thirteen plus years now, I've told you your
runs a top producing Keller Williams team, the Florida home
pros Keller Williams Innovations. You'll find Jimmy D. There's jim Depola.
Jimmy D. Hey be hey, I'm doing okay, I'll stall
it for you as long as I get Yeah, I know,
I appreciate it.

Speaker 4 (04:41):
Struggling its headphones are all.

Speaker 5 (04:42):
Yeah, my headphones broke today. I'm good. I got a
whole bunch in there in the break, I'll switch about
all right.

Speaker 2 (04:50):
Now.

Speaker 4 (04:50):
The question is are those ones gonna go in the garbage?

Speaker 2 (04:52):
Oh?

Speaker 5 (04:52):
Yeah, they're bad and they're they're gone. You know I
bought these, uh, I bought these talk real estate with
Rob and Jim. So they've been around, They've been around
a little bit. Yeah, I've knocked them around. They definitely
got their money's worth.

Speaker 2 (05:05):
Nice. Well, you could you know, sometimes you knock an
ear off, you go just with one. Yeah, so you
could keep that for you know, when you choose to
knock one off.

Speaker 4 (05:14):
Yeah, what are we talking about?

Speaker 2 (05:18):
So Ross is like eyeball and those like man, those
are cut up.

Speaker 5 (05:22):
They are yours.

Speaker 4 (05:23):
If you want to looking good again, you know, yeah, yeah,
just shine them up.

Speaker 5 (05:28):
He I'm so glad to have Yeah, I'm so glad
to have the whole crew again. It's so nice to
have everybody in the room together. I mean, and thank
you to aj Aj Holman from Experienced Appraisers filled in
twice for us two weekends and what row. I really
appreciate it always gives us great information when he comes
on the show. I really love having that appraiser perspective.

(05:51):
And also a homegrown Florida boy. So he grew up
in this market and knows everything that's going on.

Speaker 4 (05:56):
That's a good thing. Yeah, Okay, correctly he does.

Speaker 2 (06:00):
He does. He's a realtor in some ways, right, doesn't.

Speaker 5 (06:03):
Yeah, he does have a realtor's license. Aja, he does
a little bit of that, but he's staying pretty busy
with the appraiser stuff right now. And just so everybody knows,
he's not really an appraiser for lenders anymore. He used
to do that for a long time.

Speaker 4 (06:18):
He's on our rotation. It's voluntary whether he picks up
jobs or not. So I think he voluntarily chooses to
do private appraisals over lendi based appraisal. I'm not sure
why that is, but that's what he does the most of.

Speaker 5 (06:34):
Yeah, yeah, and the other So he does do mostly
private appraisals. And last week we talked about the three
reasons why you need to why you would need to
hire an appraiser, and he gave us three examples and
all that. So if you want to check out more
about appraisals and stuff like that, checkout last week's show
the week before that. So glad everybody in the studio today,

(06:57):
Man h Ross doesn't even know this check because I
was doing show prep yesterday. I'm throwing you under the
bus in a good way. This is a good thrown
under the bus. Yeah, this is a good bus. You're
gonna like the run over it.

Speaker 4 (07:07):
You need to do.

Speaker 5 (07:09):
Is Uh, we got more good news on the home
insurance front coming up, and we're going to talk about
that today. Uh, you know exactly how Ross thought it
was gonna I'm not saying that he was guaranteeing it,
but he predicted what's happening in the cycle that we're
having now, and it's all unfolding the way that he
expected it. You know that we talked about and agreed

(07:32):
that probably will happen that way. So we're gonna talk
about more good news about reducing costs for home insurance.

Speaker 2 (07:38):
Cool.

Speaker 5 (07:39):
I know Ross, we I said you were a guy
last week. I think his name was Adam. I'm sorry
because I sent several people a bunch of different places,
but I texted him then he said, this stuff looked
really good that you sent him in that he was
just looking for a discount on his insurance. And he
said when he got back in vacation to be calling
you or whatever. So more savings for more customers all

(08:02):
he wanted to do. He heard our show a bunch
of times, doesn't really know us that well, but he's like, hey,
I just got a really bad insurance bill. Let me
see what Ross can do you know, and it looks
like no, you know, it looks like he's going to
get some relief there, and good for him.

Speaker 2 (08:16):
He got answers pretty easily.

Speaker 5 (08:18):
Yeah, yeah, it's pretty easy. He sent me an email.
That's the guy who sent us the declaration page Ross.
He even sent the declaration page guy. This guy listens
to our show.

Speaker 2 (08:28):
That's awesome.

Speaker 4 (08:29):
So Kyle, who's a listener, was listening last week too
and emailed me, and then he emailed me when when
the show was going on, and then sent an email
to like followed like two minutes later. I said, oh man,
I just heard the rest of it. I got to
send you my deck page later. He actually sent it
to me yesterday, perfected up. I don't care if you

(08:53):
cross out what you're paying. I just want to see
the coverages.

Speaker 5 (08:55):
Yeah yeah, yeah, get a better result. So we're going
to be talking a little bit about that today, about
why we have more good news on that front. We're
also going to be talking about, oh, this is to me,
this is very interesting. We're going to be talking a
little bit about what the FED talked about at the

(09:16):
meeting of the Minutes when they cut the quarter point
there is a lot of talk about the housing market,
specifically not so much unemployment, more housing, and what their
thoughts of the future, how the housing outlook might affect
their decisions about the rate cuts or maybe not rate cuts. Also,
Fanny May came out with new projections of what's going

(09:38):
to happen with the GDP, but more importantly, what they
think the interest rates are going to be by the
end of this year and where they think they're going
to be at the end of next year in twenty
twenty six. I think the rates are going to surprise everybody.
What they're predicting very surprising to me, at least.

Speaker 2 (09:56):
This is Fanny and Freddy's prediction.

Speaker 5 (09:58):
This is Fanny May's prediction. Yeah, Fanny Maid's prediction. I
thought that was kind of interesting. Also, we're going to
talk about interest rates because I've been pushing it off
for a while waiting for Mike to come back, and
we're going to talk about what's happened in the month
that Mike was gone. That's right, one twelfth of the

(10:19):
year poof gone from my brow.

Speaker 4 (10:22):
I feel like it was three three shows where it
was that I was at f s U for family
weekend when I was in New York. Why did I
miss another one?

Speaker 5 (10:32):
You definitely missed three, but I think you missed four.
But there was you missed one, then you came back
for a week, and then you missed three more weeks,
So you missed one twelfth of the year.

Speaker 2 (10:42):
How dare house New York?

Speaker 4 (10:45):
So it's not New York City where the family we
visit is in. Uh, I guess it's upstate. I mean
it's not Manhattan. So is that upstate?

Speaker 5 (10:55):
Is the near Woodstock? Like that area?

Speaker 4 (10:57):
It's Uh, it's called Port Jervis. And you know where
New York, Pennsylvania and New Jersey all meet, Okay they
come together, It's called Port Jervis.

Speaker 5 (11:08):
I've been to the city of Woodstock. You know, Woodsuck
didn't happen in Woodstock, but it was close. But uh,
that city. I love that city, Woodstock. My parents took
me up there when I was a teenager. That was
an awesome little country, quaint country town.

Speaker 2 (11:21):
Yeah. And one thing I love about the Northeast is
that you can just get in the car and go
a couple hours in your whole new state, Like in Florida,
go ahead and drive like you know, five six hours
still Florida.

Speaker 4 (11:31):
Yeah, yeah, you can drive eight hours in Florida.

Speaker 2 (11:34):
And you're in Florida. Actually I was. I grew up
in California's kind of the same way unless you went,
you know, you could.

Speaker 4 (11:40):
Drive what like straight east thirteen hours right downt mile
one yeah, yeah, a mile one, go all the way through,
you know, over to that'll take you Louisiana.

Speaker 2 (11:50):
That'll take you a minute eight seven seven nine two
seven six nine six nine toll free. Who we got
over there, Jimmathy.

Speaker 3 (11:56):
We got Mike speaking of New York. We got Mike
checking in from New York. He wants to talk about
can costs when buying a home. Hey, Mike, welcome to
Florida Talk real Estate.

Speaker 6 (12:04):
How are you guys doing today, Hey, Mike, very very good.

Speaker 4 (12:08):
We know that.

Speaker 5 (12:09):
Just so the audience knows, Mike just bought a property
in central Florida area. He called us from the show.
We got him a top agent. Josie never called me
back Mike to set up that, uh three way interviews,
So I'm gonna have to bug him again this week.
He's a busy guy, I know.

Speaker 6 (12:26):
Yeah, yeah, So I just had a couple of things
to go over, so we purchased the new home in
July and Haines City. And first I want to give
a shout out to my home Watch Services Mike Weisner.
And he is located in where does it say Services
of Florida, LLC. Let me just can I put a

(12:48):
phone number out there?

Speaker 5 (12:50):
Uh no, not not right now, Mike, Yeah.

Speaker 6 (12:54):
Home Watch Services of Florida. His name is Michael Wisner. Anyways,
what he does is he comes to our home once
a week for a fee, obviously, and he varies his
hours of days so nobody can keep an eye on
you know what I'm saying, The house is just sitting.
And then secondly to that, I just wanted to call

(13:14):
and explain, even though you have a new home, things
need to be addressed. We had to have a fence
put up because we have a dog. When we moved
down there full time. We're still living in New York
till next July. It was suggested we put gutters on
the house, and once I saw the rain down there,
we did that. Things class thousands of dollars. And then

(13:37):
also too, we had a mole issue in the backyard.
I'm getting that addressed. I've got red ants in the
box where our reclaim water meter is that needs to
get looked at because there's a leak between the meter
and the sprinkler system controls. So our bill was like

(13:58):
one hundred and eighty for a couple of months. It
was ridiculous. So that's where we located the leak. Builders
handling that Marriage homes have been fantastic thus far. Any
issues we've had, they've addressed. So I'm going down next
week to do some work on the house. But whether
you're buying a used home, a new home, anything, people

(14:21):
need to realize it may be in your budget to
pay your mortgage, but there's just a lot of there's
a lot of phantom costs that come along with that.
I'm paying a landscaper, I'm paying home watch services. That's
just being a responsible owner. And what else did I
want to say about that? Now? That's pretty much it,
Because I never hear really much about You hear about

(14:44):
people buying houses, but you don't really You may not
understand that there's phantom costs, or you may have to
pick up some tools and learn how to do things
yourself a little you know.

Speaker 4 (14:54):
Oh yeah, when when I first heard that introduction, Mike
that you were talking about hidden costs from buying home.
I was thinking, okay, it's like closing costs related to
your settlement or to your financing. But he's talking about costs. Yeah,
like that phantom costs. I cast you need money even
after you buy the home, just in case he bought

(15:16):
brand new construction, right yep. So yeah, it's actually it
goes to a point when when people are talking to
me about you know, sometimes the question is should I
put more money down, you know, to get a more
comfortable payment, And I say, of course, yeah, if you
if you can, absolutely, but the bang for the buck there,
it's about, you know, at today's rates, Jim, it's about

(15:36):
thirty five dollars on your payment, your principal interest payment
per five thousand dollars of money that you put down
so you could borrow five thousand more, your payment's going
to be thirty five dollars a month higher, right, kind
of ballpip somewhere between thirty and thirty five, depending on
your rate. And so that question is, well, where's that
five thousand. Let's assume that you have a choice. Where

(15:57):
is that five thousand better served, like in your bank
account accessible to you for things like what Mike is
talking about, right, or other moving expenses, whatever it is,
or stick it into the piggybank, which is the equity
position of your home, which is great but difficult to
access if you needed it, right, especially like immediately after purchasing.

Speaker 2 (16:18):
Right.

Speaker 4 (16:18):
So it's something that people have to consider for sure.

Speaker 2 (16:21):
So one of the conversations I love that you have
with folks there because that's yeah, You're like, I don't care.

Speaker 4 (16:26):
And of course it's the loan guys like, yeah, of
course you should borrow more, right right, You're like, it's
your loan guy giving you this advice.

Speaker 2 (16:32):
You seem to lean into a lot of times, like,
yeahs cash is king. I like to hang on to
my cash.

Speaker 4 (16:38):
What would I do if it were me? Yea from
talking about lower my payment thirty five bucks or even
seventy bucks or keep ten k kind of available accessible
even if you never use it. It can be there, right,
That's a good feeling. Once it's in the house. It's
just hard to get out. It's hard to get out, yeah,
especially if you need it quickly.

Speaker 5 (16:56):
When have you come back down since the original purchase, Mike.

Speaker 6 (17:01):
Have I come back down to Florida?

Speaker 4 (17:02):
You said?

Speaker 5 (17:03):
Yeah, yeah, to visit the house.

Speaker 6 (17:05):
I'm coming down this week. I'm spend ten days there,
obviously working on the house. What was the last thing
I want to say, Oh, this is a good this
is a great example. So the home had been sitting
six to twelve months before we purchased the home, so
I wanted to have the AC system looked over completely.
It was found low to be on. It was found

(17:27):
to be low on refrigerant, and I myself, I'm an electrician,
but I don't deal with any of that. When it
comes to refrigerant, I think you need a license to
purchase that. Whatever it may be. It was four pounds low.
Guys showed me on his meter. We're on the phone,
et cetera. It's hard to troubleshoot from fifteen hundred miles away.

(17:48):
I'll tell you it's a little frustrating. But he had
to put four pounds of refrigerant in plus the service.
You're at five hundred and fifty dollars. I didn't call
you to complain about money. We set our selves up
correctly so that we have money in the bank. I
didn't even touch our savings. But I'm just saying there's
there's a lot of costs.

Speaker 5 (18:07):
Shouldn't it been under warranty?

Speaker 6 (18:11):
The company, the company that I called, I the company
that installed it. I could not reach your correct about that.
And then I did a little research on who's the
best down there. Comfortable with this company, so I'm going
to stay with them. They're meeting me the service tech.
Same guy is going to meet me. He's actually from

(18:32):
upstate New York. He's going to meet me the monday.
I'm down there, and we're going to go over the
readings on the refrigerant just to make sure there's not
a leak somewhere. We want to make sure. I think
it's like fourteen pounds that have to be in the system.
And I don't know. I'm just excited to get back
down there. But you know, a couple of things, a
couple of things have arisen where it's added up a

(18:53):
little bit.

Speaker 2 (18:54):
Yeah, those that's a wonderful lesson for a bunch of
homeowners out there then, And I think it's a worthy
conversation too, like, hey, just be mindful. Some things can
pop up that you kind of otherwise thought we're going
to be handled. Hey, we hope that you have safe
travels coming down to Florida. Thank you very much for
the phone call on a Saturday. You are very much
appreciated out there.

Speaker 5 (19:14):
Well were you saying, Mike?

Speaker 6 (19:16):
I was going to say one last thing. A friend
of ours got an electric bill I've spoken about. I've
spoken about our electric bills in New York or bills
like seven hundred. She couldn't afford it. She had to
put like half on a credit card. So that's what's
going on up here with electric it's getting crazy.

Speaker 5 (19:32):
Well, you won't have that problem down here for sure.

Speaker 6 (19:37):
For what you guys, have a great weekend.

Speaker 2 (19:39):
Okay, you as well at safe travels when you're coming
down to Florida eight seven seven nine two seven six
nine six nine toll free into the studio if you'd
like to join the program, you're more than welcome. Of course,
if you're not comfortable on the radio, I understand, you
can always go to Florida Talkrealestate dot com. You're one
stop real estate shop. You all have access to the
entire team pros, pros experts in their field at Florida

(20:01):
Talkrealestate dot Com. Remember on Facebook and YouTube as well,
consume and share. You can change lives, including your very
own with the Prospros the floridatokrealestate dot com.

Speaker 5 (20:10):
Hey, thanks, Johnny. I just wanted to for the shout
outs today. I want to I want to say I
finally put up the post because Nate Shamie I forgot.
Thank you Nate, one of the loyal listeners from Facebook.
I guess watcher Facebook YouTube. I just put out the
post on the Facebook page for the Nights of Pythagoras

(20:30):
Mentoring Network for the donations to raise money for a
new computer. Mike, you don't know about this. That group
that we helped get the donation from the car and
the food drive that we did a while back and
clothing drive. We're trying to raise money for a computer
for their podcast. Their computers about dead for the kids.

(20:51):
And I had a techie guy down here and he
told me the type of computer would be great for
those kids last a long time.

Speaker 2 (20:58):
Cool.

Speaker 5 (20:58):
So it's Apple MacBook. I think I don't know if
it's a pro.

Speaker 4 (21:02):
Or Air Sure as an IT guy gave you that recommendation.

Speaker 5 (21:05):
Yeah, interesting, Yeah, So why would you say that Apple?
Oh yeah, so so what So? The bottom line is
is we're trying to raise fifteen hundred dollars. We put
out the link. It's an actual PayPal connection from the
site itself. It is a five oh one to three
c It's been around thirty plus years. See. Ron Allen

(21:25):
is the founder and organizer of the group. I've known
Cron for since nineteen eighty seven.

Speaker 2 (21:31):
Yeah, we.

Speaker 5 (21:33):
We have a bunch of times. So please help us
donate and raise the money. We're trying to raise fifteen
hundred dollars. Please go to that link and reach out.
If you have any questions, please give us a call.
That group is awesome. They impact the South Florida community
in so many different ways with these kids.

Speaker 2 (21:50):
And again, if you can hit share on there, you
you never know because if just a bunch of people
give a dollar, it goes really quickly. Uh you know. So, yeah,
if you can hit share, man, can you can help
generate a few bucks? That'd be fantastic because this is
a wonderful cause. And again, these kids, they got a
lot of passion for this and Jim, Jim's got a
lot of passion for the kids as well. It's about,
you know, trying to make sure these kids can continue

(22:11):
to do this and do it right because they're they're
pulling it off with hamster wheels and things right now,
so let's try to hook them up. And that's on
the Facebook page.

Speaker 5 (22:20):
Yes, yes, it's on our Facebook page Florida Talk Real Estate, LLC.
And it's our most recent post up there. So all
you got to do is go there, click on the link.
I don't want to be in charge of collecting the
money or anything. I just want to try to point
people in the right direction to help. Totally, Okay, totally
and so yeah, so you have no questions in one
hundred percent of the money goes to the kids in

(22:43):
the operation. There is no money. You know, when I
used to be a newspaper reporter, there used to be
these reports that you could see of how much money
was going to the actual charity versus the.

Speaker 2 (22:55):
Administrative administrative hid.

Speaker 5 (22:57):
Yeah, like I've been getting a lot of calls from
those law quote and I'm putting these quotes law enforcement
agencies asking us to help the law enforcement agencies, and
most of those when you look those up, you know,
like fraction of a dollar, you know, pennies on the
dollar actually go to the charity versus the administrative costs.

(23:20):
So you just got to be really careful. This is
one hundred percent with se Ron Scroop, and he's been
doing it for years and years. So let's talk about
those kids. And let me tell you, some of those
kids have to be totally dedicated because they have a
show every single week. They got to produce, They got
to line up guests, they got to figure out their interviews,
they got to do the live show itself, produce it.
You know, there's a lot of discipline that's involved when

(23:42):
you're doing something like this Jim's saying with the broken
time with the.

Speaker 4 (23:47):
Head clones right now, there's also funds.

Speaker 5 (23:50):
If anybody want to help me buy head clones, I'll
set up another account for that. So please anybody that
could help. I appreciate you.

Speaker 2 (23:59):
Help.

Speaker 5 (24:00):
Helping them is helping us too, because it makes us
feel good and it makes you feel good when you
help people. So try to do that if you can.
The other thing, Oh, I want to talk about reviews
just for a second. Okay, So for the first time
in five years, six years, I got a bad review

(24:20):
on Google. I was pretty surprised about it because I
did not represent the person that wrote a bad review.

Speaker 4 (24:28):
That's interesting, so I really didn't like.

Speaker 5 (24:30):
You, Yeah, So what happened was in this case and
there's a so what happened was is and this is
also a teachable moment for sellers, for sellers and for buyers.

Speaker 2 (24:42):
So somebody going after you're driving there like he didn't
use his blinkers.

Speaker 5 (24:47):
So what happened in this case was the buyer bought
the house, and then three or four weeks later, I
get this really nasty email or text late at night
saying that the buyer unexpectedly had to pay an h
AWAY contribution fee, which means when you join a community,

(25:08):
sometimes you have to pay an extra fee called a
contribution fee that's sometimes refundable, sometimes it's not. It's usually
like what a quarter of hwayfee is or a monthly
HIA fee depends in each community. Well, buyer, my sellers
did not disclose that there was a contribution fee the

(25:29):
title company when they got the estope letter, which is
the letter from the HIA stating is the house and
good graces and what are the responsibility of the buyers
that didn't mention a contribution fee? But three weeks later
I'm getting this nasty email from the buyer who I
did not represent. Saying that they wanted me to pay
the contribution fee because my sellers did not disclose the

(25:52):
fee right And I was like, that is not a
realtor disclosure. That's a seller disclosure. That's why they call
it the seller disclosure. And it was a mistake by
my sellers, for sure. And this is a very common
thing that happens where the sellers don't know all the
rules and regulations in their community, whether it's an hoa

(26:13):
or condo, and if you don't give certain information about
those communities to the buyer, it can create a big
headache for you.

Speaker 2 (26:21):
So I'm sorry to interrupt, but don't they get, like
the buyers, don't they get some kind of like packet
of the rules for the hoa? And so it was
that in there.

Speaker 5 (26:30):
I don't know the answer to that, but it was
overlooked for sure by the property management company which represented
the hoa, the homeowners' association, and both the sellers who
were going through a very bad I'm going to call
it a split up. I called it war the roses.
When I was going through this, I was a quarter
pointed realtor, so it wasn't a happy time. This is

(26:52):
a rough deal. And they mistakenly said that there was
no capital contribution. So I went back from to help
out the buyer. I went back to the sellers and said, hey, look,
you guys did an oversight. She's asking to pay. One
of the sellers said they would pay half. The other

(27:13):
seller said, this is all Jim's fault. He's the one
that turned in the forums. They're the ones that gave
me the information right that I turned in. But they
said it's all Jim's fault. Jim should pay it. I'm
not paying it. So I got legal advice. The legal
advice was, well, maybe you can get them to take
away the bad reviews if you pay the fee, or
if you pay half of it or something like that.

(27:35):
And you know what I decided. I decided I'm a
really good realtor. I care about people. I worked really
really hard on that case, and instead of trying to
take away the bad review, I'm going to ask everybody
that's listening to the show right now to give me
a good review. Right give this team a good review,
not just me. I'm not asking you go to my site.
I'd like you to go and google Florida talk real

(27:56):
Estate to LLC and then on the right hand side
of the screen and see the Google reviews. I have
more reviews on other sides, but I'd like to do
this on Google specifically, and if you could just go
over there and either say, hey, I'm a big fan
of the show. I love listening, even if it's just that,
not that you had to do a deal with us,
but just let people know that we're legitimate and we

(28:17):
do the right thing, and you like listening, and why
or if you've done a deal with us in the past,
no matter how many years ago, or if we just
gave you great advice and you didn't do anything like
Ross you called out for insurance quote and Ross found
out that you were good with the insurance policy you
had at that time. Right, that's a really big help
to people. So if you could go to Florida Talk

(28:38):
real Estate on the Google page and give us some reviews,
I'd really like to. That's the way I'd like to
deal with this. Instead of trying to fight a one
negative review, let's overload it with positive reviews. So I
hope you guys could help me out with that.

Speaker 2 (28:53):
Yeah, it seems very doable.

Speaker 5 (28:55):
Yeah, So thank you very much, and thank you for
letting me go through all that. It was pretty upsetting
me because I haven't had a bad review in like
six years. And the last time I had a bad review,
if you look up on it, that one's on Google
review and I forgot about that one. And that one
was another buyer who bought a house and the problem
with they had was there was a porch and when

(29:15):
they pulled out some like screening for the ceiling, they
found out that there looked like there I had been
past water stains or something there now that was completely
covered during the sale of the house. The inspect their
inspector didn't catch anything, didn't show that there was any
damage to the house, just that there had been passed
water damage at some point. And the guy gave me

(29:37):
a really bad review, saying it was my responsibility to
tell them about problems about something that was covered, you know,
hidden behind you know, yeah, finishes and like blaming it
on the relter and you know, you just get that sometimes.
So I'd rather kill him with kindness. So please help
me out. I appreciate it, Thank you very much. Okay,

(29:59):
why don't we go go ahead and take a break.
Johnny on the flip side, let's talk about some good news.
We're gonna talk about insurance and what the good news
on that insurance stuff is. After that, we're gonna slide
right into also another good news thing, the student loan program,
the student loan forgiveness program is kicking back in again,
and there's a lot of people that are gonna be
helped where their debt is finally gonna be wiped out

(30:21):
for good Johnny, And we're gonna talk a little bit
about that program.

Speaker 2 (30:24):
Very good. Lots to get into. Remaining on a Saturday.
Thanks for being there, Always welcome to be a part
of the program. Remember it's toll free eight seven seven
nine two seven six nine six nine. If you're dialing
right now, it's a quick for minute break. Of course,
if you choose to do after the break, I totally understand,
and I do believe believe me when I say I understand.
If you're not comfortable on the radio, I'm still not

(30:46):
totally comfortable on the radio. That's why I might lead
you over to Florida Talkrealestate dot com. You have access
to the entire team. You're looking for a professional if
you're looking to buy a home, sell a home, stuck
with a home you don't know what to do, and
you need somebody to give you some professional guidance under
staying you trustworthy aspect. Somebody you know has giving you
the real deal. Go to Florida Talkreestate dot com. Write

(31:06):
it down, know what, use it, love it, share it.
You can change lives, including your very own, with the
prospros at Florida Talkrealestate dot com. We're back and forth minutes.
Thanks for being with us every Saturday right here on
Real Radio.

Speaker 1 (31:31):
This is Florida Talk real Estate with Jim Depola and
Johnny c. Got a question for the show, Call us
live at one eight seven seven nine two seven sixty
nine sixty nine.

Speaker 2 (31:41):
Yeah, go ahead, Dylan. If you'd like questions, comments, concerns
in the world of real estate, if you'd like to
be involved with the conversation at hand, or you know,
you just want to bring something on the table here,
you're more than welcome. Eight seven seven nine two seven
six nine six nine. Jim Athy willign you up there,
at least I believe you will. Is that true? Hell?

Speaker 4 (31:58):
Yeah, we'll do it up.

Speaker 2 (31:59):
Give me keep me busy, nice, it's a dasy eleventh. Right,
we're live on the eleventh day of October. It's crazy,
it's already.

Speaker 4 (32:09):
That's a time dilation again for you.

Speaker 2 (32:10):
Yeah, it's just man. I did twenty one Pilots last
night and it reminds me of It reminds me of a.

Speaker 4 (32:19):
That's a lot my record's like eighteen eighteen.

Speaker 2 (32:22):
Well, you better step up your game. I'm over. You're
a way better shape than me. And it reminds me
of a line. Days feel like the perfect length. I
don't need them any longer. But the years seem way
too short from a soul course, so, way too short
from a soul course.

Speaker 4 (32:40):
Song quarter so nice? Yes, which song is that? Because
I don't recognize the lyric, but it sounds something.

Speaker 2 (32:47):
It sounds familiar, overcompensated from the last album.

Speaker 4 (32:50):
Clans wouldn't have heard it.

Speaker 2 (32:52):
They actually, uh, they let off the show last night
with it. They left the last tour with it too.

Speaker 4 (32:57):
Yeah. Yeah, I love twenty one Pilots, but I really
have only like really listened to Blurry Face, which is
a great album.

Speaker 2 (33:05):
You got a lot to catch a lot that I
haven't listened. Yeah, the lure actually came to an end.
Well I shouldn't say an end. You know, spoiler alert
because it doesn't quite end. But the lure, if you're aware,
there's a lure to their their albums, like a.

Speaker 4 (33:20):
Fishing, like a lure. Yeah, a lower.

Speaker 2 (33:25):
Yeah, uh huh. A story.

Speaker 4 (33:26):
Yeah, the story is running through all of them, not.

Speaker 2 (33:28):
Every song, but through from Breach through or excuse me,
from Blurry Face through Breach their latest album.

Speaker 4 (33:34):
You have to listen to it backwards.

Speaker 2 (33:36):
Yes, speed, yes, yeah, but uh did that last night
and like I said, reminds me of very much of
that lyric, like that years just zoomed by. Many days
are pretty good. Some days I'm like, well I could
use it probably ten more hours, you know. But most
days I'm like that's pretty good. Good, good amount of time?
Yeah good, Yeah, when's the day over? Yeah right, get

(33:57):
to that point. We're actually going to Tampa right after
the show. Go see to one of one piles again.

Speaker 4 (34:01):
Wow. Yeah, when I finished the story, hopefully they didn't
finish it. What about this? I have a guy in
my business group, his his favorite band. He he like
did a presentation and they're like, what's a fun fact
that nobody knows about you? And he said something like
he's seen his favorite band in concert over seventy times. Wow,

(34:22):
that's awesomething like that.

Speaker 2 (34:23):
That's fans.

Speaker 4 (34:24):
Now, are you wondering what the band is? Does that
the can I take it? I want to guess too.

Speaker 2 (34:28):
You're never going to get it, never, No, okay, because
there's there's a few bands that kind of go you
go yeah, yeah, yeah, like Dead My number one was
going to be you're going pro jam that's another one.
There's a lot of pro jam folks, right.

Speaker 4 (34:44):
I like all these guesses, but you're not going to
get it. It's three eleven.

Speaker 2 (34:47):
Oh okay, Yeah, nice. They have a hardcore fan base.

Speaker 4 (34:50):
Apparently their music's good.

Speaker 2 (34:53):
Three eleven is awesome. Yeah, go back and listen to
those like like every summer.

Speaker 4 (34:57):
Nineties early two times. I it's another one where probably
had the one album that I would have known.

Speaker 2 (35:02):
He's a here's a fun fact you can tell your buddy.
He probably knows. You know what the name three eleven
comes from? Uh?

Speaker 4 (35:09):
I see it on the clock face from time to
time digital clock.

Speaker 2 (35:12):
It's the police code for indecent exposure. Oh and Peanut
bass player. He came up with it and they were like, yeah,
sounds good. I like it.

Speaker 4 (35:21):
He saw that on his chart exactly last SunFest.

Speaker 2 (35:26):
I think you're right. One before.

Speaker 4 (35:28):
I don't know if I missed a year or whatnot.

Speaker 2 (35:30):
But yeah, they were at a SunFest, remember freighting. I
brought him out on stage.

Speaker 4 (35:33):
They didn't do some tests Lasher. Did they do some
pest lash something?

Speaker 2 (35:35):
I think I think two years ago was the last one. Yeah. Yeah,
they're replacing it with like an E d M festival.
I think, if I'm not mistaken, it's just a good draw.

Speaker 4 (35:43):
Yeah, seems to be a big thing down the South.

Speaker 5 (35:47):
You know, that's funny you just said the three eleven thing,
and being a former crime report is like, that's not
That's not the tenth code for indecent exposure, right, So
the ten code exposure is ten seventy six. The three
eleven is the law, the law code. It's not the
ten code. Huh that's a murder, Yeah, that's the No,

(36:10):
that's a statue.

Speaker 2 (36:11):
If you get a ticket for a decent exposure, it's
gonna be three eleven.

Speaker 5 (36:15):
Yeah, exactly, because that's the state statute that you're using
at the time. I was thinking ten code then when
you were saying that, because my favorite is, uh, you know,
signal six well, there's two different kinds of codes for police,
at least down here. There's the ten code and then
there's a signal code. Right, so ten four is like
okay and stuff like that. Right, So they have that,

(36:35):
but then they have like single zero, which means you're
armed in dangerous signal zero. Signal one means you're armed
or something like that.

Speaker 4 (36:42):
Other armed and dangerous.

Speaker 5 (36:43):
Yeah, one's armed in dangerous. The other one is like
maybe a knife and not a gun. I forget, I
don't know them all, but I mean the perpetrator is armed. Yeah,
you just say, we got a signal zero. So use
you're on the you know, you're you're going to the
scene is like signal zero at you know at this
ADDEU is blah blah blah, and you're telling the cop,
you know, hey, be careful there's somebody armed and dangerous

(37:04):
there or whatever. Right, you be on the lookout or whatever.

Speaker 4 (37:07):
See old TV show car fifty four.

Speaker 5 (37:10):
Car fifty four years that's all right, I think it
is a car fifty four way back. Yeah, that's pretty old.

Speaker 2 (37:18):
He's the mortgage guy from the mortgage firm. There's a rosterman.
That's a bright way to Sharance, you know Beach and
of course Jimmy d Florida Home Pros Team, he wanted
to do.

Speaker 5 (37:27):
Yeah, I wanted to do a shout out to Nate.
Nate just did a donation for the Knights of Pythagoras
Mentoring Network to help raise some money for the computer.
Thank you, Nate, really appreciate it. Everybody else, please go
to our Facebook page, Florida Talk Real Estate, LLC. And
go over there and click on the donation. I have
it directly on the donation chab, but you can search

(37:49):
around the site to get familiar with what the group
is in case that's very important to you, and then
go in there and click the donation page. And then
if you could give a donation and Florida Talk Real
Estate will be matching up to seven hundred and fifty dollars.
So please, anybody that could go out there, that would
be great.

Speaker 2 (38:08):
Beautiful, Thank you.

Speaker 5 (38:10):
Okay, next thing, hold on because we do have a
lot of stuff today. Oh okay, So let's talk about
good news, which is property insurance. Okay. So the reason
why I say such good news is is that the
insurance industry has come out with a new reports stating
that they expect that if we don't get any woodstorm

(38:32):
damage coming between now and the end of hurricane season, right,
they're expecting to get pretty hefty drops in insurance very soon.
And there are some stats in here I thought that
were kind of interesting. So the headline or the lead
of the story was property insurance and brokers expect rates

(38:54):
to continue falling into twenty twenty six unless a major
windstorm his in the United States before hurricane season ends
November thirtieth. Meeting at an insurance leadership form this week,
past the midpoint of the season, senior executives said the
sometimes double digit rate decreases seen over the past year

(39:16):
will continue as new capacity enters the market.

Speaker 4 (39:20):
Double digit decrease, right, And that's.

Speaker 5 (39:23):
What we've been saying with Ross. That's why Ross has
been getting over his great.

Speaker 4 (39:26):
Ninety nine dollars. Somewhere between ten and ninety nine dollars.

Speaker 5 (39:29):
So not me smiling, Jimothy's smiling right now. He saved,
he saved a good amount.

Speaker 4 (39:34):
Of money an annual premium in the other part of
the States. Yeah, we're like, I've seen some fourteen percent decreases,
oh percentage percentage, But then.

Speaker 5 (39:46):
Oh, you were thinking about twenty bucks.

Speaker 4 (39:48):
Yeah, dollars, dollars ninety.

Speaker 2 (39:53):
That's funny. This side of the room, we're on dollars.
You guys actually said percent.

Speaker 5 (39:57):
Yeah, that's funny. I didn't know why you guys are
conflating like it.

Speaker 2 (40:00):
Could be like ten bucks, what are we doing.

Speaker 4 (40:02):
Or ninety n Yeah, well on the high side.

Speaker 5 (40:04):
And Jim Athy saved about sixty. I counted. I calculated.
So if you don't mind sixty two to fifty a month,
that's great, right, that's for changing it around.

Speaker 4 (40:13):
Now.

Speaker 5 (40:14):
Did you wait for your insurance policy to end before
you got the new insurance policy or did you do
it early?

Speaker 4 (40:20):
A little bit early? Yeah? I mean we're still doing
it the same day.

Speaker 5 (40:23):
Oh okay, you're doing it when it ends. But you
don't have to wait until your policy ends, right Ross?
If you think that, Let's say somebody could say twelve
hundred dollars a year, would it be better if they
were six months into the policy to switch out?

Speaker 2 (40:36):
Yeah?

Speaker 4 (40:36):
Absolutely, Yeah, So.

Speaker 5 (40:39):
I don't think I had to wait until the policy
it matures before you do this.

Speaker 4 (40:45):
I had a buddy of mine who I think I
think Ross did it. He's he got his roof fixed
after a prolonged insurance claim, and his insurance leading up
to that was over ten thousand dollars year. And he
then finally got everything sorted out and he was able

(41:05):
to go and shop for new insurance and it was
you know, at least half you know, or better right cheaper.

Speaker 5 (41:13):
That's six hundred dollars a month. Guys, yeah, five hundred
dollars a month.

Speaker 4 (41:16):
So then the question for him was does he wait
for his policy you know, period or does he do
it immediately? I said, well, listen, you're going to get
a pro rated refund on your super evisive policy. You
got to do it now, like, get your new one
in place now and maximize.

Speaker 5 (41:28):
That proation might pay for the whole policy. I got
a new one, a break even.

Speaker 4 (41:33):
I said, don't wait, there's no reason to wait it now,
go ahead and do it.

Speaker 5 (41:35):
What pro ration means, in case people don't know, is
let's say that you have a twelve month policy and
is started in January and then you want to break
the policy in June. Well, if you paid for the
policy in full, you should get about six months back
that you've already paid for that you haven't used. That's
what call pro ration is, so so you can cancel early.

(41:57):
A lot of people don't know a couple other things.
I did I see anything else that was in here? Oh,
let me see. So they also said that let me
see here that they that even with the steep declines
that we've already seen that the companies are still very

(42:17):
profitable and they feel that if we don't get hit
by a major windstorm event this year, they can still
drop insurance premiums and still retain a healthy profit.

Speaker 4 (42:30):
So, uh, you know that narrative is we have enough
where we like, we're fine, We're fine, you.

Speaker 5 (42:40):
Don't have to pay us this year.

Speaker 4 (42:42):
You've seen it on auto too. It's both both sides. Yeah,
both home and auto rates are coming down because it
was all lawsuits, that was all the have the combination
of a quieter event year, uh and the tough of
the lost changes.

Speaker 5 (43:02):
So ross. Just speaking about car insurance, I got a
new car recently and my policy went from if I
read this right, like forty four hundred a year to
twenty seven hundred a year. To me, that was like
a huge because the cars were about equally priced, right,
I just thought that was a huge savings shop us. Yeah, yeah,

(43:24):
so go ahead and do it. You know, all you
gotta do if you want to get a home insurance
quote or car insurance quote, you just reach out to
us on the Florida Talk real Estate page, right, Johnny.

Speaker 2 (43:34):
It's that simple.

Speaker 4 (43:35):
Yeah.

Speaker 2 (43:35):
On Facebook, you can just reach out as well. But
there's a contact page at floridatokreestate dot com. You can
call the hotline eight eight eight nine seven three seven
eight two eight. We're just gonna need some information from
you so that we can get it all over to
Ross and get you those quotes you're looking for. Of course,
if you need any of the other pros pros, they're
all there for you at Florida Talkrealestate dot com.

Speaker 5 (43:56):
Wanted to go into Oh here it is. I was
gonna say, where is? This is an article in the
New York Times about what's happening with the student loan
programs based on income based. They're only talking about income
based programs as well.

Speaker 2 (44:10):
Always was right.

Speaker 5 (44:11):
Well, there's a lot of other programs too, but they're
the income based. I learned so much in this article
from New York Times. And we've been dealing with this
since what almost since we began the show, we've been
doing student loan things, and we've been saying that the
student loan program has been out, This income based repayment
plan has been out since two thousand and nine, and

(44:32):
nobody talks about it. And we've been using this program
for so many people, right Mike, to help them reduce
their debt to income ratios so they could afford more home.

Speaker 4 (44:43):
Get them into a good program that's better than any
other repayment option that they have on their love right.
So it's like, get into the best repayment program that's
going to suit you best, and have the added bonus
of the what is it, forgiveness at the end.

Speaker 5 (44:59):
Yeah, a full forgiveness at the end. And the way
that this program they called it the IPR program, I
never knew what to call it when we thought it.
We always called the Student Loan modification because I made
that up. But it's called the.

Speaker 4 (45:16):
IBr income based repayment.

Speaker 5 (45:19):
Yeah, income based repayment. But what I found out was
is that there's like four income based repayment plans and
only one was approved by Congress, which was in two
thousand and nine. So my information I've been saying all
these years is correct that the law was passed in
two thousand and nine. It was a law was passed
by Congress that allowed public service workers to base their

(45:44):
payment on the ability to pay, which is based on
their income each year, and you just pay what you
could afford based on the federal government's mathematical formula. And
if you do that for twenty years, the payment is
wiped out. Whatever you haven't paid is forgiven now.

Speaker 4 (46:03):
So it wasn't that you said. I think you said
government employees there, federal employees, something like that. So it's
federal loans, so federally back loans or the twenty years,
thank you. If you're in public service, right, some sort
of public.

Speaker 5 (46:20):
You would get twenty years, ten years. They had it
at twenty in the In.

Speaker 4 (46:24):
The twenty I think it's for anybody. I think you're
right my number, the ten years the public service employees.

Speaker 5 (46:31):
But they're talking about the twenty years. They never even
mentioned the ten years in this article, which I thought,
twenty is for everybody. So one of the things I
want to tell you, and I have notes in here
case so because I actually had to take notes on this.
So the first thing I wrote was Student Loan Program
restarted first note I wrote very complicated. It's very complicated
because here's the thing. The IP, the IBr Income Based

(46:55):
Repayment Plan is a law passed by Congress and it's
in there and you can't change it because it's a law, okay,
passed by Congress. But there's four other income based repayment
programs that were approved by presidents and they have been

(47:17):
argued against as being illegal and upheld by the Supreme
Court that those were illegal because they weren't approved by
Congress and the president wasn't allowed to create these programs.
So what happened when the new administration came in January,
they shut down all the programs. So all the people
that were ready to cash out on their twenty year forgiveness,

(47:43):
they stopped it and just said we're not doing that.
And it's been shut down for nine months. So they
opened it up again just for the Congressional Law one,
and anybody that has that Income based Repayment Plan, it's
up and running again, and you can if you're scheduled
for forgiveness, you can get the forgiveness. Now here's the

(48:05):
other thing that's complicated about it. When you are forgiven
any kind of debt that's technically considered income that you
have to pay taxes on. So let's say you had
three hundred thousand dollars a student loan debt, but you
only paid back one hundred thousand of it over the
twenty years, and you have two hundred thousand that's forgiven. Well,
then sometimes you might have to pay capital gains taxes

(48:28):
on that two hundred thousand, even though you never made
the money or anything. It's money that was forgiven that
you owed. Well, they had a law that was passed
for twenty one through twenty twenty five that if your
loans were forgiven during that period, it would be automatically
tax exempt. So it ends this year, so we've only
got like, what not even twelve weeks left, We've got

(48:51):
what ten weeks left. So they open this up so
that people can try to get this done before the
end of the year, so that the he is going
to be forgiven, they get the tax break.

Speaker 4 (49:03):
They also happened to be one of those people where
this was the year twenty twenty five was the year
that you've completed your twenty years of payments, that's going
to be put you in the tax exempt category. And
I guess to be determined if they're going to extend
that benefit.

Speaker 5 (49:21):
Well, they said that it might be extended, like if
you do this year, but they don't give you all
the paperwork until after the first of the year to
get it forgiven. It might be retroactive. They're not even
sure in that yet because there's no time.

Speaker 2 (49:34):
Right.

Speaker 5 (49:34):
We got ten weeks to fix all this thing that
they fell back for nine months, sure, right, So the
other problem that they're having with that is, well, here's
some good news. If you are eligible, you're supposed to
be getting something in the mail telling you what your
status is with your student loan program, okay, and whether
it's going to be forgiven or not, and the criteria

(49:55):
for that and how that's going to work. Okay. They're
saying you might be getting this stuff as early is
October twenty first, So anybody with federally backed loans, keep
an eye out in your mail and open up your mail,
because you might be getting the Willy Wonka Golden ticket.
Right to remember that. We used to call it that
back in the day where you got loan forgiveness. So
maybe you'll get the Willy Wonka loan commitment now here's

(50:17):
the other thing you need to know. This is all
way too complicated and way past my payscale. I read
that article three times. I was like, I don't think
I could say it correctly. So we're gonna get Paul
Krasper in here on the twenty third and two weeks.
He'll be in and we're going to talk about this.
So anybody with student loan programs, keep an eye out
on Paul's here. We're gonna have some great information on that.

Speaker 2 (50:35):
Excellent. Sounds good.

Speaker 5 (50:37):
Okay, let me see what else. Okay, that's the student
loan program, property insurance rates. Oh, just just to round
out a little bit something here, Try it to Entitle.
Try To Toll has been a sponsor of the show
since twenty thirteen. One of the best titled companies I
think in South Florida. But what makes them different, and
one of the things I wanted to bring up is

(50:58):
that because Todd Title is connected to the largest title
network in the country, that we can basically close almost anywhere.
So it's a really big benefit to our customers when
they use treadent Title. For a couple of reasons. Number one,
their attorney back, that's right, you don't have to have
an attorney in Florida, unlike New York, where you have
to have an attorney involved for title not down here

(51:20):
as the Wild West, but they go to the higher
standards where it's attorney backed. The other thing is is
that we close all over the country. We've had people
closing in Michigan, selling a house down here right and
just staying in Michigan, not having to fly down and
all that inconvenience and costs, and just get it done.
We have a customer right now that was very ill

(51:42):
and wasn't sure they could leave the house in order
us do the signings. If they chose, we could have
had a notary go over there and taken care of
everything right there at their house. You could be almost
anywhere in the country. I don't think we've ever not
been able to close anywhere in the country. I remember
that in Georgia we're in a really rural area at

(52:03):
one time, and that one was a little tough because
they think they had a meet like an hour and
a half until Atlanta. But it was much better to
drive the hour and a half there and back than
it was to get on a plane, fly down here
and do all the closing down here for sure. So
Trod and tal just want to give you know, awesome
shout out to them, Yeah and say that.

Speaker 2 (52:25):
Let me see, Remember floridatalkre estate dot com, you have
access to the entire team. This is a wonderfully put
together team over the years of prospros. These are experts
in their field and you get them all one click
away of floridatokrealestate dot com on Facebook and YouTube, consume
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own with the prospros a Florida talkreestate dot com.

Speaker 5 (52:49):
What we're gonna do is we're gonna do a little
taste about mortgage rates right now, Mike, only for three minutes.
We're gonna take the break in three minutes. We're just
a little sample fite okay, and talk about that just
because that's going to slide it. Yeah, that's going to
slide into what national experts of predicting's going to happen
with the economy and interest rates in the housing market.

(53:09):
But I thought we would start off with interest rates
because you haven't really talked about it that much. So Mike,
we're at six point three percent. We went down last
week point oh four. Ironically, the week before that we
went up point four, so we're back to six three,
which we were two weeks ago. Yep, these are the
lowest rates we've had in the year in January. Since January,

(53:30):
these are the lowest rates we've been experiencing by about
a half to three quarters of a point compared to
the rest of the year. So everybody waiting for that
mortgage rate drop, it's here. It happened. Hasn't really gone
down much over the last three weeks, but we are
at the lowest rates. The other thing that was a
little disappointing to me, it has a little bar for

(53:53):
the fifty two week range in the Freddie Mack Report,
and like right now the fifty two reach fifty two
week range average was between six point twenty six of
the low over the fifty two weeks. Seven point oh
four is the high. Now. Two weeks ago, the fifty
two week average started at six point oh eight, so

(54:14):
it went up almost you know, went up point two.
So I was like, ah, so the interest rates over
the last fifty two weeks have been rising up compared
to that six point eight that we got sometime earlier
last year.

Speaker 4 (54:27):
So I was September twenty sixth.

Speaker 5 (54:30):
September twenty four, twenty twenty four.

Speaker 4 (54:33):
Was down to six point zero eight.

Speaker 5 (54:35):
Yeah, so we just so that was the lowest in
the last fifteen months or so, and well, I guess
not fifteen months, I guess thirteen months or something.

Speaker 4 (54:47):
And remember that was election Laer year last year, right,
is that right September we were leading.

Speaker 5 (54:54):
Into Yeah, that's right, Yep, that's right. There was a
lot of yeah term turbul turmoil. Yeah, yeah, there was
a turmoil, but you know, choppy water, choppy waters it. Yeah,
there's a lot of up and down, up and down.
We were yo yoing. This trend has we've really been
really this trend has been lasting, this downward trend and

(55:16):
not really going up at all, has been since January.
The rates have been slowly going down for almost the
whole year now, right, and people just really haven't woke
up to it. It's still a very sluggish market as
far as activity, and we're gonna talk a little bit
about that on the flip side.

Speaker 2 (55:36):
Excellent, We still got an hour remaining for you on
a Saturday. Thanks so much for including us on your
weekend plans every Saturday, and of course you are welcome
to be a part of the conversation. Don't be shy
eight seven seven nine to two seven six nine six nine.
If you're doll in right now, quick for minute break.
Jimmothy's got some little breakfast fare over There'll get you
some bacon or something. You on hold coffee, still wor

(55:58):
have a nice big sausage. You got sausage? Yeah, damn right.
You're such a fan of it. I thought it'd be
gone by non.

Speaker 4 (56:06):
Weird watching you eat it, you don't chew it. Twenty
one pilots.

Speaker 2 (56:10):
In a row. Thank you for being with us. Floridatalkrealestate
dot Com is always there for you. Remember it, know what,
use it, love it, share it. You can change lives,
including your very own. With the prospros of Florida Talkreestate
dot Com. We're back and forth. Thanks for being there
every Saturday right here on real Radio.

Speaker 1 (56:41):
This is Florida Talk Real Estate with Jim Dapola and
Johnny c. Got a question for the show. Call us
live at one eight seven seven ninety seven sixty nine
sixty nine.

Speaker 2 (56:51):
Still got about fifty four minutes remaining on a Saturday forty.
You welcome the dial in eight seven seven nine two
seven six nine six. If you have a question, a comment,
concern in the world of real estate, you want to
get involved in the conversation. A hand red carpets out
for you. Jimmythy's our producer, extraordin air and he's doing well.
I assume yes, I am.

Speaker 5 (57:12):
Thank you very much, Johnny.

Speaker 4 (57:13):
I hope you are as well.

Speaker 2 (57:14):
Dude, I'm so good. Thank you very much for asking. Johnny.
Is me your old buddy, You're old pal. Mike grow
he's the mortgage guy from the mortgage firm. He's right there.

Speaker 4 (57:22):
He is. Hello.

Speaker 2 (57:23):
And if you don't believe me, you can join on
Facebook or YouTube Florida Talk real Estate. On both you'll
you'll see Mike grow.

Speaker 4 (57:28):
Oh. If so, they're thinking your throat, you're doing my voice.
I'm like, Jeff nice, could you do my voice if
you had to? I'm not great with me neither. How
about any of us? Who's the best with the voice? Guy?
I like him. Jim's impression of Mike, I'd like to
hear Jim's impression. Was that good?

Speaker 2 (57:56):
Yeah, he's trying to do ross and that's what bright
Juno Beach. I think he failed pretty MUTI actually.

Speaker 4 (58:04):
I don't know. You know, as a person, you don't
know what you sound like.

Speaker 2 (58:07):
Yeah, because what you hear is a little different than Yeah.

Speaker 4 (58:09):
Because when you hear on paper or whatever, you're like, oh,
we that I sound like. We've all been taping ourselves
for like ten years now, twelve years, thirteen years. So
do you ever live a lot of this show? That's
the question.

Speaker 2 (58:21):
Yeah. So I've listened to this radio station so much
that I've heard my own voice so many times. It's
still kind of creeps me out a little bit. I'm like,
that's good, isn't.

Speaker 5 (58:29):
I would like to either? Yeah, I guess so sick
of it?

Speaker 2 (58:32):
Yeah, Jimmy D's right there. It's our fearless leader. He
wrote a top producing Keller Williams Team, the Florida Home
Pros Team, Keller Williams Innovations. Not a fan of your.

Speaker 5 (58:39):
Voice, not a fan of my voice. But I am
a fan of giving out information of people and it
makes me feel good. So that's why I do it.

Speaker 2 (58:46):
Yeah, it's easiest to use your voice. Yeah, Yeah, we
can do it silently.

Speaker 5 (58:50):
I'm just gonna say sign language. So I want, first
of all, just wanted to say thank you Nate for
doing a donation for the Nights of Pythagoras Entering Network
KOPMN dot org. It's on our Facebook page Florida Talk
Realestate LLC. Please go there and donate. It is a
fiveh one three C. We're trying to raise fifteen hundred

(59:12):
dollars to get a super duper computer that will last many,
many years for these kids who have been putting out
a podcast a locally about local events and local leaders
for years now, and we want to support them. Their
computers so old it's like not working right anymore, so
please help us by doing a donation to KOPMN dot org.

(59:35):
Just go to our Facebook page or right there. Also
wanted to say thank you everybody that's doing Google reviews
right now. I'm not going to get into it right now,
but we just picked up three reviews from people. We'll
get into that a little bit later. Just go to
Florida Talk Real Estate on Google and write a review
about us. Tell us. Tell people why you like being

(59:57):
listening to the show every Saturday or listening to the reruns,
and if we've helped you help you buy a house,
sell a house, invest in a house, refi a house,
get a mortgage, get an insurance policy, get title work done,
get legal work done. Anything that we don't enjoyed the show. Yeah,
or if you just like the show and you find
it entertaining, please give us a review. We would love

(01:00:20):
for you to do infotainment. That's how we try to
do it. I call it yep. And uh So we
were talking about interest rates just a little bit ago
before the segment break, and we're at six point three percent,
which for Freddie mack thir to your mortgages, which is
where we were two weeks ago. These are the lowest

(01:00:43):
rates we've seen all year, which is great. But what
how is that affecting the real estate market? And what's
very surprising about that? And I found this out yesterday
was the annual sale going back to two thousand and five,
which was the peak, right of sales of all time

(01:01:06):
peak until today, right, So they went back twenty years, right,
And these are the things I found out that were interesting.
I had no idea. I didn't know how many houses
were sold in two thousand and five, which was an
all time peak ever, okay, and it was seven point
eight million homes were sold in two thousand and five.

Speaker 4 (01:01:29):
Okay, laiser hand, if you bought a home in two
thousand and five.

Speaker 5 (01:01:32):
I did. Two thousand and six was still a pretty
strong year. We're at six point five to two.

Speaker 4 (01:01:41):
Okay, Actually, technically I was two thousand and six. There
was new construction. We closed in two thousand.

Speaker 5 (01:01:47):
Two thousand and six.

Speaker 4 (01:01:49):
It was built in five.

Speaker 5 (01:01:50):
So seven million is the peak and then the worst
of it. And this is the thing that's very surprising
to me. Actually lower than we were in two thousand
and eight through twenty and twelve when we started the show.
And I was like totally dumbfounded by that.

Speaker 7 (01:02:10):
So lower to now in less sales sale, less home
sales this year, for the last couple of years, for years, okay,
we've been having lower sales than the worst of the.

Speaker 5 (01:02:24):
Real estate market. People aren't and people go, oh, the
that's crazy, you know, so let me get let me
go over this. Two thousand and eight. We went from
seven million in two thousand and five, in two thousand
and eight four point one two. Then we jumped up
just a little bit in two thousand and nine to
four point three four. That's because some investors got back
in the market. We're buying too early. They should have

(01:02:47):
waited a little longer. Twenty ten four point one eight, okay,
and then twenty eleven four point two six, And then
we started going up in twenty and twelve when we
started the show that it was like the beginning. That
was just the beginning when we started moving up again,
and then we got up to By twenty eighteen, we

(01:03:08):
got up to five point five million. The highest other
than that seven million in two thousand and five was
six point one two million units in twenty twenty one COVID.
That was the COVID boom. So we had the boom,
the regular boom that created the financial crisis seven million
units sold, and then the COVID boom six million units sold,

(01:03:29):
a whole million units less than the two thousand and
five So seventeen years later we're still not hitting that
seven million. That just shows you how frothy things were
in two thousand and five with those dirty mortgages. But
here's the more interesting twenty twenty four, in twenty twenty five,

(01:03:50):
right now, I'm sorry, twenty twenty three and twenty twenty four,
twenty twenty three four point zho nine million twenty twenty
four four point oh six million. The low during the
crisis back in five was four point one two So
we're three hundred to four hundred thousand homes less sold

(01:04:12):
than the worst of the real estate market after the crash.
How surprising is that.

Speaker 4 (01:04:18):
I'm surprised by that? But maybe it's just a normal
number like that four million.

Speaker 5 (01:04:23):
No, normal is about five million. Might just like, like
you've seen that point.

Speaker 4 (01:04:27):
In those in the in that span, five million has
been more.

Speaker 5 (01:04:30):
Yeah, let me just read for the years, okay, start
in twenty thirteen. Five point oh nine, four point nine four,
five point two five, five point four five, five point
five one, five point three four okay, five is normal?

Speaker 2 (01:04:43):
Ye, okay, So I would be totally I would be
on board being really kind of surprised, But too many
people have been completely destroyed by those COVID interest rates.

Speaker 5 (01:04:55):
Yes, completely destroyed, Yes.

Speaker 2 (01:04:57):
Like it was the reaction to a six percent interes
straight shouldn't be what the reaction to a six percent
interest rate is. And it's all uniquely because of a
couple of years span, And that's that's the only reason
I'm kind of surprised by it. I think if you
eliminate that poisoning of minds. I don't. I think we're
probably above the five.

Speaker 4 (01:05:17):
I think it's a comboge of the right and the prices. Yeah, yeah,
that is especially like we're not insulated here, but we
are South Florida and so housing prices are.

Speaker 2 (01:05:30):
But those are national numbers.

Speaker 4 (01:05:32):
No, but I'm saying down here, it feels like it's
very expensive to buy a home, right, So when you
combine the interest rate with the price of the homes,
and it's like, well, how do I get into a
payment that I can afford? Just you know, everybody's question.
I guess that's an all time question, right. I remember
my first time home I bought, that same question came up,
right income, you know, what's my budget and everything. Yeah,

(01:05:53):
it definitely feels, at least down here, like these prices.
You know, something's got to give something.

Speaker 5 (01:06:00):
The national comments say that we should see a twenty
percent drop in home prices in order to make it
affordable for most markets, we'd have to see a twenty
percent haircut. I think that's probably fifty right now. So
if we're at six fifty right now, roughly, Okay, I'm
just making round numbers. We're probably at six twenty five,

(01:06:20):
but it's six fifty. You'd knock off one hundred and
thirty thousand off of six fifty. So that's what five twenty.
So six fifty homes have to if they were priced
of five twenty, that would be the affordability number. What
were you saying.

Speaker 4 (01:06:35):
I thought they were predicting like they would come down
twenty percent, not just no, have like they're just saying
affordabilities twenty.

Speaker 5 (01:06:42):
In fact, we're going to get into that in a second.
But the exact opposite is what they're expecting. They're not
expecting prices to drop. I'm just saying that they would
have to drop twenty percent to be quote affordable according
to economists.

Speaker 4 (01:06:55):
I'd be I'd be curious if you did the other
side of that. And so instead of uh, thinking about
prices coming down twenty percent to make it affordable, what
about how much would income have to increase to make
it affordable? So I think we should just focus on
making more money and not so much about the cost
of your.

Speaker 5 (01:07:12):
Making it, like the way you think, just make more money? Right?

Speaker 4 (01:07:15):
Can we just boost it? Like is it twenty percent equivalent?
You know, boost an income sufficient to make it affordable.

Speaker 2 (01:07:22):
Well, what what percent is the focus should be the focus?
What percent of your income should be for your mortgage obligation?

Speaker 4 (01:07:29):
Oh, oh geez, you mean like from a qualifying perspective,
from a bludgerent like.

Speaker 2 (01:07:35):
What they say should be.

Speaker 4 (01:07:36):
You hear this, yep, thirty three percent number. You hear
that kind of thrown around of your gross.

Speaker 2 (01:07:42):
So think, think about what thirty three percent of your
gross is in the reality. If you're buying a six
hundred and fifty thousand dollars home at six pointy three percent,
that you have to make a really really substantial income
for that to be thirty percent of your bud your income.

Speaker 4 (01:07:57):
Yeah, And it's like that thirty percent is lower than
the qualifying ratios. Sure, so you can go up to
say something like forty five or fifty of your gross and.

Speaker 2 (01:08:09):
Those and I think that's more reality for well.

Speaker 4 (01:08:12):
And those ratios are set based on risk analysis, and
so they allow that because people aren't defaulting in large
numbers at those ratios, right, So they're they're people essentially
those loans perform. Therefore people are able to do it. Yeah, right,
They just kind of figure out how to make it work.

(01:08:32):
And and so we're good at stretching ourselves. Who are Yeah,
the thirty something sounds you know, idealistic, but it's it's
gonna it's hard to get that number.

Speaker 2 (01:08:41):
It is hard to get Its hard to meet that number. Yeah,
and unless we start making more money.

Speaker 4 (01:08:45):
Or make more money or you you can decide what
life's what like lifestyle that budget affords and as long
as you're willing to accept whatever that is, and that
could be you're taking the house, it's less, you know,
smaller than you want, or an area that you don't
you know, all of those things. So it's kind of like, well,
what does it take to really live within that number?

(01:09:08):
I mean people do it? You said people got like
spoiled I think by those interest rates where a lot
of people got into those low rates and have achieved
that ratio.

Speaker 2 (01:09:18):
Yeah, that's a hard ring to get out of too.

Speaker 4 (01:09:20):
Which that yeah, I don't want to leave that on.
I talked to somebody today who was considering a cash
out refinance, you know whatever. That consolidation got some projects
they want to do around the house, but they got
their first mortgage is sub three percent, right, and it's like, well,
try and do something other than a cash out refinance, right,

(01:09:41):
you know, second loan, you know something just because it's
like you hate to replace that the big majority of
the money you have that you owe with a higher
interest rate, Like you would never do that unless you
were kind of you know, circumstances dictated you might.

Speaker 2 (01:09:55):
You might be able to get a personal loan better
than six pointy three.

Speaker 4 (01:09:58):
Yeah, I mean it's hard because you're going to personal
loan at twelve percent, and so that sounds like hard
when you talk about the big portion of them that
at the low interest rate, you know, financially makes sense.

Speaker 5 (01:10:12):
So just to get back to these stats real quick
about what they're predicting to happen the end by the
end of this year, and what's going to happen in
twenty twenty six. So this group of economists, uh so,
last year, we only sold four point six million units
you know, homes in the United States. It's one of

(01:10:32):
it's actually it's the worst. It's the worst in twenty
years was twenty twenty four. Okay, Now, what they're predicting
this year is that we're going to have a slight
increase from four point six to four point two four
million units it's negligible. And what do you think they're
predicting next year? Because you know, I talked to a

(01:10:52):
lot of people that already looking forward to next year,
potential sellers, potential buyers that have their opinions of what's
going to happen in the future, in the next few months.
So what do you guys think is going to happen?
Like as far as these economists predicting, are we going
to have higher sales lower sales? If we know that

(01:11:15):
five millions the average, seven is the high, four is
the low, where do you think that they're going to
be for next year?

Speaker 4 (01:11:21):
Yeah, I think I'm optimistic. I'd say I would say
rates come down a little bit and sales go up
a little bit compared to this year.

Speaker 2 (01:11:32):
Yeah, I would say it stays below five million, but
a little bit closer to five million than four million.

Speaker 4 (01:11:37):
Yeah, yeah, same thing. Rates will come down, but I
don't think we're just going to go to seven million.
Rates are going to be three point seven percent.

Speaker 5 (01:11:47):
So they're they're predicting a modest increase compared to this year.
So they're thinking that we're gonna end this year at
four point twenty four and next year we're going to
go up to four point five to four for total
million for total sales, right, which is still ten percent
below the average over the last twenty years. It's ten
percent below.

Speaker 4 (01:12:06):
Okay, so they're not increasing activity.

Speaker 5 (01:12:08):
Slight increase, which gets us into.

Speaker 2 (01:12:11):
What we've seen. So correct me if I'm wrong. Like,
clearly these are tied together. I know you've talked in
the past about people that are staying in their homes longer, right,
And there's reasons for that. You're seeing, Uh, you're seeing
like generations come together, multi you know, multi family type
situations where maybe mom's bringing the kids back in or
vice versa. That's ticking up a little bit over the

(01:12:31):
last few years. People with the lower interest rates motivated
to stay in their home. So as people stay in
their homes longer, inherently our sales numbers are going to
kind of level off or stay lower, aren't they.

Speaker 5 (01:12:43):
The only the only problem with that is is there's
a lot of people that historically, based on age and
circumstances demographically that they should have bought already. So there's
a lot of pent up demand. So there's a lot
of people that are holding like right, there are a
lot of people that are holding because they're tied to
the interest rates, or they just don't want to move,

(01:13:06):
or their lifestyles changing, their reconfiguring their houses. Let's say
to have a multi generational but just as just as
many of people of those, there's a lot of people,
maybe not just as many, but there's a lot of
people that should have bought already that haven't. So I
feel like they kind of offset each other somewhat.

Speaker 4 (01:13:25):
I agree with that, Jim. I think that there is
uh I heard a term that I caught my attention.
It was funny. It was a stay at home, stay
at home son, or the stay at home right, got
to stay at home son, right. So I think there's
a lot of stay at home children, you know, young
adults that are you know, ready to enter the housing

(01:13:46):
market at some point, right maybe they're in their mid
twenties and they're still at home or they're in there,
you know, finished college, came back and like they're getting
their career started. So I think that that still exists, Johnny,
and that could drive who's buying, Yeah, well who's but
to your points selling, there's always going to be that dynamic.

Speaker 5 (01:14:03):
I do see one little I do see one little
potential bright spot in all of this, right as far
as more activity, you know what might get them. And
I've been waiting for Mike to come so i could
ask him this question. FAHA is talking about changing their
rules to allow condos to have low down payments, low

(01:14:25):
down payment loans like the three and a half that
they're going to open up FAHA to more condos. Have
you seen that they're actually talking about that in the
minutes of the meeting. So with the board for there's.

Speaker 4 (01:14:36):
No rule against that right now, so you can do
FHA financing on the.

Speaker 5 (01:14:40):
Content, but they're relaxing some of the restrictions.

Speaker 4 (01:14:43):
They might try to come more in line with what
Fanny and Freddy do as far as condos, which is
there's basically a kind of they have guidelines. So so
when you buying a condo, we've talked about this before,
not only do you have to be approved, is the
bar where there's some sort of underwriting analysis when you're
buying a condo, there's an underwriting analysis on the condo

(01:15:05):
community itself. So they're talking about you know, general financially health,
financial health of the condo, and then the structural integrity
you know, ensure insurance requirements, things like that. So FAHA
has always been the strictest as far as getting a
condo approved so that you can do FHA financing. So
they have always had a process. It's a major undertaking

(01:15:28):
to get a condo approved, and their guidelines are more
strict than they are on conventional financing. So if anything,
they're going to be relaxing. Their guidelines are just coming
more in line with what the other guys are finding financiable. Right,
So Fanny and Freddie who are doing you know, ninety

(01:15:48):
percent of the condos, if you're doing financing, why is
FHA more restrictive? Of course, they got burned in the past,
right like when we had the condo crist this or
the you know, the housing crisis. FAHA really got burned,
meaning they had to pay out a bunch of insurance
right because people defaulted. That's what FAHA is a mortgage

(01:16:10):
insurance operation. Essentially, they had to pay out a lot
of claims right because of condos, and they tightened up
on condos, especially down here in Florida. So yeah, I
could see them relaxing that a little bit and coming
so you know, they're basically deciding they want a bigger
chunk of the condo pie.

Speaker 5 (01:16:27):
And this could be a huge benefit to first time
home buyers, right to a huge benefit because now if
they could do three and a half percent financing on
condos and that there's more of them available, you can
do that now, But the condos have to meet a
certain criteria, and most of the condos are not meeting

(01:16:47):
that criteria, right, would you say, like ninety five percent
of the condos out there probably don't meet it.

Speaker 4 (01:16:52):
It's not that they don't meant it, it's just the
process of getting it approved for FAHA financing is much
more arduous than it is for conventional And so you
can do a conventional lowdown payment, like you could buy
a condo with conventional financing as low as three percent down. Right,
you can do three percent, you can do five percent.
You do not have to come in with twenty or
twenty five percent depending on.

Speaker 5 (01:17:13):
But realistically, in real life, Mike, how many times have
you and I work with a customer.

Speaker 4 (01:17:18):
Where it's like you can't do lowdown payment?

Speaker 5 (01:17:20):
Right? I mean most of them are like no, no, no, no, Now,
well then you've got to be looking, Okay, we'll go
to the next community. We'll go to the next community.
But if that opens up, what I'm trying to say
is if that opens up and it relaxes more, there
are so many first time home buyers that now can
really afford to buy something where they couldn't before. If

(01:17:41):
you're on a budget, let's say two hundred thousand or less. Yes, right,
those people are going to be able to have huge opportunities.
And here's the other thing is that the sellers are
going to have a good benefit because those property values
are going to go up on the condos.

Speaker 4 (01:17:55):
Yeah.

Speaker 5 (01:17:56):
And the other thing that's going to happen, right, because
the demand's going to go up. And the other thing
is it's going to be good is because of all
these laws about the milestones to make sure that your
buildings are kept up to deferred maintenance or taking care
for safety issues, and that the reserves are taken care of,
and the condo people are trained better so that they

(01:18:17):
know what their ethic requirements are and stuff like that. Right, Like,
having all that together just makes it better for the
condo market in the long run. Yeah, and more and
more of these condos are going to be approved by
Fannie Mae Freddie Mack and FHA. It couldn't before.

Speaker 4 (01:18:34):
I will just say this, like, FAHA is not going
to get looser on their guidelines than Fanny and Freddy.
So if you're looking for low down payment, if it
can't go conventional low down payment, it's not going to
go be able to go FAHA low down payment, right.
So it's not like FAHA is going to approve a
bunch of condos that you couldn't do conventional low down payment, right,

(01:18:56):
So they're going to like a lineup. But for the
average person, there is reasons where you might do an
FAHA loan versus conventional even if you're low down payment.
It's not always just based on the down payment. Sometimes credits,
sometimes of PTI like all of that. So the point
is it's going to people who should be doing an
FAHA loan for whatever reasons now, and they're at a

(01:19:16):
price point where condos are in play now. As FAHA
loosens up a little bit, hopefully they'll have a lot
more options on the table. Right now, you would basically say,
if you have to do FAHA, you're going to eliminate condos,
Like for the most part, you're eliminating condos from your Yes,
you're pretty sure towns villas manufacturing homes. I'm talking on
the lower price points. Well, if condos opened up, there's

(01:19:37):
a lot of inventory of condos that it would be
become available to. And it's you say, first time home buyers,
but essentially it's just you know, low down payment home
buyers primary.

Speaker 5 (01:19:47):
And any condo board people listening right now are people
that are really active in their condo communities or anything.
If you guys write, if you guys are not approved, yes,
if you guys are not approved, guys are making such
a big mistake and you're hurting so many homeowners in
your community. Mister, mister and missus condo board people, because

(01:20:08):
by having those availability it opens up to a bigger
pool of buyers, which means you have more demand. And
because it's so hard to find condos that approved for
these for these types of loans, you being one of
those makes your place more valuable. So it really it
really hurts as a realtor watching what happens with this stuff.

(01:20:31):
I'm just like amazed, is like, this is such an
easy thing to fix.

Speaker 4 (01:20:36):
It opens up one thing and we don't talk a
lot a lot about but it would open up reverse
mortgages too much wider. Oh yeah, that's which would be
reverse mortgage traditionally as an f h A product. And
so like reverse and condos don't play nice together right now.
And that's like hard because there's a there's definitely a

(01:20:56):
lot of the older population who have these condos where
they don't have mortgages. They got a big equity position
they're not ready to sell, like that's their place, that's
where they're gonna stay, right, and the reverse mortgage is
a great instrument for kind of tapping into that equity
without having a payment obligation. Now I do have, Jim,
I don't know if we talked about this. I do

(01:21:17):
have a non FAHA reverse product available, so if you're
in that position, we can look at it. Right, So
even if it's a condo, traditionally, FAHA is going to
I mean, the reverse is gonna be ruled out because
it's an FAHA product. I do have a conventional product,
I'll say conventional, but a non FHA product that's available.

Speaker 2 (01:21:38):
So I feel like there's an interesting hurdle because I'm
going to associate it to my own experience when we
were buying and listening to the show for thirteen years.
So some realtors view like a VA or an FAHA
versus a conventional loan offer as less than right because
there's not as much skin in the game. They maybe

(01:21:59):
don't have the money. Like it's again, it's not across
the board, but I know it still exists where it's
viewed as a less than offer versus a twenty percent
down conventional offer. Do you think that poisoning, that thinking
can be overcome if these condo boards are thinking, well,
if we open it up to three and a half percent,

(01:22:20):
we're welcoming in the riff raft, right, And I'm using
that so much true and equatedly thinking we're opening up
to the riff raft the people that you know, we
don't want in our community. And that's a tough thinking
to overcome. That doesn't mean these aren't wonderful members in neighbors.
These are just people that are going to take advantage
of lower money down to get into the community. But

(01:22:41):
don't you think that's a big hurdle for these board members.

Speaker 5 (01:22:44):
Yes, and what I meant that's true, I don't mean
it's true about the opinion. It's true that they have
the opinion. Yeah, okay, and I think it's think yeah.
And the reason why, the reason why that is is
because of the last real estate crisis we had, there
were a lot of foreclosures and a lot of people
weren't putting skin into the game and they were getting

(01:23:05):
these dirty mortgages. But it's not the same anymore. We're
not seeing dirty mortgages. I mean, I always joke you
got to give a DNA test in order to get alone.
In today's market, it's very hard to get. Although I
am seeing on commercials now non qualifying mortgages out there
a little bit more. It's like, oh my god, it's

(01:23:25):
starting to come back. Yeah, it's like, uh oh, but
I haven't seen it enough yet. Right, But if we
get into a really bad economic downturn, people are going
to be looking at those to do refises, stuff, to
grab their equity out of their homes and stuff. Because
I think that's the next thing is the one thing

(01:23:47):
that's different about this market that was different about the
last market where we had a crash. Last market, everybody
was highly leveraged and using their equity from their homes
and properties to do more stuff. Oh, everybody's been holding tight.
You're not really seeing that many cash out refis compared
to year's past, right, Mike, are you seeing more?

Speaker 4 (01:24:07):
I would say it's starting to pick up just because
I think need people have the equity. Maybe they're just
you know, debt consolidation. Usually that consolidation means, hey, we
have this other debt that we've kind of like accumulated.
We need to figure out how to get a lower
monthly payment. Right, so yeah, you see you start to
have conversations like that, and especially it could be related

(01:24:28):
to like the news cycles, right like, hey, rates are
coming down. It's someone who's been thinking about refinancing maybe
is like, okay, is now a good time? Have we
had the kind of movement and rates that we need?
And so you know, I'm having those discussions. Jim. I
think people definitely are spending on credit, like you know,
it's it's yeah, so you're seeing that, and the good
good news is equity positions are there, and uh, if

(01:24:50):
you had to bite the bullet and take a higher
rate than your current one, maybe it's not so painful
to do that. Not not economically wise, but maybe for
you or monthly budget or whatever, it's going to make
the most sense.

Speaker 5 (01:25:02):
Let me just talk about these two other articles that
are related to all this. One of them is. One
of them is the FED. The FED meeting where they
dropped the rate a quarter point. They're going to be
cut meeting, I think next week their meeting again, and
then they have one more meeting for the end of
the year. And what was really surprising about the notes

(01:25:23):
of the meeting when they decided to cut the rates,
it was the unanimous opinion to cut the rate a
quarter point, but one of them voted against it because
he wanted a half point butt right, So unanimous. So
in my opinion, it is unanimous because everybody agreed, everybody
wanted to cut. Just how much were you going to cut?
It was only one guy against the other of twelve

(01:25:46):
or whatever it was. Yeah, he just wanted more because
he's yeah, he's the newly appointed one. Right. So so
here here's here's what I thought was really interesting in this.
They they were they weren't talking so much about unemployment,
although they're worried about unemployment because it is scooting up

(01:26:06):
just a little bit, it's inching up, yep. And after
the government shut down, it looks like that's going to
continue because they just laid off what four thousand people yesterday,
So we'll see what happens with that. But so this
is the thing. Several participants noted weakness in the housing market,
and a couple of participants participants mentioned the possibility of

(01:26:30):
a more substantial deterioration in the housing market as a
downside risk to the economic activity. So that's like FED
term for hey, I think we got a problem coming.
You know that they're at least they got an eye
that it could become a problem. Right, So what they're
saying based on this is so they're a little worried.

(01:26:53):
They're a little worried that if they keep continuing. Some
of the people worried that they keep continuing to cut
the rates. Right now, we're at four percent to four
point two five percent for the FED. We got as
high as like, uh, well, last year, I think we
was a high as five point five or something at
that point. Right now we're at four to four point
twenty five. The guy that wanted to drop the rate

(01:27:16):
a half a point, he'd like to get us to
two percent for the FED rate as close as quickly
as possible. But there's some other FED members are very
worried about that because they're afraid that if they do
go down to the two percent and we have an
economic jolt in the negative way, we won't have any
room to fix it. What people forget is is when

(01:27:39):
we had the crash in O five with the real
estate market crash, we were at six point two five
percent or something. We were over six percent on the
Fed reserve rate. So when we had this massive thing
and we went down to zero, we had all that
room from six percent down to zero to try to
offset the problems we had with the economy. But if
we're at two percent and we have a joelt, there

(01:28:00):
isn't as much room to play with At that point.
We're kind of vulnerable, is what some people are worried about.
So that that's what the Feds are saying. And then
Fanny May came out with the report, and Fanny May
said this, So Fanny May came out with a whole
bunch of different stuff. So let me uh, okay, So

(01:28:21):
right now, what they're predicting is is that the interest
rates where do you think they're predicting the interest rates
are going to end this year? So in the next
ten weeks, where do they think, Fanny may think is
where the interest rates are going to be? Where at
six point three right now?

Speaker 4 (01:28:40):
Six flat six? Yeah? I was going to say, stay
more or less where they're at.

Speaker 5 (01:28:47):
Yeah, they're thinking that it's going to be six point four.
Where at six point three right now? They think we're
going to end the year at six point four? And
where do you think they're gonna Where do they think
we're going to be at the end of next year?

Speaker 2 (01:29:02):
Why? Why would have vot I'll stay six point four?

Speaker 4 (01:29:07):
But they also they predicted prices, I mean total sales
to go up. They must be predicting some sort of
downward movement or rates.

Speaker 5 (01:29:15):
Only five point nine, okay, which basically between five point
nine and six point three where we are right now.
That doesn't really affect most People's that most people, that
isn't going to be a make or break decision about
whether they could buy a house, whether it's six three
or five nine? Am I wrong about that? Mike? No,

(01:29:37):
You're right about that, right. There's so it isn't. It's
going to make an impact on your mortgage payment, but
not enough where it's going to really affect whether you
could buy or notf For most unless you're right at
the upper limits. Now here's the other thing.

Speaker 4 (01:29:51):
They think that, uh, that must be something that's telling
you something. And what about what they predict the Fed's
going to do too, Because even though we know the
FED rate isn't tied to mortgage rates direct, there's there
is a general trend. They kind of followed the same trend.
So if they're predicting more or less the rates are
going to stay the same, I'll call it right within
a quarter point or so, or with I guess within

(01:30:11):
a half point. So they must think that that is
not going to do too much. Right six.

Speaker 5 (01:30:16):
They also severely red down, revised downward the GDP growth.
They thought that we were going to be.

Speaker 4 (01:30:25):
Too Fanny is predicting GDP.

Speaker 5 (01:30:28):
Yeah, Fanny's predicting GBTP, believe it or not. I was
very surprised they had everything. They had housing sales GDP,
this is the interest rates, yeah, this is the CPI,
the consumer Price index. They predicted all of this stuff.

Speaker 2 (01:30:40):
Yeah, they're going to be the polymarket game here before.

Speaker 5 (01:30:43):
Yeah, exactly. One of my friends is doing that right now.
He was joking. So they're thinking that by the end
of this year, we're only going to be at a
one point five percent GDP for fourth quarter growth, just
fourth quarter, not the whole year, but year over year
fourth quarter, and they think now next year we're only
going to be a two point one which is lower

(01:31:03):
than we've had for the last couple of years because
our GDP has been in the high twos for a
couple of years now. So there are I think it
is going to be a weakening market, is what Anni
Ma is predicting, that we're going to be in a
weaker market, not a stronger market. And it's funny because
when I talk to people on the street, there's still
so many people that think that the market is good

(01:31:26):
now and it's going to get super stronger, But there's
just nothing there. What were you saying, Mike.

Speaker 4 (01:31:32):
Just about GDP to me, like GDP as it relates
to global GDP, Like are we still is everybody slowing down?
Or is it the US that's slowing down and other
people's are picking up? Right? So if it's all relatively
slowing down, then it's kind of a nothing burger.

Speaker 5 (01:31:52):
Right right? That would make sense for the.

Speaker 4 (01:31:54):
US's GDP is decreasing, you know, below predictions or below
trans and everyone else is kind of picking up, and
it's like, okay, now what's worth Now what's going on?

Speaker 5 (01:32:05):
So what they're expecting is more of a malaise, a
continuing of the malays. We're not picking up, we're not
getting back to normal. We're still going to be ten Yeah,
maybe it's the new normal, but we're ten percent over
the last fifteen year normal for sales.

Speaker 4 (01:32:23):
I think Johnny's point earlier is still critical, which is
what's inventory looked like? And you know who's selling? Do
we have too much inventory? Not enough inventory?

Speaker 5 (01:32:33):
Well, well that's the other thing, like the builders, Right,
how many years have we heard that the builders haven't
built enough homes? Right? And when we were going through
COVID and stuff, it was very clear we didn't have
enough homes because there was so much demand. We didn't
have enough homes to sell. Money was cheap money, and
money was cheap. But what I don't see is we've

(01:32:56):
had such low sales now for three years in a row, right,
and maybe four if we count next year. So if
we had all those lower sales, then we shouldn't have
a we shouldn't have a spate of new construction that
needs to be built that isn't built because people aren't
even buying the homes that are.

Speaker 4 (01:33:15):
Here at a high level key is affordable.

Speaker 5 (01:33:19):
Yeah, that's and that was making me think, you know,
you know who's going to be Like, I'm hoping that
we find a new innovator that can take that three
D printing because I heard that. I never went there,
and I should have done it. They were doing a
three D printing house in North Palm Beach and I
forgot to go over there to check it out. But
can you imagine if they found affordable ways to build

(01:33:42):
homes to make it way more affordable so that people,
you know, to make affordable homes. And the three D
printing seems to me like a very natural, smooth way
to get into that market and make the homes more
affordable over time. I'm not saying we're there right now,
but I think we might be there right now. We
just got to get some innovators who really embrace it.

Speaker 2 (01:34:03):
Totally wipes out an industry though, all that craftsmanship, the
actual woodworking that's involved, the actual hands, the talent required
to build a home that.

Speaker 5 (01:34:13):
People will pay for that, but people will pay for
that the luxury people will pay for that, that's true, right, true?
And then the people that just want an affordable home
that's reliable and safe, right I really.

Speaker 4 (01:34:26):
How much how long it has to go before it's
you know even even costs to traditional construction. Right where
we're talking about putting blocks.

Speaker 5 (01:34:37):
They say they can build them in like ten days.
It takes them ten days to build these like twelve
hundred and fifteen hundred square foot home.

Speaker 2 (01:34:44):
That's amazing.

Speaker 5 (01:34:45):
Yeah, and that includes will have to be foundation, That
includes doing the footers, the foundation, putting the putting the
walls up right, and then putting all the electrical and
plumbing in, the drywall and everything. It's everything ten days now.

Speaker 4 (01:34:58):
Yeah, It's that's crazy.

Speaker 5 (01:35:01):
I've seen YouTube videos where they've done it. I'm not
saying it happens all the time, but I've seen it.

Speaker 4 (01:35:06):
I've seen TV shows where they've you know, build somebody's
dream house.

Speaker 5 (01:35:10):
Like Extreme Makeover.

Speaker 4 (01:35:12):
Yeah, Extreme makes Over, you really want to live in
that house. But like all those trade things, the plumbing,
the electrical, the roof, like all of that still takes
whatever time it takes, right, just because you put your
your your walls up in a efficient.

Speaker 5 (01:35:29):
Ma predprint the walls where you can put the electrical
wiring in. You don't have to start drilling all over
the place and all that you're farming, you're plumbing is there. Yeah, yeah,
you did it. It was sixty days, right, even it was
sixty days. So I really feel like that that could
be that could be one of the innovative ways that
we can get affordable housing again. And I forgot to

(01:35:50):
mention something about I'm sorry, I'm bounce bouncing all over here,
but I wanted to bring something up for Ross because
when we were talking about the good news for insurance,
one of the things I wanted to mend that I
forgot to mention is that if you own a multi
family home or non homesteaded home, people are still even
seeing five to ten percent discounts on those type of properties.

(01:36:11):
So if you have like a rental property or investment property, hey,
let's go get a quote for you and shop you're rate.
You still get savings, may not as much as homestead
of properties. Is that Drew Ross what I read? Or
or have you not really encountered that well?

Speaker 4 (01:36:26):
I mean, so when I hear non homesteaded or non
primary residences, I think of citizens only because they just
had their you know, in the last couple of years,
they've had a surcharge for non primary residences for someone.
So if you own the home and you rent it

(01:36:47):
to somebody else and that's their primary residence, then it
still qualifies as a primary residence. But it's more if
it's a secondary home or a short term rental and
citizens there short term rentals thirty days. So when you
when I when you say that, I and it costing something,
that's kind of where it goes for me. It's citizens. Yeah,

(01:37:10):
but there might be rate decreases just in general across
the board. And so yeah, always your investment. You know, uh,
what would you call like a DP three or a
landlord policy might have gone down just because rates are
going down. Yeah, And I mean, and if it's a duplex,
it is you get to write it as a as
your primary residence on a regular owner occupied family if

(01:37:32):
you live in the ones, you live in the one. Yeah,
what about rates on three D printed homes. I haven't
seen those come out yet, you know, they're not in
the guideline. Have you ensured one? No?

Speaker 2 (01:37:42):
No?

Speaker 4 (01:37:42):
No, So I was just thinking, like I don't I
don't think the insurance companies are ready for that yet. Well,
that's uh. I wonder why that would be.

Speaker 2 (01:37:50):
It's probably just not prevalent. It's probably just not really
as too new thing yet.

Speaker 4 (01:37:54):
Yeah, to have a risk assessment, right, I mean, but
they're meeting building codes and assuming.

Speaker 5 (01:37:59):
Yeah, I assume they have to meet the building Yeah.

Speaker 4 (01:38:01):
May probably got there. I mean, a three D print
at home hasn't come across my desk as trying to quote.
So I would do a contest the first one we wanted.
I would imagine it.

Speaker 5 (01:38:12):
If you have a three D printed house in the
local area and you're listening to this, I'd love to
talk to you to stop buy and take a look
at the house, right, I would. I would to find
out more about it in the whole process. I think it.
Maybe we can have them come over here and talk
about what it's like to have a three D printed house.
That would be kind of cool.

Speaker 2 (01:38:29):
I would be.

Speaker 5 (01:38:30):
Hey, I wanted to. I wanted to talk about something
that I thought was kind of interesting. Remember I mentioned
about the foreclosure filings. October first, the COVID forbearance programs
for mortgages ended, and there might be a rash or
a flood of foreclosure filings against a lot of people,

(01:38:52):
maybe as much as a million FHA owners that are
behind on their payments. Right now, I thought that there
was something that was very interesting. Their Urban Institute took us.
They took the statistics from the National Bureau of Labor
Statistics and then they analyzed the nl whatever BS National

(01:39:15):
Labor National Bureau of NBLS to find out like what
they found out about people that were in four bearans
and how it affected the housing market, and how it
affected the families themselves that were in the forebearans and
everything else. And I thought it was kind of interesting,
so I thought that we would bring it up. So
a couple of things in here. There were eight million

(01:39:38):
people who took advantage of the COVID fourbearance in the country.
Eight million people did, right. I thought that was interesting
to get an actual numbers, big number, so eight million people. Now,
out of that they did they found out that ninety
four percent of the people that went into four bearans
did it because of job insecurity, right, that makes sense, right,

(01:40:02):
but ninety four percent. And what they also found out
out of the eight million, there may only be like
a million in trouble still. But the other seven million
were able to turn things around and get back on
track again and get out of the fourbearans.

Speaker 2 (01:40:18):
It's great.

Speaker 5 (01:40:19):
So that means one out of eight people that went
into the program successfully, one out of eight, no, seven
out of eight people that went into the program successfully
were able to get out of it and get back
on track. And what this Institute report was saying that
was a huge, huge positive impact on our whole housing

(01:40:40):
market because we didn't have that rash of eight million
foreclosures you know, being filed because the people weren't making
their payments.

Speaker 2 (01:40:49):
Yeah. So just remember some stats from earlier, there were
what four million homes old in a year, there would
have been eight million homes going into.

Speaker 5 (01:40:58):
Four years of inventory, right, two years of victory boom right,
so to the system. So what what the Urban Institute
is saying they want the government sponsored enterprises like Fannie Mae,
Freddie mac f h a, UH, Department of Veterans Affairs
which does VA to revise their rules to make it

(01:41:25):
more clear of how these programs can help people and
to realize that some people are going to fall through
the tracks. You've had a million people that didn't make
it right, a million people took the thing. They got
a roof over their head for a while, but they
still never able to turn everything around. So you did
lose one out of eight people there, right, But.

Speaker 2 (01:41:45):
The effect is going into foreclosure.

Speaker 5 (01:41:48):
Well, all we know is that they're in some type
of foreclosure. So that means that you're going to be
missing payments, already filed foreclosure, have an auction date, or
the house was taken back or ready in a foreclosure,
So that's what they count as the foreclosure market. That's
another thing I learned. It isn't just the physical Hey
you were foreclosed on, it's the whole foreclosure process. When

(01:42:12):
they give you those numbers.

Speaker 2 (01:42:14):
Once it starts, you're included.

Speaker 5 (01:42:15):
And a lot of people do get out of foreclosure. Sure, right,
I mean we know that from the show. We've felt
many many people get out of foreclosure many times.

Speaker 2 (01:42:22):
And if you need that kind of help, remember Florida
tiestate dot com.

Speaker 5 (01:42:25):
Yeah, So I just thought that was kind of interesting.
So even though these quote, because when I was talking
about the COVID for abarance with one of my customers
who hasn't made a payment of five years, and I
was like five years you know, even me. You know,
it's like, wow, that's a long time not to make
a payment and still be able to live in your house.
Yeah right, Well.

Speaker 2 (01:42:43):
Think about that.

Speaker 4 (01:42:43):
What were the extensions based on.

Speaker 5 (01:42:45):
Well, this person had a hurricane forbearance first and then
went into COVID, so they had a double forbearance.

Speaker 2 (01:42:51):
I mean that's like that's one hundred and twenty k
I mean like easy, yeah, yeah, that's you have to
hand that over again out of your forbearance.

Speaker 4 (01:43:01):
That's a not necessarily you got to, you know, depending
on the terms of the forbearance, like the standard COVID one,
they just they put that money on the back of
your loan.

Speaker 2 (01:43:09):
Oh so that's a very different forbearance. Yeah.

Speaker 4 (01:43:11):
Yeah, there's no reason for foreclosure in those situations, which
might be what Jim is talking about, which is like, hey,
this was actually successful. So people got in trouble, Well
you allowed them to miss payments for a series of months.

Speaker 2 (01:43:26):
But if they're all getting added to the back of
the loan, why isn't an eight at eight getting out
of it?

Speaker 4 (01:43:30):
Because some people just can't afford their payment just at all,
their initial payment they could just couldn't have can't afford it.

Speaker 5 (01:43:37):
Usually what I see is with the people that get
really trouble and then they get the help and they
still are in trouble. They were always in trouble. I
hate to say it that way, but they were always
trying to find a new program or a new refie
or whatever in order to try to make ends meet.

Speaker 4 (01:43:55):
All the time their income situation changed sufficiently that they
just can't and.

Speaker 5 (01:44:02):
They never like rebounded it all right, and they just
didn't either have the skill set or the luck or
whatever it takes in order to make it happen.

Speaker 4 (01:44:09):
Of course, those people should be exploring selling, short selling,
you know, yeah I did, probably not even short selling,
but you know, selling retaining their profit reset, some sort
of reset. It's hard to do. It's hard to do.

Speaker 5 (01:44:24):
Ye another just a little quick service announcement for people
that do get in trouble with their mortgages, even if
they haven't had a foreclosure yet or anything. Please please
do not just go to those we buy houses fast
for cash kind of companies. You're bringing a water pistol
to a gunfight. I don't even want to say a

(01:44:45):
knife to a gunfight. It's a water pistol gunfight. You're
going to get creamed unless you really really know what
you're doing.

Speaker 4 (01:44:51):
Some of those water they have high power ones.

Speaker 5 (01:44:56):
Super exactly. So I was at a I was at
that Free Legal event where aj Holman and I were
invited by Natalie Medina to go and take a look
at the Free Legal Aid Society and what they were
trying to do is a state planning, but they had
a lot of other really great legal aid questions there.
We're going to be bringing some of those people onto

(01:45:16):
our show to talk about some of the stuff will
be pretty interesting. But there were like twenty twenty five
people showed up to this, and you could tell that
almost all of them were there for estate planning, and
almost all of them were inheriting houses or they were
trying to transfer over properties for an elderly person over
to some other family member or something. And what I

(01:45:37):
was really surprised about is how many of them were
approached by we buy houses fast for cash companies and
the Legal Aid Society. People were saying, be very careful
with that. You really have to understand what you're signing.
Their contracts usually aren't the same as regular people's contracts
that you normally used in a regular transaction, and they're
usually way more sophisticated than you and.

Speaker 4 (01:46:01):
You really every day people want to buy my house?

Speaker 5 (01:46:04):
Do you still get you get calls like that all
the time every day?

Speaker 4 (01:46:07):
Yeah, because maybe not every day, but I'll get a
call sir, are you interested in selling your home? No?
Do you do you know anybody who's interested in selling
their home?

Speaker 5 (01:46:17):
Yeah? Right, exactly.

Speaker 4 (01:46:19):
Sometimes I talk to this yeah, so so, uh do
you know anybody who needs a loan? Yeah exactly.

Speaker 5 (01:46:26):
Yeah, well you need a loan to buy the home.

Speaker 4 (01:46:28):
Financing you guys, But the problem is you're talking to
some call center person.

Speaker 5 (01:46:32):
Yeah exactly. So so please if you're thinking if you
have like an inherited property or something, or a property
that your family doesn't want anymore and you need to
sell it, and usually people that are doing that are
selling it. That we buy houses fast for cash kind
of companies is because the houses in disrepair, they don't
want to fix it up. They just want to move

(01:46:54):
the property and take as much as they can. Because
of the market to you can do that all day
long and make way more money. Let me give you
a real life example. The house we just sold on
Cheryl Lane, for VIC. When we put the house on
the market for months as an investment property, we might

(01:47:15):
have had twenty twenty five investors come there, couldn't get
anything close to what we were asking for. Then we
raised the price a little bit, not too much. Thanks
to aj Holman, he told us to raise the price
to put it on the open market. We did put
on the MLS eight days later, got full asking price
by two people, more than all the other investors offered, right,

(01:47:38):
and we made more money and the person didn't have
to do anything extra the house and they weren't planning
on doing. The house is not perfect by any means
and need some TLC. And we got way more money
than an investor will do. And you have this pretty
good confidence that you're going to close with the investor.
You really never you're not going to close or not.
You don't know until you're at the closing table and

(01:48:00):
everybody sign and everything. But with a regular sale, if
you have a good real turn, you know what you're
doing and everything, you can be pretty confident that you're
going to close. So please don't be taken advantage of now.
Those companies can sometimes be very valuable and helpful to
people yes, it's definitely a tool. I work with one
of the Wee Bugly Houses guys because they're one of

(01:48:23):
the ones I work with, are very reputable and trustworthy
and do what they say they're going to do. Just
wanted to do one more thing before we wrap up
the show, Johnny, I wanted to say thank you to everybody.
I'm just going here one more time. Thank you everybody
that put out reviews today on Florida Talker Real Estate, LLC.
The Google reviews Susan one of her favorite listeners of

(01:48:47):
all time. She put out an amazing review for us.
Thank you so much. She wrote, amazing group of people
to have on your side. I was looking to buy
a townhouse in twenty twenty one and have a pity
named Hudson because of my dog. A bunch of places
wouldn't allow him in the hlay. They found a single
family home with a big backyard for me. Thank you

(01:49:08):
so much. She's gonna have pictures on there and everything,
so I'm so glad she has Hudson pictures in the
backyard hanging out. Nate who just gave a donation into
the kopmn dot org which is on our Facebook page
to help raise a computer for the charity for that
group of kids. Nate wrote, Gendapola and his team or
first class. That's awesome. Derek Derek Rr who's been on

(01:49:31):
our show. Devk Radjakowski been on our show many many
times in the past, has a really great company that
does luxury builds and luxury builds. Oh, he gave us
a really great review. So thank you so much for
everybody doing that. If anybody's listening and haven't done it yet,
please please go to the Florida Talk Real Estate, Google
Reviews and just put out a review. Tell us what

(01:49:52):
you love about the show or if we helped you,
let people know about that, so everybody knows.

Speaker 2 (01:49:56):
Religit Yeah, and that kind of stuff can go a
long long way. My company does the same thing on
the regular. A lot of people look into that stuff
and take it to heart and it can be very
valuable for the team. If you've ever bought a home,
sold a home, we're stuck with a home, didn't know
what to do, just reach out to the team get
some information. Many have done that over the years. This

(01:50:17):
team offers a ton of free advice with the obligation
they know that the business comes when you take care
of people and it has worked out for thirteen plus
years now. Many have getten a lot of free advice.
And if that's you, then you can take a moment
to leave a Google review. We sure do appreciate that.
Of course. On Facebook and YouTube, hit the share buttons.
You never know you can change laves, including your very

(01:50:38):
own with the Prospros, it's Floridatalkreestate dot com, the one
stop real estate shop. Always remember access to the entire
team one click away at Florida Talkrealestate dot com. Like
I said, Facebook and YouTube, Florida Talk real Estate on
both and of course Saturday is bringing you two hours
of infotainment. Jimmithy, thanks for everything always, my dude.

Speaker 4 (01:50:55):
Thank you, Johnny. Have a great weekend, guys.

Speaker 3 (01:50:56):
Don't get Florida Gator football pregame right here on Real
Radio excellent.

Speaker 2 (01:51:01):
Locker Room's coming up next as well. Hope you guys
are gonna be sticking around. Mike Rown mortgage guy from
the mortgage room. Have a great weekend.

Speaker 4 (01:51:07):
That's right, I'll say everyone at the FAU game today beautiful.
What else family weekend? That's down?

Speaker 2 (01:51:13):
And uh, of course Roscal Marion Natsi's with Bright Winter.
Sure's Juno Beach. I hope you have a great weekend.

Speaker 4 (01:51:17):
Thank you. I hope you do too, hope you break
the record and get twenty two pots.

Speaker 2 (01:51:20):
I'm gonna try. I'm gonna try. I'm gonna sure try.
I actually want to shoot past it, like twenty eight
would be amazing. It's almost unbreakable at that point. Jimmy
D's Jim Depolo right there with the Florida Home Pro Team.
Have a great weekend, my friend.

Speaker 5 (01:51:31):
Hey, you too, have yourself Florida.

Speaker 4 (01:51:33):
Everybody, locker room's next.

Speaker 2 (01:51:34):
We'll see you next Saturday, right here on Real Radio.