Insurance claims. Interest rates. Jobs report. Beach renourishment. Condo crisis

Episode Transcript

Speaker 1 (00:14):
Navigating today's real estate market can be tricky. Wanta buyer
sella house, finance or insure a house, or stuck with
a house.

Speaker 2 (00:21):
And don't know what to do.

Speaker 1 (00:23):
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.

Speaker 2 (00:31):
Here are your.

Speaker 1 (00:32):
Hosts, Jim Depola and Johnny c. You live on real Radio.

Speaker 2 (00:36):
Yeah, good Saturday morning. So you welcome to another edition
of Florida Talk Real Estate. We got you for two
hours of infotainment. See you out there. Thanks for being
with us ninety two one one one seven on the
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(00:56):
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eight seven seven nine two seven six nine six nine.

(01:17):
You got questions, comments, concerns in the world of real estate.
Want to dive into the question at hand, Dial it up.
The first voice you'll hear the melodious tones of our
producer Extraordinard Jimothy, my brother from another mother. How you doing?

Speaker 3 (01:28):
Hello?

Speaker 4 (01:28):
Hello, and a good morning mister. See how you doing today, buddy?

Speaker 2 (01:32):
I am awesome, my dude. Always good to see you
on a Saturday morning as well. You ray sunshine as.

Speaker 3 (01:37):
They say on a rainy day.

Speaker 2 (01:40):
Yeah, it's right. There's always that little little glimpse of
awesome and I call it Jimmathy, A buddy, you put
your pants back on, though you're very distracting. I don't
have any Oh well, it's gonna be one of those
kind of saturdays. Is Hi? Everybody? Your pal Johnny C,
your air traffic control. Let's get your starting lineup on
a Saturday morning. You're very important people. We go straight

(02:00):
to the top. Y'all our fearless leader. The only one
that choose is to show up every Saturday. It's jim Tool.
I've told you he runs a top producer in Calowenian's
team for a decade plus. Now Callownians Innovation to find
the Florida Home Pros team and my guy Jimmy d
jim Depola, how you be?

Speaker 5 (02:18):
Oh my god, I feel like we're the Miami Dolphins
decimated with all our players. Everybody's playing, everybody's heard on
physically quick that When was the last time we had
the three of us on the show and nobody else?
It's been a while, right, Oh my gosh, Well, God
bless everybody. Mike's out of town for family obligations, right,

(02:40):
he'll be back next week. Micro out from the mortgage
firm course, Ross Kamarinets has been out for a week
now with a really bad some type of flu. So
I hope he's gonna get better. He tried to come
in and play hurt and I'm like, you know what,
don't affect the microphones verybody. He has to stay home
and chill out and uh and get better.

Speaker 2 (02:59):
So yeah, get better, right, we need you over there.

Speaker 3 (03:01):
Bright Way Insurance, you know, yeah, save us some money.

Speaker 5 (03:05):
Yeah, especially now, which we're going to talk a little
bit about the whole uh insurance stuff related to the
storms and everything. There was a really good sixty minutes
report Johnny about that. Uh remember remember when was it
when they decided, the state legislators decided that the residents

(03:25):
were going to homeowners were going to have to give
up their rights to sue the insurance company without having
to be obligated to pay the attorney costs for themselves.

Speaker 2 (03:37):
I feel like it was like almost two years ago, right,
a year.

Speaker 5 (03:39):
And a half years. Well, here's what sixty minutes said.
We're not going to go too much into it today,
but it just shows you how frustrating. And I was like, hmm,
who could have predicted this? Right?

Speaker 2 (03:50):
Well? Because uh so the layout was the vast majority
of the money spent for these insurance companies was in litigation,
right like if a landslide, amount of the money spent.
So the theory was that if they if we reverse
course on this a little bit, uh, they're going to
start saving a ton of money in litigation, and then

(04:12):
therefore it'll it'll trickle down, as they say, to us
the consumers, and we'll start saving money on our on
our home owners policies. Do I frame that right?

Speaker 5 (04:22):
Yes, that's exactly what the theory was. Even back then.
I was like, great, now we got to trust the
insurance companies to do the right thing.

Speaker 2 (04:30):
But it felt like as it kind of rolled through,
it felt like it was sort of happening a little bit,
like things kind of peaked. Well.

Speaker 4 (04:38):
I thought the idea was that if you were going
to sue your insurance company, you had to have skin
in the game.

Speaker 5 (04:44):
Yes, you got to actually write. Now, I did have
a lawsuit against the insurance company that was profiled in
sixty minutes. I actually sued that company. Now, this wasn't
related to insurance insurance hurricane claim. We had a leak
in the house that created a lot of mold, and
it happened over a long time, and we had proof

(05:04):
that we brought out contractors to take care of it
right away, but it wasn't fixed correctly, unknown to us,
and the insurance company said, no, we're not going to
deal with it. It took us eighteen months to get
it resolved. They wanted to give us like and the
numbers are rough, rough numbers, but they wanted to give
us like ten thousand dollars, and we needed eighty thousand

(05:26):
dollars to repair the house. Right, So there's a big
gap there, right. And we went through mediation three times.
We went through arbitration, which is different than mediation. There's
two different types. Right, we went through that. Then finally
our attorney, we had hired an attorney because you.

Speaker 2 (05:45):
Know the difference by the way mediations with a mediator arbitrations.

Speaker 5 (05:49):
How about that actually the different type of arbitrator imediator.
I think they have a different type of training. If
I'm not mistaken, it's.

Speaker 2 (05:57):
A totally different process. They just figured I'd grab them.

Speaker 5 (06:04):
So we did hire an attorney to guide us through
this because we couldn't believe the insurance company wouldn't take
care of the claim. Right, And finally they said, we're
going to go ahead and sue. And I was like,
and I was worried about hiring the attorney because I said, look,
how much is this going to cost us if we
hire you? And what Back then, before the regulations were changed,

(06:27):
this is the way it worked. The attorneys would take
the case on contingency that they you would pay nothing
to them as long as that we won the case.
And if we only won one dollar from the insurance company,
even if it was just a one dollar win, the

(06:47):
insurance company was forced to pay my attorney fees. So
in order to stop that from happening, you know, they
felt that that gave a lot of people the reason
to sue for no reason, and people were assuing and
we did have a you know, if Ross was in
here from bright Wing Insurance Juno Beach the only only
bright Wing insurance company, Ross would be saying something like,

(07:10):
what was it seventy We're only like six percent of
all the claims in the country. We were seventy eight
percent of the lawsuits or something. The fraud, Yeah, for
the fraud. So there was a lot of fraud going on.
So this is a very gray area. It's not black
and white. The insurance companies were getting ripped off by
a lot of people. There's no doubt.

Speaker 2 (07:29):
There's a valid approach for sure. Absolutely, this wasn't like
empty and baseliss.

Speaker 5 (07:34):
Well, what happened in this what I read? You know,
what I saw in this sixty minutes report was Now
that you said about two years ago is when they
changed the regulations. Well, then IAN hit. So now two
years later from Ian, there's something like fifty they did
an investigation and something like there's fifty thousand claims where

(07:58):
the insurance adjusters went out surveyed the property, did a
takeoff line by line of what would need to be
repaired based on the insurance policy. The insurance adjuster submits
that to the insurance company, and then magically, the insurance
company was agreeing to pay the claim, but at a

(08:19):
fraction of the price. So one of the examples they
used is the insurance adjuster turned in roughly a two
hundred and forty thousand dollars bill, and then without the
insurancejuster's knowledge, the insurance company people who had never gone
out to the house, never looked at the house, never
examined it. Unlike the insurance adjuster said, ah, we don't

(08:41):
think it's a two hundred and forty thousand dollars claim,
will give you fifteen thousand dollars.

Speaker 4 (08:46):
They readjusted, They readjusted the reclaims on the reports, like
the actual report.

Speaker 3 (08:52):
They were changing the numbers.

Speaker 4 (08:54):
On the reports based on a behind a desk an
adjuster from I remember that watching some of that video.

Speaker 5 (09:02):
Exactly, Jimothy, and automatically no, yeah, yeah, yeah, yeah, it wasn't.

Speaker 3 (09:07):
It wasn't one thousand dollars or two thousand.

Speaker 2 (09:10):
Yeah.

Speaker 4 (09:11):
I mean again, you're talking over two hundred thousand to
a fifteen thousand dollars claim.

Speaker 2 (09:16):
So they didn't have a scalpel, had a hatchet or.

Speaker 5 (09:18):
Over and now there's fifty thousand claims out there that
haven't been paid. Those poor people, and now they're fighting.
Now they're now they're in the fight. And guess what,
Now they got to pay an attorney.

Speaker 2 (09:33):
Now.

Speaker 5 (09:34):
That's the one thing that I was always worried about
with this new regulation where you have to pay your
attorney upfront, because a lot of people can't afford it,
and they're afraid they're going to lose. And if they lose,
then they're gonna have to pay their attorney fees and
maybe even the state the insurance company's attorney fees too.
It's very scary, so a lot of people don't want
to do it. But now the state, the state legislator

(09:58):
has basically said, you're just going to have to trust
the insurance companies to do the right thing. And I'm sorry,
I'm a very skeptical person. We've talked about this about
like public record laws, to keep government honest. We got
to keep people honest, because if you don't keep people
honest with some kind of transparency, right, people take advantage

(10:20):
of the system. I don't care if it's government or
private enterprise. That's with just human nature. I hate to
say it, but that's what happens.

Speaker 2 (10:25):
Transparency and regulations help a lot.

Speaker 5 (10:28):
So anyway, we're going to go into this much detail
on other shows, but I just thought that was really fascinating.
And so Ian two years later, we have all these
people houses destroyed, don't have the money to fix it,
suing them, paying money for attorneys, and God knows what's
going to happen. And now you know, we have this
massive thing that just happened, Helene, And I'm thinking of

(10:50):
all the people that are going to be going through
this to that some of these people probably aren't going
to be paid for five years or something after the claim.

Speaker 2 (10:58):
Sure, and if they get paid at all, it's but
not a totally new anomaly, right, I mean, that's waiting
for your payment in the fight over your adjustment. Like,
that's not a totally new phenomenon, right, I mean, I remember,
I remember you and Paul Krasker going down to the
keys and trying to help people fight their way out

(11:21):
of disaster. Now was years ago.

Speaker 5 (11:24):
They called that insurance churning back then. Okay, so what
insurance churning.

Speaker 2 (11:29):
Was from the losses of Polychris.

Speaker 5 (11:31):
Pol Krasker, who's going to be on the show to
talk about the condo crisis very soon. We're going to
have them on recently, but we're gonna go We're really
going to focus on that condo crisis on the show
because there's gonna be a lot of people in trouble
and that's what we're built for this show. Yes, so
if you have a condo and you're worried about your
condo fees or the way the board's running, or the

(11:52):
assessments that are coming up, this is going to be
a really great resource. We have a whole bunch of
guests lined up that are experts in the field of that,
and I really feel like that's going to be We
don't really have a bubble anywhere in Florida I can
see other than there's only two bubbles happening in Florida
right now, the insurance damaged homes from the hurricanes over

(12:14):
the last couple of years. Because Fort Myers area was
the only area in Florida as of January that had
depreciation going on, like real depreciation going on because of
an influx of properties for sale and not enough buyers
because of all the damage, and the other bubble is
going to be the condo the condo crisis that's happening

(12:35):
right now with the reserves, the engineering reports, the structural
integrity stuff that's going on with that.

Speaker 2 (12:42):
The Fort Myers like reconstruction, there's a lot of like
almost almost like over improved in a way there for
that regional area, right, did.

Speaker 5 (12:53):
They Jim repeat that, Johnny, I'm sorry.

Speaker 2 (12:55):
With the rebuild from the storm in that Fort Myers area,
they almost found them where they were like over improving
the areas and then as soon as they were done,
they were holding the bag on properties that they weren't
going to be able to sell for that dollar.

Speaker 5 (13:07):
Yes, a lot of the people the problem that we
had in the Fort Myers areas, the houses that were
completely destroyed, they used their insurance money to rebuild, and
that normally takes nine months to a year, right, So
the plan was for a lot of those people were, Hey,
I'm just going to build a new construction home and
I'm out, I'm going to go sell it. But there
was such a flood of people that did that. There's

(13:27):
not enough buyers because everybody's afraid of move in there
right now. Because they're afraid, well, another hurricane's going to
end right, which looks like we're going to get another
very sloppy storm coming over them right this week, which
we'll get into just a second. Oh yeah, But getting
back to Paul Krasker and I going down to the keys,
I can't remember. I'm so bad on is it?

Speaker 2 (13:46):
Irma? I want to say, irma.

Speaker 5 (13:48):
So what we did was we heard about this insurance churning,
and what was happening with insurance churning down there is
was your house damaged by hurricane damage wind and then
water coming in because of the wind, or was it
flooding which means that the water is rising from the
ground up and then flooding your house.

Speaker 2 (14:08):
Different claims, right.

Speaker 5 (14:09):
Completely different companies ensuring that. One is called the Flood
Insurance which is a different company that's a national pool
risk backed by like the national government in a way
or else will have a better description of this, but
basically what you have with the Flood Insurance group is
that everybody that buys into it everywhere shares the risk

(14:33):
for that for the for flood flood damage, hurricane damage
is private insurance companies that are out there that are
there for profit companies that are trying to make a
profit off covering your house for insurance. And so that
was happening insurance turning. I'm already reading up in the

(14:53):
Panhandle area where with the damage was. People are already
going through that right now, I bet. And there's a
lot of people that had insurance coverage but didn't have
flood insurance unless they were mandatorily you had to because
their insurance company, i mean their mortgage company forced them
to do it.

Speaker 2 (15:13):
They're in a flood zone or something.

Speaker 5 (15:15):
So if you had insurance coverage a lot of times
with and but you don't have flood insurance, a lot
of times the insurance companies might say, prove to us
that this isn't done from the water surging into your
house and not the wind blowing off the roof for
the windows.

Speaker 2 (15:30):
Yeah, what a mess.

Speaker 5 (15:32):
And to make things even more complicated about that, even
if you have both, and that's what happened in the Keys,
because in the Keys, if you own a house and
have a mortgage, you have to have flood insurance. It's
a requirement for your mortgage. So even when people had
both down there, the two sides were saying that's not
my issue. That's the flood insurance as you the flood
people go, No, that's the hurricane issue, and the homeowner's

(15:54):
caught in the middle. So we're going to see a
lot of pain on that. I really feel like this
is now changing the face of Florida. I've been saying
this for a long time. I've been saying how we're
gentrifying at a very fast level. I've been down here
since seventy four. We're seeing more and more billionaires and
multimillionaires come down here, right, and we're seeing a lot

(16:16):
of the middle class leave because it's just too not affordable.
Now here's the ironic thing. Where are all my customers
that are sewing in Florida? Where are they moving to Georgia,
North Carolina, South Carolina, Tennessee. Where was all the damage
from Helene? Florida, North Carolina, South Carolina, Georgia, Tennessee. Right,

(16:39):
So it's almost like they went from the frying pan
into the fire, or just in the fire all the
whole time, and they never left the fire. Yeah, just
a different part of the fire.

Speaker 2 (16:49):
Right.

Speaker 4 (16:50):
Bringing it back to a little bit of real radio
ties of course, still love doctors Staple on his show,
Doctor Glenn moved up to North Carolina. He posted a
you know, just as the storm was approaching that, you know,
I thought I moved away from Florida to get away
from this this stuff.

Speaker 3 (17:07):
And of course he was right in the area. Here's
near Asheville, so he was in it.

Speaker 2 (17:11):
But he's good.

Speaker 4 (17:12):
I mean, you know, for the people that have been
reaching trying to reach out and see how he is,
he's good. Of Course, they didn't have any internet service
or self service for quite a while, so they weren't
able to post anything.

Speaker 3 (17:23):
But they're doing okay.

Speaker 4 (17:24):
But again, just to go along with your point that
a lot of people were trying to get away from
and that's inland, you know. I mean again, this is
western North Carolina. This is western South Carolina, you know,
and you're not you know, you think about it near
even on the ocean side, well of course, you know,
you can, you know, you don't expect it as much inland.

Speaker 2 (17:43):
Well what really, you know, Unfortunately, when those there's so
much water and the elevation just rings those storms out
and they had so much water leading up to just
the days prior. Just a recipefore a really tragic.

Speaker 5 (18:00):
Yeah, it's it's it's very it's very sad, and I
don't see I don't see how they're gonna be able
to fix this, to be honest, with the insurance thing,
I just don't see how it's fixable because we're trying
to do everything we can. The insurance companies were losing
lots of money that they probably shouldn't have lost from fraud,
There's no doubt about that. So everybody's got a little

(18:22):
piece of this. There's nowhere you could just wag your
finger at one side and say it's all your fault, right,
You can't really do that. The homeowners have a much responsibility.
How many times did we see her during the hurricanes
over the last thirty years where the person loses two
tiles on the roof and the next thing you see
a roofing company coming and replacing the whole roof on
the insurance company's dime. Oh yeah, right, you saw that

(18:45):
all the time.

Speaker 2 (18:45):
Oh you get knocked on your door, Hey, you won't
get a roof, go away, you.

Speaker 5 (18:49):
Scammer, And and then you have experiences like mine where
you have a legitimate claim and the insurance company fights
you tooth and nail. The amount of money they had
to spend. The different between what they wanted to give
me and what I got was about sixty five seventy
thousand dollars. They had lawyers for eighteen months fighting me.
How much did that cost them?

Speaker 2 (19:09):
Oh?

Speaker 5 (19:09):
Right, exactly, But they just didn't care. It just doesn't
make any It just doesn't make any sense. And I
don't see how they're really going to be able to
fix this. A There is a state a US Rep.
A not a state Rep. Down in Broward that is
thinking that they want to do a national pool risk

(19:30):
for homeowners insurance, like for flood insurance, and there's a
couple of politicians running for office right now that are
pushing that pretty hard. I'm going to wait for after
the election before I try to get them on the
air because I don't want to get in the red
blue thing. I just got into that. Yeah, So if
I have any of those kind of people on, it's
not because I'm backing them based on their political preferences.

(19:51):
It's the subject that their bill is about is what
I want to talk about.

Speaker 2 (19:55):
Yeah, And that feels like one of the more bipartisan
situations that you could stumble in, you know, homeowners plase,
I know, right, cost.

Speaker 5 (20:03):
And I'd really like to see that the state insurance
group and this and the Attorney General's office here in
Florida to really be an advocate for the homeowners to
make sure they're not being screwed over by the insurance companies.
We really haven't seen that yet, Not when you have
fifty thousand claims that are two years old and you're

(20:24):
still fighting over them, and the Attorney General or anybody
isn't stepping in and saying, hey, wait a second, this
isn't right. We already gave you all these gimmes for
the insurance companies to protect you. Now you're taking advantage,
potentially taking advantage of these customers. Cut it out right,
nobody's there to watch the wolf in the in the

(20:46):
chicken coop. Yeah right, But anyway, enough about that. We're
going to get into it more. But we're talked about
that for a long time.

Speaker 2 (20:53):
Oh yeah, remember Florida Talk real Estate is a dot com.
You have access to entire team. We've noted a few
of the really valuable members. These are those pros experts
in their field and you get them all at one source.
We call it the one stop real estate shop for
a reason. It's floridatalkreal estate dot com. You can call
the hotline eight eight eight nine seven three seven eight
to eight. You'll find it at floridatokreal estate dot com.

(21:14):
Of course, on Facebook and YouTube as well, it's floridatokrealestate
dot com.

Speaker 5 (21:18):
Just one more thing about this whole Hallen thing. Check
this out, Johnny and Jimothy. I you know, this storm
to me was amazing. I covered Andrew as a reporter.
I covered a lot of hurricanes, so I was standing
out in this storm in the middle of the night,
like all the jerky reporters, standing there saying it's rindy

(21:39):
and rainy and trees are going down at para lines
it down, Oh no, right, and just stand out there
saying duh. You know, I always thought that that was
exercise of fertility. Futility, not fertility.

Speaker 2 (21:52):
There's always a baby boom after the storm, so you
never know.

Speaker 3 (21:56):
Nothing else to do.

Speaker 5 (21:57):
But here here's the report I read that it might
be a little bright spot that I'm going to tell
you another report I read this morning. This isn't the
bright spot. Helene was really devastating. It might have been
they're saying it as far as death's equal to or
maybe more than a katrino, which was our deadliest storm.
Right now, when I last time I checked, there's over

(22:18):
two hundred dead.

Speaker 2 (22:19):
There's still a bunch missing, isn't there.

Speaker 5 (22:22):
Yeah, that's why I'm saying it's only two hundred right now.
I think the numbers are gonna go out much higher.

Speaker 3 (22:26):
I don't even think they know how many are missing.

Speaker 4 (22:29):
I mean, there's just areas that are unaccessible and will
be for a long time before they can even find
out if they're missing.

Speaker 5 (22:36):
Or not exactly. They can't even get it's still they
can't even get into certain areas in North Carolina right now.
I at least what I'm reading, they can't even get
in there to do anything yet out there. But this
is the thing that I thought was kind of interesting
Ian right now is now this is only hurricane insurance,

(22:57):
not flooding. Okay, because flooding will be different. But the
hurricane Hurricane damaged for Ian in twenty twenty two that
destroyed Fort Myers was twenty one billion. Okay, how much
do you think they're budgeting for the Florida and Georgia
for insurance costs not flood how much do you think? Uh,

(23:18):
the damage is estimated to be for this storm compared
to Ian at twenty one billion.

Speaker 2 (23:22):
So everything has only gone up. I mean literally everything
has only gone up. So, I mean I gotta imagine
we're higher than that by I don't know, a couple billion,
are you?

Speaker 5 (23:32):
So you think like twenty three twenty four billions?

Speaker 2 (23:35):
Yeah? Yeah, I feel like I feel like a billion's
like twenty buckses. Yeah, I mean there's a billion, there's
a billion.

Speaker 3 (23:40):
Sadly, what do you elon that way?

Speaker 2 (23:43):
Right?

Speaker 4 (23:43):
It almost does feel that way like this will be
you know, if that was twenty like you know, this
will be thirty or thirty five billion, uh, if not more.

Speaker 5 (23:51):
When all said, here's what they're saying, three to five billion,
that's it, huh. And the reason why they're saying that
is where it hit instead of hitting Tallahassee or direct
hit on Pensacola where all you have the multimillion dollar homes.
It actually the path went through a very desolate area,
not very well developed I should not say not very

(24:13):
well but a not very developed area of Florida.

Speaker 2 (24:16):
Yeah, it's not just home home home home home home
home yeah, I see exactly.

Speaker 5 (24:20):
So they're saying only three to five million.

Speaker 2 (24:22):
So that's so. You also did say, and I'm sorry
to interrupt you, but you did say not including flooding, right,
So this is oh, yeah, is the twenty one billion
from Ian including flooding?

Speaker 5 (24:32):
No, that was just a regular damage, not flooding damage, right.
So here. So I was thinking, ah, that's pretty amazing.
We kind of because I remember when Helene hit last week,
I said, what's going to happen to her? You know,
I was really hoping we were going to be pretty
much on skate this year because the insurance industry and

(24:53):
the homeowners needed a break. Then Helene hit and I
was like, oh, oh, this looks really really bad. Then
I saw three to five billion, and I was like,
you know, that is a very light bill for a
pretty major hurricane.

Speaker 2 (25:05):
Right, things considered.

Speaker 5 (25:06):
But then I read a report late late last night,
and I didn't have time to pull it and really
read it. I just you know, skim scam. The headline
they're saying that the damage for the five states for
this hurricane one hundred and sixty billion dollars is what
they're estimating. I think that will include the flood with
flood with flood.

Speaker 4 (25:24):
And that's it, right, Yeah, because this storm seems to
be more of a water damage than a wind damage.

Speaker 5 (25:32):
Yeah, I would agree with that.

Speaker 4 (25:34):
Yeah, I mean I know that there were aries Perry, Florida,
and you know, what do they call it?

Speaker 3 (25:39):
The bend the curve?

Speaker 4 (25:42):
Obviously you know they took a big brunt of the
wind damage. But we seem to be the more videos
I see all based on flooding.

Speaker 2 (25:51):
There's a lot of video I saw too where it
does appear like some good patches are tornado damage too.
That just really looks like a tornado rip through there
because there's a home completely and untouched, touched, untouched, touched.
But when they're just decimated like gone, untouched, gone, untouched,

(26:15):
you're like, well that's probably tornadic activity.

Speaker 5 (26:18):
Yeah, yeah, you're right.

Speaker 4 (26:19):
And where does that fall under the insurance you know?
I mean when they want to point sweating wind.

Speaker 5 (26:25):
I think that would be when tornado hurricane I think
is pretty much the same thing. But who knows, because
it's insurance and it's wacky.

Speaker 2 (26:32):
You know, here's a ridiculous and it may not be ridiculous,
but I felt like after the factor I was like
that's kind of a silly reaction. The amount of wood
structure homes that are still existing in Florida blew my mind.

Speaker 5 (26:45):
I didn't watch it, just.

Speaker 2 (26:46):
Watching it like it looked like Andrew where You're like,
it's just timber everywhere. Oh, it just would hold. I
just felt like we had way more concrete block structures
in the state than I guess what we did.

Speaker 4 (27:00):
I want to think that rosst told us at one time.
And when you get closer, you know, away from the coast,
you know, it goes more towards that the wood frame instruction.

Speaker 5 (27:09):
Well, here's a good subject. Nick is watching live on
our Facebook. Thank you Nick, And Nick said, I just
left Palm Beach Gardens after thirty five years bought. I
bought a brand new build in Palm Coast. And my insurance,
my insurance, including my insurance Whimstorm, is only five hundred

(27:32):
and ninety dollars a year. Right, so there are pockets
of Florida where you can get a much reduced insurance.

Speaker 2 (27:39):
Policy, especially with new construction.

Speaker 5 (27:41):
And right, yeah, new construction really helps out. Jimmithy, I
know that when let's just talk about this real quick
and then we'll take a break. But when you bought
your brand new construction home. I remember that at first
it was and I got the numbers I'm sure wrong,
but like around eighteen hundred a year for everything, and
then but by the time it was built it went
up to what twenty eight hundred a year.

Speaker 4 (28:01):
Twelve hundred oh was the initial in July was the
initial estimate that we got from Ross and then when
we actually went to have to go apply it, it
was about two thousand. So it went up about seven
hundred dollars in a three month period.

Speaker 5 (28:14):
In a three month period.

Speaker 4 (28:15):
But again this was a went from a house that
wasn't even built yet to being built but new construction.
I still really don't understand why there was such a
big jump in big gap.

Speaker 5 (28:26):
There, right and but even two thousand, the average policy
in Florida right now, according to the reports I'm reading now,
this is statewide, so this is Florida high risk and
low risk pockets. It's sixty three hundred a year the
average ere The average for the United States for insurance
policy right now is about twenty eight hundred. So we're

(28:47):
at sixty three hundred just on average, where we're the
highest in the nation. I believe that's going to change.
With the wildfires that are happening out in the West
all the time, the flooding that we've been having in
the Midwest, and the tornado turnatic activity in the Midwest.
It just seems like there's always some big national natural

(29:09):
disaster happening somewhere in the United States at any given
time now.

Speaker 2 (29:12):
Which is why that you know, proposal to possibly have
some national pulling for coverage might not be a terrible idea.

Speaker 5 (29:20):
Yeah, I'm not. I'd like to learn more about it
to see. I don't know if everybody in the country
is going to agree with it, because you know, if
you're in a state like Wyoming, that probably I'm making up.
I think Wyoming hardly has anything right.

Speaker 2 (29:32):
Well they have, they have statistics right, and you could
you can insurance companies do it. They base their risk
based on the statistics, right, So you just have different
assessment of risk and then your percentage. I mean, everybody's
insurance is a different state to state. I can see
them working that, and if you live in a state
where you're less susceptible, you're gonna pay it cheaper like

(29:54):
you do now. Your policies in Wyoming is probably considerably
less than our policies here in the South. That's true
because well, we're in a more dangerous area. So I
could see them working that out to where that stays
par for everybody.

Speaker 5 (30:08):
I'm just wondering, you know, just human nature of watching
everything that's happened with politics and everything. I think that
the people that are in the states that aren't his damaged,
they're gonna feel that. It's like, why should I pay
for the Florida people that are crazy? En know us
moved to Florida.

Speaker 2 (30:23):
You know you muld also be paying for the California
people that are crazy enough to move to California.

Speaker 5 (30:27):
Yeah, And that's the thing that the people that but
actually a safer states, they're probably going to say, why
am I going to have to shoulder the burden for
the other people you chose to move there, You should
pay the cost.

Speaker 2 (30:38):
But again, if they spread out the national cost accordingly
for states' risk, like again we do now you pay
more of Florida than you do in Montana. Right, you
just you just even that cost out to where they're
not paying anymore. They're paying similar risk assessment, right, similar
cost or better because it's pool you'd like to think

(31:00):
it would get better if it was pooled. If it's
not getting better, what are we doing? If you're not
improving it for everybody, what are we doing?

Speaker 5 (31:08):
Yeah? I totally understand. It's going to be interesting how
this is all going to work out. We're going to
keep an eye on it throughout the whole thing, try
to get some experts on here. Let's go ahead and
take the break and on the flip side, we're going
to do a very interesting thing. Remember that FED rate
cut that happened, Yeah, yeah, sure, Well the subject of
the next segment we're going to talk about is called

(31:30):
the FED rate versus the mortgage rate, the big Lie,
because that's what's happened with this. We're going to get
into it. We've been talking about it for weeks. What
we predicted, which was against the rain, against the grain
of everybody, all the big national conmoments, we ended up
being right. The national economists and all the other people,
the main Wall streeters and all that, they end up

(31:51):
being wrong. And we're going to explain why and what
to expect to come next with the November's FED rate decision,
whether they're going to cut the rates or.

Speaker 2 (31:59):
Not excellent, very valuable information coming up. Of course, you're
always welcome to join us. Toll for you at eight
seven seven nine two seven six nine six nine. You
can load in right now and we'll be happy to
get to your phone calls on the other side of
a quick break. Of course, if you're not comfortable on
the radio, Always remember you have the entire team just
a couple of clicks away Florida Talkrealestate dot com. You're

(32:19):
one stop real estate shop. You get an entire team
of pros pros. This is a remarkable resource for you,
the one stop real estate shop. This team works cohesively together.
I've seen it for many, many years now. I've experienced
it myself. I have friends and family that have as well.
You can too, buying a home, selling a home, stuck
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you're part of the condo crisis. You need a pro.

(32:41):
Go to Florida Talkrealestate dot com. Know what, use it,
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But remember the dot com. It's Florida Talkrealestate dot com.
We're back and forth minute. It's great to have you
with us every Saturday it's Florida Talk real Estate right
here on Royal Radio.

Speaker 1 (33:09):
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 (33:19):
That's it at eight seven seven nine two seven six
nine six nine toll free. Those things are working over
there on the Saturday, jimithing everything sure? Are you anything
good over there?

Speaker 3 (33:28):
Oh no, let's take it.

Speaker 2 (33:31):
Okay, that one works? Yeah?

Speaker 5 (33:34):
Where are the phone calls today? Everybody's home? It's raining.
I'm sorry, Gay Stupp talking there.

Speaker 2 (33:38):
You're good. I like it?

Speaker 3 (33:40):
Okay, all five lines are working.

Speaker 2 (33:41):
All right, it works old, you like it? A lot
step of cubes?

Speaker 3 (33:45):
Step up a cubes?

Speaker 2 (33:48):
Who was it?

Speaker 3 (33:49):
What shall yeah?

Speaker 2 (33:50):
Yeah, come on eight seven seven nineteen six h Yes,
it is uh Saturday morning. We are live on this Saturday.
What's today? The fifth? Sixth fifth? Thank you very much
of October. Snip on my cubes there anyway? Nothing know.

(34:11):
I'm Johnny C. That's JIMMYY, our producer EXTRAORDINATY.

Speaker 3 (34:13):
Hello and good morning, Happy Saturday.

Speaker 2 (34:16):
Good morning and happy Saturday to you as well. Always
remember Florida Talk real Estate is at dot com. You
have access to the entire team, like our fearless leader
Jimmy D. Jim Depola I've told you runs a top
producing Callowayia scene. At Kellowaiams Innovations, you find the Florida
Home Pros team. There's Jimmy D, Jim Topola.

Speaker 5 (34:32):
How you be Hey, Thank you so much, Happy South Florida.
Everybody stay dry. When I was driving over here for
the first time I've been living in Jupiter by the Beach,
the road was pretty flooded coming out out of my complex.
I haven't really seen that yet, and I was thinking, Oh,
the rains aren't even gonna start until tonight. So I

(34:52):
don't know if anybody's been reading the reports, but this
sloppy storm looks like it's gonna do what they called
torrential down over our area for maybe multiple days straight
and we might get up to a foot of rain.
This is going to be interesting tropical storm.

Speaker 3 (35:08):
Is it going to develop into that?

Speaker 5 (35:10):
That's what they're thinking. So today we're going to get
the bands of this first little system. This first little
system they call the string being system because it's long
and long and thin. And we're going to get bands
of that supposedly tomorrow night, and then later in the
week we're going to have this other bigger system that

(35:31):
was actually in the Pacific and it went over Mexico
into the Gulf and now it's head and over and
they think that's going to hit somewhere between Fort Myers.
When I checked last night Fort Myers and cedar Key,
I'm like, Oh my God, how much more can these
people take because the storm surge is supposed to be pretty.

Speaker 2 (35:48):
Bad on there.

Speaker 5 (35:49):
Really, Yeah, So I'm really praying for everybody that we
can get through this pretty decent. So God bless everybody.
Hope everything works out.

Speaker 2 (35:58):
Well. That's it.

Speaker 5 (35:59):
So I want to talk about this FED rate cut
that everybody the magical Fed rate cut that everybody was
talking about, how it was just going to be this
pantas for the real estate market. And the theory was, Oh,
the Fed's going to cut the rate, the interest rates
are going to drop, and everything's going to be fine.
The buyers are going to come back. Because in Florida
we've had very slow sales. Prices are slightly down overall,

(36:24):
not crazy down. It could bounce back very quickly. Palm
Beach County, for example, for single family homes as far
as from January untill now. The peak we hit was
June of six fifty nine, but we're only at six
seventeen last month in September, So that's like a three
percent variance, and that's really more of a variance than anything.

(36:45):
Is not a trend yet. That's median median sales price,
which we know is fifty percent sell more and fifty
percent sell less, much better than the average to kind
of determine really what the values of the home are
at that moment. But so the theory behind this FED
rate cut is everybody was debating was it going to
be twenty five point two to five cut or a

(37:08):
point five cut, And everybody, of course was hoping for
the point five cut, because a point five cup means
a lower interest rate, right, That's what everybody's saying, lower
interest rate, lower interest rate. So let's go over some
fat and what we were saying at the time, me,
you and Mike Row Johnny we all, you and Mike
were kind of on the same page for several several
weeks when we talked about that this where you felt

(37:31):
that the Fed wasn't going to cut the rate. Mike
felt the same way at all. No cut, right, And
your theory behind that, and tell me if I'm repeating
this wrong, was that you didn't think we needed to right,
That was just going to churn up the inflation again
and make inflation come back really strong. Exactly understand that
point of view, yep. I was kind of leaning with

(37:53):
you guys for a while, but then I felt like
I thought at first that they would do a quarter
rate cut just because the numbers were kind of almost there.
We were almost at the inflation rate they wanted. We've
been hanging around two point eight to two point five
percent inflation for the last several cycles, and we needed
to get to two. And the other thing was is

(38:14):
that consumer spending was slowing down at that point according
to the consumer Price Index, the consumer consumer outlook, I
forget what they call it, but like, do consumers think
the economy strong or not for them personally? And that
was starting to slide a little bit. So I said,
you know what, because we're in such a wonky area,

(38:35):
maybe they'll do a quarter point cut just to see
what will happen, and should try to hedge their bets.
And then after a while, right about two weeks before
the FED actually was coming to the meeting, I said,
you know what, I can see a half point cut.
And then I said, if they do a half point cut,
we might not see a mortgage rate decrease at all,

(38:58):
because the banks might, the people that control the tread
ten year Treasury Bill, which is the long term economic
outlook of what they're projecting the future to be for
our economy, that is directly tied to the mortgage rate.
And if the T bill people, the ten year t
people got spooked, if you will, I felt like that

(39:21):
was going to make them not reduce the mortgage rates.
So what happened? Okay, So on September nineteenth, when we
I have some stats here on September nineteenth, the day
that the mortgage rates were dropped, and they did drop
a half a point. On September nineteenth, we were at

(39:41):
six point.

Speaker 2 (39:42):
Not the mortgage rate, the FED rate rate, the FED rate.

Speaker 5 (39:44):
I'm sorry, thank you, Johnny. The mortgage rate was six
point nine. That's what the Freddie Mack rate was for
a thirty year mortgage. Right then the FED dropped the
rate to half a point. Everybody like celebrate. It was
like Christmas Day, and everybody's like, thank God, thank god,
the buyers are going to come back. Blah blah blah.

(40:05):
Buyers did come back. Buyers started applications rose for refis
and for mortgages. Why because you know what, Freddy Mack.
The next week after this half point cut, we went
from six point oh eight to six point I mean
from six point nine to six point oh eight. We

(40:25):
had a point zero one rate interest rate cut related
to that FED rate cut. Actually, I think you probably
will save about a nickel on your mortgage if you refined,
and it would only take you about thirty years. It'll
probably take the length alone to make that refi money
back on the nickel a month that you're saving on

(40:46):
your mortgage. Right, So that whole thing was all smoke
and mirrors. But now we have another report from Freddy
Mack right the next week. So what do you think
happened with the Freddie report this week this Thursday? Did
it go up from six point eight or did it
go down from six point oh eight because maybe the
market needed time to catch up with the half point drops.

(41:07):
So what do you think happened?

Speaker 2 (41:08):
Well, you know, Mike always talks about it. Mike Row,
the mortgage guy from the mortgage firm, always talks about
how this it just kind of it's like a wave
out there in the ocean. It just kind of goes
up and down a little bit, just not a lot
of bit, just little tiny So if it just it's
a little blip like it did last time, I'll say,

(41:28):
I'll say it say flat. How about that it's glassy
out there right close?

Speaker 5 (41:31):
What do you think, jimthan if.

Speaker 4 (41:32):
There was a significant amount of applications for mortgages, I
wonder if it ticked up just to.

Speaker 5 (41:38):
Touch it went to six point one to two, so
we went up point oh four. Still, so now it's
like seven cents, right, it costs you seven cents more
than well maybe three cents more than last week, okay
for your mortgage because it's six point one two.

Speaker 2 (41:54):
Essentially nothing, It did nothing, nothing flat.

Speaker 5 (41:56):
Which Mike and I had always said that, look, you
already got your interest rate drop. They baked it in
because they were expecting the Fed cut the rate, and
we and I was kind of correct that if the
Fed cut the rate more, our interest rates were probably
gonna stay and not drop dramatically. Right, And that's kind

(42:18):
of what happened because the banks had already cut in,
baked in that they knew the rate was going to drop.
Now if they did nothing, I think that would if
if the Fed did nothing and didn't cut the rate
at all, I think that would have dropped the interest
rates more if that happened, because everybody would have said, uh, oh,
I'm worried that, uh, we're not going to have enough business.

(42:39):
We better drop the rate to get some people, more
people to come in. And the banks would have drop
the wanted to drop the rates for that reason. At
my theory, they gotta make business, they gotta make money, right. Yeah,
So here's my prediction for next week, guys. This six
point one two is going to be like six point
two eight, six point three five, a big big jump.

(43:01):
Why the T bill yesterday went nuts? They went nuts.
When we started out the day the Fed cut the rate,
the T bill was three point six three okay for
the T bill rate, and then when the Fed cut
the rate that day, it went up to And the
T bill rate is moment by moment like you can check.

(43:22):
It's almost like the stock market and looking at it live,
you can Freddie Mack is a once a week report. Okay,
it's based on the weak activity. The T bill is
moment by molment, millisecond by millisecond, so you can go
on and watch it going.

Speaker 2 (43:36):
Up or down.

Speaker 3 (43:36):
If you can buy it at any moment, it's a stock.

Speaker 2 (43:39):
Right.

Speaker 5 (43:39):
So the T bill started at three six three. They
cut the rate that day. It went to three six
' five. It didn't go down, it went up. Every
time the ten year T bow goes up, mortgage rates
go up. If the T bill goes down, mortgage rates
go down. Direct correlation. Okay, unlike the FED rate. Now
we're at three point nine to three, we're point three

(44:02):
higher than we were before the rate cut. Right. So
this is the reason why I have such a big
problem with this and the reason why I talk about
it so much. It drives me crazy. When you see
the media said the Fed cut the rate, interest rates
are the lowest they've been since twenty twenty three. That's

(44:23):
all true, But the Fed cutting the rate has no
correlation to the interest rates that dropped, and they and
the media ties them together all the time, and sometimes
it's right on this show, we have saying FED rate
cuts mirror the mortgage rate drop at the same time
a least. We've seen it go the other way too.

(44:46):
We've seen it where the FED cut the rate, the
interest rates went up, and people forget about that. Ye,
so this became the big lie in the media, and
everybody thinks it right Mike told us last week or
the last time Mike was was he on the show
last week? You think it was? Yeah, it feels so
long ago. A week ago. When Mike was on the
show last week, he was saying how many phone calls

(45:07):
he got? Hey, I want to I want to get
a REFI I want to get a refie. And Mike's like, well,
I don't think you should do it. You know, I'll
check it, but I don't think you should do it.
He's like, what are you talking about? The Fed cut
the rate from now on, people, if you see the
Fed cut the rate, that does not mean the mortgage
rates are going to change. You need to talk to
professionals and know what's going on and get a better plan.

(45:29):
The other thing that I think that really people should
know about this is please don't rely on the interest rates.
And we've talked about this many many times of the show.
Don't let your interest rates decide whether or not you're
going to buy your personal residence home investment home. Different story,
fair enough.

Speaker 2 (45:47):
Sure, because you have margins, you have numbers, It matters more,
I think to the investor right way more.

Speaker 5 (45:55):
Yeah, if you're an investor, you should be really aligned
with that stuff. But if you're a regular homeowner, you know,
the every person that just wants a place that that's
theirs that their family can live in, that's increasing in
equity and getting the tax breaks for owning the home
and all of that. Those people, those people should not

(46:15):
be worrying about the interest rate other than whether the
interest rate that's happening at that moment is affordable enough
for them to afford the home that they want. It
should be about can you afford the home that you
want versus what the interest rate is? You're missing a
whole big thing. And the reason why I'm saying that

(46:37):
interest rates in November we're seven seven nine, and now
we're at six point one to two. So does that
six point one two look too bad to the people
that bought November, they're smacking their head and said, wish
I had I should have a V eight. You know
what I mean? But the good thing is if they
did buy at that high peak because they had to

(46:57):
at the time and they could afford their house, this
is a great time to refive for them, potent because
you might get a point and a half drop. And
if you bought your house last year, refining a thirty
millia mortgage into another thirty year mortgage, again, you're not
really losing that much right now. If you've owned your
house for fifteen years and you've been paying on a
thirty year mortgage for fifteen years.

Speaker 2 (47:19):
Well, if you were a seven percent for fifteen years,
that's a that's rough.

Speaker 5 (47:23):
Huh yeah, yeah, yeah, yeah, yeah, that would be pretty
bad bar But uh yeah, I know fifteen years ago.
What where were we fifteen.

Speaker 2 (47:35):
Thousand, Oh, I'll tell you a thousand and nine. I
was so bad with time. I was thinking, now is
around the time that we bought. I'm actually ten years.

Speaker 5 (47:43):
Let me see, I'm going to look it up because
they got here and now you got me thinking, okay,
two thousand and nine, twelve.

Speaker 3 (47:49):
Okay, so we were that was on the big slide down.

Speaker 5 (47:52):
Oh yeah, you're right, well already down. We were about
five We're back five fifteen years ago yeah, so, but
that's a good one. I love this chart. I love
my Freddie mackchart. It's awesome anybody. It's so simple too.
All you got to do is go search thirty year
mortgage rate Freddie Mac and you'll get the Freddie Mack Report,
which is the government report, which is a survey of

(48:14):
mortgage brokers across the country reporting back what kind of
loans they're riding at that moment. They called out the
information and they put it out every Thursday afternoon and
they've been doing that since nineteen seventy one. So it's
a nice good indicator of where interest rates are going.
And if you look at the chart, well, let's do this.

(48:35):
I'm gonna have a little fun here. Do you mind
if we just take a just a really quick second here.
What I'm gonna do is I'm going to show while.

Speaker 2 (48:42):
You said that out learning remind everybody that Florida Talk
real Estate is a dot com. We call it the
one stop real estate shop for a reason. You have
a team of pros. Pros. These are experts in their field.
You get them all at floridatalkreal Estate dot com. There's
a hotline there. You can call it twenty four hours
a day, seven days a week. You're just a click away.
If you're looking to buy a home, sell a home,
you stuck with the home, you don't know what to do.

(49:04):
Remember Florida Talkrealestate dot com. No it is it love
and shared Florida Talkrealestate dot Com.

Speaker 5 (49:09):
Just to give you an idea the people on YouTube
and Facebook right now, I have just shared the Freddie
Mac chart on the thing, so anybody watching it there
can actually see the chart and can see what we're
talking about every week. So I did a year chart
basically that you're looking at right now, which shows the
seven seventy nine, which was October twenty six, twenty twenty three.

(49:33):
The lowest point we've ever got to since then was
six point oh nine, which was two weeks ago. So
the six point one two I checked it out. That's
the lowest rate we had since twenty twenty three. And
then because in twenty twenty three, like at the beginning
of the year, we were of twenty twenty three, you
were close to that rate, and then the last time

(49:55):
we were at that rate before then was in twenty
twenty two. This is basically the lowest interest rates we've
had for two years. So this whole thing when buyers
are trying to outwit what's happening with the interest rates,
it's it's an exercise of fertility, and you're really playing
a game that's probably costing you.

Speaker 2 (50:14):
It's not a phenomenon, Sadly, it happens all the time
in every cycle. But you are absolutely right.

Speaker 5 (50:20):
Now with the FED rate. Okay, they're coming out November.
Everybody was talking when they cut the FED. When the
Fed cut the rate an amazing point five last time
in September nineteenth, everybody was predicting a quarter point to
half a point cut for November. Not anymore. The Job's
report came out yesterday.

Speaker 2 (50:40):
It was pretty good.

Speaker 5 (50:40):
Oh my gosh, it came out very strong. So the
month before everybody this is probably why we had the
half point cut. The Job's report came out to one
hundred and forty thousand new jobs filled in the month
of August, and that was very, very low. They thought
it was going to be one hundred and seventy five,
one hundred and eighty five, so that there was a

(51:02):
significant drop. And then the type of jobs people were
getting weren't very good. They weren't like primo want to
be there for life kind of jobs. Right, There were
a lot of transitional kind of jobs and things like that,
not very high paying. Got a lot of people concerned.
This job's report was zacked opposite. So let's go over

(51:22):
that just real quick. There were two hundred and forty
two thousand jobs, about one hundred thousand jobs more reported
this time. But it isn't It isn't just that the
unemployment rate went from four point three to four point
one or four point two to four point one, I
don't remember, but the unemployment rate dropped slightly. It had
been creeping up over the last four or five reports,

(51:44):
so we've seen unemployment kind of level out.

Speaker 2 (51:46):
Now, did we get in the threes.

Speaker 5 (51:49):
For unemployment, Yeah, there was a time over a year
ago that we were in the threes.

Speaker 2 (51:53):
And we've been saying it like four or four to one.

Speaker 5 (51:56):
Yeah. Ever, now we had gotten we had gotten as
low is into the high threes. And that was the
best that we had other than in twenty nineteen before COVID,
Because I did check, I went on to chat GPT
and asked, and we were at three point seven unemployment.
The average unemployment rate for twenty nineteen was three point seven,

(52:17):
which was the lowest in fifty years. And then the
after we got through the COVID thing, I think it
was twenty twenty three, we either tied or beat that
three point seven percent. But after that it started creeping
up into the forest and it never got past the
low force. But now we see it go from four

(52:37):
to three to four ones, So we're seeing a little.

Speaker 2 (52:39):
Bit like in that the range they want it, they
want it right around there right.

Speaker 5 (52:43):
Well, when Clinton was president, when President Clinton was president
ninety two to what ninety two to ninety ninety two
to two thousand doves. During that time, there was a period,
I think it was his first his first term, the
interest rates got below four unemployment got below four percent,

(53:03):
and the media was going crazy and Congress is going
crazy saying that that was not a healthy unemployment rate,
that it was too low because the employers were complaining
that they couldn't find people to fill the jobs. And
that's a problem too. You could have too low of unemployment.
Anybody thinks that unemployment should be zero didn't take an

(53:24):
economics course, because when you take economics courses, what they
teach you is you need to have unemployment, because the
unemployment gives you fluidity that workers feel like they can
move from job to job and not feel trapped. That's right,
right now. Here are some of the other positive things
about this report. And this is why I think the
FED is not going to do a half point cut.

(53:45):
They might not even do a quarter point cut next time.
And this is unless we get some other really bad
reports between now and November. The job that were created
were really high quality jobs, this time restaurant, health care,
government agencies, construction where the big.

Speaker 2 (54:03):
Hires restaurants considered high quality.

Speaker 5 (54:05):
Well, sometimes you are. It isn't servers, it's other types
of It isn't just the servers, right, but right.

Speaker 2 (54:12):
I'm not unless I'm gonna give you an awesome tip.
I appreciate your service. But I just know it is
the highest paid jobs. Right.

Speaker 5 (54:22):
But the restaurants always in the top three, almost always
in the top three except for COVID obviously, right, it's
always in the top three. So it's just there all
the time. So it's good.

Speaker 2 (54:32):
I felt like that's an industry that could only higher.
It has trimmed down so much. There's only one way
to go unless you're shutting down your restaurant.

Speaker 3 (54:40):
Yeah, a fair to high turnover rate too, yes, yeah,
in that business.

Speaker 5 (54:44):
Yeah, and that's why it's always in there. That's why
it's always high for the hires right now. The other
the other bright spot was professional and business services. For
the last three reports, we've been seeing negative increase in
jobs over that meaning employers were not hiring. The were
cutting back, cutting back, cutting back. This time, of the
two hundred and forty two thousand jobs, fifteen thousand we're

(55:06):
professional and business services. So that was a that was
about eight percent of the total hires. So that was
another bright spot. Here's another thing, Johnny, and you're this
is what you always said when we saw the people
getting jobs. You were like, yeah, but the but the
jobs they're getting aren't keeping up with inflation right now.

(55:27):
Inflation at one point was nine percent, so there's you know,
we had nine cent inflation two years ago and we've
been knocking it down over two years to this four percent.
We're at two point two point three percent inflation right
now according to last report, which is basically the sweet spot. Uh,
the people that got jobs, they had on average a

(55:48):
four percent wage increase, so that's actually about double what
almost double what the inflation is.

Speaker 2 (55:54):
So leaving one job that paid X and got a
job that now pays why they're making on average four
four And that's why you leave a job right to
go make more money exactly.

Speaker 5 (56:04):
And now that inflation's down, they're actually seeing an actual
they're actually concede in their day to day lives. When
we used to talk about before, you were exactly right
when people would get the new job, but it wasn't
keeping up with inflation. It was like you were treading
water or going backwards. Right, So, very interesting stuff. Let's

(56:25):
go ahead and take a break on the next one
we're going to talk about just delive really quickly, just
so we're not talking about all this gloom and doom
stuff right away. Let's talk a little bit about Delray beach.
I always find this interesting. We're going to talk about
beach renourishment. You know, it's always very interesting about How
can I.

Speaker 2 (56:42):
Just make one quick point while we're talking about this.
The numbers, the jobs numbers that just came out absolutely
highlights how the Fed should have waited until November because
remember their their their movement was based on the jobs
report from the month prior, and they were spooked. If
they'd waited, they'd have been like, oh, maybe we might
be good, which is again me and Mike's perspective was

(57:04):
this was all in the name of controlling inflation. Right,
things were going good. By by lowering the rate, you
may be juicing up spending again, and you could be
cranking up reinflation was the word of the buzzword. What
two weeks ago, right, you brought in here, and I
think with this jobs report, I think a lot of
us are going just saying, just saying, you could have

(57:25):
waited until November there was another meeting, A ride around
the corner where if you need it, and I know
you don't want to be late on your movement. I
understand you got to it's fine tuning. They ride the
gas a little bit, pump the brake a little bit,
ride the get like it's fine tuning here. I get that.
But might have been a good event of you should
have waited.

Speaker 5 (57:43):
But that's part of the big lie, Johnny, because the
rates didn't change. So we're talking, why are the consumers
all of a sudden going to go to.

Speaker 2 (57:52):
Defense? Are not dropping their rate for the mortgage rates,
That's not why they're doing it. No, right, that's not
why they have No. They don't care what the mortgage
rate is. That's not why they're doing They care about jobs,
and they care about.

Speaker 5 (58:05):
Inflation, right, price stability, that's what they call.

Speaker 2 (58:08):
They don't care what happened to the mortgage rate. They're
not doing it because of the mortgage rate. My point
always was, don't move it because we're controlling inflation. Again.
The only reason they did it, allegedly is because the
job's number from August spooked them, right, right, But this job's.

Speaker 5 (58:24):
Number right now, it's fact not so spooky.

Speaker 2 (58:27):
And this isn't because they lowered the rate. This was
in the chain already. So this might be a great
example of maybe you're a little hasty in your movement.
We're gonna see, well, it'll it'll play out in front
of us.

Speaker 5 (58:39):
And the other thing we have to keep in mind,
and you and I know this really really well, is
that jobs report really that strong? Are we gonna find
out two or three months from now that they're gonna
go back next year? We didn't get two hundred and
forty gott year.

Speaker 2 (58:53):
Next year they're going to adjust their number, as they
do every year. It's always funny when it's highlighted, they're like, look,
actually didn't create It's like, well, yeah, yeah, but they
did that last year too, and the year before, and
then before and the year before. Happens every year.

Speaker 5 (59:07):
So we're only basing it on what the report is
right now. But this report will be tweaked when they
because it takes them a little time to understand everything.
So this will be tweaked. We've seen it go, and
then the August report will be tweaked.

Speaker 2 (59:20):
Two oh yeah, one hundred and forty eight thousand might
been two hundred and forty thousand. I'm like, wow, we
were way off and we definitely.

Speaker 5 (59:26):
Shouldn't and we've seen that over the years. We've seen
that when we talk about But anyway, we're gonna flip
over and we're gonna talk about Delray Beach and the
renourishment plan. How much do you think it costs to
put sand on sand?

Speaker 3 (59:39):
We're gonna talk about that in a little bit.

Speaker 2 (59:40):
And I have a genius idea, by the way, a.

Speaker 5 (59:43):
Genius I want to hear it.

Speaker 2 (59:45):
Idea.

Speaker 5 (59:46):
Awesome.

Speaker 2 (59:47):
We got a lot more to get into. Another full
hour remaining for you on this Saturday. You're always welcome
to be a part of the program. Maybe you have
a genius idea that you want to share to the
masses and lose out on completely. Like me, I'm gonna
that's myself for better protect myself. Evidently you can join
us toll free eight seven seven nine two seven six
nine six nine. Of course, always remember Florida Talk real

(01:00:09):
Estate is a dot com. You need a team of
prospros behind you when you're buying a home, selling a home.
You're stuck with a home and you don't know what
to do. That's why I send you to Florida talkre
Estate dot com. No, what is it? Love it share
at Florida Talkrealestate dot com. We're back in for minutess
Florida Talk real Estate right here. It's thro all radio.

Speaker 1 (01:00:40):
Navigating today's real estate market can be tricky. Want to
buy or sell a house, financer and sure 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 Dapola and Johnny c on Real radio.

Speaker 2 (01:01:01):
That's right, we alive on this Saturday. We did determine earlier.
It's October fifth. Great to have you with us. Eight
seven seven nine two seven six nine six nine. That
is that toll free number if you want to jump
into the conversation. You got questions, comments, concerns, don't be shy. Jimothy,
our producer, is extraordinair over there, he'll line you up.
How you doing, my.

Speaker 3 (01:01:22):
Dude, doing a mighty fine.

Speaker 2 (01:01:24):
Good Good morning, Johnny, Good morning, my friend. I am Johnny,
Johnny C. That's right, your old buddy, your old pal.
Of course, your starting lineup as consisted today of one powerhouse.
We're a little thin on talent today, but we're leaning
hard on our fearless leader. Twelve plus years now. I've
told you her runs a top producing Kellowaives team, Keller

(01:01:44):
WAIVEMS Innovations, you find the Florida Home Pros team and
my god, Jimmy d jim Depola, how you be.

Speaker 5 (01:01:49):
That's right there, that's right, thanks, I'm doing pretty good,
much better than the rest of CUE. Let's see, Mike
has sprained a hammy oh Ross Kamara, now Kamarainet's did
the Achilles I'm choking. I even try to get a J. Holman,
the experienced appraiser right the appraisal pro I wanted him

(01:02:10):
to come on the show, and he has a lung infection,
so AJ get better. I couldn't get anybody that I
felt safe to put on the microphone without infecting somebody
else later. So we know the Greek got OCD issues
about that. So we want to make every time he
comes in here. Uh, just for people that don't know,
every time he comes into the studio before we start

(01:02:32):
the show, he always comes in and wipes it down
like we all got cooties.

Speaker 2 (01:02:36):
Well, I'm gonna make you feel a little bit better.
That is a that has happened literally every Saturday. For
has nothing to do with it what's in here before,
But uh, yeah, it has everything to do with it.

Speaker 3 (01:02:50):
Sure, and some of the He's not the only one.

Speaker 4 (01:02:53):
Yeah, there's been other people too that will constantly yeah and.

Speaker 5 (01:02:58):
Oh it's important show. I'm I'm surely joking. I'm not
insulted about it.

Speaker 2 (01:03:02):
But yeah, he takes a silk with shower. He's like,
you guys, yeah.

Speaker 3 (01:03:06):
Exactly, my seaswarm.

Speaker 2 (01:03:08):
I don't like that warm.

Speaker 5 (01:03:11):
So I always I always find it interesting when you
know the state of Florida tries and you know all
over the state where they have to pay money to
reneuriseh the beach. They call beach renursing. But basically what
they're doing is they're taking sand from one place and
put in a new place and waited for it to

(01:03:31):
go away, and doing it over and over again. It's
never gonna stop. It's going to be an unending exercise.
And I don't even know when they started it. I'd
really like if anybody out there knows, I'd love to
know who came up the idea with beach renourishment and
how long it's been going on.

Speaker 3 (01:03:47):
When I moved here in two thousand and one, the
first job.

Speaker 4 (01:03:50):
That I had is I still have my CDL license
and everything, so I was driving for a fuel truck,
right so i'd refuel the golf courses, construction site, things
like that. Even at that point, they were dredging from
one area of the sand to another up on the beaches.
They've been doing it as long as I've lived in Florida.
Not it's only twenty four years. I'm sure it started

(01:04:13):
well before that.

Speaker 5 (01:04:14):
I know for sure that in eighty seven. When I
became a journalist down here, I noticed that there is
beach renourishing at least I remember Boca very well the
beach or nourishment that was going on out there now.
And I've been down here since seventy four, but before
I became a journalist, I never really noticed, you know,
whether they were doing or not, and it wasn't really aware.

(01:04:36):
But one of the things I learned the last time
we talked about beach renourishment earlier this year is that
they just don't take the sand from anywhere. I always
thought that they dredged the sand from the ocean where
where the sand is being pulled out of and then
just push it back onto the shore. That's what I
thought happened, but apparently not. They actually look for the
same quality type of sand that is at your place,

(01:05:01):
so they don't just truck this. They truck the sand
in now, but they don't just truck any sand. It
has to match. And it makes sense because have you
guys ever been up to let's say, like Crescent Beach
up by Saint Augustine. Have you guys ever been up
in that area?

Speaker 3 (01:05:15):
Well, the different sand textures.

Speaker 5 (01:05:17):
Yeah, I know where you are, that sand is like
really I called sugar sand because it's really fine and
it's lighter.

Speaker 3 (01:05:24):
That reminds me to West Coast.

Speaker 2 (01:05:25):
Yeah, West Coast.

Speaker 5 (01:05:26):
Has that, yeah, yep. And then down here we have
a much coarser type of sand and it's tanner if
you will, right, And I'm colorblind, so take you know,
take that.

Speaker 3 (01:05:36):
For what it's And some areas it's more like Seashelley
kind of like that too.

Speaker 5 (01:05:43):
So anyway, it's really interesting. So Delray is going through
their latest version of beach renourishment and they just got
from the Florida to Pipe Department Environmental Protection. Uh, they
just got to proved for a nine nine point seven
million dollar grant or fun to help do the beach
Ree nourishment. But man, nine point seven that's a drop

(01:06:05):
in the bucket. So this is what it's really going
to cost to do the beach ree nourishment according to
the city. Nine point seven from Florida Department of Environmental Protection.
And they've already raised three point eight million from another
state project that the money hasn't been spent, So they're
getting that three point eight plus the nine point seven.
Then they're getting another eleven point one million from the

(01:06:28):
federal government and then almost four million from the county,
and if you add it all together, the grand total
is twenty eight million dollars to get the beaches so
that we have a place to put our umbrella and
our blankets.

Speaker 3 (01:06:41):
And that is just in Delray, Delray, Wow, twenty eight million.

Speaker 5 (01:06:46):
So think about all the beaches that have to do
that all the time. I know that in Singer Island,
Singer Island, let me tell you, if we ever get
the rise in water Singer Island, that place is going
to be messy. Because I live there for about a
year year and a half. Every time it rains, that
whole area on a one A floods really fast. Sometimes

(01:07:07):
it floods without rain. And when you look out the
window and you see how wide the beach is, let's
say in January, and then you look again in August
or September. Sometimes those beaches were so thin and on
such a steep angle from the erosion from the beach eros.
And if there were storms, it wasn't even enjoyable to

(01:07:28):
go to the beach. Like you couldn't just take a
walk on the beach because you literally your one foot
would be a you know, one of your feet would
be a foot higher than the other foot while you
were a walker, because the slant was so much. And
I remember going out there to walk a few times
just to enjoy the beach, and it was not enjoyable

(01:07:49):
at all, just to do walking exercises, right, It was
really kind of really kind of lame. Yeah, yeah, I
don't mind going in the water. Walking on that beach
was not fun. And they're gonna have to I know
that they've already done. I've watched them do the renourishment
over there. But basically they're just moving sand from one

(01:08:10):
place to another. It's costing a lot of money.

Speaker 2 (01:08:12):
So here here's my genius idea, by the way. Okay,
and I'm still working through, like the real the fine details,
because there's there's there's gonna be a process. You're familiar
with parrotfish.

Speaker 5 (01:08:26):
Yeah, of course, I love. I love when I go
diving and see them.

Speaker 2 (01:08:29):
Okay, so parrotfish scientists say, I I like to capture
ridiculous little information every day. This is this is something.
This is something I just pocketed like two weeks ago,
by the way, and I'm so glad I get to parrotfish.

Speaker 3 (01:08:42):
I'll look at it.

Speaker 2 (01:08:43):
So glad I get to use this so quickly too.
I'm not as smart as gym. So paredfish scientists say
seventy of the white sand beaches in the Caribbean and
in Hawaii are created by parrotfish. How and why. Pearfish
eat algae and they scrape coral and then there's this
indigestible carbonate calcium that in their throats they grind down

(01:09:09):
and they poop white sand. Yes, they poop beautiful, powdery
white sand that you see in like Hawaiian Again, scientists
say that's the beaches in the Seventy percent of the
sandy beaches and like Hawaii and the Caribbean are from parfish.
No kid, One large parrotfish can create a ton of

(01:09:31):
sandy year, a ton of sandy yere in their poop.
They poop sand, literal sand that when we walk around,
we're like, oh, my toes, it feels so good. It's
parrotfish poop. No kid, I'm not.

Speaker 4 (01:09:51):
White fish A ton larger and that's the waste. So
it consumes more than that.

Speaker 2 (01:09:57):
So yeah, here's the thing. We gotta we got to
start this parrotfish breeding program that we're going to control,
but we have to grow the coral too, So there's
gonna be a little bit of process, right, But as
we go, because corals living being, we can grow the coral.
We can we can make this environment for our business.
That this is our idea, and we're gonna we're gonna
get a parrotfish farm. Every large parrotfish is gonna be

(01:10:19):
a ton of beautiful white sandy. And then all of
a sudden they're coming to us for tons.

Speaker 5 (01:10:27):
Yeah they want yea, yeah.

Speaker 2 (01:10:29):
And our parrotfish breed and our our coral that we
we have here we can put into the oceans. We
can be like, hey, we have sat wear in abundance.
Now that we can actually help out some of our
environment that needs a little bit of nourishment.

Speaker 3 (01:10:42):
We start a glass company.

Speaker 5 (01:10:44):
Yep, good good.

Speaker 4 (01:10:46):
If we have three and sixty five of them, we
can have a ton of day.

Speaker 5 (01:10:51):
That's pretty crazy, isn't it. I didn't know about the
ton of day. I did know that. I did know
about them eating stuff and then grinding it up, and
then I thought it helped I thought it helped grow
the coral the coral reefs, is what I thought. But
it's sand is what they're producing.

Speaker 3 (01:11:07):
No, kid, that is actually fast.

Speaker 4 (01:11:09):
That's pretty cool when you look at I mean, we
can make joke a little bit about it, but but
the fact of what it does, it does seem a
bit I don't want to say unbelievable, because I know
the source is reliable, but it's a I mean a
ton I can't I can't fathom a creature creating that
much waste without consuming more than that.

Speaker 3 (01:11:31):
I mean, it just it seems kind of strange.

Speaker 4 (01:11:33):
It's maybe it's the biological process in which a ghost
or that it creates more than what it actually brings in.

Speaker 2 (01:11:39):
The way it breaks that down. Yeah, it just turns
into so much wild. Yeah again, I pocketed that little
ridiculous piece of information about two weeks ago, and when
you brought this up, I was like, oh, I can't
wait to drop this.

Speaker 3 (01:11:52):
There's a little bit of a nugget for you, unintended.

Speaker 2 (01:11:55):
Maybe maybe so the next time we really enjoy in
those beautiful white sugary beaches. Remember you're laying.

Speaker 5 (01:12:04):
You're laying it poop, You're living in poop. I don't care.
I love that, and I love those white sand beaches
up in Crescent beach. I lived there for a couple
of summers, and I was very lucky to be up there.
And man, I remember, I love walking on those beaches
where you hear that squeaky sound when you're walking on
the beach and you hear your feet squeaking on the
sound and everything is It's pretty cool that I love

(01:12:28):
that over there. Hey, on the next segment, just so
you know, we're not We're not there yet, but on
the next segment, we are going to be talking about
the condo crisis. So anybody that is thinking about buying
a condo or has a problem with the condo, we're
thinking about sounding a condo. I got a really good
segment coming up, so you know, stay tuned for that
and keep keep going. And anybody that misses any of

(01:12:51):
this show, you know, you can go back to our
YouTube or Facebook and watch them live. And the other
thing you could do is go to the iHeartMedia app
and go and just search Florida Talk Real State and
just listen to the audio. If you don't want to
see our ugly mugs, you can go there and uh
and do it. Because you know, I tell everybody that
I got the face for radio and the voice for newspapers,

(01:13:11):
so you know, go over to those things and you
can catch everything we're talking about. But let's just keep
on kind of light topics because we've been talking about
a lot of doomings.

Speaker 2 (01:13:21):
Well, since you go on light topic, I got a
quick question, sure before you dive into this, as we
talk about like beach restoration and you know, like some
of the things we have to contend with in Florida,
did all the iguanas go away? Like why is there
no more chatter over destruction from iguanas? Is it just
is it a cycle? Like does it just get replaced?

(01:13:42):
Are they still destroying sea walls everywhere? It's just not
being talked about anymore. Like it feels like they just
shut off.

Speaker 5 (01:13:48):
We need to get we need to get one of
those companies that you know takes the alligators and the
raccoons in your attic and all that and the iguana
killers and call them up and find out because what happened?
Did they just they just It's a really enough it's
a really good question. But I do see them around, sure,
not at the level that I saw him three years ago.

Speaker 2 (01:14:09):
It felt like they were really growing, like it was
Jurassic parking everywhere, and we were getting all the stories
out the destruction that they were causing. I mean, I
I know they're invasive and they can cause a lot
of problems, but I just feel like it's it's died down.
Is it just is it just buried?

Speaker 5 (01:14:25):
I just thought I just saw just something really really bad.
I hear their can I hear they're good eating. You know,
the economy has been really bad. I hear they're good eating.
I hear the same I hear in Honduras. I hear
like in Central America, you know they eat it. Sure,
you know in Such America it's like you know it's

(01:14:46):
one of the chicken fish iguana.

Speaker 3 (01:14:49):
Yeah, I'm making it up.

Speaker 4 (01:14:50):
But do we have did we have some sort of
a way to try to control the Poh?

Speaker 5 (01:14:55):
Yeah, we have those uh pop. Just like with the python.

Speaker 4 (01:15:01):
I thought there was like a I don't know if
season is the right word to use, or if there
was an event.

Speaker 3 (01:15:08):
To try to help control it. Maybe that that.

Speaker 5 (01:15:11):
You're allowed to kill them, But the funny part is
you have to kill them in a humane way. So
if you don't do it the right way, you can
still get in trouble for animal cruelty. You know, so
I don't know all the rules, so it'll be interested
to get one of those people on the show and
talk about that. But you're right about that, Johnny, I
haven't seen as much. You know. One won't know is
when it gets really called out and the newspaper comes

(01:15:32):
out that all the iguanas are falling out of the tree.

Speaker 2 (01:15:35):
Well, so that won't make news. But its just I
feel like nobody's even really talking about the destruction of them.
And maybe the population has just been thinned. Yeah, maybe
maybe it's just other things driving the news.

Speaker 5 (01:15:46):
Yeah, I'm not I'm not sure. Yeah, maybe the media
just got bored. It's like, okay, we had enough of Hey,
I wanted to talk about two reports that came out. Uh,
these are just little fun friendly things. It's a New
York article. I think it's money wise, is the media.

(01:16:07):
But they they were trying to find the best family
friendly cities, right, So they ranked one hundred and eighty
eight cities nationwide for family friendly. And how they determined
friendly friendly. Because I know Johnny's going to ask this
is desira ability, affordability, safety, and public education.

Speaker 2 (01:16:29):
Okay, schools yeah.

Speaker 5 (01:16:31):
So out of that, we we have a couple of
cities that are in three of our cities are in
that one hundred and eighty eight and southern just overall,
generally speaking for the United States, Southern destinations dominated the area.
But here's something that's interesting, like and I find this

(01:16:53):
hard to believe because I hear that. I know this
is called the Rocket City, but I don't hear a
lot of good things about Alabama. I remember one of
my friends was got a job in Alabama and his
wife almost divorced him because she did want to live
to Alabama. And even though it was Huntsville, which is
supposedly very you know, together city, But Huntsville was ranked

(01:17:14):
number one, number two, I'm sorry, but Orange Park, Florida
was ranked number three. Right, I don't know who. I
don't know who is. I don't know who number one
is because number two is Huntsville. Oh, Tulsa, Tulsa, Tulsa, Oklahoma. Oh,
I'm sorry, take it back Broken Arrow, Oklahoma, which there's

(01:17:36):
a suburb.

Speaker 2 (01:17:37):
Of Tulsa, Okay.

Speaker 5 (01:17:39):
But the Florida cities were Orange Park. Come on, give
me to me here, Orange Park. I'm sorry, I'm scrolling down.
I'm scrolling down Punta Gorda, Punta Gorda and Vero Beach.
So somebody in our area. So Vero Beach is one

(01:17:59):
of the family. Yes, Vero Beach. This is what it says.
Florida's Treasure Coast is home to one of its own treasures.
A town that has been voted of the voted one
of the one hundred best art towns in America, but
with some of its most affordable real estate. In a
growing location with great schools and safe streets, Its cool

(01:18:22):
Spanish style arts and entertainment district has independent shops and restaurants.
With the limited job market in an untenable commute to
either Fort Lardo Orlando, Vero Beach is living its best
beach lifestyle and keeping it affordable. The medium home price
in Vero Beach is only three hundred and seventy nine thousand.

(01:18:43):
In Palm Beach County it's six hundred and seventeen, So
you know, forty percent less or what eighty percent? No,
not eighty percent, about forty percent less If my math
is right, in moving into out ratio mean how many
people are moving into Vero Beach versus Lee. It's positive
to moving in by one point thirty six, so one

(01:19:06):
third more people come into the come in to move
to Vero Beach as opposed to leaving Vero Beach. The
population of Vero Beach was only seventeen thousand. That's like
amazingly small. Crime safety score was a B minus. In
public schools was an A minus. So that's a really
good area to think of if you're thinking in South Florida.

(01:19:26):
It is a very a very affordable area if you
don't mind moving to Vero Beach because it is pretty
far north. But the beaches up there are awesome. Oh yeah,
and you know, that's a very nice area and I
expect that to continue on and on. So that's kind
of interesting.

Speaker 2 (01:19:42):
There's a good there's pockets of money up in Vero.
I'm surprised the media in Vero is what it is.

Speaker 4 (01:19:50):
Probably because it's concentrated on the shore, you know, the
near the water.

Speaker 3 (01:19:56):
Yeah, and then there is so much more inland than
I don't.

Speaker 2 (01:19:59):
Think that will that's not an Indian? Was that an intern?
Every county median or a via median.

Speaker 5 (01:20:03):
I'm sorry it says zero beach, but there's and they
said the city is only seventeen thousand. So I think
it's the city, you know.

Speaker 2 (01:20:11):
Not the general area.

Speaker 5 (01:20:12):
It's not a metropolitan area. Yeah, I think it's the
city they're looking at, which is nice. I'd like when
they do that because a lot of times when you
read West Palm Beach is this or Miami's this, it
really isn't Miami. It's the metropolitan area Miami, which is
a much bigger area. A lot of times, metropolitan area
Miami includes Miami, Dade and Dade, Broward and Palm Beach

(01:20:37):
is one area, and they call it the Miami metro area.
So you have to, you know, just a little thing
on that. Now we're going to go to the flip side.
That was Family Friendly Cities Report. Yes, then there was
another report, Best Florida Cities to Retire. Now this is
according to wallet Hubs. So you know, it's just you know,
don't you know, just things to talk about.

Speaker 2 (01:20:57):
So we got pickle ball and affordability and really berg specials,
lots of Yeah.

Speaker 5 (01:21:04):
Now we're doing indoor picketball, indoor pick a ball because
it's so dang hot out there. They ranked while it
hub ranked four cities in Florida to be good retirement areas.
I'm not sure I agree with all this, to be
honest with you. But Miami, which has the higher highest
condo prices in this in the in the nation for

(01:21:26):
fees and stuff like that, Orlando, Fort Lauderdale, and Tampa. Right,
so they're saying they're best for retirement due to lower
taxes and quality, high quality healthcare. But they're not talking
about housing costs in here, which I really feel is
a huge thing for retirees. Is the housing costs is

(01:21:47):
just as important as the state income tax now, which
we're going to get into the next segment. So the
reason why people like this area is that we have
thirteen and fifty miles of beachfront, we have two hundred
and thirty three days a year on average that are
sunny compared to not sunny, and we have an array

(01:22:07):
of recreational entertainment opportunities. And there's no inheritance tax and
no estate tax down here. So these are all the
reasons why Florida might be a good retirement spot. I
really think that some of these things are being stripped
out by housing costs, which is what we're going to
get into next guys. Because it's ten thirty. On the

(01:22:29):
flip side, listen to this. A house in June in
Boyton Beach and a very high end country club community
just sold for one dollar and it closed, and I
just looked, and there are thirteen homes in that community

(01:22:50):
right now that you could buy for one thousand dollars
and the homes are super nice. And we're going to
talk about why that's happening right now because of the
condo crisis that we're going through. So on the flip side,
we're going to get into the condo crisis. If you
own a condo, you're thinking about buying a condo, or
you're in a condo and you're thinking, oh my god,

(01:23:10):
my fees are going outrageously high, you're gonna want to
hear the next segment.

Speaker 2 (01:23:15):
We're gonna have valuable information. Of course, always remember you
have access to the entire team pros pros at the
one stop real estate shop that is Florida Talkrealestate dot Com.
At Florida talkreal Estate dot Com, you get them all.
This team works cohesively together and you can experience just
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you don't know what to do. Everything in between Remember
Florida Talkrealestate dot Com on Facebook and YouTube as well.

(01:23:38):
But use that dot com. You got the hotline there,
you can call it twenty four hours a day, seven
days a week eight eight eight nine seven three seven
eight two eight at Florida Talkrealestate dot Com. We got
a formutive break. We're back at it. Thanks for being
with us every Saturday Florida Talk real Estate. It's right
here on real Radio.

Speaker 1 (01:24:08):
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 (01:24:17):
That's it, toll free and you are you're running short
on time if you're planning on making a phone call
on this Saturday morning to Florida Talk real Estate. We
got about twenty five minutes remaining before we pass the
time to the locker room on this Saturday, October fifth.
Johnny C, Well that's me. Jimethy is our producer. E
short on air. What's up? My brother?

Speaker 3 (01:24:36):
Hey, Hey, and a good a morning, good morning.

Speaker 2 (01:24:38):
And he'll line you up if you choose to dial
in at eight seven seven nine two seven six nine
six nine. If you do have questions, comments, concerns, you
want to get involved with the conversation we're having, You're
more than welcome. Always remember Florida talkreal Estate is a
dot com. It's your access to the entire team. If
you're not comfortable on the radio, know what, use it,
love it sharing. If you're buying a home selling home

(01:24:58):
you're stuck with it, you don't know what do you need?
Pros Pros like Jimmy D jim Depola. I've told you
for twelve plus years, one of the top producing kel
Awalliams Team, Keller Williams Innovations. You find the Florida Home
Pros Team. Jimmy D.

Speaker 5 (01:25:10):
Hey you be I'm doing good. Everybody happy, South Florida.
Hopefully you're all staying dry out there right now, and
it's gonna get sloppier or over the over the next
twenty four hours, So I hope you stay safe and drive,
stay say safe and dry through the next four or
five days. We might get up to a foot of
rain here in South Florida over the next four or

(01:25:30):
five days, so watch out. Okay, So get ready gonna
wish you had flood insurance if you're anywhere near water
in which we talked about in earlier segment, So catch
that out later. Hey, we're going to get into the
condo crisis that's happening here in Florida. This is a
very real thing. It's talked about as national news, and

(01:25:51):
I wanted to go through some facts and what I'm
gonna do is, I'm gonna talk about the good news,
because there is one good news for one community, gonna
talk talk about the bad news, which is pretty much everywhere,
and then I'm going to talk about the crazy news.
And what's the crazy news. There's this one community in
Pointon Beach, a very upscale golf and country club community

(01:26:13):
that's been around a long long time, and they've got
a forty seven million dollar bill coming and they had
to figure out a way to pay it, and the
homeowners are fleeing. And we just had I think the
lowest sale I've ever seen in my life in June,
one dollar to buy a condo. Well, they closed with
one dollar. That's what they paid for this unit.

Speaker 4 (01:26:36):
Now, my initial reaction is that that was sold to
a family member.

Speaker 5 (01:26:40):
Oh no, no, no, no, no, no no, Because they're
there are something like nine properties on the market right
now for one thousand dollars in that same community, and
how come. And we're going to get into that. This
is all about the condo crisis. Can you imagine one
dollar Johnny?

Speaker 2 (01:26:57):
Uh No, that's as Jimithy noted, that's a special circumstance.
That's a hook up.

Speaker 3 (01:27:02):
Yeah, yeah, that's all right. You know, you sell it,
you sell cars, so they don't have to pay as
much taxes. That's yeah.

Speaker 5 (01:27:08):
So we're going to get into them. So let me
let me start off with the We're gonna start off
with the bad news first, because that sets where we are. Okay,
So Redfinn uh which I'm not always a huge fan of,
but they do this research, so I'm going to take it,
you know, I'm gonna take it for what it is.
Redfind is a real estate brokeras company, but they're also

(01:27:30):
like a portal that you could look for properties across
the country on, kind of like a Zillo Trilia Reilter
dot com thing. Yes, but Redfinn, Yeah, they're one of
the bigger ones. Yeah, they are. I just don't like
those companies. I'm sorry, I'm a prejudice because I'm a
realtor and those people are not realter friendly those companies,

(01:27:50):
but anyway, Redfinn did a study of forty three metro
markets across the country, including Florida, and surprise, surprise, Florida
had the sharpest increases for condo fees anywhere in the nation.
Number one was Tampa seventeen percent increase year over year,
but Orlando and Fort Lauderdale weren't far behind with the

(01:28:13):
sixteen percent increase of condo price condo fees year over year.
West Palm is right up there in this upper group
of twelve percent increase year over year for condo fees.
Miami only saw a six percent increase year over year,
which is kind of surprising, but what they attributed that to.
Miami already has the highest median condo fees in the

(01:28:35):
country at eight hundred and thirty five dollars a month.
So the median condo fee in Miami is eight hundred
and thirty five dollars a month just to live there.
That doesn't include your insurance, or your taxes or any
other fees. It's just your monthly condo fee costs. Not surprisingly,
condo prices have been dropping across the forty three metro markets.

(01:29:00):
We've seen price drop of only one point nine percent,
not crazy low, but still one point nine percent drop.
Jacksonville had the highest price drop in the country for
condos at six point six percent, Miami's right up, Tampa's
right up there at five percent drop overall for median
sales price for condos, and Fort Lauderdale four point two percent.

(01:29:24):
They didn't put Miami in that West Palm in that group,
so I don't know. So that's kind of where we
are at. The condos increases, and a lot of these
condos because they're being struck with what I call the
triple whammy tsunami that's happening with them right now. So
what is the triple Rammy Number one? Insurance costs for

(01:29:48):
the community. Just like regular homeowners, condo communities are being
hit with high increases in insurance fees which they can't
control or predict until the new policy comes out. So
they get caught blind sided as to how much the
premium is going to be and they got to pass
that on to their condo owners. That's just a cost
of doing business. But it's much worse than that because

(01:30:11):
because of the sunnyside. I always get this wrong. I
think it's Sunnyside side. Thank you. One of my friends
lived down there and he always gets mad to get
this wrong. Sorry, Jim Surfside. The condo collapse that happened
in twenty nineteen, No, no, no, twenty twenty two.

Speaker 2 (01:30:28):
I was gonna say, it only feels like it's about
three years ago, but I am terrible with time. The
older egget.

Speaker 5 (01:30:32):
Yeah, I think it was twenty twenty one, Johnny, I
think you're right because of that. Yeah, they lost ninety
eight people there because the building just collapsed on itself.
What they found out later was there was a leak
in the pool that nobody took care of. The leak
got under the foundation of the building and it weakened
the foundation and the whole thing collapsed like it looked

(01:30:52):
like a Vegas implosion of one of those condos, I mean,
one of those casinos that they upload all the time.
It went down and we lost nine eight people there,
So a very very big deal, very tragic. So the
state stepped in and said, wait a second, why didn't
anybody fix these problems or deal with these problems because
they knew about it. But the condo group decided not

(01:31:13):
to deal with the problems. At the time it was happening,
and there was already a law on effect that any
building that was any condo that's taller than three stories
has to go through a thirty year structural engineering report
to see if there's any damage they need to fix,
especially if you're within three miles of the inter coastal
and a lot of people were just kicking the can

(01:31:34):
down the road and either not doing it or doing
the report, saying, ah, we're not going to really fix it,
we'll deal with it later for years, and now the
state's saying no, you can't do that anymore. And then
on top of it, so that's a double that's the
second whamming.

Speaker 2 (01:31:47):
Now.

Speaker 5 (01:31:47):
The first is condo insurance. Second is these structural engineering reports.
They're very expensive for these condos to do. Sometimes the
reports themselves are millions of dollars, depending on how big
the community is. It's just a report, that's just the report,
and then they got to do the report, and then
they are obligated to do the repairs. Now they can't

(01:32:08):
kick the can down the road, so the state is
also the triple whammy. The third whammy is the state
is now requiring all the condos to have enough reserves
to pay for these repairs in the future because they
know that they're going to have to continue to do
these repairs and they don't want any more deferred maintenance,
no more kicking the can down the road. So because

(01:32:29):
of these three things, we've seen condo communities decimated with costs.
There are some places down in Miami and Fort Lauderdale
where people are being charged two hundred thousand dollars for
all of those three things on top of their regular
condo fee. Right So, in the building I live in,
the condo owners are paying about seventy thousand dollars a

(01:32:52):
unit right now for the concrete restoration. They're coming into
my unit just recently and they're going to be chipping
my cement ceiling my house, in my living room and
bedroom for week rebar in the concrete they're going to
be coming in there and doing that, And the condo
orders are paying seventy thousand dollars apiece now in that condo,

(01:33:14):
they're paying twelve hundred dollars for their regular condo monthly fee.
The average person over there is probably paying one thousand
dollars a month for insurance. So between those two that's
twenty two hundred dollars a month. Yeah, right, then now
they're paying on top of that another seventy thousand dollars
and there's a good chance that that twelve hundred dollars

(01:33:36):
a month condo fee is going to go up because
of insurance costs for the long run. So there's a
lot of problems going on.

Speaker 2 (01:33:45):
I think. I think the one that really, I mean,
the insurance is hitting everybody. I feel like the one
that is just mounting more than anything. Though, as you noted,
based on redfins reports Tampa seventeen percent increase year over
year were their association fees with Palm Beach at twelve

(01:34:05):
percent and you.

Speaker 3 (01:34:05):
Said, what was it Lauderdale at sixteen? Yep, good memory.

Speaker 2 (01:34:09):
What matters? Yes, that number matters. But when I'm consuming that,
the first thing I think is when were your last increases?
Like you probably went a decade where you were voting
against raising it. Like if you incrementally increase the year

(01:34:32):
over year, you take these little ouches and you control
the coffers and you plan for the future, it doesn't
hit you at a seventeen percent year over year. So
like that number staggering, But how when was your last increase,
what was your last assessments? Like how long did you
kick the can? And I'm glad to hear you saying
it several times in the explanation, how they're not going

(01:34:56):
to allow it the states, like you guys can't do
this anymore. These condos so were poorly managed? Highlighter run
a highlighter or how poorly managed they were? Not all
of them, clearly, not all of them, but bloody so
poorly managed for so long it's almost criminal in a way.
It feels almost criminal. But the people that live in

(01:35:19):
the association, they've vote these people in power, and they
don't hold their feet to the fire. Why they don't
want to spend more than they have to. They're just
as that fault. I have a ton of empathy for
these people. But man, personal responsibility is not a thing anymore.
It's gone away for the last quarter of a century.
It just goes further and further away. And my God,
is a wonderful example of people going, well what about me?

(01:35:41):
It's like, well what about you? You should have stepped
in ten years ago and been like, whoa, what are
we doing? How do we keep the same fees for
a year after year when we have assessments coming.

Speaker 4 (01:35:53):
I was going to ask that because I thought that
that was going to be the fourth whamie, which was
we weren't keeping up with at all dociation fees, right,
And I often thought that one of the reasons that
was because the people that are on the homeowners' association
boards or you know, whatever you want to call it,
that type of a group also live there. So they
don't want to vote like you just said, Jo, they.

Speaker 5 (01:36:15):
Don't want to be popular. They don't want to be unpopular,
you know, they're voted like a politician. They don't want
to be unpopular and say, hey, I'm the one that's
going to give you the bad news, and I'm going
to stand up to do the right thing.

Speaker 4 (01:36:27):
And it affects their own well, so they would be
raising it on themselves as well.

Speaker 3 (01:36:33):
Isn't that a conflict of interest?

Speaker 5 (01:36:34):
Well, it's a good point, Jimmy, Jimothy. They they just
also changed some state regulation that when you become a
condo board member, you have to get specialized training now
to understand financing and your obligations under these new state laws,
which they didn't have before you got into the condo
board and you're just on your own conduct. Yeah, and

(01:36:56):
you're hoping you're going to be guided correctly by the
property man companies, But let me tell.

Speaker 2 (01:37:01):
You, you have no expertise or training at all. You just
get voted in because you're popular or the only one
that wants the position right.

Speaker 5 (01:37:07):
And then what happens is is they rely on the
property manching companies. And that's a whole nother thing because
the property manching companies, I have rarely found good property
manage to companies in Florida that really want to deal
with stuff. It's like everything to them seems like a
headache and aggravation. They don't respond properly, in my opinion,
to things that they're legally required as being the property manager. Like,

(01:37:30):
for example, if I'm trying to sell a house or
condo and we need to give certain condo documents to
the buyer so they can go through all this stuff
to make sure they want to buy. If the owners
don't have those condo documents, it's usually hell trying to
get those condo documents from the property manager, and then

(01:37:50):
the owners get mad at the realtors. Why can't you
get them for me? That's your job, right, I go,
because your property manager won't respond to me because I'm
not the owner of the property. You have to make
this stink in order to get it. And when you
call them and ask them for this stuff, these laws
have been in effect for years and years, and they
act like they never heard that they have to give this.
I go. You know, you're screwing over your owner of

(01:38:12):
the condo by not giving us those documents because they
have a legal obligation to give them to the Bary Act.

Speaker 2 (01:38:17):
They act like an has never been sold. Yeah, exactly.

Speaker 5 (01:38:21):
Anyway, first a.

Speaker 2 (01:38:22):
Sale in your association said you've been there.

Speaker 5 (01:38:25):
But so there are new regulations Jimothy to try to
curtail some of that stuff. So let me go into
the good news real quick, and then we're going to
go into the crazy news. Okay, so we already talked
about the bad So here's the good news. And it's
only for one community. Okay, So it's one community there.

Speaker 2 (01:38:43):
Real quick though, So the dollar sales, clearly that's because
of cost.

Speaker 5 (01:38:48):
We're going to get there. Oh, okay, we're gonna get there.

Speaker 2 (01:38:51):
It was brought up. There is gonna be a reason
why it's coming around.

Speaker 5 (01:38:57):
They sold for a dollar, I want to Yeah, obviously
I wanted to get in to that, So I want
to get into the good news just really quick first.
So there was a community in Springbrook Gardens, which is
an intercasural community in Fort Lauderdale, that on September twenty sixth,
they ordered everybody, like very fast to say get out
of this building. We think the city engineers or city

(01:39:19):
inspectors were afraid it was going to collapse like surfside.
What happened was they were doing their structural engineering stuff
and they were working on it, and when the city
inspectors came in, they found out that there was a
lot of salt erosion in the foundation and a lot
of salt erosion in the foundation, and they were afraid
it was going to collapse while they were working on it,

(01:39:41):
so they pulled all people out. Now, I had a
hard time finding any sales for this because I wanted
to see if there's any issues with the sales. But
there's only eighteen units in this community, so there hasn't
really been a sale since twenty twenty one. But all
eighteen condo owners were taken out of the building and
they were staying at a hotel and people's houses, and

(01:40:02):
what they found out was the city, the condo board
work with the city, but they got a second opinion
from another engineering company that came in and did another report, saying, look,
we need to do the concrete restoration here. There are
foundation issues, but we don't believe that the people have
to be taken out of the unit while we're doing it.
We don't believe it will collapse. The city agreed, and

(01:40:26):
this week they were allowed to come back in. So
they all came back in. A couple of people.

Speaker 3 (01:40:33):
Didn't sound like that though. It sounds like somebody greased
the right poms.

Speaker 5 (01:40:37):
Well, all I can tell you I kind of had
the same feeling. But I can tell you this the
people that did move in. One of the quotes I
read in one of the local pape papers was one
of the people said I was so happy I could
cry so meaning that they were able to come back
to their home.

Speaker 2 (01:40:51):
Sure, well, you're told something that you prefer to hear
versus something else. But it's like, well, why hired this
company if we're not going to go on what they say.

Speaker 5 (01:41:00):
Well, there is a reason for that. I'm going to
be real. Engineers have a very high standard to have
a very high standard with the state that if they
put something down in a report on anything, because I've
had to deal with this as an investor when I
was flipping homes, their licenses on the line every time
they do a report and talking about this stuff rightfully.

(01:41:20):
So so some of them have been super overly cautious
because of surf side. So they were bringing in people
for second opinion, which is becoming more common because some
of them are so worried that they rather super err
on the side of caution, like too much and went overboard.
I'm not saying that that's true or not in this example,
but that's the theory behind it. But that's enough of

(01:41:42):
the good news. Let's get to the crazy news. Why
would anybody sell their condo, a perfectly good condo for
a dollar, right, So what's going on is is what's
going on is there's a community called Hunter's Run in
Point and Beach, and I'm like joking that it should
be called Hunters Run Away right now because everybody's fleeting

(01:42:06):
over there. So I checked for condos in that general
area of Hunters Run, which is basically on if I'm
not mistaken, it's between Congress and Military. It's a very
large community between Congress and Military east and west and
right off of either Woolbright or Point In Beach Boulevard.

(01:42:26):
But it goes all the way from Congress all the
way west to Military. It's a very big community. It's
a mix of town homes, villas, condos, nice Hunters Run.
There were one hundred and twelve twelve condos for sale
in that general area, not just Hunter Runs, but the
surrounding communities. Out of the one hundred and twelve homes

(01:42:47):
for sale, eighty seven of them are in Hunters Run.
And let's go to the lowest price.

Speaker 2 (01:42:54):
Now.

Speaker 5 (01:42:54):
Out of the eighty seven the lowest price Hunting Run
right now, there are one, two, three, four. There are
four homes for sale for one thousand dollars. There's one
for three thousand, there's another three for five thousand, and
there's another five or six for ten thousand. And the
most expensive home in Hunters Run right now is is

(01:43:16):
one point five nine to nine million, right because there's
million dollars people in this community, because it's a golf community.

Speaker 2 (01:43:24):
Wait range wait, wait, wait wait, this is the house
that's going for a million, The same style house as
the one that's going for three thousand.

Speaker 5 (01:43:32):
No, there are different types, and there's two there's two
communities in there that seem to be really hurting, really
bad because there's a lot of subdivisions south Point Southport
at Hunters Run and Stratford at Hunters Run. These are
like fourteen hundred square foot units, two bedroom, two bath.
Those are the ones that seem to be in the
biggest trouble and what Hunters Run just did and the

(01:43:53):
reason why everybody's selling the unit for so lo. When
they bought, they usually had to pay about eighty five thousand,
thirty five to eighty five thirty five thousand to fifty
thousand just to move into the community. So if you
bought a house for two hundred thousand ten years ago,
you'd also have to pay fifty thousand community and that
was supposed to not a membership. It's like to buy

(01:44:14):
into the community. The membership is separate. Then you got
to pay a nature condo fee and a membership fee.
So that fifty thousand dollars or at least part of it,
was supposed to come back to you when you sold.
But because they owe forty seven million in repairs for
this triple whammy thing we've been talking about. They decided,
they voted eighty percent of the residents voted, just keep

(01:44:35):
the money. We don't want the money back because if
they didn't do that, everybody was going to be assessed
thirty thousand dollars per unit across the community to make
up the difference.

Speaker 2 (01:44:44):
So they're like, just keep the money that we already
gave you.

Speaker 5 (01:44:47):
And a lot of people were very freaked out because
now the membership just to buy into the community. When
you buy into it, you got to pay eighty five
thousand dollars just to move into the community. So if
you pay one dollar for the property, paying another eighty
five thousand to the community for the luxury of moving in,
and then you got a membership fee about twelve hundred

(01:45:08):
dollars a month for these two communities.

Speaker 2 (01:45:10):
It's not an annual thing, it's a month.

Speaker 5 (01:45:12):
That's a twelve hundred dollars monthly fee. And then on
top of it, you have to either buy a golf membership,
a social membership, or something like that. So the minimum
is like twenty four thousand dollars per year. You got
to pay just for the social membership. If you got
a golf membership, you might be paying thirty five forty
every single year on top of the twelve hundred dollars
a month. Huh right, plus that money you got to

(01:45:35):
do to come in. That's why some of these units.

Speaker 2 (01:45:38):
At some point, you're going to be paying people to
take you in.

Speaker 5 (01:45:41):
Yep, that's why some I know, Well that's what's happening.
So people are people are buying the places for like
a dollar to one thousand dollars.

Speaker 2 (01:45:50):
No, at some point they're going to be like, I'll
give you five hundred dollars to come and take this place.

Speaker 5 (01:45:54):
Well, a dollar, somebody closes it a dollar. In June,
somebody bought one of these for one dollar in How
crazy is that?

Speaker 2 (01:46:01):
Yeah, No, I'm saying as the seller be like, I'm
going to pay you five hundred dollars to come take
my car.

Speaker 5 (01:46:07):
Yeah exactly, But exactly.

Speaker 4 (01:46:09):
The idea is that they just wanted to get out
of it. They just wanted to get to leave.

Speaker 5 (01:46:14):
A lot of the people are fleeing because they don't
see any No, they can't see the bleeding stopping, and
a lot of them can't afford it.

Speaker 4 (01:46:23):
Like whatever equity they had, whatever they've already paid into it.
They're just like, I'm God, I just want to get
out of it.

Speaker 5 (01:46:29):
So there's one hundred, there's eighty seven people out there,
and out of the eighty seven, out of the eighty seven,
thirteen of them are ten thousand dollars or less. And
a lot of the ones that were offering to buy
offering their house at ten thousand, they're closing it like

(01:46:49):
three thousand, two thousand. But one person was so done
they did it for a dollar dollar.

Speaker 2 (01:46:54):
Wow.

Speaker 5 (01:46:56):
The commissions that are being made on these deals are
more than the house. This is the purchase price for
the house.

Speaker 2 (01:47:01):
Wow. Desperate times really due, call for desperate measures.

Speaker 5 (01:47:05):
Okay, is that crazy or what it really truly is? Well,
I think we wrapped up another show. Johnny and Jimothy.
Thanks for playing hurt today with our lack of people here.

Speaker 2 (01:47:16):
Yeah, no pain, pog. I appreciate with thanks for riding
along on a Saturday. We will be back at it
next Saturday. Florida Talk Real Estate here on Real Radio
every Saturday for two hours of infertainment. I heard Greek
over there a little bit ago as well. So locker
rooms getting ready to fire up. Always remember Florida Talk
real Estate is a dot com buying a home, selling

(01:47:36):
a home, stuck with a home, you don't know what
to do anything that touches the world of real estate.
We got a professional for you and a team of
professionals that work cohesively together. Experience it for yourself. Florida
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Share it on Facebook and YouTube. Get some Florida Talk
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never know when you can change lives with Florida Talkreestate

(01:47:58):
dot com. Jimithy, have it rest of your weekend.

Speaker 3 (01:48:00):
You was well, Johnny. Jim, you have a great weekend too,
and thank you for listening.

Speaker 2 (01:48:04):
Yes, very much. We appreciate you yet, Jimmy D I
hope you have a great rest of your weekend. My friend.

Speaker 5 (01:48:10):
Oh, thank you. I thought you were saying I thought
you were smoth. Yeah, you guys have a great day.
Stay dry, yeah, please big things, stay dry.

Speaker 2 (01:48:17):
Stay bring an umbrella. Uh we got locker room coming up.
Make sure you're tuned in and we'll be back next Saturday.
Florida Talk real Estate. Right he on Real on Radio