Open house. Shout outs. Condo relief. Interest rates

Episode Transcript

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

Speaker 2 (00:36):
Yeah, good Saturday morning. So you welcome to another edition.

Speaker 3 (00:39):
It's Florida Talk real Estate and we got you for
the next two hours of info attainment ninety two one
one one seven.

Speaker 2 (00:45):
Thanks for being there, of course.

Speaker 3 (00:47):
If you're using your free download your iHeartRadio app, that's amazing.
And by the way, you could be like worldwide on
that maybe in Ireland or somewhere like that. I'm just saying,
possibly it works. That's a remarkable thing. And we live
stream on this Saturday.

Speaker 2 (01:02):
Great to have you with us.

Speaker 3 (01:03):
If you're on Facebook, Florida Talk real Estate on Facebook
on YouTube as well, that's Florida Talk real Estate, LLC.
Home of a ton of informational chunk videos plus a
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not you can find your way over there and join
that stream. Check out a few beautiful faces and maybe
one that's not so you determine that's one of those.

Speaker 2 (01:23):
Like choose your own adventure situations right there. Yeah, you
can dial in as well.

Speaker 3 (01:28):
Be part of the program toll free eight seven seven
nine two seven six nine six nine questions, comments, concerns
in the world of real estate. You want to dive
into the conversation and do it first voice you hear,
there's my brother from another mother, our producer Extraordinaiir Jimmithy,
what's up dude?

Speaker 4 (01:42):
Hello, Hello, and good morning gentlemen. Happy to be here
with you on a Saturday. Nice day out too.

Speaker 2 (01:46):
Oho it is Yeah, that's yeah, it's bonus bonus bonus. Yeah,
good to see as always. Do see you as well, Johnny,
Thank you, Jimmy.

Speaker 3 (01:53):
They gave me an awesome gift out of nowhere today
and I will share it with you guys in a second.

Speaker 2 (01:57):
After I give you some introductions, I'm your.

Speaker 3 (01:59):
Old buddy Kyle Johnny Ce Mike Row, the mortgage guy
from the mortgage firm, starts the very important portion here,
which portion the introduction to the introductions of our amazing team.

Speaker 5 (02:10):
Yeah, good morning to you. Jimothy gave me a surprise
today too. Huh, okay, you got a little sloppy second.

Speaker 2 (02:16):
I might have. I love it though, Oh sorry. If
if it's the same, you're blessed.

Speaker 6 (02:25):
He goes, how's things, How's life?

Speaker 5 (02:27):
And I'm like, good, and it's a beautiful day out right,
we got that going for us, right, it's gorgeous, gorgeous morning.

Speaker 6 (02:33):
I was thinking.

Speaker 5 (02:33):
I was telling him that Tiffany, my Tiffany, her sister's
up in PA and they woke up to a couple of.

Speaker 6 (02:38):
Inches of snow this morning, cool, little cold.

Speaker 5 (02:42):
Yeah, so nice. I'm doing well, thank you, good Hi everybody.
I can't wait to hear what you got.

Speaker 2 (02:47):
By the way, I got nothing, because damn because if
you got what I got, it's awesome.

Speaker 6 (02:52):
No, no, no, My gift was Jimithy opening the door
and his smile.

Speaker 5 (02:56):
You know, well, I do get that every Saturday. We're
lucky he's not on the in the face competition.

Speaker 3 (03:02):
Well now, because then I'd like take me off, please,
that's not fair.

Speaker 2 (03:05):
This is ridiculous.

Speaker 6 (03:07):
Hey, amateurs, only we.

Speaker 3 (03:10):
Ran out of music. But normally there's a band under me.
When I tell you that our fearless leader is here
as well. He's a run at top producing Calo Williams
team for well, I told you for thirteen plus years
now Caller Williams Innovations.

Speaker 2 (03:21):
I find the Florida Home Pro's team. This is Jimmy
d jim How you.

Speaker 7 (03:24):
Be hey, happy South Florida.

Speaker 8 (03:26):
I think it's about to snow down here at sixty
six in April.

Speaker 2 (03:29):
You know it might happen?

Speaker 8 (03:30):
Oh right, right, Hey, I think what Jimmy gave Johnny
needs antibiotics.

Speaker 2 (03:37):
Oh did you get it?

Speaker 7 (03:47):
I turned it down and said nothing.

Speaker 6 (03:50):
I thought that was dormant for you.

Speaker 4 (03:52):
Well, I've been working out of a certain time Florida.

Speaker 3 (03:57):
They call it non detectable.

Speaker 2 (04:02):
It's like, well it's still there though, right, I mean.

Speaker 6 (04:05):
Not a trace.

Speaker 2 (04:07):
What are you gonna do? Yeah, So.

Speaker 3 (04:11):
Over COVID, I think a lot of people may have
become familiar with a text or something that might come
at you with this guy. His name was Wardy, very
extravted Wardy w R d Y.

Speaker 2 (04:26):
So I looked into who this guy was.

Speaker 3 (04:28):
Unfortunately he passed away some time ago, but he was
a I guess he did a naked calendar shoot for
like a fundraiser thing for like a firefighter thing, and.

Speaker 2 (04:39):
It made its way around the world.

Speaker 6 (04:42):
It went out viral.

Speaker 3 (04:43):
Yeah, huge black gentleman. Huge in every way. He is
just I mean he spent some time in the gym.
Let's put it that way.

Speaker 2 (04:52):
Yeah.

Speaker 3 (04:52):
Yeah, he's a monster sitting on the edge of the bed.
You may have seen it.

Speaker 2 (04:56):
It may have come across your plate. Yeah.

Speaker 6 (04:58):
The guy's sitting on the edge of the bed.

Speaker 2 (04:59):
Yeah yeah, yeah, with no clothes on. Yeah, okay, I
loved it.

Speaker 3 (05:05):
It was So if you've got it, you have really
cool friends, or your friends are probably people I should
know because I love your people. That's if you're being
sent that I love you.

Speaker 2 (05:16):
I love your people. That's just.

Speaker 5 (05:18):
It would be something like Jim, you get a text
and be like, oh, check out this article and real estate,
and you click it, and then this guy.

Speaker 7 (05:25):
Wardy and all his glory.

Speaker 3 (05:28):
Yes, and I have seen it in every possible delivery.

Speaker 5 (05:33):
Listen, if you're out there listening to us, Jim doesn't
know what this is, so you can if you have
Jim in your cell phone, attack you know.

Speaker 3 (05:42):
I'm going to make sure you see Wardy in a
bunch of different ways, now, Jim, because.

Speaker 7 (05:46):
You've never experienced, never heard of this, Actually, I'm sure
you have.

Speaker 4 (05:49):
You just you know, even in the text that we
go back and forth with, you know, members of the show,
where every now and then I think we sprinkled it
in a way or another, but usually in the aftermath,
Like you know, Johnny and I were talking about it.
When that first came out, it was an internet joke sensation.

Speaker 9 (06:08):
I mean everywhere you turned it was.

Speaker 4 (06:10):
Now it's just kind of peppered in here and air
right and and somebody will send a picture and it'll
be like the blue sky right and some clouds and
you don't think, like what' what is it?

Speaker 6 (06:18):
And then you can make you zoom in.

Speaker 4 (06:20):
One of the clouds is the shape of ward It's
not dirty, I'm guilty of that. He had a guy
who had a bruise on his arm. So if you
zoomed in on his bruise.

Speaker 3 (06:34):
In the smoke and the fires in l A's like
it just turned into so it. Well, this morning, Jimathy
comes out, he's got this big grin on his face
and he found these Wardy stickers.

Speaker 2 (06:45):
Now they're little, just all black like.

Speaker 3 (06:48):
You if you see the silhouette and you know it,
you know it, but it just it puts so much
joy in my life. And you may, if you know me,
you may have one of these hiding on your car somewhere.

Speaker 6 (07:00):
Level other stickers.

Speaker 5 (07:04):
Yeah, yeah, like a bumper stick cows yea more dcli Yeah.
Oh jeez, it's so beautiful. I mean, you got Timothy
a few eight.

Speaker 2 (07:12):
Seven seven nineteen seven six nine six nine.

Speaker 3 (07:15):
Not to start a warding conversation, but I just had
to share that joy with you guys, especially.

Speaker 2 (07:19):
If you if you get it, isn't that beautiful?

Speaker 5 (07:23):
You know what's funny is I'm fair. I know exactly
what it is, but I never knew the name, so
I went.

Speaker 3 (07:28):
I really fell in love with it. It got to
the point where if you were like in my regular
you were like, man, I'm not clicking anything right. Yeah,
I'm exactly. I was, because people would just say they
knew it, so I would get all the variations, so
I would send it.

Speaker 6 (07:43):
It's like a It's like a modern version of getting
Rick rolled.

Speaker 2 (07:47):
Essentially perfect, really truly in an awesome way. Sorry to
reel the show, Jimmy, No, that's no.

Speaker 7 (07:54):
No, I'm happy. Do we have Chris on the phone?

Speaker 2 (07:57):
We do have.

Speaker 4 (07:58):
Yeah, Chris is calling in to talk about it open house,
So just let me know when you want to throw
it his way.

Speaker 8 (08:02):
Yeah, let's go ahead and roll right into the open
house for this Saturday.

Speaker 2 (08:05):
How about that sounds great?

Speaker 9 (08:06):
You go, Chris, you're on the air or where's your
open house buddy?

Speaker 10 (08:10):
Good morning gentlemen. Hey, so the open house today is
at five Dandy Place in Boytony Beach. We've got a
great little three bedroom, two bathroom house. It's a cute
little neighborhood on a could to stack at a really
quiet calm area there. So it's going to be a

(08:31):
good day.

Speaker 7 (08:32):
Yes, it is.

Speaker 8 (08:33):
It is, Chris, Thank you so much for doing the
open house today. It is a really nice home. And
it's hard to find houses with brand new roofs, three veterroom,
two baths, single family home low h aay under five
hundred thousand dollars. So like this is like if somebody's
looking for a single family home and they're saying they
can't afford it in Palm Beach County, there's plenty of

(08:56):
places where you can find the deals if you have
the right and this is a great neighborhood, right, Chris.
I mean this isn't in some kind of high crime
neighborhood where you're worried about walking out your door or something, right.

Speaker 10 (09:09):
Not at all.

Speaker 7 (09:10):
No.

Speaker 10 (09:10):
I think this is one of those hidden gym neighborhoods.
You don't really realize it's there, and then you get
in there and you're driving around and wow, this is
really cute. It's so calm. There's multiple parks, the community
has a couple of swimming pools that are just a
quick couple minute walk away from the house. So yeah,
it's really a fantastic little neighborhood. And then the other

(09:31):
part about it too, which is really nice, is you've
got within a few minutes, you've got your public grocery store,
you've got a variety of great restaurants, and everything is
just super close. And you're just a few minutes off
of ninety five too, so if you need to get
out of town, you've got quick access as well.

Speaker 7 (09:49):
Yep.

Speaker 8 (09:49):
And this house is about fourteen hundred square feet under
air and it's nineteen under roof. One of the things
I really like about this is that the living it has,
the you know, the formal dining room, living room inside
the house. But they have this huge enclosed sunroom that's
air conditioned through separate air conditioning, not through the central air.

(10:12):
But it's really large and the sunroom is awesome in
the backyard and their unit they're part I'm sorry, their
lot faces the back of a green space area, so
you're not like looking over neighbors and stuff like that.
You have some green space. I could see you sitting
out sipping a cup of coffee in the morning before

(10:33):
getting over to work or coming home.

Speaker 7 (10:34):
And having that. And Chris is right right out that
back door. Out of that sunroom.

Speaker 8 (10:39):
You just walk a few steps, well a little more
than a few steps, but you know, less than a
half a block away or something. Are one of the
community pools. And there's two community pools in here. And
I'm looking right now in the h OA is you know,
under four hundred and this house has a twenty twenty five, right,

(11:00):
So if you're worried about like future insurance, really don't
have to in the houses in excellent, excellent condition. It
has some upgraded it has upgraded appliances, and it's got
to remodeled master bath. It's one of those walk in baths, Mike,
have you ever seen those where you kind of like,
I don't even know how those work?

Speaker 7 (11:17):
What do you do?

Speaker 8 (11:18):
You walk in and you shut the door, and then
then you turn on the water. It'sub Yeah, it's a
walk in tub.

Speaker 7 (11:24):
Yeah, I said shower, right, I'm at to say, I said.

Speaker 5 (11:27):
Bath ill Okay, yeah, but yeah, you open a door,
you get in, you close the door, its seals and
hold water.

Speaker 7 (11:34):
Then you hold the water.

Speaker 5 (11:34):
Yeah yeah, yep, it's gonna have to step into it
or you know. So when will you be there for
a little thresholder?

Speaker 2 (11:41):
Yeah?

Speaker 10 (11:41):
Yeah, yeah, So I'll be there today from eleven o'clock
until two o'clock. And I think Jim. The other thing
I wanted to point out too is a lot of
people get worried or scared about hoa's and with this
particular property, the h ooa covers the all of your
yard maintenance, cable TV, and internet. I don't know the
last time you guys looked at your cable TV and

(12:02):
internet bill, but that's two hundred dollars a month, easy.

Speaker 2 (12:05):
Right there.

Speaker 10 (12:06):
So the fact that you get all of that, plus
all of the access to the community features, the hoa
is really a it's fees that you would pay for
other services at any house as well. And and just
one more note too. In this house, what's really need
is I've never seen this before. There's sliders in the
back into the sunroom obviously, but on the in the

(12:27):
front of the house, right off the kitchen, there's another
nice set of big sliding doors. So not only do
you get the sunrise off the back porch sunscreened enclosure
in the morning, you can also sit down with bottle
of wine and watch the sun set out the other
side of the house. So it's a really unique layout

(12:47):
that's really quite nice.

Speaker 7 (12:49):
It really is. And the name of the community, Chris,
did I stop you.

Speaker 2 (12:58):
Yet?

Speaker 10 (12:58):
You stop me? I I know this, but you caught
me off guard.

Speaker 7 (13:03):
That's funny. I didn't mean to do that to you, Chris.
It's it's Pointed Lakes. It's Point Lakes.

Speaker 8 (13:10):
I think this is actually the state of Point Lakes,
but I'm not sure. But it's in Point Lakes, which
is a very well known community out out over in
Point Beach. So if you want to go out take
a look at that house today. It's a really good value.
And when I say under five hundred thousand. I didn't
actually say the price. I wasn't trying to hide it
only four hundred and sixty thousand dollars, So it isn't

(13:33):
like it's at four ninety nine, right, This is like,
well under five hundred thousand, ready to go. You can
move into this house. You don't really have to do
anything to move in. If you wanted updated, you could,
you know, you could do some of that. It has
a really nice oversized garage. They use it for a
billiard room right now. They use it for billion room
the owners right now. So please go out and meet

(13:55):
Chris out there from eleven to two and also Haley
Marguerite all So from our office, kW Innovations is going
to be there helping Chris for that open house.

Speaker 7 (14:06):
What tip from eleven o'clock to two.

Speaker 8 (14:09):
O'clock today at five dan By Danby is d a
n B y. People on Facebook and YouTube might have
seen a little bit of me trying to screen share
the photos of the property, but I'm not sure it
came out very well. So if you want to check
it out, just go to Florida Talk real Estate on
Facebook and you can find out more information about the

(14:29):
property before you head out there.

Speaker 2 (14:30):
Excellent.

Speaker 7 (14:31):
Okay, Well, Chris, can you do me a favor? Sell
that house. Let's go, okay, let's sell it, sell that house. Okay,
let's make a movie, will do okay?

Speaker 3 (14:41):
Man, thank you very much. Yeah, Man, have a great
dict there. Thanks for the focal sell you, Chris.

Speaker 8 (14:47):
Oh I forgot I should have congratulated Chris. Chris put
his first deal under contract ever as a realtor. Nice
he had He had a friend that wanted to buy
like a to tear I call it. I know I'm
not saying it right because I'm not French, But isn't
it pere to tear?

Speaker 7 (15:05):
If he said that before?

Speaker 6 (15:06):
And I had to look it up? Yeah, what did
it mean? It mean?

Speaker 8 (15:08):
It's like a small a small residential place that used
just to like a crash pad, Like you're not living
there full time?

Speaker 2 (15:16):
How would you listen to Hyeah? Yeah, I don't know.
But sounds good, isn't it. You don't like it?

Speaker 8 (15:24):
But yeah, So he found a really nice sack, a
one to one condo. Listen to this one one condo
one block off the beach at the Hollywood Broadwalk. So
you walk less than a block and you're on the
Broadwalk in Hollywood. Uh under two hundred fifty thousand dollars.
And the condo has done everything for the concrete restoration.

(15:46):
It's all done finished, don't have to worry about it
looking in the rear mirror. And two hundred thousand dollars
will live a half a block or a block off
the beach. That's pretty nice.

Speaker 6 (15:55):
Johnny's pretty much right on the money there.

Speaker 7 (15:57):
What's that?

Speaker 5 (15:58):
It's a It's a French term that refers to a
secondary residence, often a small apartment or house in a
city that someone uses for occasional or temporary stays.

Speaker 7 (16:06):
The city use it for what.

Speaker 5 (16:12):
Occasional or temporary stays. And Johnny, you might have missed
because you were talking what he called it, but he
was right.

Speaker 7 (16:18):
They should call it. They should just call it a like.

Speaker 6 (16:22):
Sounds like your country house.

Speaker 5 (16:24):
And then you'd work in the city and then you'd
have your you know, your city house that you could
go to, you know for lunch or little quick quick
spot after work.

Speaker 6 (16:33):
Maybe just dive in for yeah yeah yeah.

Speaker 7 (16:38):
So yeah.

Speaker 8 (16:39):
So, Uh, everybody tried to check out that open house.
Five damn be Place uh d A m B y
point in Beach, Florida and go meet Chris there eleven
to two.

Speaker 5 (16:49):
I think it's priced gym. It's not priced under five hundred.
It's priced in the mid forest. I think it qualifies
mid four hundreds.

Speaker 7 (16:55):
Right, you say that mid forest.

Speaker 5 (16:57):
What sounds better if I'm a by Yeah, mid forest
sounds better than under five.

Speaker 3 (17:03):
But bliss sound great. But I'm with you. Mid forest
sounds better than at for sixty.

Speaker 6 (17:08):
I think it does qualify in the mid forest. It's
in the middle.

Speaker 8 (17:10):
Yeah, I would say that's mid forest. I wouldn't even
say it's upper mid for mid forest. Yeah seven seven.

Speaker 6 (17:17):
Seven times upper mid seven seven seven five.

Speaker 5 (17:21):
Yeah, like you're in the mid mid forest, mid middle forest.

Speaker 8 (17:27):
Later we're going to be talking about all these statistics
when it comes to everything that happened in the mortgage
mortgage world this week.

Speaker 7 (17:34):
Oh my gosh, I got whiplash. I should have walked
in with the neck breaks.

Speaker 6 (17:39):
I got more like ear lash.

Speaker 7 (17:41):
Yeah, a lot of chatter.

Speaker 8 (17:43):
Yeah, yeah, So we're going to talk about that a
little bit later. But I just want to do some
shout outs for a Facebook and YouTube crew. Thank you
so much, Mom, thank you, Nate, thank you. He calls
all the time. I promise I'm going to call you back.
And Elaine, uh, she's checking us out all the time.
So Elaine, nice to see you again over here. Which
in all of you guys are happy, happy Saturday, and

(18:05):
try to like and share the stuff on Facebook and
YouTube to let other people know about us. Wanted to
talk a little bit about a couple of shout outs,
but also some teachable moments. I call this segment sellers
seller buyers everywhere. Like it, seller buyers everywhere, because that's

(18:27):
happening a lot right now, where people are selling their
house and then either downsizing, upsizing, getting out of state sizing.

Speaker 3 (18:37):
Sell Buyers in particular need the proceeds from the sale
of their home.

Speaker 2 (18:41):
Right. That's off, We're gonna go seller buyer.

Speaker 7 (18:44):
Right.

Speaker 8 (18:45):
Seller buyer means I need the money from the sale
of my house to buy the new home. And Jim,
don't make me homeless. Right, So that's the whole thing
that you don't want to have that gap, or you
want a manageable gap at the very most. I did
make somebody homeless again this week. Remember last week I
made the I made Daniel and Lynn homeless over that. Yeah, yeah, yeah,

(19:07):
because I didn't have the key. I didn't I locked
the bottom lock on the key when we were and
nobody told you that we didn't have a different.

Speaker 6 (19:16):
Key for that lot, don't lock that one.

Speaker 8 (19:19):
I made them homeless. Well, I made I made.

Speaker 5 (19:22):
The seller's responsibility to sort out the key situation, like
I would think, here's a key for each lock.

Speaker 8 (19:28):
Well, technically the sellers are supposed to insend me as
this contract where the sellers are supposed to give all
keys to the property. So if you have a different
key for the front door then your side door in
the garage, you need to give both keys. And if
you have an open garage store opener, you must give
the code or whatever a garage store opener actually clicker, right,

(19:50):
So you're supposed to do all that. We're always hyper
about that with our listings, where we actually make you
sign a form. Not only do we make you sign
a form, but it's actually in the listing agreement saying
you will do this. You will provide keys and clickers.
And if you're in a community, if you have a
gate pass to get in, or pool keys or mailbox keys,

(20:12):
you've got to give all the keys. You can't just say, oh,
you know, here's one key to the house. Figure everything
else yourself here.

Speaker 5 (20:20):
Now you can definitely say we haven't had that key
for I don't know how long.

Speaker 7 (20:23):
We just technically know what you're supposed to do.

Speaker 8 (20:26):
We put it in our things saying that if you
don't have the key, then you're going to get a
key at your cost. So if you have to rekey it,
get a new lock, not get a new lock, just
you know, just get a key. Whatever you have to do,
it's your responsibility. But not all agents do that. And
with this house, and it's kind of interesting because this
wasn't really necessarily the riilter's fault. She was pretty good

(20:47):
through the whole. Thanks she was a good relter, thank god,
Thank you Millie. But this house had the family was
very techy, so their keys were in their phones, right.
Their garage store opener was in their phone. It was
a napp in their phone, so they didn't have clicker stuff, right.
Everything was built into their phone. So they didn't really
have keys, right, They they just didn't have them. But

(21:09):
they also didn't leave us instructions of what apps they
were using for each of them.

Speaker 6 (21:14):
You got to be smart, yeah, it's it's a smart
STU smart house.

Speaker 7 (21:17):
Yes, I guess if you're not smart, you can't buy
the house.

Speaker 8 (21:22):
That's kill so uh anyway, so what uh so I
made them homeless this week?

Speaker 4 (21:29):
Say that you made them homeless because they still at home.
They just couldn't get into it.

Speaker 8 (21:32):
Yeah yeah, yeah, that's almost worse though. Imagine like buying
something you really want to get into it, but you can't.

Speaker 7 (21:40):
It's like it's like.

Speaker 5 (21:40):
Ah, worse, Like you probably you did a whole key ceremony,
you gave them the keys, you took the pictures, and
then it just happened to be the wrong key.

Speaker 6 (21:47):
Yeah, it's like yeah, right, you know you put it
in your key does not start the car.

Speaker 8 (21:56):
Hey, good morning Susan, Good morning Francis. Our crowd is
building on the show. Thank you so much. So what
happened with the seller buyers everywhere is I had two
seller buyer closings this week, right, So we had Bobby
and Becky and we had Greg and Diane, right, so
completely two different experiences.

Speaker 7 (22:13):
Okay, and.

Speaker 8 (22:15):
I got a hug yesterday when we closed, and it
made me tear up because it was such a bad
situation for this one of these two families that I
couldn't believe that they were just still so happy to
have work with me, because, let me tell you, they
went through heck and back and I can't believe what
they went through. And we did everything we could, but

(22:36):
it was a tough seller bier situation.

Speaker 7 (22:38):
Yeah, well, we didn't make anybody homeless.

Speaker 2 (22:40):
I'm sure what the hug was the you know, thanks
for riding us through that.

Speaker 7 (22:44):
It was good.

Speaker 8 (22:45):
But there were a lot of people who could have
been like just angry at the world and the whole
situation a little differently, Yeah, and then just like be
angry at me too, and they didn't. And that just
shows you the kind of people they are. So let
me tell you because you know, we always talk about
sell our buyers because I do specialize them, and there
is there is a system that you have to do
for this and if you don't do it that way,

(23:07):
you go through a lot of pain. Now let me
tell you about Greg and Diane first. So Greg and Diane,
people know I've talked about this a couple of times,
this family, because I really enjoyed working with them. We
close this week. I only met them like thirty seven
days before we closed or something.

Speaker 7 (23:24):
It was that fast.

Speaker 8 (23:25):
I think I think we sold their house in eight days,
got it under contract the day we were inspecting. The
day that people were inspecting their property to sell, we
put them under contract for a property to buy. So
within like nine days after we met, we already had
both deals inspect, under contract, both deals inspected. Both deals

(23:48):
were cash, so we didn't have any loans to deal
with or anything.

Speaker 7 (23:52):
So it was like, how fast can we close? This thing?

Speaker 5 (23:54):
Was awesome, and you guys were intentional about like waiting
to get into contract on the purchase until they're home
was under contract for well.

Speaker 8 (24:02):
With that one, what happened was Greg and Diane had
a really nice home in Coral Springs, right and they
needed to downsize. It was time to downsize, and they
wanted to be closer to their kids and grandkids who
were in pm Beach County roughly the point In area,
but they never lived in pom Beach County, and pom
Beach County then was a county that they just had
no reasons to go too much, so they didn't know

(24:23):
the area that well. So they were looking everywhere from
Pointon to Boca to Lake Worth, not sure and where.
I was pretty sure they were going to land in
Pointon because there's a lot of fifty five and over
communities that are very affordable with really good amenities. And
I know they were looking for less work around the
house because they had a pretty big lot in Coral

(24:43):
Springs and it wasn't in a nature way, and it
was a big house and there.

Speaker 7 (24:46):
Was a lot of work.

Speaker 2 (24:48):
So we.

Speaker 8 (24:51):
Had a range of what we could put their house
for and they picked the middle range, which I think
was very smart for them because they understood that they
needed It was very important for them to get a
buyer so they can lock in the house that they
wanted when they found their dream home, right. Yeah, So
what happened with them. They put their house on the
middle of the market and we got a decent even

(25:13):
when it was a little bit slow at that point.
This is about a month and a half ago. They
were starting to get some showings and we didn't really
have that many, and somebody came in right away and
wanted to buy the house cash, so that was awesome. Now,
the week we put the house on the market, we
went looking too and we must have looked at five
or six homes. I think I'm guessing, And there were

(25:35):
a couple they liked, but nothing that they were in
love with. But there was maybe one that they wanted
to put an offer on, but the roof was very
old and they didn't want to deal with an older
roof and the house wasn't under contract jets, so they
wanted to wait. Well, the house went in a contract
almost immediately after that. Then we went out to a
new group of houses and they found the D One.

Speaker 7 (25:56):
It was awesome.

Speaker 6 (25:57):
Ended up buying.

Speaker 8 (25:58):
Yes, it was D one, and it was like as
soon as they walked in, the layout was perfect form.
They loved the community because some of the community they
were driving around, They're like, I like the house, not
the community. This community was great, had a low h away,
it's centrally located in Point and tons of shopping around
there and everything foreign to make things convenient.

Speaker 7 (26:17):
And here's the best part.

Speaker 8 (26:19):
The people bought it like during COVID or maybe twenty
two or something like that, and they were living someplace
else and they moved down here and bought this house
just to basically be down here for COVID. So they
brought it in an interior designer and the interior designed
the whole place with all the furniture, the knickknacks, the paintings,
everything was looked like an interior lighter came in and

(26:42):
did everything. They left all the furniture with the house.
The whole house was completely furnished super mac Daddy, and
they left everything there.

Speaker 7 (26:51):
As part of the Podio deal.

Speaker 2 (26:53):
Wow.

Speaker 8 (26:54):
And they left the paintings on the wall, the knick
knacks on the shelves and the counter and everything is crazy.

Speaker 7 (27:02):
Yeah, And so it was a really really great experience
for them.

Speaker 2 (27:08):
That's amazing.

Speaker 7 (27:09):
Now Diane called me up.

Speaker 8 (27:10):
Diane is the woman that I made fun of on
the show and then apologized. Remember, because I did apologize
a couple of weeks ago. To Diane. She was very
concerned because she's the seller buyer. She was very concerned, Well,
what happens if one of the deals falls apart? Am
I going to be trapped where I could lose my
deposit for the house I'm putting on if the house,

(27:32):
if my house doesn't close, or what happens if my
house closes and for some reason the other deal's going
to fall apart and I have no place to live?
Very real, legit concerns right. But what I explained to Diane,
your cash, You've done the inspections, everything's pretty much done
on both houses. The only thing we have to do
is get you through the HOA in your community and

(27:54):
make sure the title clear is on both houses.

Speaker 7 (27:56):
And we're done. Your house.

Speaker 8 (27:58):
You've lived there twenty years. You're gonna know if you
have any title issues, right, hopefully right, most people would know.
And then on the sales side, they only owned the
house for a couple of years, so it had already done
title just a couple of years ago. So chances are
I mean, there always could be a problem, a chance
or that's not going to happen.

Speaker 2 (28:17):
So I was.

Speaker 8 (28:18):
Joking with them and saying, Diane, don't worry about this.
And then I said, well, if you want to worry, Diane,
let's really worry. The house could go blow up. I said,
the house could blow up, or your house could catch fire. Right,
And I was bringing up all these crazy ideas, and
then a week later, I'm manifesting. A week later, I'm
doing show prep and I read an article that some
house in Brodeberg, Ohio blew up, blew up while it

(28:42):
was pending. While it was pending because there was a
gas leak and it.

Speaker 7 (28:48):
Obliterated the house.

Speaker 8 (28:49):
I mean there was nothing left right, And then I
was like, oh, and I'm teasing Diane about what she
could worry about. And I actually use that example. It's like,
what are you going to worry about the house blowing up?
So I don't say that anymore?

Speaker 2 (29:01):
Ye got me?

Speaker 5 (29:01):
So you say it one hundred times, but that one
time at the house blows up and you're like, oh, yeah,
brought this into exist.

Speaker 2 (29:08):
So that's the example I brought up.

Speaker 8 (29:10):
So when they closed, they were really happy because they
did electronic signings. So I wasn't actually the there the
day they closed. I was there when they signed, but
we closed. We signed on a Friday. They closed on
a Monday. Yeah, so everything was done on Monday. They
were just waiting for the money to be wired everywhere.

Speaker 7 (29:27):
So this is how it works.

Speaker 5 (29:28):
They called that iron closing these days. What's that remote
online notary?

Speaker 2 (29:32):
Oh?

Speaker 7 (29:33):
I didn't know that.

Speaker 5 (29:33):
So you have notarized documents and that's usually like any
of the notarized documents are typically they have to be
done in person. So things like well and when your
financed the promisory note, the mortgage. But the you know,
the the d documents are notarized. So but yeah, you're
able to do online notary.

Speaker 7 (29:53):
Wow, ron, I never heard of that before. I learned
something to do.

Speaker 5 (29:56):
That with, like you know your your you have video there,
able to see your driver's license, there's a witness.

Speaker 7 (30:03):
That's pretty cool.

Speaker 6 (30:04):
Yeah.

Speaker 8 (30:05):
So with Diane, when we closed, she called me back
or I called her later that day to say congratulations.
It was really late. I called her like eight o'clock
at night, and she goes, Jim, you made us homeless.
You made us homeless. She was joking, right, And I'm like,
I did what happened? She goes, it took us thirty
minutes to get the keys. We didn't have a place

(30:26):
to live for thirty minutes.

Speaker 7 (30:29):
I was laughing about that.

Speaker 8 (30:30):
But for a week they were living, they shot me
a picture because they had to sell all their stuff
because they were getting brand new stuff in their house.
So for like a few days, maybe a week, they
were living on camping chairs. All they had was their
bedroom set and two foldable camping chairs with one of
those circular foldable tables.

Speaker 7 (30:50):
Yeah, and that's all they had in their house. Right. Well,
we were waiting to move into their other house.

Speaker 6 (30:55):
I think I could do that for a couple of days.

Speaker 11 (30:58):
Yeah, especially if you're living there twenty year, and especially
when you're living there twenty years, so you could reflect
to all the things that it was probably very cool
for that anyway.

Speaker 8 (31:10):
Congratulations. That was the perfect seller buyer deal, right. The
money was wired in case people wonder how it happens
the seller the buyers on the purchase of Greg and
Diane's home put you know, closed in the morning. The
money was in the bank account with the title company
for that closing. Then that title company was already pre

(31:31):
instructed send the money over to the other title company
so that Greg and Diane could pay cash for their.

Speaker 7 (31:37):
For their house. So that's how it all worked perfect.
Thank you so much.

Speaker 8 (31:42):
Hopefully we're going to actually have Greg and Diane on
the show one day and actually talk about their seller
buyer experience. Now I want to do a shout out
to well, let's take a break because it's nine thirty,
and then we're going to do a shout out to
Bobby and Becky. Now, Bobby and Becky closed yesterday, but
they did not have the same experience. And I always
try to be transparent with people on the show to

(32:04):
show what could happen. It wasn't the worst experience ever
because it did close, but we did not have the
same experience and we just want to show you the difference.

Speaker 2 (32:12):
All right, very good. Every situation is like a snowfa
everyone's different.

Speaker 3 (32:15):
Yeah, very unique, and you got to have pros pros
when you're going through very unique situations, some very smooth,
some not so smooth, and if you're being led by
somebody that is an expert in their field, it can
be the best that it can be for you. That's
why we encourage you to go to floridatalkreal estate dot
com looking to buy a home, sell home. You're stuck

(32:35):
with a home, you don't know what to do. Floridatokre
estate dot com is a team of prospros to get
done what you're trying to get done, the way that
you're hoping to get or done. Know what I'm talking about,
That's what I'm talking about. No what use it, love
it shared, It's floridatokreal estate dot com. We're back in
four minutes. Thanks for being with us every Saturday, Florida
Talk real Estate, Right here. It's real Radio.

Speaker 1 (33:07):
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 3 (33:17):
Yeah, eight seven seven nine two seven six nine six nine.

Speaker 2 (33:21):
That is toll free. We are live on this twelfth,
April twelfth. Yeah, nice thumbs up, Evil, that's good.

Speaker 6 (33:29):
It's almost the middle of April.

Speaker 2 (33:31):
Almost. Yeah, that's crazy.

Speaker 6 (33:33):
I know it's twenty twenty five.

Speaker 2 (33:36):
I know you don't mean bye, my gosh, it's been
a yeah, yeah, it has heck of a one hundred
and twenty days. Yeah, Johnny C. That's me. Jimithie's are producer. Exhorta.
How are you doing? Mighty fine? Good morning, Glen. Here's
my crowd, the mortgage guy from the mortgage room. How
is your birthday weekend?

Speaker 6 (33:51):
By the way, Uh? Pretty quiet?

Speaker 2 (33:54):
Yeah, yeah, I thought you. I don't know. No, no,
I don't like it.

Speaker 5 (33:58):
No yeah, no, no, no it was quiet, stay at home.
I don't we didn't even do cake, no cake, no cake,
ice cream, you know, like a cookie, cupcakes. You know
what happened? What Tiffany's birthdays? February sheets, it's, uh Valentine's Day.

Speaker 8 (34:16):
Her birthday's Valentine. That's so cool because you don't have
to memorize anything.

Speaker 6 (34:21):
I think, yeah, easy to remember.

Speaker 5 (34:24):
Yeah, you also kind of get you Like some people say, oh,
you get to double the gifts, and it's like, no,
you get double. You get the one gift to take
care of both occasions, right, like, So that's worked out.
But this year, my daughter had a competition that was
out of uh the state, you know, the state weightlifting

(34:46):
or whatever, and so that was it was that weekend,
I think, if I'm remembering credit, I was out of
town for her birthday, right, Yeah, so my birthday was
pretty lucky.

Speaker 2 (34:56):
This year.

Speaker 7 (34:58):
Got b she got back and.

Speaker 5 (35:02):
That's why I had no cake, which I didn't mind
in the slightest.

Speaker 6 (35:07):
Like for me, I would it would be like, we
don't have to do anything.

Speaker 2 (35:11):
Ever, you gotta have something.

Speaker 3 (35:13):
I know I prefer the ice cream cake personally, but
you have to have at least one candle.

Speaker 2 (35:18):
You gotta be like have birthday.

Speaker 3 (35:19):
Yeah, I don't care if you're putting it in the
baked potato.

Speaker 5 (35:22):
Maybe there might have been something okay, good, yeah, good nice, yeah.

Speaker 2 (35:27):
Whatever, whatever it is He's.

Speaker 6 (35:29):
A romantic though, he's like, you know, you do stuff
like that, like little things.

Speaker 3 (35:33):
Little yeah, little things. I can't offer much more. A
fearless leader, he's right over there. He runs the top
producing Kellerwilliams Seeing the Flow to Home Bros. Team Kellerwilliams Innovations,
Jimmy de jim to Pull.

Speaker 7 (35:46):
How you be, Hey, I'm doing good. I'm doing good. Guys.

Speaker 8 (35:49):
We were talking about seller virus everywhere in the last
break and we talked about how smooth everything went for
Greg and Diana. They sold their home and Coral Springs
and they closed in their brand new home in Poyton
Beach just this week. So congratulations with Greg and Diane.

(36:09):
Bobby and Becky also just had a big move for themselves.
They were downsized and they lived in Port Saint Lucy
and they're still living in Port Saint Lucy. They just
moved to a different area, Ports Saint Lucy. But they
sold a three bedroom, two bath home in Port Saint Lucy.
But unlike Diane and Greg, who sold their house in

(36:29):
like eight or nine days, and everything was done in
thirty seven days. I hate to even say this, they
were on the market two hundred and nine days Bobby
without a contract or yeah, they were on the well, actually,
there was a deal that won into contract and it
fell apart twice with the same people. So they closed

(36:52):
on their third in a way, their third contract with
two different groups of people, and it was very, very tough.
Part of the stuff that happened with Bobby and Becky
was kind of interesting. So the first part was the
market itself. So when we put the house on the market,
we were definitely within the appraise value of the home

(37:15):
within let's say three percent, right, which is what I
always that's kind of my secret formula. You try to
go about three percent of what you think it's worth, right,
And what happened was is the interest rates were going
up at that point, this is last summer, and they
were going up, and I you know, we had seen
it eighteen months before, going up and down, up and

(37:36):
down like a yo yo. So I'm like, we're just
in one of those cycles again. You know, we'll pop
out of it again. It's not a big deal. But
what happened with them they were getting a lot of
showings but no offers, A lot of showings but no offers. Right,
I had two other problem properties at that time, and
those properties weren't getting any showings at all, So it

(37:57):
was kind of weird that Bobby and Becky were getting
the show as during the slow time, but nobody was
turning to offer, and they all kept saying the same thing,
nice house, but they didn't like the layout. Nice house,
didn't like the layout. I've sold easily a dozen of
those type of homes up in Port Saint Lucy. The
layout on this one. They were probably built like a

(38:19):
wast Bobby and beck He's built. They were built in
this house was built in I'm sorry, nineteen ninety seven. Yeah,
a late nineties house. So you walk into the house
as a two car garage, and you walk into the
house and when you walk in the house, you have
a living room and then you have a wall that
is the back of the kitchen, and then around the

(38:41):
living room is the dining room. Almost like not exactly
like yours, Jimmy, but you know how you had that
wall between your old house, the wall between the living
room and the kitchen. If that was more longer, if
it was longer, and people didn't like that because in
the kitchen they did have a small room on the
side of the kitchen, which usually would be a family room,

(39:04):
but it's kind of small, so you really don't want
to put a couch and put a TV there and stuff.
And it does have sliders that overlook the pool, but
people just didn't like to lay out of the whole
living room. And I was over there several times because
when the house wasn't selling, I was showing up to
try to sell the house a couple of times, and
people were sitting there trying to figure out how to
break out the wall and move the house around, and

(39:26):
it just wasn't going to work. So then because the
interest rates, because the interest rates, we had to start
dropping the price.

Speaker 7 (39:35):
And we did finally.

Speaker 8 (39:37):
Get our buyer, and we got our buyer in February,
and I vetted a mic And here's the problem I had.
I vetted this mortgage broker. I did not like him.
I didn't trust him. I didn't feel like he really
knew what he was doing. When I asked the questions,
he was very rude. He didn't want to give me information.
He was like, I'm the broker of this company, and

(39:58):
you know, I you know, if I say it's going
to close, it's going to close. I'm like, well, what
exactly did you do to qualify for the loan? Exactly
what's needed? You know, what are you asking me questions for?
But we had no other buyers at the time and
they really needed to move.

Speaker 5 (40:15):
So against your better judgment, I took it. You accepted
that offer, yeah, and the agent then they strung you
guys along for a long time, and then on March
we were supposed to close on March third.

Speaker 7 (40:27):
Well, they told us that was a Monday. I'll never
forget this, okay.

Speaker 8 (40:30):
So the friday before the Monday, we get the call, Sorry,
we can't close today. We need an extension of ten days,
but we'll get the loan.

Speaker 7 (40:39):
Why can't you close? The transcripts are wrong? The IRS transcripts.

Speaker 8 (40:44):
Remember that DIRS transcripts did not match what they provided
to the mortgage company. Mike, do you have any idea
how that works? How could somebody turn in numbers that
don't match what the IRS?

Speaker 6 (40:58):
So I can.

Speaker 5 (41:00):
Pathetically, I prepare a return, I hand you a copy
of that, and then I go and I prepare a
different return and send that to the.

Speaker 6 (41:07):
I R S.

Speaker 7 (41:09):
Wow.

Speaker 5 (41:11):
And so basically that's like the most you know nefarious
version of that story. Now could also be sometimes you'll
you'll file with the I r S, and the I
r S will make corrections. If there were errors on
what you filled out, they'll make corrections, and there you
might have some discrepancies. It could be that you filed

(41:31):
a an amended return, but what I supplied to you
was my original unamended return. Right, So there's I mean,
there's innocent ways and then there's the various ways. But yeah,
that's so with this the realtor, which is why we
do transcripts. Guys like, why do we pull transcripts in
exactly because when we're when we are using your tax

(41:53):
returns to document your income. So that's people who are
self employed. That's the most common case. Right, So, whether
you're ten ninety nine, you know, schedule seashole proprietor, or
you file corporate returns, we essentially use your tax returns
to calculate your income. How do we verify it that
what you've supplied to us is accurate? We bounce it
off the irs. IRS comes back and says, here's the

(42:14):
version they supplied to us, right, or here's the version
that's on our records compared that with what they supplied,
so obviously they should match up.

Speaker 3 (42:21):
So interesting thing is if it's nefarious, they're not very
sophisticated because they're not going to get away with it
at that rate.

Speaker 5 (42:27):
Yeah, sometimes you you know, the IRS takes a little bit.
So if it's a newly freshly filed return, you're not
going to get transcripts because IRS hasn't processed it. Sometimes
you maybe trying to like do something within that window
of time.

Speaker 3 (42:41):
What's the expectation for a turnaround on that now from
the IRS are They're pretty good about getting you that quickly.

Speaker 5 (42:48):
They will give us a result quickly, right, so it's
either here's the transcript or there's a no record found.
How long do they take the process returns? Just it
really depends on the time of year. Right now is
probably the longest amount of time. It's probably five six
weeks for the IRS to actually process your return and
have it in the system. Not a lot of people,

(43:09):
but I got my refund in ten days or something
like that, or maybe the refund came quickly. They will
issue refunds before they officially kind of like finalize the
processing and put it into their transcript or make it
available for transcripts.

Speaker 2 (43:21):
So that feels like putting the cart before the horse
a little bit.

Speaker 5 (43:24):
Yeah, But the IRS is like, you know, if it's wrong,
we'll let you know, right, So there is some level
of verification that the IRS is confirming the accuracy of
your return against whatever records they have as far as
W two supply by employers or ten ninety nine supplied
by vendors. But they kind of take your word for
it as far as refunds goes, and then if they

(43:45):
need to adjust it. I don't know if anyone's ever
got a letter from the IRS, but it says like, hey,
we made some adjustments based on this, and you owe
us some money back.

Speaker 6 (43:53):
Or we owe a little more money, which is a.

Speaker 2 (43:56):
Little more Yeah. Interesting yep.

Speaker 8 (43:58):
So in this case, their transcripts didn't match what they
provided the mortgage broker and the relter didn't communicate with
us at all. They had a transaction coordinator that was
worse than the realtor. I didn't think that was even
possible with this case, and it was really really bad,
and we were jamming it through, right, We're trying to

(44:19):
jam it through because Bobby and Becky have already got
another house or another place that they're going to live
under contract, and they need to tell that seller is
depending on Bobby and Becky closing because they put down
payment on a house they wanted to buy.

Speaker 2 (44:34):
Yep.

Speaker 8 (44:35):
Then on March third, we couldn't close. Bobby and Becky's
seller of the place they're going to buy lost their
place and ten thousand dollars deposit.

Speaker 5 (44:45):
This is why the job that I do is so
like to do it well, is so important to the process.

Speaker 6 (44:53):
Right, we don't.

Speaker 5 (44:55):
I guess the one thing is I don't want to
be in a contract they can't close, right, So I
don't know if you haven't finished a story whether it
actually we're able to get it through to the finish line.
But the reason you do a pre approval with somebody
who knows what they're doing is so that when Jim
and I have that conversation, I can make you feel
very good that I've done what I really need to
do and we close on time.

Speaker 2 (45:16):
Right.

Speaker 8 (45:17):
And Mike isn't going to give you attitude when you
call him up and say, hey, Mike, what did you
do to qualify for the loan? He's going to be
very helpful. When you think, oh, that's a great question.
Let me tell you everything I did to qualify for
the loan, right, he's not going to give you attitude
about it.

Speaker 7 (45:30):
So there's you ever going to work with this?

Speaker 5 (45:32):
Uh if he calls you out and it's like, hey, damn,
let's do some business together.

Speaker 8 (45:37):
I have a list of relters and mortgage companies and
other people that I have not had good experiences with,
and if I get an offer from a realter that's
like that, Like I have one now that I just
closed on Monday. She's on the list now if she
and she's very productive, okay, she's like top agent in
the area, but she's so miserable to work with and she.

Speaker 7 (46:00):
Almost killed the deal like five times from.

Speaker 6 (46:02):
Just like super she'll kill her.

Speaker 8 (46:05):
No, she's not shrewde, she's she's a sledge sledgehammer in
a china shop and think that's the way to do things.
And my guy wasn't handling it, and he told me
be rough with her, right, which I was, because it
deserved it.

Speaker 6 (46:20):
So she's a bull wielding a sledgehammer.

Speaker 8 (46:23):
In a right not just a ball and shot. But
she's wielding a sledgehammer too, So it ended up happening.

Speaker 7 (46:29):
I have her on the list.

Speaker 8 (46:29):
If if I ever get another offer from her on
another deal and I'm the listing agent, I'm going to,
of course present the offer. I have an obligation to
the seller, but I also feel like I'm going to
tell that seller, hey, look, if you go into contract
with this buyer, this is their agent. Let me tell
you what happened the last time I work with these people.
You're sure you want to take the offer?

Speaker 1 (46:48):
Right?

Speaker 2 (46:48):
Here's the expectation?

Speaker 8 (46:49):
Yeah, yeah, just know we're going to go through hell
and back and you're going to be miserable through the
whole process.

Speaker 7 (46:54):
Is it worth it?

Speaker 9 (46:56):
Right, there's the potential of it happening.

Speaker 7 (46:57):
I'm sorry, Oh yeah, the potential yeah, but with this one. Yeah.

Speaker 8 (47:04):
Anyway, So with but getting back to this, getting back
to the seller buyer, that realter was brand new. I
kept explaining to him that we had a seller buyer situation,
so he really needed to communicate better with us, and
his transaction coordinator needed to keep transast coordinator fired the
realtor because she said he had bad communication skills. Her

(47:26):
skills were bad, so you can imagine how bad it
was for her to fire him right. I was like,
oh my god.

Speaker 7 (47:32):
Right.

Speaker 8 (47:32):
And then the mortgage broker I found out later was
the uncle of the realtor, and the uncle didn't want
to deal with.

Speaker 7 (47:39):
The nephew anymore. Right.

Speaker 8 (47:41):
I was like, this whole thing is a freaking mess.
So we and on top of it, Mike, the loan
approval was the Friday before we closed. They never told
us the Thursday before we.

Speaker 6 (47:54):
Before your original close date period came and went and.

Speaker 8 (47:58):
They didn't say anything. It was Thursday. Thursday was the
last day for the loan approval. What that means is
buyers and as his contracts have a certain date that
they have to tell the seller we're good for the loan.
The loan's done, and then that waves was called the
financing contingency. But if you do have a problem before

(48:20):
that deadline, you're supposed to say, hey, we've got a
problem here, mister seller, and you got to give us
some extra time or we're gonna have to cancel the
contract and get my money back. Well, their money was
at risk because on Thursday they never notified us. Friday,
we get the call from the mortgage broker, Hey, we
can't close on Monday. I'm like, My people are already

(48:40):
have moving companies set up, they have a seller that's
ready to buy another property on the closing Monday. And
you're telling me on Friday that we're not closing. How
long have you known this?

Speaker 7 (48:50):
About a week? Ten days? Right?

Speaker 8 (48:52):
I go, you didn't think it was important. Well, we're
gonna close it. We're gonna definitely close it. We just
can't close it on that day. So we said, well,
believe me, try your loan is. Your loan is hard now,
I go. Your loan is hard now because you don't
have the waiver of the contingency for the financing and
there's nothing left because our title's clear. We're ready to

(49:12):
close on Monday, so we're keeping the deposit whether you
close or not. So they needed an extension. So in
order to make sure that we didn't have a fight
over the money, in order to sign the extension, we
had them in the addendum say they're releasing the deposit
right now. So what happened was they signed the addendum.
On Friday, the title company tried to title release the

(49:36):
money because the sellers the buyers agreed to release the
money in order to extend the closing. So we extended
it for ten days. Well, release the money. They gave
the money to the buyers, the sellers. They took the
money from the S Girl account and gave it to
the sellers because they agreed to. We had it in writing,
they were instructed that's what they were going to do.

(49:58):
Buyer's agent and mortgage company could care less. I was so,
I was felt so highly hired. Yeah, so we're going
to close on the tenth, which is the thirteenth, March thirteenth.
Couldn't close, kept the money, and then we had to
put it back on market again.

Speaker 6 (50:16):
Wow, So that deal died.

Speaker 7 (50:17):
That deal died.

Speaker 6 (50:18):
Oh, there's no happy ending for that buyer.

Speaker 2 (50:20):
Nope.

Speaker 8 (50:20):
And then she found out the phone the buyer's phone number,
the seller's phone number, and called them.

Speaker 6 (50:27):
For two weeks trying to get the money.

Speaker 8 (50:29):
Trying to get the money back, and she lied on
her transcripts. Right, So this lady created her own problem.

Speaker 7 (50:35):
Right perhaps? So then on top, yeah, well I'm going
to make an assumption there.

Speaker 2 (50:39):
Now.

Speaker 8 (50:39):
So what ended up happening It was we put it
back on the market, and thank god, as soon as
we put it back on the market, a buyer came
and said we've been following this property, we wanted to
put an offer of the day it went under contract.

Speaker 7 (50:52):
We're ready to put it offer in right now.

Speaker 6 (50:54):
Nice.

Speaker 8 (50:55):
So the like the next day or two years later,
we were back in contract at the same exact price
that we were with the original buyer.

Speaker 5 (51:04):
That's there's a there's a story there if they had
an agent. So if you're a buyer out there and
you kind of miss out on the house you've been
looking for, it is okay, get back to keep monitoring.
You can either try to get into a backup offer status,
which is like, hey, we're going to be your first
you know, we get dips, right, we get DIBs if
it doesn't go, or you just keep an eye on

(51:24):
it and uh, you can reach out to that listing
how thing's gone. Hey, you guys going to be closing,
and you know, you start to build that relationship agent
to agent to say, hey, if it doesn't work out,
we want it right like I got buyers, we're ready
to roll. Keep us in mind, like and it's nice
for you to have that backup when you're dealing with

(51:45):
a loan originator or broker whatever it is, who you're
not getting the greatest feeling from you can say, hey, listen,
we've got something in the wings here.

Speaker 6 (51:54):
Just let us know, like, can we want to move
on with.

Speaker 8 (51:57):
Our see you later, you know, don't let the door
hit you in the butt. Let's go, let's get this
done or not.

Speaker 2 (52:02):
Yeah.

Speaker 8 (52:02):
And I always go for backup buyers, Mike. When I'm
a listing agent, I always ask the sellers, can you
continue to allow me to show the property till we
get a backup buyer. You're not going to get as
many showings after you're under contract anyway, so you're only
going to get real serious people. And the other thing
was is that they just didn't care about the whole process.
They could care less. The buyer's agent and realter I

(52:24):
could not believe. And I called their broker multiple times.
Here's another thing. I actually was so angry that I
called the real estate company's brokerage, which is a pretty
well known brokerage. Nobody called me back. They gave me
three people that are the brokers for the state. It's
one of those brokerages where you have like one or

(52:46):
two brokers for the whole state, like Keller Williams.

Speaker 7 (52:49):
Every office has their own broker.

Speaker 8 (52:51):
Right, so they're all controlling two hundred, three hundred agents.
But in this one company they might have thirty thousand
agents in the state and they.

Speaker 7 (53:00):
Got three brokers. That's not good.

Speaker 2 (53:02):
No, right.

Speaker 8 (53:03):
They never called me back. They could care less. They
got this agent running around breaking all kinds of real
estate roles. They have no idea, right if they picked
up the phone and called me, I always say, hey, look,
you know I train agents too. Everybody makes mistakes. He's
a young kid, but he got a straighten up because
he's going to get your brokers sued, right, but for malfeasance.

(53:23):
But it didn't. It didn't work out. So what ended
up happening is we found the new buyer. We had
to close a little later then we wanted to. That's
why we closed last you know, we closed yet what
was yesterday?

Speaker 7 (53:36):
Friday? We closed Friday.

Speaker 8 (53:38):
But I got to tell you one of the things
that was really nice about that because.

Speaker 7 (53:43):
Becky and Bobby lost.

Speaker 8 (53:44):
A really important family member during all this stuff when
it was going bad, and then Becky had a medical
issue that she had to deal with. I mean, they
were just going through hell and back. Right, they had
to cancel the moving company three times.

Speaker 7 (53:58):
We're going to make this work.

Speaker 8 (54:00):
But at the end of the day when we closed yesterday,
Becky came over to me and she gave me a
really big hug, and it made me tear up because
I was like, so, you're not mad, She goes, Jim,
none of this was your fault, you know, thank you
for walking us through the whole thing.

Speaker 7 (54:14):
So that made me feel so good because I felt
so bad for them.

Speaker 8 (54:18):
They are the sweetest people in the world, and for
them to be drugged through the mug like that, Yeah,
that was really really tough.

Speaker 2 (54:24):
That's right now.

Speaker 5 (54:24):
And you know, like your gut tells you that that
that first conversation with that loan originator was like the
warning signs were there, but you know, you didn't have
other offers, and so it's like, Okay, I've got to
take somebody at their word when they're telling me you're.

Speaker 8 (54:39):
On the market a very long time. Yeah, and we
had to get it done, but we got it done.
They're very happy. They were so happy of moving a
new place yesterday and hopefully for a long time. Yeah yeah, yeah, okay,
let's go ahead and take a break. And on the
flip side, you know, what we're going to talk about.
Fort Pierce looks like it's growing up. It's going to
be maybe a major player in this area.

Speaker 2 (55:00):
Up.

Speaker 7 (55:00):
I know they're Johnny's looking at it.

Speaker 6 (55:03):
A federal courthouse there, Yeah, yeah, I mean they have.

Speaker 2 (55:06):
A federal courthouse there.

Speaker 5 (55:08):
Yeah, I've got I've got a bookmark for their county website.

Speaker 8 (55:11):
So so yeah, so that that means they're really on
the map.

Speaker 7 (55:15):
They're on Mike's bookmark list. They've made it. It's kind
of like getting your name in the phone book. It's
the publicity.

Speaker 8 (55:25):
But anyway, Yeah, we're going to talk about for Pierson,
how it's the city that might be growing up pretty fast.

Speaker 7 (55:31):
Right now.

Speaker 8 (55:31):
I'm going to talk about two big projects that are
wrapping out there. But that's interesting. Then right after that,
we're going to roll into what we got to roll into,
what's happened with the real estate market and mortgage rates
and everything over.

Speaker 7 (55:42):
The last week.

Speaker 8 (55:43):
Yeah, talk about topsy turvy. Like I said, I should
be walking in with the neck brace right now.

Speaker 3 (55:47):
We've got a lot of a lot to get into
with an our remaining Thanks for being with us every Saturday,
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Speaker 2 (56:30):
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hour remaining for you on this Saturday. Forming a break,

(56:54):
we're back at at Florida Talk Real Estate right here
Real Radio.

Speaker 1 (57:11):
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 3 (57:21):
It is eight seven seven nine two seven six nine
six nine toll free into the studio here on the
beautiful Saturday in South Florida. If you got questions, comments,
concerns on the world of real estate, you want to
be a part of the conversation at hand, don't be shy.
Dial it up. Jimmithy will line you up there. It's
our producer Extraordinair.

Speaker 2 (57:38):
How are you, my.

Speaker 3 (57:38):
Dude, doing mighty fine? Good morning, gentlemen, Good morning, Johnny C.
That's me Mike Rowse here, he's the mortgage guy from
the Mortgage room.

Speaker 6 (57:45):
Mike, Mike, Mike. Yes, good morning, Good Morgan.

Speaker 2 (57:49):
You have a nice passover evening tonight. You starting passover
this evening.

Speaker 6 (57:53):
No, I didn't know that.

Speaker 2 (57:55):
I think it starts with sundown am I wrong? Uh?

Speaker 6 (57:58):
Does anybody know?

Speaker 3 (58:00):
Not?

Speaker 2 (58:01):
I believe?

Speaker 3 (58:01):
So, okay for all my Jewish friends out there, have
a nice pass.

Speaker 2 (58:06):
It's a celebratory time.

Speaker 6 (58:08):
I don't know much about it, honestly, I was inquiring.

Speaker 5 (58:12):
But it's in and around, you know, it's it's an
Easter weekend next weekend. I think it's a sash Wednesday
is happening at some point Wednesday probably.

Speaker 2 (58:20):
I think it's a celebration you celebrate with your friends
and family.

Speaker 3 (58:23):
It's like a week long thing. If I'm not mistaken Georish,
I am not. I believe it's recognition of the exodus
of Egypt for your history.

Speaker 5 (58:35):
Buffs, okay, exiting Egypt, exodus, Yes, from slavery.

Speaker 2 (58:41):
Persecution, I believe, so okay. Yeah, I think it's very
celebratory in that nature. And if I'm wrong, correct me.

Speaker 6 (58:49):
Please, yes, somebody please please? I can't.

Speaker 8 (58:52):
Yeah, it would have been more fun if you made
something up and then if I'm wrong, I'll give you
a call.

Speaker 2 (59:00):
Everything very well could be wrong.

Speaker 6 (59:02):
Still does they said, quit this bitch?

Speaker 5 (59:07):
When one thing I did look up recently was you know,
Easter is one of those that you just have to
check every year. What day it's going to fall on,
And it has to do with you know, it's like
the first weekend, the first Sunday following the first full
moon after the uh some equinox or maybe the solstice

(59:30):
or what you know, whatever it is right that so
the first full moon after the what's this is what
happens on March twenty first?

Speaker 6 (59:37):
Like spring? Is that the summer winter or split?

Speaker 2 (59:40):
Is it spring? Right?

Speaker 6 (59:42):
There's something March.

Speaker 5 (59:44):
Yeah, March twenty first, My birthday is the first day
of spring, right, and that that and then so the
first full moon following whatever that which is astrological event
is and then the Sunday following the first full moon,
so that's the that's when you do.

Speaker 7 (01:00:00):
Easter was next Sunday Easter?

Speaker 5 (01:00:02):
Yes, I guess the full moon maybe passover kind of
follows the same rules. And I was thinking to myself,
all of these things are based on the equinox, by
the way, the equinox and the full moon, and I'm like,
you know, what's the origin of that as far as
being a special event, right?

Speaker 2 (01:00:21):
The connection?

Speaker 5 (01:00:22):
Yeah, I guess pagan pagan uh you know, pagan history,
you know, something like that, like the Christmas tree so
I wonder. I guess Passover must also be on a
similar kind of Which day is it this year?

Speaker 2 (01:00:35):
I think you're right. Yeah, yeah, I think you're right.
But yeah, Easter is a four twenty this year. Interesting?

Speaker 6 (01:00:40):
What does that mean?

Speaker 8 (01:00:41):
But for twenty So that's that is the first Sunday
after the full moon, because the full moon is today.
So that means if the twentieth isn't next.

Speaker 7 (01:00:51):
Saturday, right, it's next Sunday. Oh, yeah, it is next Sunday.

Speaker 6 (01:00:54):
I forgot today's Well, tomorrow would be the first.

Speaker 7 (01:00:56):
The eleventh. I thought today was twelfth.

Speaker 2 (01:00:58):
Okay, Hey, there's Jim Depoli Jamie.

Speaker 3 (01:01:03):
He was our fearless leader for thirteen plus years. And
now I told you runs a top producing kellowiaste in
the Florida Home Pross team.

Speaker 4 (01:01:08):
We got Kelly on hol She's apparently an expert on
a passover.

Speaker 2 (01:01:12):
Oh really, Kelly, what's going on?

Speaker 12 (01:01:16):
I'm not an exeter. I'm just a very good Catholic
who has many Jewish friends and kind of knows the
bottle a little bit, bibe a little bit. Anyway, Good morning, guys.
How why are you dry sea? Good to see you back.

Speaker 2 (01:01:27):
Good morning. I think.

Speaker 7 (01:01:30):
That.

Speaker 12 (01:01:30):
So there was a seven plagues. It's the Old Testament.
There was a seven plegs, and the last plag was
Passover where they they were gonna you have to save
your firstborn son, so the angel would pass the Angel
of deaths would pass over, and then that's when they
exibit after the seventh plags and so that's what passover

(01:01:51):
is for them, the seven days where the angel of
death passed over and did not take their firstborn son.
It also coin sides with Easter. There's also different calendars.
You also have the Greecian calendar, you have the Estonia calendar.
There's like the Greek Easter isn't until like three months
from them.

Speaker 3 (01:02:09):
So yeah, but.

Speaker 12 (01:02:13):
I believe, and I think I'm correct that Passover was
after the exibit. You're correct, Johnny. The exodus was the
exodus after the seven plagues, and the last plague was
the taking of their firstborn son. So they had to
mark the door. The angela death moved and then I
think they traveled around the desert for forty years and

(01:02:34):
forty nights. I don't know the thing.

Speaker 3 (01:02:36):
I think that sounds like the forty days, that's not the.

Speaker 12 (01:02:41):
Forty years it's forty in the Bible, says quote unquote years.

Speaker 6 (01:02:47):
But I should have paid more attention.

Speaker 3 (01:02:50):
Yeah, yeah, are you more an older New Testament? I
like the Old Testament.

Speaker 2 (01:02:54):
I prefer a vengeful God.

Speaker 12 (01:02:57):
I mean the Jewish culture, in the Caw culture, our
Old Testament is the same. It's just their Torah. The
Catholics have the Old Testament the Hebrews and the Jews
have their Tora and it's the exact same thing. So
we agree on everything up until Jesus Christ. And that's

(01:03:17):
a whole other thing. But that's what Easter is about.
So again, everybody recreates different icons of cultures. And I
have a non atheist friend that every Easter or Good
Friday he texts me and says, hey, we got them
your Sunday. Religion just kind of cross cultures. And I

(01:03:47):
don't know, it's cutting a great topic. But I do
have a real estate question. Please, we were talking about
sickens last week. You weren't here, Johnny, Like, I want chickens. Now,
do you have to if you wanted to build, you're
buying a property and it's wherever it is that do

(01:04:08):
you have to get a pull a permit to get
zoned or is that something you have to make sure
you have before you can buy the property, Like if
you pull if you buy a property, can you pull
a permit to build a chicken too, Jim?

Speaker 8 (01:04:24):
It depends on Hey, Kelly, it depends on what depends
on where you're zoned. Okay, so if you don't have
an agricultural zoning, you may not be able depending on
every every city in the county rules or could be
different as to whether or not you could like have
chickens in your backyard or not. Right, some of them

(01:04:46):
you're like, you can't have chickens in a condo. I
don't assume, right, I'm just making up an example, right, Yeah, well,
even so when we.

Speaker 4 (01:04:53):
Were talking about it, so I took a quick look
at you know, in Port Saint Lucy, right, so in
the city of Portaint Lucy it's not permissible, but in
unincorporated it is. So, which is you know, governed by
the county basically, so there he can. So I think
that's what you would probably have to find out first,
Kelly's whether or not the property that you're in permits
it or not. If it doesn't, maybe there's an appeal

(01:05:15):
process where you could apply.

Speaker 7 (01:05:17):
You can go for what's called a variance.

Speaker 2 (01:05:19):
Variance something.

Speaker 5 (01:05:20):
I don't think there's anywhere where you need to apply
or get a permit to build a chicken coop, right,
but if you want to have chickens in it, that's
where you got to have, right, right, Like you can build.

Speaker 7 (01:05:30):
Well is it a chicken coop until you put the
chickens in it?

Speaker 6 (01:05:33):
Yes, just the coop, yeah, that's right.

Speaker 7 (01:05:36):
A storage yeah, well.

Speaker 8 (01:05:40):
Yeah, but yeah, so you would have to check, you know,
your agent when you were going looking, would have to
make sure that where you were going if you wanted
the chickens.

Speaker 5 (01:05:50):
To Yeah, I think it's probably a good idea if
you intend on raising chickens, to check if that's allowed.
Maybe you know, listen in the neighborhood for sure, certain noises.

Speaker 12 (01:06:01):
It's more like if you're in an h away then
you have to ask some permission to build a coupe.

Speaker 7 (01:06:07):
Oh yeah, without a town nature way, absolutely.

Speaker 12 (01:06:10):
You have to. There's permits. You have the pool pool
if you want to like put a show in the back,
or you want to build a extra thing.

Speaker 8 (01:06:17):
On your nature way is an extra level on top
of whatever the city has h that's that's extra on
top of whatever the city or the governing agency is,
because you're basically when you move into nature way, you're
agreeing to to live within the rules of that h
your way.

Speaker 9 (01:06:35):
There's an HOA out there to permit chicken coops, I'd
be shocked.

Speaker 6 (01:06:38):
Yeah, you can always get on the board of the
HOA to change things.

Speaker 7 (01:06:41):
Yeah, true, Well participate.

Speaker 2 (01:06:44):
That's right, Kelly.

Speaker 3 (01:06:44):
Thank you for the information, Thanks for always being thanks there,
and I hope you have a great weekend.

Speaker 12 (01:06:49):
Thank you very much to brighten your Saturday morning.

Speaker 4 (01:06:53):
Right.

Speaker 2 (01:06:53):
Appreciate you very much. Always always nice to get a
little closure to our you know, our wonderings. Have a
great weekend, thanks of the phone call. Eight seven seven
nine two seven six nine six nine. You're more than
welcome to join the program as well.

Speaker 8 (01:07:05):
So I might be a little behind the times on this,
but uh, you know, like two years ago, maybe even
last year a little bit, I've been talking about how
for Pierces has a couple of projects that they've been
messing around with for a very long time that look
like if those things go, it could really start attracting.

Speaker 7 (01:07:23):
A lot of people to that city. You know.

Speaker 8 (01:07:27):
Four Piers, to me, is very overlooked city because it
is a waterfront city, Johnny. You know this better than
anybody because your your mom and grandma lived over over
over on the inter coastal over there for.

Speaker 2 (01:07:39):
So long long time.

Speaker 8 (01:07:40):
Yeap, And it's awesome. The water over there is office
and the fishing is awesome. The boating's awesome. Now four piers, right,
But a lot of people think it's has higher crime
and that the medium income is lower and.

Speaker 2 (01:07:54):
There's pockets everywhere. Sure where.

Speaker 3 (01:07:56):
It's not great, and you can pick a city, we
can find it spot.

Speaker 8 (01:08:00):
Yeah, but there's a lot more. You know, when I drive,
those areas are bigger.

Speaker 2 (01:08:06):
It's yeah, you know, it's yeah, I mean, you.

Speaker 7 (01:08:11):
Know, but but I'm a.

Speaker 4 (01:08:13):
I've been there recently enough to say that they have
really done a nice job.

Speaker 7 (01:08:17):
They really you know, clean.

Speaker 4 (01:08:19):
I don't want to say cleaning up because that kind
of gives a bad connotation to it. But it's just
really the downtown area is so much nicer and and
it looks nice and and they have plenty of parking,
and they've got plenty of restaurants there now, and they're
just adding more and more to it that it is
I can see why it's starting to attract people.

Speaker 9 (01:08:38):
Are they building a new North Causeway bridge or something too,
I believe as well.

Speaker 7 (01:08:43):
So I don't know about that.

Speaker 2 (01:08:44):
They're in the middle of that.

Speaker 4 (01:08:45):
And then there was a project that you're going to
bring up now because I remember you talking about this
at one time, to attract more people in there. But
they've also kind of limited how much building can be
done too, so I think they're going to try to
keep the congestion down, which is something maybe Porte Lucy
should look at.

Speaker 8 (01:09:02):
Yeah, really really, So with four Pierce, they have two
projects going on right now that are very exciting. One
is over by the water and the other one is
over by ninety five in the Turnpike at Midtown Road
Midway Road, right, So we have two big projects on
each end of the city if you will, east and
west that it really could really help transform the city.

(01:09:26):
Speaking of the first one, it's the property called King's
Landing and they finally actually broke ground. They're building a
waterfront community right in a modern waterfront community right in
downtown four Pierce, which I think is really awesome because
there's a you know, I love Four Pierce architecture. I

(01:09:46):
have to say that if you like the older, like
the really older homes, nineteen twenties, nineteen thirties homes, there's
so many out there, and the architecture is so nice,
it's beautiful, but it's a lot of work to turn
those around to make, you know, to keep them. So
we're going to lose a lot of properties, I'm sure
in Four Piers over time, and they're just going to rebuild.

Speaker 6 (01:10:07):
Some of those more historic looking homes.

Speaker 8 (01:10:10):
But the King's landing site over in downtown, in the
east side of the east side of Four Piers. They've
been messing around with this for six years trying to
get this thing to break around, and they finally broke
round on it. So it's going to be a waterfront
community out there. The article I read about it doesn't
really have a lot of details of what the waterfront

(01:10:30):
community is going to be.

Speaker 4 (01:10:31):
So it's Riverside, yes, but it's Riverside yes. Okay, it's
not on the island.

Speaker 7 (01:10:37):
No, it's not on the island.

Speaker 8 (01:10:38):
And the other thing is is that they also are
building in a Marriotte boutique hotel in downtown for downtown
Four Piers. Right now, which is another sign. If Marriott's
moving in, you know, they're they're assuming that things are
going to be changing down there. And the way I
found out about that is I know one of the
one of the one of the longtime bar owners in

(01:11:02):
that area by where the Mariotte Bomboy is being built.
He's a big fan of the show and he's in
our database. So I call him once in a while
and ask him what's going on over there, and he said,
big things are happening.

Speaker 7 (01:11:13):
I talked him about eight months ago.

Speaker 6 (01:11:15):
How are the beaches there, Johnny?

Speaker 2 (01:11:17):
Beautiful? Nice?

Speaker 3 (01:11:18):
Okay, Okay, not the best. Yeah, but it's you know,
it's it's beach.

Speaker 2 (01:11:24):
It's just not it's not like ideal sand situations typically
like not enough sand oftentimes.

Speaker 3 (01:11:31):
Yeah, but you can pick a lot of beaches where
that's the case. But yeah, it's it's just you know,
pretty gritty. Yeah, Yeah, it's not like I think you're
just saying.

Speaker 8 (01:11:40):
The second thing is I didn't know the name of
what they call this, and I'm a little behind because
there's a whole website on this if you want to
check it out. Coha Bay CoA Bay is a five
hundred and ninety five million dollar project. Five half a
billion dollar project they're putting in at Midway Road in
four piers. This is going to be a earf park

(01:12:01):
where you can live, eat and play there. So you
could vacation, live, eat and play all within this two
hundred and four acre park that they're building right in
the middle of the state. It's pretty crazy. And the
biggest feature of this is gonna be the surf the
surf park where they could put eighty surfers at one

(01:12:21):
time surfing in this wave pool.

Speaker 2 (01:12:24):
Is this is this backed by Kelly Slater? Per chance?

Speaker 8 (01:12:27):
Uh, it's Unit Unit Surf Kelly Slater, it is, Yeah, okay, okay.

Speaker 2 (01:12:35):
I've heard about this project.

Speaker 4 (01:12:36):
Yeah for years and years, right, park, I've been hearing
about for a long time.

Speaker 9 (01:12:41):
I didn't realize there was going to be that much residential.

Speaker 8 (01:12:44):
Yes, they're gonna put in they're gonna put in condotels,
they're gonna put in town homes, they're gonna have two hotels,
They're not just one. And then they're gonna have all
retail and dining.

Speaker 3 (01:12:54):
Well, it explains the Marriott downtown because when you said that,
I was like, well, what's gonna what's going to bring
in more tourism to four Peers. Well, there it is,
there it is.

Speaker 2 (01:13:03):
There's the expectation it's going to be this surf.

Speaker 7 (01:13:05):
Part surfing in the middle of Florida. That's how they're
going to do it.

Speaker 3 (01:13:09):
You know, if it comes together the way it's anticipated,
that's going to be a It'll be another real destination
point in Florida.

Speaker 7 (01:13:16):
I think so too.

Speaker 8 (01:13:17):
I don't think it's going to be Disney World, but
it'll probably be Waki Walky Springs Land more nat.

Speaker 2 (01:13:24):
You got to be a surfer, yeah, but there's a
lot in the world. Yeah.

Speaker 6 (01:13:28):
Some of the highlights.

Speaker 5 (01:13:29):
It's eleven and four residences, two hotels with two hundred
and seventy two rooms, uh, and then four hundred and
ten thousand square feet of retail and office space. So
you got to bring in people to work there, right
Like it's to service the residence so it seems like a.

Speaker 3 (01:13:49):
Pretty and the retail the retail space hopefully you know,
fills up is good demand that'd be.

Speaker 5 (01:13:55):
And you mentioned the word condo hotel gem or condo hotel,
so that brought it makes my ears perk cup because
its very difficult to get financing tradition. You cannot get
traditional financings to buy in a condo hotel. What maybe
explain what a condotel is, jem or you want me
to like.

Speaker 8 (01:14:12):
So, the only time I've ever dealt with the condotel
is that one place some Palm Beach, you know what
you're talking about.

Speaker 5 (01:14:18):
It just imagined like a condo, but a certain segment
of it is, you know, has hotel services, so basically
overnight stays. Right, So you own you you own your condo,
but half the building is serves as a hotel. Oh well,
that's a termanent residence and transient res.

Speaker 8 (01:14:37):
There's just one place in Palm Beach that I know
a lot of people have bought and sold over the years,
and it used to be a full it is a
full time hotel, but you can buy the rooms, and
people buy the rooms and then they go back to
the hotel and say you service it for me, and
they turn it into an airbnb. Yeah, and you could
either live there and live in the hotel. Right, live

(01:14:58):
in a hotel room. It's just like live in a hotel.

Speaker 2 (01:15:01):
Right.

Speaker 8 (01:15:01):
You have all the services a hotel house and everything, right,
but you're living in a room, right, I mean it's
it's just a hotel room. It's not a suite or
even an efficiency or anything like that.

Speaker 5 (01:15:11):
But you can definitely buy them with financing. You just
need a special type of financing.

Speaker 2 (01:15:17):
Yeah, exist which.

Speaker 8 (01:15:18):
I and the other thing that might be smart about
this because if this project actually goes the way it's
going all around there, there is an ability to probably
do Airbnbs around there because people are going to want that.

Speaker 7 (01:15:31):
Right.

Speaker 8 (01:15:33):
So anyway, this is a really great project. So these
two projects that actually broke around right now to me
is leaps and bounds farther ahead than where St. Port
Saint Lucy is with their down with their redevelopment plants.
Because how many times has Port Saint Lucy tried to
do things and failed, right, It just failed over and

(01:15:53):
over and over again.

Speaker 2 (01:15:55):
Spread.

Speaker 8 (01:15:56):
Yeah, and it was just very poorly developed when they
when they met apped out the city when they started,
they had this grandiose plan with that no infrastructure, with
no infrastructure, and they started they started building Port Saint
Lucie during a crash. We were going through a real
estate crisis when that was happening there. This is third

(01:16:16):
not not the last crash, but a long time ago.
My dad worked for the company that built a large
part of that area up there, and he worked for
the commercial vision, which was legitimate, but when the economy
got bad, they were trying to get draws from their banks.
The developers were putting in fake infrastructure, like for houses.

Speaker 7 (01:16:37):
They weren't playing on a building.

Speaker 8 (01:16:38):
They'd like paved the road or put in electric and
water just to get draws, just to get draws to
keep everything going. And they were robbing peeb to pay Paul.
And there's a lot of development problems that have happened
in Port Saint Lucy. You hear a lot about flooding
up there, you know, the flooding when it rains. Yeah,
And I like for Port Saint Lucy, so you know,

(01:17:00):
I like it overall. I know you lived there for
a long time, Johnny, I don't mind Port Saint Lucy.
And it's affordable and it's you know, it's a great
place to live on a lot of levels. But there's
a lot of the politicians are really lacking up there.
They really and I'm not just talking about whoever's there now,
so don't be insultant. I'm talking about over thirty forty
years the politicians there have never been able during the

(01:17:22):
booms and bus to figure out a system to get
their area building. The biggest problem with Saint Lucy County
is the meeting income is low because there aren't a
lot of jobs that you can go there. Everybody's commuting
to other places to get real you know, to get
better paying jobs. So Fort Pierce this is so funny.

(01:17:42):
I always thought Fort Pierce was actually like one grade
lower if you will, then port Saint Lucy as far
as operation.

Speaker 7 (01:17:50):
But now it looks like they're turning everything around.

Speaker 9 (01:17:53):
They have the downtown, which helps.

Speaker 4 (01:17:55):
They're going to create this new water park you're talking
about now that is way out west.

Speaker 7 (01:17:59):
It's a way out west, right.

Speaker 4 (01:18:00):
There's a significant distance between you know, these two areas.

Speaker 9 (01:18:06):
But not to mention, but it's not that far away,
you know.

Speaker 5 (01:18:09):
Yeah, what's way out west? Is it like West Palm
to Loasaachi? It further probably ten miles, yeah about that, But.

Speaker 6 (01:18:16):
It's the congestion.

Speaker 4 (01:18:19):
Yeah, and and what now And there's not a lot
in between you know, from there, but they they probably
will build you know, other attractions as well. Not to mention,
I mean, I know it's not a big, big thig.
But for some people it is they got the BUCkies
going in.

Speaker 7 (01:18:33):
Yeah, buckets.

Speaker 4 (01:18:35):
You just read that Injuria Road, which is I think
two exits up from Midway.

Speaker 6 (01:18:40):
That's a whole city on its own, right.

Speaker 3 (01:18:41):
I Ever, every time I go past the Bucky everyone's like,
You're gonna go to BUCkies, and no, I'm not going
to Bunkies.

Speaker 2 (01:18:47):
Ever, driven past the BUCkies. There's a million people do
want to go to BUCkies?

Speaker 7 (01:18:52):
To me, BUCkies, I went there a couple of times.

Speaker 2 (01:18:57):
Nothing, that's way.

Speaker 7 (01:18:59):
I know.

Speaker 5 (01:19:02):
It's a gas station, settled down, held down my steps
on Alex he came home from a road trip with
his buddies and they stopped at BUCkies and he brought
back BUCkies fudge.

Speaker 6 (01:19:15):
It was a variety of BUCkies sourced fudge.

Speaker 2 (01:19:19):
Is it good? Is it like better than Hoffman's?

Speaker 7 (01:19:22):
No, Hoffmans?

Speaker 2 (01:19:23):
Was it really Lakeworth Road? It's not.

Speaker 6 (01:19:27):
I guess BUCkies was better.

Speaker 2 (01:19:28):
Now it's better.

Speaker 5 (01:19:30):
I think they're surviving off of their fudge profits. You went,
you went to a gas station, brought fudge to get.

Speaker 2 (01:19:38):
The Buckie Bucky nuts or what do they got? I
don't know.

Speaker 9 (01:19:41):
I don't know if he said I was answer the phone.

Speaker 2 (01:19:43):
But what their there?

Speaker 9 (01:19:45):
Uh, pulled pork or something, isn't it. There's a there's.

Speaker 7 (01:19:47):
A sandwich that they have there. Oh, I didn't know that.

Speaker 6 (01:19:52):
I always loved the.

Speaker 2 (01:19:57):
Brisket. They're brisket, They're brisket.

Speaker 3 (01:19:59):
Well.

Speaker 8 (01:20:00):
I think this surf park overall is going to be
a great, great idea, a great attraction to bring people
to that whole area. I think is really good potential there,
and they've worked so hard. The county has worked so
hard to make this happen. They had this surf park
in like four different places over time. They wanted to
put it in a county park, then they were going

(01:20:21):
to do it privately, then they brought it back to
the county again.

Speaker 3 (01:20:24):
It was originally like more closer to Pumpage County. I
think the original plan was a little further south.

Speaker 8 (01:20:31):
Oh yeah, it was a completely different area than where
is now. But they've been talking about this for years
out there, and I've always said, hey, did they ever
break ground? And then I saw the little article on
Channel twelve, which Channel twelve news where I saw it,
so if you want to check it out. The headline
of the Channel twelve News is Curce up four pier
six hundred million dollars.

Speaker 7 (01:20:49):
Surf Park community underway, So go ahead and check that out.

Speaker 2 (01:20:52):
Super cool.

Speaker 7 (01:20:53):
Let me see here.

Speaker 3 (01:20:56):
Six nine six nine told for you to be a
part of the show. Of course, if you're not comfortable
on the radio. Remember Florida Talk real Estate is a
dot com. You're one stop real estate shop. You got
access to all the team, the prospros at floridatokreal estate
dot com.

Speaker 2 (01:21:09):
Don't use it, love it, share it.

Speaker 4 (01:21:12):
Not far from there too, they're putting at the big
Cabo Real r VA Park in as well for you know,
the big motor homes and whatnot. But it's again, it's
like its.

Speaker 9 (01:21:21):
Own little city from what I understand that they're building there.

Speaker 2 (01:21:25):
Cool.

Speaker 4 (01:21:25):
I know they have some of the sites and a
couple of their buildings are done now. I have friends
of mine that are They have an RV and they
bought one, so that's going in that area as well.

Speaker 6 (01:21:36):
Yeah, like this destination.

Speaker 8 (01:21:39):
Yeah, so central Florida, you know, this middle of state
right now is some things are happening there. A couple
other things. I just want to talk about West Palm.
There was an article in Newsweek that said over the
last ten years that we've seen one hundred and twelve
percent increase in millionaires living in the city of West
Palm Beach. That's not surprising because we've seen that gentrify

(01:22:03):
pretty amazingly. So a lot we saw a trend right
after COVID or during COVID, where a lot of the
Palm Beachers were selling their houses for a huge amount
of money, and then they were moving across the inner
coastal to the east side, the west side of the
Inner coastal and buying the homes on the inter coastal
side facing Palm Beach, right.

Speaker 6 (01:22:26):
And riverside, Johnny would call that riverside.

Speaker 8 (01:22:28):
Yeah, And they were doing that, and they were buying
homes that were selling for eight hundred thousand five years ago,
and they were paying two three million dollars just to
tear the building down and putting up fourteen to twenty
one million dollar waterfront homes looking at Palm Beach now, right,
So we've seen all that happening. That was in one

(01:22:48):
of the neighborhoods. That's happening a lot in is So
So South is Southern. That's going on over there, and
so supposedly the city is now home to eleven thousand
and five hundred millionaires, and just West Palm alone, seventy
eight of those residents are worth a hundred million or more.
And there were ten billionaires right in West Palm right now.

Speaker 6 (01:23:11):
There before or after. This is from stock market last week.

Speaker 8 (01:23:16):
Yeah, yeah, they maybe the only half a billionaires now
right some shifts. Yeah so uh uh yeah so, but
we weren't the.

Speaker 7 (01:23:29):
Highest increased billionaires. I read ten billionaires.

Speaker 2 (01:23:32):
There were fifty billionaires on the island alone.

Speaker 8 (01:23:35):
Yeah, I don't know. Maybe, Well, it's funny Palm Beach
has sixty eight billionaires.

Speaker 2 (01:23:40):
Oh so we're not calling that West Palm.

Speaker 7 (01:23:42):
No, we're crocking West Palm.

Speaker 3 (01:23:44):
Thisdio Weber sixty eight billion they said, I read fifty
billionaires on the island.

Speaker 2 (01:23:49):
There's sixty eight.

Speaker 8 (01:23:50):
That's what I This is what it says. Palm Beach
has sixty eight billion billionaires living there, according to the
Palm Beach Daily News and Forbes List.

Speaker 7 (01:23:59):
You know, a billionaire wealthy people in twenty twenty five.

Speaker 2 (01:24:02):
Oh my gosh, it is so much money.

Speaker 8 (01:24:05):
So you know, this to me is just more proof
that Florida is changing more and more. And I was
talking to a guy yesterday. He I have a property,
newer construction home up in four Piers, four bedroom, two
bath home, great opportunity, two thousand square feet, got out

(01:24:26):
on the market for three eighty nine. So they called up.
A developer called me up and said, hey, we might
be interested in buying that property. But he's also looking
for land and stuff because he uses this state program
that gives him huge incentives to build income tracked housing
like low income housing, and but you only can do

(01:24:49):
it in the middle of the state, not close to
the coast. It's like they have an area where they
want you to.

Speaker 7 (01:24:55):
Use that money. And to me, it's so clear what's
happening right now. We have to have the.

Speaker 8 (01:25:01):
Lower income or a lower, lower priced affordable housing so
we can have the workers to support the millionaires on
the on the coast. And they're planning on putting them
all in the central part of the state right and
they're going to be commuting either by bright Line or
other kind of trams or their car, and they're going
to be commuting, you know, thirty forty miles to serve

(01:25:26):
the millionaires. That's what's just what's going to happen it's
going to be Cape Cod Martha's vineyard. That's what we're
turning into.

Speaker 5 (01:25:33):
Yes, I guess as you get more demand for higher
end real estate, the you know, what do you do?
You have to build it. Where do you build it?
You got to make space for it.

Speaker 2 (01:25:42):
Yeah.

Speaker 5 (01:25:42):
I don't know that that's new, though, Jim. I mean
hasn't hasn't Palm Beach Island been a destination of the wealthy.

Speaker 7 (01:25:49):
Yes, but not to the century, not to the extent
a little more west just Palm Beach.

Speaker 8 (01:25:55):
But now look how many millionaires are in West Palm, right,
I mean.

Speaker 7 (01:26:01):
Think about it.

Speaker 8 (01:26:01):
You have some of the wealthiest people in the world,
like Jeff Green, who's all about West Palm right now, right,
I mean he's been all about West Palm for ten years.
He's building all these projects, right, and he's the one
that was dealing with that whole school brew haha about
UF versus. I think Vanderbilt. I don't know if you remember,
but downtown and West Palm there was supposed to be

(01:26:23):
this big new satellite campus for UF. I was kind
of excited about that, and the whole thing fell apart.
Jeff Green was involved in it, and now he brought
in Vanderbilt or somebody instead of UF.

Speaker 7 (01:26:36):
I was kind of bumped out about that. I'd rather
have youft there.

Speaker 2 (01:26:39):
Top notchge university though.

Speaker 8 (01:26:41):
Yeah, yeah, you're right, he brought it. Yeah, both are
both are really top notch. So but anyway, we're seeing
that millionaire thing, Mike, not spilling over from the island,
is what I'm saying. And the more it happens, the
more that middle class and lower middle class are going
to be pushed more into the center of the state,
less and less closer to the beach.

Speaker 5 (01:27:01):
They we'll give you good money for your house, and
then you're like, but where am I going to go?

Speaker 6 (01:27:05):
Or where is affordable?

Speaker 7 (01:27:06):
Yeah?

Speaker 8 (01:27:07):
Go north, go west, Yeah exactly. So we're going to
be seeing that. But West Palm is growing leaps and
bounds with millionaires, it's also actually seeing less people. West
Palm was one of the cities that actually had a
decline in the amount of people living there. What people
forget this. People don't know that there is many people
leaving Florida's coming in. What's happening though, is the people

(01:27:30):
coming in are much wealthier than the people that are leaving.

Speaker 6 (01:27:33):
Hmm.

Speaker 8 (01:27:33):
That's why I'm saying, we're seeing this trend, and this
isn't a trend that's going to happen overnight. This is
decade or more than a decade I'm talking about. It
isn't like a light switch and it's going to happen,
but we're seeing it in real life. What's happening. Yeah,
so it's really happening. So just more changes happening. I
find it to be kind of interesting. Just want to

(01:27:57):
do something before we get into the market, which I
want to talk to you about. I just want to
do very quick wrap up. Governor Santas held a press
conference earlier this week in Miami where he said he
told the state legislators, you got to fix this condo crisis.
I watched his half hour interview for the press conference.

(01:28:19):
It was kind of interesting because what he said was
after surf what is a serf side collapse? Is the
serf side always get the names wrong? When surfside collapsed,
he felt that the legislators went too hyperactive about the
rules and regulations that must be changed right away and
that there would be blowback from those decisions. And he

(01:28:43):
says the blowback is a lot of elderly people right now,
are freaked out that they're not able to live in
their condo for the rest of their life like their
plan was. Because of the fees to make up for
the concrete restoration that needs to be done to their building,
the deferred maintenance issues, plus the amount of reserves they're
supposed to be holding in there, it's just too much.

(01:29:03):
So Desanta's is like, look, these rules and regulations are important,
but you can't be kicking grandma out of her house
because she can't afford one hundred thousand dollars bill that's
slapped on her desk and saying you got to pay
this right now, Grandma. Right So they're saying, you've got
to go back and fix this and find out some
kind of middle ground. They're also trying to create some

(01:29:26):
state financing to help the lowest at risk financially people
that could be losing their homes, and he's trying to
create a plan for that. So maybe there's some relief
on the horizon that some of these major, major like
bills that are being demanded to be paid right now,

(01:29:46):
they don't need to be paid right now, that they
could be paid over time.

Speaker 5 (01:29:50):
I think there's only one way that works, right, So
you have contractors who are doing work who need to
get paid for it. Those payments come from the associations.
The associations are funded from the homeowners. Where else could
the money come from.

Speaker 8 (01:30:08):
Well, they might create, they might be take special financing,
might happen like special bond financing or something where the
state is backing it exactly, and maybe the condo. And
I would assume that the condo note for the whole
community is being held in Escro basically or is interesting
not not Escro, but what security security security is like, Hey,

(01:30:32):
you've got to put the condo up, you know, the
whole association up for us to give you.

Speaker 2 (01:30:37):
That is going to start its own basically like fha.

Speaker 8 (01:30:41):
Yeah, oh my god, that would be so scary if
we well, I know, something's got to give happen.

Speaker 5 (01:30:49):
I agree, But it's basically it's kind of on taxpayers. Essentially,
it's going to fall on.

Speaker 3 (01:30:53):
Yeah, the irresponsibility of the management of these condo associations
is going to fall on the taxpayers.

Speaker 2 (01:31:00):
Here's what they need to do.

Speaker 3 (01:31:00):
If they're going to do that, they have to make
it criminal to mismanage these things. Yes, that there are
repercussions to you not managing these appropriately, because all these
homeowners for all these years that are freaking out right
now are the reason that they're in this position because
they always make sure can they kick the can, let's

(01:31:21):
not pay for this right now. Nobody wants their h
a way to go up, but you have to you
have to manage this, you have to maintain.

Speaker 5 (01:31:29):
I think there is a crisis because you do have people,
you know, unfixed income who don't have mortgages. Basically their
only housing expenses related to their hoa or condo dues
and their you know, utilities and those condo dues, Like
in a matter of two years, Johnny have tripled, right

(01:31:51):
like you, Like I've seen cas it goes from three
hundred to nine hundred.

Speaker 2 (01:31:55):
Or regular homeowners have gone through it too. Are insurance as.

Speaker 5 (01:31:58):
Like insurance, So basically between it's kind of like all
happened at once, right, So the you know, kick the
can down the road on long term like the reserve budget,
long term capital expenditures, they basically just kind of said,
we'll figure it out, we'll figure it out, We'll figure it.
Now they're being forced and it's not even new law,
like they're being forced to comply with existing.

Speaker 7 (01:32:19):
That they were supposed to do it originally.

Speaker 6 (01:32:21):
Right, right.

Speaker 5 (01:32:24):
They also had these big projects you know that related
to the you know, the structural integrity of the building.
It's like pretty important. Can't kick the rent can down
anymore on that insurance. Guess what, wait a second, there's
a risk of buildings collapsing. These high rise buildings can collapse.
Insures are like, okay, well we need to you know,

(01:32:45):
cover our butts a little bit. Premiums go up, so
they got like it's like a trifecta totally. And if
you're somebody whose incomes fixed every single month and your
expenses up until this point were more or less fixed,
and then all of a sudden you have this huge
new expense, it's just you know, what do they do?

Speaker 8 (01:33:00):
And then that was Governor Santas's yeah comment at the
press conference. He said, he goes, I know a lot
of people, because he was trying to do blowback from
people saying that we shouldn't give breaks to certain people,
he goes, I know a lot of people are saying, well,
these people have owned their condo twenty thirty years and
they own it outright, So So why don't they just

(01:33:20):
take Why don't they just sell the condo?

Speaker 7 (01:33:23):
This is what he said on the press conference.

Speaker 8 (01:33:25):
So why don't they just sell the condo and then
go buy something else affordable? Right, And that's what he
was saying. He's like, that doesn't work in the real world.
So they sell it and then they got to pay
today's prices for the new place and they can't afford it.
So he goes, so we have to do something for
these people. So it'll be interesting to see what, if anything,

(01:33:45):
they can do. But you know, at least so people
that are freaking out, at least, at least you could
see that the bail at least they're talking about it.

Speaker 2 (01:33:55):
Yeah, and at least this bailout is for the people.

Speaker 3 (01:33:58):
Yeah, there's a part of me that absolutely says that's amazing.
I just wish it was more blanket because there's there's
plenty of grandmas that have been on their fix the income,
that own their home out right that when their insurance
popped by forty percent, they now struggle to make their
monthly nut. The same thing. And by the way, you
can do you can throw state caps on insurance. I mean,

(01:34:19):
you can do things I know we have citizens what helps,
but the focus, the shift of the focuses is interesting
because the insurance crisis has been real for years and.

Speaker 7 (01:34:29):
It's gonna get better. I mean, right, we get better.

Speaker 3 (01:34:33):
Litigation's gonna fix it. Well, it's fixing it a little bit,
but it's not gonna it's not gonna be dramatically better.
We're never gonna get back to what it was five
years ago.

Speaker 7 (01:34:42):
So I want to wrap up it.

Speaker 8 (01:34:45):
We only got like fifteen minutes left, and it's really
important we talk about this because we do try to keep,
you know, a breast to what's going on in the news,
and this was pretty big stuff this week. I mean,
it was very topsy turvy the market. So I don't
want to get into the stock market necessarily might but
I want to talk about the mortgage situation. So if

(01:35:08):
you go to Freddie Mack, the good news is right.
You know a lot of people are upset right now.
You know, they're very nervous about what's going to happen
in the future. I understand it. I'm nervous too, but
right now, at this moment, we don't have the indicators yet.
That is everybody as doom as gloom as they are.
It isn't here yet. It might be coming. I'm not

(01:35:30):
saying it isn't coming. It might be the shadow coming
over us right now. But the jobs report was very strong,
very very strong. Our inflation rate was surprisingly good. I
read that report. That report was better than almost all
the reports that we had for the last like three
two years, two and a half years. That was a

(01:35:51):
very strong, nice inflation report for us, meaning the inflation
wasn't spiking too much. Whether or not that was like
as good as it's going to get, and it gets
way worse from this point forward, we don't know. Because
things are happening so fast. The stats can't even keep
up with all the changes we're doing right now. But

(01:36:12):
here's another thing. Freddy Mack came out with their weekly
report with all that chaos.

Speaker 2 (01:36:17):
Dollars dollars getting hit a little bit.

Speaker 8 (01:36:18):
Oh, we'll get there, we'll get there. But I'm just saying,
there are some bright spots of what we're doing. It
isn't like all doom and gloom by any means. There's
some very big bite spots. And Freddy Mack, over this
crazy week we had, the interest rate went from six
six' four to six six, two so it went down
a little. Bit but the last two, Days, mike All

(01:36:41):
i've been reading about in the news is how the
mortgage rates are spiking like.

Speaker 7 (01:36:46):
Crazy that's WHAT i was.

Speaker 8 (01:36:47):
Hearing AND i went and looked at THE t bill
AND i saw the ten Year treasury, bill which is
really what sets interest, rates not The. Fed mortgage rates
are really more tied the ten year tea. Bill AND
i saw that, chart and that chart was like somebody
drew a line straight up and.

Speaker 7 (01:37:04):
Down that was. Nobo there was no angle to it at.
All it was straight.

Speaker 5 (01:37:09):
Up if you're looking at one day chart right or
even like the morning yesterday, morning you'll see that there
was a pretty significant spike in the in the ten year. Treasury,
yeah and then it settled down throughout the. Day but,
yeah if you look at it close, enough you'll see
these sheer, like oh my, god that's a that's a,
spike which is if you back out a little, bit
it's you, know.

Speaker 8 (01:37:29):
Well we've been hanging around. Here BUT i went WHEN
i saw WHEN i read that the tea bill was going,
NUTS i went online and WHAT i did was IS
i looked at where we were at that, moment we
were roughly four point five then for the tea. Bill
right THEN i went back to the date the last
time we were at four point five for the tea,

(01:37:50):
bill found out the date for, that and THEN i
went back and looked At Freddie mack And Freddy max
showed we were around seven point oh, two where a
six six two right now when we were at THE
t bill rates we are, Now we were at seven
point oh Two Freddy, Matt, uh do you think that's
where we are? Now mike is, like we're in the

(01:38:11):
sevens right now for.

Speaker 6 (01:38:13):
People, YEAH i think you.

Speaker 5 (01:38:14):
Would, well you could certainly expect the correlation between what's
happening with the ten Year treasury bond and mortgage, rates,
Right it's not, exact but you'll see that movement those things.

Speaker 6 (01:38:25):
Follow so, YEAH i mean a, good a very good.
Thing like we.

Speaker 5 (01:38:28):
Were the bond was at four and a half pretty
much two months Ago february, twentieth and it was slightly
above that or leading into, that, right So January february
basically where we're at kind of right, now, right and
then it slowly got down and we weren't really that
low for a. Point, yeah it was like four point,

(01:38:49):
three four point you, know so then we had just,
like you, know two weeks where it got down near
four o'clock or.

Speaker 7 (01:38:55):
Yeah four point four or.

Speaker 5 (01:38:57):
Something, yeah, Right so, YEAH i would expect rates rates
went down in that little in that brief, period and
then they went back, up and people talk about the,
spikes and people are freaking out because you don't expect, like,
hey Today i'm quoted at you, know six point seventy
five and Tomorrow i'm going to be quoted at. Seven,
Right you're not expecting a day to day quarter point.

(01:39:17):
Movement so that's why people that's why the headlines come out,
like oh my, god rates have jumped from yesterday to
today or from two days ago to.

Speaker 8 (01:39:25):
Today and we've been through this cycle on this show
many many. Times in twenty, eighteen we went through this
right where those rates started. Spiking and also the if
we're not on a continued, spike we're definitely on WHAT
i call that churning up and down choppy, market, Right
AND i predicted that the year that we would have

(01:39:47):
a very choppy market this. Year in the first four
months of the, year, well the last ten, weeks let's
say ten weeks before this, week we were very. Flat
it was pretty predictable what was going on with the interest.
Rates we were roughly six point six sh, right and
we were just that's kind of where we were for
ten weeks and then all of a, sudden you, know

(01:40:09):
we're going to go through the shock. Again and we've
gone through this a couple of times where the, buyers
when you're in a choppy up and, down up and,
down the interest rates are bouncing all over the, place
it's a lot more stressful for buyers because they're, WONDERING
i got to find my house before the interest rates
go up, again, right, yeah and they're going through.

Speaker 5 (01:40:27):
THAT i think about things things like when you're like
how important is it to you as the, Buyer like
what's happening day to day in the.

Speaker 6 (01:40:36):
Market and.

Speaker 5 (01:40:38):
The truth is until you have a close, date meaning
you're in, contract like that's really when you Can AND
i hear commercials, like, hey we're going to lock in
your loan with your pre approval before you're even. Chopping,
well if you do, that like you don't, know your
closed date could be three months away or four months.
Away if you're locking in alone that. Early believe, me
there's some protection in there for the lender again market,

(01:41:00):
movement so you're just not you, KNOW i hear. It
it's kind of a, gimmick, right they will locked you
in today at today's, rates but they could be right,
right like the market could go the wrong. Rags but
the ultimately like when is. Important it's when you're considering
locking or. Not when can you consider locking or? Not,
basically get you're in, contract you got a close, Date
like that's the moment where you, say, hey wait a,
second what does it look like? Today and then what's

(01:41:22):
my prediction for WHETHER i should lock it in now
or wait till next, week or wait till two weeks
or wait till week before?

Speaker 8 (01:41:29):
Closing AND i know some people are always at the
upper limits of their, budget but if somebody was, paying
let's just say that they were budgeted to do six
and a half, percent, yeah and it jumps up to seven.

Speaker 5 (01:41:42):
Yeah or like you're doing your decision making, Right i've
got my app where it has rates in. There that
rate's not tied to the. MARKET i basically have to
go in and kind of adjust it based on your
situation and what the market has for. You and if
you're making your decisions and you're at the top end
of your. Limit, absolutely that interest rate change could put
you over for your maximum if nothing else, changes all
things being, equal and the rate went, up, yes your

(01:42:04):
payment's going.

Speaker 6 (01:42:04):
Up, yes that could put you over what you're able
to use for.

Speaker 5 (01:42:08):
Qualifying which is why you hate to see these quarter
point movements in a, day right, like because you can
get out in front of it when there's like a
just kind of. Trends and the truth, is, yes it
can make a. Difference how much would that one day
to the next or one week to the next impact
you unless you're really locky in you, know it's just

(01:42:31):
like your subject to market, Movement like that's. It you
can't control. It and WHEN i look at this and
of course these headlines where it's like the market's getting,
better right like people were just waiting for rates are
coming down news, like and so when rates went down
a quarter of a point over a two week, period
that became like get, in, like get in while it getting's.
Good and if you're in the market and you're lined

(01:42:53):
up and you're preapproved and your, shopping, hey you could
have taken advantage of. That maybe maybe those stars aligned
in that, moment which is what we preach about all the,
time which is if you want to be able to
take advantage of, that you need to be. Watching you
need to have tools at your disposals so you can
make decisions with you, know real. Information and if you've
been waiting for that house in this neighborhood at this

(01:43:15):
price and this interest, rate and, boom you can now
afford it that you should be able to take advantage
of that if you're just sitting on the, Sidelines, jim
and you haven't even talked to a real estate, age
you haven't talked to a. Lowner and then, like.

Speaker 8 (01:43:27):
Yeah you, know we're talking about people that Like i'm
thinking When i'm putting out this much to people that
are in the market right, now not the ones that
are thinking about buying in the, future but.

Speaker 7 (01:43:37):
Like, yeah you know or ready to buy right.

Speaker 5 (01:43:39):
NOW i was kind of getting up to like so
you feel this optimism started coming through it a couple
of weeks of, like, wait the rates are going, Down holy,
cow is the best Rate i've seen in a couple of,
Weeks and so people like want to get on that,
snowball Right they wanted to continue and then you have
this like, boom, check, reset wait a, second hold it
bad news, now no more good. News, now it's bad.

(01:44:01):
News and when you look at it like where are
we right? Now like the how do we finish this?
Week yesterday were very much.

Speaker 8 (01:44:09):
Where we've been In, January march or last efeteen, months
we've been around six and a, half six points.

Speaker 5 (01:44:15):
Even even the further, back, Right so the treasury at
four and a half is is basically lower than it
was leading up till, uh you, Know february twentieth of this.

Speaker 2 (01:44:24):
Year.

Speaker 5 (01:44:25):
Right SO i look at this stuff and it's hard
because people talk about it and people are, asking and
you don't have a lot of situations where someone, saying, Hey,
mike SHOULD i lock today or SHOULD i wait till next?
Week AND i always advocate locking as early as, Possible
but YESTERDAY i had two people WHERE i, said you know,
WHAT i don't like, Today let's just let's wait Till.

Speaker 6 (01:44:45):
Monday, Right let's just see what.

Speaker 5 (01:44:47):
HAPPENS i might settle down Because fridays are always a
little bit in the first. Place but Yesterday, friday, yes
Yesterday friday was there was just a weird you.

Speaker 7 (01:44:57):
Know it was it was very it was very chaotic Of.

Speaker 8 (01:45:00):
Friday and here's a couple of things from the realtor's
perspective about. This, okay so if you're a buyer and
you're all excited and now you see the rates go
up and you're all depressed now because the rates went
up a little, Bit first of, all what's going to
happen psychologically is there will be less buyers when they
start reading these. Headlines now they come back and forth

(01:45:20):
like a. Wave so that's a whole Different but, yeah
but the thing is is What i'm trying to say
is is that means you have less. Competition so if
you decide, that, Hey i'm buying a house AND i
don't care if it's, six, seven five or, seven, right,
well what the agent can, do if you got a sharp,
agent they know that there's less buyers out there hunting
at that, moment because we see when we hit close to,

(01:45:43):
sevens people kind of, disappear and that gives the buyers
that are still in the game a better opportunity to
get at least an. Offset so we know that a
quarter percent interest rate increases two point five percent of
somebody's purchasing. Power so what do you? Do you lower the, price,

(01:46:03):
right you lower your price two and a half. Percent
now you're exact even where you were on that quarter.
Point and people are going to, say, well how are
you going to get the seller to do? That there
are motivated sellers out there because the inventory is so.
Large there are certain sellers that have to sell not
because they want to sell or because they want to
upside or. Downside some people are selling because they have

(01:46:25):
to move for, work they get a, divorce they have
a health, issue they're just getting older and they have
to move to be closer with. Relatives so all of those,
people they are more willing to give you that price
discount that you need when the interest rates go. Up
so don't as a, buyer don't let the interest rates
be the determining factor whether you want to buy the

(01:46:47):
house or. Not if you if you have a command
of interest, rates you can use them to offset. Things
if you have somebody who knows how to, negotiate you can.

Speaker 6 (01:46:55):
Make up distract.

Speaker 5 (01:46:56):
This so if you're extracting money from the, sellers then you, think,
well what's the best place to use. That maybe you
keep the price the, same but you get some money from.
Them and then you, know pay to get your rate
a quarter of a point, lower, right paid discount points
to get your rate a little bit. Lower so, yeah
you have to be able To you have to be
working with professionals who understand, that who can who are
kind of watching daily and taking advantage of the strength

(01:47:23):
that buyers. Have even if rates are going, up buyers
have more and more. STRENGTH i think in this market
it's continuing to go that. Way, yes because days on
market is, extending inventory is. Increasing this is just more
power for buyers right now in negotiating than there has.
Been AND i agree with, You, jim, like the rate
is not what should be your deciding factor to buy

(01:47:45):
a home or. Not right your deciding factors are first
and foremost family life like. Decisions, Now i'm not saying
the rate isn't important to your decision. Making you have
to be able to know, ultimately what's this payment going
to be on this home and can we qualify for
it number one and afford a number two or maybe
those could be. Posit you, know afford it number one
and qualify for it number. Two so price and interest

(01:48:07):
rate and insurance all of those things are important to
kind of giving information you. Need you need information to make. Decisions,
Right but are you in the. Market should you be
looking at? Home should you have talked to a loan?
Originator should you be getting listings from a real estate?

Speaker 6 (01:48:24):
Agent?

Speaker 5 (01:48:24):
Yeah, like if that's, you you should you should have
all that stuff lined.

Speaker 7 (01:48:27):
Up, yep you, should because it's almost let's do the open, House.

Speaker 3 (01:48:31):
Florida i'm, sorry talk real estate dot com if you
need a prospro like. That if you're looking to buy
a home seller homestock on the.

Speaker 2 (01:48:37):
Home we don't know what to do.

Speaker 3 (01:48:38):
Or Remember, florida talkrealestate dot com and, Yes, jim we
have an open house at.

Speaker 7 (01:48:42):
All, yes, detail that's so, sorry, Hey.

Speaker 8 (01:48:45):
Chris Chris peterson From Keller Williams innovations is going to
be at Five DAN B D a N B Y
place In Boyton beach And Poyton.

Speaker 7 (01:48:54):
Lakes great.

Speaker 8 (01:48:55):
Community this is a single family, home three, bedroom two,
bath about fourteen hundred square feet under air and almost
two thousand under. Roof it's got two car. GARAGE cbs,
construction a really great part of the neighborhood in a
cul de sac walk to the community. Pool they actually
have two community pools there and brand new twenty twenty five.

(01:49:18):
ROOF i don't even know if it's ninety days old,
yet that, roof it's brand, new. Guys so go out
and Meet chris over there five dan B Place point And.
Beach he'll be there from eleven to two o'clock. Today
go out there and take a look at the property.

Speaker 2 (01:49:33):
And details On Florida talk Real estate facebook.

Speaker 7 (01:49:35):
Page, yeah facebook page.

Speaker 2 (01:49:37):
Today so if you're.

Speaker 3 (01:49:37):
Driving and you didn't get that, information Remember Florida talk
Real estates facebook page for that open house. Details they're
kicking it off basically right now eleven to two.

Speaker 2 (01:49:46):
Today and who else is out there with them?

Speaker 8 (01:49:47):
Today, Oh i'm sorry AND i forgot to mention. That thank, You,
johnny you have a good. Memory Haley marguerite's out there
From Kellorwins. Innovation she's another great, agent just helping Support
chris on this, one.

Speaker 3 (01:49:58):
So, fantastically meet some prospros and of course get out
and see a remarkable opportunity In Boyton beach eleven to
two with the details Of Florida talk Real estate facebook.
Page Florida talk Real estate also has a YouTube page
That's Florida talk Real ESTATE. Llc home of a ton of,
informational chunk videos for you to, consume share and. Enjoy

(01:50:21):
some very, informational and there's even some entertaining ones on.
There some of the informational ones might even have a
little entertainment in. There that's that infotainment we try to
give you Every. Saturday thanks for streaming with, Us thanks
for being with. Us always remember floridatokreestate dot. Com that
is your one stop real estate. Shop we dub it
that for a. Reason you get the whole team pros,

(01:50:41):
pros experts in their. Field and if you're looking to
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you're doing it, cohesively sell a, buyer you're stuck with a,
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labs including your very own with the prospros Of florida

(01:51:03):
talkreestate dot. Com Mike, rowl the mortgage guy from the mortgage.
Firm have a great, weekend YouTube. Brother thanks, everybody enjoy the.

Speaker 2 (01:51:09):
Start of your. Passover, okay we'll, do please. Insist, jimmithy
thanks for the wardy. Decals thank, You. Johnny have a great.

Speaker 3 (01:51:17):
Weekend, guys enjoy the start of your passover as. Well my, dude,
WELL i appreciate. It And jimmy D i hope you
have a great, weekend including the start of your.

Speaker 8 (01:51:23):
PASSOVER i wish nobody showed me the wordy, thing the wardy.

Speaker 2 (01:51:27):
Thing Next, Saturday Florida, Talk Real, Estate Real radio