Property appraisals. Interest rates. Home owners insurance

Episode Transcript

Speaker 1 (00:14):
Navigating today's real estate market can be tricky. Wanta buyer,
soela house finance, or insure a house, or stuck with
a house and don't know what to do. Florida Talk
real Estate has been your local one stop real estate
shop since twenty twelve. Get the advice you need from
your local real estate pros. Here are your hosts, Jim
Depola and Johnny c Live on Real Radio.

Speaker 2 (00:36):
Good Saturday morning. Welcome to another edition Florida Talk Real Estate.
We got you for the next two hours of infotainment
live on this twentieth day of September. Thanks for being
out there, ninety two one one one seven. Thanks for
tuning in the old terrestrial radio. Of course, if you
have your free download your iHeartRadio app. That's a free download.

(00:56):
By the way, I'll say it again, echo echo, that's
it's wonderful access world wide access. To be really frank,
you call me Johnny instead, but that's an amazing thing.
Free download, worldwide access. Get you some of course, we
live stream on a Saturday as well. Join us on Facebook,
Florida Talk real Estate on Facebook. On YouTube, Florida Talk

(01:18):
real Estate LLC on YouTube. Home of a ton of
informational chunk videos, plus our live stream on Saturday. If
you're there, thanks for being there out the gates. If
you're not, you can join it anytime, even after the fact. Enjoy.
Of course, you can always be a part of the program.
Toll free at eight seven seven nine two seven six
nine six nine. Questions, comments, concerns in the world of
real estate. Hit us up. The first voice you'll hear

(01:40):
the melodious tones of our producer extraordinary. There's Jimithy, my
brother from another mother. What up, dude?

Speaker 3 (01:45):
Hey, Hey, good morning, Johnny, good to see buddy. How
are you today.

Speaker 2 (01:48):
I'm really good, good to see you as always excellent,
love it and yes, Saturday, get you some Johnny C.
That's me, your old buddy, your old pal. Here's just
starting to line up on a Saturday morning. Nice to
say good morning to aj Holman.

Speaker 4 (01:58):
He brought in.

Speaker 2 (02:00):
Bread to try to get on my good side right
out the gates.

Speaker 4 (02:02):
Sead of that. He doesn't need to do that.

Speaker 2 (02:04):
Fail. Yeah, Experience Experience appraisers dot com. There's a j
how are you buddy? Very good, very good, awesome, Get
in your mic. Everybody needs to hear the loud.

Speaker 4 (02:12):
Tones bribes are always welcome. I'm sure, right, I.

Speaker 2 (02:16):
Don't you didn't hear me say no?

Speaker 4 (02:17):
Thanks? That's for sure.

Speaker 2 (02:18):
I think my exact words work.

Speaker 5 (02:19):
Do do you see any over here?

Speaker 2 (02:22):
I don't know do I No? You don't? You know why?

Speaker 5 (02:24):
Because I hated.

Speaker 2 (02:28):
That was great? It looks it looks delicious. It's good.
It is really good. I have to keep I notice.
I keep looking at it like, yeah, thank you very much, aj,
thanks for being with us, and thanks for your generosity.
Of course, I'll say good morning to our fearless leader
as well. Thirteen plus years now, I've told you he
runs a top producing Keler Williams team, the Florida Home

(02:51):
Pros Team, Keller Williams Innovations. You'll find Jimmy d there's
jim Dobolo.

Speaker 4 (02:55):
Jimmy, how you be doing great?

Speaker 6 (02:57):
Shohnny? Hey is Jacob warning?

Speaker 4 (02:58):
Yeah?

Speaker 2 (02:59):
Banana bread?

Speaker 6 (03:00):
Do you have bready put in a car? I'm gonna
eat it right after I'm done. And I love banana bread.

Speaker 2 (03:03):
Oh you dash it because you're like Jimmy's gonna eat
that joke.

Speaker 6 (03:06):
Damn right, Yeah, I'm a big banana.

Speaker 2 (03:09):
Do we find your jones? Is that like your stuff?
Is that your crack.

Speaker 3 (03:12):
It's just very good. I mean it's not anything in particular.
You know, I always crave banana bread, but this was
very good.

Speaker 4 (03:18):
Nice.

Speaker 6 (03:19):
Oh I like banana bread. I kind of anytime I
can have it, I'll take it. So, thank you so much.

Speaker 4 (03:24):
I was making it all night.

Speaker 2 (03:25):
Gosh, be slept.

Speaker 6 (03:30):
So Johnny, you know what I was thinking when you
were saying that whole thing. You've probably said that a
few times over the years, right, that whole intro.

Speaker 2 (03:38):
Well, so, I mean it has changed a little bit,
a little bit.

Speaker 6 (03:42):
I have this down. Pat He comes in two minutes
before the show, plops in the chair, just says this thing.
It's so awesome classic. It's like total total pro right do.

Speaker 2 (03:51):
You mean DJ any monkey can spin a record?

Speaker 4 (03:54):
I'm sorry thebage?

Speaker 2 (03:55):
Yeah, that's very offensive.

Speaker 4 (03:58):
It's not my wheelhouse.

Speaker 2 (04:03):
No I'm kidding, No, I'm not at all.

Speaker 4 (04:04):
Now, okay, I won't do it again, thank.

Speaker 2 (04:07):
You, thank you very much. Now it takes actual skill.
There's a skill set to talking.

Speaker 6 (04:13):
He's not joking. What's reminded me of today when I
heard that, and I've talked about this before. Maybe I'll
put up the videos on Facebook again. Like revive them.
But when we were doing the Love Doc charity the
last year for the Love Doc charitys we were trying
to raise money for the Love Doctors. So I went
into the student and I asked everybody to do a
little short video so we can put on Facebook to
get more things. So first up is doctor Rich right,

(04:38):
total pro yeah, one cut right right. He asked me
a couple of questions. He goes, okay, I'm ready, right right,
doctor Glenn. Oh my god, it was actually comical, right,
The whole thing was comical, and he could not get
it right. All he had to say was, if you
love the Love Doctor Charities, you got to like Florida

(04:58):
talk real estate with Robert.

Speaker 4 (05:00):
That's why we were right.

Speaker 6 (05:01):
Oh my god. He could not get that right right.

Speaker 4 (05:04):
He could not.

Speaker 6 (05:04):
He couldn't get like the like and the love. He's like,
if you like if he actually said, if you like Florida,
if you like Florida talk or talk roast, then you
gotta love the Love Doctor. And then he stopped and
he's like, that doesn't sound right right. I'm like, no,
doctor Gwen, this is what he couldn't get it right.
I finally gave up he just didn't get it right.

Speaker 7 (05:22):
That sounds like their entire show condensed into a short story.

Speaker 6 (05:27):
Well tell me about There was one more though, but
there's one more Dano, right, so Dano, Oh my god.
The video for Dana was hilarious because Dano looked so
nervous being on camera and I'm holding the flip phone
for me, you know, yeah, you know, for Jesus sakes, right,
don't look for fliphon. It's like something equipment over there.
And this so show how long ago flip phone? Right, So, anyway,

(05:52):
he looked so nervous, and he looks so nervous in
pain to say that. Thirty seconds right, then I get
to Johnny. He plopped in the chair just like doctor Wretch. Right,
one take Johnny. He's in there, boom boom boom perfect.
He out of perfect like doctor Rich. And I was like,
that is a full experience at w cc R, right,

(06:14):
the old station. It was awesome. But maybe I'll take him.
I still have him I came across from recently. Maybe
I'll just throw him up on Facebook just for the
heck of it, little throwback, Yeah, just to see you.

Speaker 4 (06:26):
Yeah, I see that. Yeah, I bet you.

Speaker 2 (06:27):
I'm I bet you I'm seventy eighty pounds heavier. Oh yeah, yeah,
I mean I'm big enough. I was a huge bitch. Probably.

Speaker 6 (06:40):
Yeah, you might not want to.

Speaker 2 (06:41):
Oh, I bet you watched the video. You're like, can
you hear him getting fat? He's not even eating the
banana brea.

Speaker 4 (06:48):
You're seventy pounds lighter now?

Speaker 2 (06:50):
Oh easy? I bet you that video. I bet you
I'm like three twenty. I'm like, oh wow, congratulations, Well
I believe you want you want to hear something awesome?
I guess I lost one hundred pounds twice.

Speaker 4 (07:03):
Oh wow, the pounds.

Speaker 2 (07:05):
Yeah, I've been for five years. It is.

Speaker 4 (07:11):
Ver there.

Speaker 2 (07:12):
I didn't even know.

Speaker 6 (07:14):
I'll take two right, Yeah, that's funny. I got a lot.
We have a lot to talk about today. We're gonna
do shout outs in just a little bit, but a
lot of a lot of interesting news. So glad to
have a j here. We're going to talk a bunch
about appraisals today. We just had an appraisal fight in
that house one of my shout outs. So we're going

(07:35):
to be closing in an Okalla area home. We had
an appraisal problem, so it's perfect. AJS here. We're going
to talk a little bit about that, and we're going
to talk about this unique housing trend that's happening a
little bit throughout the state UH, dealing with new construction
and resale that a lot of people aren't talking about.
We're also going to talk about when do you need
to hire an appraiser? Right, A lot of people don't

(07:56):
understand at what point when do you need an appraise? So
I don't know how many times he tells me he
turns down work because he doesn't think it's worth the
people to do.

Speaker 7 (08:04):
Tell people you don't need you don't need me, here's
what you should do instead.

Speaker 6 (08:08):
And then we had two very interesting articles that I
thought we'd talked about today. One is from a governor
candidate for Florida who says he wants to end private
insurance coverage for hurricanes and have it a natural disaster.
So I should say and have that all government, completely
government controlled insurance. Just for that facet kind of interesting,

(08:32):
we'll talk about it. I don't have any opinions. I'm
just telling you the ideas. Everybody's floating out all these ideas,
So this is a new idea.

Speaker 2 (08:39):
Who's who's the candidate.

Speaker 6 (08:40):
Uh oh, jolly David. Yes, yes, David Jolly was. I
didn't know this much about him. He was a Republican,
then became independent, and now he's running as a governor Democrat.

Speaker 4 (08:52):
So for he went the whole thing right.

Speaker 2 (08:55):
So he was a he was a news talker for
a number I didn't well he went government to you know,
one of the network kind of talkers that would just pop.

Speaker 4 (09:07):
In and oh, I see.

Speaker 2 (09:09):
I want to say, I want to say he was
I don't want to. I feel more like he was
ms NB. I'm not sure.

Speaker 6 (09:16):
I've heard of his name a lot, but I didn't
recognize his face.

Speaker 4 (09:20):
Yeah.

Speaker 6 (09:21):
Now, the other thing that's really interesting is there's another
representative for Florida that is now saying that he has
some answers to how we would get rid of property taxes?

Speaker 2 (09:31):
What would what would you to replace the revenue?

Speaker 6 (09:34):
Yeah, one of them, I'm going to give you a
little I don't want because it's gonna when I say that,
you're going to have a reaction. So I don't want.
I don't want to get into it now. Okay, I
promise we'll get into it later in the show, because
it's pretty amazing. When I read it, my mouth drop.
Five percent, Uh, sales tax every time you sell a home. Okay,

(09:54):
and uh we'll talk about how that would look, and
that would be one facet but that's one of that's
that isn't all of it, but that would be a
big piece to get rid of the property taxes. But
there's other stuff, so we're going to get into that
in a little bit too. So I thought that's kind
of interesting.

Speaker 2 (10:10):
That's a fun numbers game, is what it is. Yeah,
it really depends on the market. If you have a
market that churns a lot.

Speaker 4 (10:15):
We're not Yeah, exactly.

Speaker 6 (10:17):
I know it's so tempting to get into it. Yeah,
I know they got.

Speaker 2 (10:21):
Away, but what are you doing putting it all out?

Speaker 6 (10:24):
That's why I'm doing before. We're making people don't. Yeah,
we're gonna talk. We're gonna talk about this, but not
right now. Okay, So let me just get it a
couple of shout outs. Uh, oh my god, I'm so
happy about this one. Yesterday we closed on a house
and port Saint Lucy for Michelle and my one of
my favorite all time first names for one of my customers, Cisco.

Speaker 4 (10:47):
That Cisco.

Speaker 6 (10:49):
I know, yeah, I know. All I think about is
that's that song. Cisco was a friend of mine, you know,
talking about it was the nineteen seventies. Now, if I
had my medaglass, i'd a kid. K Kid was a
friend of my friend.

Speaker 2 (11:08):
I mean, I do I know that. I think, Oh, yeah,
a song. I think of the song.

Speaker 6 (11:13):
Oh I remember that. Yeah, I remember that.

Speaker 2 (11:15):
His real name is Mark by the way, But Cisco
he was, and Drew Hill he had a solo career.

Speaker 6 (11:19):
Come on, pretty bad. Yeah, I'm old, I don't.

Speaker 4 (11:22):
I don't know that one.

Speaker 6 (11:23):
Unfortunately, I'm bad about that. But congratulates them. They sold
their home in Port Saint Lucy. It was in a
really nice community called Copper Creek. It took a little
while to sell it. What was unusual about that house,
It wasn't. Uh it was the layout. And this is
the second, well actually the third time in a year

(11:44):
and a half that I had a heck of a
time because of the layout of the house, and there
was nothing anybody could do about it, just the way
the layout is in Port Saint Lucy. There's a lot
of homes that were built like the early to mid
nineteen eighties where you have this living room and then
one while the living room is the back of the kitchen,

(12:04):
and then around the corner from the living room is
a little dining room and it usually looks over a
sliding glass store into the backyard, and people hate that
and they want to break over in the kitchen, just like, yeah,
that's true, right.

Speaker 7 (12:18):
It used to be like that, Like Atlantis I every
house that hasn't been remodified. You walk in there and
the first thing you see is a wall, right, because
that's the way it used to be. The foyer had
a formal foyer. The kitchen separated from the living room.
And this isn't this is why they keep the women
in the kitchen, and that's just not the way the

(12:38):
world is now.

Speaker 6 (12:39):
Fifty years and everybody that walked into that house wanted
to open up the kitchen, and there was no way
to do it without losing half your kitchen cabinets and
you wouldn't have any story, right, There was just nothing
you could do. So everybody just didn't like it. And
you know, you just can't do anything about that. You
just got to wait for the person that's okay with it.
And it's not bad, it's just that it isn't tuned.

(13:01):
So this one, it had a really small living room
downstairs in an open kitchen. There was hardly even any
dining room space. And it was a two story house
and they had a big loft upstairs, and if that
loft was downstairs.

Speaker 4 (13:15):
Yeah, it would have changed the whole game.

Speaker 6 (13:16):
The whole thing would have been different. So everybody came
up it's like, there's where am I going to have
Thanksgiving dinner? And blah blah blah. So anyway, we got
that house sold.

Speaker 4 (13:24):
Though.

Speaker 6 (13:25):
I was really really happy we got to close yesterday.
It was really really good. Didn't find out until the
middle of the deal that not the middle deal, that
as we're closing that they almost were in foreclosure for
ha problems. I had no idea, and the fine the
fees were racking up, and I had no idea about it.
Nobody mentioned it to me. I guess they were embarrassed

(13:46):
or thought it wasn't a big issue. But it was
so tip out there. If you were a trowle your
hay or something like that and you're selling your house,
you gotta tell your realtor what's going on because it
could be big problems.

Speaker 2 (13:57):
So that all has to be dealt with before the
title change.

Speaker 6 (14:00):
Ye, no, not really. Well, yes, what happens is all
gets paid off at closing and then.

Speaker 4 (14:03):
They'll issue in a stop a letter, but not until
they're paid off.

Speaker 6 (14:06):
Right, Yeah, So it comes out of the proceeds of
the seller. Okay, the money that the seller gets comes
out of their money.

Speaker 2 (14:14):
Okay, not the bar Okay. So I guess if you're
on the buy side, it's transparent to you.

Speaker 4 (14:19):
It doesn't matter.

Speaker 2 (14:20):
Yeah, it's kind of okay, it was, it doesn't happen.

Speaker 6 (14:23):
But yeah, but when they were trying to budget how
much money they were going to get at closing, I
didn't know about that. So my sellar net sheet, right,
I'm on the cell side, so the seller.

Speaker 4 (14:34):
Net sheet changes.

Speaker 6 (14:35):
Yeah, it was dramatically different to what they were supposed
to get, and I felt bad about that, but you know,
it was so nice.

Speaker 2 (14:40):
But I suspect they probably knew that.

Speaker 4 (14:43):
Oh they knew.

Speaker 2 (14:43):
That's it.

Speaker 4 (14:44):
I've had that happen before too, Jim.

Speaker 7 (14:46):
At the end of the deal, I'm like, what what
do you mean the twenty five thousand dollars payment out
of proceeds?

Speaker 4 (14:51):
I had no idea. Oh yeah, that person's way behind
on this or that brutal.

Speaker 6 (14:57):
Yeah, so I'm really happy that that we got done,
and thank you. Shout out, so shout out to Michelle
and Cisco for allow me to help them with that.
And also thank you to Mike. Mike has been a
big fan of the show and he he called me,
I guess about two years ago, three years ago to
sell his mom's home. And then I met his sister, Diane,

(15:20):
Mike's sister Diane, and then Mike called me earlier this
year and said, my daughter needs to sell her house,
and then my sister needs to sell her condo and
she's moving to Missouri. So I took care of all
three properties. Diane's properties under contract were supposed to close
either next week or the week the twenty six, whenever
the twenty fifth, so I think that's next week. Thanks,

(15:42):
so we're but that'll be a shout out for next week.
What really made me happy.

Speaker 4 (15:46):
Hold on here is everybody, just hold on.

Speaker 2 (15:50):
Yes, sorry six and that's toll free in the studio
if you'd like to be a part of the program.

Speaker 6 (15:56):
Oh, I can't find it. But anyway, one of the
one the seller sent me a really nice text saying
because it was a tough closing. The closing was pushed
back thirty days because the person I remember I mentioned this,
the person lost her job in the middle of closing
on the deal. So it was a husband and wife
buying the house. Then the wife lost her job, so

(16:17):
now they didn't have enough income anymore. So then they
had to mess around with the husband's income and some
extra money he was making, and then filed with the
irs and then come up with a payment plan and
that all took like thirty forty days to get that done.
So we had to push the closing back, and we
were fighting a nature way problem, right, So the HS like,
give me my money, give me my money, and then
we couldn't close on time.

Speaker 4 (16:39):
Was more money, man, yeah, I want my money.

Speaker 2 (16:40):
There's more money.

Speaker 4 (16:41):
Make two dollars two dollars. Yeah.

Speaker 6 (16:43):
But they sent me a really nice text when the
whole thing was finished and said, I can't believe how
hard you worked and how communicative you were, and you
were always there. We knew what was going on, so
I really really appreciate that. Making skiel good.

Speaker 2 (16:56):
Yeah, it doesn't, it doesn't. They didn't have to do that.
And the fact that they took the moments to send
you that. That's yeah, it's really nice.

Speaker 6 (17:01):
And Mike didn't have to give me all his family
to help work with them. So thank you, Mike. I
really appreciate it. Thanks for the trust. Yeah, I want
I thought it was two fifty. I didn't know it
was two dollars.

Speaker 4 (17:16):
That snow skiing movie that was John Off Dead.

Speaker 6 (17:20):
Yeah, yeah, jo each. I wanted to do a shout
out to Victor. We just put his house under listing
contract yesterday. We're gonna shoot the photos on Tuesday. Uh
aj saws this house before. It's a house in West Palm.
It's a four bedroom, two bath home. It's centrally located

(17:40):
near Haverhill and southern basically from that are Yep. Good
commuter house like es centraal equated everything and uh it
has a twenty nineteen roof and we're going to put
putting on the market at three seventy nine nine. So
four bedroom house under four un tree thousand and Palm
each county, single family know each way.

Speaker 4 (18:00):
Wow. So good good yard yep.

Speaker 6 (18:04):
Nice, nice big yard, not fence, not fully fenced so
that yeah, but it's really good trees yep. So thank
you Victor three wind of eyeballs.

Speaker 4 (18:16):
Yeah, yeah, I hope I ran the comps on it
for him.

Speaker 6 (18:19):
I warned. I warned the seller that I'm hoping even
though it's been a little slow in the market, I
think his house is going to show like a hotel.
It'll be in and out, in and out, in and out.
So he had to be prepared. You be prepared for
a lot of showings.

Speaker 7 (18:33):
I think it's a it's a good investor house, and
it's a good possible homeowner house.

Speaker 4 (18:38):
You know.

Speaker 6 (18:39):
It's funny. A lot of the investors. I had a
lot of investors look at it off market, and they
turned it down a bunch of times. I swear that
I know that some of the investors are going to
come back and turn it offers now, right, and they
should have just done it when it was off market.

Speaker 4 (18:53):
But whatever.

Speaker 7 (18:54):
Yeah, but you know, they're like wholesalers. They're you got
to count your fingers when you're done shaking their hands.

Speaker 1 (18:59):
Now.

Speaker 6 (19:00):
Yeah, that's to make sure. I want to do a
shout out to Rick. B Rick trusted me to sell
his home so he can move with his brother up north.
That's the log cabin home we got that under contract.
In fact, Johnny's family actually looked at at one point
and a couple of times liked it a lot, but
the assurance was just too high for your budget.

Speaker 2 (19:20):
Couldn't quite make it in the budget.

Speaker 6 (19:22):
Yeah, we are having a lean problem on that. We
found out that the building department has problems with the
permits and working on that now. So it isn't a
guaranteed deal. But I'm really glad we got him under contract.
The family buying it really wanted I heard they want
to keep it just to their put their boat there.

Speaker 4 (19:40):
Probably did I got a fifty boat, Like, what do
you put it in the water?

Speaker 6 (19:45):
Yeah?

Speaker 4 (19:46):
I know, right, plenty of room.

Speaker 6 (19:48):
I'll pay five hundred thousand dollars to store.

Speaker 4 (19:50):
My boat was a fifty trailer.

Speaker 7 (19:53):
They're like, yeah, we might just buy it, you know,
just to put the boat here.

Speaker 2 (19:58):
Okay, man, that's how wish I wish I had.

Speaker 4 (20:01):
Yeah. Yeah, and then.

Speaker 6 (20:04):
Yeah, I got my fingers crossed. Everything that's going to
work out.

Speaker 4 (20:07):
I will.

Speaker 6 (20:08):
I will too. I'd be really happy because he needs
he needs that deal to close. The other thing is
is I wanted to just a little tiny shoutout to James.
I'm going to be seeing James today right after the show.
He needs to sell uh one of his properties that
his mom owns. And I know that neighborhood really well.
I was over there o Summers showing some first time

(20:30):
home buyers this neighborhood. It's one of those town homes
that's a two bedroom, two and a half bath town homes,
two stories with the little courtyard in the front and
the sandal wood stop. So those properties are super properlar
even in the slow market. I just checked the actives
over there. I did a very narrow comp not all

(20:52):
of that area because there's a lot of homes like
that out there, but there were seven active and four pending.
That's a very strong neighborhood. I just looked at one
where there were twenty seven active and two pending.

Speaker 4 (21:05):
Say, there's only seven actives in there.

Speaker 6 (21:07):
Yeah, well, I did a very tight comp. I didn't
do the whole neighborhood. I did a subdivision of that
neighborhood because there were so many choices. Might just stay
as close as you can, Like next door just sold
for that. Next Door just sold for that because all
the prices are the same out there.

Speaker 4 (21:22):
It's one sub market.

Speaker 6 (21:23):
Yeah, it is. It's a little thing. So anyway, I'm
looking forward to meet James out there today and go
figure out how we're gonna help him with that situation.
Get all his answers I worked on. I also want
to do one other thing. Nobody has to help. This
is all spur of the moment. But remember that guy
Ceron who has the Knights of Pythagoras Mentoring Network.

Speaker 2 (21:47):
A few times over the years.

Speaker 6 (21:49):
Yeah, we donated a car for one of the kids.
He has an at risk kid program that's been going
on now for over thirty years, and Delray, he basically
funds the whole thing himself for thirty years. This guy's
been doing this.

Speaker 2 (22:05):
And you have ties to it for many of those years.

Speaker 6 (22:08):
Yes, and he's very repel You couldn't get more repeo
charity and all the money goes to the kids. He
doesn't take a dime, that's okay. And he's been doing
it thirty years and he's just such a I had
a friend he was listening I was talking a couple
of days ago. Seyron and the kids like that guy's
a saint, and I'm like, yeah, it really is. So anyway,

(22:31):
he has a small podcast that he runs for his kids,
and he has the kids doing the podcast totally by themselves.
He just has adults kind of helping him get book
guests and things like that. And they have like the
mayor for Delray and the new police chief was just
on the show, and it's just kids asking and it's
the whole point of it is to have kids understand

(22:51):
that there's a bigger life, especially poorer kids, that there's
a big life out there. You could do anything you want.
And he tries to give the adult supervision to let
the kids make the dreams that they want. Yeah, same way.
They've had this podcast for years. And he just told
me yesterday that the computer is really really really slow,
and he's looking to buy a computer that's going to

(23:13):
work for the podcast. He used the same system that
we use for our show, the stream Yard system. So
I'm going to ask the public to help me out.
I want to buy a computer for these kids and
you know, make it happen for him. I would like
to get a Mac fifteen inch MacBook Pro if we could,
mac Bookero would work too. They're like fifteen hundred bucks.

(23:34):
So if anybody feels like they want to contribute it
all you're not going to be giving me the money.
We're going to make sure it goes directly to the charity.
But I would love to raise the money to get
the computer. Sooner than later. I'm going to be making
a big donation. I would love if we could raise
seven hundred and fifty dollars. I will match that seven
hundred and fifty if we can get it. So, if
anybody wants to be involved in that, please just reach

(23:56):
out to us. All you gotta do is all you
gotta do is reach out to us.

Speaker 2 (23:59):
Yeah, you do that. Find us on Facebook Florida Talk
real Estate. It is a dot com. Florida Talk real
Estate dot com is your one stop real estate shop.
There's a contact page, there's a hotline. You could even
do that. Call the halling eight eight eight nine seven
three seven eight two eight and let them know, like, hey,
here's my information. I wanna you know, I want him
to call me back. I want to make a donation.

(24:20):
It could be that simple, but there's a bunch of
ways to get in touch. Always remember Floridatalkrealestate dot com.
Always remember Florida Talk real Estate on Facebook. There's a
great way is to have access to the entire team.
And it's specifically in this instance, if you got a
few bucks, if there's a bunch of us just giving
a couple bucks, we'll get there quickly.

Speaker 4 (24:36):
Yeah, I'll chip in on that.

Speaker 2 (24:37):
Yeah, you got one person laying out episode and eat,
we get there even quicker.

Speaker 6 (24:40):
Everybody, right, everybody. Everybody gave ten dollars and we got
seventy five people gave us ten dollars. Boom, we're there.
We're not asking for a big, gigantic donation. Any little
bit helps. That's how this that's how this scroup's been
running for thirty years. Is people given five dollars, ten dollars,
twenty dollars, whatever they can afford.

Speaker 2 (24:59):
Well, you mentioned the doctor charity out the gates, and
you know you can. You can raise a lot of
money if everybody gives a little bit.

Speaker 6 (25:06):
We we were brand new, that was our first year
on the show, and we raised six thousand dollars for
the Love Doctors that year.

Speaker 4 (25:13):
That was major.

Speaker 6 (25:14):
I was so proud of that, and I was so
looking forward to do it at the next year is
like next year, and then they stopped it and I
was like, oh man, I was so looking at the
twenty four hours, going to try to squeeze my way
into that twenty the twenty four hour Christmas.

Speaker 4 (25:28):
Show, the marathon, Yeah, the marathon.

Speaker 6 (25:30):
I was going to see if I could grab a
little bit of time in that because I was so
you know, I love the love doctors.

Speaker 4 (25:36):
That I love. Those guys were really locally. It was
pretty cool, they truly were.

Speaker 6 (25:41):
But anyway, anybody that can help really appreciate it. Also,
if anybody wants my weekly email newsletter, you know, let
me know. We have a pretty big database that we
send it out to about five thousand and six thousand
people every week. We give a really good information about
what's happening in the market today. But this email is
going to be also about at the top, it's gonna

(26:02):
be hey, can you help the kids good? And so
if you get that email, that's gonna be another way
to reach out.

Speaker 2 (26:08):
Include a little link to their talk.

Speaker 6 (26:11):
I'm gonna talk to them and figure it out, because
that's the way I like to do it.

Speaker 2 (26:14):
Or because as easy as if you can, just here's
a link to donate, Because if people go to you,
then go to that and then donate, you're making too
many hurdles you know.

Speaker 6 (26:22):
Yeah, so we're gonna do it. I'm gonna have more
information next Saturday. It's a good and he probably has
one of those what do you call his pages where
you ask for people to you. I'm sure they've got
to go fund me things, so we'll just use their
links so I don't. And it's a total Yeah, it's
a total five oh one three C. So it's total
tax deduct deductible. It's a total regulated five oh one

(26:46):
three c charity.

Speaker 2 (26:47):
So anybody I would like to think that considered, considering
that they make it as easy as possible.

Speaker 6 (26:53):
I hope so too.

Speaker 4 (26:54):
Yeah.

Speaker 6 (26:54):
So I'll get the go fundme and put it on
the Facebook site and I will talk about it next
week also when I get the GoFundMe page. But any
help can help.

Speaker 2 (27:04):
Or so currently if you want to help, you can
reach out Florida Talk real Estate or on the Facebook page.
But maybe next week we'll give you a direct link.

Speaker 6 (27:09):
No, we're definitely gonna do that. I'll make sure I'll
talk to you about it. I've tried to do surprise,
but now it makes sense. I'm going to go ahead,
and ye ye makes sense, Okay. I just wanted to Uh,
let's see, we're gonna wrap up this segment just with iguana.
So you know, I always love talking about the crazy
Florida stuff, right, So now there's a whole thing about iguanas.
Remember we talked about it a couple of weeks shows

(27:32):
ago that they changed regulations where now they're going to
allow you to trap and trap and ship and sell
iguanas out of the state. Oh yeah, we maybe you
weren't there that week, but we did talk about this
about two months ago or something, but they changed regulations

(27:53):
that now not only can you kill the iguanas, but
you have to kill on a certain way. Don't go crazy, right,
they have certain regulations and how you kill the iguanas.
But now they're allowing you to trap it, ship it
to other states and make money off of it.

Speaker 7 (28:08):
That's the way to control the problem down here is
find a way to make people make money at it,
you know, because people hate them. I do so many
water front appraisals and people over there doc pooping everywhere,
and if somebody was out there, you know, get them
for free.

Speaker 6 (28:24):
Well that's why that's why they're doing this, is they
feel that they need more help from the public. To
control these iguanas. So they felt that if they could,
if they could find a profit motive, maybe people go
out there and do it now.

Speaker 2 (28:38):
Supposed to and got a good response.

Speaker 6 (28:41):
Yeah that's true. That's true. But we're not taking the
pythons and shipping them to Georgia, Tennessee. It's like was
shoving our problem over to other people. Hey, we don't
want the iguanas.

Speaker 2 (28:50):
Do you want to Well here's here's here's my question.
You have to ship them live.

Speaker 6 (28:54):
Oh yeah, this is for this.

Speaker 2 (28:57):
Yeah you said trap and I'm like, so that no lives.

Speaker 6 (29:01):
They're shipping them as like pets or whatever.

Speaker 4 (29:03):
You can't.

Speaker 7 (29:04):
Here's the thing about lizards like that. You've got to
raise them from when they're babies. You can't take a
three foot iguana. Here's Jimmy, here's pet.

Speaker 4 (29:13):
You know.

Speaker 6 (29:15):
Well, well there's a controver. There's a controversy with the
with the iguana killers. Now you know they have the
whole industry where people you could pay people to come
out and kill your ajuanas. Right, Well, those guys are
saying this is not a good idea, right these guys,
because what they're saying is, but you'll.

Speaker 4 (29:32):
Never believe you're spreading them on purpose.

Speaker 6 (29:35):
No, that isn't what they're concerned about at all. What
they're concerned about is that, I know, but they're concerned
about else. But they're concerned about is And this is
kind of funny what you what you guys are talking about,
was what normal people think. But this is what they
think from from their domain. Right. Hey, it's really dangerous
to trap an iguana versus kill it because their claws

(29:57):
are really infectious with nothing else, and they can more
than just scratch you up stitches and bacteria and affections
and amputations. That's what they're saying in the news article. Amputations,
Like they're saying, if you have people running around doing this,
they're gonna get really eat up. I'm trying to do this.

Speaker 7 (30:17):
I would have thought it'd be better to just kind
of maybe back or finance a fast food chain that
sells iguantamy.

Speaker 4 (30:23):
I know.

Speaker 7 (30:24):
No, Now it's like the charity every you know, you
add in all these smaller people making money by catching
a few of them, and it's thousands of them.

Speaker 4 (30:32):
You know, if you have a good motivator in there,
some money.

Speaker 6 (30:35):
We need to do. We need to do a chef show,
like a show where the show's only like, no, not
just iguanas, like any kind of like invasive species, to
figure out how to eat it right and it tastes
good so that we can get rid of yeah like that,
yeah yeah, and like figure out all the crazy stuff

(30:55):
that we want out of our lives to figure out
how to eat it.

Speaker 2 (30:58):
So we know we know lionfishes really played it.

Speaker 4 (31:00):
I was gonna say, that's been very successful.

Speaker 2 (31:03):
Too, very desirable I have. I'm yet to try iguana,
but I hear ye.

Speaker 8 (31:09):
Yeah.

Speaker 2 (31:10):
If you can make iguana like where you almost desire it,
You're like, man, I want some iguana. We open a
food truck, you know, get like five food trucks.

Speaker 4 (31:19):
You guys are joking around, but I'm dead serious.

Speaker 2 (31:21):
Seriously.

Speaker 7 (31:22):
The first time I went to Coasta, Rica, because I
used to surf, this kid, I'm staying at this river mouth,
beautiful and ocean everything, and this little kid walks up
and we're looking at this iguana up in a tree
at least three feet and he picked up a stick
and knocked it out of the tree thirty forty feet away,
grabbed by the tail, looks at us and says dinner
and walked away little kid.

Speaker 4 (31:44):
Yeah, you know, but apparently it tastes like chicken. I
don't know.

Speaker 2 (31:47):
And if you if you can make it to where
again it's desired, where people like you know what, I'm
craving some iguanma. All of a sudden we have this,
I mean free supply right of endless menufair.

Speaker 6 (31:59):
Hey Food Network. If you come up, if you heard
this idea, you call me because we own it, because
you just said on air. Yeah exactly. So let's go
ahead and take a break. On the flip side. What
I'd like to talk about is when appraisals go bad
and another little trend that's happening related to that issue,

(32:20):
when appraisals go bad. Chris, We've got ajay from experienced
appraisers here, so this is a great time. If you
have any questions about appraisals or understand about your home,
got to give us a call.

Speaker 2 (32:30):
Yeah, absolutely, And of course if you got any other questions,
we can handle that. And if we need to get
into the expertise side, we got a team of pros
pros that we can lean on to get you the
answers you're looking for. In fact, you have access to
that always Florida Talkrealestate dot com. If you're looking to
buy a home, sell a home, you're stuck with a home,
you don't know what to do, or you have an issue,
anything that touches the world of real estate. Believe me,

(32:51):
I have a prose pro to handle so much for you,
including your very unique issue. Every situation is like a snowflake.
And believe me when I say it. Florida trealestate dot Com.
They've seen it, they've been through it, and they are
there for you when you're in need. Remember it, write
it down, share it. You can change lives, including your
very own, with the prospros at Florida talkreestate dot com.
We're back in four minutes. Thanks for being with us

(33:13):
every Saturday Florida Talk real Estate right here on Real Radio.

Speaker 1 (33:30):
This is Florida Talk real Estate. 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 ninety two, seven sixty nine sixty nine.

Speaker 2 (33:47):
It is eight seven seven nine two seven six nine
six nine toll free. We're looking at about nine thirty
eight on this Saturday morning. It's the twentieth of September.
We are live. Thanks for being with us. Maybe you're
on the stream, Facebook or YouTube, Florida Talk Real Estate.
I'm both thank you for being there, and of course
if you're just listening on the old radio or the app,
we appreciate you for being out there very much. You

(34:08):
can always join us eight seven seven nine two seven
six nine six nine. Jimithy o line yep, won't you
jimithy Hell yeah.

Speaker 5 (34:15):
Give us a call. Eighteen seven nine two seven six
nine six nine.

Speaker 6 (34:18):
Good morning, Johnny.

Speaker 2 (34:18):
How are you? Good morning, buddy, I'm awesome. So locker
room at eleven, Yes.

Speaker 3 (34:22):
Yep, locker room eleven, I think, broadcasting live from Drive
Shack very cool.

Speaker 2 (34:27):
And then we got a we got a very interesting
Florida Gator game. Then sure do. College Game Day is
down in Miami. ESPN's you know flagship college coverage show.
Gators are in town down there in Miami. All eyes
will be looking in tonight at seven thirty. That'll be
broadcast here on Real Radio.

Speaker 3 (34:46):
Sure yeah, I got a little four to thirty pre
game kickoff, so to make sure you tune in starting
at four thirty with a seven thirty actual kick of
the pigskin.

Speaker 2 (34:54):
That should be excellent. I'm sure the environment down there
is the fracuses against Yeah, that's good stuff. Gotta love
college football.

Speaker 5 (35:02):
In state rivalry big time.

Speaker 2 (35:03):
Oh yeah, no, it's gonna be good. Go Gators, come
on you ome a little something. They got beat last
year home a little something this year. They don't feel
great about it though, Jimmy, I don't feel great about.

Speaker 3 (35:14):
It, trying to think from all the past year they
do they play Miami every year.

Speaker 2 (35:19):
No, no, they had a long run without it, right, Okay,
And really it should be it should be a team
we play every year, but it's just not.

Speaker 3 (35:26):
They play Florida State every year every that's the one
they end the season every year with Johnny C.

Speaker 2 (35:31):
That's me aj Holmans right here. He's with Experience Praisers
dot Com. Great to have you with us on.

Speaker 4 (35:36):
A Saturday, my friend, Thank you, sir.

Speaker 2 (35:38):
And of course Jimmy D's over there. He's our fearless
leader thirteen plus years now. I've told you he runs
a top producing Calowoniams team, the Florida Home Pros Team,
Keller Williams Innovations, Jimmy Jim Depolo, how.

Speaker 6 (35:47):
You, Hey, Johnny. Thanks? Is can everybody on video hear us?
Because my thing keeps coming up saying Mike as muted,
So I don't know what's going on. So anybody on
Facebook YouTube just give us a little shout out and
tell us if you could hear me or not. Okay,
So it stopped again. Okay, so that's good. It isn't
doing that anymore. I've never seen that before.

Speaker 4 (36:09):
Pops up everything.

Speaker 6 (36:10):
Yeah, everything looks good. So a J. I had a
situation where I was helping one of my customers buy
a house in Dunellen, which is outside of a Calla,
and I'm not familiar with that area too well. But
we went up there and went house hunting and we
found a property and it was a twenty twenty It

(36:32):
was built in twenty twenty new construction, three bedroom, two bath,
like fifteen sixteen hundred square feet too car garage on
an acre lot. We just looked at another brand new
construction down the road. We actually put an offer on
and took it away for three hundred and ninety six thousand.
That house was only like two hundred square feet bigger, right,

(36:52):
So this one was three fifty five The other one
was three ninety six. We took the three fifty five
and we asked for three percent sellar cons uessians, which
haggled down to about half of that. And then when
we got the appraisal back, now we were at three
fifty five, the appraisal came in at three twenty three,
big time, like almost a ten percent drop on the

(37:15):
value of the home. Very shocking to sellers when that happens, right, shocking, right,
because they're under contract, they think closed.

Speaker 4 (37:23):
Get to the end of the road.

Speaker 6 (37:24):
Yeah, and then.

Speaker 4 (37:25):
Those stupid appraisers come.

Speaker 6 (37:27):
In those Yeah, that was crazy.

Speaker 2 (37:31):
He could say that because he's an appraiser.

Speaker 6 (37:33):
Yeah, he's allowed to say that.

Speaker 2 (37:34):
Was appraiser, right, one of his friends is appraiser.

Speaker 6 (37:37):
So yeah, exactly.

Speaker 4 (37:39):
So.

Speaker 6 (37:41):
I even remembered asking the agent before we went into contract,
do you think this house is going to appraise? She goes, oh,
no problem.

Speaker 4 (37:49):
Now.

Speaker 6 (37:49):
She was an awesome agent, right, She's a really good
person and very helpful, a lot of things that you
would want an agent if you had a you know,
if you were looking for an agent. She had a
lot of those qualities. But the one thing she doesn't
have yet, and we all have to start out this way,
no complaint, not a criticism, just a comment is an experience.

(38:09):
So she just hasn't done enough deals yet. She had
never had an ailse that didn't a brace.

Speaker 4 (38:14):
Oh yeah she doesence.

Speaker 6 (38:16):
Yeah, so she didn't, right, So she didn't even know
what to do. So I explained to her that we
need to do what's called a reconsideration, which is a
fancy term for hey, mister appraiser, we think you fed
up really bad.

Speaker 4 (38:30):
What the hell?

Speaker 6 (38:31):
What the heck are you doing to me?

Speaker 4 (38:33):
Right?

Speaker 6 (38:33):
That that's what reconsideration means, But it's a plight turned
to say, hey, did you just kind of relook at
this numbers? We got some suggestions for you. Now, we
went ahead and did that, and I explained to her
how to do it the way that AJ has taught
me over the years, and she didn't listen to anything
I said. She turned in all brand new construction, never

(38:53):
lived in homes. Our homes was five years old. So
what they said was the big complaint is they said
we were C two classification, but everything she turned in
was the C one. Yeah, so can you explain the
difference of those CLA short in a short way? Could
you explain difference in those classifications and what they really

(39:14):
mean and how it can affect the value of your property.

Speaker 7 (39:16):
Well, I will say I actually just had appraiser friend
a couple of months ago that Freddie Mack called him
a year after he did an appraisal and he marked
a home that was a couple of years old as
a C one because it was.

Speaker 4 (39:31):
In perfect condition.

Speaker 7 (39:32):
C one means I don't have the definitions in front
of me, but C one basically means a brand new house,
zero depreciation, never.

Speaker 4 (39:39):
Been lived in. C two is almost a C one,
but it's been lived in.

Speaker 7 (39:45):
And what people don't understand sometimes is you think, oh,
the appraiser's just doing this because he's being stubborn or whatever.
My buddy got called from Freddie Mack a year later,
said hey, we're going through your appraisals here and we
see that you use C two or a C one
designation for a two year old house. And he said, yeah,
but it was in perfect shape. But it absolutely you know,
And they said, doesn't matter if they've lived in it,

(40:08):
it's a C two.

Speaker 6 (40:09):
Can I just stop right there? This is something that
people don't understand about appraiser. So I just want to
bring it up. They're licensed, they have to take classes
and have to meet certain standards, appraisal standards, and if
they don't do that, they can get in trouble.

Speaker 7 (40:23):
They can get we got sign guidelines, we got federal guidelines,
we've got lender guidelines, and all of those are potential
flags for us.

Speaker 6 (40:31):
Right, so there's a lot of liability. They can't just
will and nearly come up with prices. And that's what
a lot of people don't get is like their profession
and what their constraints are of how they can evaluate properties.
They can't just do it based on their quote, opinion, opinion.
It has to be based on guard rails that are
set for them. And then they have a little bit
of wheat leeway in there because they're the eyes and

(40:53):
ears on the ground. But you can't, like this is
an example, it wasn't brand news, so it's not C one, right.

Speaker 7 (40:59):
And now you don't necess really have to adjust for
it being a C one versus a C two.

Speaker 6 (41:03):
Oh price, it doesn't automatically you have to adjust.

Speaker 7 (41:06):
And this is actually and this applies to a lot
of what we're about to talk about.

Speaker 4 (41:11):
But look, as a realtor.

Speaker 7 (41:13):
You can say, okay, I've got five comps here that
I can see from my home.

Speaker 4 (41:18):
They all have pools.

Speaker 7 (41:19):
I don't have a pool. Pools are worth twenty grand.
So if I do that adjustment, then I'm fine. But
you create those adjustments those values off of your own opinion.
And but appraisers we do the same thing, but we
have to back it with what we call bracketing, so
we have to prove. We have to statistically show if

(41:41):
there's a difference or not. So if I throw like
I start with twelve comps and a file, nine comps
in comparable sales and a file, even if I'm not
going to use half of them at the end, because
what I do is I put all those in there
and then I try to do adjustments, and this is
called market extraction or pay a sales analysis. So some

(42:02):
of those are going to have pools, some of them
aren't going to have pools. And it becomes so obvious
as you're doing the process of appraising that you go, Okay,
you start with I think pools are worth about forty
grand in this neighborhood, so you make that adjustment. But
then you do that for all these different attributes age,
like you're talking about new construction versus not new construction.
And then you see you have your top line number,

(42:24):
what it's sold for. You do all these adjustments, and
then at the bottom you have your adjusted number. Those
adjusted numbers will all gravitate towards a center point, and
then one of them will be a little high. Oh
why is this one high? Why is this one showing
a higher value than the others. Well, this one has
a pool and the other ones don't. And I adjusted
fifty thousand for that pool. Maybe that pool is actually

(42:45):
worth seventy thousand, you know, And you just keep doing that,
you keep tweaking and tweaking, and at the end of
it that you've proved out what those different attributes are worth.
So when you're asking, is a brand new home versus
a home that used home for lack of a better term,
only if my statistics show that there's a difference, is
there a difference?

Speaker 4 (43:06):
Ah?

Speaker 6 (43:06):
Okay, okay. And then so what she also did in
this case was she gave like three to five new construction,
brand new, nope, never lived in, and then she took
one resale and the resale was close like square footage
wise and everything, but it had a thirty by fifty
metal building on the property too, and they were like

(43:27):
a wild card and it was the same price it
was that it closed around three fifty something with the
building on it.

Speaker 4 (43:34):
And that's where she's going, Well, the building's worth X. Yeah,
how do you know? So you need to have.

Speaker 7 (43:40):
Other ones that are also use homes that don't have
the building to figure out what the building's worth.

Speaker 6 (43:45):
I don't. I don't know if you told me this, AJ.
But when you have a dispute on the appraisal, so
let's say that you're not happy with the appreisle, you
do this confederation right, never happens. But the things a
couple of things that people don't realize is when you
do the dispute and go, hey, wait a second, I
think the appraiser got it wrong, and let me give
you some figures and stats and houses to show why

(44:06):
we think that the numbers wrong. Guess who gets to
decide whether the appraiser is right or not the appraiser right,
not their supervisor or something an outside independent party. So
that's that that from the consumer point point of view,
can be kind of frustrating because they're kind of regulating
themselves in a way right to.

Speaker 4 (44:28):
Make that decision. Uh huh. The appraisal supervisor at the bank,
Oh they will. Yeah, they're not just.

Speaker 7 (44:32):
Going to afford over your reconsideration of value because people
do that all the time and provide ridiculous information.

Speaker 4 (44:39):
Yeah, most of they they filtered out.

Speaker 7 (44:41):
They look at the supervisor a look that works for
the bank doesn't even work, you know, with the appraiser,
and he'll go, Okay, this is a reasonable thing that
he needs to address, or this is just stupid and
I'm just going to kick it back.

Speaker 4 (44:53):
Right.

Speaker 6 (44:54):
So the appraiser, and the other thing that was interesting
was is on this case is that the mortgage company
for my buyer, she went and looked at all the comps,
checked out who the appraiser was because the appraiser is
assigned by the lender, right, and found out the appraiser
was local because sometimes they're like from a very far
area away and they don't know what's going on in

(45:14):
the neighborhood. This guy was right there all the time,
been around a long time, understood the market well he did.
And even the mortgage broker goes, I think they're right.
I think the numbers came out right that I really
don't see much variance, maybe four thousand dollars difference on
thirty two right, right, So anyway, we got creamed one that.

(45:34):
But the good news is there was good news in
this case is that both sides were reasonable. So what
happened was my buyer gave up his seller concessions because
he's getting thirty two thousand less on the house, right, right,
So he gave up the seller concessions. But because we
had to do that, we went from a conventional loan
at five percent to a FHA loan at three and

(45:57):
a half percent. But because of the price drop, he
was saving like three hundred dollars a month on his
mortgage payment.

Speaker 4 (46:06):
Right.

Speaker 6 (46:07):
And the other thing that's interesting is if you just
look at the price drop alone, not regardless of how
much down payment you put down five percent or three
and a half percent. I figured it out based on
Mike's calculations. So every five thousand dollars cost you thirty
five dollars a month right now on your mortgage payment.

(46:27):
So I extrapulated the thirty two thousand dollars and he's
saving four hundred and seventy dollars a month on his
or four hundred and twenty or something on his mortgage
payment right compared to what he would have done on
the other deal. So he's really happy right now. So
he got it. In fact, he's so happy he's closing
on Tuesday. He already ordered the metal building guy because
he's going to be putting a metal building in his party,

(46:48):
that other one, and he's coming out. Yeah, he's coming
out the same day we're closing.

Speaker 4 (46:51):
That.

Speaker 6 (46:52):
I think the guy's a little excited about it. Got
his new owner.

Speaker 2 (46:54):
That does work out. Not only is he saving a
little bit of cash, right, I mean a way and
in a lot of way and pay less of months.

Speaker 6 (47:01):
Yeah, so he's doing good and everybody he's really happy
up there. The agent up there care. She was great
to work with. Really. In fact that end, she goes,
thank you, you taught me a lot. You know when
we were done. I don't want to take a lot
of credit. I don't mean it that way, but it
was nice to have an agent that wasn't freaking out
and being combative about it or anything. And I kept

(47:24):
explaining to her because she was so new, it's like, look,
we want the house to appraise because we are we
can afford it, and we're not trying to hurt you know,
we're not trying to hurt the sellers. If we can
get three fifty five from the appraiser, we're good. Right,
we'll just keep the terms. And I said, please please
tell your sellers that the mortgage company and the buyer

(47:47):
and the buyer's agent are all trying to figure out
how to Yeah, we're all trying to help you get
to the number of the unique because it's really shocking
for the seller when they're like taking a thirty two
thousand dollars hit on their home.

Speaker 7 (48:01):
I would like to say two things. Number one, you're right.
It is the appraiser having to admit that he's wrong
if he changes a number. It's very hard to get
an appraiser to change a number. But the big thing
with these reconsideration of values is you've got to look
at the comps in his report and you have to
find comps that are better that he missed. You can't

(48:23):
do something that's significantly different or older or this or that,
like it needs to be a superior comp.

Speaker 4 (48:29):
That he missed.

Speaker 7 (48:30):
The biggest way that I've and i've won on some
reconsideration of values, and not as an appraiser, but as
a consumer. And the way to do it, Number one
is to double check every comp they used, make sure
every adjustment they made make sense. And number two, look
for buy owner sales. Look for sales that they missed.
And they're not going to miss the ones on mls usually,

(48:50):
but they might miss the ones in public record. And
if you can then verify that sale, provide that information.
Here's a couple of sales that we think are superior
comparables to the ones you used. And if he can't
argue with it, he can't argue with it, right, you know,
but you've really gotta You have to deliver a serious
knockout punch to get an appraiser to change.

Speaker 6 (49:11):
I heard somewhere, I don't know if it's from you
or somebody else, that only like two percent of the
appraisal reconsiderations favor it's probably Mike. Yeah, maybe maybe it
was Mike. About two percent in his experience actually go
in favor of the higher appraisal.

Speaker 4 (49:29):
I've never changed the number, so.

Speaker 2 (49:30):
I was gonna say that low number doesn't surprise, No,
it doesn't. Talking about the these are experts in their field, right,
they are good at what they do, and I just
don't see this huge opportunity to have this big chance
where you're catching all these and we know.

Speaker 6 (49:46):
And actually that's a good thing because if it was
wild fluctuations, it would just show that they really didn't
know what they were doing, and we really don't know
values as stuff throw. So it's a good thing. It's
a good thing that it's a low number. I'm not
if it was twenty percent, that would be very bad.
I mean, one out of five homes are missed on
an appraisal, right, horrible, right.

Speaker 7 (50:05):
But you know, you got to understand that as this
appraiser is sending that report, the original report, as he's
hitting the send button on a low number, he knows
that he's potentially killing the sale. He knows the lender's
not going to like it. He knows the seller's not
going to like it, the buyer is not going to
like it. He's going to make sure that he's done
a good job. I mean, especially if he's coming in love,

(50:28):
because you know you're going to upset a whole bunch
of people, so you better be right. So you know,
I as if I'm writing another appraisal for a random reason,
I'm going to hit send, probably not worry about it.
If I'm getting ready to hit send on a low one,
I'm probably going to go back through it for another
hour and say, is there anything that I did wrong here?

Speaker 4 (50:48):
Is there anything?

Speaker 6 (50:48):
Why do I get a feeling that AJ is not
your typical appraiser doing all this stuff? I mean, I
know there's just like grilters, there's a lot of great
relters out there, right, but there's there's also a lot of, oh,
you know, not so great realtors out there, right.

Speaker 2 (51:05):
I would think every anytime you feel like it's low,
or anytime it maybe feels like it's a little fat,
I think you're gonna take another look. Yeah, if you
really take pride of what you're doing. Yeah, that's a
good point.

Speaker 7 (51:14):
It's the same thing on the other side, because if
I come in fifty thousand dollars high, now the lender
is going to look at it, go, well, is this
a legitimate deal? Maybe they're doing something on the side.
I don't know, maybe you know, so, yeah, I look
at those carefully too, I would think, so, you know,
most of the time they're they're right in there, yeah,
where you feel like, yeah, that's land there.

Speaker 4 (51:34):
There's some subjectivity to it.

Speaker 7 (51:36):
I always have, you know, I said, the bottom number
kind of gravitates towards the center. Well, you will have
ones that are low and you will have ones that
are high. They're called good good deals. A bad deal
outliers like well outliers I consider to be like, this
is ridiculous. There's something majorly wrong. But if it's only
you know whatever, a couple of percent this this way
or the other way, well, maybe that seller was a

(51:58):
little more motivated than the average seller, not so much
that it's a non arms laying through I shouldn't use
the sale. Or or maybe that buyer was just really
good at negotiating. Maybe, you know, and same thing the
other way. If it went a little bit higher than
it should have, well maybe it had some nice attributes
that that particular buyer really liked and it was worth
it for them to pay.

Speaker 2 (52:19):
A little more. Right, it makes perfect sense. Floridatokreal estate
dot Com. Always remember when you need a pros pro,
an expert in their field. You get so many at
the one stop real estate shop Florida talkreal Estate dot
Com and You're always welcome to join us toll free
if you're like, hey, I get a question for AJ
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for a Jimmy D. Don't be shy. Dial in eight

(52:39):
seven seven nine two seven six nine six nine. We're
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Speaker 6 (52:45):
Thank you, Johnny, AJ. I want to ask you a question.
I know that we're going to get to these subjects
if we only spent like four minutes five minutes on
do you have one of the shortest subjects? So it's
either what is a bedroom? I thought that might be
short or when do you hire appraisal? Which I think
is longer. Do you do you think you can get through?

Speaker 7 (53:05):
I think the bedroom is the is the most easy
and well the most important one. It's the one that
gets the most hits on my website. I don't get
through really and it's not overly complicated.

Speaker 6 (53:14):
So I want to just bring this up because a
lot of people don't understand bedrooms and appraisals, right, and
what can what constitutes a bedroom every a lot of people.

Speaker 2 (53:23):
One thing that I would absolutely say that's got to
have a closet.

Speaker 4 (53:27):
There you go that's one of right, you're one down.

Speaker 6 (53:30):
Yeah, and there's another one that's a safety strong will
to hit yeah, right. But not just any window, right,
an egress window.

Speaker 7 (53:38):
It's got to be twenty at least twenty four inches
tall and at least twenty inches wide, with at least
five point seven square feet of total opening space, so
you can Florida, I believe, right.

Speaker 6 (53:49):
I think that's a Florida thing. I think that's a
Florida And that's so you can crawl out in case
there's a fire. You can get the heck out of
that bedroom if there's a fire and you can't get
out because of their door.

Speaker 7 (53:58):
A lot of people will take a den or a
family room that's in the middle of the house and
try to turn it into a bedroom. Well, if there's
a fire at the door, the person burns and dies inside.
So that's the point is you need a window, and
that window can't lead to the living room.

Speaker 4 (54:11):
It needs to lead it.

Speaker 2 (54:13):
You have to have an outer wall if you try
to convert a garage to a bedroom, as long as
you put in the appropriate window or in a closet.
Are we meeting the standard, well, some of it, some
of it there's there's a lot of there's more.

Speaker 6 (54:27):
Yeah, so why don't we start ajb Let.

Speaker 4 (54:29):
Me, I'll run down them real quick.

Speaker 7 (54:31):
These are all the number one, there's state rules and
then there's local requirements. Okay, so these are state state level.
So it has to be at least seventy square feet total.
And because of the way that we calculate that, it
needs to have seventy feet of ceiling heights that are
at least seven feet So you can't have one of

(54:53):
those second story with the dormers and where it's kind
of tight and it tapers off. You need it to
be seventy f feet of at least seven foot tall ceilings. Interesting,
you need the closet and and a a hutch from
city furniture bolted into the wall is not a closet,
and it needs to be a closet. Closet, uh the window,

(55:16):
and you need the entry door. You need a door.
You need privacy exclusivity of use. So you can't have
let's say it's a three bedroom, one bath house and
you have to go through one of the bedrooms to
get to the one bathroom. You have a two bedroom house.
Because if people can walk in and out of your bedroom.

(55:36):
You need exclusivity of use.

Speaker 6 (55:40):
Let's see that's happened to me before about going from
one walking through a bedroom to get to a bedroom.
If it has to be a pass, I've seen that that's.

Speaker 7 (55:49):
A sitting room. Yeah, you know, not like it's something else.
So it's not just throwing a closet into it then,
you know. And those requirements they're all on my website
if you ever want to look at that. That's This
is actually the most frequently the most popular frequently asked question.

Speaker 2 (56:05):
So you said these are state regulations.

Speaker 4 (56:07):
Yeah, I into the.

Speaker 2 (56:09):
There's individual municipalities that like not necessarily like I can't
think of any for pom Beach County in particular, but
depending on where you live that they might be different.

Speaker 7 (56:19):
It's you know, you're you're always going to have local
code overriding if it's more stringent than the state requirement.

Speaker 4 (56:27):
Right.

Speaker 7 (56:28):
So, and there's also federal requirements. I've even gotten into
an argument with a sold at home and it had
awning windows, okay, which awning windows are extremely popular. There's
probably thousands of them in homes in this in this county.
I had an appraiser that said, you have to change
out that window. That's not a proper egress window. And

(56:51):
this was for a FHA loan. And since I'm an appraiser,
I called the Atlanta home Ownership Center for appraisers and
went through the first person, got to a supervisor and
he said, look, it's his opinion. It's we We got
it down to the one sentence of the HUD requirement
and it's subjective. So I had to change out a window.

Speaker 6 (57:12):
For that Why why why awning windows? Because it's too tall.

Speaker 4 (57:17):
No, in his opinion, it restricted the.

Speaker 6 (57:20):
Oh, the access to get out.

Speaker 4 (57:22):
Yeah.

Speaker 7 (57:22):
And I told I told the guy at the at
the home Ownership Center, I said, do you think the
framing of an aluminum window is going to.

Speaker 4 (57:29):
Stop me from escaping from a fire? Right?

Speaker 7 (57:32):
That little cross bay not gonna I'm gonna rip that
thing right out.

Speaker 4 (57:35):
A child is gonna rip that thing right out. Yeah.

Speaker 7 (57:38):
It's not a it's not a h it's not a
prison bar. You know, it's a I.

Speaker 6 (57:43):
Do have a question on bedrooms, how much value do
they get compared a regular living space? Because you know
we've you and I've talked about this off here a
bunch of times in real life situations.

Speaker 7 (57:54):
Same answers, every other thing. Everybody always asked me, depends
on the in that sub market.

Speaker 4 (58:02):
Does it matter right? So honestly it's.

Speaker 7 (58:05):
Very rare, I personally, and most of the appraisers, I know,
we're bigger on square footage. What you do inside the
home is your own personal choice. Whether you use that
room as a media room, a bedroom, a den, family room,
or a dining room. Is that going to change the
value now, it's what you want to use it for.
The only place that I really see it mattering more

(58:26):
is sometimes on the higher ends, if you know, if
it's family neighborhoods where they really need that fifth bedroom,
and also in rental markets where you get more rents.

Speaker 6 (58:36):
Oh yeah, that's a higher bedroom can But you know,
I just had a case about a year ago. You're
maybe a year and a half ago. Chris right, And
Chris was selling a house. I helped him. No, I
don't think I helped him buy that house. He was
selling a house and and we didn't get the right appraisal. Now,
Chris was pushing the Chris was pushing the limit a

(58:58):
little bit. So I wasn't surprised because he was really
pushing it, but he got it because it was a
hotter market. But then the house didn't appraise. So I
went back and did the reconsideration, and I thought I
had some pretty good stuff. But the problem was he
said that two of the ones I used, even though
they were less square footage than my house living space

(59:19):
square footage, they were smaller than our house, but they
had an extra bedroom. Yeah, and they actually put in
the reconsideration rejection. You gave me four bedrooms.

Speaker 4 (59:29):
Right.

Speaker 7 (59:30):
Well, again, they have to be superior comps, and you're
trying to get someone to admit that they did something wrong. Right,
So if you have a good excuse.

Speaker 6 (59:41):
But the house appraised, I mean the household with conventional
financing was smaller than our house.

Speaker 4 (59:49):
I understand.

Speaker 6 (59:50):
So why wouldn't that be a superior comp Because, like
I just said it.

Speaker 7 (59:55):
It it depends on when you put the comps in
the and I do that market extraction, I do that
sales comparison analysis.

Speaker 4 (01:00:03):
Is their difference some markets, there is a difference.

Speaker 7 (01:00:07):
And if I'm trying to keep from admitting that I
did something wrong, and I can point to that and
say these are not superior comps. If you're doing a
reconsideration of value. You have to find golden comps that
there's no arguing with. Okay, And it's just at that
point to me, it's a good convenient excuse to be like, no,

(01:00:28):
I'm not going to use that.

Speaker 6 (01:00:29):
So here's a realtor tip about appraiser. It's okay for sellers. Okay, buyers,
It isn't such a big deal if you're at the
appraisal or not, because, in my opinion, the buyer's agent,
because really it's the seller's responsibility of having the house
of praise in a way, because they're the ones that
set the price in the first place. So what I
always do is a listing agent, and you should ask

(01:00:51):
Sellers should ask us if the agent is going to
do this or not, because a lot don't. I go
to the appraisal and I bring a list of upgrades,
and I have already set up all the comps that
I think are good for the property, and I have
it in an email ready to go, and I go
out and I meet with the appraiser. I chat him
up a little bit, try to find out their experience,

(01:01:12):
see if they have any questions, and then give and
then give the list of upgrades to them by hand,
because sometimes they don't want my comps, so I never
know what they want, so I just give them the
list of upgrades. I had one guy just recently that
that one I told you about Port Saint Lucy. He
didn't want my list of upgrades. And I was like, well,

(01:01:33):
you know, it's more than just a new AC like
you replace duckwork, which is really expensive.

Speaker 4 (01:01:39):
But why not just why not just take it? Why
not just take it and say nothing?

Speaker 6 (01:01:43):
When the guy, yeah, at least walk away with that
was But that guy when he walked in, I could
feel like when I that's why I say, I try
to chat him up to get a feeling. And this
guy who was like, I don't need your comps. I've
been doing this for years in this neighborhood. I know
every single thing that's going on in this neighborhood. And

(01:02:03):
I'm like, okay, okay. And I had to be gentle
because you don't want to get the guy angry. Yep,
And I was like, well, I understand where you're coming from,
but there are some things that you wouldn't normally see
and know that might increase the value of the home.
And he goes well, just give it to me. And
then it came in law. I was like, oh, I can't.
I knew this guy was going to be a problem.

Speaker 4 (01:02:22):
I've had that happen to you.

Speaker 7 (01:02:23):
And my theory is like you, I try to talk
to him a little bit, but you can kind of
tell if they're not being chatty or they don't want
to talk.

Speaker 4 (01:02:29):
Fine, I hand him a folder. Hey there's some information
in there.

Speaker 7 (01:02:33):
Take a look at it, you know, if you get
a chance, and don't try to discuss it with him.

Speaker 4 (01:02:38):
Don't try to go over it with him.

Speaker 7 (01:02:40):
Look, it's like sometimes you get in a fight and
someone says something or an argument. I should say not
to fight, and I don't mean in real estate, I
mean in life, right, And later you think about what
somebody said.

Speaker 4 (01:02:51):
Right.

Speaker 7 (01:02:51):
So if you hand him that paperwork, he's going to
go and continue on his day, continue on his job.
It's gonna be two days later when he's sitting in
his office looking at this file. He's got the information
sitting right there. He's probably gonna read it. He's going
to look at it and if it's valid good information.

Speaker 4 (01:03:05):
That's great.

Speaker 6 (01:03:06):
The helpsome because it helps him makes it faster. Appraisal.
Oh that's a good comp I'm going to use that one.

Speaker 7 (01:03:11):
Oh well, yeah, I mean both with comps and with
the upgrades. You know that, Look the year that renovations
were done and how much they cost is really helpful.
It's part of the form for the bank appraisals to
say what was the bathrooms where they are they renovated
or are they updated?

Speaker 4 (01:03:30):
And there's definitions to that.

Speaker 7 (01:03:32):
And then was it done in the last year, within
the last five years, within the last ten years, in
the last fifteen I forget. But the point is now
I don't have to guess. I got right here. Oh
they did the renovation in twenty nineteen, they did the
bath in the basins. Now, that's all good information. All
makes my file strong.

Speaker 6 (01:03:49):
And that's another really good tip is that don't try
to I don't do this. I don't like go over
the comps with them. I just sent in the comps
because they have to be very careful because they have
they have a rule that they can't be swayed. Now,
you can give it before the appraisal is done. You
can tell them anything you want and they could take
it in consideration or not. But after the appraisal. It's

(01:04:10):
you know, it's kind of done done. So the thing is,
I just give them the comps. I don't try to
be too pushy. I always say, look, I know you're
really probably good at job. You've been doing this a
long time. But I did put some comps together. Would
you like to have them?

Speaker 7 (01:04:23):
I've heard that statement the way you just said it
fifty times.

Speaker 4 (01:04:27):
Yeah.

Speaker 7 (01:04:27):
Yeah, it's like a script. It's like a script. No,
but it's it's valid. You know, look, I know you
know what you're doing. I'm sure you know what you're doing.
The other big thing is on those comps, the printed
out ones that you're handing them right on there. Anything
that's relevant that's not an MLS call that realtor.

Speaker 4 (01:04:45):
You know, I've sold the property.

Speaker 7 (01:04:46):
And sometimes, you know, you'll be like, hey, is there
is there anything negative you could tell me about this home?

Speaker 4 (01:04:52):
Oh? Yeah, it was a smoker.

Speaker 7 (01:04:54):
Well that's not going to be anywhere in anything that
the guy's going to see because nobody's going to advertise that, right.
But now if you put that in there, just write
it on the comp you know, write it on that
piece of paper. Home was smoked in per realtor and
and circle the phone number for the realtor he.

Speaker 4 (01:05:08):
Could call it.

Speaker 6 (01:05:09):
Can that seriously affect the value of the property. The smell,
the smell, sure smell. I always say, smells count. I
would say when I'm listening of properties like smells count.

Speaker 4 (01:05:18):
I wouldn't do an adjustment for it.

Speaker 7 (01:05:20):
But what is likely is that I would throw it
out as a comp if it's sold low and there's
some things in there that.

Speaker 6 (01:05:27):
They it's like a problem property and.

Speaker 4 (01:05:29):
You called it.

Speaker 7 (01:05:30):
And if it's if it's stunk when it's sold, it
probably had some other problems too.

Speaker 4 (01:05:33):
Yeah, exactly, you know.

Speaker 6 (01:05:34):
Yeah, the other thing I wanted to ask you about
praisl is just this part of it, right, And we're
going to get into some other stuff a little bit later.
But I one time wanted to give an appraisal appraiser
comps and he said he didn't want them because they
might not be good. And if you give them to me,
I have to use them.

Speaker 7 (01:05:55):
What he's talking about is, I'm assuming is that you
are supposed to list and talk about any comps that
you looked at but decided were not you were not
going to use for some reason or another. Now, when
this rule first came out, appraisers were bitter about it

(01:06:17):
because it's more work. Why do I have to tell
you about everything that didn't work out? And you would
list like thirty properties I didn't use these for these reasons,
you know. Well, the thing is when you hand that
in as an appraiser, the bank reviewer has to validate
every one of those if you list them in there,
So you really only want to list. Look if I'm

(01:06:39):
doing a plan unit development where there's ten sales in there,
and five of them are really comparable statistically, and I'm
only using three and there's two I didn't use, and
I didn't use one of them because it's stank or
because it had some other problems, then I might list
it anything that a reviewer later might go through and say, hey,

(01:06:59):
why didn't the appraiser use this stuff that's so comparable
that it jumps out to reviewers.

Speaker 4 (01:07:05):
You want to list those in the report.

Speaker 7 (01:07:08):
Appraising is so subjective and so opinionated, and these rules
are so vague. I'm sure that's where he was coming
from with it.

Speaker 6 (01:07:15):
That's interesting, that's really interesting. Let's let's go ahead and
take a break.

Speaker 4 (01:07:18):
Guys.

Speaker 6 (01:07:18):
I know we're a little past ten o'clock. But we're
going to take the break on the flip side. What
we're going to talk about poof our property insurance taxes?
Are property taxes going to go away? Poof just go away, disappear.
There's a new plan out there. We're going to take
a look and see what what the details are.

Speaker 7 (01:07:36):
I'm never moving. I love this rule. Let's do it.

Speaker 4 (01:07:40):
It doesn't matter to me.

Speaker 6 (01:07:41):
Yeah, probably would keep people in their house. Oh yeah,
slow down, real estate, it will, it will slow down,
and they need more into this plan. They'll need more
sales to make money.

Speaker 4 (01:07:51):
Yeah, see what have.

Speaker 2 (01:07:53):
We got a lot? Because if you're going to eliminate
some revenue, it's.

Speaker 6 (01:07:56):
Got to be got to come somewhere else.

Speaker 2 (01:07:58):
We got a lot to get into. So plenty of
time remaining on this Saturday. We're live on the twentieth
of September, and you're always welcome to join us toll
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(01:08:21):
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(01:08:43):
We're back in four minutes. Thanks for being with us
every Saturday right here on Real Radio.

Speaker 1 (01:09:01):
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 seven sixty nine
sixty nine.

Speaker 2 (01:09:11):
It is toll free eight seven seven nine two seven
six nine six nine. If you've got a question, comment,
concern in the world of real estate, you'd like to
dive into the conversation ahead, do it. You got still
got a man, plenty of time, forty five minutes remaining
on this Saturday, Johnny C. That's me. Jim Athy is
our producer Schrodinair. What's up, dude? Hello and good morning,

(01:09:31):
Good morning. I see a line blinking over there? Is
that somebody waiting or.

Speaker 3 (01:09:36):
Somebody waiting to come talk with the with us beautiful
little bit about appraisals and have a little shout out
for Jim.

Speaker 2 (01:09:42):
Thanks Brian, we'll get to that. Just to suck it.
He'll be talking with aj Holman Experience Appraisers dot Com.
Great to have you with us on a Saturday. Good morning, Hi,
and thanks for the Brett again. I'm I'm gonna give
you more love a little bit later too.

Speaker 4 (01:09:55):
Appreciate you very much.

Speaker 2 (01:09:57):
We gotta wait for the cameras. And of course our
feelest leader thirteen plus years now. I've told you he
runs a top producing Keller Williams team. It's the Florida
Home Pros Team, Keller Williams Innovations. That's where you'll find
Jimmy d there's Jim Depoland.

Speaker 6 (01:10:10):
How you be Hey, good, good good. Before Brian gets on,
pH just want to do two quick little shout outs.

Speaker 4 (01:10:16):
Okay.

Speaker 6 (01:10:17):
First of all, Nate, thank you so much. He's the
first person to say that he'd like to donate for
that charity, Knights of Pythegorist Mentoring Network or KOPMN. It's
a children's group. They have a podcast. Their computer's about
to die. They can't do the podcast without it. The
kids have been doing the podcast for five years now,
so we're raising money for a computer for them. We're

(01:10:37):
trying to raise fifteen hundred dollars. If we can get
seven hundred and fifty dollars for donations, I'm going to
match it and donate the rest so we can get
these kids the equipment they need. You'll be doing a
really good thing. It'll make you feel good when it happens,
and please help us out. So thank you Nate for
being the first to step up. I really appreciate it.

Speaker 2 (01:11:00):
Week we'll have some real direct information.

Speaker 6 (01:11:02):
More information because I just decided all this is like
ten o'clock, we.

Speaker 2 (01:11:05):
Want you to donate.

Speaker 6 (01:11:08):
I decided we'll give you next week.

Speaker 4 (01:11:10):
Yeah.

Speaker 6 (01:11:10):
I was trying to figure out how to raise some
money for him. It's like, Oh, I have this radio show.

Speaker 2 (01:11:14):
Maybe should bring it up and hope people.

Speaker 6 (01:11:16):
Yeah, maybe people help. But this is a five on one,
three c uh thing. So if you want to make
a donation, it is tax deductible. Will get you all
the information. I don't want to collect the money. We'll
make sure it gets done the.

Speaker 2 (01:11:28):
Right way, and a nice easy direct link to give
it right straight to the Nights Other Pythagor.

Speaker 6 (01:11:34):
Nights of Knights of Pythagoras Mentoring Networks. He finally changed
it to KOPMN. That's still not a very easy one. KOPMN, right,
it's like, oh yeah, that just slides off, you're talking.

Speaker 4 (01:11:52):
Hey.

Speaker 6 (01:11:52):
Also one other just quick little shout out to Joe
and Linda and Franz and Tina and Kaylin Uh. They
are selling a home. John Linda needed to sell a
home and they're selling it to relatives and we just
did the inspection and the appraisals coming out next week
on Tuesday. So I'm really excited about that to get

(01:12:14):
that done and really looking forward to that. The people
that will be moving in our first time home buyers.
So that's going to be great. And everything's looking pretty
good right now and really happy for them. Now, let's
go ahead and take the call from Brian and then
we're going to get into poof Our property insurance is
going to go property I keep saying insurance, our property

(01:12:36):
tax is.

Speaker 4 (01:12:37):
Going to go away. In Florida. We'll find it very
amazing what.

Speaker 2 (01:12:40):
You got there, Jimithy.

Speaker 3 (01:12:41):
All right, we got Brian on the air with us. Brian,
welcome to Florida Talk real Estate.

Speaker 8 (01:12:46):
How you doing boys, that's up? He Hey, I just
wanted to call in and and I don't know, I
don't know how to say this because I'm not much
of a radio host, but Jim Depola has to be
one of the most diligent agents I've ever worked with.

(01:13:08):
I've sold a couple of houses in my life, and
this man never gave up on me. He always made
a point to communicate with me. And he, you know,
I always believed that slow and steady wins the race,
and always knew that if your patient, you know, patient
shall prevail. And he kept me going through this whole

(01:13:32):
purchase of my new house that I understand you were
talking about earlier tonight or this morning, and you know,
I really just want to give him and his team
the shout out that they deserved, and you know, just
kind of you know, what he told you was probably

(01:13:53):
dead on and it was a nightmare, is selling my house,
but it was an absolute drea buying my new house.
So I just wanted to give a shout out to
say hello, every buddy.

Speaker 6 (01:14:05):
And thank you Brian. You just gave me a goosebump.
So I really really appreciated. And you know what this
guy is, you know, true hero in the fact that
he had a full career as a Fort Lauderal firefighter
and then moved over into another full career with PbSO
Sheriff's Office. So this guy's seen a lot of stuff
and he's helped so many people I'm sure throughout the years,

(01:14:28):
you know, just doing that profession.

Speaker 2 (01:14:29):
What a legacy.

Speaker 6 (01:14:32):
So he needed a break and man, let me tell
you how long Brian. I just want to say this
because what really makes me so happy to hear this
is the sale was so so tough. It was so tough.
He was one of the ones that we had a
layout problem with. We had a layout problem with Brian's
house and it just created a big problem. Brian had

(01:14:54):
a house on the market I think with somebody for
six months before us, and then he came over to
me and I think, think we had the house on
the market nine months or was it a year?

Speaker 4 (01:15:02):
Brian?

Speaker 8 (01:15:04):
It almost almost a year months.

Speaker 6 (01:15:06):
Yet Yeah, it was like and he was so patient
that We had real fierce conversations sometimes, right, didn't we Brian?
Sometimes you were like, Jim, you got to get this
thing sold, and I was like, Brian, you gotta do
this and where to get it? And we had but
we never We always trusted each other. We knew we
had each other's backs and that we were gonna get
it done, and we never gave up on each other.

(01:15:28):
He could have fired me a million times over the process,
and I would have understood a couple of times. I
think I even had conversation, maybe you need somebody else,
And I didn't want to give up, but I wanted
to give him the opportunities because he's he was going
through h double.

Speaker 4 (01:15:46):
You want to do what's the best thing for your client.

Speaker 6 (01:15:48):
Yeah, So I'm really psyched. And then the sale went perfect,
and we even had a little glitch because we found
a property right away and then he backed out of it.
Then we went into this one and didn't a praise,
and we were like, I go oh, I go am
I gonna have to go and start looking for houses
for him again. But he was reasonable, the seller was reasonable.
We got it done.

Speaker 2 (01:16:07):
That's great.

Speaker 6 (01:16:08):
So Brian's closing Tuesday.

Speaker 2 (01:16:09):
Ah man, I can't wait for that to happen for you, Brian.

Speaker 6 (01:16:12):
That's fantastic, Brian, thank you so much.

Speaker 8 (01:16:15):
I'm I'm going to have a shot up shot for
y'all when I when I close it, when I signed
that dotted line.

Speaker 6 (01:16:21):
Yeah, yeah, yeah, we're.

Speaker 8 (01:16:23):
All going to do a shot of crown just for Yeah.

Speaker 2 (01:16:27):
I was drinking some about black tooth grins just last
weekend there a little crowd of cook I went to
the Panterra show, so you know it's appropriate.

Speaker 6 (01:16:34):
So that's awesome. Well, Brian, enjoy the weekend, get ready
for the move, okay, and uh, we'll be talking Monday
for sure. Okay, I don't think we set the time
the time yet for the closing, right, we don't have
a closing time yet. Okay, we just know it's Tuesday. Okay,
call you Monday on that, Brian. Have a great weekend.

Speaker 2 (01:16:53):
Ye have a great weekend. Thank you for your service
and community, and thanks for your faith in the team
and uh amazing and a phone call too. That's so cool.
You have a great rest of your weekend, Brian eight
seven seven nine seven six nine six nine. You're more
than welcome to join us. As well. You want to
dive into the conversation at hand, or if you just
have something you need an answer to a question, you
want to make a comment, You're more than welcome to

(01:17:15):
join us.

Speaker 6 (01:17:16):
So there's a politician in Florida name Representative Ryan Chamberlain.
I forget where he's from. The story's from West Palm,
but I don't think Chamberlain's from West Palm anyway. He's
one of the state officials and state elected official, and
he's come up with a plan of how to end

(01:17:36):
the property taxes in Florida. Okay, So I thought it
would be interesting because when when when Dessanta has talked
about this a while ago, when the governor talked about this,
rog I said, it sounds like a pretty great idea.
But where are they're going to come up with all
the money that the property cases is used for to
fund everything? So this is what this politician is coming

(01:17:57):
up with. And look, I don't have any opinion yet
about whether it'll work or out. We're just going to
talk about if this was implemented, like what things should
they consider. And I feel like as politicians sometimes they
don't understand the real estate market that well and they
might make decisions that sound logical but could create big problems.

Speaker 4 (01:18:17):
Well, like we just said, it probably volume.

Speaker 6 (01:18:20):
So this is this is the discussed plan, and he
said he's very open to other plans too. He isn't
saying this got to be the plan. He's like, Hey,
if any got a better idea, I'm up for it.
But this is what I got, so bring it on.
So this is what he said. The first part of
the plan, he calls it Freedom one, two three, And

(01:18:41):
what it starts off is he's going to roll the
property taxes back to twenty twenty three, whatever your house
assessed value was in twenty twenty three. That's what he
wants to pull everything back minute immediately. And he says
that puts revenue projections of forty three bills million. And
then to make up the difference of the money, he

(01:19:03):
wants to propose a five percent transaction fee on real
estate sales. So if you were selling a five hundred
thousand dollars home, on top of all your regular closing costs,
you're going to pay an extra twenty five thousand dollars
to buy the house to the state of Florida. But
you wouldn't have to pay property taxes after that.

Speaker 4 (01:19:24):
Right, So.

Speaker 7 (01:19:28):
That all because you said he's rolling back to twenty
twenty three, it sounds like you're still paying the twenty
two right.

Speaker 6 (01:19:34):
Three parts. So the first part is roll it back
to twenty three. Second part put into five percent sales tax.
Third part three percent sales tax to benefit school districts.
So he wants to raise the sales tax for everything
you buy, not just houses, like your regular sales taxes
you pay when you go to the grocery store and

(01:19:54):
everything else. They want an extra three percent for the
schools only. Now, let me tell you something about that.

Speaker 4 (01:20:01):
Okay.

Speaker 6 (01:20:02):
I was here when I actually covered it and was
a front page story for the Sentinel and everybody else.
When lotto became legal in Florida, they started it. And
when lotto became legal, there were a lot of people
in Florida did not want to have gambling in Florida
at all.

Speaker 4 (01:20:18):
Right.

Speaker 6 (01:20:18):
They were mad that the seminoles were still doing bingo
back then, Right, they were doing bingo parlors back then,
and everybody didn't even like that, okay, And then they
were like, we don't want gambling in the state. We
don't want lotto we don't want a lot of There
are a lot of people out there. And what they promised,
they swore engine honor. It's all going to the kids.
It's all going to schools. And then when the politics,

(01:20:42):
they kept it that way for a couple of years maybe,
and then as soon as they found out how much
money was coming in for those schools, we would have
had the most. We would have had like astronauts schools
and stuff. Right, we would have had schools if they
put it all into the schools.

Speaker 5 (01:20:58):
To be fair, that's not just they say that in
every state.

Speaker 6 (01:21:01):
It happens everywhere, but you can't believe that. So now
we're relying on takeaway property taxes. And I'm not saying
this is a bad idea, it's just a scary idea
to me. Okay, So now they're taking away the property
taxes which have been guaranteed for as long as people
are own property, that we could pay our bills. Right,
we can pay for police, we could pay for fire,
we could pay for roads, we could pay for schools,

(01:21:23):
we could pay for whatever. Right, And now what we're
doing is we're relying on three percent just to go
to schools, which we know isn't going to stay that way.

Speaker 4 (01:21:32):
And that's it across the board, sales tax on everything.

Speaker 6 (01:21:35):
Yeah, and they're thinking that'll raise twenty billion. So that's
sixty three billion between the rolling back to twenty twenty
three tax bill, assess value and the sales tax will
raise the total of sixty three billion. And then when
that five percent sales tax tax on the sale of
your home would be the extra.

Speaker 2 (01:21:54):
Mindy, So right now, the way property taxes works is
each county gets their own property taxes and then they
use the resources, you know, they allocate them throughout the county.
This proposal would be that it all goes to the
state and then the state.

Speaker 4 (01:22:08):
This person don't I don't get that.

Speaker 6 (01:22:09):
See that's the part. That's the part I don't get, right,
I don't get that part. I don't know the answer
to it. The other thing is what happens when you
have slow sales years?

Speaker 2 (01:22:19):
Yeah?

Speaker 6 (01:22:20):
Right, if you're relying on that five percent sales tax, and.

Speaker 4 (01:22:24):
Like, because property tax is consistent.

Speaker 6 (01:22:27):
Right, you every year, you know what you're going to get.
This is like it's really relying on the market conditions.
So what happens if you have let's say that God forbid,
we go into a real estate crisis like we had
in five six, and you had six year inventory in
neighborhoods because nobody wanted to buy a house. Where is

(01:22:48):
this money coming from?

Speaker 4 (01:22:49):
Then?

Speaker 6 (01:22:49):
If there's no house sales, right, and usually when that happens,
you don't have people buying a lot of stuff either,
So the sales tax wouldn't be as strong either, because
people were broke at that point.

Speaker 2 (01:23:00):
Yeah. Well, and sadly, as you talk about the unintended consequences,
there's a bunch you can stumble through. This increase in
sales tax cripples the lower incomes massive exactly.

Speaker 6 (01:23:12):
The upper doesn't even doesn't even think about it.

Speaker 2 (01:23:15):
The lower the income, the more it hurts you. And
so we're going to pass this buck onto the people
that don't make any money.

Speaker 6 (01:23:21):
It's absurdity. So so I don't I don't understand it.
To me, it's just seems.

Speaker 2 (01:23:27):
Onto people that don't even like participate in the property
tax aspect of.

Speaker 6 (01:23:32):
It currently, now here comes. Now Here comes the other thing.
Where is that five percent sales tax is going to
come from. It's supposedly going to come from the buyer,
not the seller. So the buyer is going to have
to pay an extra five percent, just like when you
go to the grocery store and you're paying the extra
three percent sales tax, but you're going to pay five percent. Well,
they're saying, they're saying in the article, they're thinking, they're

(01:23:55):
assuming that it's going to be financed. The buyer just
financed the five percent.

Speaker 2 (01:23:59):
FAJA, government's gonna come right soil.

Speaker 6 (01:24:01):
The government's going to cover the tax bill.

Speaker 7 (01:24:03):
Investors are pretty good about letting you take a lower
margin on your assets. They're not too worried about the security.

Speaker 6 (01:24:08):
Yeah, so they're making a lot of big decisions that
they don't they they couldn't perform on unless Freddie Mack
and Fanny May and all those government energies. So, yeah,
it will allow you to finance uh sales tax into
the prosery your home.

Speaker 4 (01:24:21):
I don't think that's going to happen, and the banks
aren't going to do it.

Speaker 7 (01:24:24):
No.

Speaker 6 (01:24:25):
I almost feel like the property tax thing, it's great
that we're looking at it. If we have a better
answer for it, you can extend.

Speaker 2 (01:24:33):
The the They could do it right now. They can
help us out dramatically extend the homesteading I was just
you can instantly all homeowners that are homestead and you
could give them a massive relief by doing very little
but just extending our homesteading.

Speaker 6 (01:24:48):
Could you can do that easily? You know, Johnny, I
just things popped in my home. When how about this?
The longer you keep the house, the more homestead you get.
So like, if you're a person that bought the house
in nineteen fifty and you're still living there, maybe those
people don't and they haven't ever moved. Maybe those people
don't pay property taxes. Right, that's free.

Speaker 4 (01:25:09):
And this proposal.

Speaker 7 (01:25:11):
As a Florida native, I'm always going to want to
protect the long term residents. You're talking about it shifting
the responsibility to the group, you know, to a certain
income class. This is going to shift the financial burden
from all these people that have had homestead exemptions for
the long periods of time, for decades.

Speaker 4 (01:25:29):
What's going to happen with them? Right now? They enjoyed me.

Speaker 7 (01:25:32):
I pay I think eighteen hundred a year for my
property taxes. Beautiful because I bought my place ten or
twelve years ago during the crash, so I got a
low purchase price. I sold one in there a couple
of years ago. That guy's taxes are like twelve grand
a year. They are almost ten times ten times. But
if this goes through, him and I are going to
be paying the same taxes, right, and so I don't

(01:25:54):
like that, you know, I'm always going to I have
so many friends that I went to school with that
if they known a home five years ago, they're trying
to move out of state because the rents went up.
It's impossible to afford a house, you know. I I
want to protect the locals as much as I can,
the people that have been here the longest. And then
if you can afford to move in here, great, you know,

(01:26:16):
but if you know, sorry that your taxes are more,
don't move here. Sorry we're full anyway. So yeah, overflowing.

Speaker 6 (01:26:25):
So so it'll be really interesting. This is just one
of the many ideas are floating out there.

Speaker 2 (01:26:30):
I like it though. I like I like the conversation.
I like yeah, but like these throw that away, throw
it away.

Speaker 6 (01:26:36):
Yeah, I don't think I don't think that.

Speaker 2 (01:26:38):
Yeah, that's start over.

Speaker 6 (01:26:40):
Yeah, I don't think that's the I don't think that's
the winning idea. I don't think that's it. You know,
the idea of like the conversation and I like the
idea that you're saying. I know that you didn't come
up with it, but the idea that focusing on the
homestead extensions by using that, it's been.

Speaker 2 (01:26:56):
A point I've made sense. This conversation came up, like
if you really want to do it, I love the
idea of getting in front of a microphone and a
camera and being like, we're going to do this for you.
It's like, well, you can't. You don't. It's not practic
in order to go down that road. I think that
has to be a state amendment. We'd have to vote.
That is, oh, yes, right, they could do it. They
could do it without a vote by approaching the homestead

(01:27:18):
exemption way. You could just do it through legislators, a
sign of a pen, and just like that, your homestead
exemptions massively changed. Just double it.

Speaker 7 (01:27:26):
You'll help the lowest income massively. You know what would
get the most benefit for.

Speaker 2 (01:27:31):
So you always got to find what's the real motive.
Is the motive to help us as homeowners or is
it you're gonna lead approach every Everything they've laid out
doesn't look like it's about us. The worker bees, the
middle classes dying in the lower class. It's about the
upper echelon always. It just feels like it always.

Speaker 6 (01:27:52):
So it's kind of interesting to talk about. We're going
to keep bringing this subject of his new ideas come
out and everything. It's just something to kind of keep
your radar on. I really feel like a lot of
this is more like we're coming up to a mid
term election next year and people want to float a
lot of ideas that aren't going to work to make
people go, yeah, I want to do that and not

(01:28:14):
really have any idea that it's never going to happen
to get them all. I hate to say this, but
like the taxes on tips, from what I read about that,
it was a good concept, but its sunset it right
after I think in twenty twenty eight. It it's over,
and you're only good up to forty thousand a year,

(01:28:35):
and after forty thousand new year.

Speaker 4 (01:28:36):
Pay taxes and you have tips, So.

Speaker 6 (01:28:40):
All you're doing is you're taking forty So people making
zero dollars to forty thousand a year, right, they get
the tax break, but anything above forty thousand that you make,
you're still paying the taxes on the.

Speaker 4 (01:28:51):
Tips from that point.

Speaker 6 (01:28:53):
Yeah, but forty grand isn't like some gigantic salary that's
barely make it by salary in today's what.

Speaker 4 (01:29:00):
It was before. Yeah, yeah, yeah, better than nothing, you mean.

Speaker 6 (01:29:03):
Oh yeah, better than nothing.

Speaker 4 (01:29:04):
But this only works if you claim your tips sure.

Speaker 6 (01:29:09):
Which oh yeah, which which a lot of don't.

Speaker 2 (01:29:11):
Yeah, you're not paying taxes and right.

Speaker 6 (01:29:14):
But it just it sounds a lot better no taxes
on tips. Well, when you read the fine details, it
isn't as clear as that.

Speaker 4 (01:29:22):
Yeah, I came up with a theory.

Speaker 7 (01:29:23):
Well, in the politics, right would they revamped the appraisal
rules about ten or twelve years ago? I realized My
theory is the goal is to appear to do something.
It doesn't really matter if it accomplishes anything. It's just
as a politician. Sure, the important thing is for it
to appear as though you're doing something.

Speaker 5 (01:29:44):
Well, well, let's promise that promise the other thing.

Speaker 6 (01:29:47):
Come on, let's switch to this other interesting concept. What
are we going to do about our crazy home insurance
compared to the rest of the name something. So this
guy David Jolly that we mentioned earlier in a show,
he's kind of had a he's almost had a Charlie
crist experience where he's bounced around all different parties. Charlie
Cris was a Republican, he was a Democrat, and he

(01:30:09):
was an independent right, and he's done all three parties.
He tried them all out.

Speaker 4 (01:30:14):
The way for those times.

Speaker 6 (01:30:15):
And he did become a governor at one point. And
I think he was US or was a US reper senator,
I don't know, or he was a state senator or something. Also,
I think if you done maybe I feel like that's right.
So anyway, David Jolly is now running for governor as
a Democrat, and what he would like to see is

(01:30:38):
to take all the uh natural disaster insurance off the
backs of private insurance, okay, and everybody can buy it
directly from and be fully covered, not reinsurance, full coverage
from the state of Florida for like windstorm, windstorm, flooding.
You know natural disasters, right, So any natural flooding is

(01:31:01):
a bad example, want to take it bad not flooding,
not not flooding.

Speaker 2 (01:31:06):
He wants to make like super like beefcake citizens.

Speaker 6 (01:31:11):
What do you mean that I don't get them?

Speaker 2 (01:31:12):
Citizens? Is state backed? Right?

Speaker 4 (01:31:14):
Oh? Yeah?

Speaker 2 (01:31:14):
Yes, So he wants to make like citizens on steroids.

Speaker 6 (01:31:17):
For what he would like to do is to take
all the regular insurance for citizens, like fire and theft
and all that, and have that privatize so that citizens
isn't covering that anymore, and citizens just covering your insurance,
your tornadoes, you know, natural variable charging so much for now,

(01:31:37):
that to me is kind of scary because everybody, like,
if Tampa gets hit, we all pay for it. If
we get hit, everybody in the state pays for it.
I'm sure there's a lot of people in the middle
of the state are saying, why am I paying for
people that are living on the coast and I'm paying
higher insurance and I'm paying for their right. So here's
some statistics that are interesting. Last year, these natural disasters

(01:32:02):
in Florida costs ensurres eleven billion dollars, and over the
last forty five years from nineteen eighty until today forty
four years or no, forty five years, was between three
hundred billion and four hundred and fifty billion over that
forty five years, So we're looking at about eleven billion though, right,

(01:32:22):
So on the high end, if you do forty five
billion forty five years, right, you're talking about ten billion
a year, which is very similar to the eleven billion
we had last year.

Speaker 4 (01:32:32):
Yeah, so do you are the past time periods adjusted
for inflation? Though, no, I didn't say that, And that's
a good point.

Speaker 6 (01:32:39):
But let's just say, but last year is a different
I'm making a big not just stress but cost of bill. Right, No,
I totally get it. So I'm kind of glossing over
all that just kind of average it out. Yeah, but
it's a good question. So the thing is is that
the thing is this between the last quarter of twenty
twenty two, when lawmakers introduced those legislative reforms to reduce costs,

(01:33:04):
in the first quarter of twenty twenty five, the state's
insurance premium is surged by thirty four percent, according to
data from Florida Office of Insurance Regulation. So now they're
saying that statewide, our average premium is three thousand. Now
I heard it was like fifty five hundred.

Speaker 2 (01:33:23):
It feels low.

Speaker 6 (01:33:23):
Yeah, it sounds very low. So this article, I feel
it's a newsweek article, so I feel like the person
writing it might who is the writer. I might even
know the writer. I know this person. So it doesn't Oh,
it doesn't have a byline. That's pretty weird. Doesn't have
a byline on the story, So I don't feel like
that figure is correct. The three thousand just sounds very

(01:33:44):
low for the average in Florida.

Speaker 2 (01:33:46):
It does a little, but I mean, I understand that
there's some.

Speaker 6 (01:33:50):
So so here are the pros and cons coming from
Jolly himself, the proposal, and then the insurance regulation or
the insurance industry, like the association an industry. So Jolly says,
we're doing this already. We're doing this with Medicaid and medicare,
you know, where people that can't afford health costs they

(01:34:10):
get into this pool and then we all shoulder the cost.
So he goes, we do this on a national level,
we should be able to do this on the state level.
Shouldn't be that big of a deal. Now, the State
Insurance Information Institute right, which is basically a lobbying program
a lobbying group for the insurance private insurance, says state

(01:34:31):
backed solutions for insurance is not an effective model. The
private market is always healthier. In fact, today the Florida
insurance market is in the strongest financial position in more
than a decade. So why would we want to mess with.

Speaker 4 (01:34:45):
That, yeah, because they got all our money. Yeah, I'm sure.

Speaker 6 (01:34:51):
Right, yeah, and it should be because we talk about
hurricanes this year. We're very very lucky that I'm not gonning.
I just I'm knocking on what you're seeing and I'm not.

Speaker 4 (01:35:04):
Let me look at.

Speaker 6 (01:35:08):
Jim said it popped up. Jim said it right, Jim
screwed up everything. So but anyway, so they're trying to
figure out to make it state run. I just get
nervous when the state runs that kind of thing, because
if they can't afford the payments, like if we set
it up that way, then yeah, and talk about chaos.

(01:35:30):
People are going to freak out if the government is
the one not giving the checks to rebuild their own.

Speaker 7 (01:35:36):
I do like the idea taking the most volatile, expensive
part of it and breaking it off. Maybe if they
can manage that better. That's the big question is can
they manage it?

Speaker 6 (01:35:48):
You really think that government? And then if you have
a complaint, you're going to the Normally, if you have
a complaint with the insurer, you go to the government insurance. Uh,
there's a regulatory group and go to them. But if
you're going to that group and that group is owned
by basically or run by the people that are making
I mean to me, that seems like a big conflict

(01:36:09):
of interest. And I'm worried about if we have a
really big disaster and the state couldn't afford it, it
would just create chaos in the state.

Speaker 4 (01:36:19):
But that could happen with an insurer too, though.

Speaker 6 (01:36:21):
Yeah, but it's different because that way, it's just a
private company, it's not your government. I think people will
have a different attitude if it was your government versus
ABC insurance company screwed me over, because you feel like
you have resources, but now you'd be going up against
the state.

Speaker 4 (01:36:37):
Yeah, I hear y'all.

Speaker 6 (01:36:38):
You know, so I don't know how to work. We're
already seeing that. They're already talk about.

Speaker 4 (01:36:43):
As the conversations.

Speaker 6 (01:36:46):
Yeah, I hope we can come up with great ideas
that will be better than what we got now. I'm
not saying we should stay with what we got for sure.
Just make sure that when you do it, you've looked
at all the different things. So if you you know,
if something crazy happens your it's.

Speaker 4 (01:37:02):
Pretty hard to undo, you know, it's hard to unring
the bell once you move forward with something.

Speaker 6 (01:37:05):
That and this is what's happening with the state insurance
with all those regulations. You know, Ross from bright Way Insurance,
Junerial Beach, he's with us all the time, and he's
told us he predicted when the reforms happened that give
it eighteen months or so and we're going to start
seeing insurance premiments go down. And we have and people

(01:37:26):
don't believe that. I mean, listen our show and then
let us prove you wrong by calling up and asking
Ross for a quote. But Ross is getting a lot
of discounts for people right not the crazy discounts for
getting years ago, but significant discounts. People are saying fifty
bucks a month, hundred bucks a month on their mortgage
payment because escrow. But what I was always concerned when

(01:37:47):
they made those reforms, because what they did is they
made it much harder for the consumer to sue the
insurance company. That's what they did basically, And now they're
complaining that it's gone too far the other way and
the insurance companies have way more hand in that situation,
and people are complaining that some people that were not

(01:38:07):
ripping off.

Speaker 4 (01:38:07):
The insurance company want they're suffering because of that.

Speaker 6 (01:38:10):
They're suffering because they think everybody's rip off artists now.

Speaker 4 (01:38:14):
But you know there was.

Speaker 7 (01:38:15):
It also is frustrating, Like I know there was there
was attorneys out there that were just calling home owners going, hey,
you've got this special style that's no longer available, so
we're going to get you a new roof.

Speaker 3 (01:38:26):
They used to run commercials on this radio statue the
opening line, I want to sue your insurance company.

Speaker 4 (01:38:34):
Right, that's right.

Speaker 7 (01:38:35):
So it's that's the problem. The problem is everybody looking
at it and going, oh, here's a big stake. How
can we carve this up, how can we take advantage,
how can we how can we rip off the system?

Speaker 4 (01:38:46):
There's just too much of that.

Speaker 6 (01:38:47):
Oh, I forgot to tell you something that's really important
part about this article. David Jolly's projecting that if we
were do that, consumers would save sixty percent on that
part of the insurance plan. Sixty percent is what they.

Speaker 4 (01:39:01):
Think, and that's the biggest varier.

Speaker 6 (01:39:04):
Yeah, that's the thing, right. But the thing is, maybe
that's showing how much the insurance companies are making on
these policies.

Speaker 2 (01:39:11):
Well, isn't there So, I mean, I'm coming from a
bit of an ignorant place. I kind of wish you know,
we had ross here, but that that portion of your
insurance you can massively adjust based on your deductible. Right,
you can make that pretty minimalist now by just upping
your deductible passively, so you can already control that variable.

Speaker 7 (01:39:33):
But a lot of this has to do with your
thinking and looking at it understandably as a consumer as
an individual homeowner.

Speaker 4 (01:39:40):
Right, but how many condos? How many condos do we have? Right?

Speaker 7 (01:39:44):
My neighborhood one hundred and ten town hooms that are
that has a master insurance policy. My HOA is five
hundred a month, which would have been crazy to think
of five years ago.

Speaker 4 (01:39:53):
Two hundred and fifty dollars of that is insurance, right,
So that that's a lot of it too.

Speaker 7 (01:39:58):
Is Yes, as an individual you might be able to
do some things, but these block and you know, these
uh commercial policies, I guess would be what it is.

Speaker 4 (01:40:06):
Even though it's a residential house.

Speaker 2 (01:40:08):
Maybe that maybe the approach is more of a condo
segmented aspect. The condos are getting hit the work and
then a you know, the family home segmented aspect. Maybe
maybe they separated, yeah, separate them. Maybe that makes more sense. Yeah,
so condos definitely need a little bit more vacuum or like.

Speaker 7 (01:40:28):
My house is not actually a condo, but it's an
HO six policy, which is kind of like in between
that in a in an individualized single family home, you know,
so there's different. Yeah, maybe maybe it would make sense
for a segment of the insurance, you know, but not
all of it, right, Yeah, yeah, no.

Speaker 2 (01:40:45):
Again, this is one of those things you really appreciate
that they're continuing the conversation. Yeah, because it feels like
the best interest in the consumers.

Speaker 6 (01:40:55):
And that's when at least. Yeah, And that's one of
the things I love about real estate. It's different all
the time. It's always changing. It's not a stagnant situation.
Markets change up and down right, New programs come out,
they go away. Now we have these issues, you know,
if we're sitting in these chairs three five years now,

(01:41:16):
it might be completely different of how we do transaction.
Imagine if you're paying sales tax on the price of
the home, you're not paying property tax anymore. Everything's going
to be different. The calculations for seller net sheets, under
buyers understanding what their budget is, well, it's going to
be really interesting.

Speaker 7 (01:41:33):
So I just had a call from a friend this
week that used to live here, went to high school
with and everything, and he's lived away for at least
twenty five years now and he's looking to retire, come back,
purchase something for cash. And we were talking, go your
taxes and your insurance are a mortgage payment basically, right,
you know, like scale wise, And so those are the

(01:41:54):
two biggest issues. I mean, and at least we're talking
about it. And when I say we, I mean the state.

Speaker 6 (01:41:58):
Yeah, everybody, we're all you know. It's so hopefully they'll
come up with some better ideas than we got now.
But I don't want them to jump too fast and
not be prepared, because if we run out of money,
it's gonna really it's gonna hurt the lowest income people,
and it's the lowest income people and probably middle class
that would be hurt their worst if they don't do

(01:42:20):
this right. So they got to be really, really careful.

Speaker 7 (01:42:22):
We'll take some solace in the fact that they're probably
just saying all this for reelection and it doesn't really
they're not really going to do any of it anyway.

Speaker 6 (01:42:28):
But it would be nice if they were serious about
it and try to come up with a plan, like
a real plan. It would be really nice one. You know,
I can't believe it's ten fifty one. And normally we'd
be jumping on this as the main subject, but to me,
it's kind of a nothing burger. The Fed cut the
rate this week. Yeah we knew it, Yeah, we knew
it so much, so they cut it a quarter point.

Speaker 2 (01:42:47):
I guess the question was is it going to be
a quarter are they going to go for that full
half and make everybody go oh? And they hit the
quarter and you still saw some people say they didn't
do enough, which is interesting. There was one dissenting vote, right,
it was only one. He voted no because he thought
it should have been a half per.

Speaker 6 (01:43:02):
Sing yep, yep, exactly. And and the Freddie Mack report
went down again to six point twenty six from six
to three to five, which was a pretty big drop
point nine And we had a point oh nine drop
the week before. Yeah that's almost you know, it's not
a quarter point but point one eight drop over that time.

(01:43:23):
And so what I wanted to show people is the
high for the year was January sixteenth. It was seven
point oh four, Okay, And really this chart is showing
that the interest rates have been dropping very consistently from
seven oh four for the last nine months, and we've

(01:43:44):
had a couple of little jumps here and there, but
then it started going back down. The trend has been
a downward pressure without the Fed cut rates, right, without
the Fed cut.

Speaker 4 (01:43:52):
Rates, regardless of what they were doing, the market still
does what they're going to do.

Speaker 6 (01:43:55):
So we've been going down now nine weeks in a row,
which is like I can believe we've had nine drops
with no increase at all. Now one week in that
nine weeks we had a flat. It didn't go down consistently.
We had six five eight, six five eight, two weeks
in a round, and then it went down again. So
since July we've been down to half a point. Okay,

(01:44:16):
we've already dropped a half a point, and from the
top of the year we're down three quarters of a point.
So let me ask you a question, buyers, what are
you waiting for? You know you've been waiting for the
interest rate drops. We've been telling you forever the interest
rates are dropping. Now for eight weeks we've done interest
rates dropping, interest rates dropping. You know what you're gonna do?
All those buyers that are gonna outsmart the market. They're

(01:44:38):
gonna wait for it to go lower and lower, and
then one day they're gonna wake up and it's going
to go up, and it's like, oh, I missed the market.
I have to wait for the interest rates to drop again.

Speaker 7 (01:44:46):
Or right now, I mean, the inventory is still up.
You know all of my reports that I do, it's
not increasing so much anymore. But it's I'm not saying
it's not increasing at all, but I'm.

Speaker 6 (01:44:56):
Just so I think it's the opposite. Aha, it started
a drop back down big time. Let me tell you why.
I don't think fifteen percent is what I'm seeing in
fifteen inventory. Let me tell you right now, Okay, when
we when we this is all the MLS. Okay, if
you open up the MLS, we got up to almost
sixty five thousand homes for sale. I started, we were

(01:45:17):
like forty eight, and we went up to almost sixty five.
It might have been sixty two, but I'm pretty sure
it's sixty five. We're fifty seven thousand right now. We
had a big drop of and now those weren't because
sales closed, that's because people just took them off the market.

Speaker 5 (01:45:32):
But again you're you're talking MLS, You're talking everywhere.

Speaker 6 (01:45:35):
This is all the whole Realtors Association of Palm Beach County,
the county, No Dade, County, Brow.

Speaker 4 (01:45:44):
Yes, you know me. You're always talking bigger.

Speaker 6 (01:45:46):
Oh yeah, I took. You're always looking a bigger. Yeah,
you're looking at micro I'm always local, and they can be.

Speaker 4 (01:45:52):
Different different yet, especially Miami.

Speaker 6 (01:45:54):
But I've been seeing I have not seen inventory increasing.
I'm not seeing it.

Speaker 4 (01:46:02):
I think it's flat right now. Yeah.

Speaker 7 (01:46:04):
I think it was like when I do my grafts
six months ago, five four to three. Yes, you could
see boom, boom, boom. The inventory's going up, going up,
going up. The last maybe sixty days, thirty days. I
don't see it going up anymore. But I haven't seen
it going down either.

Speaker 6 (01:46:20):
So if anybody's expecting the interest rates to go below
six point two, six or two point five, I'm gonna
say two point five just to average it out easy.
It can it can go down. But yeah, I think
that they've baked in this rate cut for a very
long time, and they've been working eight weeks baking in
this rate cut. I don't think we're going to see

(01:46:41):
any dramatic thing to happen afterwards. It could because we're
in a very unusual market because there's a lot of unknowns.
But historically we've already got the rate cuts. So if
you're waiting for the ray cut, give us a call.
We'd love to work with you. Help you find a house,
help you get the mortgage, help you get the insurance,
walk you through every step of the process. But now

(01:47:02):
is a great time. And the reason why it's now.
You got the lower rates you're waiting for, and you
don't have the stampede yet, right the buffalo stampedes coming.
If these rates stay low, we've already seen a thirty
five percent increase of mortgage applications. So if you're not
one of those people applying now, you're missing out again
on another cycle while the inventory's high.

Speaker 2 (01:47:21):
M hm. What what happened? Because I thought, I consumed
that as soon as that rate drop came the quarter
percent there, the return on the treasury bonds actually shrunk.

Speaker 6 (01:47:32):
I didn't see that. I didn't. I didn't.

Speaker 4 (01:47:34):
I didn't. I was too busy. So you saw that.

Speaker 2 (01:47:36):
I think I saw that, like in the same timing,
the return on the bonds dropped, which is why you
know the hope of an accelerated deduction was going to
be there, because we all know it's tied directly to
the bonder.

Speaker 6 (01:47:50):
And I think these rate shops are not because we
have a strong economy. I think the rate shops have
been a result of a weaker economy, for sure. That's it, right, Yeah, Well,
sometimes they'll do it to stimulate. Yeah, usually the dude
seemulate comedy or try to uh cur inflation and the unemployment.
They got to deal with the unemployment side.

Speaker 2 (01:48:11):
Well, that's where they're going after now.

Speaker 6 (01:48:13):
So right, the quarter point drop was more I think
to try to stimulate businesses to hire more people. I
don't think a quarter drop is going to make that
much of a difference yet, But we'll have to see
what's going to happen with that guy. So I will
keep tabs on all that. AJ thank you so much
having for being on the show. I always love having
you on the show. Thank you so much.

Speaker 2 (01:48:33):
Yeah, for sure said three minutes.

Speaker 6 (01:48:34):
Oh, I thought I when you said I'm sorry, I
thought we were wrapping up all. I didn't hear any music,
and I'm thinking they already done.

Speaker 4 (01:48:40):
You want to do it three minutes what you should
do to prepare for an appraisal, because I could.

Speaker 6 (01:48:43):
Do Yeah, that would be great.

Speaker 2 (01:48:45):
Let's do two minutes what you should do minutes.

Speaker 7 (01:48:47):
So the big thing everybody always talks about is to
get the list of upgrades and maintenance, and you should
do that the hand of the appraiser. But what people
don't talk about a lot is give me a nice
atmosphere when I walk in there. Yes, when I walk in,
turn on all the lights, open up, all the blinds.
Have it nice and cold because I've been running around
all day, I'm hot and sweaty, just like everybody else.

(01:49:08):
It's humid, and maybe some nice light, smooth jazz.

Speaker 4 (01:49:11):
I'm telling it.

Speaker 7 (01:49:13):
All those things combined. There are certain people that I
walk in that home and I'm like, oh, yeah, it's
one of these people. It's just great. The house is immaculate,
everything's put away. So anyway, that was a big thing.
So just a generally welcoming the atmosphere. And then the
last thing is the same thing you do to get
ready for the house to sell. Fix all the little stuff,

(01:49:33):
fix the little negatives that are cheap. It'll show better,
it'll look better when the appraiser gets there to look
better when your buyers get there.

Speaker 6 (01:49:39):
Don't have dishes in your sink and have a dog
gapping all over the place and like running around and
being on top of the screaming.

Speaker 7 (01:49:46):
If you could have a neighbor or have somebody take
the dog for a walk or the kid for a
nap or something.

Speaker 6 (01:49:51):
You're presenting the property to a person that's determined the value.
You got to make it shine at that moment if
you can to get the most money possible.

Speaker 7 (01:50:00):
And just like every human being, the more relaxed you are,
the happier you are. That the more better mood you're in,
the more chance you're going to be.

Speaker 4 (01:50:07):
Like, oh this is a nice place. That's right.

Speaker 2 (01:50:09):
Hey, if you're gonna try to sell your car, you're
gonna or through the car washing vacuum, aren't you at
least spray a little spraying there right right?

Speaker 4 (01:50:15):
You?

Speaker 2 (01:50:15):
Your house is that much more, it's that much more. So. Yeah,
do the do what deemed might be the little things,
they're big things.

Speaker 6 (01:50:24):
I always say, it's like selling your car. When's the
second cleanest day of your car? Yeah, say you buy it,
tell you sell the second cleanest day you sell it.

Speaker 2 (01:50:33):
Yeah, that light.

Speaker 4 (01:50:35):
For sure.

Speaker 2 (01:50:37):
Always great to have you with us on a Saturday.
Thanks for making Florida Talk real Estate party of your
Saturday mornings. Always remember Florida talkreal Estate dot com. You
should write it down, know what, use it, love it,
share it. You can change lives, including your very own,
with the prospros of Florida Talk real Estate dot Com.
Find them on Facebook, on YouTube. There's a ton of
information you consume, share, share, share, and always remember this

(01:50:58):
team is here for you. When you're looking to buy
a home, sell a home, you're stuck with a home,
you don't know what to do, anything that touches the
world of real estate, we got you at floridatokreestate dot com.
Ajholm and Experience Appraisers dot Com have a great weekend.
Thanks for your time.

Speaker 4 (01:51:09):
Thank you, sir, and thanks for the banana bread.

Speaker 2 (01:51:11):
Jimmy, you rock my friend, so do you. Johnny.

Speaker 5 (01:51:14):
Have a great weekend, Jim aj good see again, Buddy.

Speaker 2 (01:51:16):
Always a pleasure, my dude and Jimmy d Jim Topolo
with the Florida Homebro team, have a great weekend.

Speaker 6 (01:51:21):
Thank you, James. Help you over there to answer questions
about your home sale and just a little bit.

Speaker 2 (01:51:26):
The locker room is next. Stick around Florida Talk real
Estate back out of next Saturday, right here on Real Radio.