Shout out. Deal killers. Foreclosures. Legal aid. Interest rates. Apraisals.

Episode Transcript

Speaker 1 (00:52):
Navigating today's real estate market can be tricky. Want to
buy or so a house, finance or insure a house,
or stuck with a house in 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.

Speaker 2 (01:09):
Here are your.

Speaker 1 (01:10):
Hosts, Jim Depola and Johnny c. You live on Real Radio.

Speaker 2 (01:15):
South Florida Morning, and we got you man.

Speaker 3 (01:18):
It is always awkward when you start with a little
technical difficulties. I'll share those details. Viea moment here.

Speaker 2 (01:26):
Good to have you with us. I see out there.

Speaker 3 (01:28):
In ninety two one one o one seven we got
two hours of infotainment for you Florida Talk.

Speaker 2 (01:32):
Real Estate Style. Thanks for being there.

Speaker 3 (01:33):
Of course, if you're on your free download your iHeartRadio app,
we are worldwide. That's an amazing thing, and of course
I believe we should be live streaming. You can join
us on Facebook on YouTube. That's Florida Talk real Estate
on Facebook. Florida Talk real Estate LLC on YouTube, home
of a ton of informational chunk videos plus a live

(01:54):
stream on a Saturday. Join us anytime you're more than welcome.
And of course, speaking of joining us, you can hit
us up to you at eight seven seven nine two
seven six nine six nine. That's a toll free number
into the studio with your questions, comments, concerns.

Speaker 2 (02:07):
In the world of real estate. Don't be shy.

Speaker 3 (02:10):
If you dial in the first voice, you'll hear the
melodious tones of our producer extraordinary. There's my brother from
another mother, Jimithy.

Speaker 2 (02:16):
How you doing? Hello, Hello, and good morning Johnny. How
you doing today, buddy?

Speaker 3 (02:19):
I'm doing pretty well. Thank you very much for asking.
Good to see always a pleasure. That's right, Johnny C.
That's me, your old buddy. You'r Opal. Let's get your
starting lineup on his Saturday. There's aj Holman over there
with Experience Appraisers dot Com.

Speaker 2 (02:30):
How are you, my friend? I'm fantastic. Good morning, Happy Saturday.

Speaker 3 (02:34):
Oh and happy Saturday to you as well. Always great
to have you with us. Nice to see you once again.
I like the quick turnaround too, by the way, I
don't like the like six months in between when we
get to see you.

Speaker 2 (02:44):
Yeah, one six days Saturdays.

Speaker 3 (02:46):
That's a little bit mo better from my perspective. And
of course always good to say good morning to our
fearless leader. Now thirteen plus years now, I've told you
that he runs a top producer Kellowiams Team, the Florida
Home Pro Team, Keller Williams Innovations. This is Jimmy D
Jim Depola.

Speaker 4 (02:59):
Hi, I'm doing good, Johnny, who knew that you were
a radio tech on top of everything else. Thank you
so much. You saved the day.

Speaker 2 (03:07):
So we come in and it's like, I don't know
this's gonna happen.

Speaker 3 (03:10):
There's no U, there's no power to a very important
tool in the studio, the one that enables us to
hear everything. And uh yeah, evidently it was just unplugged.

Speaker 2 (03:23):
And you know what, I'll fast up.

Speaker 4 (03:25):
That might have been me. I could have been when
I beat No No, when.

Speaker 5 (03:29):
I plugged in the thing that runs all the cameras
and everything.

Speaker 2 (03:33):
I might have pulled it out too far. Together, Jim
and I would have been here another twenty minutes trying
to figure it out.

Speaker 4 (03:39):
Of course I blamed it on h I say he
plugged in headphones. I, you know, just to draw a picture.

Speaker 3 (03:45):
If you've ever seen the movie A Christmas Story, Oh yeah,
you know when the.

Speaker 2 (03:49):
Fuse blows out. Dad's over there.

Speaker 3 (03:51):
He's got everything plugged into one thing. That's kind of
what we got going on here. I literally just had
to the power strip into an extension cord that's already
got four of the things plugged into another power and
do another power strip.

Speaker 2 (04:04):
That's Christmas vacation. That's going to say Christmas vacation. Yeah,
all the lights are.

Speaker 4 (04:09):
They the other one he put a penny. He put
a penny in the fuse to make it turn on.

Speaker 2 (04:16):
I don't remember. I remember that.

Speaker 3 (04:19):
Yes, the Christmas story, I'm gonna say they're probably both
grossly stacked. That's very similar. Visual of a thousand things
plugged into one that's very call. That's funny. I went
way more old school y. Yeah, way more. That's that's funny.

(04:40):
It was funny.

Speaker 4 (04:41):
It's funny.

Speaker 2 (04:42):
You know.

Speaker 4 (04:42):
The tech guy, Jimmy, I tell him that the boards
down the first thing. He's looking at all the tech stuff,
and I tell Johnny goes, I wonder if everything's plugged in?

Speaker 2 (04:52):
Tell me, I'm like, movie, I want to look a
look where your feet go.

Speaker 6 (04:57):
There?

Speaker 3 (04:57):
And I saw that boat.

Speaker 5 (04:58):
I had to come back over, and.

Speaker 2 (05:00):
I understand running away from that you look down there
and you're like, oh.

Speaker 3 (05:02):
No, a thousand things to plug it down, and they're
all going into one extent.

Speaker 2 (05:08):
Record it works though, Yep, that was it. Welcome.

Speaker 4 (05:12):
It's kind of weird. I just noticed that my Facebook
page is not taking the comments we're putting on, so
I don't know what's going on with that. We've had
a little bit of technical difficulties today.

Speaker 2 (05:23):
So it's uh usual what we call Saturday.

Speaker 4 (05:26):
Saturday, that's what it's called. Showing that it's on h
so good. It says you were commenting it's jim Yep,
it shows it so on Okay, so good good.

Speaker 3 (05:36):
If you're a regular to this program, you're like, oh man,
I'm so glad things don't change. Yeah, exactly like I
like contuity.

Speaker 4 (05:44):
They've only been doing this thirteen years. Thank god.

Speaker 3 (05:47):
Predictability and consistency will rarely let you down.

Speaker 2 (05:50):
We are very predictably.

Speaker 4 (05:53):
That's true. That's one hundred percent true. Got a lot
of good stuff to talk about today. We are going
to talk about this is the big news that a
lot of people are not going to be you know,
it isn't really on everybody's radar yet, but it could
be Uh, there's maybe becoming a small wave. I don't
want to make it sounding a tsunami, well, not a tsunami, Okay,

(06:17):
like a surfable wave maybe, Okay, not a little tiny wave,
but probably surfable of foreclosures that are going to be
coming down the pike. There's some big changes October first.
We're going to talk a little bit about that, and
we're also.

Speaker 3 (06:31):
Going to changes October first that may indicate a bit
of a wave.

Speaker 4 (06:36):
Of filings for foreclosure. And nobody's really talking about this
in the main media. It's a kind of more lower
we're going to talk about it. We're also going to
talk about how you can get help if you aren't
one of these people that are in trouble, and get
reputable help and free consultations if you need that, because
people are going to start needing that now. We're also

(06:56):
going to talk about the market update. The market updates
came out and it's gonna be funny because Aj did
Aj from Experience Appraisers has done a little bit of analysis,
but he's like me and forgot all of his statistics
when he came. But I'm sure, but I'm sure you're
smart enough to memorize most of it. We're going to

(07:18):
talk about that and then compare what Aj scene in
his market real life right now as he's doing appraisals
versus the big picture that the Florida Wilter Associations puts
together for the monthly report for each county. So that'll
be kind of interesting to compare the two. We're also
going to do give you a couple appraisal tips. One
of the appraisal tips last week we talked about with

(07:40):
Aj here how you should prepare and get ready for
an appraisal so that the appraiser has a good experience
in your house, which psychologically should help you with the numbers.
Right today, we're going to talk about deal killers with
appraisals and some other things later on. Also, we have
a little special call in Natalie uh used to be

(08:03):
on the on the show, Nalie Medina. She's gonna be
calling in because there's gonna be a free legal clinic
for people that have questions about stuff real estate and
estate planning related and anytime there's a program, especially from
the Free Legal Aid Society, you know, we're gonna we're
gonna let people know about that so they could get

(08:24):
free resources if they're jammed up. I had two people
just recently that both needed to set up either trust
or life estates because their person selling the home was
very very ill or very very old. And I was like,
if you're trying to sell this, you may need to
set this up because you don't know what's going to

(08:45):
happen in the future. So both of them went to
Paul Krasker. Well actually one went to Paul Krasker and
the other one went to Paul Krasker. But then found
out the VA does it for free, right and the
person really needed it, so that was awesome. So we're
going to show you how to do this for free
and get free consultations. We have stuff like that, so
that'll be a cool thing, too awesome. But we're going

(09:08):
to start out, if you guys don't mind, we're gonna
start out with shoutouts first. Once they pull up the shoutouts,
so hold on, here, here we go, here we go. Okay,
So I wanted to do a shout out to Vic.
We put his house on the market three days ago.
We've already had four or five showings. I think we
have two or three showings today. It's a four bedroom,
two bath home in West Palm Beach centurylocated near basically

(09:33):
Southern Boulevard and Haverhill basically is the rough area geographic
carry where it is about fifteen hundred square feet under
Air's got a large lot, need some TLC, so we
put it on the market for three seventy nine nine.
There's plenty of room to fix the house up. It's
got a twenty twenty two roof, right, so that's really nice.

Speaker 2 (09:55):
And it's functional, right, I mean, it's it's good as
far as that goes.

Speaker 4 (09:58):
It's totally livable. So this is going to be an
interesting test run because we had this off the market
for quite a while, trying to sell it off market
because that's what he instructed me to do, not that
I wanted to do that. And we did have a
significant amount of investors come in and they didn't seem
to be interested at a lower price than we put
it on the MLS. And now that we put it

(10:20):
out there, I'm getting a lot of retail buyers come calling.
But I'm also getting a lot of investors calling now too,
And it's so funny. The investors like, yeah, you'll never
get this price.

Speaker 2 (10:32):
I go if I had a dollar for every time
I've heard.

Speaker 4 (10:34):
That yeah, and I was like, I was like, to
the investor, it's like, yeah, no investor is going to
get this house at this price. I go, They're not
going to buy because there's not enough room to flip it.
I go, But we're not looking for that. We're looking
for retail value, and there is value to a buyer
who really can't afford the high prices in Palm Beach County.
Right now, you can get a home for under four

(10:54):
hundred thousand dollars four bedroom right, four bedroom, two bath
with a twenty twenty two roof at a roof right,
a thirty year warranty on that.

Speaker 2 (11:03):
Roof right, and nice yard.

Speaker 4 (11:07):
Right, and just go in there and make it your
own over time. You can definitely live in the house
right now, and then it's just your home improvement project.
And by the time you're done, you're gonna have so
much extra equity built into the house because because of
the work that you put into is going to raise
the value of the house significantly. Because three seventy nine
for a four bedroom house in Palm Beach County, I looked,

(11:29):
there is only eighty homes that are under four hundred.

Speaker 2 (11:32):
Thousands in the whole county.

Speaker 4 (11:34):
Yeah, for the whole county. Right, So this is one
of eighty homes out there, century located.

Speaker 3 (11:38):
Well, well, I'm sorry, go ahead, AJ.

Speaker 2 (11:40):
What's good about that home though, is that for somebody
that's you know, it's at the top end of their range. Right.
I want to get into that neighborhood. I want that yard,
I need the functionality.

Speaker 4 (11:50):
I need the fourth bedroom.

Speaker 2 (11:51):
I need the fourth bedroom. They can get in there,
move in and then replace stuff over time, and a
lot of people are willing to do that. And it
allows you to step into a home that you would
because if it was all renovated, it would be out of.

Speaker 4 (12:05):
The ring exactly. So it's going to be really interesting
who buys this house. Is it going to be a
savvy home buyer or first time home buyer or is
it going to end up being an investor who's buying it? Right,
So everybody out there saying there isn't stuff affordable out there.
There is, but you have to be a little more creative.
If you're on a budget, Yep, you can't just go
in and expect everything to be banned new. If you're

(12:26):
on a tight, tight budget. But that doesn't mean you
can't be a homeowner, and that doesn't mean you can
actually turn that tight situation into a very positive situation
in a few years down the line.

Speaker 2 (12:37):
Sure.

Speaker 4 (12:37):
So anyway, we are getting a lot of action on that.
It'll be interesting to see who gets it. If you
want to see it, just go to our Facebook page.
You could check it out.

Speaker 3 (12:46):
Over there Florida Talk real Estate on Facebook.

Speaker 4 (12:48):
I wanted to do a shout out to James ka
and his family. We took their listing. Last Saturday came,
I left the show and went over there and took
a listing over at the Villages of sandal Wood. AJ
knows that neighborhood really really well, so do I. It's
all a whole bunch of those I always called Bergen Devasta.

Speaker 2 (13:10):
I think those are the ones that they're the cod
and they're all over the state. By the way.

Speaker 4 (13:14):
Oh, I didn't know that.

Speaker 2 (13:17):
They were over there. I was like, oh my god,
that's the same.

Speaker 4 (13:20):
So those are the four the four town homes, two story,
they got the weird mansard roofs.

Speaker 2 (13:25):
People think they like the mushroom style because they've got
that that higher second story. The or thicker second story, and.

Speaker 4 (13:33):
They all have a nice little courtyard, fenced in courtyard
with each Probably my mom lives in one. Oh yeah,
a bunch of people, Yeah, everybody, because they got everywhere
I lived. I rented one when I was a reporter,
when I first got down here.

Speaker 2 (13:44):
I've rented on my bottom, flipped them here.

Speaker 4 (13:46):
Yeah, I've done all of that. Yeah, you're right. So
uh where this house. I'm not going to put out
the price yet because we've got to do a little tweaking.
They were thinking about selling it to a relative. We're
not doing that now. So I got a rec figure
the figures because they were going to give a discount
to the relatives. So we got to put on the market.
Needs a little TLC. So this is going to be

(14:06):
another example of where home buyers can come in, get
it at a lower price, definitely livable, and then come
in and you know, make it through own afterwards. That's
what I did with my first home. I bought a
home in Delray, and that's what I did. I bought
a sixty seven thousand dollars foreclosure. This is like ninety
four and I bought a sixty seven thousand dollars foreclosure.

(14:28):
And then over the next like six years. It took
me a long time. I popped the top off the roof,
I added stuff on the second story. I renovated every
square inch of the house and everything. And it was
fun and I enjoyed it because I was young, I
wanted to learn all that.

Speaker 2 (14:44):
I wouldn't go to persons game, but I did that
my first three or four homes, you know, and they
were little town homes to Vasta's, you know, things like that,
entry level. But yeah, I mean that really supplemented my
income back when I was in a whole different career exactly.

Speaker 4 (14:59):
And then what happened just like five years later after
you do that, right, and everybody goes, oh, you bought
a dog, you know, and you have to do all
this stuff, and then you fix it up all nights,
and then you see what your house is worth, and
they're still runting right because they didn't want to buy right,
And all of a sudden, you're sitting on all this equity,
sweat equity that you put.

Speaker 2 (15:16):
In and you got a couple thousand dollars in tools.

Speaker 4 (15:18):
Yeah, yeah, I had like a forty fifty thousand dollars
workshop that I was done. It was crazy.

Speaker 2 (15:24):
The longer you do it, the more those tools.

Speaker 4 (15:26):
Oh, it's so crazy.

Speaker 2 (15:27):
I was.

Speaker 4 (15:27):
I was a pretty good woodworker back can.

Speaker 2 (15:29):
You do it?

Speaker 3 (15:30):
The more you realize, Wow, I don't have any tools. Yeah, wow,
I can't do well. I need to do this.

Speaker 2 (15:34):
I can either pay someone three grand or pay eight
hundred for this tool and do it myself.

Speaker 4 (15:39):
I was so bad at everything at the beginning. I
knew I had to buy the right tool for the
right job because I wasn't. I wasn't creative and technical
enough and talented enough to kind of wing it another way.

Speaker 2 (15:51):
So I spent a lot of time at Harbor Freight.

Speaker 4 (15:53):
Oh, I dovetail the twelve inch tool compound minor sauce
sliding my saw for like two hundred and ninety nine.
They were awesome.

Speaker 2 (16:04):
How many How many of these homes am I going
to redo? How many times does a saw need to work?

Speaker 4 (16:08):
Back then, the dwelts were like five hundred, six hundred bucks,
and you can get it for two hundred dollars at
Harbor Freight. So if you had to buy two of
them over, you know, over five years, who cares? You're
still under the other ones? Anyway, enough about that now. Also,
I want to do another shout out to John R.
This is an interesting one. We're going to be selling
his condo in Point and Beach. He's got a two bedroom,

(16:30):
one bath condo on an intercastal community fifty five and over,
very affordable Sterling Village, and I was just.

Speaker 2 (16:37):
Going to ask if it was Sterling Village. I love
that neighborhood.

Speaker 4 (16:39):
Yeah. And it's right on the inter coastal, so you can,
like in your neighborhood, you can have nice walks along
the inter coastal and stuff. Your centry located downtown nice
to the nice big pool. The communities, the community seems
like it's keeping their stuff together pretty well as far
as Yeah, they.

Speaker 2 (16:57):
Got like fifty condo commandos that live there making sure
everything gets done and keep it tight, keep the budget low.
Yeah they do. I mean that's a self run and
they really do control their budget, which is great.

Speaker 4 (17:08):
He's doing some work on the house and we're not
putting on the market right away, but when we do,
we're going to be selling his house. And he wants
to buy a one bedroom instead of a two bedroom,
and he's thinking he's going to buy in the same community,
so it's going to be kind of interesting. He might
move from like one building to another building in the
community somewhere. I've never done that before, so that might
be interested. Thank you so much, and I felt like

(17:28):
there's one more shout out, Oh, Brian, Brian closed. Brian
the retired firefighter in Palm Beach County Sheriff's Office deputy,
thank you for your service. He closed on his home Monday,
and Dunellen, we were so happy that house did not
a praise. It went down thirty two thousand below a
praise value on a three fifty five.

Speaker 2 (17:49):
You mean below the a praise value? Was that far
below the purchase.

Speaker 4 (17:52):
Thirty two thousand below the contracted purgect price? You said, sorry, yeah, no,
thirty two thousand. So we put it under contract at
three fifty five and it closed it three what's thirty
two thousand three whatever? Twenties twenty three right, three twenty
three week close? That huge savings. That's like nine percent drop. Appraisers, Yeah,

(18:14):
darn appraisers. I'm happy for my buyer, feel bad for
the sellers. So Brian was super super happy. He's moving
into his new home.

Speaker 2 (18:22):
Now.

Speaker 4 (18:22):
Brian had to sell his home in Royal Palm Beach.
We had that house on the market for over nine
months and it was the lowest priced royal home in
Madison Green, which is a very nice community, Royal pomp
and we had the hardest time selling that property. We yep, yeah,
called random. Yeah, and he closed on Monday. So thank

(18:43):
you so much on that. And uh, I know there
was one morning. If I remember it, I'll call about it.
I'll talk about it later. I wanted to go.

Speaker 2 (18:51):
That's congratulations for sure.

Speaker 4 (18:53):
Yeah, thank you. Yeah, I wanted to go into a
fun you know. I always love these kind of stories.

Speaker 2 (18:59):
You know.

Speaker 4 (18:59):
Oh wow, hold on here, it's okay, Florida talk. Oh
there it goes Okay, I'm sorry, Yeah, sorry about that. Johnny.
He was so ready, He's like.

Speaker 3 (19:08):
Until the time. We don't need the you know, the
play by play looking for the artist. Yeah, Florida, you're
on Facebook and YouTube as well.

Speaker 2 (19:15):
Know what you is it?

Speaker 3 (19:16):
Love and share at floridatokrealestate dot com.

Speaker 4 (19:18):
This is just a you know, kind of fun story.
Orcan came out with their annual ranking of the most
infested termite cities in Florida and also in the nation.
So uh out of the top ten does My question is,
does Florida have any rankings in the top ten of
all cities in the nation, And if so, how many

(19:40):
cities do you think there are in this top ten
in Florida.

Speaker 3 (19:44):
I would say we definitely do, and I say we're.

Speaker 4 (19:50):
Of it.

Speaker 2 (19:51):
So give me three cities, three cities.

Speaker 5 (19:53):
I'm going four or what do you think'd say?

Speaker 2 (19:56):
Probably right around here at three. Four?

Speaker 4 (19:58):
Yep, Well, you guys are pretty good. Four okay, So
number one, Miami number two, Los Angeles number three, Tampa,
number four, Washington, DC, number five, Orlando, number six, West
Palm and then it rounded out as Houston, San Diego, Baltimore,
and Dallas. So those are let's see. But also twenty

(20:21):
six is Fort Buyers, thirty is Jacksonville.

Speaker 2 (20:27):
Cities like more than.

Speaker 4 (20:28):
Our Yeah we have. We only have ten percent of
the whole of the of the fifty, We're ten percent, right.

Speaker 3 (20:35):
I just would think the humidity, that the conditions would
just be so ripe for it.

Speaker 2 (20:39):
Then nice and warm, coasy, yeah, a little bit of
water there.

Speaker 4 (20:44):
I just thought that was kind of interesting. Just so
you know, some tips about termite infestation. If you have
temporary swarms of small wing dame sets inside your home
around the soil outside. These are signs that you might
have a tour might infestation. Cracked bubbling paint, and wood
that sounds hollow when tap. Mud tubes on exterior walls

(21:06):
would breams wood beams or crawl spaces, and accumulations of
wings or termite droppings.

Speaker 2 (21:11):
Those mud tubes, you know if you just walk around
and look every now and then, because I see them,
they jump out at me when I'm doing appraisals. Sometimes
all of a sudden, I'm like, oh, there, you know
that that's doc Yeah.

Speaker 3 (21:22):
Do they look like like wasps?

Speaker 2 (21:25):
It almost looks like, yeah, like those wasp like almost
looks like little cement structures that they make. Just picture that,
but elongated running from your grass up in up your
foundation wall. Oh so it's gonna be lower. Yeah. Yeah,
it's on the ground, the ground, yeah yeah, yeah, but
this is like it's coming out of the ground and
it's exactly what. It's just mud tube, that's what. As

(21:46):
soon as you see it, you're like, yeah, that's a
mud tube. Interesting.

Speaker 4 (21:51):
If we don't mind, I think we're gonna do the appraisal.
Tips on deal killers right now, and then to round
out this, to round out this segment, if you don't
mind it, okay, sure. So I was going to ask ag,
because we were talking about this over the over the
week and everything, what are the three deal killers that
can be caused by an appraisal even when the buyer

(22:13):
and the seller want to close the deal?

Speaker 3 (22:15):
Oh, I got one mud tubes everywhere there you go.

Speaker 2 (22:19):
The three most common things that that I see that
are that are going to potentially kill a deal and
or kill them the most often. It's going to be
any roof condition issues, any rotten wood, and also paint issues.
And I can go into those a little more. But
the big thing is people think that FAHA appraisals are

(22:44):
more stringent. Oh no, you know this is going to
be a problem if we go fah A. The problems
that I'm talking about that stop the deals, they stop them,
whether it's f H, a conventional VA, you know, whoever
it is, because there's significant problem that put the lender's
asset at risk because it's your asset, but it's their

(23:05):
asset too until you pay that mortgage off.

Speaker 4 (23:10):
And so let's go down one by one and let's
talk a little bit about those, okay, and like how
serious they have to be to actually be in the
report and stuff like that.

Speaker 2 (23:19):
All right, So a good example of how serious do
they have to be is going to be the wood rot.
If I walk around as I'm so, you know, we
do the inside of the inside of the house first usually,
and then I start walking around the outside, and I'm
looking for mud tubes. I'm looking for, you know, all
kinds of different things, but one of the things I'm

(23:39):
looking for is deferred maintenance. And that gets to the
roofline where I usually see wood rot, and especially where
it's most often a problem is on your sofet and
your pacia, And so that's the edge right below the
surface part of your roof, along the outer edge, and

(23:59):
that kind of barriers moisture from getting into the side
of the roof. So if I see one spot it's
a few inches, maybe a little hole, something that's fairly minimal,
then then that's not really going to be too big
of a deal. But immediately when I see one, I
start looking for two. And if I see two, I'm

(24:20):
looking for three. And and so when you have that problem,
it usually is not just in one spot. It's usually
that the person has let it go here and there,
and so wood rot like that that can that can
cause a flag on the on the appraisal, and the
lender can flag it. And the the reason that these
things can kill your deal is that, you know, picture it,

(24:44):
you're in the process. By the time the appraiser's out there,
You've already had the home listed, you've shown it a
bunch of times, you've got a contract.

Speaker 4 (24:52):
So now you went through the you went through the
inspection already.

Speaker 2 (24:56):
Yeah, because even though the appraiser might get out there
kind of early, it still takes us a little while
to write them. So now you're maybe two weeks from closing.
You got all your stuff in boxes in your living room,
you're ready to go. And it's a problem that the
bank comes back with we need this repaired, and so
it can slow down the process and that could be

(25:18):
enough to lose a buyer, you know. And then there's
the paint issues are kind of the same thing. When
I say paint, a lot of people are surprised. I've
had people call me really angry, why would you flag
or about another appraiser. You won't believe this appraiser flagged
my house for flaked paint.

Speaker 4 (25:34):
I've heard of that for VA, but that's the only
time I've ever had.

Speaker 2 (25:37):
Oh. Absolutely could be conventional too. It's any home built
prior to nineteen seventy eight, because in nineteen seventy eight
they started pulling the lead out of paint. But if
you have worn paint, chip, paint, flaking, any significant paint
issues on a pre nineteen seventy eight home, it's going

(25:59):
to get flagged most likely. And that's whether it's conventional FHA,
v A any of.

Speaker 4 (26:03):
Every time I hear about lead paint, I think about
how good the chips tasted when I lived in New York.
I went to New York school. This explains, yeah, explains
a lot, right. I'm sure a few lead chips up
in New York when I was up there when I
was a kid.

Speaker 2 (26:17):
Well, so the last one is a lot more obvious,
which is the roof. And we all know how bad
insurance is now. So and even the other day I
just had this on an approchal.

Speaker 4 (26:28):
Let's go back to cracking, even cracking, so any kind
of cracking pink, because the idea is allowing to release
to release the lead lead either that you ingested swallowed
and hail it somehow.

Speaker 2 (26:41):
Exactly it could be. In any real or selling a
home that's built prior to nineteen seventy eight is required
to give you a lead based paint disclosure for faha.
But I think, I mean, I do it all the time.
It's best practice.

Speaker 4 (26:55):
I think we don't remember if our policy is, if
your house is you know.

Speaker 2 (27:02):
But what I'm talking about, though, is that the part
of that a dendum. There's a manual that specified in there,
which you can get online through HUD and it goes
into what the specifics are the threats of lead based paint,
how to mitigate it, how to deal with it. But
you know, this is the thing. If you're getting ready
to sell your home, the paint doesn't have to match.

(27:23):
It just needs to have a good seal, So you know,
don't be so lazy that you don't address some basic
little things that can create a bigger problem later. And
it'll show better while it's for sale. So yes, you
need it because of the appraisal, but why not do
it before you list it, before you show it. It's
gonna look better and you're gonna have to do it
at the end of the day.

Speaker 4 (27:43):
Anyway, that's really important. I never knew about the cracked
painting for nineteen seventy eight, if it wasn't Va loan.
I've only at one time I had a vet from
US Coast Guard member, and he's family bought a house
with me, and they flew back to Puerto Rico to

(28:03):
get ready to move to the Miami base, you know,
that's where he's being transferred. And at the last minute
the appraiser said they wouldn't close because and this was
a newer home. It was like maybe let's say two
thousand and one, and we were buying it two thousand
and five. But the skirt of the home all wrapped around.
They put the SOD in before they painted the house,

(28:26):
and so when the SOD receded over time, because it
was a foreclosure, you could see a gray strip that
was unpainted about three four inches high all around No
was CBS, and it was all around the whole skirt
of the house, and we ended up we ended up.

Speaker 2 (28:46):
I ended up.

Speaker 4 (28:46):
I didn't want to lose the deal. The whole thing
was going to fall apart. So I went down to
Homestead with a bucket of paint and I painted the
whole skir of the house. I didn't even tell the guys, right,
I just made it happen for him.

Speaker 2 (28:56):
I don't know why I could see it with wood
if it's unfinished.

Speaker 4 (28:59):
This was Yes construction two thousand and one. Yeah, you
know it's weird, but I've only had that happen with DA,
so that's really good.

Speaker 2 (29:07):
Love.

Speaker 4 (29:07):
I love the show. I learned something. I learned something
all the time for the show's a.

Speaker 2 (29:11):
There's actually a specific spot in the form. It's on
page one of the appraisal where it talks about uh
hazards and so your appraiser should flag that even on
that that appraisal form being for any loan right as
a potential health safety issue or health issue. So uh.

(29:31):
The other things are roofs, and that goes from even
if you don't have a roof, but you have some
ceiling stains that are legacy, that have been there for
years and you don't even notice them anymore. If I,
as an appraiser, see a bunch of ceiling stains or
even a couple, if they look significant, I might call
for a roof inspection. I'm probably going to because appraisers

(29:54):
don't get up on the roofs inspectors do that. So
if we can't see from ground level, you know that
that it's a new roof, then I might say, Okay,
there's some ceiling stains, but there's a roof. I can
see from the permitting it was installed two years ago.
They appear to be legacy stains. But unless it's a
newer roof like that, I might just call for a
roof inspection, you know. And now again that can slow

(30:17):
the whole thing down. Now the roofer comes, you got
to find a roofer. You got to find someone to
say how much remaining effective, useful life the roof has
and that is a problem for your insurance, and so
it slows down the process. And anytime you slow down
the process, you run the risk of losing your buyer.
So those are why I say they're deal killers, even

(30:38):
though they're all, you know, things that you can overcome.

Speaker 4 (30:41):
They're fixable. Yeah, but they can be deal killers. And
they're surprising. There's surprises, but it's about easter egg, right,
It's like, hey, you.

Speaker 2 (30:50):
Know, what were you doing today?

Speaker 4 (30:52):
Yeah, let's go ahead and take a break. On the
flip side. We're going to start talking about a very
big deal with something that's going to happen in October
first that could really affect the real estate market. We
don't know how much, but there's definitely gonna be a
ripple effect. Don't know if it's a tsunami surfable or
just a little surfboard thing.

Speaker 2 (31:12):
I don't know.

Speaker 4 (31:13):
Well, we're going to figure out, but it's important for
people to hear because I think it's going to affects
out Florida a lot.

Speaker 3 (31:17):
All Right, We got a lot to get into, very
valuable information, and of course you're always welcome to be
a part of the program. Toll free eight seven seven
nine two seven six nine six nine. Should you choose
to dial in right now quick forming it breaking, we'll
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through there, and of course the dot com, the one

(31:39):
stop real estate shop that is Florida Talkrealestate dot com.
Access to the entire team. You get pros, pros experts
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When you're looking to buy a home, sell a home,
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We got a prospro for you at Florida Talkrealestate dot com.
You'l you like to pick up the phone. Dial eight

(32:02):
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We're back and for minutes. Thanks for being with us

(32:22):
every Saturday Florida Talk real Estate right here on Real Radio.

Speaker 1 (32:40):
This is Florida Talk real Estate with Jim Dapola and
Johnny c. Got a question for the show, Call us
live at one eight seven seven nine two seven sixty
nine sixty nine.

Speaker 3 (32:50):
Let's it toll free eight seven seven nine two seven
six nine six nine. If you'd like to be a
part of the program, please do not hesitate, don't be shy.
Dial in in our producer, extraordinary Jimothy. He'll line you
up at least you know what here, I am assuming Jimmothy,
if they call in, you're gonna put them on the air,
you know.

Speaker 2 (33:07):
Nope. See that's that's what I get. Mix.

Speaker 3 (33:15):
Okay, keep you busy over here.

Speaker 2 (33:17):
Good you guys. Good.

Speaker 3 (33:17):
Good to see as always, my dude, Thanks for all
your hard work.

Speaker 2 (33:20):
Good see you too, Johnny, and thanks for being with
us on a Saturday.

Speaker 3 (33:23):
US includes uh Aj Holman, he's with Experience Appraisers dot Com.
Good to see you, my friend.

Speaker 2 (33:28):
Good to see you too, sir.

Speaker 3 (33:29):
And US of course always includes our fearless leader thirteen
plus years now. I've told you he runs a top
producing caller Williams team. It's the Florida Home Pros team
at Kellowilliams Innovations.

Speaker 4 (33:38):
There's Jim Depola, jimmyd Hey, Johnny c Hey, Aja, Hey, Jimmy,
Happy you saw Florida, everybody else and hope everything's going well.
I want to get into this subject because it's going
to be a little, you know, a little jarring maybe
for some people, and some people might already be experiencing problems.
So I want to go over this. We haven't talked

(34:00):
about this kind of stuff a long time. But the COVID,
the COVID protections for forbearance on people that couldn't afford
their mortgages is expiring October first.

Speaker 2 (34:13):
That hasn't expired yet.

Speaker 4 (34:14):
No, to me, that's pretty crazy too. So this is
what I want to talk to about a little bit
of insight. And I have some really good stats about
foreclosures in the nation, and also like a real life
example that happened down here that might be a little
glimmer of insight basically into what the bigger picture is
with this. So I know of a homeowner that hasn't

(34:40):
made a mortgage payment for over five years and they're
still living in.

Speaker 2 (34:43):
The house because of the COVID forbearance.

Speaker 4 (34:45):
Well, here's the interesting part. What I found out was
is that they had a hurricane forbearance first and then
they slid right into the COVID for abearance.

Speaker 3 (34:58):
Did they I know, I'm way jumping the gun here,
but did they understand what they signed up for?

Speaker 4 (35:06):
The person was in a desperate situation, so they were
taking any hope they could, so they're like a drowning person.
So whatever, they didn't care who was holding the other
end of the rope. They just needed the rope to
desperate measure. So you do what you have to do,
and I don't want to. I'm not judging this person
they did. The short answer is they didn't care. I

(35:27):
don't know if they knew or not. They were so desperate.
This was relief. They got the relief that they needed. Gotcha,
I can tell you because there's I remember when we
used to do short sales and low mods and bankruptcy
and foreclosure defense many many years ago, almost full time.
We had a lot of people that were very upset
that we were doing that at the time, thinking that

(35:48):
we were damaging the real estate market when actually we
were buttressing it in my mind. Yeah, but the bottom
line is, so people are going to but I was
buttressing butchersing.

Speaker 2 (36:02):
Yes, but it's an old Pirates term.

Speaker 4 (36:07):
Didn't I use the Pirates term a couple of weeks ago?
But I thought I used the Pirates turm? Yeah?

Speaker 2 (36:15):
I love that.

Speaker 3 (36:16):
I don't know, is propping up, supporting, storing up? And like,
can I use that like in any way?

Speaker 2 (36:25):
But I'm sure.

Speaker 5 (36:27):
But in this particular case, they started with a hurricane.

Speaker 4 (36:32):
Right, So this person started with the hurricane forbearance. So
what happened was is they didn't make payments. Now, we
were warning people at that time, don't do it unless
you have to, because the fine print was and Johnny
explored this force for the show purposes only at the
time he found out just like we knew, was that yes,

(36:53):
you could stop your payments for a certain amount of
period of time, but when the payments kick in, you
got to pay everything back that you missed all at
on time. It isn't like they take it and put
it on the back end of the loan. So a
lot of people were doing it and didn't really need
to do it, but they're like, hey, I could avoid
my mortgage and then they got jammed up later because
they had a bill eighty twelve thousand dollars and like

(37:15):
I can't pay that right. So with this person, and
because I just want to say this about this person,
they went through a lot of personal issues, health issues,
things like that, very very serious, big boy life stuff.
So please don't judge what happened. I'm trying to explain
what happened though. So she goes into for forbearance for

(37:37):
the hurricane. Then she slides into the COVID forbearance because
she did lose her job during COVID, right, and she
was never able to work again because of her health issues.
So she's been living in there in a desperate situation. Now,
when you pulled, when we went back and pulled what
the mortgage was owed, there was all the late fees

(38:00):
and the ESCRO payments that were missed. Everything was added
on the late fees, the interest, the penalties, it was
all there. But there was a hidden twenty five thousand
dollars extra amount that HUD had And Hud was the
one that was directing the bank not to foreclose on
the homeowner. And Hudd was controlling that because it was

(38:23):
an FHA back loan. So Hud has been telling.

Speaker 3 (38:28):
But they can't for clothes while she's in a forbearance.

Speaker 4 (38:32):
Right, But they were right, that's true, Yeah they can't,
but can't well they can't. But also the situation was
FAHA was telling the banks what they can do through
that program, right, but they were telling them, don't worry
that they haven't made a payment in five years. You
know it's backed by us. So there's an extra twenty

(38:54):
five thousand dollars hidden bill there. And then I was
watching somebody else. We talked about this briefly a couple
of weeks ago, where this UH data analyst guy from
Tampa that I follow a little bit, and he was
saying that there were a million of these FHA four
bearances across the country right now.

Speaker 2 (39:12):
That should be some stat that's kept right right.

Speaker 4 (39:15):
He was using adam at t OM data analysis, which
is a pretty reputable real estate national real estate data
analysis of like all the big stuff that's happened in
the industry, not like granular like what's happening in Saint
Pete or something, but the big, big trends. So let's
go over a little bit. So what's happening is October first,

(39:37):
all those protections.

Speaker 3 (39:39):
Real quick, though, I'm sorry that million that you're dude,
you're talking about on Tampa that million? Is that that's nationwide?

Speaker 4 (39:45):
Yes? Nationwide? Okay, yeah, the Tampa guy was talking nationwide. Okay, Now,
what does this mean that the COVID thing's gonna the
fourbearance is under October first. They can kick in the
foreclosure filings as soon as that ends, So all these
banks that haven't been paid for all this time, they
can kick in and start the foreclosure filing process. Just

(40:06):
like normal, like a normal foreclosure, right, And a lot
of these people haven't made their payments for very long time,
so there's a lot of money owed. What's also going
to be interesting is a lot of these people probably,
I mean, I I'm not sure yet because we don't
have the people coming in in mass but I'm sure
a lot of these people are gonna have equity. I
think they're gonna have equity in their house. But here's

(40:27):
the thing, quick, quick question though, real quick, real quick.

Speaker 3 (40:30):
In that four barance, do they so they have to
pay the property taxes outside of the askro right?

Speaker 2 (40:36):
Or excuse me?

Speaker 4 (40:37):
The insurance that's all paid? Is that's all that was
all paid in this case that I saw, the granular one. Yeah,
it was paid by the bank.

Speaker 3 (40:46):
Okay, so for five years, So not only the the
mortgage obligation, right, the interest, the any penalties, but you're
still going to have five years of property insurance that's
been covered and five years of property tax.

Speaker 4 (41:01):
That's that was all included in the bill that we had.

Speaker 2 (41:04):
In my head, I'm adding this all up. This isn't
they haven't paid.

Speaker 3 (41:09):
Anything bigger than I can imagine.

Speaker 2 (41:13):
And well, here's the question, is that insurance at the
normal rate.

Speaker 4 (41:17):
No, No, it's usually two and a half times is
the first place insurance, so the banks, So.

Speaker 2 (41:22):
It's even more expensive than normal I can imagine. Yes.

Speaker 4 (41:25):
So the thing is the interesting part though, unlike the
last foreclosure wave that we had back in you know, nine,
let's just call it nine those earlier, is that they
didn't have any equity. Most of these people have equity
in their homes. But here's the trick, and this is
going to be so frustrating for people. They can't get

(41:46):
into it. We've already had a couple of cases with
Mike that called earlier this.

Speaker 3 (41:50):
Year until they get flushed, until they're caught.

Speaker 4 (41:52):
Up, well, no, because then they got to keep their
nose clean for a year before they can even apply.
They can't. They have to have twelve twelve months of
perfect payment history.

Speaker 2 (42:02):
Oh before they could refire.

Speaker 4 (42:04):
They even before they can tap the equity. So even
if they paid everything back in their current they got
away twelve months from that point or so, or they're
gonna have to sell it. Is what's gonna happen. A
lot of these people are gonna have to sell their
home because they can't tap the equity, so they're gonna
sell the home and then the good news is they're
gonna have money when they leave. They're not gonna be desperate. Well,

(42:27):
well most of them will.

Speaker 2 (42:29):
No. I was just gonna say that though, because it's
not just the inventory coming on market. It's gonna be
offset by the fact that those people would stay in
a home and probably will try to purchase something else
if they can or figure something out, like I don't know,
I guess, I guess they're not gonna be able to buy. Yeah,
they won't be able to buy. Yeah.

Speaker 4 (42:48):
So so what's gonna happen is those people. If you
needed to take the COVID, you had to take the
COVID because you needed it, right, But there was a
lot of people that took it because they wanted to
take it and did really need it. And those people
if they played with this fire too long and they
didn't just say, you know what, it's been long enough,
I want to get back into graces, And now they're

(43:09):
coming and knocking on your door and basically saying, hey,
you've got to pay up now, right.

Speaker 3 (43:14):
Yeah, it's hard to feel bad for those folks.

Speaker 4 (43:16):
Well, the thing is those people they need to know that.
This is what you need to know about this if
this little wave comes through, and I don't know, I
don't think it's going to be gigantic, right, but Florida
is in the top three foreclosure markets, no surprise, top three,
and we're going to get into that top three mortgage
foreclosure prices. Okay, top three more foreclosure areas in the

(43:40):
whole country. So we're going to get into that in
just a little bit. We've got remember no, I remember
where we are the foreclosure crisis. Natalie's calling in right now.
She's going to be doing a couple of free events
coming in to help people with some legal aid stuff.
Some of it's estate planning and some of it could
be stuff like this, Hey, I'm in trouble with my mortgage.

(44:02):
I need to talk to a lawyer for free. This
would be a great group to talk to. So let's
get Natalie on the phone.

Speaker 5 (44:08):
There we go, Natalie is on the air with Florida
Talk Real Estate.

Speaker 7 (44:11):
Here you been, Natalie, Hi, Good morning everyone, Happy South Florida.

Speaker 2 (44:17):
Good morning.

Speaker 4 (44:18):
We're all laughing in here because this is last from
the past.

Speaker 2 (44:22):
Now.

Speaker 4 (44:22):
He used to be on the show for many years
and yeah, now she's in a whole different career.

Speaker 6 (44:27):
What are you doing now, Natalie, Well, I still do
in real estate, but I open up a business when
I'm doing multi services pro se.

Speaker 4 (44:41):
So hot services.

Speaker 3 (44:43):
What degree?

Speaker 7 (44:45):
It's a process. Process means that someone comes to me
and say, hey, can you fill out these legal documents
and maybe record at the court or fill out the
blank lego document?

Speaker 4 (45:00):
Oh pro say very nice, Yes, it's pro s.

Speaker 2 (45:04):
Yeah, so that's pro se and buttress for those of
you who are paying attention.

Speaker 4 (45:09):
Yeah, weird words of the day. You're making fun of
my vocabulary. Yeah. So, and what's the name of that company?

Speaker 7 (45:18):
Then the name of the company is Pangaea More Disservices.

Speaker 4 (45:22):
Okay, great, And I know that you've been I've been
watching on Facebook and you've been doing a bunch of
events all over the county with a bunch of different
groups and you got one coming up soon. Is that correct?

Speaker 2 (45:33):
Yes?

Speaker 4 (45:34):
And no? And the groups are I saw it was
the Palm Beach County like Economic Development Board, Free Legal
Aid Society, your group, Pangaea Multi Services. And I think
there was another person, another group, a county group being represented.

Speaker 7 (45:55):
Yes, so this is what I'm doing, right, now, Jim,
you know, always my background is always helping our community.
It's either in real estate or information that Pomplish County
offers to all of us. So because I've been going

(46:16):
through to every cities and meeting probably like six months ago,
i met representatives of Pombich County from the Department of
Housing and Economic Development and that we're talking about all
these free programs that there is in place for homeowners

(46:39):
and business owners and Pombiche County. So Pombiche County has
a lot of money to give away to business owners.
And right now, the reason that I'm calling is Pumbage
County has a lot of funds right now that they're
offering only to homeowners. They leave them Pombiche County they

(47:03):
can do a free state planning with Legal Aid Society.
So this workshop is gonna be on Thursday, October second,
from five thirty pm to seven thirty pm. So this
is how it works. So the representatives from Pombiche County

(47:24):
from the Department of Housing and Economic Economic Development and
the Legal Aid Society are gonna do this free workshop
and free state planning, which means testaments, living well, healthcare, surrogate,
a Lady Bird deed. If you have issues on your deed,

(47:47):
they can fix those. If you are in a process
of probate, they will assist any homeowners and Pombich County
with free services and these ones are free legal services,
and that the attorneys are just wonderful.

Speaker 4 (48:05):
And oh yeah, let me let me just chime in
here just for a second, Ellie, the because you're describing
it really well, let me tell you in real life
that people need this stuff all the time. A lot
of people I come to their house, they've done Lady
Bird deeds on the kitchen table on it literally like
on a napkin or a piece of paper, and they

(48:28):
write stuff and then they have each person sign it
like it's really witness and everything and they think it
and they really think it's good. Yeah, and it's amazing
all of those people who were afraid, all those people
who were afraid of calling an attorney because they felt
it was too expensive. And in most cases it's a
couple hundred bucks. It's not a lot of money. But

(48:49):
if you haven't done that and you're afraid of calling
attorneys because you're afraid of cost, this is a great event.
It is a really great event. All those people that
have done this and go I don't know if I
did it right. You can go for free and find
out if you did it right or not.

Speaker 2 (49:02):
And if you haven't done it, if you have what
you should be doing.

Speaker 4 (49:05):
Yeah, this is a great event.

Speaker 2 (49:07):
That's great.

Speaker 4 (49:07):
Nie, I'm sorry you mean a I wanted to bring
that up.

Speaker 7 (49:10):
No, that's okay. But yes, I believe that everyone in
Pombani to have their affairs in order. I did, my
parents did so a lot. I did want our workshop
Spanish and it was a success. Why because people don't

(49:31):
understand these legal matters on stair planning. People don't like
to talk about death, and you have to have your
documents and order testaments. The only thing that they do
they don't do is they don't do trust. But they
do all the documents, and a lady birdy must be

(49:56):
done number one for a reputable title company and second
with a real state attorney. Please don't have a paralegal
or an attorney who does family law or an immigration
law or even a notary public. Do not do those

(50:21):
lady birdies with these people. Because there is a certain language,
then it must be and there so it can be
effective when the people when the person passes right, and
then you take that. I mean, you're going to avoid probates.
But if I did, it's made wrong. And if you
go in front of a judge because you have a probate.

(50:44):
Some people screwed up people's deeds. I have to send
it to a title company and I'm like, hey, you know,
I'm not an expert add but what I can read
in here is wrong. That doesn't have hesleegts, nothing. So people, please,

(51:05):
they need to go to the right people to do
your deeds on your house and this and to make
sure that does it has been.

Speaker 4 (51:16):
Recorded and wearing green Acres is going.

Speaker 1 (51:19):
To be.

Speaker 7 (51:21):
Okay. So I have to thank doctor Philip Paris, who
is the director of the Development Department at the City
of opreen Acres, that he let us use their space
at the city hall green Acre City Hall. So the
address is five eight zero zero Melaleuka Lane and Green Acres,

(51:47):
So it's going to be inside of the city hall.

Speaker 4 (51:51):
So so if you can't spell, if you can't spell mail, look,
it's also sixth Avenue South, isn't that right?

Speaker 2 (51:58):
Part?

Speaker 4 (51:58):
Like that's just mel Lucas six seven.

Speaker 2 (52:03):
This location it's east of jog on sixth. Yes, I
think I've driven by that complex. We used to have
tree burning parties there back in.

Speaker 4 (52:15):
The back in the day. Tree burn I used to
love doing. I used to love doing that out in
the tavy when I used to grow up, I used
to go out in the mud and go burn Christmas trees.
They go up like crazing. Nellie and everybody else listened.
I did put it on our Facebook page, the post,
so the whole flyer is there, so you can have
all the information at Florida Talk real Estate on Facebook.

(52:38):
Anybody that is having any kind of issues with their
property they want to transfer to a relative, or protect
themselves from probate, or have probate questions, or any legal
aid society questions. This is a great event to go to.
It's a free get the reputable people.

Speaker 2 (52:57):
I mean, yeah, seriously, that that's a I would I
would have known about this the last month. You know
how many clients I've done appraisals for. Oh, that could
have probably call everybody that I'm doing work for right now. Yeah. Great,
that's real helpful.

Speaker 4 (53:09):
Well, Natalie, thank you so much for calling in.

Speaker 7 (53:14):
Thank you, Jim. Please share this valuable information because if
you're a homeowner and live in Pumbish County, you should
take advantage of this because there is money out there
for all of us.

Speaker 4 (53:27):
Yeah, and there are a bunch of programs that they'll
talk about out there too.

Speaker 2 (53:31):
Excellent.

Speaker 3 (53:31):
Okay, Natalie, thank you very much for your time, Thanks
for being so awesome, and have a great rest of
your weekend.

Speaker 4 (53:37):
Thank you, thank you.

Speaker 7 (53:39):
Having a nice weekend, guy.

Speaker 4 (53:41):
Great weekend.

Speaker 3 (53:41):
As you've noted, you can find all those details on
the Florida Talk real Estate Facebook page. And as we
always say when it comes to floridatalkre Estate dot com,
uh no, we use it, love it. We say share
it because you never know if you hit share right,
So hit share on that Facebook page, if you're on Facebook,
you might just absolutely put somebody that needs this in

(54:02):
a great position.

Speaker 2 (54:03):
And this is the kind of stuff that you now.

Speaker 3 (54:05):
Even your closest people don't share this kind of details
about their life. You could be helping them out tremendously
without even knowing it. So innocent enough, just hit a
like and share and you can change lives. That's a
beautiful thing.

Speaker 4 (54:18):
Thank you so much. Why don't we go ahead? And
I know it's like two minutes early. Let's go ahead
and take the break if you don't mind, sure, and
then on the flip side, we're going to continue with
the foreclosure thing on October first. I wanted to bring
up the meeting that now he's going to be in
because those Legal Aid Society people, if you're in trouble
with your mortgage, that might be a great resource for

(54:38):
you to go that Thursday and ask the Legal Aid
Society some free questions. Of course, we always got the
law Office of Polycrasker course back in US, and you
can get free consultations with them too.

Speaker 3 (54:48):
But if it has really become a familiar scenario for
you as we're mentioning this and you're like, oh my gosh,
that's me. If you know you've been at a forbearans
and you're not quite sure what's going to happen, that
might be a really good event for your tent, even
if you end up going elsewhere for your help. Get
the information. It is powerful. Information is and going to
people that are good at what they do is very important.

(55:09):
That's why we offer you Florida Talkrealestate dot com, the
one stop real estate shop buying a home, selling a home,
stuck with a home, you don't know what to do
and you need a prose pro Well. Florida Talkreestate dot
com is a click away.

Speaker 2 (55:21):
No what use it?

Speaker 3 (55:21):
Love it, share it. You can change lives, including your
very own with the prospros a Florida Talkreestate dot Com.
Four minutes from now, we're back at it. Thanks for
being with us every Saturday. Right here on real Radio.

Speaker 1 (55:45):
This is Florida Talk Real Estate with Jim Depola and
Johnny c. Got a question for the show. Call us
live at one eight seven seven nine two seven sixty
nine sixty nine.

Speaker 3 (55:54):
Still about twenty minutes or so. Remaining twenty three minutes
or so on a Saturday. If you'd like to dial in,
do it eight seven seven nine two seven six nine
six nine. You're more than welcome. Thanks for being with
us every Saturday. Locker Room's coming up before you know it.

Speaker 2 (56:09):
Here Jimmith is our producer. Extraordinair. Locker Room is live today. Yes,
absolutely and no.

Speaker 5 (56:16):
Theater football though pretty good their bye week. There's two
bye weeks, aren't there now?

Speaker 2 (56:23):
In this season?

Speaker 5 (56:25):
I do believe when I looked at the schedule, I'm
not sure I was surprised. I was surprised by that.

Speaker 2 (56:29):
I'm not sure about that.

Speaker 4 (56:30):
It could be did you see any preemptions yet? Yes,
you just see episode.

Speaker 2 (56:36):
Or there's always one.

Speaker 5 (56:37):
With Florida State because they always play that game at
twelve thirty if I'm not.

Speaker 4 (56:42):
Mistaken, right, Okay, yep, every week, so there's.

Speaker 2 (56:46):
At least one.

Speaker 3 (56:47):
Well, thank you for being with us on a Saturday.
Jimmithi's are producer starting their Johnny c is me aj
Holmes here, he's with Experience Appraisers dot Com. Hello Aja,
Good morning sir. And of course Jimmy d. There's jim Depoli.
He's with the Florida Home Pros Team Kellowaiam's Innovations.

Speaker 2 (57:00):
Hi, Jimmy.

Speaker 4 (57:01):
Hey, how's it going?

Speaker 2 (57:02):
It goes well? So what are we talking to praising?

Speaker 4 (57:06):
Yeah, we're talking about praisers. But before we start that,
I'm sorry. Oh I was because I was reading some
comments from PF and Megali and stuff. Now I got
it was pretty cool. Now we got some of our
listeners on YouTube talking each other and right now going
back and forth. That's kind of cool. Okay, I want

(57:27):
to just do one more little shadow member, so I
forgot I knew I forgot something.

Speaker 2 (57:32):
Uh.

Speaker 4 (57:32):
The charity of the charity that we talked about last week,
the Nights of Pythagoras Mentoring Network KOPMN. We were hoping
that we're going to have a website with a PayPal
link today so that we could tell everybody. I was
going to put it on the channels and say go
out there and please support the group. But the kids
didn't put to get the thing together right away, so
we're going to do it next week. Okay, So what

(57:54):
you need to know is the Nights of Pythagorasts Mentoring Network.
We've been sponsoring them for charity stuff for quite a
while now. We help them get raise money for a
or had one of our customers donate a card of
them last year. This we also got a van full
of materials clothes and all kinds of school materials and

(58:17):
everything last summer, this summer or this year what we're
trying to do. I found out that they have a
podcast on Facebook KOPMN Facebook page, and it's so their
computer's so slow that it isn't working well for them,
so they need a new computer. These kids have been
doing this podcast now for like six years. Day in

(58:39):
day out without missing it. They're really dedicated to this.
These are all young kids. They're like middle school kids
to high school kids that are learning these trades. We're
trying to get a computer that will be strong enough.
We found an Airbook a MacBook Pro that we're trying
to get for fifteen hundred dollars. Aj was nice enough
last week to say that he would like to donate.

(59:00):
I have a guy named Nate. Nate s from our
Facebook fan page is also going to donate. I'm going
to match up to seven hundred and fifty dollars. I'm
going to match anything that's in there because I really
want to get in the bigger computers so it to
last a long time. Anybody that would like to help,
please help the group. They do great things for these kids.

Speaker 2 (59:22):
Super cool.

Speaker 3 (59:23):
Okay, you might be able to check out their Facebook
page and see a link on there possibly, but as
Jim noted, hopefully by next weekend we'll have a link.

Speaker 4 (59:30):
For we'll have it more set up, more properly, and everybody.
It's a legitimate five oh one to three c charity.
It's a registered charity. You can actually get a tax
deduction in case you want to give a bigger donation
or something. And if you want to find out more
about the program, just call me. I've been supporting them
for twenty something years.

Speaker 2 (59:50):
Anyway I can excellent.

Speaker 4 (59:52):
So AJ, we're going to get back to appraisers appraisal
questions again. And this is always something that I always
find interesting when you go and meet with the seller,
for example, and they are like, should I order appraisal?
And I was thinking, uh, maybe maybe not right.

Speaker 2 (01:00:10):
Yeah. A lot of times you call me and go,
what what makes sense right, you know, for this client,
this house, this situation.

Speaker 4 (01:00:16):
You know so, and and sometimes you don't really need
an appraiser. And one thing I love about a J
and that's the thing about our show with Everybody, with
Ross Kamaroness from bright Way Insurance, from Mike the mortgage firm,
Paul Krasker from the Office of Paul Krasker. We always
try to help. So so if you feel that doing
an appraiser, an appraisal isn't really going to be worth

(01:00:39):
the money that spent. I've seen you tell people I
don't think that you should do. And that's what I love.
One of the many things I love about AJ and
experience appraisers. So let me ask you, AJE. Integrity count.
But integrity count, So what are what are the three
most common reasons for hiring an appraiser?

Speaker 2 (01:00:59):
Well, the most common reasons that people hire me as
an appraiser, I would say, is friendly sales. So if
you're selling to a neighbor or a relative or somebody
like that. Also, if you're preparing to sell to the
open market, you know they'll have me come out help
them set a pricing strategy or like we were just

(01:01:20):
talking about, we'll go into in a minute. And then
also a state planning or step up in basis, so
things related to somebody passing away, a date of death, appraisal,
trying to avoid your capital gains.

Speaker 4 (01:01:34):
Okay, so let's go and teach of those one by one.
So let's just go into order we started at.

Speaker 2 (01:01:38):
Okay, so friendly sales. You know that the biggest thing
here is that ignorance, right Like it's it's your brother,
your friend, your neighbor, whatever. You want to do a
fair deal that's fair to all parties, but you're just
not quite sure what that exact number is. And of
course everybody you're obviously motivated to see things in rose

(01:02:00):
colored glasses or be like, oh, that place is kind
of beat up. I don't know if it's really worth that.
So by me coming in completely independent, on biased, no
skin in the game, I just come in and say, okay,
this is this is what I think the most probable
price it would sell for in the open market. You know.

Speaker 4 (01:02:18):
I just had one of those deals. We're going to
be closing with Joe and Linda next in two weeks
I think. And they came to me about two months
ago and said that they needed to sell a house
they inherited, but they wanted to sell it to a relative.
And so I did comps and said, look, I know
that I'm very confident we could sell for this price

(01:02:40):
or more, which was significantly higher than what they wanted
to sell to the relatives. So I had to have
a talk with them about that and say, look, you
could do whatever you want, sell for a dollar if
you want, you know, and people do that. There's nothing
wrong with that, but I need to tell you, as
your realter, because you're hiring me, this is when I

(01:03:00):
think that leave it so money and you're leaving money
on the table. They were okay with that, which a
lot of relative situations they are. And the other thing
you can do when you get that appraisal is you
could start working out how to do the financing better.
So if you are selling it low to a relative
on purpose, well what you can do is you can
if the relative doesn't have enough money for down payment

(01:03:22):
or closing costs or things like that, you could work
around the price and give a lot of money back
to your relative. You're just going to buy the house.

Speaker 2 (01:03:30):
A gift of equity. And I've seen that on regular
loans before, so that you know, that's definitely reason to
get it to Oh was I just going to say that? Oh?
The other thing that I always tell family members so
go look, you know, because they'll go, well, we want
to give them a good price of this, and I go,
that's fine. My appraisal is still going to be the same.

(01:03:51):
But you know, if you want to give them a
discount from that, great, But know where your starting point is.
And the other thing I always tell these people too,
is if this the all of my comparable sales that
I'm using all sold through MLS, because those are confirmable sales,
well that means the seller paid five to six percent
commission on almost all those, so you can knock that

(01:04:13):
off the price because you're saving that. As a seller,
that's that's a cost burden that you don't have because
you're selling it.

Speaker 4 (01:04:18):
To a still getting the same and you'd.

Speaker 2 (01:04:20):
Still be netting the same as you would if you
sold on the open market at full price for what
I just appraised it for.

Speaker 4 (01:04:26):
Now, what would be the second reason to.

Speaker 2 (01:04:29):
For an appraiser to come out? The biggest one is
people getting ready to sell that. You know, sometimes they
have a realtor and or or multiple realders have come out,
but they've gotten I had somebody last week said, okay,
I've had one realtor come in and it says they're
an appraiser as well. I'm not never did really confirm that,

(01:04:50):
but they said, well, I'm going to make up some numbers,
but I won't be that because I don't want it
to be perfect. But they said, you know, well, your
your place is worth nine hundred thousand, and then the
next worlder that came in said, well it's somewhere around
two and a half to three million. And I get
calls like that. More off you're hiring, you know, Yeah,

(01:05:11):
so you know they'll have me come out because again
they go, look, I want an unbiased opinion. You're you're
not trying to capture this listing, so I know you're
not motivated to maybe inflate the number to make me
pick you as my realder so. And then other times
it's just because you know, we were just talking about

(01:05:32):
times that I don't appraise something. I had a realtor
call me just just last week, and I'm not going
to say the neighborhood, but there you go, look, you
know I might get this listing. And at first they
said to homes thirty seven hundred under air, and then
I started looking at it and I said, no, this
home is twenty four hundred under air with a twelve
hundred foot attached guest apartment. And they're like, well, that's great,

(01:05:56):
you know, and I goid, no, that's horrible. Nobody has that. Nobody,
So now how am I? Number one, it's abnormal to
have a guest house that's fully half the size of
your regular home, right And number two, there's no guest
homes in this neighborhood or this sub market pretty much
in general.

Speaker 4 (01:06:13):
So I say, is it under six hundred thousand?

Speaker 2 (01:06:17):
No, it is not it's about double out of it.
But but you know it. So I told her I
could look because her first thing was, aj, I need
you to come out and do an appraisal. And once she
told me that, I said, no, we don't need me
to come out and do an appraisal because I'm not
going to be accurate and it's going to cost you
a lot of money for me to try to figure

(01:06:37):
it out.

Speaker 4 (01:06:37):
I really want to talk to you just I don't
want to get too deep into this, but if you
can give me highlights that to me is so surprising
to hear, and this is not the first time I've
heard it. That's why I want to talk about it.
Where appraisers sometimes don't want to do the appraisal because
they feel that the value they're giving is too much
art and not enough science. If you will, I'm using

(01:06:59):
it that term. But like the log cabin home, let's
go ahead and use that as an example. I had
a log cabin home for sale, and log cabin homes
are very difficult to comp because the banks a lot
of times only want at least a couple of the
homes to be log cabin, and you might not have
a lot cabin for god knows where. So and this
one had an outbuilding and there was some other stuff

(01:07:20):
involved in it.

Speaker 2 (01:07:21):
Yeah, building, Yeah, the.

Speaker 4 (01:07:22):
Outbuilding was really it was really rough, you know, to
figure out what it was worth. And I you were like, Jim,
I can't give you a value, but it could be
the variance could be so wide that it's not worth
paying the appraisal.

Speaker 2 (01:07:37):
So well, there's there's two different two different things. One is,
as a standard for my industry, we do not take
an assignment unless we believe that we can develop credible results.
But that's a subjective term, right, How credible is my result?
So so that's one part of it, is that's like

(01:07:57):
a legal requirement or a certification requirement. Then the other
part of it is is I always when somebody calls
me for an appraisal, I'm always trying to find because
I only do private appraisals, so they're not always calling me.
They're never calling me for a loan. So my thing is,
what is it you're trying to accomplish? Like I know
you know, and right away I'm trying to find out

(01:08:18):
what my home is worth. Yeah, no, I know that,
But what I'm saying is is that because you're getting
ready to sell it, or is that because you're you know,
what is your end goal? Because what I'm selling is
peace of mind. I'm selling trying to help you make
it a more informed decision. So my second qualifier on
whether or not I should do an appraisal is does

(01:08:40):
it make sense? Is it going to accomplish the goal
that this person's trying to achieve. In the case of
this realtor, she wanted to have a good idea of
what she should list the home for, and I said, look,
I'll give you some guidelines on how I would come
up with the number, and I'm just going to tell
you to go do that because you're going to be
able to do it as well as I could. So

(01:09:01):
what I told her was, figure out what the twenty
two hundred square foot house is worth on that lot,
with that pool, everything else. Then take the guest house,
figure out how much it would cost to build that
guest house, depreciate it, and add that on to the
price of the twenty two hundred square foot package. That's
not the most accurate thing in the world, it would

(01:09:23):
be the best thing I could do to try to
come up with the most accurate number possible, But at
the end of the day, that's not rocket science, and
a realtor could do that just as easy as an
appraiser to come up with a ballpark number for listing
and not pay me twelve hundred dollars to come out
there and thirty hours to sit at my desk and
try to make that happen in the most detailed way possible,

(01:09:44):
when really that's not what you.

Speaker 4 (01:09:45):
Need, right And that's one of the things I wanted
to talk about with hiring a praiser to determine the
value your home. If you have a decent realtor and
you're in a regular neighborhood, cookie cut our neighborhood and
stuff like that, unless the house is super unusual or
certain features, any realter worth their salt can tell you

(01:10:07):
what your house is worth on the open market at
that given moment. It might not be the same reasoning
is behind as the federal reasoning that you have to
use the metrics you have to use for your appraisal,
but realtors know what it's going to take to sell
the house. There's been several homes I just sold recently
that we were way off on price when we started,

(01:10:28):
and I told them that, and then I told them
where I think we should be in all three of
those songs I'm thinking about right now, all landed within
five thousand dollars where I thought it was going to
land anyway. And if you've been doing it long enough,
you should be able to do it so you don't
always need to pay for the appraiser. But you also

(01:10:49):
should have a relter good enough that if they know
they're not sure, I might say, hey, I'll pay for
the appraiser, mister seller, so I can make sure that
I'm selling the property properly for you.

Speaker 2 (01:11:00):
It's funny. I just had the conversation this week with
one of my peers, another appraiser, and he said, you know,
I got a call from a realder the other day
and she said, I'm trying to sell my own house,
and you know, and we both said, at the same
time out loud, then why are you calling me? Why
are you calling me? You know? And at the end
of the day is sometimes people act like we have

(01:11:21):
some secret crystal ball thing that we look at like
if the data's not there, you know, And in that
instance he looked at it, he goes, well, you're listed
a quarter million dollars higher than three comps that are
in your neighborhood that you could walk to easily from
your front door, that are the same model. What's your question?
Why am I not getting showings because you're a quarter

(01:11:43):
billion dollars high?

Speaker 4 (01:11:44):
And RILs are famous for. It's so funny because it's
just like, uh, you know, the realtors are famous for
overpricing their houses when they're their own homes. Yeah, their
own homes. They always overprice them, like really, yeah, really,
well I don't have to sell it. They're just like
everybody else with there selling. It doesn't matter all the
realtor skills that all goes away your own You become

(01:12:09):
like any other seller. What do you mean I got
the brand new kitchen? What do you mean my house
isn't worth fifty thousand more? Right, it's like that kind
of thing.

Speaker 2 (01:12:16):
Well, it's yeah, it's funny, and you know, and he
ended the conversation in his mind. At least you know there,
I just saved you five hundred dollars. Yeah, you know,
in two minutes. That wasn't hard. So so, but we
do there there are times, like you said, special features,
things that are too large. You know, I can think
about there was a home in Atlantis that's over ten
thousand under air and it backs all three golf courses.

(01:12:38):
I've got called on that over the years. Every now
and then I'm like, oh this house, Yes, I know,
I know, that absolutely unique and impossible.

Speaker 4 (01:12:44):
So let's let's wrap up with the third thing. So
we did.

Speaker 2 (01:12:47):
Let's just say the third things just and and you've
had people on the show talk about it before. But
for a state planning, which they're doing that workshop, that's
one of the things that are going to be covering
and that's why MI go down there to see if
I can help. But doing the step up in basis
when you inherit a home so that you don't get
crushed on capital games later when you sell it, that

(01:13:07):
is forty percent of my business. Probably a lot of
people from out of state inherited it from mom and dad,
and you know, maybe there's three or four kids, so
one appraisal, all of those kids can use that for
filing their returns, for working with their accountant on their
capital gains. So that's a that's a big one too. Benefit.

(01:13:30):
Oh yeah, it's massive. I think I told you I
had a guy late last year whose father had bought
the lot for five thousand dollars in the fifties and
it was worth They had split the lot between the two.
It was worth about two million dollars. But he bought
it so long ago. This was a really old guy
and this was his father, and you know, it was

(01:13:53):
like it's in the fifties when he bought it on
the beach, almost the beach, you know, five grand vision.
That's a good Yeah, you could walk to a public
beach was literally like one hundred yards from the house.
It's amazing cool.

Speaker 4 (01:14:09):
I just sent you before we wrap up the show
in just a little bit. I just sent you Natalie's information,
so you guys trade each other. I texted both of
you just to remind everybody. There's going to be event
at green Acre City Hall on Thursday at five point thirty.
It's going to be the Legal Aid Society, the Department
of Economic Development for Palm Beach County, a bunch of

(01:14:31):
other groups and Pangaea Multinationals or multi services. They're going
to be going over probate, estate planning, lady bird deeds,
other kind of issues. So if you have anything that's
going on, it's so important to make sure that you
have your stuff taken care of with your house. Go over.

(01:14:51):
This is a free program with free attorneys and maybe
even a free appraiser is going to be there, because
aj might be there volunteering if nowly gets up with them.
So just make sure that if you have any kind
of questions there were If you're either older or you're
relatives older, and you think that you know what you're
doing trying to transfer the property or protecting the property

(01:15:14):
from probate, and you haven't talked to any professional, you
don't know what you're doing.

Speaker 2 (01:15:18):
Yeah, so just go to this thing.

Speaker 4 (01:15:20):
It's free, free, it's it's a great free program. Where
about that free, free, free is good?

Speaker 2 (01:15:25):
Yes, And so please set us state planning so they'll
they'll stay planning advice even if you have no idea
what to do and go in there and say, look,
I'm getting end of life here and I need to
figure some things out. Sounds like they're gonna have people
there to help.

Speaker 4 (01:15:36):
Absolutely, what an amazing resource.

Speaker 3 (01:15:38):
And of course that's also on Florida Talk real Estate's
Facebook page the details of that. Yes, if you're wondering again,
Oh man, I didn't get that in Florida Talk real
Estate facebook page, you get all the details for that
event on Thursday.

Speaker 2 (01:15:49):
In Green Acres.

Speaker 4 (01:15:50):
So I know we only got like six minutes left
or so, but I wanted to talk about four four minutes. Okay,
So we're not going to get into the stuff you
spent all that time studying about that, okay, But I
do want to talk about this. Interest rates. They went
up for the first time in ten weeks. Think about

(01:16:12):
that for one fifth of the year. We've watched interest
rates go down for one fifth of the year.

Speaker 3 (01:16:16):
And as soon as rate go up, I guess the
you know, the bond market kind of indicated that though
it always that's it does.

Speaker 2 (01:16:25):
We'll tell you what it's going to do.

Speaker 4 (01:16:26):
No, it didn't go up much, guys, So it's still
almost flat. It's point zero four, so it probably cost
you thirty seven cents more on your mortgage.

Speaker 2 (01:16:34):
Goes down point zero four, we say it went down.

Speaker 4 (01:16:37):
Yeah, exactly. So we have to say, so this broke.
This broke our ten week of either flat or down.
This is the first time we actually went up. It
was very minor. We're still at the lowest interest rates.

Speaker 2 (01:16:49):
Of all year.

Speaker 4 (01:16:50):
So if you're a buyer, you're crazy not to get
involved in this. And once everybody starts waking up because
I hear Nashley, there's thirty five percent more applications for mortgages. Interesting,
but nobody's calling Florida talk real estate right now. So
give us a call. We want to help you buy home.
This is a great time to buy home. We worked

(01:17:11):
with all our buyers were done. We need new buyers,
so give us a call.

Speaker 3 (01:17:15):
We got a four bedroom like Southern and Haverhill and
Palme's County for under four.

Speaker 4 (01:17:20):
Under four hundred thousand. We got a town home that's
going to be roughly two fifty, two bedroom, two and
a half bath for two fifty and that's faha financing
because it's a town home, it's not a condo. Right,
So there's all these there's stuff out there. So anybody
beaten down saying, oh there's interest rates are two, everything's
too expensive, sellers won't work with me. None of that's

(01:17:42):
true right now, but it could be true coming up
in the future.

Speaker 2 (01:17:46):
Somebody who says this is what's going to happen next month,
don't trust them.

Speaker 6 (01:17:50):
Now.

Speaker 4 (01:17:50):
The other thing is AJ did do some statistics that
kind of reflect what I saw in the monthly statistics.
We'll talk about that next week. But AJ saw that
you analyze one neighborhood and you were saying that the
prices really haven't changed.

Speaker 2 (01:18:05):
Well, my favorite Sandalwood, you know, as an example, Yeah,
I ran that one there. You know, I looked at
what I ran for February when I was here, and
the range was like two forty to two eighty and
right now the range was two fifty to two seventy five,
So it's in. So it's you know, this is the
range of the medians, not the complete range of the

(01:18:25):
neighborhood right right, but the kind of the the most
baseline number that I could carry.

Speaker 4 (01:18:30):
So it's kind of funny. The top went down a
little bit, but the bottom went so it's about the same.

Speaker 2 (01:18:36):
But they're medians anyway, right, So it's.

Speaker 4 (01:18:38):
About saying, and that's the other thing. We have not
seen great price appreciation sellers, so if this is probably
going to be as good as it gets for a
little while. And the other thing is from the county stats.
I looked really carefully a broward palm in Saint Lucie County.

(01:19:00):
Saint Lucy County is the surprising one. It's the weakest
of the three markets. I never saw that ever, right,
And the whole time you've been on the show, this
has never happened.

Speaker 2 (01:19:08):
Yeah, a lot of inventory. Oh my god, probably what's doing.

Speaker 4 (01:19:11):
It's the inventory, and but the prices.

Speaker 3 (01:19:14):
Every I get so many properties from Port Saint Lucie
and when I see the price, I'm like, oh, it's
Pombage County, and then I down Port St. Lucy, I'm like, yeah,
they're just way overpriced for Saint Lucie County.

Speaker 4 (01:19:28):
And what I saw with the three counties, just to
leave off on this is the three counties. What I
saw is for our medium sales price right now, like
Palm Beach County, I haven't memorized it was six thirty.
Are high was last year at six fifty nine to nine, right,
but are low this year was like six fifteen and
our high was six forty something. So we're right in

(01:19:50):
the middle of like whatever happened over the last eight months.
We're right in the middle. We're not at the high,
we're not at the low. And almost every county I
always check six counties, they're all the same one. So
we're not seeing significant price Everything's.

Speaker 2 (01:20:02):
Been pretty stable. Not everything, but a lot of the
market has been very stable.

Speaker 3 (01:20:07):
Well, thank you guys, No, thank you very much, and
thanks for being with us on a Saturday. I really
want you to remember Florida talkreal Estate dot Com. If
you're on Facebook, share the page. You never know who
you're associated with on Facebook that needs a team of prospros. They're,
you know, maybe having some issues with their home or
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Speaker 2 (01:20:29):
Own with the prospros.

Speaker 3 (01:20:31):
The team of Florida talkreal Estate dot com, the one
stop real estate shop that is again know it, use it,
love it share. At Florida talkre Estate dot Com. You
get amazing people like aj Holman with Experience Appraisers dot Com.
I hope you have a great rest of your weekend.

Speaker 2 (01:20:43):
You gonna start a nice weekend right now.

Speaker 3 (01:20:45):
Yeah good, that sounds fantastic. Like Jimmy d over here
as well. I hope you have a fantastic weekend. The
Florida Home Pros team Kellilliams Innovations.

Speaker 4 (01:20:52):
I hope so too.

Speaker 2 (01:20:56):
Confident across.

Speaker 4 (01:21:00):
Johnny, thank you, Jimmy, Jay.

Speaker 3 (01:21:02):
Thanks here, appreciate you all very much. Thanks for being
with us every Saturday. Stake around the locker room. Will
take you from here. We'll be back next Saturday. Florida
Talk Real Estate right here on Real Radio.

Speaker 1 (01:21:27):
This is Florida Talk Real Estate with Jim Depola and
Johnny c. Got a question for the show. Call us
live at one eight seven seven nine two seven sixty
nine sixty nine.

Speaker 3 (01:21:37):
There it is eight seven seven nine two seven six
nine six nine. Plenty of time remaining on a Saturday
for you. We take you up until eleven. Pass up
a time in the locker room. If you've got a question, comment,
concern in the world of real estate. Would you like
to get involved with the conversation at hand if you
want to bring something up, it's not on the table yet.

Speaker 2 (01:21:54):
You're mother. Welcome dial in. Jimmithy our producer extraordinary, who'll
get you going on air? There? What's up my dude?
Hell yeah? And good morning, Johnny?

Speaker 4 (01:22:01):
How are you?

Speaker 2 (01:22:01):
I'm very well, Thank you very much for asking. Johnsy.

Speaker 3 (01:22:04):
That's me, your old buddy, your old pal of course.
AJ Holmes here as well. On a Saturday with Experience
Appraisers dot Com. Good to see is always AJA happy
to be here and thank you for your time, and
thanks to Jimmy D for always being here too, our
fearless leader thirteen plus years now. I've told you he
runs a top producing Callowiams team, the Florida Home Pros
team at Keller Williams Innovations.

Speaker 2 (01:22:23):
There's Jim Topoler, Jimmy B. How you be?

Speaker 4 (01:22:26):
Hey, Hey everybody, how are you doing? But we're going
to be going rolling right into continuing with the new
regulations for mortgage four bearance October. First, all the forbearances disappear.
There was a ruling that came out or our memo
that came out in January twenty twenty five that stated

(01:22:46):
very clearly they wanted to rescind all the COVID, all
the COVID and other forbearances that have been out there
and stop them and go back to regular foreclosure process.
The other thing they're doing is is they're telling all
the banks we are the federal government is not going
to assist you with what's called relocation assistance or people

(01:23:09):
that are in trouble with their homes. Is you know,
Johnny many many times. We were talking back in the
day where the banks were offering anywhere from three thousand
dollars up to thirty thousand dollars to help you relocate
after you move from the home. And the reason why
they did that was, yes, it was a benefit to
the to the owner that they had some money in

(01:23:31):
some incentive to leave the home and not trash the
place right, but also that it helped the bank have
the owners be more cooperative with the foreclosure process so
they can grab the property and resell it when they
need it. But now no relocation assistance. Also, if you're
doing what used to be called cash for keys, hey
I don't want to fight you for foreclosure. Just take

(01:23:54):
the keys to my house and let me walk away
scott free, and give me a little bit of move
the money while you're doing it. No more moving money.
If you want to do cash for keys, you can
do that, but you're not getting moving money. All of
these were outlined in a new Order Executive Order January
twenty fifth.

Speaker 3 (01:24:13):
I can kind of understand the difference because the market
is very different. Many of those people that you noted,
you know, got some relocation funds, etc. The bank was
the property was upside down, like it was. The bank
was in a very different position with that property. The
homeowner was in a very different position with that property
as far as equity positioning, right, So I can see

(01:24:36):
we're in a vastly different world. I can see a
little bit of change in how it's handled. That's pretty
dramatic to go from tens of thousands to zero.

Speaker 4 (01:24:44):
Hell, yeah it is. It's pretty crazy. And we already
saw that trend. I had a customer that we were
trying to see if we could do a relocation sistance,
relocation assistance deal with the bank because they were behind
on their payments.

Speaker 2 (01:24:57):
Those were short in the bank scenarios more times.

Speaker 4 (01:24:59):
Than more times than not. Yeah, and sometimes with uh
deed lou of foreclosure, like the cash for keys in
lieu of right, in lieu of right. So instead of
filing foreclosure against me, just give me the cat, give
me the keys, and I'll take care of this time.

Speaker 2 (01:25:13):
They're just like, we're not gonna play it again. I'm
having PTSD just remembering all this. It was horrible, horrible,
it was I was. I did so many appraisals for
Fannie May. I remember I did seven in one day.

Speaker 4 (01:25:26):
And then next day there were five percent lower. Problem
because everything was dropping.

Speaker 2 (01:25:32):
So fast they're catching a falling knife. Yeah exactly, but no,
but it was awful. You go, and you could just
tell when someone's been forced to move out versus wanted
to be oh yeah, and it was just heart ranching.
Yeah it is.

Speaker 4 (01:25:43):
It's it's really sad. Now I'm not trying to scare
of your body and say, you know, oh, that's what
we're happening right now. And you're gonna see the clipbait
headlines saying that, but I can't tell you that we're
there yet. But what I you know, and I've been saying,
how long have I been saying those clipbait stuff on
you to be tiktoki stuff about the economy is going
to crash, The economy is going to crash, Housing markets dead,

(01:26:05):
housing marketstead a lot of that. That was like four
years of predicting something that was going to happen. It
never came.

Speaker 2 (01:26:11):
You can you can find a clip to support when
you think that's happened.

Speaker 4 (01:26:15):
And I was always kind of here saying where is it.
We have half a percent of foreclosures right Like how
many times I said we got sixty thousand properties for
sale and thirty two foreclosures in short sales. Right, it's
like ridiculous half a percent.

Speaker 3 (01:26:30):
Well, let me ask, just because I don't know, I
don't know that my mind can wrap around the perspective appropriately.
What a million nationwide for kicking into kicking into where
they're going to lose their property? Right, so the shift happens,
is a million nationwide properties in that situation?

Speaker 2 (01:26:50):
Uh? Market significant impact? Yes?

Speaker 4 (01:26:54):
Well, I don't, I don't know. I don't I think that.
I think it's going to be a jolt. Certain the
people that are experiencing this problem are going to have
real problems.

Speaker 2 (01:27:04):
I'm not sure it is.

Speaker 4 (01:27:07):
Effect nation like nationwide or economics of real estate even regionally.
It shouldn't be that bad. Now, I'm keeping a little
I'm equivocating here a little bit because like Tampa we
saw over on the West coast with all those hurricanes,
that economy is collapsed already. The economy out there has

(01:27:28):
collapsed as far as real estate. So it could happen,
but overall, it isn't. It isn't going to be. It's
kind of be like the junk bonds. The junk bonds
affected a lot of people that invested in junk bonds
and then the whole thing collapsed. But everybody that wasn't
evolved junk bonds. It just went on their day and
it didn't affect them at all. That's how I feel
like this is going to be. If you're if you're

(01:27:49):
sucked into this problem, it's bad. But a lot of
people aren't going to be sucked into it. And to
put another perspective, one million homes. We're gonna sell a
little over four million homes this year, right, so that's
twenty five percent of the homes that were sold in
one years.

Speaker 2 (01:28:05):
It's it's a that's a that's a weirder way to
frame it. In my head.

Speaker 3 (01:28:09):
That feels much more impactful when you're doing twenty five
percent of the actual transactions of the property.

Speaker 2 (01:28:14):
In the nation.

Speaker 4 (01:28:15):
But there's something like one hundred million homes or something,
so one million is only like one percent.

Speaker 2 (01:28:22):
We're in a general housing shortage from what I see,
like not necessarily our particular markets, but as a country.
They say that we're low on ound. The number is
like four million short, is.

Speaker 4 (01:28:33):
What I always Yeah, that's what they're saying. I don't
agree with that I don't know. I do agree that
we're short.

Speaker 2 (01:28:38):
That's what the number they always put out, four million
homes short. I think. I think another way to look
at this, though, is let's go back to the Christmas
tree burning, right, you throw one tree at a time
on there, and it's not so bad. This is going
to be another log on the fire. It depends on
what else is happening, because you put three Christmas trees
on there.

Speaker 4 (01:28:59):
You know, sertually go, let's let's talk a little bit
about the actual stats of foreclosure and dates and wide.
And this is coming from this adam to analytics analytics,
and it is a very reputable group I've been following. Yeah,
they're they're very legit. So this isn't like some crazy
I don't want to say the names of some companies that.

Speaker 2 (01:29:21):
Problem.

Speaker 3 (01:29:22):
I don't like associating with the people that have been
in forbearance, especially for five years now, because their economic
situation is probably majority very different than it was in
the COVID time, right, probably, I like to think, just
because of the where unemployment sits right now, right, So
a man to associate these forbearances with traditional foreclosure, I don't,

(01:29:46):
I just it almost let like throwaways in a way.

Speaker 2 (01:29:48):
Because these are these are self made.

Speaker 4 (01:29:53):
Situations, so you say self created, they are.

Speaker 3 (01:29:55):
This isn't like I lost a job now you did
in COVID got in the forebearance, but you're finding aancial
footing is probably very different, and yet you've continued to
allow because of finances.

Speaker 2 (01:30:06):
I understand.

Speaker 3 (01:30:06):
I get like, I get it that huge nut payment
is impossible to step into and be like I'm ready
for it now, because who's able to save that kind
of money in twenty twenty five.

Speaker 2 (01:30:16):
It's just not reality.

Speaker 5 (01:30:17):
And if you could have saved that your mortgage anyway,
So I get the whole thing, but it's not like
to me.

Speaker 3 (01:30:24):
The those foreclosures are almost they're not They're not real
for closures in a way.

Speaker 2 (01:30:33):
You know, they're not traditional. Yeah, I went created, And
you're gonna have extremes at both ends of those million.
You're gonna have fifty thousand people that are fully just
taking advantage of the system, and you're gonna have fifty
thousand people that are were able to completely get out
of their problem and just haven't done it yet. Right,
it's percentages, you know. You What I hate is when

(01:30:53):
on the news, I go like, last time, well, all
these irresponsible people are all these people that are you know,
they throw people into this huge but it and it's like, wait,
I'm one of a million my situation. Isn't that a
genuine problem?

Speaker 4 (01:31:05):
How many times when we started the show, right, it
was very controversial. First year, year and a half, two
years on the show, we were talking about use the
government programs to save you. Don't don't go into economic
failure because of all the problems are here. Use the
programs that were credit right there. Use them. We're experts
in them. We're going to walk you through the whole thing.

(01:31:27):
And the other thing that we created was not what
we wanted to do for you. But the first question
we would ask you is, aj we know you're twelve
months laid on your payment on your house. Do you
want to save the house or do you want to
sell the house? That was always our first question, letting
your decide, you decide. I'm not swaying you either way, right,
and then you would figure it out. And then based

(01:31:47):
on that we would go down the paths and figure
out the plans. And we always had what's called a waterfall.
We had Plan A, which is if you wanted to
save the house, we're going to get you over to
the Paul Krasker and do the loan mod and to
get you in a payment that you can afford and
work out all the new terms of your loan. Now,
if you got rejected on that, then you had what
was called the short sale process. If you were upside down,

(01:32:10):
if you couldn't afford to sell the house and pay
back the bank in full, we would step in and
negotiate for the bank for you and say, hey, mister banker,
I know we owe four hundred, but I only can
get three twenty for the house. Will you take three
twenty is payment in full. That's called a short sale.
When you're selling the house, you walk away debt free.
And if that didn't work, if you got rejected for

(01:32:30):
that for some reason.

Speaker 2 (01:32:32):
With fun, sometimes relocation, and sometimes.

Speaker 4 (01:32:35):
You got money right now, the third layer of that
waterfall would be the deed and lure foreclosure. If you
can't get anything else done, you finally turn to the
bank and go, hey, mister bank I've tried everything else.
It won't work. I really don't want to go through
this whole foreclosure process with you. It's all going to
screw up my life for all this time money. Yeah,
so I just want to give you the keys to

(01:32:56):
the house and you give me a document that says
I don't owe you anything anymore, and let's just call
it a day.

Speaker 2 (01:33:03):
Right.

Speaker 4 (01:33:03):
So that's kind of the waterfalls you have. And there
are other things that are involved that a little more complicated.
Sometimes foreclosure defense comes in. Sometimes bankruptcy is a tool
that could be used depending on what you need to do.
We're all experts on that we've been doing it for
a long long time and where we haven't pulled out
those tools in our toolbox yet, but they're all there,

(01:33:25):
shiny and ready to go and sharpened when we need
to use them. So let's get into some stats right now,
because I know that there are people out here listening
right now that have done the forbearance and are thinking,
oh my god, what is going to happen to me now?
Because the let me tell you, the banks are coming,
The banks are going to start filence. So let's look
at National So according to Adam, for the last six months,

(01:33:47):
we've had year over year increases of foreclosures for the
last six months in the row now right now, in
August of twenty twenty five, there were a total of
thirty five thousand US properties with foreclosure filings. What does
that mean? That means you got to note that they
want to sue you for foreclosure, they scheduled an auction

(01:34:08):
to sell the house, or the bank repossess repossessed it already. Okay,
so it's either being noticed for it having the house
taken away, or the house is already sold out from
under you. And that's thirty five thousand. Now, that was
down one percent from the month before, but up eighteen
percent compared to twenty twenty four. Okay, Now it says

(01:34:32):
August marked the sixth consecutive month of year over year
increases in foreclosure activity and the third straight month with
double digit annual growth.

Speaker 3 (01:34:42):
Six straight month of year over year even though one
month that we actually went down, So month to month
it's not necessarily going up, but year to year, six
straight months that were higher.

Speaker 2 (01:34:51):
Than they were.

Speaker 4 (01:34:52):
You, So when this month August was down one percent
compared to the month before, which was July, but it
was still higher August than August the exactly. Thank you,
because it does get a little confusing. Thank you, Johnny. Now,
here's a couple other things. Nationwide, one out of one
out of every four thousand housing units had a foreclosure
filing in August of twenty twenty four, twenty twenty five thousand,

(01:35:16):
four thousand four. To me, that sounds really high. States
with the worst foreclosure rates were Nevada. One out of
every two thousand homes are in have a foreclosure filing.
South Carolina, very surprising to me. South Carolina one at
very thirteen hundred housing units. I've had a foreclosure filing
against them. Chico, California, one out of every fifteen hundred units.

Speaker 3 (01:35:41):
They went whole states and then just took a little
county in California.

Speaker 4 (01:35:46):
Cleveland, Ohio, one out of every seventeen hundred units or
in had a foreclosure filing. And Okalla one out of
every eighteen hundred units. Okalla, I'm really surprised. I just
went up there in sold the house for help. Somebody
buy up there for time.

Speaker 2 (01:36:01):
The boom.

Speaker 4 (01:36:03):
There's a lot of properties booming, and there's a lot
of slow stuff over there. What I found out when
I went up there, a lot of the new construction
hot hot, hot, hot hot. All the resales dead dead
dead dead dead right, even older, even newer resales like
a twenty twenty house or twenty twenty one.

Speaker 2 (01:36:20):
Must be the difference in insurance.

Speaker 4 (01:36:23):
I think, I bet you anymil now. So that's like
local areas. But the three states Texas, Florida, and California
lead the nation and foreclosure starts. So this is filings.
Lenders started foreclosure properties on twenty four thousand homes in
the US and August, down slightly zero point two percent

(01:36:43):
from last month, but up seventeen percent from the year before.
States that had the greatest number of foreclosure filings in
August Texas with twenty nine hundred, Florida with twenty eight hundred,
California twenty five hundred, New York twelve hundred, and Illinois
eleven hundred. So if those are the top five, new

(01:37:03):
York is only twelve hundred and California is twenty five hundred.
So there's a big gap between the.

Speaker 2 (01:37:09):
Two lations of those states, like they're living totals.

Speaker 4 (01:37:12):
But that's not like, well, it's still the number of
people that are in foreclosure, and that's what they're trying
to focus on.

Speaker 2 (01:37:17):
Oh, I know what I'm saying. If California has twice
as many as Texas. Like, I don't know what's the
population of California compared to the population of Texas or
Florida or.

Speaker 4 (01:37:26):
Well, Florida Texas. Obviously Florida Texas and Florida Texas and
California and New York are the four top four populated site. Yeah,
so it makes sense that we would have most it's true.
And but the other thing I want to bring up,
only twenty eight hundred foreclosure of fallings in the whole
state of Florida. Palm Beach County sells eleven hundred homes

(01:37:47):
every month, right, single family homes, not even condos and
town homes. Right, So these are still what AJ's trying
to bring out. We're not a an avalanche or anything,
but they but they are seeing leaps and bounds, double
digit increases, even though that we're starting out very minutes.

Speaker 2 (01:38:06):
So it's a big jump. But that's not in the statistic.

Speaker 4 (01:38:09):
But now, and this is without this report, this real quick,
real quick though.

Speaker 3 (01:38:14):
So we started this conversation talking about there's a million
people in the forebearance, right, are these foreclosures.

Speaker 2 (01:38:21):
Part of No?

Speaker 4 (01:38:22):
No, that's that's why I was just going to say,
this article has nothing to do with the October first.
I'm combining them together to show you what's happening.

Speaker 3 (01:38:29):
And another Christmas tree gets so what they have they
have ripped these out of that. This is a totally
different equation. These are more traditional foreclosing.

Speaker 4 (01:38:37):
These are just regular foreclosures happening right right, the.

Speaker 2 (01:38:41):
Four bearans are still in four bearans. These are foreclosures
that have happened, right.

Speaker 4 (01:38:46):
They're not protected by any four barance laws because that
ends in October first. So what I'm expecting is is
that these numbers I'm expecting to jump significantly. Now is
it going to be like the tsunami that we had
in five six? No way not right now. We have
to keep an eye on unemployment. That's gonna be the
next big thing. So this is the first few to drop.

(01:39:08):
Is gripping off the band aid and fixing all the furbearances, right,
that's what would happen right now, you.

Speaker 3 (01:39:14):
Would think, just it's statistically easy for me to say, again, Florida, California, Texas,
New York, we're gonna have probably the most of the
people in the four barans, so we'll see our numbers
probably increase the most just you know, based off.

Speaker 2 (01:39:33):
Volume folks and home ownership. But statistically, if let's say
it's one in one hundred homes that are for sale
right just as a random number number. And if you're
in pigs Knuckle, Iowa, and there's only you know, fifty
homes at SEL a year anyway, you know what I mean.

(01:39:53):
So it's it's going to disappear into the rest of
our stats until it hits a certain level of pace.

Speaker 4 (01:40:00):
And and here's another goose I have.

Speaker 2 (01:40:06):
Here's a plus.

Speaker 4 (01:40:09):
One last stat I want to bring up. This is
the actual properties that actually were foreclosed onto the bank
took back the house. Uh. Last month, there were four
thousand total throughout the whole United States, there were only
four thousand homes that were taken over by banks. That's
a very low number compared to what we're dealing with

(01:40:29):
the United States, So it's still small. I'm not trying
to scare anybody, but this stuff is real, and anybody
in forbearans you've got to understand what's going on right
now because you can't put your head in the hole anymore,
and you can't think that the government's got your back anymore.
For that it's time where they say it's been long
enough from COVID, where four years out from like the

(01:40:50):
worst or the worst of it, and it's time to
rip the band aid off and you got to start
getting back with your mortgage payment. So that you know,
that's what's happening right now. Whether you agree with that
or not doesn't matter. That's what's happening right So there's
only four thousand in the whole country that were foreclosed on,
but the ones that had the biggest Texas four hundred

(01:41:11):
and seventy five of those four thousand, so ten percent,
California three hundred and forty three, New York three hundred
and nineteen, and Florida two hundred and seventy six. So
there were only two hundred and seventy six homes in
all the state of Florida that we're taken back by
the banks in August. So we're not talking about like
that tsunami. Okay. What we are talking about, though, is

(01:41:34):
if you're in trouble with your house, you need help.
You need professional help, because going up against the bank
when you're in trouble with your mortgage is like going
to a gun fight with a knife and you're not
gonna win or get the best results.

Speaker 2 (01:41:49):
You need expert than they are.

Speaker 4 (01:41:51):
Oh yeah, that works out all the time. Right, that
works out all the time. Right, they can't foreclose on me.
They can't find the note. That's the smarter people back then,
those are the smarter. They can't find the note. I
get the host for free. Yeah, have fun with that.
How many houses did that happen?

Speaker 2 (01:42:10):
Like five? Actually, nobody loves to procrastinate more than me.
It's like a sport for me. But you really can't.
You know, there's just some things you just can't do it.

Speaker 4 (01:42:20):
And let me tell you.

Speaker 2 (01:42:21):
We know this.

Speaker 4 (01:42:22):
We've talked about so much. We've heard people crying on
our show during the bad, bad times. Right, you can't sleep,
you get no rest. You keep thinking, am I going
to lose my house? Am I going to lose my house?
How am I going to pay this bill? I don't
know what to do? Who can I turn you to? Trust?
I need help and all that we'll give you. We'll
give you all the free advice that you need, get

(01:42:43):
you to all the right professionals. Maybe you've got a
very complicated situation, and let's just say that law off
I doubt it, But the Office of poly Crasker isn't
the right type of lawyer that you need. Will go
help you find that. We don't charge you anything, right,
We're just here is a resource to help you with
the one stop shop.

Speaker 2 (01:43:02):
That's true.

Speaker 4 (01:43:03):
So just be real careful about this. So if you
know anybody, or if you're in trouble like this, I'm
telling you people when they call us they feel Usually
they feel and I don't ask them. They say, oh,
I feel like a whole lift of weight is off
my shoulders.

Speaker 3 (01:43:18):
Right, absolutely, there's no denying that.

Speaker 2 (01:43:21):
That is going to be like instant relief.

Speaker 3 (01:43:22):
Even if you don't get the best news, just knowing
where you stand is going to be a totally different
place in your head. But man, we learned day after day,
show after show, burying your head in the sand is
not an option.

Speaker 2 (01:43:39):
It's not.

Speaker 3 (01:43:40):
It is the worst thing you can do. And man,
running away from this is gosh. Do yourself a favor.
Go to Florida talkreal estate dot com. Just get an
understanding of what can be done. Maybe sadly in your
scenario there's not a lot for you, but don't make
that scenario up. The reality is is there are safety

(01:44:02):
nets out there for you, and you don't know what
you don't know. Find out what you don't know for free,
and then let all look, you are already a debt.

Speaker 2 (01:44:10):
Stack it.

Speaker 3 (01:44:10):
It's the American way. Who cares you know what I'm saying.

Speaker 2 (01:44:14):
Stack it, baby, that's the facts. Don't bury your head
this hand.

Speaker 3 (01:44:19):
Please please, please, please please don't do that. We we
saw so many years of people just being like, well,
this keeps showing up in the mail. I'm just gonna
ignore it. It'll go away eventually. It doesn't work out
well for you, but at Florida talkreal estate dot com
you'll understand what your options are.

Speaker 4 (01:44:34):
Find out please, thank you, Johnny. And the difference now
compared to the last time we did this is you
have to protect your equity. Most of these people have
equity in their house and to watch it be siphoned
away from the bank on late fees and a crude
interest every month you do nothing uh escro payments because
you're paying two and a half time percent your your

(01:44:57):
insurance right and you have to go through all that.
Don't you that you're sucking away all that money you
paid the payment on that house for so long, watched
it increase and now you're watching it all go away
against so be proactive and the proactive and the lenders.

Speaker 2 (01:45:11):
Aren't doing this stuff directly, right, they're hiring a company services.
Entire job is to make money off of all of
those fees.

Speaker 4 (01:45:20):
Thank you, I forgot about that.

Speaker 3 (01:45:21):
The servicers, Yeah, they're highly motivated.

Speaker 2 (01:45:24):
Oh yeah, yeah, and they're they're motivated to bleed you
out because that's how they're really going to make their money.

Speaker 3 (01:45:28):
Well, they really they appreciate you doing nothing.

Speaker 2 (01:45:31):
Yeah, it really really works out. Really, they will send
you a Christmas card and.

Speaker 3 (01:45:34):
A fruitcake at the end of the year because they
appreciate you doing nothing because it's just more money they're making.

Speaker 4 (01:45:40):
Well when we first, don't continue to do nothing when
we first, I'll just I'll just wrap up on this.
To talk about those services. There was one servicer that
was based in Texas and West Palm Beach, right. They
were the biggest servicer for all the foreclosures and low
mods in the country. And one time I had access
through a security guard to go over there and check

(01:46:01):
it out. The security guard this is our shell, and
he kind of got me in there and he wanted
me to show the facts. They had fax machines back then,
right to file all the paperwork for your low modor
short sell faxes, right single page sheets that you would
send over by facts. And I went to the bank
of Facts, I went to the banks of fax machines right,

(01:46:21):
and those they were like little glass boosts with a
fax machine, and they had a bunch of them. Those
you couldn't open the door to get into the fax
machine because the paper was falling on the floor for
so long. It was so many inches high. You couldn't
open the door to get into the fax machine. So
nobody was looking at that paperwork. And you were sending

(01:46:42):
away from hoping you were getting a law mode or
a short sale months sometimes and then they wouldn't respond
to you for months and then finally say I'm sorry,
we can't find your paperwork. You have to send it
back again.

Speaker 6 (01:46:52):
Right.

Speaker 4 (01:46:53):
It was just crazy. So anyway, hope we don't go
through that period again. I'm already getting PTSD about it.
But if you need help, we're here for you.

Speaker 3 (01:47:02):
And that's the point where we're in a very different
environment market wise, no doubt about it. But we are
talking specifically about people that are really really finding themselves
in a hardship. As soon as October first rolls over,
things are going to go from bad to worse for
you really quickly.

Speaker 2 (01:47:16):
And don't let that happen.

Speaker 3 (01:47:17):
Go to Florida Talk real Estate dot com once stop
real estate shop.

Speaker 2 (01:47:21):
Get the help you need, the advice you need.

Speaker 3 (01:47:22):
Understand what can be done to possibly save your home
or to get you out of there with as little
pain as possible. Florida Talkrealestate dot Com. Of course, if
you're looking to buy a home or sell a home,
anything else touching the world of real estate, we got
a professional for you one click away at Florida Talkrealestate
dot com.

Speaker 2 (01:47:38):
You want to do it a little break? Are we
gonna push it? Uh?

Speaker 4 (01:47:40):
Let's go ahead and do the break. And on the
flip side, we're gonna ask a Jake because you know
we had in two weeks in the row, so I'm
picking his brain about appraiser as much as I can
and everything appraisers. What are the three main situations when
you show hire an appraiser. We're gonna talk about that next,
because you'd be surprised that's the answer to that.

Speaker 2 (01:47:57):
Oh, well, you find.

Speaker 3 (01:47:59):
Out how I'm surprised. We'll do it together four minutes
from now. Thanks for being with us every Saturday floor
to talk real estate right here on Real Radio.