Shout outs. Home owners insurance. Interest rates. Flood insurance. New York exodus

Episode Transcript

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

(00:36):
one two.

Speaker 2 (00:38):
Welcome to another edition of Florida Talk Real Estate. Shell mell,
She'll masel Saturday morning. It's gonna get really interesting every Saturday.
This is gonna be a reason you want to join
us right out the gates, by the way, because you
get to have a little clap along, a little fun time.
You're welcome bonus time on a Saturday, in addition to

(00:58):
two hours of infotainment in the world real estate. How
about that. I see you out there in ninety two
one one on one seven. Thanks for being with us.
Of course, if you're using your free download your iHeartRadio app,
thank you very much. We're worldwide, by the way. That's
pretty big time. And we live stream, yes professionally, live
stream on a Saturday as well. Florida Talk Real Estate
on Facebook. You can find us on YouTube that's Florida

(01:19):
Talk real Estate ll S, home of a ton of
informational chunk videos and our live stream on a Saturday.
You can always join in whenever you'd like. Of course,
if you're there at the gates, thank you very much
for being with us, and of course you're welcome to
be a part of the program. Toll free eight seven
seven nine two seven six' nine six.' nine if you
have a question of comment and concerned in the world of,
real estate don't. Be shy dial. On in our producer Shorten.

(01:41):
Their jimothy he's dying to get you on. The air
now are you?

Speaker 3 (01:44):
By sure am?

Speaker 2 (01:45):
Doing well how?

Speaker 4 (01:45):
Are?

Speaker 2 (01:45):
You johnny i'm. Good man always gat to. See. YOU
brothers i see you got to. Clap again yes you,
GET dude i said the, Last time i'm like this
is the.

Speaker 3 (01:52):
LAST time i guess that cream.

Speaker 2 (01:54):
Didn't, work yep synked it. Up perfectly it, never works by,
the way it's all in. Your head, you know, Good ENOUGH.
Johnny c, that's me your, old buddy your. Old pal
also clapping, along Today There's, mike row the mortgage guy
from the, mortgage firm one of the very important people On.
A saturday nice to, SEE, it vip and thanks for clapping,
with us.

Speaker 3 (02:13):
Of Course now i'm just curious if the claps weren't.
Perfectly synchronized what? What happened that's? Gonna, happen yeah so
hopefully it was.

Speaker 2 (02:20):
Close, enough yeah just so you get it's a little inside, Uh,
biz yeah this is like tightening up the video in. The.
Know yeah things are getting so advanced in the technological
world that now, we're like, you know when you this
is The way jim described it. To us, you know
when you're watching, professional, filming right they have the. Little clapper.

Speaker 3 (02:44):
Now you're messing.

Speaker 2 (02:44):
It, up now.

Speaker 3 (02:47):
Have we got to start? It?

Speaker 2 (02:48):
Over yeah. WE had i don't know. WHAT clapper i
think you could, say IT and i don't know if i'd.

Speaker 3 (02:58):
Know, It, okay well speaking, of that you, also, said
like how how sure is that? These days do you
know what?

Speaker 2 (03:07):
That? Is?

Speaker 3 (03:08):
Rong okay, all right, that's good you?

Speaker 2 (03:10):
Got? It, COOL yeah, I, know jimmothy did? You place?

Speaker 1 (03:13):
Of?

Speaker 2 (03:13):
Course yes do you know the brand name that comes?
Round half the name sam?

Speaker 3 (03:18):
Something incorporated, It's right it starts WITH an.

Speaker 5 (03:21):
H LAMAS has. Fos corporated it's really professor or, something,
like well what do you think the thing that you
make the clapper?

Speaker 2 (03:32):
Sound Movies because jimothy.

Speaker 5 (03:35):
Got it they are, Movie people they're not, That smart
so what do you think it's? Called? Clapper clapperboard?

Speaker 3 (03:45):
Clapper board get paid on that?

Speaker 2 (03:47):
You, do yeah part of the education. Process today and
thank you for being, with us, of course.

Speaker 3 (03:52):
Thank you.

Speaker 2 (03:52):
Hello Everyone rosky martinets is here clapped on time, as
well with the clapperboard in. His hand He's With Bright
winser's Juno. Beach row so ARE you i am, doing, Well.
Thanks russ like me before, We started, i'm, like well nervous.

Speaker 3 (04:04):
ABOUT this i Feel like ross was. Slightly off actually
was he a?

Speaker 2 (04:08):
Little heady but we were a. Little.

Speaker 6 (04:09):
Bit no BUT but i did accidentally clap, my microphone
so we're GONNA have i. Make contact it, was close,
oh man to MAKE sure i was on camera and
GOT the.

Speaker 2 (04:20):
I thought it looked peripherally it looked awesome. To me
thank you for your. Average today appreciate you. Very much,
and uh the one that does know that happens is
something or. Another Incorporated THAT'S jimmy d thirteen plus years
now running a Top producing, kellowaynas Team The Florida Home
Pro Steam, Callowaynim's innovations jimmy d how you doing? Over
there did we?

Speaker 5 (04:40):
CLAP okay i think we did okay this time. Most,
Time yes i'm really excited. ABOUT. This u if this clap,
THING works i know it sounds, really silly but this clap,
things works it's gonna totally transform our. YouTube Channels so i'm.
Really excited just the stupid. Little, clap well here's the
clap might make. The difference here's.

Speaker 2 (04:57):
The thing sometimes when you're, the, innovator right you get
mocked a little bit. Of, course right watch all these shows, start, One,
two hello, and welcome like it's it's gonna.

Speaker 5 (05:08):
CATCH up i think it's gonna be. Our thing one,
To boom we're gonna.

Speaker 3 (05:12):
It seems like such a low tech solution to a
very high. Tech problem i'm not sure if it's going to.
CATCH on.

Speaker 2 (05:21):
I feel very good to that.

Speaker 5 (05:23):
We got we got a lot to talk. About today
there's a million shout outs with, teachable moments so we're
going to go into some of those for buyers and
sellers and student loan people and all kinds of things
we're gonna be talking about some. Good News florida insurance
is actually making good, news.

Speaker 3 (05:42):
Nationally nationally nationally.

Speaker 5 (05:44):
Making good news. Right Now, so ross you can crawl
out of, the hole be very proud of what you
do for a living out because you're doing good things.

Speaker 3 (05:56):
For people and so if he gets to he starts feeling.
Too good you can always get into selling health insurance
at the health, insurance marketplace like, you know talking to
those people about their increases that are coming up.

Speaker 5 (06:09):
This year don't even don't even get. INTO that i
met with my. Health, provider, Yeah yesterday, oh boy twenty five.
Percent increase i'm going to be paying close to thirty
thousand dollars a year just for. Health insurance thousand a
year just for. Health insurance stop, one person not. Family
coverage how do you how do you opted to?

Speaker 2 (06:30):
Do that i'd, BE.

Speaker 5 (06:31):
Like i, Don't know i'm actually for the, First year
i'm actually thinking just.

Speaker 3 (06:36):
Self insurance i'll JUST come i actually.

Speaker 5 (06:38):
Use WONDERING am i better off just doing like a
health savings plan thing and just throwing the money, in
there which is tax deductible one hundred percent tax deductible
which your health insurance is, Not, right well it's.

Speaker 2 (06:51):
Not deductible it's just not.

Speaker 5 (06:52):
Tax right it's not, tax right it's.

Speaker 3 (06:55):
Tax goesax but. It doesn't it doesn't have anything to
dootiations on what. You, pay, no right that's. Just money that's.

Speaker 5 (07:03):
But my friend who's, an attorney is very. He learned
he taught me a lot about if you don't have
an assurance and you go and you meet with the
bill collectors for, the hospital the amount of discounts you
can get if you just. Pay cash it's, like crazy
what you can get.

Speaker 2 (07:19):
Walking clinic if you got something. Fairly minor but.

Speaker 5 (07:24):
The government so mine is going twenty five. Percent Up
and i'm not part Of the. Obamacare stuff SO if
i were relying on, that too.

Speaker 2 (07:35):
It's going more.

Speaker 5 (07:36):
Than THAT my i would have went up forty. Five
percent why aren't you part OF the?

Speaker 3 (07:42):
Aca, income oh there's income limits to whether you're can
get from. The, marketplace yes.

Speaker 5 (07:48):
Because they don't want super Not that i'm, super wealthy
but they don't want wealthier people People.

Speaker 3 (07:53):
Like.

Speaker 5 (07:53):
Johnny Yeah the obamacare thing was to try to get
people who who didn't have health insurance to. Get it
the plan so everybody else wasn't paying for the emergency medical.
Room visits it.

Speaker 2 (08:05):
Supplements you it. Supplements you and then at the end
of the year when you file, your taxes if you
made too, much money you actually pay. For, it yeah
it's you don't just get away with it if you made.
Too much, they're, like okay well we gave you too
much actually for, your healthcare.

Speaker 7 (08:18):
All right so it provides insurance for both whether you
get a supplement. OR not, i mean you can STILL just,
i mean you could make however much money, you want.

Speaker 2 (08:29):
You'd Still buy you're just not.

Speaker 5 (08:31):
Getting supplemented and the thing that's so frustrating is That
when obamacare, was created we were seeing these kind of
increases all the time. For insurance, oh yeah twenty five percent,
of year, you know twenty percent, of year twenty five percent,
of year thirty percent, of, Year right we kept, seeing
that sometimes even higher, than that And then obamacare was

(08:51):
supposed to, reduce that and we're still seeing these. Huge
increases not that the old plan, was better it just
didn't fix the problem them uh to.

Speaker 2 (09:01):
The.

Speaker 5 (09:01):
Level now it did get more people insurey and that's
a really. IMPORTANT thing i THINK if i didn't have my,
Health insurance i'd be dead, right now right. For, sure
well we say at least the THINGS that i had
happened in.

Speaker 2 (09:12):
My life we say it's it's it's good that people,
are insured but we just like kind of started the
conversation with it might be cheaper to just go out.
Of pocket so it's.

Speaker 7 (09:20):
A weird it's, pretty anyway CONDITION part i, think, it's
yeah probably the best part about.

Speaker 2 (09:26):
That law well that's where you definitely hang.

Speaker 5 (09:28):
Your hat and that's my big problem is is if
they if they, if yeah if they take out pre
existing conditions not COVERED and, i Don't and I'm sure
i'm Not just i'm sure there's way more people more
like me than not.

Speaker 2 (09:45):
Like me oh. FOR sure.

Speaker 3 (09:48):
I think, in generally like the older, you get the
more you're going to have pre.

Speaker 2 (09:51):
Existent, history, yeah yeah it's.

Speaker 5 (09:53):
Pretty crazy, but anyway enough enough of this soapar about.
THAT anyway i was just. Stunned yesterday i'm going to
pay THIRTY thous i got a budget thirty thousand a
year just to pay my. Health plan that doesn't. Include
deductibles that's, your pay that's just my. Monthly theme my
monthly fee is going to be twenty two hundred twenty
two hundred and change, the month and. That's, enough no that's, just,

(10:16):
me right sixty something year. Old. Guy RIGHT so i
don't know How this this is not going to be
sustainable for a lot. Of PEOPLE so i don't, it does.
Doesn't matter something's got to. Be fixed this whole government
is so broken on. BOTH sides, I mean i'm not. Picking,
here well you said.

Speaker 2 (10:33):
Whole government so if you if you sected a certain
part out of, that statement that's. On you, we, said.

Speaker 5 (10:39):
Yeah government my thing, is now my thing is about this,
whole thing especially with, the shutdown is we pay those
people to talk to each other and hammer out a deal, both,
Sides right and if they're not, doing that they're not
doing their job because that's what we pay them. To
do and they're sitting there and they're both sitting in,
their corners, you know. Not MOVING and i understand, the rationale,

(11:04):
you know for both sides why they say they're, doing
it but doesn't make it right just because they're saying
they're doing it and why they're. Doing it the irrational
rationalization does not prove an. Effective government we need to
have government work. For us they're supposed to work. For us,
So anyway i'm done. With that it's. So sick it's
just making me sick watching all. That stuff enough. About,

(11:26):
THAT besides I know, mike's, like. Whoa wow mike's, like,
wow anyway Don't there that insurance got me. SO upset i.
COULDN'T believe i, was like are you? Kidding me RIGHT
when i was talking to my health, INSURANCE age i,
was like are you? Kidding me you.

Speaker 3 (11:40):
Couldn't you might be able to go Either to Canada
or mexico for. YOUR procedures i just do cash pack and, they're,
like listen WHAT do? I need, I mean i'm. Going
up i'm Going.

Speaker 2 (11:50):
TO mexico i THINK the ahsa is a.

Speaker 5 (11:52):
WONDERFUL option i.

Speaker 1 (11:54):
That.

Speaker 5 (11:54):
UTE yeah i have A, Friend, Mike, mike mike guess
you know who used to be on. Our Team h
he replaced all, his teeth all thirty two, of them
and he went down there and he did the. Full
THING and i think he went down there three times
and got a whole new set of choppers implants down
south somewhere Down, in Mexico, in, mexico Yea. In mexico
and he went Down. To mexico he said it was

(12:15):
the best medical carr he.

Speaker 6 (12:16):
Ever got monkey, Monkey Teeth and, i'm sorry he's Monkey,
te yeah.

Speaker 3 (12:22):
He's.

Speaker 5 (12:23):
Yeah yeah so besides besides talking to we got some
other things to. Talk about, Besides shoutouts we're going to
talk a little about who's leaving and who's Coming. To
florida now that we had that election Up In, new
york there's so much NEWS and i heard so much
scuttle but that. IF that i don't even know what

(12:44):
the guy's NAME because i didn't keep up too much.
On it what Is? A, madamie Yeah when madammie won,
the thing, they said what? Is It? MON dommy I
don't i didn't mean to make fun of the. Guy's
name so when that guy, won mayor they were predicting
that all these people are gonna have like a mass
Exodus From new york and that most of them are Coming.
To FLORIDA so i thought that was kind. Of INTERESTING

(13:06):
so i did a little research, on that and some
people are saying that there's another Headline Of New.

Speaker 2 (13:12):
York city.

Speaker 3 (13:15):
Some people. COMING down I guess i've got one.

Speaker 2 (13:18):
Already, preapproved well because of the, mayor Change In New.

Speaker 3 (13:23):
YORK city, i MEAN it's i guess easy. To say,
you know she's a. Flight attendant she can kind of we're.

Speaker 5 (13:29):
Going to get into. All that we'll get into all
that in a. Little, bit also let Me see. I'm,
SORRY also i thought it was kind. OF interesting i
have this little conspiracy thing going on with me. Right
now has anybody seen? THAT show i think IT'S on
hbo or Something Called. The chair it's a really ridiculous.
Comedy show but it's about a guy who works in

(13:52):
a you, know drone, you know like an office drone kind,
of guy and he's doing, this big big announcement in
front of a group of people and his chair collapses
and it's a very big embarrassment to him because everybody's
laughing at him everything because the chair collapses while he
was doing. This thing and he becomes obsessed and he

(14:13):
starts Investigating the. Chair company and it's only on episode,
four now but he's finding out all this weird conspiracy
stuff About the chair company and that there might be
this huge conspiracy and you're not sure if it's in
the guy's head or if it's a real, conspiracy, Yet
right and it's, a, Comedy right, So anyway i'm starting
to look at this iguana THING and I think i'm

(14:34):
becoming the chair guy BECAUSE what i found out was
is now they have a. New Rule The Florida wildlife
commission came out with a new rule for the green
iguanas on how you have to. Transport them remember you're
now you're allowed to sell them out. Of, state now
well now there's transport rules. About It and i'm going

(14:55):
to get into that a little Later because i'm wondering
where all these iguanas. Are going THAT'S what i wanted to,
find out like who's buying all? These IGUANAS and I
think i got a little oh, Thing GOING so i
think that would be kind.

Speaker 3 (15:07):
Of fun you a little.

Speaker 2 (15:08):
INVESTIGATIVE reporter i got MY little.

Speaker 5 (15:09):
I do, it's, like oh this is kind.

Speaker 2 (15:11):
Of fun do you want to you want to take
a quick phone call or do you want?

Speaker 5 (15:14):
TO know i didn't know we had a quick. Phone
call let's.

Speaker 2 (15:16):
GO ahead i don't know how quick it is what, We,
do yes. We do We have kelly on.

Speaker 7 (15:20):
The line now it isn't a, little unrelated but she
wanted to talk About living will's versus a Trust, H
kelly Welcome To florida Talk.

Speaker 2 (15:27):
Real estate how.

Speaker 4 (15:28):
You doing good. MORNING everybody i, missed, You GUYS. JOHNNY
c i mean you all remember just in.

Speaker 2 (15:34):
That season, good, morning yes, good morning, good morning.

Speaker 4 (15:40):
Good. Morning EVERYONE so i have an iguana story at
A complex i Lived in west five.

Speaker 1 (15:45):
Years ago that's.

Speaker 4 (15:46):
Another topic but my question was about if you Are,
leaving florida you're going to another state and there is
your parents' house that, they're elderly and what is better
way to go to keep? Your home is it a?
Living trust is it? A? Will like how do we
do this from out? Of State.

Speaker 5 (16:09):
So i'm not an expert on This because i'm not
in what my old business Part of rob used, To
say i'm not an Attorney and i'm not playing one.
On Air But paul krasker will have the definitely answer.
For this BUT what i think is going to be
the answer is the life trust IS usually i think
the better of the situation.

Speaker 2 (16:28):
Life.

Speaker 5 (16:28):
Estate yeah so the way that works is is that
the person that owns the house still owns, the house
but then somebody comes on as a co owner and
then when that if that, person passes the original owner
passes without going, to probate it goes directly to the

(16:50):
other person that's in the, estate right the.

Speaker 3 (16:54):
Life estate so it's basically your parents or, parents basically or, anybody,
says uh it's a. Deed TRANSFER but i am able
to stay in this home with rights to control and
leverage and, you know get a mortgage or do any, and,
sell like do any of that for the remainder of.
My life and THEN once, i pass it goes to

(17:15):
the person listed or a person or people listed.

Speaker 5 (17:18):
In it and in Most cases i'm not, an expert but
in MOST cases i think that you don't have to go,
through probate and that's one of the reasons why you.

Speaker 2 (17:25):
Do, that now we just that's the big advantage.

Speaker 7 (17:27):
Of it it separates that and then there's also two
other elementary, you know whether it's irrevocable or irrevocable, trust
too and that matters as far as what you're going
to do with the property while the person that owns it.
Is alive and then it also protects it from being
an asset as well to that person if they ever.

Speaker 2 (17:46):
Need medicaid so that's.

Speaker 3 (17:48):
The, Trust, Stuff, Jim yeah so that's different. That trust
that's different than the life, estate deed so one of
them is just a deed and has no other estate.
PLANNING implications a lot of people are setting up revocable,
or irrevocable which is a little bit, you know more
strict because it can never be changed once. It's done

(18:11):
that's more part of an overall, estate plan like AN
estate i wanted, to say a state, planning plan a state,
plan right but within that you control the transfer the
property and so you essentially you create. Your trust then within,
the trust you put assets in control of, the trust
such as the home, the property and then you title

(18:33):
the home to, the trust and then the trust kind
of designates, what's happens you know. With it now you
could also.

Speaker 2 (18:39):
Depends on what you want.

Speaker 7 (18:40):
To do THAT'S and i think that's was my overall
point is you know you may have different avenues you
want to. Go down kelly's talking about maybe moving to
another state that might have something to do. With it
so you know there are, different aspects and sitting down
with Somebody like Paul, of krasker he can answer those
questions for you so that you can tell them what
you're looking.

Speaker 3 (18:59):
To, DO yeah i think the like doing stuff specifically
just with the title of the home can handle the
home on, its own but there might be more to,
the story in which case the trust is a tool.
That's used, but ultimately if you want to do a
state player your parents want to do, estate planning it
could be something, as, like, HEY listen i want to
make sure this goes to, this person this goes to

(19:20):
this and then this you guys split or whatever. It
is there just might be more than, the house and
that's when you want to just sit down with the
estate planning attorney and, tell them, you know whoever, it
is what they want.

Speaker 2 (19:33):
To do.

Speaker 4 (19:35):
My Situation is i'm Moving from florida back home to,
my mother so It's. In pennsylvania so laws are different in. Every,
State yes i'm getting that a will and trust or
eliza will is very much quicker than a dead, set
will is what they call Them. In Florida probate evidently

(19:58):
give me a for two or three years before YOU get,
I mean i guess that's the better way to go
with the the trust as opposed, FULL well.

Speaker 3 (20:07):
I mean i definitely state states are going to, be
different and you definitely Want to so whoever's a state you're,
TALKING about i can't tell if it's, your parents a
state or, your estate but whoever's the state, it is
if they want certain things to happen in a, specific
way they need to talk to an estate planning attorney
who is licensed in that state and knows the rules of.

(20:30):
That State so florida's probate process is very Different, than pennsylvania's,
YOU know i don't know, how different. But different so
depending on whose the state it is and where, they
reside that's where you talk to your state plan attorney
and figure out all of that that wants, to be.

Speaker 5 (20:46):
You know and it isn't that expensive usually to. DO
this a lot of people avoid, their like oh, attorney,
expensive right and then they don't want to do it
and they shut, down emotionally they don't check. It out
it isn't usually that and so to do. This stuff
we just had a customer who was unfortunately diagnosed with
a life threatening disease and was given a certain amount

(21:09):
of time, to live and we weren't sure that the
person was going to make it through. The closing how horrible?

Speaker 2 (21:14):
Is?

Speaker 5 (21:14):
That TERRIBLE so i explained to them that they might
want to have a relative and set up a life estate,
right away So that god forbid if, something happens that
they don't get sucked into the probate System in florida
with the house with, the house, and yeah just we're
talking about, house only so that they would have the

(21:35):
ability to. Sell it or if we're in a contract
in the person passed that we wouldn't have to be
forced to go into probate and not be able to
sell the house to. The buyer and it only cost
in this Case, in florida it only they Went To
paul krasker and, it costed, you know hundreds of dollars
to get, it done and it saves so. Much, time now,

(21:56):
thank god my customer did. Not, pass okay so. That's
good but we had it all. Said protective it was,
super done, super fast, super quick not a.

Speaker 2 (22:05):
Big.

Speaker 3 (22:05):
Deal yeah the other thing she mentioned living will so
so in my Experience, and johnny you've done, this too
the overall estate plan, will include will. Will include sometimes
a trust will include advanced directives for how you want
your end of life care to. Be managed so it's

(22:26):
kind of a it's a it's more than just, a,
House right and there's things that people don't think about
it's sometimes it's very difficult like subject to even bring
up because it involves your demise essentially or the loss
of a. Loved one and but there's more to it
than what. You think so it's if there are things including,

(22:47):
bank accounts like all of these things, like that they
they have default when. You pass there's default decisions that
are made in the in the, you know probate or a.
State process and if you want something other than that,
to happen you got to you got to write. It,
down yeah don't got To, get. Yeah Exactly so.

Speaker 4 (23:06):
Mom, right now who, Is eighty mom is worried they're
gonna for medicaid if she has to go in a,
nursing home they're going to take. Her out so that's
how when you read, it online it LOOKS if i
have to go in a nursing home and we, can't
pay they're going to Say that.

Speaker 5 (23:23):
I've heard of, that before but this is kind of
above our pay. Grade here you really need to talk
to the attorney that's going to do the. Right Thing
and mike is one hundred percent correct an Attorney. In
pennsylvania my only other advice is besides making sure that
they understand probated estates wills that they really understand real,

(23:44):
estate TOO because i don't know how Many times i've
seen a probate attorney or in a state attorney put
together paperwork and then when they go to sell a
property connected to, that estate the title company isn't satisfied
the way that it was, put together and then it's
it's becomes a big mess because the person is around to.

(24:04):
Change it so just be really careful of. That too
so just make sure you got all of. That, covered
kelly what are you going to be moving Up? To
pennsylvania we're gonna.

Speaker 4 (24:14):
Stay there i'm thinking after we were supposed to. Be
supported i'm thinking after. The holidays as you, all know
well you, don't KNOW but i have a non verbal
autistic Kiddo WHO johnny c hasn't met. Many times words
services are just better. Up there and mom's, up there,
she's eighty she. NEEDS help i need to get. Back

(24:36):
home and these are all questions that are valid when
you're looking at what to do and how to, move
forward and believe it, or not you, know there you
know the scammers are still. Out there there are scam
of people trying to get. Your probate there are scammer
of people trying to underwrite your title and and. That

(24:58):
HAPPENED so i appreciate your knowledge and your advice.

Speaker 2 (25:05):
Going, forward well we appreciate you being, Out, there kelly
and obviously we hope everything goes well with whatever transition
you guys. Go through have an awesome remainder of, your
weekend and thanks for all the support over. The years
hye bye, bye now, Thank.

Speaker 5 (25:19):
You, kelly hey let me yeah real quick.

Speaker 2 (25:23):
Eight seven seven nine two seven six nine six Nine,
toll fore you're more than welcome to join the Program
like kelly. Just, did, questions comments concerns in the world of,
real estate Dial. In jimmy they'll go ahead and get.
You going, of course if you're not comfortable on, the
radio remember you have access to entire, team pros pros
experts in, their field Guys Like paul krasker La off
Is of polycrosscher not, at studio but part Of The

(25:44):
florida Talk real. Estate team you get a professional in
whatever field you're. Looking for one Click away floridatalkrealestate. Dot
Com It's florida Talkrealestate.

Speaker 5 (25:53):
DOT com i want to kind of plow through the
shout outs, right now and then we'll take the break at. Nine,
thirty okay my first shout out is one of my
favorites for the, whole year let alone than just. This
month Joe And. Linda joan linda came to us years and.
Years ago joe's a truck driver and they wanted to

(26:18):
buy their first home and they were seniors at, the
time right they were in their fifties or something, like
that and they wanted to buy their. First home and
that always gets me Excited when i'm helping first time.
Home buyers but even when they're older in their first time,
home buyers that gets me. Really excited it's like the
first time they vote a. Home ever. It's great and
we helped them buy a house Up. IN zo i
remember at, the time it WAS during covid and we

(26:41):
had a really tough negotiation on the repairs for the
house during the negotiations of trying to get, it SOLD
and i remember sitting in one of MY bedrooms i
used is converted into an office, back then and working
the phones, really hard looking out my window trying to
get the, deal DONE and i didn't know was very
iffy whether it was going to close, or not and

(27:03):
we got. IT done i was. So happy and they've
been living there ever since five six years now five
years and. Doing. GREAT mike i think they used you
for the loan at, the Time if i'm. Not mistaken
and They used ross, for insurance and THEY Used, TRY
no i don't know if they used TRYING to ti
to close because they were on the buyers side on,
that ONE but i know they would have if they.
Could have then what happened is they started referring us

(27:26):
to a lot of friends and, family members which really.
Appreciated it. Over time some of them were able to
work with some we were not sorry. About, that yeah
we laugh now, following me these people don't KNOW what
i do for.

Speaker 3 (27:40):
A LIVING so, I thought, i thought jimmithy was you
said like they started referring friends, and family AND then
i heard. The music, i'm, Like, oh JIMMY referral a.
Referral drop we are.

Speaker 5 (27:51):
Professionally Produced so joe and then came to me just
a few months ago and they said that they had
inherited a property and they wanted to sell and they
weren't sure how to do it because they had relatives
that wanted to, buy it but they really needed to sell,
it fast and there was a lot of stuff behind
the scenes about whether the relatives could afford the loan.

(28:13):
Or Not they Joe and linda wanted to make a
certain amount of money no, matter what whether they sold
it to their relatives or sold it on the. Open
Market so MIKE and i went down the rabbit hole
with the family trying to get. Them financed we couldn't
really get them Financed through mike at, the time and
then they decided to bring in. Another relative this Is

(28:36):
after mike kind of stepped out of, the picture and
they brought in another relative who came in and actually became.
THE buyer a third relative right became, the buyer and
we were able to close. The deal it was, So,
TOUCHY mike i was so wishing that you were the
MORTGAGE broker cid because we really it was very stressful
right up into the, last moment and we got it

(28:58):
done and we closed it, last Week and i'm, really
nice really really happy. For everybody Joe and linda, are great,
great people and they gave up a lot of equity
in that house to let a family member, buy IT
which i thought was really amazing thing to do for a.
Family member so it was a win win win, for
everybody and it's just really. Really happy And then Joe

(29:20):
and linda gave me one of The best Google reviews
i've had in, so LONG and i really really. Appreciate
that so, anybody listening if you like the show or
if you like the advice, you got even if you
Didn't use it's like you Called, up Mike and, mike
said don't do. A refi you're, not blessed you don't do.
A refy you're not gonna. The money doesn't make sense

(29:40):
for you to DO the refi. Right now and let's
say that's the advice. You got and that, was it
and you, were, Like oh I'M glad i didn't do.
The refine waste. My money go and give us a
little Review on google and just let. Us, know hey
these are, great, people, honest reliable whatever you want, to
say just go ahead and put it On our. Google
review Joe, and linda thank you for. Trusting.

Speaker 3 (29:59):
ME yeah i always loved Talking to Joe. And linda and,
YOU know i think EVEN though i wasn't able to
be part, of this just to get it got complicated
with that stage, of IT maybe i planted the seed
for the gift, of equity which is how they ended up.
Working it at the end of. THE day i think
that the trouble, was, Like so Joe and, linda like
we have a. Long relationship they trust, me implicitly and

(30:21):
then the family members weren't getting, you know they, just
know they just weren't getting, A YES and i, was
like it's so that became, something, like well what's wrong with? Your?
Guy right like your guy can't can't, get this and,
you know there was a little bit of like friction
there with the Relationship that i'm trying to establish, with,
buyers right and so it just, you know Ended.

Speaker 5 (30:43):
Up it's such a teachable moment because what happened with
That is mike was, Telling them, i'm sorry you can't
get the loan the way that this is. Being structured they,
didn't yeah and they didn't like the. Answer yeah so
they were like. The answer they were Projected that mike
was the Problem when mike wasn't. The problem he was

(31:03):
there telling them what the, problem was which is a
big difference between being the problem and helping them with.
The problem so they had another person and this is
the part that really drove. Me crazy they had another
person behind, the scenes another mortgage person who was, a
broker not a direct Lender, like mike who was guaranteeing
that they could get the loan for. These RELATIVES and

(31:26):
i knew they couldn't get It because mike said they couldn't.
Get it if anybody's going to, Get it mike's going
to get it as long. As legit and he promised
them that they were going to get, the loan and
then two and a half three, weeks later. No chance there, was,
like no they're not getting. The loan, i'm like we
just wasted three weeks right of spinning. Our wheels, so

(31:47):
anyway that was part of. The problem so the teachable
moment there was if you're getting, a no understand why
you're getting the know and try to fix it and
just don't project onto the person to and, you Know
because mike never. Says no what he says is not
right now or not. This, way, yeah right you can't
do it. This way it's not, a no it's, just,

(32:08):
like hey we got things.

Speaker 3 (32:09):
To fix and they ended up coming in with another, family,
Member right.

Speaker 5 (32:15):
That's how They and mike could have done, that too
if they were more open to Talking. To mike it's
just that they shut. Down emotionally the buyers some talking
About not Joe. And linda they shut, down Emotionally and
Joe and linda were very frustrated through it because they
Really wanted mike to be involved in this. Deal too
but we got it. All, done yeah he wanted to just,

(32:35):
REALLY quick i know that.

Speaker 2 (32:36):
We're running.

Speaker 5 (32:37):
WE'RE relate i wanted to give another. Shout out this
was a really good week. Of closing it is another Shoutout.
To victor I've known victor probably like seven eight. Years
now he was a fan of. The Show real radio
listens to it because he drives. Around everywhere his girlfriend
needed to sell a House In. WEST palm i helped
him sell the house back in, the day, six seven

(32:58):
maybe even eight, years ago and we've have to touch the,
whole time and we kind of. Became buddies we've gone
out a couple times together. And everything and then he
said to me a year ago, This, MONTH jim i
got to sell my house by the end of, the
year and he. Was done he wanted to move up
where his girlfriend moved to up in.

Speaker 3 (33:16):
The northeast so he gave you a year to sell.

Speaker 5 (33:18):
His, house, yeah, no no we didn't put the house
on the market until, last month and we only had
on the market eight days and we got nearly full
list price for it and got the. DEAL done i
was so happy who bought that, house too because it
was a family not. An investor was a four bedroom
to bath Home In west palm under four hundred. Thousand

(33:40):
dollars so Thank you victor for, trusting US and i
hope you enjoy your life up north and hope to
see you. AGAIN soon i wanted to say just about
a couple other people wanted to give a shout Out.
To jamie we're going to put our house on The.
Market monday That's the airbnb Property in JUPITER that i

(34:00):
talked About with ross. Last week Thank. You jamie we're
going to be putting that on The. Market monday Mike,
and joe we just put their property on. The market
johnny's going to know. This property it's In the colonnades In.
Four pierce, oh yeah and, really nice really nice condo unit.
Out there just put. Out everything i'm still working on
the videos. On that should have That. Out monday tuesday
and go fish.

Speaker 2 (34:20):
B doc if you're out there and you, Like fishing.

Speaker 5 (34:22):
Oh, my god how many fish have you caught on?

Speaker 2 (34:24):
THOSE docks i can't, count.

Speaker 5 (34:25):
Yep yep and what A great florida lifestyle. Out there
It's on South. Hutcheson island there's a, million restaurants a million,
happy hours tons of places. To eat you can go fishing,
every day just drop a line off. The dock there's
boat rentable boat docks. Out there Got The olympus olympus
sized swimming pool that they used to use for The

(34:47):
historic what was that for the Evasion?

Speaker 4 (34:48):
Of?

Speaker 5 (34:48):
Normandy, uh yeah Was The.

Speaker 2 (34:51):
Navy Seals The. Navy seals it's as part OF The
Udt Navy. SEALS marine i think they actually depict that
pool in. That, museum yes.

Speaker 5 (35:00):
That's. True yeah and so if you're Looking for florida
retirement lifestyle on, a budget you got to give me
a call about that property because that's a fun place.
To live let me see.

Speaker 2 (35:13):
What, ELSE.

Speaker 5 (35:17):
Okay i wanted to say shout Out to Ambrose. And
laura we're going to be putting their home on The.
Market monday it's a century. Village unit it's a, two
bedroom one and a half bath unit Up In. Century
village it's had. Some upgrades it's not fully it's not,
fully upgraded but it's got some nice upgrades and it's
clean and ready, to go and there's no issues with

(35:39):
the building or. The unit and then finally shout Out.
To gary gary called up in a panic because his daughter,
had massive massive student. Loan debt he heard our, radio
show he gave us. A call we got him over
to the Office Of. Paul krasker they got. Fabulous results
i'm gonna get into more detail that about that in a.
Future shoes but, student loan if you're, in trouble we

(36:02):
know there's a lot of people right now that are.
Hurting financially if you have student loan debt and that's
settling you down to, call us we might be able
to get you some, spectacular results right and, for sure
we'll get you the answers you need, for free whether
you like the answers. Or not and most people are
gonna like. The Answers, like cary.

Speaker 2 (36:21):
That's right it really is really harmless experience and you can.
Benefit massively and as we found out over, the years
if you're paying your student loans monthly and you're. On
time you're really not even gonna feel the costs that
you're going to be putting into trying to get this
remarkable results that are potentially there. For you because it

(36:41):
kind of just. Works out with the way the way
the whole repayment plan, works out you'll be pretty happy.
With it trust, your boy floridatokreal estate. Dot, com look
if you're looking for that student loan debt help or
anything that touches the world of, REAL estate i assume
we're going to, break Yes, jim, yes yes. Thank you
please remember floridatalkre estate dot com the one stop real.

(37:02):
Estate shop we call it that for a reason because
you get a team of Prospros Like ross cameron That's With,
Bright Winter Sure's, juno Beach Like, mike row the mortgage
guy from the Mortgage firm we've mentioned the Laws Of,
Paul krasker Jimmy d over there With The Florida home,
pros team it goes on. And on we got the
best of, the best and they worn't. Cohesively together if
you've never, experienced it you're gonna be glad. You did and,

(37:22):
of course if You have well you've been sharing The
information Florida talkreal estate. Dot com no what? Use it
love it share you can, change lives including your, very
own with the Prospros Of florida Talkrealestate. Dot com we're
back in. Four minutes thanks for being with Us, Every
Saturday florida Talk. Real estate, right here It's. Real radio.

Speaker 1 (37:52):
This Is florida Talk real Estate With jim Depola and.
Johnny c got a question for, the show call us
live and one eight seven seven nine two seven sixty nine.

Speaker 3 (38:01):
Sixty nine yeah.

Speaker 2 (38:02):
There it is a seven seven nine two. Seven six oh.
Damn too we need to do it every time.

Speaker 5 (38:09):
Right now you guys are so easy. To immute.

Speaker 2 (38:13):
But if.

Speaker 3 (38:13):
We, weren't yeah, ALL serious i. Love it this strictly business.
Sounds terrible we only have to clap at, the, beginning.

Speaker 5 (38:21):
Right only one time, Of show that's all you have.

Speaker 2 (38:25):
To do but we can do it.

Speaker 5 (38:26):
Every time we know we could do it, every time
JUST so i could get. Used to maybe you would
be a. Backup plan, all right we'll try it.

Speaker 3 (38:33):
Next week we go in for. EVERY segment i mean, it's,
like uh.

Speaker 5 (38:36):
Like any, Honey, booster yeah like. A, huddle yeah when
you break.

Speaker 2 (38:39):
The huddle, yeah exactly and then we pat each other
on the ass and where. We go, oh yeah that
kind of we do, that anyway you'll in. The front,
you know we got. Your coverage r, end back.

Speaker 3 (38:52):
Just one pat EXACTLY what.

Speaker 2 (38:56):
I always remember some people, BE like i got. Your
back you, know us we got, your, Front right jim,
damn right. Let's go, Good morning, come on thanks for being.
With us johnny ce is Me and jimmothy, Our. Producer
shortenair of course he's. Right, Over, hello hello and, good.
Morning gentlemen good morning eight seven seven nine two seven
six nine six nine. Totll free if you'd like to,
Join us jimmothy'll. Line yep maybe you want to Talk With,

(39:17):
mike rown the mortgage guy from the. Mortgage room how?

Speaker 3 (39:19):
Are you i'm Good and i'm here available.

Speaker 2 (39:21):
FOR questions i, love that. You know or maybe you'd
like to Speak With ross comana nets with bright. Winning
ss do you? Know beach? What's?

Speaker 3 (39:27):
Up rocks not a whole lot waiting to answer?

Speaker 2 (39:29):
SOME questions i, guess yeah get in Line, behind mike,
all right, all right and, of course uh maybe like
the Chat With Jimmy jim depolo with the floida home.
Pro team he's a top. Producing team Meal With. Calwilliams innovations, What's, Up,
Jimmy hey i'm.

Speaker 5 (39:42):
Doing Great Happy, south. Florida everybody it's a beautiful. Day.
Out uh just, to Mention The National weather service To
The hurricane center or something said that they don't see
anything happening for the rest of the year For hurricane thanks.

Speaker 2 (39:57):
FOR that i think we can all. Get.

Speaker 5 (39:58):
There yep i'm not gonna but.

Speaker 3 (40:02):
We only got, three. Weeks guys nothing for the rest
of the. Hurricane season that's what after, that anything.

Speaker 2 (40:10):
Jimmithy right is there's no staffing there. RIGHT now i,
thought there that's what. They're saying we don't.

Speaker 5 (40:19):
See anything you don't see anything on.

Speaker 3 (40:21):
THE round, i mean they just haven't put any new.
Content out they're just not saying anything. At, All, okay
yeah that. Makes sense you have.

Speaker 2 (40:28):
To be when you're when you're, creating content you have
to be. The beast you can't just take.

Speaker 5 (40:32):
Weeks, off, yeah yep that's. So TRUE so i wanted
to uh talk about some good. News today uh we've
been talking about, you know one of The things i'm
very proud about on this show is that we try
to really, be news newsy and real without without, an,

(40:52):
agenda right without trying to say what, you know what
we like or. Don't like and we've been telling people
for quite a while now that the insurance insurance rates are.
Going down home insurance rates are, going down And then
ross explained to us that even auto rates are going
Down to florida right, now too and we're not really.
Seeing that what you read is in the national headlines

(41:13):
and everything, is like, You know florida worst insurance, rate
ever blah, blah blah. Unaffordable everything and we've, been, saying
yeah that, Did happen but we've been seeing it going
down for quite a, while now right because we've been talking.
About it ross last week talked about a guy who
just saved five thousand dollars a year on his. Insurance
plan he had a ten thousand dollars insurance prop policy

(41:36):
put on a new roof that opened it up to
opened up many many insurance companies that he could choose
from at that point and saved them five. Thousand dollars
Thank you ross for. Doing That and i'm sure that
guy was. Pretty happy and here's the finally headline NOW
that i, was like finally people are starting to wake
up and catch up. With us and the headline. Is

(41:59):
relief it last property insurance price is cool after years,
Of climbing and the article is talking about exactly what
we've been talking about for. Months now property insurance rates
are going down dramatically for. Most people unless you've got
like a really old roof or something, like that you

(42:21):
have a lot more. Opportunities now there were sixteen new
insurance companies that came Into the florida market. Right now
sixteen right we had the most. People leave two or three,
years ago we had the most insurance. COMPANIES leave i
think we only, Had what ross like six companies in
the whole state ensuring at that point.

Speaker 3 (42:40):
OR something, i, Mean man i've tried to block out
that PERIOD.

Speaker 5 (42:44):
Of i don't blame, you so but things.

Speaker 3 (42:48):
Are sooch was one It? Called, citizens, Yeah.

Speaker 5 (42:51):
Exactly that's what he was saying. Back. Then citizens you
talk about? Anythink citizens you say what about?

Speaker 3 (42:57):
The citizens it made it really easy to shop, for
quotes right like For, you, ROSS like i just get
a Quote. From citizens we still always checked everybody just.

Speaker 2 (43:08):
In case citizens was always.

Speaker 3 (43:10):
The best that's where he wanted to do a, Career
CHANGE like i keep on checking twelve different carriers, every
time and there's only one one ever, coming back.

Speaker 5 (43:19):
The one so we are seeing decrease, in rates but
The same, you know we have the same opinion. Out
there because there was a Guy. Named marcelo and Thank
you marcelo for listening to. The show hopefully you'll like,
our page you'll let people know. About it but he
sent a message to us when we said we're going
to be talking, about insurance and he wrote what did?

(43:40):
He write, i'm sorry where?

Speaker 2 (43:41):
Is, it.

Speaker 5 (43:43):
Oh, COME on i can't even find it. Right now
but he said something, sarcastic, about yeah insurance rates here
are ridiculous or something, like that like insurance Rates of. Florida,
ridiculous well they are higher than the rest of, the
country there's no doubt. About that but as far.

Speaker 3 (44:00):
You might have wrote that when we were talking about,
health insurance.

Speaker 5 (44:04):
You, Were.

Speaker 7 (44:04):
Right jim he, just said, you, know insurance.

Speaker 2 (44:07):
That's, ridiculous yeah they're the.

Speaker 5 (44:09):
Rights are ridiculous and they. Have been i'm not disagreeing
with you, on that But what i'm, Telling you marcelo
is that you probably if you're concerned, About that go
get a. Quote, better yeah go get a quote and
find out if you can. GET better a lot of
people are just assuming it's bad because they're reading, the
headlines and the headlines are saying insurance is Bad. In florida,

(44:31):
it's expensive and you think that there's nothing you. Can
do all you have to do is set us your
address either by email or on a phone or, a text, and,
say hey here's. My Address can ross give me? A
quote and if you give me your email and your
address and your, Phone number ross will reach out to
you and give you your answer the. Next day if not, that.
Day yep and if you can save five thousand dollars

(44:55):
with one, phone call do you think it's?

Speaker 3 (44:57):
Worth?

Speaker 5 (44:57):
It right and? Not everybody rates are? Pretty, high Yeah,
so ross tell tell me tell me? All free, yeah
yeah the.

Speaker 3 (45:04):
Fall, rates yeah text messaging, rates Apply, So.

Speaker 5 (45:08):
Ross like out of the people that are coming to renew,
right now are a lot of them getting discounts or
is it just the ones with just put on a brand?
New roofers like do you have to do something to
your house to get these huge discounts that People are
some people are singing, RIGHT now.

Speaker 3 (45:24):
I mean the new roof is the, biggest driver.

Speaker 6 (45:29):
Just because that's that's probably one of the biggest rating
factors as far as. Premiums go but there it's not
so much any new discounts or anything. Like that it's
just the carriers. HAVE experienced i had a meeting with
a carrier, this WEEK and i think he said, something
like we went from twelve thousand litigation files in, a

(45:54):
year like being litigation filed against us in, the year
down to.

Speaker 5 (45:57):
Eight, hundred wow.

Speaker 3 (46:00):
IT'S funny i was talking to a paralegal earlier this
week who worked at a insurance defense, you know that's
the majority of the practice was. Insurance, defense like so
you're working for. The carriers, he, said yeah we actually
most of our stuff was through citizens and he's looking
for a new job because they just slowed their their

(46:22):
volume slowed so far down that, you know he's trying
to figure out what's Next.

Speaker 2 (46:28):
For they don't need as, many paralegals.

Speaker 3 (46:30):
They don't need as many, supports that, you know because
it's the amount of cases that they, were handling like plummeted.

Speaker 2 (46:37):
Probably, twelve thousand eight hundred for. ONE, carrier yep that's.
Amazing results and that was all through just the changing
and how you consume.

Speaker 6 (46:47):
Your, Insurance, right yeah so they basically can't throw stuff
at a wall and hope something.

Speaker 2 (46:53):
Sticks. Anymore, right so for those that, don't recall a
lot of the blame game for why our insurance pre
memes went through. The roof obviously the natural disasters, we
have that that's part, of it but a lot of
the blame game. Was litigation it was we were give the, Numbers,
again ross what was the claims Percentage, of oh and.

Speaker 6 (47:15):
We were florida was like eight percent of property damage
claims filed In The. United states we were eighty percent
Of The united states for property damage claims.

Speaker 2 (47:28):
That resulted in. A lawsuit. That's huge AND then i think.

Speaker 6 (47:32):
The number was in, Twenty TWENTY like, i say, fifteen
billion and it, sounds Ridiculous but i'm. PRETTY sure i
looked it up to verify, It Again like i've said
it so, many times but the number, sounds Ridiculous but
i'm pretty sure. It's true but out of the fifteen
billion dollars that was associated with the claims that resulted in,
their lawsuits so all the money that was paid in

(47:53):
those only eight percent went to actually pay the actual property.
Damage claims they change the laws on how you CONSUE,
your yep so seventy percent of the money went to
the plaintiffs attorney the, plaintiffs attorneys and then you get
the other like twenty percent to the turns it down for.

Speaker 2 (48:11):
Everybody, else yeah so when you can change how the game,
is played then you get. Dramatic Results and ross told
us it's going to take a, little time but you
should start to see the results, from this and thankfully.
It's working and.

Speaker 5 (48:23):
It's working so here's the. Good news and part of
the reason why we're seeing such huge discounts is ANOTHER
thing i thought that was kind, of interesting a little
factoid stuff about what's going on with this is the
amount of People. On citizens remember at One, POINT citizens
i think was almost that two million people. Or, something

(48:44):
sure that.

Speaker 2 (48:44):
Depopulation has been going on for a, while, now though.

Speaker 6 (48:46):
Yeah're getting really strict now they're going to start running
their renewals through what.

Speaker 3 (48:53):
They refer to as.

Speaker 6 (48:54):
The clearinghouse so if we want to actually bind a,
citizens policy we can't Bind, the normally you do a
quote and then you can move it to an application
and then finalize it. From there now you do a
quote Like, in citizens but then if you want to,
finalize it you have to, run it put all the
information again and run it through this, clearing house and

(49:16):
that clearing house determines whether or not it's eligible, for
citizens meaning does another carrier come back within twenty percent
of that. Citizen's premium it feels.

Speaker 2 (49:27):
Like the way it should, be, done right because isn't
citizens kind of originally designed to be the carrier of.
Last resort this is your, safety net this is the
we really don't have any other options.

Speaker 3 (49:37):
For You, here's, Citizens right and because it got, so
crazy it used to be just kind of like on,
your honor, you know you'd, you know maybe there was another,
company close but you your proof that it met the
condition was maybe another you sent in another quote that.

Speaker 6 (49:53):
Was higher we always tried to do. Things correctly we
never wanted to, use citizen, of course.

Speaker 3 (50:00):
But now they were because it got, so crazy they
actually required to run it through this other system and
then hopefully it comes, back okay and then you can
bridge it over from there and finalize it it certified,
citizens ready and then they're going to do that for the.
RENEWALS too i do have a question.

Speaker 5 (50:17):
About that so, let's say just to make things, really
simple let's say that your insurance policy is one thousand dollars,
a year and WHERE do i. Get that Let's say
citizens gets me a. Small condo Let's say citizens gives
me one thousand dollars. A year but that slide insurance
and just making it up is one and ninety nine dollars.

(50:40):
A year so it's just below the, twenty, Percent right
so if it's below the, Twenty percent i'm going. To
slide you're going. To slide even though that it would.
Save me.

Speaker 3 (50:54):
You're not eligible.

Speaker 2 (50:55):
With it.

Speaker 5 (50:55):
Not, eligible okay THAT'S what i wanted to make sure.
About that now for, the numbers listen. To this so
we're at, two, Million, right well this, year alone we
have taken three hundred and fifty five up to the
state three hundred and fifty five thousand homeowners Policies office
citizens and moved it to. Private insurance right at the beginning,

(51:21):
of year we're at one point. Four, MILLION well i
shouldn't say the, beginning year we only have right now
we hit a peak of almost. Two million we only
have four hundred and eighty two thousand policies Left in citizens,
right now so we reduced it by seventy.

Speaker 2 (51:41):
Five, percent well it sounds like the number is just
going to keep taken away, with that and it's.

Speaker 5 (51:45):
Going to get. So own so this might really turn
into insurance of. Last resort this might really finally be
which nothing wrong, with, that right doesn't.

Speaker 3 (51:55):
Sound like the rules have changed?

Speaker 2 (51:56):
That much?

Speaker 3 (51:57):
Is now now there's, more, competition right, more carriers there's
more and so there's there's just more policies that Fall
within citizens guidelines for for their what do they call
it the offloading or.

Speaker 6 (52:07):
THE depot, i mean you're gonna see you're you're still
going to See Your federal pacific, breaker boxes, you know your,
cloth wirings you know some, some company you know a
lot of companies DON'T like. Pex plumbing citizens is okay,
with it so.

Speaker 3 (52:25):
Only Qualifies. For, citizens yeah there's no other forget about.
The rate there's no other carrier that would take your
take your policy or a triple a carrier whatever.

Speaker 6 (52:32):
It's, Called, Right YEAH and i mean but citizens premium
is still. Pretty competitive but with their new, you know
their changes In effective january first of, this year all
new business policies with a dwelling coverage of four hundred
thousand dollars or more will be required to carry. Flood
insurance and so and then if your policy for news during,

(52:56):
that period if your dwelling coverage is over, four hundred
in order to re new, yr policy you'll be required
to have. Flood insurance and that's just a citizens it's
just a. Citizens, Thing yeah but there's a lot of
companies that are part of the required documentation that you've
got to upload to them right now is like a
flood waiver or provide them proof of. Flood insurance they

(53:17):
either want to see it or pay an acknowledgment that
they that other people know that.

Speaker 3 (53:22):
This policy so even if you're not in a flood
zone where your lender requires you to have, flood insurance
if you're dwelling coverage of a, certain amount citizens going
to require. Flood insurance but because it's not a flood,
you know i'll call it a, flood, zone right like
high risk, flood zone that policy is not going to
be super expensive. Typically not and so then you're kind

(53:44):
of like they're like forcing you to. Do it but
then you got to, you know you got a flood
policy and it probably didn't cost you.

Speaker 6 (53:49):
That much, SO yeah i mean we looked at one
the other day and it, was like we know what's
good for you sixty five hundred for like an, alternate
CARRIER and i think like with his citizens policy and
his flood it was. Six, thousand okay they're still seven
five hundred bucks and you're getting an extra policy or
forty percent of flood claims happen or for people, not,

(54:11):
Flood right and then the question is, always, like okay
but if you have to if you have a claim
and you got to house citizens on the claims process
versus carrier A, carrier b and is it still like.

Speaker 3 (54:24):
They're all kind of they're all insurance companies at the
end of. The, DAY yeah i mean or citizens the same.
Insurance company they're just not. For profit they operate by the.

Speaker 6 (54:31):
Same rules everybody's got to stick to the same claims
guidelines and, you know response times and.

Speaker 2 (54:38):
They all have the.

Speaker 3 (54:38):
Same.

Speaker 5 (54:38):
Rules, yeah uh let's go ahead and take a break at.
This point on the, flip side we are going to
be talking a little bit about mortgage rates of. What's
happened mike was out, last week so we're going to
talk we didn't talk ABOUT the fed cut too much
and what's happened, since then so we're going to talk
about that a little a. Little bit we're also going

(54:59):
to talk a little little bit about, flood insurance just
to understand flood insurance a. LITTLE better i was going
through the different zones for flood INSURANCE and i got
CONFUSED and i, was like you, KNOW what i need
a brush up on. Flood insurance ross is going to
be on. The show let's learn about flood insurance a little.
Bit more so we're going to talk about that on the.
Flip side so mortgage rates and what's going on with
the buying and selling in the market, right now and

(55:22):
understanding flood insurance a.

Speaker 2 (55:23):
Little Better excellent lots to. Get into still an hour
remaining On, this saturday the Eighth. OF november i can't
believe It's already, november eighth but thank you for choosing
to be with Us. EVERY saturday i Always Remember florida Talk.
Real estate You're, on facebook. On YouTube lots, to consume
and of course the dot com that's your one stop
real estate chop prospros At floridatalkreal estate, dot com you

(55:45):
get them on if you're buying, a home selling, a
home you're stuck with, a home you don't know what
to do anything that touches the world of, real estate
and you need. Professional guidance, trust me floridatokreal estate dot
com is a wonderful resource for you, know what use
it love. Of sharing you can absolutely, change lives include
your very own with the pros Pros Of florida talkrealestate.
Dot com we're back in. Four minutes thank you for

(56:05):
being on Us. Every saturday it's right here On. Real radio.

Speaker 3 (56:23):
This Is florida Talk real Estate With jim Depola and.

Speaker 1 (56:25):
Johnny c got a question for, The show call us
live at one eight seven seven nine two seven sixty nine.

Speaker 2 (56:32):
Sixty, nine yeah you can. Do that eight seven seven
nine two seven six nine. Six nine got about fifty
five remain minutes remaining On. This SATURDAY And i i'm
not gonna Speak For, jim Athy but i'm fairly certain
he'll line you up and put you on.

Speaker 5 (56:45):
The, air absolutely keep me busy.

Speaker 2 (56:47):
Over here give us.

Speaker 7 (56:47):
A call eight seven seven nine two seven six nine.

Speaker 2 (56:49):
Six Nine like johnny, Just, Said, okay well AT least
i can rely on THAT assumption i made TODAY and
i may not assume. Anything, Else yeah i'm one for
one and just end it. Right there thanks for, everything,
always dude, good scene but as a pleasure on my side.
As WELL. Johnny c, that's me your, Old buddy you're.
Old Pal mike row. Is here he's the mortgage guy
from the mortgage from good morning. To you, good morning,

(57:11):
good morning. Good Morning And ross comarone's With. Bright walliamsurance
You know beach he's here. As well you know, That's
right and if you don't believe me that they're actually.
In studio we live Stream, on facebook On YouTube florida
Talk real estate on both you can check. Them out
you'll Also SEE jimmy D, jim dopola our fearless leader
thirteen plus years now running a Top Producing keller, williams
Team The Florida Home pros Team With Keller. Williams, innovations Hey,

(57:34):
Jim DEPOLO, jimmy d how?

Speaker 5 (57:35):
You?

Speaker 3 (57:35):
Be one two you don't believe?

Speaker 2 (57:38):
We're here watch? This one two. We didn't we're getting
pretty worse at that so. Probably, Team yeah i've, Got
SPIRIT yes.

Speaker 1 (57:50):
I do.

Speaker 3 (57:53):
I got about you and Waiting for jimmy to, be, like,
listen guys we're not quite synchronized on. The clap can
we show up here on a? Practice right Yea.

Speaker 5 (58:03):
PRAT uh i have still got a lot to talk.
ABOUT today i wanted just to do a couple of
little more. Shout, outs mcgalli who's listens to our show all. The,
time mcgley if you haven't given us Review, on facebook please.
Do it please on a Not, on Facebook on, google
reviews please. Do it but mcgaly just say four hundred

(58:24):
dollars a month on her, insurance, Plan RIGHT so i was,
just thinking that's like thirty three dollars.

Speaker 2 (58:29):
A month i'll.

Speaker 5 (58:30):
Take it that's a. MORTGAGE payment I think i'll take
that all.

Speaker 3 (58:33):
Day, long, Yes yeah so.

Speaker 5 (58:36):
It's, out there, it's real. It's happening if you need,
insurance discounts you got to give us. A call We're
gonna and she also said that she pays for flood
insurance even though she's not in a. Flood zone we're
going to talk about that in, a SECOND but i
want to get into the mortgage stuff just for a. Little, Bit,
so mike while you were gone that, One Week jerome
powell and the group decided to cut the interest rate

(58:58):
again another. Quarter point after, that cut our interest rates
went up point ZERO two, i Think if i'm, not
mistaken what is the number we're?

Speaker 2 (59:07):
At?

Speaker 5 (59:07):
Today, Yeah, up no we went point zero five up
instead of being, a nickel that's seven cents more on your.
Mortgage payment point, zero, Five right but we're at six
two to. Two now the low we've had for THE
year i think is six. One six so we're still.
Pretty low but but the interest rates are not continuing to.

(59:30):
Go down this is the first time in a couple
of weeks that the interest rates. Went up we're talking, about,
Slightly guys i'm not making a big deal, about it
but we're not continuing to. GO down i don't think
that we are going to continue to go down. Anything
significantly like do you see us getting into the fives
by the end of. THE year i think we'll have
like a five.

Speaker 3 (59:50):
Point reduction, coming maybe and so we'll see a quarter
probably quarter point reduction leading up to, that decision and
then it'll it'll hold or go up or something.

Speaker 2 (59:59):
Like that that.

Speaker 5 (01:00:00):
Slightly so but the last, two cuts we didn't get
a quarter point drop in the, mortgage rates but we
did leading up to, the cut not a whole quarter point,
PRETTY much. I, Think, so mike Six five, september fourth six,
point One seven, october thirtieth.

Speaker 2 (01:00:16):
You're there and when's? That, meeting uh it's.

Speaker 3 (01:00:20):
Coming, up wait you're Gonna.

Speaker 5 (01:00:21):
GO oh i was planning.

Speaker 2 (01:00:23):
On, IT yeah i just want to MAKE sure i
work covered.

Speaker 5 (01:00:27):
Six three were we at like six three when they
cut the rake? One time? Maybe not we get that
now we didn't get a. Quarter, point no.

Speaker 3 (01:00:37):
Well we've had the quarter point drop Since. Early, september
yeah but.

Speaker 5 (01:00:42):
We've had a half point of cuts FROM.

Speaker 3 (01:00:44):
The fed Since.

Speaker 5 (01:00:45):
Early, september yeah we've had two cuts at a quarter
but those.

Speaker 3 (01:00:48):
Are happening every. Eight, Weeks right we're going.

Speaker 5 (01:00:51):
To have another, six weeks, six weeks but we're gonna
have another One. In, December right the last one will Be.
In december the, last meeting so they were acting to,
cut again and all things, being equal they think that
we're going to have.

Speaker 3 (01:01:04):
ANOTHER question i have to look.

Speaker 2 (01:01:05):
At it.

Speaker 3 (01:01:06):
So listen it's not like an exact we're not moving at.
Quarter point but the trend that we, are SEEING and
i think we can go back and see any of,
these cuts is that mortgage rates are anticipating, the cut
and then so they they're like coming down toward that
to that level leading up To the. Fed announcement and
then When the fed, announces, things uh we've already kind of.

(01:01:27):
Preempted it and then depending on the details of what,
he says and like the what the investment world is
reading in the tea leaves from what he says at,
the meeting like when they, announce it then we, see
okay well wait, a second it's not quite quite, so
rosy or it's not quite so bad, or whatever and
you'll see tiny. Little blips so that's why why rates
went slightly up with what, he announced with his uncertainty,

(01:01:53):
about unemployment and then you had a jobs report come
out that was, you know kind of, you, know uh
matching up with what he was saying he was slightly.
Concerned about and then the then the market reacted and
works rates went, up slightly basically as a ten year
treasury note went. Up slightly why did the ten year
treasury note go? Up slightly because Of global, you know

(01:02:16):
there's a when when there is what is, it strong
when people are, feeling good the treasury, is, like hey
we're not selling as many bills as, We want so
we're going to increase the yield so that we can
get more investment IN the. Us bond so that's. What
happened so so are we going to get down to

(01:02:36):
six by the end of.

Speaker 2 (01:02:37):
THE year i. DON'T know i.

Speaker 5 (01:02:39):
DON'T think i.

Speaker 2 (01:02:39):
DON'T know i.

Speaker 5 (01:02:40):
Don't, THINK well i think we're going to have a
six at the end of. THE year i think the
number will have a Six point it might be it
could be, Point ONE but i don't think we're going
to hit the fives.

Speaker 2 (01:02:51):
This year but what if it sneaks to five, ninety nine.

Speaker 5 (01:02:54):
They, could yeah just it would. Be yeah but but
the thing is is if we are seeing, THE rates.

Speaker 2 (01:03:04):
I.

Speaker 5 (01:03:04):
Don't know The thing i'm really concerned about right now is.
The Unemployment so i've been saying since twenty Eighteen that
i'm worried. About stagflation so broken clock is right twice.
A day but we are setting ourselves up for stagflation,
right now pretty. DARN good, i mean if you want
to even. Create, that yeah read three difference this week.

Speaker 2 (01:03:26):
That, we're like, uh oh you Know those canary innic coal.

Speaker 5 (01:03:28):
Mine things it, was, like, oh well the thing is
is what we didn't have during the other times was.
Unemployment problems we might have, had inflation but we didn't.
Have unemployment but now we're having unemployment. And inflation. That's
stagflation that's what.

Speaker 2 (01:03:43):
Stagflation is it's interesting how they dissected just the month
and the. Headline sensationally have to read the, story Obviously
but october. Job cuts october job cuts was The highest
october job cut in twenty. Two, Years yeah and again
the headline was biggest cuts in twenty. Two years so

(01:04:05):
if you just go away, with that, you're like what
you read through It's. Just October so October. To october
october the most jobs lost in a Month of october
in twenty.

Speaker 5 (01:04:15):
Two, years yeah and that doesn't that doesn't actually, mean anything?
Is weird it could, Mean, something well it'd be the
beginning of. A.

Speaker 2 (01:04:24):
Trend, yeah also the number of repossessions on autos right
now is a fourteen.

Speaker 5 (01:04:31):
Year high it's all. About employment and That's what i've been,
saying always is that if employment, changes dramatically that's when
the wheels fall off. This cart because that's what we
saw in the Last and i'm not saying we're going
to have a real estate crisis like the. Last Time
but i'm just trying to use some kind of. Litmus

(01:04:51):
test the, last time it was unemployment that really, killed
us because what happened was when everything started getting upside
down because all the dirty loans they, were written people
were just walking away, from that and it affected the
economy in other ways where people started not buying stuff
and that made people lay off more and it just

(01:05:13):
became a self fulfilling prophecy where it just got worse.
And worse and the other thing is IS that i
didn't know this until. Last week eighteen percent OF our
gdp is real. Estate related so when the real estate,
market goes that's one fifth almost OF our gdp that's.

Speaker 3 (01:05:31):
At risk well you educated us on.

Speaker 5 (01:05:33):
That, Alone YEAH and i didn't KNOW until i. READ
it i knew that it had a, ripple effect that
it had all these ripple effects like. REAL estate i
knew it really. Affected, ECONOMY well i didn't know was
eighteen percent what sauls under that. Umbrella, Really yeah mike
wasn't here. Last week so what we explained last week
was when you have when you end up buying, a,

(01:05:54):
house right you have the listing agent the, buyer agent the,
title company, insurance company the. Property inspectors all those people are, being,
paid right are. The appraiser all of those people are
being paid to. Do stuff, loan, Processors right all that stuff.
Is happening then when the people buy that moving company

(01:06:14):
and when people then when, people buy then they're going
to fix the. House up then you have hand default
lows and. All that so when you start including and,
the construction like the construction to build the houses that are, being,
bought right all of that is eighteen percent of, the
economy the. Ripple effect so when you have a bad real,

(01:06:35):
estate economy that's that's one, in five, you Know twenty
i'm rounding, it off but twenty percent of OUR whole
gdp is relying.

Speaker 3 (01:06:44):
On that so if we wonder if credit reporting fees
is under, THAT umbrella i would assume.

Speaker 5 (01:06:49):
That they would. Count, that YEAH like i would assume
that they include part. Of that so the ripple effect.
IS amazing.

Speaker 2 (01:06:57):
I don't.

Speaker 5 (01:06:58):
You know the thing that bothers me is just watching.
THE unemployment i didn't get to READ everything i wanted
to this week because it was a crazy week, For
ME but i did read that headline About the. October
UNEMPLOYMENT but i also read that there was a lot
of unemployment going in a lot of different industries. RIGHT
now i didn't get to read the, whole chart but

(01:07:20):
it seemed like a lot of different industries were. Laying
people a.

Speaker 2 (01:07:23):
Lot, of, cutbacks yeah going. On exactly, and uh what was? The,
third oh the third THING that i read that, was like,
oh man because it was just, like three, like, oh
nos was the household debt numbers the highest it's ever
been in. This country it's eighteen point six, trillion dollars
almost almost half the nation's the, federal deficit that's household

(01:07:45):
income debt almost nineteen. Trillion dollars, no wonder rebos are
the highest they've been in. Fourteen years everybody's about. Tapped
out and that's that's where it get stuff because we
always used TO well i, always, say hey just keep
spending because that's what that's what we need, our coomy that's.
Our engine you got to. Keep spending so what's the
credit lines run out? For folks the spending is going

(01:08:08):
to stop. Pretty quickly and then that's again that's that's
where the worry. Comes.

Speaker 5 (01:08:11):
In now now that, being, said uh with the economy still.
Being weak if, you are if you have strong employment and,
you're running you're missing out because this is a really
good time. To buy it's still a good time, to
buy as long as that you could afford the mortgage
payment that you're going to. Move into it's still a

(01:08:32):
really great time. To buy and what a lot of
people what my recommendation is to people that are on
a really really tight budget and they've been, running, forever
right but they really really want to be. A homeowner you,
KNOW what i find out a lot, of times a
lot of the first time homeowners right Now that i've
been dealing with are kind of unrealistic about what they

(01:08:54):
could buy with. Their budget LIKE when i bought my,
first home it was. A foreclosure i paid sixty seven
thousand dollars. For it this is nineteen, ninety four and
it was, a foreclosure and sixty seven thousand dollars was
eight hundred and sixty five dollars a month mortgage payment.
FOR me i remember how much it was and freaking
out that that was really HIGH because I think i

(01:09:15):
was paying like five point fifty, for, Rent right and how.

Speaker 2 (01:09:18):
Much is that in?

Speaker 3 (01:09:19):
Today's money what.

Speaker 5 (01:09:21):
Do you, mean yeah how? Long, AGO yeah, i know thirty, years,
ago right thirty. Years ago so the thing is is
THAT what, i, did though WAS is i knew that buying,
a home EVEN though i wasn't in real estate at,
THAT point i was. A journalist i knew that buying
a home would help me grow wealth. OVER time i
also liked the idea of getting equity in my home

(01:09:43):
instead of just paying a landlord and having them get
the equity and the tax breaks at, the, time right
you got used tax breaks on, your interest on the
mortgage entry pace and all of. Those things, IS like
i got to buy, the home and, you know fifteen,
years later that house was worth, you know over three
hundred and fifty. THOUSAND dollars i paid sixty seven. For

(01:10:04):
it and it was A good it was a. Good
move people should be thinking about. THAT now i have
a home that's coming on the market, Right now James and.
Jones's property it's a, two bedroom two and a half bath. Town,
home mike you Just had alex your steps on look
at a bunch of properties that were like those kind.
Outs down this house is in perfect condition as far

(01:10:26):
as moving. In now it's stated it's got. Original cabinets
but let me, tell you those cabinets look brand new
and you can replace them now only do they open.
And clothes they're so clean on. The inside you know
how when you get the older cabinets they start collapsing.
And stuff this kitchen Is, like christine the mom that,
Lived there james's mom, lived there took a really good
care of. Her house the bathrooms are in. Great shape

(01:10:48):
one of them's. Been updated there's a. Tile throughout it
kind of needs a paint job and. Carpeting upstairs and
if you, did that you've got a. Great house right
this house is going to be sold for like fifty
sixty thousand less than the homes that are fixed up
in that. Same neighborhood so if you could move in
in the low twos for this house, and overtime and

(01:11:11):
you paint it and, carpet it that'll. Get you the,
AC's good the water heater, is good the appliances are in.
Great condition so all you got to do is. Like overtime, it's,
like hey, ONE day i want to redo, this kitchen
and then you save up for it and you do
the kitchen when you want to, do it or, it's,
Like hey i'd like to upgrade that second bathroom and
then you do it when, you.

Speaker 3 (01:11:31):
Want or maybe you buy it now with like like a,
renovation style or you.

Speaker 5 (01:11:35):
Could do a construction loan and get it all done
now and then, you oh let's say two ninety in
the house is worth like three. Thirty, five, good right
because the ones fixed up in great condition in, this
neighborhood they're going like three fifteen to three. Thirty five
so these are great first time home. Buyer houses sellers.
ARE motivated a lot of sellers out there. To motivated

(01:11:56):
they'll probably give you money to help pay for a
closing cost down payment if your first time. Home buyer.
Let's go we have all these Programs that MIKE and
i use to help the buyers get money from the
state you to help help. BUY things, i mean what
more do?

Speaker 1 (01:12:11):
You?

Speaker 3 (01:12:11):
Need what and the.

Speaker 5 (01:12:12):
Interest rates over a forty year period historically low six point.
Two two let me tell you in nineteen NINETIES when
i paid nine and, a, QUARTER right i would have
loved to have six point. Sixty TWO when i paid
nine point twenty five for my first home right in nineteen,
NINETY four i Think the so you.

Speaker 3 (01:12:30):
Talk about the economy and all. This stuff the, question
is let's say you're you're, a buyer and you're in.
Good shape you qualify like your, job stable your, Income
stable you're not like subject to these like things that
we're talking about that are, had unemployments, you know high,
credit utilization all of. That stuff so, let's, say, like
so NOW should i be waiting?

Speaker 2 (01:12:49):
For SOMETHING?

Speaker 3 (01:12:50):
Should i is there something going to happen with, interest
rates with with? Housing prices like that's the question that
the savvy buyer is thinking about, Right, Now jim and
so what would make THEM like i don't want to,
Say convinced but if you are making the case that,
don't wait what would that? Look like and if you
were making the case, to wait what would that look

(01:13:11):
like the case?

Speaker 5 (01:13:12):
TO wait i CAN'T even i don't know what else
to say about not, to wait right because it just
makes so much common sense right now that this is
a great time to take advantage of a. Weeker market
if you're, a buyer this is like the perfect time to.
Do that but not to wait or, To, wait okay
if you wanted, to wait my number one answer would

(01:13:33):
be how stable is?

Speaker 2 (01:13:35):
Your?

Speaker 5 (01:13:35):
Job right if you feel like.

Speaker 3 (01:13:38):
It's stable let's just talk about.

Speaker 5 (01:13:40):
No, reason well then there's NO reason i could sum.

Speaker 3 (01:13:43):
It up if, you're waiting you're waiting for rates to
come down and prices to. Come down you need both
of those things to happen at the. Same time that's
what you're. Waiting for so to, predict, that like is
that possible that both those things are going to happen the. Same, Time,
no no it.

Speaker 5 (01:13:58):
Doesn't happen so you're waiting for something that isn't, gonna
happen you might as well just wait.

Speaker 2 (01:14:03):
Or, whatever uh if totals hits the fan and we
just we go into quantitative easing ON the fed level
because just everything's, bottomed out including like. Every, market well
the interest rates for buying a home. Come down uh.

Speaker 5 (01:14:22):
When when, we started when we started, the show that's a, Great.
Question johnny but when we started the show and we
were in short, Sell crisis i'm looking, Right now uh the,
Interest rates so we were in The five is that where,
You're looking i'm, looking, like yeah, Right, now yeah this
IS what, I, thought, like okay right after, the crash

(01:14:44):
so That was october of five was, the, Crash right people,
Forget this but LIKE from o five UNTIL until, o
nine we were In the we were in the high
six is to, mid fives, all, right right so right
about where we, are.

Speaker 2 (01:15:04):
Now predictably, use it we're using. Past results the answer would,
be no they're not going to come down to where people.
Want it but the homes may be worth a. Lot
less the homes will be. Worth less and this is a.
Doomsday scenario there's nothing that indicates the housing marketst.

Speaker 5 (01:15:19):
In trouble the only WAY that i see houses will. Be,
Affordable again i'm talking. About. Affordability, affordability okay we've already
seen insurance, go, Down right we're seeing that. Go down
that's gonna be a, big help right because insurance makes
the difference as part of your. Mortgage payment but the
other the other thing is the other thing that we,
need though is we probably Need a people are gonna

(01:15:42):
hate me, for this but People are we probably need
a ten to fifteen percent correction in prices because when
you look at, The, chart russ you can see the
chart right now on this look at this, chart right
this is going back all the way to two thousand. And,
six okay so RIGHT after covid we got here and
look at the. Chart afterwards it's like a straight up

(01:16:05):
ninety degree angle chart of how the interest rates went
from twenty twenty one until twenty. TWENTY three i mean
it was. Like this it isn't on, an angle it
was straight.

Speaker 2 (01:16:17):
Up there there are more TIMES than i. COULD count
i just like three, NIGHTS ago i have this conversation
with my wife was we're getting tucked.

Speaker 3 (01:16:25):
In ready you guys still talk only when.

Speaker 2 (01:16:32):
We don't like to pretend we like each other. In
public there are many Times that, I'M like i can't
believe this house IS worth. X right it blows. My
mind this house is. WORTH now i know it's worth
what somebody's willing to pay, for, it obviously but it's
just the valuation OF what i sleep in and every now.

Speaker 5 (01:16:55):
For normal appreciation that we normally See, in FLORIDA and
i used to say it was three to four percent
when the rest of the nation was two to. Three
percent but then we kind of moved closer to five percent, being,
Average right and we've hit twelve percent, ten percent like
crazy appreciation year. Over year but if you if you

(01:17:15):
kind of do it at the five, percent thing we're
probably fifteen ten to fifteen percent above where we need.
To be and what people forget is when we had
the crash in two thousand, and five which was the
peak of home prices at, that point we didn't turn
around until the end of, twenty twelve right at the
year we started, the show is when we started going

(01:17:38):
back up again for the. First time so it took us.
Seven years we dropped for, seven, years right but by,
twenty fifteen ten years after, the crash by, twenty fifteen
we were exactly where we were supposed to be for
average appreciation year over year over year for that. Ten
years it's just that we had this one blip when

(01:17:59):
we went crazy high for a short period of time
and then we went crazy low for a short period.
Of time but when the smoke cleared for the, ten
years we're exactly where we're supposed. To be it's just
like we had all this. Drama INVOLVED if i remember you.

Speaker 3 (01:18:13):
Used to talk, about that like if you just drew
the straight line.

Speaker 4 (01:18:18):
End.

Speaker 3 (01:18:18):
Up, exactly yeah you, know what look right where we should,
Have been like we hear now where we should have
been without these without those role.

Speaker 5 (01:18:25):
And in, this cycle because we've seen, this high crazy
price increase with the crazy interest increase at the, SAME
time i believe that we're ten to fifteen percent above
and if we had a ten to fifteen, percent drop
we would be exactly where we're supposed to be at,
that point and that would make everything.

Speaker 4 (01:18:44):
More.

Speaker 5 (01:18:45):
Affordable right the average Home, IN florida i think is
four hundred, And forty so if the average home at,
this point that would be three eighty five, four hundred
three seventy five to four hundred instead of a four forty.
Average SALE so i really feel like the correction has.
To come something's got, To GIVE but i don't know

(01:19:07):
how it's. Gonna happen THAT'S what. I think it's.

Speaker 7 (01:19:09):
Gonna, be unemployment it's, Gonna hurt we're gonna go side
of things so much if it really, did that, you
KNOW because i agree.

Speaker 2 (01:19:18):
WITH you i think we're we're a little overinflated.

Speaker 7 (01:19:20):
On prices but, YOU know i hate, to say but
that's gonna hurt a lot of people that bought at
that higher level and you're gonna lose all.

Speaker 5 (01:19:27):
That equity, it is, it is it's. Gonna be it's
gonna be very interesting BECAUSE so i don't know how it's.
GONNA shoo i don't know how it's. Gonna unfold But
what i've, Been saying i've been saying pretty consistently for
a couple of, years now keep an eye. On unemployment
unemployment is going to tell you where the economy is
going more than. ANYTHING else i don't care about the,
inflation stuff because we had nine percent Inflation under biden at.

(01:19:50):
One point right when it got up, that high we
were still.

Speaker 2 (01:19:52):
Cooking, along yeah well it'll again, the, economy yes but
how much will affect the housing market? Again values it
may not change values at all if the economy slows,
way down and it may not change it infistrates much,
at all if the housing market could stay right kind
of where, it is everything else.

Speaker 5 (01:20:11):
BURNING around i think that if, unemployment happens the prices
will drop.

Speaker 2 (01:20:15):
It just because, Of necessity but like it'll buy.

Speaker 5 (01:20:18):
The sellers are going to be going, into foreclosure so
they're going to sell the house in order to take
as much equity as they can and not lose all
that equity they have in.

Speaker 3 (01:20:28):
Their house so unemployment over extended on credit at the
people's defaults mortgage.

Speaker 2 (01:20:34):
At that, Point though at, that, point though why wouldn't
you just refin take bite, the bullet go from your
forty year because.

Speaker 5 (01:20:40):
You can't because then you're going to Go. To mike
mike gets this all.

Speaker 1 (01:20:44):
The.

Speaker 5 (01:20:44):
Time johnny it's a, great, Question right so you're going
to Go to mike, And, GO mike i. NEED money
i just lost my JOB or i haven't made my
payment in three MONTHS and i got all this equities
sit in. MY house i need to tap. That, equity michael,
Go okay and then you'll look at your. Credit Reports,
like johnny you have to keep a you have to

(01:21:05):
have a perfect payment history for. One year can you get?
A helock so if you haven't made a perfect, payment.

Speaker 3 (01:21:11):
History you've gotten To where gym's. Talking, About no but
if you're anticipating or want to if you want to
Save that i'm.

Speaker 2 (01:21:17):
Talking, about anticipating don't let it go to warrior. For
closing that's that's that's.

Speaker 5 (01:21:22):
People do that all the, Time though but that's.

Speaker 2 (01:21:25):
What happened there is a way you can you can,
be like, Oh man i'm in a. Bad spot he
loock can get.

Speaker 3 (01:21:29):
You there if you want a, safety netty you can
get approved for a home equity line of credit against
your existing equity position and you're, well qualified you could,
do it and you just you don't have to use.
That money that's, the, thing right it's there question ten, Years,
right uh it depends some of them, five years some
of them, ten years some. Of them, you know it's
just a. Different structure so that's possibility somethody can talk

(01:21:50):
to people about if they want. TO active i will, Caution,
You johnny you're able to access. That money and so
when a big game is on and you got a
Feeling or, Jim's like, JIMS like i just need grant
to get Into The world series whatever, it is you

(01:22:12):
KNOW what, I, mean yeah or that that boat or that.
Jet ski so there's a there's a little bit of
a risk factor there because everything's, going, Great right like
you just set up the. Safety net so definitely something
to think.

Speaker 5 (01:22:22):
About it but let me tell you what happens in
real life with, that helock because it happened to me in. Real,
Life okay so everybody KNEW that i got in trouble after.
The crash i've talked about that on the, Show, BEFORE
right i had. A helock one of MY things i
was using is a backdoor to make SURE that i
could keep everything afloat was that helock, because, Like oh
i'm sitting on top of, THIS sequity i already have.

(01:22:43):
The helock it's. Sitting there i'll use IT if i.

Speaker 2 (01:22:46):
Need it home equity line of credit for this credit.

Speaker 5 (01:22:49):
Which is basically like almost like a, second mortgage but
it's like a revolving credit card thing based on the
only pay of what, you, use right and if you pay,
it back you pay less money. Every month but what happened,
with me they cut, it off and that'll happen with other.
People too so if you get, the helock you can't
guarantee unless you take the. Money out unless you take the,

(01:23:10):
money out and it's in your. Bank, account now if
you're just keeping it into that helock and you're not,
using it they can cut off that helock anytime that
they want to and just, say sorry we don't think
the value home is worth what, it is or hey
you're not employed anymore or, whatever whatever or you're too
leveraged with your credit, cards there just shut it off
and then you have. No.

Speaker 3 (01:23:30):
Money now strategies there like so maybe instead of a
home equity line of credit or you could do a home,
equity loan you don't have plans for, the money but
you can stick that money into, you KNOW a cd
or a high yield savings or something. Like that so
the interest rate Isn't quite you're not going to get
The same you're going to be paying more on your
line of credit or your home, equity loan but you

(01:23:50):
can minimize that by paying that's learning and trun credit you.
Could do you could do a cash out refinance like
all of those would be something where if you're anticipating
troubled waters and you haven't gotten, there yet but you
can see it on, the horizon maybe, this guy like,
the paralegal like he's looking for something else because he
knows maybe his time. Is limited that might be a

(01:24:13):
good time to leverage that. Equity, Position right.

Speaker 5 (01:24:16):
Just yes don't wait until the. Catastrophe happens if you
see it coming or you're afraid it's going, to come
protect yourself and whatever you're going to do.

Speaker 3 (01:24:25):
If You have.

Speaker 5 (01:24:26):
I'm sorry if you have equity and you're not sure
you're going to be able to make your, mortgage payment
do not Go to mike after after you've got to,
do it before you start missing any payments and Talk
to mike right away so that he can help you
or take advantage of that equity play that you've worked

(01:24:47):
really hard for to buy down and watch your house build.
Up value you can ALSO and.

Speaker 3 (01:24:53):
I don't want to this sounds a little doom, and
gloomy like what this topic that we're talking about, Right
now but definitely don't put your head in. The sand
if you have a lot, of equity you. Have options
one of those options is sell your Home, right like
you can sell your homie even if you're not moving
into a new, mortgage Rate, right like if you could

(01:25:14):
sell high and then, buy low and you really think
that that the proverbial s is coming in the fan
is all, coming together whatever, it is, like sell wait for,
the catastrophe and then buy right rent in, The, meantime
like that's a perfectly legitimate strategy if your crystal ball
is telling.

Speaker 5 (01:25:31):
You something there were so many people during the short, Sales,
cycle mike when you weren't here part of, the show
when we were doing like short sales, Like crazy so
many of the people that were doing short sales should have.
Done that they should have, just, said look the. MARKET'S
crashing i got a lot of. EQUITY here i love,
my Home but i'm probably not going to be able to,
keep It and i'm watching the equity get. Stripped, out

(01:25:52):
yeah let me sell the house And then i'm going
to be. A Renter but i'm going to have a
whole boatload of money sitting in my bank, bank Account
and i'm going to wait for the market, to change
And then i'll get back into the Market and i'll
rent for a little while just to save. My equity
if somebody didn't most of the people did not. Do
that it's so hard to do at. The time, but look,

(01:26:13):
crystal ball like we all would have done the exact.
Same thing sell in two thousand and five six and
then it's a six.

Speaker 3 (01:26:25):
Year window, but like how can you. Predict that let's
look at the, bright side the bright side. Of things
if you're a buyer, right now rates have come down, This,
year uh there might be a little bit more easy
on that inventory is such that as, a buyer you
have a lot more negotiating power than you've had. In
years as far as getting the cash, challenge right how

(01:26:48):
much money is required to buy, these homes so getting
either price reductions or seller credits from the sellers getting
a price that's reasonable. For you that may be the
difference between a payment that works in a payment. That
doesn't you can negotiate there the down payment. Assistance programs
although we had to set Back With, hometown heroes there's
other down payment assistants that's. Out there so like the

(01:27:10):
cash hurdle, IS now i would probably say more achievable
than it. Has been and so if you're a buyer
and the inventory is up and you can find a
seller that's willing to work, with you and you can
take advantage of some of, these programs like you can
get in a situation that works. Right now and so
the ONLY question i would be saying, is like is
that going?

Speaker 2 (01:27:28):
To be?

Speaker 3 (01:27:29):
Is that is that a? Now thing or Is THAT
should i be waiting a? Couple MONTHS should i be
waiting FOR the fed to? DO something i, would say,
that's fine you, can wait but you better get ready
to pounce when when it, Presents itself like we've seen
rates dip leading up TO a fed decision and then
slight bump ups or flatness after. The decision so if

(01:27:49):
you want to catch that comment by, the, tail whatever,
you know whatever the analogy you want you got to.
Be ready you need to have talked, To me you
need to be Talking with jim and have an idea
of where you want. To buy what's the price range?
Right now what's the price point where you're going to
make where it works? For you what's the interest rate
in combined with the price point, That works like how

(01:28:11):
much cash you're going, To need like all of that
stuff you can really get out in front of and
then take advantage of it when the opportunity. Presents ITSELF
so i don't know why you wouldn't do that if
you are a, potential buyer if you're a, potential seller
there's no reason to wait.

Speaker 5 (01:28:28):
For, anything yeah you can still sell. YOUR house i
mean we Just sold victor yourself in, eight days right
and got a, you know a very good price that
he was. Very satisfied wastd it. Very quickly so if
you price, it right And and victor's home was not LIKE.
A ToJ. Mahall house it, needed repairs but it had
a lot of nice upgrades to it had a think

(01:28:48):
That tas mahon needs repairs twenty, nineteen roof, you know
and it had good stuff, in there but it also NEEDED.
Some tlc but he was able to move the property.
Right away why because he priced and regular first time
home buyers solve value in, that, Properties, LIKE yeah i
could fix that up and make it worth a, lot
More and i'm happy with THE price. I, got, now

(01:29:10):
hey do you mind if we go ahead and take.

Speaker 2 (01:29:11):
A break sure we can absolutely. DO that I. Believe
jimothy can we?

Speaker 1 (01:29:14):
Do?

Speaker 2 (01:29:14):
That mm we get the blessing. One Too florida Talk
real estate isn't? Dot, COM well i was just seeing
if everyone was paying that That, wasn't yeah they were
ready as a. False Start florida Talk real estate isn't.
Dot com you're one stop real. Estate shop, no it,
use it, love it. Share it We're, on facebook, on YouTube,

(01:29:35):
consume away like and share. There too because you. Never
know you could be putting somebody onto a professional that
can change their life and you can change your. Very
own if you're buying a home selling, a home you're
stuck with, the home you don't know what. To do
if you need professional guidance and something that touches the
world or, real estate well we got it just. For
You florida talkrealestate. Dot Com It's florida Talk. Real estate.

(01:29:56):
Dot com we're back in four minutes abbreviated segment remaining On.
A saturday it's the Eighth. Of november thanks for being
with Us every saturday right Here On. Real radio.

Speaker 1 (01:30:19):
This Is Florida Talk real Estate With jim Depola and.
Johnny c got a question for, the show call us
live at one eight seven seven nine two seven sixty
nine sixty nine.

Speaker 2 (01:30:28):
Eight seven seven nine two seven six nine. Six nine
we Got about we'll call it sixteen minutes remaining On,
this saturday the Eighth. Of November i'm Johnny Se jim
athy's our producer. Of stordinair, so, dude.

Speaker 3 (01:30:43):
Please, good morning thank you for keeping.

Speaker 2 (01:30:49):
That alive it's gonna.

Speaker 3 (01:30:50):
Be amazing once we get the audience to clap prolong,
with us.

Speaker 2 (01:30:54):
That will that will make my heart so happy, right
now like The dot my daughter is the reason it's,
the happiest right That might it takes me to a.
Crazy level everybody listening does it?

Speaker 3 (01:31:07):
With us oh, My goodness i've went in their cars
out there going hands free for, a moment.

Speaker 2 (01:31:11):
You, Know, second yeah just, live life be, with us.
Be Present Mike row he's The mortgage day From. The mortgagraw.
He's present that, Was, me hello very present here as
well On a saturday As rossymern Net's With. Bright Winter
Sure's juno, beach here he's. Right there if you don't,
believe me check us Out on. Facebook YouTube we're. Live
streaming you can see faces on the screen. Right there

(01:31:33):
we do That. Every Saturday even Jim And de polo's
face is on. A screen he's run a Top Producer
keller williams team for thirteen plus years now At The
Florida home Pros With. Kellerwilliams innovations, What's up Jimmy, D
hey i'm.

Speaker 5 (01:31:43):
Doing good i'm. Doing, GOOD hey i just saw this
just a. Second ago Carl. From ireland haven't talked to
him in. A while he just put out, some stuff
so he's listening to Us in ireland. Right. Now nice
we are Live, on iHeartRadio so you could listen to
us anywhere in the world live and turns into podcasts
after the Other thing i'm, Concerned, about johnny you said
we have sixteen. Minutes left i've only got thirteen minutes

(01:32:06):
to show.

Speaker 3 (01:32:07):
Prep left oh we could Talk, about carl like if
you could be if you're. A seller that could be your, future,
too RIGHT so i moved.

Speaker 5 (01:32:15):
To, Your, DREAM like i can't believe that you're saying
that's with the segment we're talking, about now who's leaving
and who's who's Coming. In florida that's so funny that
you Mentioned that carl decided to Leave lake worth and Move,
to ireland, and uh it's kind. Of similar and there
were a couple, of articles so, you know with that
whole mayor race Up In, New york i've been working

(01:32:39):
With Several new york people Lately Excuse, new yorkers and
they all were saying to me for a couple. Of, months,
now oh If that, madamie wins, you know everybody's going
to Move, to florida and the Prices in florida just going.

Speaker 3 (01:32:56):
To skyrocket ask you, A, question jim because you've been
paying attention to politics for a. Long time is it
a recent development that people will threaten to leave the
country or leave their place if the other. Guy wins
the other?

Speaker 2 (01:33:11):
Guy wins?

Speaker 3 (01:33:12):
What like were they doing that In The carter.

Speaker 5 (01:33:15):
Rail not Carter rekn but, you KNOW when i, REMEMBER
it i remember It During bush bush w not The
First bush bush W and clinton the second Time. And,
OBAMA okay i don't know where people Were saying, i'm
moving but what they were saying, Back then i'm moving

(01:33:35):
out of. The country it wasn't but not Moving From
new York, To florida Florida, to california something similar like you,
know this people would say that they were moving out of.
The country, very obviously very few.

Speaker 3 (01:33:48):
They doing that back in the, you KNOW the. FDR
days i DON'T even i don't even remember when. It,
started yeah we're not leaving. The country the country is.

Speaker 2 (01:34:01):
Leaving you.

Speaker 5 (01:34:03):
So there is this, you know there's this thing. Going
on everybody's thinking that because of the, mayor election that
we're going to see All These new yorkers coming down here,
like crazy, and uh the fact is is that some
local realtors are already saying that They're seeing mike even

(01:34:24):
said that he has Somebody From new york that is
coming down here. Right Now and i'm sure it's going.
To happen whether it's going to be a flood of
people is, My, question like is it really going to
make any kind. Of impact i'm sure there's people are
going to move down here because, you know because they're
not happy with. The POLITICS so i was trying to
figure out who are the type of people that are

(01:34:45):
going to move, down here and it's most likely going
to be people who are more concerned, about taxes so
higher income people that that probably is going to happen
where they're Going to they're afraid their tax bill is
going to be even higher than it is now into
Your Because new york is, pretty high and that. They're
worried so we're what you would probably expect is more

(01:35:06):
wealthy individuals or people that are moving down. With businesses
what can the mayor affect?

Speaker 3 (01:35:11):
Tax Wise So New york city. Has taxes if you
live in, the city there's a, city tax so that
there's there's federal, income tax state incometacting city.

Speaker 2 (01:35:27):
Income tax, all right so you work or and or
live in. The city those numbers can be affected by
who's running the city obviously. For sure but working in
the city. Is tough that's hard to change if that's
where your. Employment is but if you live there and you're,
Getting hosed THAT'S what i was reading is more people
were just moving out of, the city moving more INTO
the i guess we'll call it. SUBURBAN areas i don't

(01:35:49):
really know HOW far i have to go for That Upstate.

Speaker 3 (01:35:51):
New york so anywhere outside, The, city yeah they're like,
they're driving they're doing like full on hour long communities.

Speaker 2 (01:35:57):
Or, longer yeah there's that's been going on for a, year,
FOREVER right, I Mean north city's just priced so. MANY
people i, will say like the last time we had
this where it was like a talking POINT, was, Covid
right so we we definitely had Especially In Palm, beach county, You, Know,
Boca boyton, delray areas there was people coming Down From

(01:36:18):
New york city and it seemed like it was more
than more.

Speaker 3 (01:36:21):
Than. Normal RIGHT and i think the the answer to
your question is who's. Doing that it's the people that
can for you KNOW what, i mean for, Whatever reason
like they're either retirement age and looking there like so
they're thinking to come Down to. Florida anyway now there's
an impetus to do it and the ability to, do

(01:36:41):
it so you KNOW what. I mean so it's like
it's something they were planned. DOING anyway i don't know
if anybody who's like, just like oh, MY gosh i
have to go and IT wasn't i was never going
to leave, The city But now i'm leaving.

Speaker 6 (01:36:53):
A speculating like all the you're going to see a
lot of big finance companies moving.

Speaker 3 (01:36:57):
Down, here oh there could be some business that's, been,
happening RIGHT but, i mean isn't that going?

Speaker 5 (01:37:03):
To, accelerate well kind of what's Happening In west palm
specifically And Downtown west pump specifically is all related.

Speaker 3 (01:37:10):
To.

Speaker 5 (01:37:10):
That ross so they're creating what's Called The nora district,
Right Now Northern railroad association, or something and they're doing all.
The stuff they're putting in a. Bright line they are
a stop. Over there they're building all these high rises.
Down there And It's stephen ross From The miami Dolphins
And jeff green and a couple of. Other guys they're
all out there building these big. High rises and.

Speaker 3 (01:37:31):
Does that make up for what's Happening?

Speaker 4 (01:37:33):
With?

Speaker 3 (01:37:33):
Dolphins ross.

Speaker 5 (01:37:36):
And the reason why they're spending all this Money In
west palm is because when they he knows a lot
of Businesses From new york that want to move, down
here but they say that the housing stock doesn't meet
the needs of what the Workers From new. York want
like the executives like the hedge funds people and stuff
like that. They want so what they want is really

(01:37:58):
expensive high rise stuff like that Have In. New york
and that's why they're building all those high rises downtown
because That's What new yorkers like. To have they like
to live. That lifestyle so they're not really going to
be living in locks of hatching and buying an acre
and a quarter and building a big house. Out there
they'd rather have the views and, being downtown a walkability and.

(01:38:18):
All That the Cravi Centered Clemata street.

Speaker 3 (01:38:23):
Roxy trying To Replace. NEW york i don't know if,
It's possible so they're.

Speaker 5 (01:38:29):
Trying that that's what the. Process is so here's what the. Theory,
is supposedly the survey Up In new york is that
twenty five percent of the people said that if a
socialist got elected mayor that they would, consider moving and
nine percent said they were. Definitely moving Of The, new,
yorkers Right so i'll think.

Speaker 2 (01:38:50):
About It.

Speaker 3 (01:38:53):
Nine i'm out. Of here.

Speaker 5 (01:38:54):
I'm gone then on the, flip SIDE and i thought
this was kind, of interesting there was a there WAS
a tv Station in tampa that did a survey of
only a. Thousand, People, Well actually, I'M sorry i take.
This Back Florida atlantic university did this survey of a
thousand people, else, asking Uh asking floridians will they stay

(01:39:18):
here or will? They leave and That If new yorker's
Got More new, yorkers, go no not about anything To Do,
new York. Just florida they're gonna leave or not Leave.
Like Florida because i'm Saying what i've been, saying, is
yeah there's a Lot Of new yorkers, moving in but
there's also a Lot of floridians, moving out and people
don't want to talk. About that they only want to
talk about the people.

Speaker 3 (01:39:38):
Moving in and that that has to do, with, affordability
right that's want. A house i can't buy. A house
WHERE can i buy? A house let me find some
place that's Acceptable A.

Speaker 5 (01:39:47):
Cordon fau maybe we'll try to get this professor on.
The show but According, to fau a growing Number of
floridians are quote seriously considering leaving The Shun sunshine state
over the cost, of living and that they say fifty
three Percent of floridians still believe In the, american dream
but forty two Percent Of american floridians do not believe

(01:40:10):
In the american. Dream anymore they also say they just
think that it's just, not affordable.

Speaker 3 (01:40:18):
And they Mean the american dream of, home Ownership.

Speaker 5 (01:40:22):
Just american dream, in general that you could do better
than the generation, before you and that you can get
the things that you want in life in a, growing
family and all, that affordability all of.

Speaker 2 (01:40:33):
That right.

Speaker 5 (01:40:35):
Ninety percent said they are at least somewhat concerned, about
inflation and eighty percent are concerned about. Housing affordability and
forty three percent of the respondents in this survey said
they live paycheck to paycheck and only forty eight percent
have an emergency fund that can cover at least three months.
Of expenses so there's a Lot of floridians that are

(01:40:57):
saying it's too expensive here to live and they're talking.
About leaving so just as Many As new yorkers want
to come, down here it seems there's a lot of
middle class and Middle class relians and Blue collar floridians who,
are like maybe it's not so great to, live, Here
right and That's what i've. Been seeing i've been seeing

(01:41:19):
seniors Leaving. From florida i'm thinking of them just off
the top of my head, Right now Diane and Muriel.
And arlee there's like a whole bunch. Of people, I'm thinking.
Tom O'Reilly they're all leaving and going out of.

Speaker 3 (01:41:35):
The area but someone's going to buy.

Speaker 5 (01:41:37):
Their house and somebody's finding, their house and just.

Speaker 3 (01:41:40):
Like In, new york. So forever here's my prediction for
every business That Leaves new york and other one's going.
To come. Phillip's, spots yeah but the type.

Speaker 5 (01:41:47):
Of people so if, you're leaving if, you're losing if
you're losing middle, class people but upper income people are coming,
to replace it's going to Totally, transferm florida which IS
what i think this. Trend is i've been saying for.
A while i think that we're going to be more Like,
the hamptons this stuff where you have the workers servicing
the multi millionaires commuting very far to go do, their

(01:42:11):
job and then they leave and it'll be seasonal and
you won't have as many people regular people living. DOWN
here i just think that that's where the trend is going.
Over time i'm not saying in. Five years i'm talking twenty, Thirty,
Years okay i'm not talking about.

Speaker 3 (01:42:26):
All about that twenty, Thirty, years, like yeah it's gonna.
Be cook none of us are going to have, to,
work right and we're gonna have robots doing universal. Basic
income you just need to figure that part, Out right
like what's the level that you? Live with how do?
You earn how do you become a massive earner on universal?
Basic income like what do, you.

Speaker 5 (01:42:44):
Do ask, Ma'am, dommy oh well here's. A, conundrum well
if you want to talk, about this THE whole, ai
thing this IS what i don't get about THE whole.
Ai revolution they're saying that they're going to lose all
these people's, you know all these people are going to,
lose JOBS which. I believe but if there's any people love,
theirs jobs that means our consumers aren't going to have money,

(01:43:05):
to spend which is our whole. Economy exactly so our
consumers are. Our economy so when you take them away
by replacing them, with robots and that the people that
are going to spend stuff don't have any money, to
spend how is that going?

Speaker 2 (01:43:20):
To work.

Speaker 5 (01:43:20):
It's not the whole thing sounds like a big fat
mess that nobody's, thought about forward thinking enough to figure
out we're going to go through a lot.

Speaker 2 (01:43:28):
Of Pain, concert.

Speaker 5 (01:43:31):
Oh they're they're going to concern because the businesses aren't
gonna have anybody buying, their stuff but they're gonna have
all these robots. Making it there's a there's. A plan
i'm sure there's.

Speaker 2 (01:43:40):
A plan we just can't piece of soil.

Speaker 7 (01:43:42):
AND green i think it's soil and green a lot
SLOWER than i think what some. People, predict well you think.

Speaker 3 (01:43:49):
About like everyone in this room has a job that
potentially could be taken OVER. By ai so real estate,
agent yes loan origination and underwriting, and, approving yes insurance
quoting and managing, policies yes content, creation yes like all.
Of it so, YOU know i can't like, your electricians,
Your plumber so maybe you're like your blue collar hands

(01:44:10):
on stuff or just the really creative, you know.

Speaker 5 (01:44:13):
The future trend people say that those are the professions
that are going to be worth so. Much, money, plumbers
electricians all the CONTRACTOR traits.

Speaker 2 (01:44:25):
Ac.

Speaker 5 (01:44:25):
Guys, right still, those yeah they're going to make really
good money later supposedly they're going to be doing. Very
well so if you're.

Speaker 3 (01:44:37):
A, future.

Speaker 5 (01:44:38):
Yeah exactly it wouldn't it be funny if it kind.
Of swapped after all that everybody wanted To be, wall
streeters and later it'll, Be, LIKE hey i want to be.
A plumber i want to be, an electrician RIGHT because
i want to make the. Money. Right right but speaking,
ABOUT affordability i wanted to talk about THIS because i
brought it up TO somebody i was talking to me
when we got. Two Minutes Saint lucy county the highest

(01:45:00):
tax bill in the whole State. Of florida it's been.

Speaker 2 (01:45:03):
Like that for a.

Speaker 3 (01:45:04):
Long time military milit rate.

Speaker 5 (01:45:06):
Rise, two right and the average in the state is
seventeen for the. Milit. Rate right that's the rate that
for every one thousand dollars, that's spent you pay what
twenty two cents or two dollars and TWENTY cents i,
don't remember on every thousand.

Speaker 3 (01:45:22):
Dollars twenty two cents per per thousand value one thousands.

Speaker 5 (01:45:26):
Of right so the thing is is that here's THE
thing i thought was funny. About this channel twelve they
had an interview with one of the county commissioners talking
about why is it so Expensive In Saint? Lucie county
and you know what their, argument was because it's a
higher tax Bill Than. Palm beach it's a higher tax
bill in. The river the reason why they're saying it, is,

(01:45:49):
like well we don't have we don't have the property
Values That palm beach has to mean as far as average.
Property values, i'm, like yeah and you've got two thirds
less people to, serve.

Speaker 3 (01:45:59):
Them pomp THAT'S why i keep pointing out military versus.
Tax bills so the military, is higher but the bill.
Is lower and the reason the bill is lower because
the home values.

Speaker 2 (01:46:06):
Are lower.

Speaker 5 (01:46:07):
That's true but the thing is the home values have
doubled since we had, this show and they don't reduce
their tax bill. At all they keep having the tax
bill goal like they.

Speaker 3 (01:46:16):
Get the money and, they're, like hey what are we
going to do with all? This, money yeah let's put
it into.

Speaker 5 (01:46:20):
The, budget yeah instead of saying lowers slow in The
Tax So Saint lucy county has been famous. For that
they need to get their stuff cleaned up and get.
That time timothy a lower because they're not offering enough
Services To Saint lucy county to make it that high
of a. TAX bill i.

Speaker 3 (01:46:36):
Got rerouted it was headed up on. Ninety five there
was a portion clothed that got re Routed In Port
saint lucy and went over to A place i'd. Never
been but there was a lot of development. Over there
what's that, Area, tradition yeah tradition like a lot of
development and tradition. Like homes look like some of it was,
affordable housing some of it WAS more.

Speaker 7 (01:46:54):
A lot of the Times when i've been talking about
that area blowing, up meanings, you know.

Speaker 2 (01:46:58):
Expandings up that's.

Speaker 6 (01:46:59):
The area and, it's nice a nice building since like
two thousand and five, or something, you know like it's
been going for.

Speaker 2 (01:47:06):
A while.

Speaker 7 (01:47:07):
It's massive and the, problem is and this goes back
to what you, were saying is they didn't put in.
The INFRASTRUCTURE and i think that's part of the reason
why it's so, much higher because they're trying to catch up.

Speaker 2 (01:47:18):
To that or at least that's. MY perception i could
be completely wrong. On that there's. No science and the.

Speaker 5 (01:47:24):
Other thing they have no. Business taxes they don't have
any big business companies.

Speaker 2 (01:47:29):
IN there, i know we gotta we thank you very
much for being with us On. A saturday i Always
Remember florida Talk real estate dot com, no it, use it,
Love It sharing florida and talk real estate, dot com
access to prospros experts in. Their field, one two thank
you for being with us On, a saturday and hopefully
next weekend we'll have full participation on the clap uh

(01:47:49):
and yes we're willing to. Share that if you don't
know quite how to, do it we'll teach You uh,
facebook YouTube. Consume away we'll be Back, Next Saturday florida
Talk real estate right Here On real radio