Shout outs. Interest rates. Economy. Market fluctuation. Home owners insurance

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Episode Transcript

(00:14):
Navigating today's real estate market can betricky. Wanta buyer, Sola house finance,
or insure a house, or stuckwith a house and don't know what
to do. Florida Talk real Estatehas been your local one stop real estate
shop since twenty twelve. Get theadvice you need from your local real estate
pros. Here are your hosts,Jim Depola and Johnny Ce. You live
on real Radio. Yeah, goodSaturday morning till you. Welcome to another

(00:38):
edition of Florida Talk Real Estate.We got you for the next two hours
of infotainment. Pleasure to have youalong. Thanks for being with us in
ninety one one one seven. Wesalute you the old terrestrial radio. Maybe
you're on your free download your iHeartRadioapp that will make your world wide.
That's right, you can get anywherein the in the whole wide world and
tune into two hours of infotainment ona Saturday. And of course we live

(00:59):
stream every Saturday as well. Ifyou're on with us, out the gates,
thank you very much. Otherwise,remember you can always join us live
streaming on Facebook. Florida Talk realEstate on Facebook, find us on YouTube
as well. Florida Talk Real EstateLLC, home of a ton of informational
chunk videos and our live stream everySaturday morning. Of course, you got
a toll free number if you'd liketo be a part of the program with

(01:19):
your questions, comments, concerns inthe world of real estate. You want
to dive into the conversation, dialit up eight seven seven nine two seven
six nine six nine. The firstvoice you'll hear the melodious tones of our
producer at short and Air. Maythe Fourth be with you, my brother
from another mother. May the Fourthbe with you also, my friend.
Good morning, gentlemen, happy tobe here, Pleasure to see you as

(01:40):
always. Let's get our starting lineup. I'm your boy, Johnny C,
your air traffic control. The veryimportant people start with Ross kameronets with Bright
William Shurs, Juneo Beach. Maythe Fourth be with you. We're also
made the Fourth be with you aswell. Pleasure to see as always,
you too, man, you gottaWe got Mike Row, the mortgage guy
from the mortgage firm. He's allstoked about the May fourth celebration room.
He brought your lightsaber with you too. I could I could see it in

(02:01):
your pocket when you first said thatI was like, didn't we just do
this? But then that was fourtwenty, So now it's the fourth maybe
right? Yeah, I guess theygo hand in hand, are I guess?
I'll Why am I connecting those twothings? I don't know why I
don't because they're a global celebration.Okay, yeah, well, I mean
I be the fourth c with you? Well, thank you, my son.

(02:22):
Always nice to see you. Andof course we got Jimmy d Our
fearless leader twelve plus years now.I've told you he runs a top producing
Cali Williams team, the Florida HomePros team at Caller Williams Innovations. Here's
my guy, Jimmy D. JimmyD. May the Fourth be with you?
Hey, hey, may the fourthbe with you? I forgot about
that that day. I know fourtwenty, but not the fourth. You

(02:43):
got to be a somewhat of aStar Wars dork to even like kind of
hang on to it and anticipate it. If you don't have a little bit
of Star Wars dork, you're like, oh, yeah, it's May fourth.
Here, they're actually not connected.I don't know why I made that
connection here. I might confused.Jim here's how bad I was. It
was when Star Wars came out originally, right, I think it was seventy
six or seventy seven, that soundsabout right. I want to say seventy

(03:05):
seven. I was working up inSaint Augustine with my dad, who was
building a project up there for acompany, a bunch of ocean front condos.
So we lived for like three summerson the beach in Saint Augustine.
It was awesome. And I waslike in the seventh through ninth grades or
something. It was awesome, right, And I'd work construction the day and
then go hang out by the beach. And Star Wars came out, Like

(03:28):
talking about well, my dad tookme to Star Wars that my dad took
me to Star Wars downtown in SaintAugustine. They had small theaters, you
know, it's Saint Augustine and seventies, and we watched the whole movie.
And when we were done, Iremember thinking, eh, what, Yeah,
I did not like it. Iwas like it was I just didn't

(03:49):
like it. And you know what, I still watch. I don't watch
most of them anymore. They're allthe same. The plots are over and
over, the same thing. Justgetting so tired. No, I get
tired of it. It's like theMarvel now, the new things, the
Marvel thing, They're all the same, all those plots are the same.
Oh my goodness. Yea, Ihave lost so much respect for And I

(04:11):
used to be avid movie guy.I would go to everything, and I
just got tired of it. It'slike it's just too You're even on the
like you dove in with a NewHope episode four and we're like, wow,
it was groundbreaking, and I wasso they had to invent all of
the technology as they were filming,like they created the technology as it was

(04:35):
happening. I just loved how itwas relatable. They had a trash compactor
in space, right, you rememberthat scene. I enjoyed Spaceballs way more
than Star Trek. Start totally wipedout. Everyone's like, oh now it
doesn't even really matter. Start.I'll take Mail Brooks over George Lucas.

(04:58):
I'll take you, remember did yourdad take you? Guys go to the
movies often like is there another movieyou saw that year? Was like,
oh, then this was amazing becauselast Unicorn he loved it. When did
the Jaws come out? Was thataround around the same time. Oh,
that was I was in eighth grade. That was in the sixth grade,
because that was my first date,the first day I ever took a date
on. It was to the movietheater. I took Cheryl, her name

(05:21):
was Cheryl to the movie theater.And remember the part where the guy,
Richard Dreyfus is underwater and he's divingat this boat that was abandoned, and
then he goes underneath the boat anda guy pops out with his eye with
his eye popped out. No,she got she got so scared that she
threw her arms in the popcorn inthe air and she hit me in the

(05:44):
mouth and I had a bloody lip. Nice never that, it's indelible bloody
list year. What year was that? Oh it sixth grade? Sixth grade,
Yeah kind of, but what yearI don't know. Oh, I
was a freshman and stuff. Twentyseven, So what was a seventy seventy
so a couple of years earlier.Okay, I'm just trying to get in

(06:06):
a night the idea of what Jimwas watching at the time, right,
Like, enjoyed the coolest memory Ihave of Jaws, And I love that
movie. I've seen it a thousandtimes great movie. We got the opportunity,
as did many if they took advantageduring COVID. They actually showed Jaws
in Hard Rock Stadium. We drovein the stadium. They had it all

(06:28):
laid out. Remember they they searchedall the cars for bombs and stuff.
Yeah, in the stadium, parkedon the field watching Jaws on the big
screens. That would be pretty cool. It was awesome. Yeah, cool,
it was really really cool. Youshould do that more often. Like
it was good, and I'm withyou Ross, It's like this shouldn't just
be I think people would soak thisup. And the price point was absolutely

(06:49):
perfect. I wonder how much youcan fit into the stadium, Like how
many were you? A fair amount? Were you parked inside the park on
the field they laid like that thoseplastic connectors down kind of like they went
for like concerts and stuff. Youdon't want to destroy the field, right,
That's what I was wondering. Well, and they designated little parking spaces

(07:10):
and it was still like total distancing. They wouldn't let you get like too
close to each other. Yeah,yeah, which was I mean, it
was like total COVID time. Butyeah, it was. It was freaking
awesome. Figure out how I wouldlove to go to the revenue flowing.
Yeah, but revenue a little opportunityto do some things for folks, you
know, little hope. Yeah.Yeah. Jaws was seventy five and episode

(07:31):
four was seventy seven. Seventy seven. Jaws was seventy five, seventy five.
Oh Jaws, I thought you.I was thinking Star Wars. I
was like, wow, it wasway off. I was like, wow,
okay, cool anyway, happy SouthFlorida, Body Talk Saturday. Yeah,
I love I will admit along thesame lines. When they re released
episode four, right, so thefirst we'll call the first when they really

(07:56):
released it, we uh, Iforget year was but it was a you
know, a group of buddies wentand saw it and we pregamed, and
I fell asleep during the movie.So so it wasn't it wasn't enough to
keep me. You know, itwas a late night one, right,
but you'd seen it probably, yeah, yeah, bunch a bunch yeah.

(08:18):
Yeah. So the novelty was already, but we're all excited to go,
like it was like the buzz aroundeveryone was going. And then right,
see the digital enhancements. Yeah.Yeah, See what I liked about Jaws
was that it was completely different.Genre was like, you know, you
didn't see anything like that except forlike Moby Dick maybe you know when it
was book was written away back inthe day. Oh, totally changed.

(08:41):
So yeah, but anyway made peoplescared to swim in their pool literally.
You know what else probably came outright around that time was Alien. Great
movie, right, seventy eight,seventy nine, Yeah, that was probably
some seventy nine I think. Yeah, great movie. Yeah, great movie,
so good. Yeah, that onewas good. I didn't have a
problem with that. You didn't comeout of that one like ho. I

(09:01):
don't think I didn't like the onesafter it because it was the same thing
over and over again. Yeah,come on, oh great Alien. You
didn't like the world? You know, I didn't even see that one.
Oh you should see after a while. It's just like, okay, whatever,
that'll move on to something on thestory Alien versus Predator. Nah,
I did watch it. I watchedit, but good, just waste of

(09:24):
an hour and a half. Nowyou say, are you saying Aliens,
no Alien? No Alien is thefirst one? Then Aliens you're saying that
one was repetitive, Like, yeah, it was very similar to the first
one. What's kind of the sameissues. Yeah, that's insane. You're
on you're on a stranded ship andsome monsters trying to get you. Okay,
didn't I see that last year?It's like, yeah, yeah,

(09:46):
sorry, guys, it's Romeo andJuliette all over it. I guess I'll
accept your apology. No, I'msaying sorry guys like you guys are sorry.
I'm not apologizing. Oh no,we'll take your apologies. That's fine.
He just hates the standard story,the antagonist and the rebel. Yeah,

(10:09):
different, you like that? Idon't A couple of shout outs wanted
to do. Been a busy coupleof weeks for the Florida Home Pros with
Keller Williams and also everybody else inthis room. Jason. Congratulations to Jason,
his mom. Jason uh is undercontract. Just got through the inspection
yesterday, So we're going to beclosing with Mike and they're going to be

(10:33):
using Ross for the insurance. Nowhere's an interesting thing. Jason came to
us because he needed to buy aplace for his mom, and he had
a budget that was about one hundredthousand dollars more than what we bought the
house for Beau who hears that nowadays? Right, So, and this is

(10:54):
at a very affordable price point becausehe's buying in the threes. So he
got a two bedroom, two bathwith a den that could be converted.
Oh wait, I'm thinking of somebodyelse. Wait, no, two bedroom,
two bath. No, I'm sorry, three bedroom, two bath with
a really nice extended porch. Andhe got that house at the second lowest

(11:16):
price over the last like fourteen monthsfifteen months in that neighborhood. And this
is going to be tying into somethinghappens later. One of the reasons why
we got the property at a verygood price is the market shifting, and
we're going to talk a little bitabout that later because I think people are
going to be a little surprised assome of the indicators and I see that

(11:37):
the marketing in South Florida, notthe national market, is starting to soften
up a little bit, and I'mstarting to see the soft spots spots.
So we're going to talk a littlebit about that. Brian. I wanted
to give a shout out to Brian. Brian, so congratulations to you,
by the way, because I knowyou did some negotiating to get that to
the level that they oh yeah thaton that one. We were going back

(11:58):
about a bunch of times. II don't like talking about the negotiation part
till we close at staff level they'regoing to, but we are going to
be talking about that because I thinkthere's some teachable moments there. Wanted to
give a shout out to Brian,who is former law enforcement and public safety,
so thank you for your service.Brian's hired us to sell his house
in Madison Green in Royal pomp.I'm really looking forward to getting that household.

(12:24):
It's a two bedroom, two bathwith the den. That's what I
was saying before I was getting toconfuse with the other house. It's two
bedroom, two bath with a den, but it's listed on the county records
as a three bedroom, two bath. And later when we sell Brian's house,
I'll explain to you why that iscreated some struggles for him and we're
going to show how we solved itwhen it happens. So that house will

(12:48):
probably be going on the market nextweek. It's a two bedroom, two
bath with the den that could beconverted into the third bedroom. It's got
a really nice screened in back porch. Of course, Madison Green Royal Palm
is a great are right Mike.You live right near there, drive by
it all the time. Yep.It's a really great neighborhood. Great school
systems over there. Depending on whereyou're in the neighborhood, you could walk

(13:09):
to school, depending on which schoolthe kids are going to. And really
looking forward to getting that house onthe market next week. So thank you
Brian for trusting us. And thatwas a referral from Pete Pete Welsh from
Walsh Painting and Contracting. If youever need an excellent contractor give us a
call, we'll get you to Pete. Thank you Pete for doing that.
Also wanted to say a shout outand thank you to John. John's been

(13:31):
a big time listener to show formany many years. His mother recently passed,
so I'm sorry for your loss,but it's time to sell the mom's
condo. There's an estate probate goingon, so they turned to us.
I met with them last Saturday.We took the listing couple of days ago.
We'll be putting that house, thecondo on the market, very very

(13:52):
soon, so I'm looking forward tothat. Also, we have a house
on the market. We put iton the market at about four o'clock in
the afternoon yesterday. This is aproperty in Plantation, Florida, in Brower
County. It's a really nice fourbedroom, two bath, one car garage
with a pool on the lake.Non gated community, no hay fees,

(14:15):
really good central location in Brower County, excellent neighborhood. And we got that
house on the market for six fifty. Now that house would normally be worth
at least eight twenty five to eightfifty, but the house is nineteen seventy
seven. Everything okay, So everything'sfunctioning fine. The roof's okay. The

(14:35):
roof isn't nineteen seventy seven. Theroof's okay. We believe we're going to
have a person come out to doa useful life report. Thank you Ross.
We're going to use one of thepeople that you referred us to and
we're going to see how it goes. I'm sure that will be fine.
But we put it on the marketthree o'clock yesterday. Woke up this morning.
We had three showing requests are readyfor today. Sure, So that

(14:58):
property a lot of people going tolook at it. It's not gonna be
everybody's cup of tea because somebody haveto go there and make it modernized.
Yeah, but somebody that wants todo that. The bones in this neighborhood
is great. You know. It'sfunny when we had the cleaning people and
we got like a got junk companycome out and pull some stuff out,
which I helped the family do becausethis also is in estate sale, so

(15:20):
they're up in New York. SoI'm handling everything formed down here, including
the cleaning people. And we hada tenth the house for termites, and
we had to get a a gotjunk company out to clean everything out.
We did all that, and whatwas really cool was the when the service
workers came in, two or threeof them actually stopped in the middle of

(15:41):
the house and said, this isa really nice layout and so I know
that the house will go. Sowho is this house for? If in
this neighborhood a lot of people arepaying in the high sevens to load to
mid eights, this is a sixfifty, So this is a person that
wants to get into that neighborhood,into that location going to pay lower than

(16:02):
everybody else, but you're going toput the money into it eventually. But
now you'll have like a you know, depending on how much you fix it
up, you could have like abrand new house with a new kitchen,
new bathrooms, new flooring, newpaint, and have it a really great
condition and be what everybody else ispaying for, like resale houses that aren't
brand new everything, right, Sothat's the person that's the value add for

(16:23):
whoever wants to do that. Soit might be a good I would say
two of three K. The pricepoints a little high for that FHA program,
But there's similar conventional loan programs whereyou basically can construction. Yeah,
it's like a remodel type loan,so you have the loan to acquire the
home, and then you have akind of like a second loan, although

(16:44):
they become one at the end,but a second loan for the remodel fee
or the renovation fee. So Ido those types of loans for conventional as
well. So yeah, maybe something. And the trick is usually like,
is the home price sufficiently below itis market value to allow space for those
improvements. Yeah, it sounds likeyou got you one hundred equity. Well,
that's why. That's why I pricedit the way it did. If

(17:07):
I put it up in the sevens, we were thinking it like seven hundred
flat. I feel like at thatpoint price point, there's gonna be a
lot of people out there that couldbuy a house that would be in better
condition, if you will, atthat price point. So I put it
at this lower. I think wemight have a Bitning Warren, it might
go up a little bit. Idon't know. I got my fingers crossed

(17:27):
to do it at six. Wedid six fifty flat. We don't do
the nine nine nine, although Isaw I'm seeing a lot of eight,
one eight eight and five eight eights, I guess, so one eight eight
is I think, if I'm notmistaken, I did this with one couple's
call for Oh yeah, those areone couple I met with. They were

(17:52):
super religious and in their religion Idon't remember religion is one eight eight,
if I'm not mistaken. One eighteight was the symbol for God. So
anytime they wanted it, and itwas during a very this is ten years
ago, twelve years ago when themarket was really bad. So we had
adjust the price a couple of times, and every time we had just the
price. We had to end withone eight to eight in the in the

(18:15):
price, or they were changed theprice in order to make sure there was
a one eight eight in nice.Yeah, so some people like I had
even that lucky stuff. I hada refinance one time. It was way
back, probably ten years ago.I think I remember this well. I
don't know it. It was similarvein, like there was some sort of

(18:36):
weird thing. But she had toclose on a certain date and she was
going through her book and we weretrying to figure out what's a good closed
date for you, and she waskind of like looking at the astrological,
you know, calendar to make sureshe wasn't closing. I remember the words
mercury and retrograde. I can't signcontracts during rectory record retrograd case. I

(18:56):
think Scott was it was a itwas a refin. Yeah, it was
one of our agents went through that. Okay, but maybe it's a thing.
And I don't know if she saidthat or if I twisted that story
in my head or not, butit was something along those lines, right
that she couldn't close and this weekI had to and she's like, oh
no, the week after Yeah,that that Thursday is fine. And then
I was like, yeah, butthen there's a recision period, right,

(19:18):
you have three three three days aftersigning on a cash out to change your
mind, and she and then thatpushed things a little bit. So I
really want to I really want towait three weeks because Saturdays of Sanday.
But these are the things you haveto find early. John, Yeah,
yeah, yeah, yeah, maybemaybe close today, Like what maybe when
we sit down, instead of justasking how much do you on the property,

(19:40):
hold your roofs and stuff, weshould say what's your astrological sign?
Yeah? Okay, great, We'reokay, We're good right now, but
we got three weeks. Something's goinginto retrograde. I wanted to give one
more shout out and then we'll geton to other things. I wanted to
give a shout out to you Go. You guy's been a longtime fan of

(20:00):
the show, and we helped himbuy a restaurant back in the day last
year. Yeah, and I calledhim a couple of months ago. He's
doing on that specifically, he wasdoing so good on that restaurant. I'm
so happy for him. Yeah,that guy is so smart. He knows
nothing about restaurants, So what didhe do when he went in there to

(20:22):
take over a restaurant that's been aroundthirty forty years. So it's like a
breakfast diner up in four Piers.It's called Nicky's and it's been or Mickey's
and it's been around for years.Oh, if you've driven up US one,
yeah you've seen. You've driven rightpast, Yeah, you've seen it.
And the reason why he bought itis that the city is actually trying
to it's grandfathered in to stay,but eventually it's going to have to go.
So really he just bought it forthe land. But he figured,

(20:45):
you know, he thought the restaurantwas going to be a heading, but
the guy sharp. So what hedid was he noticed that there were tons
of employees that work there that hadbeen there slinging the ash forever. Right,
So he sat down with him andhe said, I'd like to keep
you all. What do you needin the restaurant to make it operate more
efficiently? So he bought some equipmentthat they were asking for. He made

(21:07):
sure that all the employees were takingwell care of, right, and he
says he's doing very well on profitin that store. And he really didn't
on that restaurant. He didn't reallythink he'd be making profit on it.
He thought it would be a buyand hold kind of thing and then just
help pay the bills. But it'sdoing better work. Yeah, So it
was established as a pretty good spotto get some grub. What can ruin

(21:29):
it is a staff. It's justnot dependable or not happy to be there.
Good on him to be like,let me make sure my staff just
shines because the food's going to sell. It's we're good. And now they're
just prospering massively because he invested alittle bit to make his people happy.
So now he's onto him. Nowhe goes on to his next adventure,
which I really respect him. Soright now he's selling five vicres to land

(21:53):
in east Fort Pierce. It isn'ttoo far east. It's near US one,
but which makes it very disay well, a lot of these five acre
tracks that are for sale are veryfar west, near the turnpike in ninety
five. This is very close toUS one. It's five acres of land.
We have it on the market forfive point fifty its own residential.
We've had a bunch of calls.We've only had it out this week.

(22:15):
We've had a bunch of phone callson it. David is going to David
Stein, one of the people onour team who also help you Go close
that restaurant deal. I couldn't havedone that without David. David was really
the force behind all that. Hefound the restaurant. Well actually he didn't
find it, you Go found it, but he was able to work it
out on our commercial vision. SoDavid, thank you so much. And

(22:38):
now he's trying to sell the fiveacres of land that you Go wants because
you Go wants to buy another pieceof land somewhere else to do something else
with it. So thank you,you Go for trusting our team to find
your next property and to sell theproperty you got right now. So thank
you so much. Yeah, ifyou're looking for a team or remember you
have a team of pros pros atone spot beautiful, the one stop real

(23:00):
estate shop, it's Florida Talkrealestate dotCom. Florida talkreal Estate dot com.
Find us on Facebook and YouTube aswell. The socials are available for you,
but Florida talkre Estate dot Com isyour one stop real estate shop.
Access to the entire team prospros.Get them all at Florida talkre estate dot
Com. You know, you know, I've been talking about how South Florida

(23:21):
is going in Florida in general,but South Florida's specifically is going through all
this demographic changes and everything. We'vebeen talking about that. One of the
other changes in Florida is like,you know, we're the golf capital in
the world. You know, yes, that's what they're thinking, but we
have so many empty golf courses moreand more. And the reason capital where
the selfish capital there. We gotthe croquet capital here in about that one,

(23:44):
yeahque what else? Well yeah,uh we're cleaning the highlight. See
you guys talk about that. Thisis what I say when we're in the
capital world. Mortgage fraud, insurancefraud, identity fraud going down. Well
we're gonna talk about that too.But uh but yeah, so so Florida

(24:04):
you know, has always been knownas a golf state, and it still
is, don't get me wrong,but a lot of golf courses have shut
down over the years and they're justdormant and they're just laying there. Some
of them are totally overgrown. Somegolfers have switched I think their pastime now
is hanging out on corners and overbridges just waving flags. Well they're saying
that, they're saying that the morning. Yeah, I didn't know this.

(24:26):
That there's less golfers than never before. There's just not as many people golfing
now. And there was a bitever, Huh maybe since like Tiger was
young. What do you mean lesspeople Tiger was coming up golfing. Oh
that became the big surge. Yeah, maybe we're going back to the normal
levels. If if I understanding whatMike said, I kind of get back

(24:47):
to before that. But what's happenedis is Margate now is another city that
has agreed to convert a golf courseinto townhomes. They're building one hundred through
two townhomes on this golf course inMargate. It was a very controversial decision
every time these things come up withwhatever city it is. Because I remember

(25:07):
selling a house about five years agofor a couple they moved to Central Florida.
I don't remember the name, I'msorry, but their backyard was a
golf course that was dormant and theywere gonna you know, there was talk
that they're going to turn into development. And then the people that bought to
be on the golf course, liketo have the golf course in their backyard.
They feel like their property values arebeing damaged, so they would go

(25:30):
to the city saying, don't approvethis project. You're hurting us. But
it becomes to me looking at fromthe outside, I understand and I feel
their pain because they bought something.Now it's changed and it's out of their
control. But at the same time, do you really want to follow,
you know, an empty golf coursein your backyard that nobody's using. It's

(25:52):
just growing and growing and growing.That can't be a good value either,
right, a defunct golf course inyour backyard. So anyway, Margate decided
to go forward with this project.The mayor voted against it, saying that
he felt that we need more greenspace and that this is just taking away
more green space from from the county. I don't kind of agree with that

(26:12):
part. It only because it's soexpensive to keep a golf course going.
A lot of water is used forgolf courses. That's one of the reasons
why golf courses haven't been well.It's popular that golf course that one in
particular, just stop making money,right, so they there's tons of them
happening all over and it's been goingon for years. A year and Johnny

(26:34):
lived near one. They converted itinto uh Veterans Park. Yeah, I
was gonna say, what they shoulddo is just convert them into more usable
SERI used to be a golf course. I mean not fars. I didn't
know that. Oh yeah, usedto be a golf course and all around
Commons has the space for it too. I mean they just used its usable

(26:56):
space. Now they have the Fizsbygolf course for sure, but yeah,
they could convert that in the usablespace and if the community embraces it,
it's wonderful versus just nothingness. Yeahyeah, I think so too. I
think they have to convert and useit for something. I think you have
to consider housing as well. Imean there's just housing we needed so yeah,
we needed so bad. So Ijust thought that was kind of interesting.

(27:18):
Before we take the break, Iwant to wrap up with City Place.
So this is what reminded me membersCity Place the Square Square Yeah yeah,
yeah, get it right. Theonly other company or or brand I
know that it's changed their names morethan us. They still didn't beat us,
but they're closed right, they've hadthree names. I've had more than

(27:40):
three names. Okay, So nowit's called City Place. It rolled back
to City Place. It's officially Rossdecided. Stephen Ross decided to bring it
back to City Place. So itstarted off the City Place. Then they
changed it to Rosemary Square, thenthey changed it to the Square, and
now it's back to City Place again. So back to City Place. Also

(28:03):
because I always called it City Place. It before it was City Place,
it was Slump. I covered itall the time as a reporter, so
that whole area. That's why I'mkind of excited in a way about what's
happening over there because they're putting anotherthree hundred million dollars into City Place right
now. Stephen Ross is uh,they took out the Comedy Club. Not
too happy about that because I lovethe Improv over there, but I think

(28:25):
that's moving out closer to you,Mike, that improve. But they tore
down the Improv and something else,and now they're putting in a mixed use
tower and they're continuing to expand CityPlace, which I think is, you
know, an excellent idea. Andwhat they did, Mike was is back
in the day they eminent domained awhole big chunk of land over there that

(28:45):
was very blighted and very rough,rough, high crime area, and then
they turned into City Place and allaround City Place, you'd be in City
Place. And when it was firstbuilt, brand new, shiny, everything
was great, go a block away, you know, you didn't know what
was going to happen. Right now, it's a couple of blocks away.
Yeah, it's a couple of blocks. That's how it was. We first

(29:06):
we first moved here, and thetwo thousand and five and so City Place
was there, and it was itwas kind of like a spot to go
hang out. But I remember,like, you know, one block outside
of it, and you're like,whoa this, Yeah, don't don't stay
right in here. Yeah, right, I drove down. Oh, I
can't believe. I can't remember thename of the street because it's so famous
for being on a high crime streets. So you take up Tamar, thank

(29:30):
you, thank you. It's likeTamaron, thank you. You're right,
it was one hundred percent of Tamar. But I drove there recently. Now,
I was a cry reporter. Ihave to go there all the time,
right, I haven't been up therereally to drive all the Tamarin in
a long time. But when Iwent up there, it's still super rough.

(29:51):
There are a lot of rough lookingpeople over there that when you're driving
through that neighborhood, you're hoping,please don't have a stoplight, please stop,
because you don't know what's going tohappen over there. So it's still
kind of rough over there. Sothis expansion that they're doing, I like
the idea of it in the CityPlace. I didn't know that. Yeah,
I hadn't heard that. So it'sall City Place again, and uh,

(30:14):
I'm happy because I never changed it. I've called a city Place ever
since. I hate it when peoplecorrected me too. Now it's called the
Square. It's for you, foryou. So there's something hundreds of million
dollars in there. It's going tocontinue to grow. The reason why they're
bringing it back to City Place isthey say that is the best description of
what this area is. It's aplace where you could live, work,

(30:36):
and play and enjoy all in onespot. And that's why they decided to
go back to City Place. Sogood luck with that. And some of
the websites were never even updated,so they're fine. They never yeah,
they never even the County site,like finally, yeah, just kind of
cycled through. You're like, lookat that, get that old letterhead back
and play. Sometimes problems just resolvethemselves. Do nothing works out eventually iron

(31:03):
itself out. The only other thingthat reminds me too of all the name
changes, especially being in this businessall these years. Right now it's I
think Financial Amphitheater. How many thingshave how many sponsorships have they gone through
over there? Of course Dolphin Stadiumas well. Hard Rock stuck pretty good
though for a while. But Robbieright didn't the Heat the Heat the Heat

(31:25):
stadium that changed name that's changed acouple a couple of times recently because and
again I can't remember the old one, but they went with the X T
S or F T X and thatthat you know, Amering, you know
where the Panthers play. That's gonethrough a couple of sponsors. It's a
different when it's a sponsorship. Itis funny what what you choose to call

(31:47):
it? Like, that's B,B and T for me. Yeah,
it's Coral Sky. I'm sorry,I think it's always the sky will forever
be Cols guy. Wasn't it thesound advice? I mean we can keep
going. It's Candlestick and Joe Robbie. Yeah, Candlestick still stands. I

(32:07):
remember when it's across the street.I think it's a parking lot now.
But still with before Daniel Snyder boughtat the time was the Redskins. It
was Jack Kent Cook owned that team, and they built the stadium and we
called it it was Jack Kent CookStadium, right, we called it the
Cookery. And you know, soI'm trying to think, like when did

(32:30):
they start naming? Yeah, whendid they start? It was r K
before before the yeah, yeah,yeah, old r f K stag.
Wow, So what point did theystart? Did they face somebody figured out
they could sell the sponsorship, right, make some make some good money.
I'm sure it wasn't Al Davis orJerry Jones type. That was like boys

(32:51):
put a sticker on that. Itwas. It was when they built it,
when they built that right from thebeginning. Okay, ye, pretty
well, yeah, we speaking ofwhich I just and we won't stay on.
You see, Chicago's building a newone, new stadium too, right
right across the street from where theold one is, and they're gonna make
that a museum. The field.They're gonna have a couple of different things

(33:12):
there and they're gonna make open upfield, the Soldier Field. They're gonna
take one end is gonna have abig museum and where the two big pillars
are right now, they're gonna remainand have do some interactive type of stuff
in there, and then they're gonnaput like ball fields and stuff like that.
What is now the current field andthe big the biggest problem that right

(33:32):
now that people are saying is there'sgonna be a problem with parking. But
because now it doesn't look like they'rereally addressing that too too. Just the
stadium. Yeah you can do thattoo. Yeah, it's right right there
on the water. So but itlooks a lot like so far the inside
but beautiful looks like can't please everybodyall the time now, And I understand
it's probably me just longing for thedays of past, Like you can't let

(33:57):
that historic building go now. They'regonna be so happy with new digs then
and now it's all about like theexperience of attending the game as opposed to
like, I dude, we're goingto go to so yeah, Soldier Field
and watch the package and play andso I actually, uh, here's a
quick little story about Soldiersfield. Imoved to Streeter, Illinois when I was

(34:17):
twenty. I spent my twenty firstbirthday in Wyoming. Me and my buddy
drove to Illinois from California with mydog, and I lasted. We picked.
We were either gonna go to Spokane, Washington, where my dude's grandparents
lived on the lake right where itcomes to Fort Pierce, Florida, where
my grandparents lived. Buddy Streeter,Illinois, who just lied through his teeth

(34:39):
and he's like, man, yougotta love it here. And we chose.
We chose poorly. I last Illinois. I lasted like three months.
His first words when we got outof the truck, I'm sorry, I
lied to you guys. How wasthe trip? You like the snow?
I'm sorry I lied to you guys. I knew so close to Chicago was
is a Streeter Streeter's probably hour anda half, two hours from Chicago,

(35:04):
maybe ish. The closest town isPeoria. What was he saying? What
was he telling you that there's everythingto do? You guys are gonna love
it. It's in it. Wewhen we got there, when we were
driving. So you go to Iowa, Nebraska, so there's small fields.
You're like, I can't even tell. We changed states. That's where we
were in Straighter. It was justlike beanfields, cornfields. I got a
job washing dishes, and people arelike, that's a great job. I

(35:24):
was like, the job myself theworst. You're lucky. So three months
months was it? So I spentmy twenty first in uh you went?
So I spent my twenty first ina strip club called the Lamp Ladder in
straight Or, Illinois. We didNew Year's Eve in Wyoming. So we

(35:45):
left January first, really, Imean December thirty first, and what's that
tal you in Wyoming is more exciting. Yeah, and then I lasted three
months. So my birthday is inFebruary. I think we're out of there.
Yeah. The worst month's winter winterthat was. But it was just
was just the worst decision, justin all. So me and my dog,

(36:07):
right, we got to get backhome. My great grandmother sends me
left. I was getting were gonnaget three months. Yeah. My dude
stayed there for another He ended up. That's he's with his wife and kids.
Like he he found a life thathe moved to California. They're totally
different Storry. So we me andmy dog were jumping on this plane and
as we're going to the airport,my dude's like, let's just swing by
a Soldier Field. I was like, all right, let's do that.

(36:30):
As we pull into Soldier Field,there's a big like gate tunnel and it's
open and there's nobody there, andwe see the field. We're like,
well, let's go. I mean, what's what's gonna happen. Shot,
We are on the field, thereis nobody there. My dog's running a
muck on this field. My dogactually took that like last p in Chicago,
right about where Walter Payton broke therushing record, Okay, right about,

(36:53):
and I still have this hunk ofbluegrass. I took a big chunk
of the Chicago blue in the endzone. Now it's this small, little
petrified hunka just blue, but Iknow that's Soldier Field glass. It was
really cool. It's pretty cool.It's not good. It's gone now.
I mean, it's not gonna bethere anymore. But when I was on

(37:14):
that field, you could feel thehistory, Like as you're walking through,
you're like, my gosh, it'sthick in here, and I'm not a
fan. Screw the Bears. Ihope they never win a game. Sorry,
but it was like, Wow,this is amazing in here, and
it's gonna change. It's smart,Yeah it is. It sucks getting old
and watching things change, watching thingschange, and then you feel like you're

(37:37):
like you're talking like your parents usedto do twenty years ago and everything.
So my buddy is a big Bearsfan. He's like, man, that's
like right where Walter broke the record. I was like, that's a cool
thing, Walter. Now, youcan't have nostalgia if everything stays the same
all the time. I guess youknow. It's a great point, and

(37:57):
everybody loves nostalgia. Yeah. Sure, let's see no break. Let's go
ahead and take the break on theflip side. What we're going to talk
about is is we're going to talkabout letters that are people getting in the
mail, ross about switching over thedepopulation letters. There is a really good
article in the Sentinel about a personthat went through this and over several months,

(38:19):
got several letters and it was veryconfusing to them and each letter was
a little different. So I thoughtit'd be interesting to get you to interpret
a little bit about it, tounderstand how it works in the real world,
and because a lot of the thingshe was confused about you've already talked
about on our show. And theother thing we're going to talk about with
Ross on the flip side is mysay Florida Home home Hardening program. I

(38:40):
think that we should start talking aboutthat because the market is going to be
changing. I think some people aregoing to want to stay in their house
longer, and because of that,I think this home heartening program might be
beneficial to certain people. So we'regoing to talk about that too. Excellent
lots of valuable information. Of course, you're always welcome to dive in questions
concerns you want to get involved withthe conversation. I'll give you that toll

(39:02):
free number eight seven seven nine twoseven six nine six nine if you want
to dial up now. It's aquick formatute break. We will get to
your phone call. Of course,if you're not comfortable on the radio,
always remember Florida Talkrealestate dot com.You got a hotline eight eight eight nine
seven three seven eight to eight.You'll find that number at Florida Talkreestate dot
com. You're one stop real estateshop. You get all the pros prospros

(39:24):
at Florida Talkreestate dot com. We'reback and form mean it's great to have
you with us every Saturday Florida Talkreal Estate. We're right here on Real
Radio. This is Florida Talk realEstate with Jim Dapola and Johnny C.

(39:50):
Got a question for the show.Call us live at one eight seven seven
nine two seven sixty nine sixty nine. You can dial it eight seven seven
nine two seven six nine six andthat's toll for you. You want to
be a part of the program,You're more than welcome on this Saturday morning.
I'm your boy, Johnny C.Jimothy is our producer oft Short and
Air. What's up my dude?Hello, Hello, and good morning gentlemen.
Happy Saturday. Yeah, same toyou, my friend, little SunFest

(40:13):
weekend. No radio representing out there. If you're out and about, make
sure you swing by and say happen. I think Franny's gonna be out there.
You said she should be out therefrom three to five. She's gonna
be out there in a couple ofdifferent capacities, of course, with not
only real Radio, but with aJason with the morning show for w kg
R. So the Gator will beout there repping excellent. Nice to hear.
I'm sure lots of folks will besoaking that up this weekend. If

(40:35):
you're not Coachball on the radio.Always remember Florida Talk real Estate is a
dot com. You're once not realestate shop. You get the entire team
like rosskameronets with Bright, Wayne Insurance, Geno Beach. What's up, my
dude? Not a whole lot.Not going to SunFest. No, not
happening. Well, May the fourthbe with you? Yeah, thank you,
you too. If you go toFlorida talkreal Estate dot com, you
can find Mike Rowth, the mortgageguy from the mortgage firm. That's right,
good morning, Good Morning's probably notgonna make it for SunFest either,

(41:00):
although we thought about going last nightbecause what was Shaggy and Nelly? Shaggy
and Nelly nice, which you knowI both throw back a little bit for
us. Yeah, you know,put us in there, Jim. I
don't know if you know any Ihave sha you do I have Shaggy in
my my music list was to callit. Yeah, yeah, I'm see

(41:22):
Nelly open for Janet Jackson at CORLScott. Oh, wow, Cools,
it's gonna be awesome. Exactly.There's Jimmy d He's our fearless leader twelve
plus years now. I've told youhe runs a top producing Kellowilliams him Florida
home pros at Keller Williams Innovations.Shaggy, how you be? I'm doing
all right, I'm doing all rightand South Florida Day and uh, I

(41:44):
want to start off with citizens insurance, which always was fun to talk about.
Right, So, Ross, Ihave this article in the Sunset and
only came out it was actually likea letter to the editor kind of thing.
No, actually it was an articlemake up your mind, Jim April
twenty ninth, Right, So it'sa recent thing. This guy wrote a

(42:05):
letter. They wrote, they didan article about this guy that got a
series of letters to depopulate. So, Ross, can you just give us
just a very quick definition of depopulationso that people know what we're talking about.
Right, So, citizens, whenthey were created, they were created
to be the insurer of last resort. But over the last four or five
years, due to everything that's happened, rate increases and everything, citizens can

(42:30):
only increase their rates by a certainamount. Everybody else can increase them whatever
they want. So because of that, Citizens became the largest policy holder in
the state of Florida. And whatthey did is is they allow other carriers
to come in and look at theirbook of business and say, hey,

(42:51):
we'll take that one. We'll takethat one, we'll take that one,
and then they tell Citizens, Okay, here's what we'd be you know,
here's the premium that we would charge. And if that premium is within twenty
percent of the expected Citizens renewal,then it'll you have to move. You
have to move. But if it'snot within twenty percent, they'll still send

(43:15):
you a letter saying, hey,you have received an offer of coverage from
a private carrier. You can makea decision. Here's the offers. It
could be more than one. Andthen it tells you what their premium is,
and then it tells you what theexpected Citizens premium is, and then
it says, hey, you needto choose one. It's not automatic that

(43:36):
you're going to stay with Citizens.If you don't choose, we're going to
make the decision for you, whichis often yeah, we're going to put
you over. Yeah. So that'skind of this is kind of what this
guy bless you, This is kindof what this homeowner went through. So
what happened was he got a letterin August of last year saying that citizens

(43:58):
informed him that this new insurance companycalled Slide, which I didn't know was
connected to the other insurance company thatI had a lawsuit with. I'm not
going to mention it right now,but I was pretty I was like,
that's disappointing that this company is connectedto the other rebranding. It's the same
CEO that opened up a different companiessupposedly, I don't know why, Probably

(44:20):
because I took over Saint John's.When Saint John's went out of business,
Slide took over all their posts.Okay. Is that like the equivalent of
like a you know, seat geekand Ticketmaster where they're like, it's not
us, it's yeah, exact,I don't know, it's not Master.
But so he gets this letter statingthat this newly formed company submitted an offer

(44:44):
to take off take over this homeowner'sinsurance policy. This is August twenty sixth
last year. The letter told thehomeowner, this is an important, important
choice, but this one needs tobe made quickly. By October fifth,
if you do not respond, theswitch will be made automatically to go from
Citizens to Slide. Right. Thenit added that he would be switched to

(45:07):
Slide on October seventeenth if he didnot proactively respond to what you know,
to what was going on. Andit does say it doesn't say in the
letter though, that if you're belowtwenty percent difference between citizens and a private
company. The letter did not statethat according to the article, right,

(45:27):
and he felt like it should have. He said it was confusing, right.
So then the second letter came outin December. Now he was supposed
to have this taken care of byOctober seventeenth, right, But in September
they got another letter, and thisletter said you have a takeout offer from
Slide, but this time that theprices were different than what they had back

(45:50):
in August. So this time itsays that the Citizens Insurance policy was two
hundred and ninety nine dollars higher thanthe August letter. I can understand,
and that to a certain extent becauseus because there's rate increases out of the
year, right, right, SoI agree with that, right, But
this guy was just confusing to him. So now went up two hundred and
ninety nine dollars and then the slidepremium dropped by one hundred and seventy six,

(46:14):
so the difference was twenty point ninepercent, right, So it was
above that twenty percent marker. Sohe had his choice of what he wanted
to do. He could stay orhe could go, right, and then
I don't know why he now.The thing that's weird about this is that
they started this in October of twentytwenty three. His policy wasn't set to

(46:37):
renew until May twenty twenty four,right, so that that isn't unusual to
have like nine months. So whathappens is, okay, let's say that.
Okay, he has to. It'sa mandatory right, nothing changes until
the renewal. So they're letting youknow, like, hey, here is

(47:00):
what's going to happen at your renewal. Okay. So the way I've always
interpreted, and tell me if I'mwrong, is when that change happens,
if you make a claim, it'sthrough the new it is. Otherwise your
policy is still through citizens until therenewal, but any claim is going to
go through the new company, correct, But no changes to your like when

(47:21):
you see that premium, people aregoing my premiums now that No, it's
not that anything that's going to happenis going to happen at your renewal,
and it could be. I mean, it's got to be. At least
they have to give you a nonrenewal notice, meaning they have to give
you one hundred and twenty days.So they have to give you twenty days

(47:43):
to me, that far out okayfor them to process. That's interesting to
know. So what you just said, Johnny, So if you had a
claim, let's say you're so ifyou get out from your you get depopped,
right, you have citizens, theydepop you to slide. You're like,
okay, it's in the margin.You're now, but your policy doesn't
for four months. Your policy doesn'trenew for five more months. If you

(48:04):
if we get a hurricane, youget a claim, a claim actually goes
to slide your new carrier, eventhough your policy is with citizens, it's
just it's in this transition and eventhough you could renew with anybody you want.
Well, so basically when it happened, the new carrier assumes that policy
and the responsibilities at that point.Right, So anything any anything, any

(48:34):
claims that's that new carrier's responsibility,right, even though I might not even
renew with them when the policy absolutelyokay, So they basically take over the
policy in anticipation of getting quick pickingup next year's policy. Interesting, I
didn't know that part is instantly offof citizens coffers. So if you a

(48:55):
claim, you called citizens, they'dbe like, here's the number you need
to call, right, you're goingto get all once you get once you're
depopulated, you're getting additional note documentary. But yeah, I mean that's if
it's if it's if you're going,if it's mandatory that you're going, pretty
much you can't go back to citizens, right, And if you're being depopulated

(49:17):
and you're already with citizens, chancesare there's not another carrier out there,
so you know that carrier is probablygoing to be your carrier next year too.
One of the things I wanted tomention in the article. I don't
want to get into it too much, but they did talk about what would
happen if you were in that transitionand you had a claim, and there's
a certain date that they tell thehomeowner if the claim happens before this data

(49:39):
goes with this company, if ithappens after this data goes with that company.
That's the assumption date. So that'swhat that carrier would take over.
Okay, So then what happened withthis guy? So because he was at
twenty point nine percent, he decidedthat he was going to take Citizens,
right, So he took Citizens andhe ended up paying less. He ended

(50:00):
up paying more than his original letterin August, but less than he paid
and was offered in December for theCitizen's policy right. Just to make it
more confusing, Yeah, then afterthen after he signed up, Then after
he signed up, let me seehold on here. Then after he signed
up, he got another letter theweek that he was going into effect with

(50:22):
Citizens saying that Slide was offering himanother depopulation letter, and this time it
was less than the twenty percent,but he had already signed up with the
Citizens right. So on this oneit said that again they've said that we're

(50:42):
going to switch you over if youdon't make a decision. And let me
see, how did it end upwith this guy? This guy ended up
staying with Citizens for right now,but he said it was very confusing and
he felt like all the letters weren'tgiving him all his rights, like explaining
everything each letter. It would almostlook like to him like the first couple
of letters are really trying to pushhim over to slide no matter what,

(51:06):
even though that they were a twentypercent more than a twenty percent gap in
between the two. I know,comprehension isn't in everybody's wheelhouse, but those
letters are pretty I've seen them.I've gotten they're pretty well spelled out.
But I get comprehension isn't strong points. So you felt like you understood it
pretty well, Yeah, you justhave to read it and if you don't
understand it, read it again.Yeah. And if you don't understand it,

(51:29):
Pig of the phone will be like, hey, Ross, so what
the heck does this mean? Yeah? I feel like it's it's pretty cut
and dry. I mean it's ifthen you go, here's your choices.
You got to decide. I meanit's by this date. Yeah. Sometimes
I think I've seen them too,Ross, where it's not like you have
to decide. It's like, here'sjust an option, right, Am I

(51:51):
wrong? Well you always have todecide? Okay? Well, I mean
if it's mandatory, you don't haveto, right, it's for you.
If it's mandatory. You don't haveto decide. That's what you could decide
not to decide. So if youhave the option to stay with Citizens,
then you have to make a choice, right Like, if you've received a

(52:13):
letter that says, hey, youhave the optionist day with Citizens and you
don't want your premium to increase,then you have to make a decision.
But then there's sometimes where they theoffer is less and so you're automatically moved
over it less premium. The otherthing that he brought up that I thought
was kind of interesting. So let'ssay that when he got the original letter

(52:36):
in August and he was his policywasn't going to end until the next May.
If he mentioned in the article thatif he had signed up with the
slide company, the company between Augustand May may jack up their prices.
You know, just normal stuff,right, but they may increase their prices.
So then that might change the twentypercent thing, and he might have

(52:59):
been better off staying with Citizens forprice purposes. Well, I mean,
you can it. So if youdo get that renewal, let's say they
said, hey, our expected renewalsfour thousand, and you're expected renewal with
Citizens it's thirty five hundred. Okay, well that's twenty ounce more than right,
that's whatever, right, And thenthe renewal comes in and it's forty

(53:20):
five hundred, fifty five hundred,okay, right, all right, now
Citizens is thirty five hundred. Youcan go back. You can. Oh,
you can do that. So onceyou leave, if they raise their
prices as citizens within that twenty percent, then you can go back. As
long as as long as the citizenspremium apples to apples cover all the coverages
have to match. As long asthe Citizens premium is whatever greater than twenty

(53:45):
percent less, then you can goback to Citizens. So Johnny had the
best advice about all of this.When you get the letter in the mail,
you read it very careful, nowdone, Yeah, you read it
very later, and then when youdon't understand it, you pick up the
phone and you call Ross. That'swhat you do. Okay. So we
got the plan. Are cal Ross? Okay, Cal Ross? And the

(54:08):
easiest way to do that is togo to floridatalkreal estate dot com. You
can call eight eight eight nine seventhree seven eight two eight, but Florida
Talk real Estate dot com is yourhub, your one stop real Estate shop.
You get all the pros like Rossand marionnets with bright Watersurance, you
know, beach at Florida Talk realEstate dot Com. Thank you, and
now I want to switch over tothe my Safe Florida Home program. There's

(54:36):
some things I don't like about thisprogram. It's for people that are thinking
there. Mike and I have gonethrough this. So we've had customers that
went and used this program to geteither a new roof or impact windows or
something to make their house home,you know, better for hurricanes. But
then they go to sell the houseand they think that they can just take

(54:59):
the cost and roll it over tothe buyer, right, So like they're
on a payment plan and they're saying, hey, i've paid six months of
this plan of this four year plan. Mister buy er, you take over
the cost when you buy the house. But Mike, can you do that?
So I don't want to confuse thetwo things. So like if you

(55:19):
do the pace style lending, sothe property assessed clean energy, that's where
you get a loan to do improvementslike this could be really any improvements,
but typically like energy or home hardening, and then that loan is paid that
you're getting a loan to do that, but it's paid back through the property
appraiser, right, so it's justkind of it's part of your property tax

(55:39):
bill. So I think that's differentthan the home hardening. It is.
It is different than the stay floora home. Okay, but yeah,
so the answer to if you havethe pay style lean paceleans, if the
buyer of your home, maybe weshould back up. If you have a
PACE loan on your property and yougo to sell it, you got to

(56:00):
pay it off, can't. Youcan't just transfer the balance over to the
new bar unless it's like a cashbuyer, right. They could potentially you
could say, hey, listen,I got this loan and put the new
roof on. It's paying back overthe next you know, ten years.
You can assume this loan, right, And then of course the buyer would
have to agree to that. Butif it was a cash deal, that's
possible, right Fanny Freddie Fhava,don't don't allow it. So with the

(56:23):
home hardening, I mean, Icall it home harding. I'm sorry.
My Safe Florida Home program. Thatprogram I thought was just a different name
for PACE, but it is not. It's a different appro completely different it's
a it's a grant. It's astate funded you know, state government funded.
Second, I get not even asecond because it's not it's not a

(56:44):
loan right alone. They just giveit so it doesn't have to be repaid.
That scenario is one that you wouldn'tpay back unless you sold the home,
kind of like a second. Well, you don't have to pull money
out of your pocket. It's justa grant. I don't think it stays
attached. You think it's repayable.You get depending on what you have to
give them a bill what you're doing, and then you pay a certain amount

(57:06):
and they give you a grant upto a max. I think the max
is ten thousand. But you're notputting on a roof for ten thousand.
No, it's a huge chunks awesome. It's it's a good program for people
that need it. But can youcan you transfer that grant over Mike?
But well you're not. You're nottransferring. It's just money. It's basically

(57:29):
you going to the state say hey, or the state has a program that
I mean, we'll just use anew roof. Hey, you want to
put on a new roof because yourroof doesn't qualify for a certain credit.
If you put up five grand,we'll just give you a check for ten
for your new roof. See youlater. There's no there's no you don't
have to pay it back. Yeah, there's no linking, there's no doesn't

(57:52):
get attached to title in any way. You know, it's just hey,
here's a check. So it's justfinancial qualification essentially, is that there's no
qualification other than it's an improvement thathas to be under the category. And
they'll give you two dollars for everyone dollar you contribute up to ten.
So if you if you can basicallydo a five sorry, a fifteen dollars

(58:16):
project for five grant, as justnoticed, and you have to use one
of their contractors. To use theircontractors, you get, they'll they'll send
an inspector out to do a winmid Basically, the items that you're talking
about are things that are on thewind mit Yeah. So the you know,
the wind Mitigation Report is a reportthat allows you to qualify for discounts

(58:38):
on the wind portion of the premium. And so it's a you know,
seven or eight question multiple choice questionnaireand depending on what is chosen is a
degree of discount. So what theygo is they do the report and they
go, hey, you could makethis better and get this discount. You
know, oftentimes it's going to beyou know, shutters or impact windows because

(59:01):
most of the time everybody has thekind of normal discounts. You know,
if you have clips you can upgradeor toenails or clips you can upgrade to
single wraps. You know, youcan get the money for that. I
think the big things things are lookingat is roofs yeah, and windows and
doors. Yeah, Like those arethe big ticket items that probably are above

(59:22):
that fifteen thousand dollars price point.But you could put in you know,
ten thousand and get a twenty thousanddollars project done. You could put in
twenty thousand and get a thirty thousanddollars project done. You know. So
it's all about hardening though, it'snot about making it more like green or
efficient. It's about hardening. Yeah. And the PACE stuff that Jim kind

(59:43):
of was talking about and not confusingthe tube, but maybe melding them is
like the pace stuff is qualifying improvementsfor home hardening and or energy efficient improvement.
So it almost could be anything likethe couple that called in a couple
of weeks ago and was talking aboutthe hardy plank siding. Right that might
that would probably be something that willqualify under PACE financing, but not so

(01:00:07):
much under the my Safe Florida hunt. Interesting. Yeah, and Rick had
called us a couple of weeks ago. I don't know if it was last
week or the week before he usedthe MYCE safe Florida program, remember,
because he said he couldn't be thecontractor. Yeah, I think that was
last week he called and reminded us. He I think his story what he
had been in the in the queueso to speak, right, he had

(01:00:28):
done his application, was waiting andhe finally got notification that he was going
to be approved. So that's thething I want to tell everybody is that
these applications start your lie first,but you should start getting ready and get
this stuff together now so you canbe the first in line. So let
me it's a quote thing. Letme, let me. Let me just
break down on the application part.So we're gonna what's going to happen is

(01:00:49):
I didn't realize they were doing this. They're going to have different segments of
homeowners and they're going to start withcertain type of homeowners first and then go
down the list until they sent itout mail. Huh are they sent it
out mail? I don't know,because I've gotten mail about it recently.
Yeah, it's interesting when you readit like that's it seems like a weird
thing to advertise, But I thinkit's a smart thing. I think what
they're trying to do is they're tryingto show everybody up so that if we

(01:01:10):
get the big one, that asmany houses are protected as best can be
with the older age home I thinkit's a smart idea in the long run
with you, but this is howthey're going to break it down, guys,
So just keep this in mind.The first group of people that are
going to be allowed to apply,and this is for the first two weeks
of July, are people that aresixty and over and have a low income.

(01:01:32):
Right there's if anybody's interested about theincome stuff, I can send you
this stuff in the mail. Thesecond group is going to be two weeks
later, and it's going to below income homeowners of any age. So
the first one is going to besixty and over. The second group is
low income any age. Then itbecomes moderate income sixteen over for two weeks,

(01:01:54):
then the next two weeks is goingto be moderate income homeowners of any
age, and then whatever left overafter August thirtieth, they're going to let
everybody else apply at that point.So if this program I think in real
life talking to people, the people, I think this will affect the best

(01:02:15):
in the most positive way. Orthe seniors that are on a budget.
I know it's always tough when asenior on a budget, on a fixed
income is trying to replace a roof, it becomes very difficult for them sometimes.
Goodness, but this can really helpout a lot to get an extra
ten thousand to help do the roof. Anybody on a budget, right,
anybody the budget? Yeah, butso this program is coming out again.

(01:02:37):
It's a really good program if youneed it. So if you need more
information on it, give me acall, you know from the Florida talkrealestate
dot com. Just give me acall and I'll get you as much information
as I can. Yeah, reachout on Facebook. And this is just
a really good public service program that'sout there. So anybody that needs it,
you should take advantage of it whenyou can. But there are going

(01:02:59):
to be deadline for us, sobe paying attention. I do have a
question on this ross. Okay,So remember that house I told you that
night I talked about the Plantation home. It's built in nineteen seventy seven.
Has no hurricane protection on it atall? Right, if it had a
good roof and the garage door wasokay? Right? And I don't know

(01:03:24):
if I'm probably sure isn't strapped totoday's codes because there was built in seventy
seven. Are they going to getcreamed the new homeowner? Will they get
creamed for not having any protection onthe house whatsoever? Like, what will
happen in that kind of case?When you say protection, what are you
saying? It has windows and that'sit. There's nothing on them, there's

(01:03:45):
no panel. Whenever you ask mefor a quote, I never quote with
opening protection. None of my quotehave to You don't have to tell the
insurance provider that whether they have panelson it or not, or impact or
anything. You don't have to tellthem that they do. But that's just
a discount that's hard to get.So we like if you say, that's

(01:04:05):
what I'm saying. So so ifwhen you whenever you've asked me for a
quote, I've never added hurricane shutterimpact window or any any opening protection discount
unless it's on the wind mitigation report. If it if it's listed on there,
if you send me a win metand it's on there. Yeah,
So when we do the original quotes, you do it assuming that they don't

(01:04:27):
have anything. And then if wego into contract and then they go and
use you, then you're going toget the win mint You're going to see
what protections they have and then startgiving the discount. Yeah. So,
I mean that's like one of thebiggest misconceptions that I hear, like among
realtors is oh, this doesn't haveany any protection. What does that mean?

(01:04:48):
And they'll say, well, thisdoesn't have any protection, it's not
worth getting a win mitigation report.Oh no, you still do the win
mitigation right, But so if itdoesn't and then but your question was like
are they is it going to beso high because they don't have to protection
and it's like, well, whatare you talking about protection? You know,
And some people will say I don'teven want to get a wind mitigation

(01:05:09):
report because it's got original windows.It's like, well that's not what the
wind mitigate you know. That's justone question and when you ask me for
a quote, I don't even quotewith it. You know, in my
quotes, if I don't have awind mitigation report in front of me,
I list the additional discounts available,and one of them is hurricane shutter slash
opening protection discount. Is the isthe quote that Jim is getting from you?

(01:05:31):
Are you? Are you making noassumptions about the windmth at all?
As you said the one. Sowe see you know a million wind myths,
right, and they're all pretty muchthe same. You know, there's
a few outliers with toenails, youknow, where there's no discounts that you
see maybe twice a year with zerodiscounts. So we quote when you just

(01:05:57):
say, hey, can I geta quote, and you don't send me
a win met, we're gonna we'regonna quote with what we normally see on
the reports, which is that theroof was put on after March of two
thousand and two, that you know, the wood decking is whatever, whatever
the thickness is with the eight Dnail space six inches in the field and

(01:06:19):
six inches on the edge. We'regoing to quote with single wraps. We
normally see single wraps even though wetalk about hurricane strapping, and we normally
see them strapped, and then whateverthe shape of the roof is, of
course we can see that from youknow, looking at it. And then
the next one is the secondary waterbarrier. We don't quote with that until

(01:06:40):
we see it on the report,and we don't quote with the hurricane shutters.
That's really interesting to know. Ididn't know that you didn't assume that
automatically. Yeah, because because youknow, I'm sure there's a lot of
agents that do you know, oh, here's a quote with max discounts because
they're worried about scaring you away witha big right real. And so then
then okay, hey, Jim,I just sent you a quote for one

(01:07:02):
thousand dollars. You sent me awin mitigation report. Now it's two thousand.
You know, like thanks, yeah, yeah, you know, hey,
this is going to go down right. No, it's actually no,
because I quoted you with stuff thatyou probably aren't going to you know,
I would rather be the guy thatwhen he gets the wind mitigation report goes,

(01:07:23):
oh, dude, check this out. You're now qualifying for opening protection.
Now instead of the quote being twothousand, now it's fifteen hundred bucks,
right exactly. I'd rather much ratherbe over conservative and then come back
and scale it back. Yeah.I mean, it's just like in Mike's
world when people are going, hey, they're quoting insurance at one hundred bucks
a month just so he can geta nice you know, hud out or

(01:07:44):
whatever to show a low payment,and then when the numbers come in,
you know, that's when the repentsthe road, right, So you want
to be a little bit you know, although you just did say policy could
go from two thousand to fifteen hundredwith the opening protection. So can I
get a quote like that? Fifteenis that you buy a small condo?

(01:08:08):
Yeah, let's go ahead. Idon't know if we should take the break
or not. Let's let's go aheadand take the break. On the flip
side, we're gonna switch over toMike. What we're gonna be talking about
is the interest rates. There wasa big employment report that came out yesterday
that's really going to affect us,I think. And the third thing we're
going to talk about is this reportfrom redfin that kinda is stealing the thunder

(01:08:33):
that I had last week about thatthings are really listen to our show.
Yeah, I mean, mister Redfin, whoever you are, you're listening to
our show. So we're gonna betalking about what's happening in the South.
Well, actually in the Florida marketfor real estate. Is it as strong
as everybody saying? Or is thisstarting to get weak? And we're going
to talk about that. And Ithink Jerome Paul was listening to our show

(01:08:56):
because he specifically talked about stack flation, jem I know he mentioned specifically.
Yeah, so we'll talk a littlebit about stagflation, just because I brought
it up in twenty eighteen, becausebecause a time it's a broken clock.
I mean a broken clock is righttwice a year, right, so or
twice a day last week too,That's what I'm saying. Yeah, But
he listened. He was like,let me address this talk about statflation.

(01:09:20):
We got to knock this out,so on to a four minute reset.
We started out lotsing it into valuableinformation. And you're always welcome eight seven
seven nine two seven six nine sixnine if you'd like to be in a
moment, a fleeting moment of radiostardom, you're more than welcome to jump
in and soak it up. Ofcourse, if you're not comfortable on the

(01:09:42):
radio, believe me, I totallyunderstand. I hope to one day be
comfortable myself. That's why I preferto go to Florida talkreal Estate dot com.
You get the whole team, prosprosall at the one stop real estate
shop that is Florida Talkrealestate dot Com. Forming a break, We're back at
it. Thanks for being with usevery Saturday, Florida Talk real Estate Right
now on Rail Radio. This isFlorida Talk real Estate with Jim Depola and

(01:10:17):
Johnny C. Got a question forthe show, Call us live at one
eight seven seven nine two seven sixtynine sixty nine. It is eight seven
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the conversation if you have a question, comment, concern, don't be shy.
You want to be involved with theconversation. You're more than welcome.
Always remember Florida talkreal Estate dot Com. For those of you that are not

(01:10:40):
comfortable on the radio, that's yourone stop real estate shop, prospros,
Florida talkreal Estate dot Com. I'mJohnny C. Jimithy is our producer at
Shortinair what's up my brother? Hello? Hello, and happy Saturday, my
friend. We got Rosky marionuts withus bright Wing Insurance. You know,
Beech, how you doing wrong?You know that's right? Man to see
as always. Mike Rouse here too, he's the mortgage guy from the mortgage

(01:11:01):
firm. Hello. Mind. Ohyeah, but we found out last week
that you're in how many states nowyou can do you can do mortgages?
And how many states now? Uh? Yeah, yeah, state all state?
Right, I have to count ofFlorida, Georgia, Tennessee, South

(01:11:21):
Carolina, Virginia, Colorado, sixstates. If we did find out that,
you're like, hey, every timeI get a chance to do it,
I just yeah, if you're movingout of state and you want a
loan originator, because the thing isabout loans, like it applies everywhere,
there's some little things that may belocal specific. You know. I have
to like say, well, ifyou're coming to Florida with an out of

(01:11:43):
state lender, there may be somethings that they don't know if you're not
like operating in Florida. But Ithink actually Florida is probably one of the
more the more difficult, right,Like you just have to know certain things
that it relates to condos, asit relates to insurance quotes, wind mits
and all that stuff. I thinkthe rest of the country is easier than
Florida, a little more streamlined.Yeah. Yeah, so if you're if

(01:12:04):
you could do well here in Florida, you should be able to you know,
know the rules. But the rulesare generally universal, right, like
they apply for whatever state you're buying. Yeah, you just got to do
a little educating about the state andget yourself as versus as you are in
Florida. You're ready, guess Yeah. Yeah. How long does a state
class take in order to get licensein the state. It's usually like an
eight hour Yeah, you've already donelike your federal testing and education requirements and

(01:12:31):
you do that every year. Soeach state probably requires like an eight hour
course to get like so it's youknow, one day online course. I'm
would ask this question because my wifeasked me. My wife's a huge fan
of everybody on the team. Shehad a chance to wrap her arms around
bike a couple of weeks ago.She's always like, oh, so awesome,
no offense to anybody. Yeah,she loves everybody. But she she

(01:12:51):
asked me, and I was like, I don't know the answer to that.
Do you have to like renew everyyear? Yes, you do,
even in Florida obviously, yeah,yeah, every you have a continuing education.
There's no testing other than within yourcontinuing education. So you have continuing
education requirements for every state that you'reregistered in, and then of course they
have annual fees. Right, Okay, do some of the continual education blend

(01:13:15):
over to other states? Like ifyou take one continued education kid, four
states get knocked out. No,No, you have to do subject that's
usually state specific. I'm trying tothink there might be some states that don't
require it. I forget. That'sinteresting, it is interesting. Usually usually
it is state specific education. Right, So it's like, wait, here's

(01:13:36):
what's happened in Virginia that you needto know about? You know this year
awesome or Florida. But Mike isalso a Tiffany magget is for those that
didn't know, that's right. Ofcourse you know that Jimmy D is what
you do now. Jimmy D iswith us. Of course, he's our
fearless leader. Twelve plus years now. I've told you he runs a top
producing Kellowean team Florida Hall pros Kellow'sinnovations. Who jimm D how you be.

(01:13:59):
I'm doing great. I'm doing great. We're going to go into this
Redfin article because I've been saying forabout a month and a half now or
something that I feel like we're goingthrough a change and I really not backing
away from that right now, eventhough there's nothing out there saying that it's
happening. For sure, we justhad record sales prices. I know,

(01:14:19):
I mentioned that in February we hadthat eleven point three percent increase year over
year in Palm Beach County for singlefamily homes. Broward County was even a
little higher than eleven point three percentyear over year. But I was like,
but also inventory is growing by alot, So I feel like we're
starting to go through a shift,like a change up, and Redfin is

(01:14:43):
starting. And I'm not a bigRedfin believer on everything, but I think
that. But they give you freeinformation, you'll take that. Yeah,
And it kind of falls into linewhat I was saying anyway, So just
three and fourances, i'd say it'snot going to use that. Yeah,
yeah, right, I like theanswers. I'm going to talk about it
but no soon. Is that sobad? Well? I yeah, right

(01:15:05):
exactly. So here's the thing they'resaying that they one of the things that's
true is is that the average dayson market in Florida jumped from twenty four
days on market to fifty seven dayson market in March. Okay, so
from one month to two months.Yeah, we went from one month average
to two month average for the averageperson, average house to go under contract,

(01:15:29):
not closed, just going to contract. From the day to put it
on the market, it goes undercontract. And now we're only up to
fifty seven days now. I've beenin markets where it's been three hundred days
on average on market, depending onthe neighborhood. And I've been in markets
where it was literally seven days onmarket and it's gone fifty seven. Is
kind of like the average, likenot a good market, bad market.

(01:15:54):
Before everybody's so used to everything happeningso fast because it's been like that for
so many years that they don't realizelike sixty days on market is like not
a bad time. That's still aseller mark, it's still yeah, but
we I really think we're starting toslow slide into a buyer's market. Remember
I mentioned last week where Jason boughthis property in Port Saint Lucy. Really

(01:16:19):
nice community, gated, low HOAfees. Houses are in great condition.
The communities, you know, niceand tight. There's no They take care
of the grounds and the common areas. They make sure all the homeowners are
doing what they're supposed to be doing. Really great little community. I actually
shouldn't call it little. It's agigantic community. But there's twenty one houses

(01:16:41):
for sale over there, and manyof them are on the market way more
than sixty days, right, andthey're just not selling and they're priced right,
So how could that be? Icalled up all the agents. The
neighborhood is so slow that a bunchof the a I used to do this.
If I had to, I wouldget the other brokerages together and do

(01:17:01):
like a mass over an open housefor the neighborhood to get as many people
out there. They're doing that whilewe were trying to find our property over
there. So those homes are goinganywhere from the lowest sale in the last
fourteen months or so, it waslike two ninety and they went all the
way up to I think four twenty, Okay, so there was a big

(01:17:23):
spread but that two ninety was areally big outlier. The four twenties not
so much. And our unit isprobably worth fixed up three seventy five ish,
I'm thinking. And we were ableto get that at basically seventy thousand
below that number. And it's becausethere's just so many houses over there and

(01:17:48):
there's not enough buyers for them.And the other interesting thing I found out
is a lot of the agents toldme that have the houses on the market
out there, that people are comingto see them, they're just turning in
offers. And that's a function ofthe interest rate. People are still looking
because they want to do something,so they figure out I'm going to go
look now, but I'm not goingto buy now because the interest rate's gonna

(01:18:09):
do it. We're gonna talk aboutthat in a second, but this is
what redfin is saying. They're sayingthat Florida real estate struggles as motivated sellers
flood the market. Okay, that'show they describe it. Blood Yeah,
they say it flood the market.Well, you know, to be fair,
Yeah, exactly right. I didn'tthink about that, but think about

(01:18:32):
it. Palm Beach County, wewere down as low as under one month
of inventory, meaning if no oneof the properties came on the market,
to take less than a month tohave zero properties on the market normally as
six months. We went from underone month about eight months ago, nine
months ago to four and a halfmonth's inventory. That's a big junk to

(01:18:55):
go from one month to four anda half months. Were looking for though,
I mean we've been we've been saying. The only thing that's going to
cause prices to stay, you know, either remain flattery, even come down
a little bit, is more invatory. We've got to have more inventory.
So you're right, You're right.It's exactly what we want. It's what
we want it. Yep. Sowhy redfin So Redfin is noticing a couple
of changes in the Florida market.First of all, days on market growing.

(01:19:17):
We've been telling you that for awhile now. But the other thing
is is why they think that we'rein a highly motivated seller's market. Is
that they noticed that of the listingsin Florida, fifty six hundred listings use
the word motivated seller in the description. Right, we just had one where

(01:19:40):
it said motivated seller, bring alloffers. We brought in an offer.
They didn't want It's like, Ididn't mean all the offers, even though
that's what they said. So theother thing that's interested about this whole motivated
seller and public remarks in the listings. A lot of times the sellers have
no idea that the agent put inin there a motivated seller. Believe it

(01:20:00):
or not. It isn't like thesellers are telling the agent put in their
seller motivated. In fact, I'venever heard a buyer a list I've never
heard a homeowner tell me put inthe listing that I want to say that
I'm motivating. I want you toput desperate. Yeah. Right, And
so first of all, I thinkthat's kind of interesting. What that tells

(01:20:24):
me is a lot of times,if my instincts are right, that it
isn't the homeowners that are so freakedout. It's the agent, motivated agents
that want the deal done. It'slike, bring it offers so I can
bring it to the seller. Right. So the first thing is the first
thing is and I had a buyerrecently that saw a listing where it said
motivated seller, bring all offers,and they were like, look the seller

(01:20:47):
saying this, the seller saying this, And I'm like, not necessarily the
seller saying this. This could bethe agent putting that in on their own,
and they do do that. Inever put in motivated seller, say
you could do You can never dothat. Ask your seller how motivated they
are scale of one to ten,and then you put that into the remark.
They're like there seven and a halfmotivation on Jim's motivation scale. Bring

(01:21:12):
your offers accordingly, right, they'reonly they're a ten or they're only a
one. Guys, it just seemslike it makes you weaker in the listing.
I've always said that, even whenI was doing short sales and it
was very hard to sell, Inever went in there and said, you
know, bring all offers or blahblah blah. You know, you know,
I let them bring the offers andthen take them one by one,
and if they're low, they're low. Right. If they're low, then

(01:21:33):
we try to negotiate it. Ifwe can't negotiate it not the right match.
I imagine your approach is something like, listen, guys, here's if
we wanted to sell in this amountof days, we should probably price it
around here. If you're okay,like, let's hold out and get whatever.
We'll price it over here, andwe can expect a little bit longer.
They'll be surprised. Right. Butif you've got to sell it in
thirty days because you got this otherthis other home that you need to buy

(01:21:55):
and all that, we've got toprice it around here. Yeah, move,
we're going to get iles. Ifyou're a seller, you've got to
price it right or you're you're inbig, big trouble. So with this
with Redfinn, they're saying that there'sway more motivated sellers here in Florida than
before. I do believe that.And there was another little news blurb that

(01:22:15):
came out I don't know if itwas last week or this week where I
read we found our first little bubblethat that's popping is Tampa. So Tampa
now is seeing actual month over oryear over your price depreciation where the prices
are lower than they were a yearago, and that's because of the increase

(01:22:36):
in inventory. So that's another signI expect. I expected that exactly what
there are, and I expected thattax wid be a little farther south,
closer to Cape Coral. But Tampais the first one that's showing that it
had negative year over your appreciation.Another sign. I was talking to one

(01:22:59):
of the custom of ours that's goingto be selling a house. They say
that up in O'calla, there's buildersout there building single family homes, very
affordable single family homes. He showedme a really nice four bedroom, two
bath, already built and it's brandnew, which is waiting for an owner.
Three seventeen no quarter acre to acreand a half, three seventeen right

(01:23:23):
for brand new concuch. Well,okall has changed a lot. Have you
been up there lately? Yeah?Have you? Oh, you've probably been
concerts and stuff. Right, Yeah, it's a it has changed a lot,
but it's still a calend it's stillcall Yeah. Okay, I'm not
going to argue that. I'm gonnatry to argue it's like that. I'm
not going to go down there.But that's in that area. The person

(01:23:45):
that's planning on buying up there,a whole bunch, he says, a
whole bunch of single family homes,brand new, just sitting there waiting for
the homeowner. Okay, so we'restarting to see we're starting to see.
Part of it, I think isbuyers are out right now. It's like
crickets chirping to a certain extent.Oh, buyers are not out, they're
on the sideline. Yeah yeah,yeah, Yeah, they're not out in

(01:24:08):
their car. Yeah, they're lookingonline. Out of the game, they're
looking online. I mean, first, I'll tell you what if you are
a buyer, and we've talked aboutwhat's a buyer, right, you know
it makes sense you and your familylifestyle, you you know, you can
there's probably going to be some opportunityhere to take advantage of the things that
you're talking about, right, whichis a little bit easy on the inventory.

(01:24:30):
So more inventory, more choices.You should have a little bit more
power in your offers and negotiations andthings like that. But you know,
we got some things that are comingup. You know, Hometown Heroes is
going to be refunded here on Julyfirst, Right, that money, we
don't know how long it's going tolast, but it's probably one hundred million.
It's probably going to go and tenweeks, right, ten twelve weeks

(01:24:53):
something like that. So there's goingto be if you're a buyer and you're
think about taking advantage of that,there's going to be a lot of other
buyers who are in your shoes andso you really got to be prime.
You can't wait till July, right, Like, as a matter of fact,
if you you could potentially I havepeople who are pre approved need Hometown

(01:25:14):
Heroes. That's that's the program thatthey're going to want to use, and
they're kind of peripherally shopping. Butthey're coming up to the moment now where
you could potentially get into a contractclose you know, second half of July
and do that. But you couldget into we're a little bit far out
now right where yeah, some peoplemight take it. That would be like
a you know, seventy five dayclothes or something like that. It's possible,

(01:25:38):
but I'll tell you what, inthe next month two months for sure,
Like these are those buyers who arewaiting, it's going to be they're
going to come out. So yeah, I guess the point is you have
to be ready to hear. Youhave to be ready. Here's the two
things that I feel like if youreally want to take advantage of today's market,
everybody's trying to talk out of outthinkthe market and everything. If you

(01:25:59):
really wanted to try to do itto get the best results. In my
opinion, I've said this before,as far as the buyers, I feel
like the buyers, many of themwould be better off by if they can
afford it, and it's the rightthing for them to do, and they're
going to stay in the house fora while, right, They're not just
doing it for temporary thing or forshort transition period. Buy the unit,

(01:26:20):
pay the higher interest rate as longas you can afford the house and the
house is a good house for you, and then wait for the market to
shift and then take advantage of themarket, because you're going to be able
to do that. How are yougoing to take advantage of the market.
First of all, when the ratesgo down, we're going to see prices
spike. Okay, you're not goingto go through that because you already bought

(01:26:41):
the house. So it's going tospike past where you started from. Okay,
that's where the spike's going to start. It is from where you started
from, going up. You're notgoing to have to worry about, Oh
the prices are going up, priceto go up. I gotta go find
my house. Now, you alreadybought your house. Now you're watching your
house appreciate, just like everybody house'shouse is appreciate. But you already bought.
Then you wait for the interest ratesto go lower and lower and lower,

(01:27:03):
and then when it gets to thetrough, then you go in and
you refy the house. If itmakes sense, we do the math,
and now you're sitting pretty because youpaid last year's prices. If you will,
you got this year's interest rates.When the rates drop through a refi.
You paid extra for the refi thatyou wouldn't had to if you bought.

(01:27:24):
But the appreciation is going to outstrip, usually far outstrip the cost for
the refi. And for buyers,that's the better move than waiting for the
market to change for the interest rates, because you're not taking advantage. You're
not understanding that when the interest rateschange, the prices are going to be
affected in a negative way to you. So if you can do it,

(01:27:45):
it's always better to do not.I've been saying that for over a year.
I know a lot of people don'twant to hear that, but that's
the real truth. And Susan calledup last week to explain that's exactly what
happened to Susan. Yeah, whenshe bought her house in twenty nineteen.
Now she looks like a genius intwenty twenty five, but in twenty nineteen
people were telling her what the heckyou're doing buying the house? Is house

(01:28:05):
for now? How priceless or pricesare too high? Interest rates is too
high. We've had that, Imean, certain buyers have we have that
type of thought process on it ormentality, which is is just too expensive
right now. Whatever prices are toohigh, rates are too high. I'm
just I'm gonna wait. I'm gonnawait, And that's fine with me as

(01:28:26):
long as you have some idea ofwhat you're waiting for. I don't have
a problem with that thing. Butfor most of the years that we've been
having those types of conversations, they'vebeen wrong, right. And I'm not
saying that guarantee your house is goingto continue to appreciate, guarantee rates are
going to be favorable for refinances.None of that is guaranteed. So you
have to, like step one isyou have to get into a payment that

(01:28:48):
you know you can afford, rightthe house that checks as many boxes as
possible, and the payment that iscomfortable and if it makes it, if
you can get that common I justdon't think there's ever a case where continuing
to rent, and I'm doing likethe rent verse buy but continuing to rent

(01:29:09):
is better than buying, right,And because none of us have crystal balls,
and we're all like we're knee deepin this gym, and you and
I can't tell you what's going tohappen in three months or six months or
a year or five years or tenyears, right, other than probably you're
going to be in good shape atsome point. I mean you're probably likely
you're gonna be really good shape atsome point. Yeah, we're Florida.
We're all about properties, you knowwhat I mean. It's like Florida is

(01:29:30):
different and not all the states,but most of the states, and that
people are more in tune to realestate. Yeah, as a function of
like almost like their income compared toother states. And you might even decide
like, hey, Florida is justnot right for us. We're like,
my job is mobile, my incomeis mobile. We're going over here because
that's fine too, right, becauseyou're seeking out the house that works,

(01:29:53):
the locations that work, and thenumbers that work, that's right, the
things that check the boxes. Yeah, well you line it up. But
now I have a new message.So I've been telling buyers that forever now,
right, you know, sitting onthe sidelines until you're ready, then
make the move because in the longrun, you're gonna look way better off
by doing it this way. Butnow I'm going to be saying something else.

(01:30:14):
If you're thinking of selling in thenext year and you don't have like
a thing like I gotta wait frommy kid to graduate high school next May.
If you gotta wait for that,you gotta wait for that. There
stuff that you can do. Butif you have that flexibility, you're like,
I could move now, but Ithink I'd rather move next year.
You better start thinking about looking atmaybe putting the house on the market earlier

(01:30:38):
than your planning. Because if thismarket does get weak, right, if
we do, if it does getweaker, okay, prices, we're gonna
start seeing Tampa not being in anaberration. It's gonna be the norm and
it's going to slide across and FloridaI think is more prime than that than
some other places. I know peopleare going to argue, yeah, but

(01:31:00):
all the people are coming to Florida. But I'm also arguing, yeah,
but there's a lot of people leavingFlorida too. So if you. At
the same time, the headlines,the headlines forever was Everybody's moving to Florida.
The headlines now are everybody's leaving Florida. Well there, it's kind of
a little bit of bulleth. It'sa little bit of both. All these
you know, all these northerns aremoving to Florida. That makes us strong.

(01:31:23):
And then the undercurrent is all themiddle class people are starting to flee
Florida going to other states, andthey feel with affordability, We're like now
one of the state, one ofthe most expensive states to live in.
Y Just affordability is getting sapped out. And if this inventory continues to grow
and you think that you're a selleris like, oh, I'm going to
throw my house on the market andit's going to have twenty showings and five

(01:31:46):
offers in two days. Have funwith that, because that was a very
unusual market during COVID and we're probablynot going to see that again unless we
have another situation where all the planetsaligned like that again. And I'm not
saying that's a good thing, becauseCOVID wasn't a good thing, but that's
what it's going to take for thatmarket to come back. That was like
a a once probably hopefully soonly wedon't have another pandemic, but once in

(01:32:12):
a lifetime situation that we experienced.So if you're a seller, you better
keep a very clear idea on themarket because the amount of money you're going
to get for your house, itmight be significantly lower if you wait too
long. And we are at awe are at I think now we are
kind of at a peak peak andwe'll see, we'll see if I'm right

(01:32:35):
about it that or not. Nowgetting to that whole thing, Mike,
is we had the unemployment come orjobs report come out this week. Last
week we had that really bad inflationreport. Don't we have to wait till
next month's job report? Get theactual job report? Well, actually last

(01:32:57):
month's job report Ross they were predictingtwo hundred thousand jobs. That reported three
hundred thousand jobs. They you know, they modified it, you know a
month later, three hundred and fifteenthousand jobs. It went up by five
percent. New jobs, Yeah,new jobs, new jobs. Okay,
this is jobs report, not unemployment. So what happened with the jobs report

(01:33:19):
yesterday was we only had one hundredand seventy five thousand jobs. They were
thinking like closer to two hundred.It's the first time that they've been off
the wrong way, or at firsttime in a long time they've been off
the wrong way, maybe a yearand a half. So what we're seeing
is is that less jobs. Lessjobs were filled. The jobs that were

(01:33:39):
filled, ironically usually it's leisure andwhat do you call hospitality service that was
slow, which is telling me thatless people are going out a little bit.
We're also seeing signs that consumer spending'sgoing down a little bit, yep.
And then on you know, andon top of that, the interest

(01:34:01):
rates haven't been very favorable to buyers. Right now, this week we're at
seven point two two guys for FreddyMack. It went up point zero five
from last week. Over the lastfifty two weeks, are low was six
point three five. Remember all thepeople that said that's too damn high,

(01:34:21):
Well, we're half a point abovethat. Now, we're almost a point
above that. Now we're point eightfive above that. And the highest over
the last fifty two weeks was Novemberwhen we hit seven seven nine. So
we're closer to seven seven nine thanwe are six three five right now.
So that I did see though thatthe Treasury bonds dropped after the Freddie Mack

(01:34:46):
report came out. So then Iwas thinking, Mike's way, oh did
the report? Did that report comeout? So did we see prices?
Do we see interest rates scaling downa little bit? Yeah? So this
night, this next Thursday, we'llsee it up. You think we'll see
a drop next not much that it'snot going to be much, but no,
it probably point to point one twoor something. Yeah. If I
were yeah, I went, ifI were predicting Thursday, yeah, I

(01:35:09):
mean, it's harder to predict thatnext Thursday. That's just Thursday. Is
the report for what happened Thursday toThursday. But the FED, the FED
meeting came on Wednesday, right,the press conference and the release and everything
on Wednesday afternoon. So I thinkthe big if you were to summarize what
happened there somehow, and I wassurprised by this. People were expecting possibly

(01:35:29):
a rate hike. So then theheadline became Powell, isn't they're not increasing
the rate. It's like, wellwait a second, that was that was
not in the cards. It's justlike we're not getting the decrease. So
not decreasing the rate either, youknow, maybe to two predicted rate cuts
by the end of the year,which was less than the three that we've

(01:35:50):
been talking about. September, Icould see that changing too, but I
think the story is the same.You know, inflation isn't doing quite what
we wanted to do, so we'regoing to hold our course. We're actually
the other piece of good news wasthe Fed is going to uh reduce the

(01:36:12):
amount of the quantitative their quantitative easy, right, So they're playing in the
bond market, so they're planned onunloading more bonds and so they're they're slowing
down how fast they're unloading those assets. So that was taken as like good
news. And the reason why that'sgood news because that's very wonky for people.
So when they were selling the bonds, apparently when you stop selling the
bonds, the amount of money that'scirculating liquid money is more available than when

(01:36:40):
they do the quantitative tightening. Sonow that they're backing off from the quantitative
tightening a little bit, yeah,it's given them a little room for liquidity
in the market. That's what Iread. Okay, Yeah, so that
would mean that lenders like that,That's what they were writing in the article
that lenders like that liquidity. Yeah, I think it's position and bonds their
positioned in mortgage backed securities, right, So basically the FED is buying it.

(01:37:03):
It's it's strong, and the FEDwas like, we're gonna get out
of that game. So then it, you know, it's indicates some level
of risk. But that report,that report that PAL had, that was
not a good report. Okay,So the reason why I'm saying that Pal
said some things. You know,they're very mysterious with the way they use
their language because they don't want peopleto predict or act on what they think

(01:37:26):
is going to happen. But everybodydoes that anyway. I mean, I'll
tell you what everybody does that.Yeah, he doesn't understand why. He's
got to be super careful because ifhe says the wrong thing, and like,
well, Greenspan was famous for that. Greenspan would sit there and talk
for an hour and a half andyou'd be like, what the heck,
I don't even know if that guywas speaking English right, And he did
it on purpose. He did thaton purpose because he didn't want you to
understand what was happening becaact, didn'twant you better. I know, but

(01:37:49):
so Greenspan was famous for that.But what Pal said. There were two
things that really bothered me about whatPal said. Number one, he said
that inflation is not going down anymore. The way that they were hoping the
trend of it going down is notreliable anymore, so they don't really know
what's going to happen with that.And the other thing that they said was

(01:38:13):
that the future was not was veryHe didn't use these words, but it
was what he meant. The futureis like very unpredictable and we can't discount
any rake heights in the future ifit's needed. Right, we've been talking
about six rate decreases now for howlong since November? Right, none of

(01:38:34):
that happened, and you know,now we're going from that to maybe we
have to break the heights again.So then the media really started Pepperingham during
that interview. Are you gonna raisethe rates? You're going to raise the
rates? And then he finally said, we don't have any plans on raising
the rates right now, and that'swhat got the Wall Street to increase.
Speculators. Yeah, all the speculatorswent up and we had a really strong

(01:38:57):
Wall Street market because he said they'renot raising the rates speculation I mentioned in
the back of his head. He'slike, I would love to increase a
quarter point. I know that's whatI'm thinking. I think the same thing.
It doesn't make sense people, Howare you going to reduce the rates
when we can't control the inflation?And even if we get it to that

(01:39:18):
magical two percent, how long doesit have to stay at two percent before
you feel comfortable to start dropping therates? Right? If you just hit
the two percent and then you drop, I just think we're going to be
in the same mess we're in now. I just don't see how we're getting
out of that, which is whatleads to stagflation. That's what would lead

(01:39:39):
to stagflation. If we get stuckin this rut. You can't raise the
rates, you can't drop the rates. We don't know what he's saying.
The thing that gets glossed over.You mentioned it too, though, the
most valuable piece. We mentioned itlast week. Consumer spending is starting to
slow. That's a good when whenthey first started this, all they're trying
to do is squash the housing market. That's pretty much all they've really affected.

(01:40:00):
I mean vitally right. They mighthave they might have the new car
sales, used car sales. They'vehad some impact there because those those interest
rates have gotten true. The supplychain really squashed a lot of also,
Yeah, it really did. Butas far as the movement from the FED,
I feel like the biggest real accomplishmenthas been the cooling of the housing

(01:40:24):
market. But everything else is contingentupon we the people spending less money.
It's just like it has to happen, and we finally we've finally seen it.
But one month trend, you know, we've got to see this house
three four months in a row andthen we got a trend going which will
be good. And you know,this sounds kind of crazy that we're sitting
here on the radio saying, youknow, we're hoping that consumers spend less

(01:40:46):
and the economy shrinks a little bitso that we can have an inventory increases.
Yeah, it kind of crazy whenyou think about that. Order though,
that coin pick your favorite coin.That flip side is is the businesses
feel that slow down and then you'llstart getting the layoffs right, right,
So will we need that to happen, But that the reaction to that action
is not a positive one, soit can get really messy. It's gonna

(01:41:11):
spend in the right places. There'sgonna be certain people that are gonna get
really screwed up in this economy whenit shifts. It's really gonna hurt them
very, very bad. They're gonnabe people like that. And I know,
yeah, costs of doing business,lender, you know, the cost
of doing business is going to betough. So did you see the headline
on the stagflation though, Jim,I didn't. I don't think it as

(01:41:33):
grump Pal says he, I guessfrustrated with that seven it's like a seventies
you know, thought process. Andhe doesn't see the stag or the flation
and quotes he doesn't see the stagor the flation. So he's saying he
doesn't see it. Jim. Yeah, Well, the problem that he the

(01:41:54):
problem that he has right now.First of all, even if he did
see that, he's not gonna tellus that he saw it. Okay,
it's not saying he didn't see it. May mean that he did see it,
Yeah, that he did see Idon't see anything, right, But
but what I think is I don'tknow how the consumers spending. I agree
with you, Johnny is going tobe the thing. And if consumer spending

(01:42:15):
collapses, I'm not saying just slowsdown. But if it goes too far,
this is what This is what peopleI don't think get. If it
goes too far, we can slideinto a downward spy or pretty quick where
we can slide into that stagflation,and stagflation is no, this is the

(01:42:38):
opposite, right, This is thecrash. Right. This is like the
Mars rover going you know when thatballoon thing going down and crashing into the
thing. Yeah, one of themwasn't was it the Japanese one? One
of them landed and they maybe itwas the Russian one who went there and
it smushed. There was yelling,Oh no, it's startles. It's not

(01:43:00):
a soft landing. Way. Wait, when when a marsre over crashes on
the service of Mars and there's nobodythe hare to hear it, does it?
Does it make a noise everywhere?There's really simple. It's that you
can't have noise unless you have thereceptor. You have something to recept the
noise. No, that's true.And anyway, there's no air there,

(01:43:21):
so there might not be any noise. An atmosphere sure it does. Does
it have an atmosphere? Yeah,I meant getting back, but it has
an atmosphere, It does have something. Total recall was different, definitely,
that was a different right. Yeah, so this economy, that's interesting that

(01:43:41):
that's your philosophy. Yeah, well, if there's nobody there to hear it,
it doesn't exist. Well that's well, it isn't that it doesn't exist
that nobody can hear it. Yeah, if you don't have an ear drum,
you can't hear anything. Right butright, but did it still makes
it sound? Well, it's avibration that isn't being picked up by something,
but it's still a nobody's picking itup. Then it can't be heard.

(01:44:02):
Interesting, So that's what I think. I think you got to have.
You have to have the medium tobe able to hear it. Noboctimless
yeah, victimist victimist sound, victimlesssound. Does that make it a hoax?
Yeah? A witch hunt? Ohit would be a witch hunt.
Okay, yeah, but you knowthis could turn into a stagflation situation.

(01:44:25):
And what does that mean. Thatmeans that, let's say these layoffs get
a little stronger than people were expecting, like the consumer spending starts slowing down
too much. That's the delicate balancethey have here. He want us to
spend but not too much. Notjust layoffs, it's also new hires slowing
They won't right, that's what's goingto happen. So at first they just
won't hire. We're already seeing that. That's why we had the low job

(01:44:48):
jobs report. Yes, or they'resaying less people are eying right now because
there isn't as much demand for it. So the first part is they're just
not going to hire new people.But after a while it's going to be,
hey, we don't need the peoplewe have, and then it's going
to be we're not producing enough,we don't need all these people, and
then they're gonna start laying off.Yeah. So if it keeps doing that,

(01:45:11):
if it becomes a self fulfilled,self fulfilling situation, then it can
get really really bad and we canslide down and it's really hard to get
out. It's like a vortex andonce you get sucked into that circular drain,
it's very hard to pull yourself outof it again. But if it's
all driven by Johnny's point, thedemand, right, So if the demand
dries up. All that's going togo. But where is the demand really

(01:45:32):
going to dry up that much?I don't know. What I'm hoping is
is that certain parts of the demandwill dry up and other parts will stay
solid enough, and that it'll that'llbe the soft landing. Like the real
estate market's got the heck beat outof it in this thing because they can't.
All they have is that blunt weaponof interest rates car industry. You're

(01:45:55):
right, Mike got slammed. Yep, we still had the record high sale
price and you know, Palm BeachCounty, which you know was counterintuitive,
but we're all like, well wheredid that come from? Yeah? You
know, well, uh, demand, who knows? Who the heck knows
demand? Yeah, yeah, it'sreally it's it's a very interesting it's a
very interesting situation we're going through rightnow. And it's fun to watch in

(01:46:19):
a certain part, but it's alsoit's a little scary. And I'm also
seeing a lot of a lot ofagents I know that are not longer agents
anymore, are already happening right andjust have certainly is really scary. We're
always we always fear what we don'tknow the most, and uh and uncertainty
falls into that category. So it'sa it can be a scary time.

(01:46:42):
It just all reinforces what we talkabout all the time, which is like
hard to predict. You can't playthe game. You're just like, we're
not. None of us are sophisticatedenough to like really make the moves that
are going to make huge differences.So you evaluate this thing from a different
perspective, right, and that perspectiveis like we're really we're talking in real
estate. So it's a good timeto buy, it's a good time to

(01:47:03):
sell. What is if it makessense for you, that's right. When
you can find the conditions that workfor you, that's the Holy cow.
You just have no control over it. You can't. You can't. Yeah,
yeah, it's The bottom line isis that if you have any questions
about this, because we know it'svery confusing, we're more than happy to

(01:47:26):
sit down and give you a freeconsultation as to what your best options.
Me and Mike are doing it allthe time now, where we're talking to
people about what's their best option,and sometimes there's no option that's best for
us, it's what's best for thecustomer. We just figure it out.
And uh, they usually walk awayvery satisfied no matter what the answer is
because they know they got real informationthat they can use and don't feel like

(01:47:49):
there's an agenda behind the information they'regetting and where we're really like, we're
really strong in uh telling you whatyour options are right and which could include
like, hey, you don't reallyhave any options right now, so think
about that, and maybe you've gotto do some of this stuff to get

(01:48:09):
into the point where you will haveoptions to position yourself for a option,
yeah, and so you just there'sa lot of mystery to what can you
do even if you wanted to,And so we can answer those questions for
you whether you're on the cell sideor the buy side. Right the sale
side's easy for me because it's likehere's you know, here's that's very easy
to say, here's where you standright now if you want it to sell

(01:48:29):
right now? What if you wantto sell in six months, I don't
know. I can't really tell youwhat it's going to be, but right
now, if you did it,here's what it would look like. Does
that make sense for whatever your nextstep is? Right? And it's that
consultation's easy if you're a buyer.Here's what you can do right now.
You can start being active in themarket if you want to, or you
can decide after you know what youcan or can't do, you can decide
when you want to make that move. So just like those consultations are helpful

(01:48:54):
because you need information to position yourselfone way or the other. Yeah,
absolutely power. I just I knowwe only got like two minutes left.
I just want to say two reallyquick things. I forgot some other shout
outs I just wanted to throw out. We just put a brand new house
on the market. Let me tellyou it's great. It's a three bedroom,
two bath pool home. It's gota new roof, new impact windows,

(01:49:15):
new flooring, new kitchen, newbathroom, new paint, A nice
I mean, it's mac daddy.It's in a great area of Poyton Beach
and we have it on the marketat five seventy five. A three bedroom,
two bath, fully renovated pool homefor under six hundred thousand Palm Beach
Mounting's pretty good. It's that fiveseventy five. If you want to find

(01:49:36):
out about that property, just giveus a call. We'd love to talk
to you about it. Floridatok realestatedot Com. There was one other person
and I can't remember because it justpopped into my head and I can't remember.
Oh, Richard. I wanted tosay, Richard, thank you for
allowing us to We helped short sella house back in only like four years
ago. Is my last short sellI've ever done. I help Richard short

(01:49:58):
sell a property. Then I helpedhim buy a new property, and like
park uses an investment, and nowwe're gonna be selling that property. So
Richard, thank you for hiring usto sell your property. Yeah, fantastic.
We had that music. That meansthat we are officially done with our
two hours of impertainment on a Saturday. We'll get back at it next Saturday.
I see Greek and Joe in thelocker room, or excuse me,

(01:50:20):
in the bullpen. There you gettingready for the locker room. Yeah,
talk a little sports. Got someNBA and NHL playoffs going on, and
I think there's something. There's arace or something going on. Two races
going on this weekend and are kindof important. A little Formula one down
there at hard Rock, and thenof course we got the Derby out in
Kentucky. We don't forget about theSnooker World Championship. Nice wow, nice

(01:50:42):
happening right now. I feel badthat I did forget about that. For
sure to bring that out absolutely athird hour or two. We're getting into
badminton. Since you that, I'llbe a hard rock app. If you
want to put a couple of shekelson it, I'm all about it.
Just go with the favorite, parlaythem together. Surprised I saw pillow fighting

(01:51:03):
on ESPN last weekend. Yeah thatwas am I mean it was on whatever,
one of the regular direct TV ESPNone two, whatever, in that
little porn channel. Maybe on thatYeah, that sounds like a foreign Sorry,
I got a mixed up corn.Corn. We are. We are

(01:51:32):
done with our portion. As always, we thank you very much for being
with us. Always remember Florida Talkreal Estate dot Com. You're one stop
real estate shop. You get allthe pros bros. A team of professionals
at the one stop real estate shopthat is Florida Talk real Estate dot Com.
No what youse it? Love it, share it. You can change
lives with the professionals the Florida Talkreal Estate dot Com. Roster mare nets,

(01:51:53):
bright winter shirts. You know beachevery great weekend. Thank you,
you too, Johnny C and everybodyhere, thank you very much. Would
do my best. Mike Wow,who giggles when I say change lives.
Mortgage guy from the mortgage firm,You don't think you can impact lives like
oh we do. We do allthe time, absolutely passively. Love to
Thanks for having your fingerprints all overit. Thank you. Have a good
weekend. Everyone. Yeah, youdo the same in Jimmy d changing lives.

(01:52:16):
He doesn't giggle, He's like,yeah, facts, we do that.
I just realized I only I havethe wrong lock box on a house.
I gotta go down and take careof it right away since we're done,
ye emergency, add that to thelist. Ye have a great weekend.
Okay, Happy South Florida. Everybody, Thank you, Thank you guys.
Have a great weekend and we willsee you next Saturday. Enjoy your
weekend SunFest whatever you're getting into allthe festivities, and stick around. The

(01:52:40):
locker room is next and we willbe back at it next Saturday. Two
hours of info Tament every Saturday.Right here, it's Florida Talk Real Estate
on Real Radio.