May 13, 2025 • 32 mins
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:04):
It's that time, time, time, time, luck and lude. So
Michael Verie Show is on the air.
Speaker 2 (00:14):
We have had a lot of news this week in
a lot of developments for the Trump White House. The
last known living American hostage in Gaza is set to
be released, progress on trade with China, this ceasefire between
India and Pakistan, and now possible face to face talks
between Zelenski and Kotin for the first time since Russia
invaded Ukraine.
Speaker 3 (00:34):
With every single facet, We're gonna win so much. You
may even get tired.
Speaker 4 (00:39):
Of winning, and you'll say, please, please, it's too much winning.
Speaker 3 (00:44):
We can't take it anymore. This is the president.
Speaker 4 (00:47):
It's too much.
Speaker 5 (00:48):
And I'll say, no, it isn't.
Speaker 6 (00:49):
We have to keep winning. We have to win more.
Speaker 5 (00:52):
We're gonna win more.
Speaker 3 (00:54):
We're gonna win so much.
Speaker 6 (00:58):
No matter what.
Speaker 4 (00:59):
Talking mine old I can now looking enough and every
time I up in the beauning everybody handle.
Speaker 2 (01:07):
It's just awfully good that someone with the temperament of
Donald Trump is not in charge of the law in
our country, because you'd be in.
Speaker 5 (01:15):
Jail and they say that have.
Speaker 4 (01:17):
They they have they day that out.
Speaker 7 (01:19):
Who's the standard line for them? Donald Trump is a
threat to democracy. I'm just the opposite. I'm the one
that fixed our military. I'm the one that knocked out
isis I'm the one I did so much. I also
took a bullet.
Speaker 4 (01:32):
Now they just stated it's just winning baby when it
winging wii wan.
Speaker 5 (01:36):
No matter what got money?
Speaker 4 (01:38):
Oh my monucking now looking it up and.
Speaker 3 (01:41):
Every time I up in the beauded everybody handle the
attacker in Pennsylvania wanted to stop our movement. But the
truth is, the movement has never been about me. It
has always been about you. It's your movement. It's the
biggest movement in the history of our country by far.
Can't you so it can't be stuffed?
Speaker 4 (02:02):
They down down, don't do it if you're going in.
Speaker 5 (02:14):
The interesting thing happening in one of our communities, the
what is being referred to as the region's biggest buyers market.
And of course, you know, a buyer's market is when
(02:37):
sellers are not getting top dollar, but buyers are able
to command the price they want. We've seen buyers markets,
we've seen sellers markets. I sort of equate it to
the stock market, where people will say, you know, we
want stocks to go up. I want stocks to go up,
(03:00):
then you'll make money. But the only people who make
money when stocks go up are people who already own
the stock with a lower basis in the stock. If
you're twenty five years old, just got your first paycheck,
and you want to buy three hundred dollars a month
or the stocks. Let's take a stock that yesterday was
(03:22):
seventy two dollars and today has popped to one hundred.
You're paying more for the same stock that could go
up or down in the future, So up or down,
it's not necessarily overall good or bad. The people who
already own the shares are happy if the values go up,
(03:44):
but only to the extent that they share that they sell.
If I bought at seventy two and it goes up
to one hundred, I just cashed out for twenty eight
in capital gains. Right. But if I'm a buyer and
I had budgeted seventy two dollars for that share, it
goes up to one hundreundred, I'm not able to buy,
So that becomes a seller's market. That means that there
(04:05):
is a creative wealth for shareholders at the price at
which they purchased, but their future purchases become difficult. So
there is this notion I notice floating around that the
stock market going up is a good thing. And part
of that is because you get so many people who
have a four to h one k and they've put
some money into that account every month. They'd like to
(04:27):
see that thing go up so that it can throw
off more cash for their retirement. Fine, but there is
also something to be said for the dips, which is
when smart investors buy. The problem is you don't want to,
they say, ride the dip to the ground. If a
stock is at one hundred and it drops down to sixty,
if it's going to go back to one hundred, you
(04:47):
want to buy. But what if it goes all the
way down to zero, a company goes out of business,
it's delisted. That happens too. The biggest buyer's market in
the real estate region is being described one local source
as Galveston. And why is that Because of the wave
(05:08):
of airbnbs flooding the listings. The average Galveston home now
sits on the market for over five months. As the
beach town shifts into what may be the biggest buyer's
market in the Houston region. The Chronicles. Marissa Luck says
there's a wave of vacation rentals hitting the market thanks
(05:30):
to a surge in short term rental owners looking to
offload their properties. For some, the demands and costs of
operating short term rentals can outweigh the rewards. The number
of homes for sale on Galveston Island has surged forty
two percent in the past year, hitting about one thousand
listings in the first quarter. According to har that's more
(05:53):
than double the number of homes for sale in the
area two years ago, when there were just four hundred
and thirty one homes for sale. Of the supply stems
from investors who purchased during the height of the pandemic. Okay,
so they bought at one hundred right, but not all
got the right advice. The glut of homes for sale
comes at a time of elevated mortgage rates and economic uncertainty,
(06:15):
which have sidelined many buyers. Galveston now has nearly seventeen
months of housing supply, far beyond the four to six
months considered a balanced market, according to Houston Association of Realtors.
Galveston real estate agents say much of today's supply stems
from homes purchased during the height of the pandemic, when
low interest rates and flexible remote work policies made second
(06:39):
homes and vacation rentals more attractive. Buyers were often lured
by the promise of promise of robust rental income, but
not all got the right advice. A house that would
have sold pre COVID for three hundred was selling for
six hundred or seven fifty, said Diane Moore, president of the
Galveston Association of Realtors. At the height of the pandemic,
(07:00):
I watched this happen. I saw homes that were on
the market when COVID hit. I watched those things, SPIKEE
come off the market and increase, Just like the childhood
home of Pope Leo the fourteen. His childhood home was
on the market and it was marketed as you know,
(07:22):
a nice three bedroom, too bad whatever. When he was
announced as the pope that day, the conclave made the decision.
The house was taken off the market for a day
or two and put back on it something like double
the price, because all of a sudden there was it
had something, it had gold dust on it that somebody
would want that as that was the Pope's childhood home.
(07:44):
I watched people flood down. And again this is basic
economics that we talk about all the time. The supply
of homes in Galveston didn't change. The demand increased. So
you look on the curve. When you increase demand without
changing supply, what happened You drive the prices. Now those
people that bought at those high prices trying to get out.
(08:10):
We've talked about concierge medicine recently, and it really is
a market based response. And for some solution to a problem,
eventually the market finds a solution. It might be that
it's stumbling around in the dark looking for a wall
(08:33):
that can push. That's an opening to the light. But
and it won't be available to everyone, and it might
not be cost effective for everyone, might be out of
reach financially. But the market is a problem solver, and
that's what's going to happen.
Speaker 6 (08:50):
Now.
Speaker 5 (08:50):
Not everybody will have their problem solved or to the
extent they want, or it might not be fast enough,
but the market is a problem solver. Let's take a
clearing or the top of the line rolls ross. That
car is not necessarily faster than anything else. It doesn't
necessarily ride better, it doesn't last longer, it doesn't have
(09:13):
some feature that no one else has. It's simply a
status symbol. That is ninety nine percent of the value
of those cars. It's a status symbol. That's why they
have to be designed and contoured in such a way
that they look distinct. Most of the cost of that
vehicle is to say I've got a lot of money. Now,
(09:37):
whether you do or not, whether it's an exotic rental,
whether it's a Ponzi scheme. I've noticed that most people
driving cars like that today are not the fabulously wealthy.
There's some guy that got a rookie contract or some
guy that's playing fast and loose with business principles and
(09:59):
the law, and a lot of those guys go down.
But that's who wants to give off the vibe. It's
very important to give off this vibe. That is a
solution in the marketplace for a certain problem. The problem
being how do I convey the message that I am
fabulously wealthy, because I think that's what that car conveys.
(10:19):
Oh well, here is a car not for the average person.
If it was for the average person, kind of like
the toll road. If everybody could use it, it wouldn't
have the value, it wouldn't have the effectiveness for the user.
So part of the price is in and of itself exclusivity.
The person doesn't want a thirty thousand dollars car. You
(10:41):
pass ten parking lots to get to Tillman's lot at
the post op where you get the Rolls Royce. You
could have purchased a lot of other reasonably priced vehicles
that would do more than what you needed at Lone
Star Chevrolet or any other dealership. So this slet here
(11:01):
is going to be an interesting one because there has
been an attempt in a regulatory fashion to pull back
on the airbnb. And what happened was I know because
I watched a lot of people do this and there's
nothing wrong with it. People think I'm somehow ridiculing them
or taunting them or insulting them. No, I'm repeating what
I watched happen, and they feel indicted by it or
(11:23):
convicted by it, and there's no need to It happens.
We all do it. So here's what happened. You had
a family in Houston living in Briargrove Park. Let's say,
and COVID hits all of a sudden. The kids aren't
going to school and they're driving mama crazy. They're home
all day. The husband's not going to school. He's driving
(11:46):
mama crazy. And because he's at work, everybody has to
be quiet. We've got to you know, he's converted some
room to his office and there's too much noise. And
so her girlfriend says, why won't y'all come down. We
got a place down in Galson. Why won't y'all come
down for a couple of days this weekend. Let Mike
(12:08):
stay there and work, or Bob or Bill or Brian
or whatever his name is, let him stay there and work.
He can come down on Friday when he's done, and
you and the kids come down, and y'all can be
here at the house and give him some space. And
then you know, the kids are going stir crazy. Okay,
then my kids'll house somebody to play with your kids? Okay, yes,
all right. So they go down and she says, you
know this was you say, it's an hour, but if
(12:30):
you if you are west of town, it's more than
an hour. It's going to be up to an hour.
It could be out up to an hour and forty
five minutes top on how far you go down. So
there you are in Galveston, having a nice time. Maybe
see Isle, maybe one of those communities, Jamaica Beach. And
(12:50):
she says, oh man, this would I really like it
done here. Mama can have a drink, sit out and
watch the ocean, the kids play, they get out of
my hair. Oh this is great. Well, honey, we can't
afford a place down here like this. We're already you know,
we're already kind of where we need to be. And
she says, no, that's just it. Julie told me that
(13:11):
we can rent it out when we're not here. Oh no, no, no, no, no,
stand and see it all they take thirty three. No,
you just airbnb it and I can do it, Julie said,
she started doing it. I can do it. I can
airbnb it. That they're telling me, we can pay for
it just the nights were not here. We can pay
(13:34):
for it out of airbnb. So the first one that
went on the market, oh boy, it was probably rented
up every night because now you could rent a house
not didn't have to do it for a month, which
is what you had to do before or just during
the summer. You could do a house for two or
three nights in Jamaica Beach. You couldn't rent in Pirates
Cove that that was different, but in most of those
(13:59):
Spanish I think you could. You could rent it. You
could rent a unit, a house for some period of time, two,
three days, whatever the minimum was. So all of a
sudden people started hearing about that. Well, Julie comes back
and she tells Jennifer. Jennifer tells Amy, and before you
know it, they're going you get you a place in there,
and then our kids can gather. We can gather. We'll
(14:22):
have some rose on the front porch. This will be great.
The husbands stay here at work, they can come down
when they're through. Maybe they come down on Thursday evening.
The thing will pay for itself. I'll do the work. Well,
everybody got that brilliant idea. That's what happened, and then
you had a glut of homes on the airbnb market. Well,
the other down side of that was that if the
(14:45):
people on either side of you had an Airbnb, then
when you were down there, because the point was to
have a weekend home, right, not an investment property. The
airbnb activity was designed to help you pay for it. Well,
now the people on both sides of you and by
you have airbn beat it. Well. Guess what you know.
Those people on the carnival cruise they airbnb. They can
(15:06):
pull together some money. You know the guy that that
you don't want to sit next to at the football
game because he's screaming and drunking all that, Well, they
bring eight folks down to the Airbnb next to you.
I would love to hear from some folks who did,
who ran an Airbnb with your stories in Galuston seven
(15:27):
one three nine nine nine one thousand, seven one three
nine nine nine one thousand. I think that there might.
Speaker 6 (15:31):
Be sause I got nothing going on down there.
Speaker 5 (15:33):
Probably I have heard this in bars, at weddings, bar mitzvahs,
you name it twenty five times, and I never bothered
to learn. Apparently the song is called blue and the
band is Eiffel fifty five. Who knew? Oh sixty five?
(15:55):
Okay five? I mean, don't judge, but I I've always
thought it kind of creates a good vibe at a party.
I just never knew what the darn song was, and
I never knew what I don't know what year it
came out. It just showed up one day, and when
it showed up, it felt like it had been around
for ten years. It's one of those songs that feels
like it was big when ed Sheuran was big, whenever
(16:18):
that was. I don't know when that was. Was that
eight It's sort of like there's years there, like decades.
I don't know what year Lady Gaga came on. Was
it two thousand and two, was it twenty twelve, was
it twenty eighteen. I don't know. It was just somewhere
in that realm where I don't listen to Top forty.
So I just know they are these people that popped up,
(16:39):
and I don't know when they popped up. I don't
know how they popped up. I'm not mad at them
for popping up. I'm not saying you're an idiot for
listening to him. I just don't know. Somebody told me
the other day, Eddie's always trying to get me to
listen to these new country guys. And then I find out,
so Eddie tells me about two or three years ago,
you ever listened to Morgan Wallen? Know who's that?
Speaker 6 (16:59):
Who is she? No?
Speaker 5 (17:00):
No, No, he's got a dude. I can't believe Morgan
Wallen no idea, and I didn't. He was the top
country pop whatever guy and had been for like five
years at that point. By the time I heard a
jelly roll song. I happened to see a video somebody
sent to me, and but for the fact that he's
so fat, I wouldn't have watched it. But he was
(17:23):
so fat and tattoos all over him. I couldn't help
but watch. I couldn't help but watch, And yet he
had the sweetest disposition, and I thought, this guy's been
through something, but he just has It's like he's he's
just been saved, like five minutes ago. He's just been saved.
And he has that look like if you go jelly roll,
(17:45):
this is a great day. It's the greatest day of
your life. You begin living today. Would you like to
go eat at Loubi's? And he has that forever countenance
that it's like, yes, yes, we can eat as f
Hello shit. He kind of has that all the time.
That caught my attention. Other than that, I don't know
any of these people. All right, your Airbnb stories good
(18:09):
and bad. I'm not saying it's all bad. Let's start
with Brandon. Brandon, you're on the Michael Berry Show.
Speaker 8 (18:14):
Go ahead, Good morning, Michael. My name is Brandon McDermott.
I'm actually a city council member in the city of
Jamaica Beach down here in Galaston.
Speaker 5 (18:23):
Aren't you a singer?
Speaker 8 (18:26):
Yes, I do. I am the stener in the brand
mc dermott. And you've played my song quite a few times. Actually, yeah,
you release something.
Speaker 5 (18:33):
The other day. I don't know if it was a
new song you wanted me to. You had a Michael
did you do at Michael Berry Show?
Speaker 8 (18:39):
So I did. We did a Michael Show sorry, Michael
Berry Show jingle a while back back when Obama was president,
and it was kind of a contrasting his presidency with
you keeping everybody saying during.
Speaker 5 (18:55):
It okay, I sent you an email back saying send
me that jingle. Did you send it? Yes, sir, I did.
Speaker 8 (19:01):
It was it was Friday, so oh yeah, but yes, sir,
I did. And I could rescind it.
Speaker 5 (19:05):
If you need it anyway, So go ahead.
Speaker 8 (19:08):
So I actually ran my whole campaign a year ago.
My platform was regulating short terminals in Jamaica. Beach Witch
is the city where I was born and raised and
grew up. As I was growing up, we had probably
artificial data is we had in from nineteen eighty four
to nineteen ninety nine we had about ten STRs. From
(19:28):
two thousand to two thousand and nine we had about
thirty twenty.
Speaker 5 (19:32):
To twenty four. I want to write this down and
for the people at home, and STR is a short
term rental. So used to you had rent monthly. A
short term rental is a whole different ball game because
you could you can run, You can get people that
are holding parties, whereas somebody for a month might be
a snowbird coming down, coming down from the northeast for
our mild winters. All right, so in what year did
(19:53):
y'all have right? Give me those numbers again?
Speaker 8 (19:55):
So in nineteen eighty four to nineteen ninety nine we
had about ten to twelve or terminals. In two thousand
to two thousand and nine we were up to thirty.
In twenty ten to twenty fourteen we were at about
sixty to seventy. Twenty fifteen to twenty nineteen we had
gotten to one hundred and thirty. And then when COVID
(20:16):
hit from twenty twenty to twenty twenty three, we jumped
all the way up to three hundred and seventy.
Speaker 5 (20:21):
How many individuals homes? How many single family homes do
you have?
Speaker 8 (20:25):
There's approximately one thousand to thirteen hundred homes in Jamaica Beach.
Speaker 5 (20:29):
Oh, so you're talking about almost forty You're talking about
between thirty and forty percent of the homes were.
Speaker 8 (20:35):
Correct, and that happened real fast. So it's completely changed
the fabric of our neighborhood. Where we went from a
community of a lot of full timers and a lot
of weekenders who had houses in Jamaica Beach but didn't
necessarily use them during the week or during the winter,
to basically of revolving hotel and it's really just kind
of put the residence on edge, and it's completely changed the.
Speaker 5 (20:57):
Fabric of our neighborhood.
Speaker 8 (20:58):
And even back when short terminals were not so prevalent
in our neighborhood, the Internet changed everything because you used
to have to go through a rental company to rent
the house, so that meant a person physically had to
go pick up a key, meet the person. There was
a rental agency responsible for the behavior of that house.
Now there's you can do everything on the internet. Have
electronic doorlocks. So just this past weekend, there was a
(21:21):
house with probably one hundred, one hundred and fifty kids
renting it for prom that the parents rented it for him,
didn't even come down, just gave the kids the code.
They told everyone on the internet. They threw a giant party,
and you know, the police had to get involved. There's
cars parked up and down every single road, and our
neighborhood just really isn't the same anymore. So, you know,
I ran trying to pass some regulations on that. I
(21:43):
got elected overwhelmingly and we have got a new ordnance
in place. But you know, it's it's there's a lot
that you can't do. You know, there's there's property rights,
which I understand too, I'm a property rights guy, but
the people that live there also have rights to have
a community.
Speaker 5 (21:57):
It's not a hotel. Interesting. So the restrictions that y'all
are trying to narrowly tailor to deal with this problem,
are they noise restrictions, are they on street parking restrictions?
Are they occupancy We're.
Speaker 8 (22:16):
Kind of a wide it's kind of a wide swath
of stuff. Our current ordinance, right now we'd passed to
somewhat limit how many people could stay in a home.
It's very common in Texas to have they call it
two plus two or two plus four, where it's two
plus two is two people for per bedroom plus an
(22:37):
additional two people in the house, so you know, three
bedroom would be two four six plus the additional two,
so you could have eight people stay there. We actually
passed two plus four, which you know, up the number
of people that can stay there to ten. But then
we added another thing where you would divide the square
foot of the house by one fifty and whichever was
(22:59):
less is how you decided who was in there. But
it averages out to about ten people per three bedroom
or twelve per per four bedroom or something like that,
which you know there's a lot of people for a
house that's meant for three. It puts a strain on
our infrastructure, which in Jamaica Beach we have our own
aging seward plant which its inundated with saltwater when you
(23:21):
get a hurricane, but it also spikes in the summertime
when we had we have twelve people.
Speaker 5 (23:26):
Of Jamaica Beach. How did he keep it in well?
The greatest well that is in your life.
Speaker 1 (23:32):
It's h the mocl.
Speaker 5 (23:33):
Arry's formal ware.
Speaker 1 (23:34):
We have all your formal were needs, from morning suits
to coordinating accessories.
Speaker 5 (23:41):
Working two end, working toned. Brendon McDermott's name Will and
lopped out to me because he has a band and
they used to perform at the RCC. He is a
Jamaica Beach City councilman. With the intention of do you
live in Jamaica Beach full time?
Speaker 8 (24:00):
I was born and raised and still live there today.
Speaker 5 (24:02):
So of the one thousand to thirteen hundred homes, wish
you had an exact number. But of that number, what
percentage do you think are full time residence? You're out, Uh.
Speaker 8 (24:18):
I think we're probably full time, maybe fifty percent, and
then I would say probably twenty five thirty percent SDRs
and the rest probably weekenders and summer snowbirds and summer focus.
Speaker 5 (24:34):
One of the problems we've seen in Houston, and there's
a woman I forgive the name, she's an Asian woman.
She kind of took up the whole neighborhood's concern is
you get to one of the areas where this has
been really bad, is sam Phillippy just west of Oss
there's a water border rut there and there's a little
(24:56):
gas station and if you go south down that street,
it used to be affordable condos that were owned by
people and had been owned by people for decades. And
it was people that you know, secretaries and office workers
and things like that, and they could afford to live
inside the Beltway in a neighborhood that had a nice retail,
(25:19):
in a neighborhood, you know, close to in between Briargrove
and Tanglewood and the villages, and they could have this
nice quality of life in a condo that they could afford.
And then somebody, I think it was an Irani guy,
but I'm not positive that's what I was told. I
know who the guy is. But he started leasing out
(25:41):
or renting out one of these condos he had bought
as an investment. And it was an anything goes party.
So they've got a balcony out front and it's got
a little lawn in the front of it. They're more
sort of patio homes, but they're pretty small, and they're
having a party to end all parties. They're up all night.
They're having sex and the yard. They're dealing drugs, they're parked.
(26:03):
There's no parking off street parking, so the street is
just full of cars and these folks. The difference is
when the cops pull up, these folks don't scatter. They
stay out there and whiz in front of the cop.
You know, the cop goes to arrest them, and everybody's filming.
You know, they might jump the cup. So it just
all of a sudden, these people were hostages in their
(26:23):
own home and the problem was they couldn't sell their
home now because nobody wanted to move into this. So
if the city didn't deal with it, and the city's
not prepared to deal with things like this, because you
would have had Sheila Jackson Lee at the time when
Sylvester turned everybody else rushing to their defense. And so
this little Asian lady speaking English as the second language,
was the only one that would speak out in the neighborhood.
But she kept it in the news. I mean every
(26:44):
day she made it an issue. I don't know how
it resolved itself. So your probably, I don't think quite
that bad. But is it pretty wild? Parties? Is that
the str problem?
Speaker 8 (26:54):
Yeah, it's the law. Parties are probably the major seeing.
You know, we call them the bad actors, but you know,
it's it's people come to these houses to have a
good time, and whether they're having a party or they're
just on vacation, and the typical turnover is about three days,
so they'll reset with people every three days. So let's
say you have a group in there and they're loud
(27:17):
or something and the police stop buying, give them the
warning or whatever, and well, okay, so they get quiet,
but then three days later you get a new one,
and then that kind of thing happens again, and then
three days later you get a new one. So to
the renter, it was only you know, one interaction with
the police or one disturbance to the neighbors, and they
think they're not that bad. But to the person that
lives there, that's happening every single three days, and it
really starts to kind of it's just great on you know,
(27:39):
it ruins your your quality of life by having this
revolving hotel of people who maybe they're not even necessarily
being that bad. Although we have some houses that are
clearly party houses, like you're saying, where people are having
sex on the balcony and parking up and down the
street and just throwing garbage everywhere, but even a house
it's not that bad. You know, multiple times of small
(28:00):
infractions can really start to kind of ruin your quality
of life if you live next door to that.
Speaker 5 (28:07):
And how are the Jamaica Beach Police in dealing with this?
Are they aggressive in it or are they kind of
lass a fair adam more engage. Well, I think they.
Speaker 8 (28:18):
Do a great job. We're working on our new ordnance
of making sure that everything gets logged. If there's not
a record of the problems, then there's not much you
can do about the bad actors or the houses that
are continuously having problems. So, uh, we've kind of got
the police to start really logging these things, keeping track
(28:39):
of stuff so that we can keep a running tally.
We put in our ordinance where you know, if there's
multiple things happening multiple times and they keep adding up
and keep adding up, and you know that the owner
can be held responsible for some things instead of just
the renters. And we're hopeful that that's going to help
crack down on some of the issues as well.
Speaker 5 (28:57):
The units that are being put in the str pool,
are those units being are those folks ever coming down
themselves or is this purely an investment vehicle for them.
Speaker 8 (29:08):
Now we have a mixture of both. Actually, we have
some people that they need to do the SR as
you were seeing earlier, to afford that to own this home,
so they'll rent it out periodically, and then they'll come
down to some as well. And those owners typically are
better because they are also using their house, so they
want it to stay nice and they don't want bad
(29:29):
things to happen. And then we have people that buy
five or six or seven homes in Jamaica Beach and
they're strictly investing in there. They don't really care and
we have a lot of problems with those homes.
Speaker 5 (29:43):
Very interesting. Brandon McDermott, thanks for sharing your perspective that
is in Jamaica Beach. You know, I've noticed one of
the things that has allowed or ensured that Pirate's Cove
has kept its value. And there are a couple of
reasons for this is you've got bigger lots with bigger setbacks,
(30:04):
more space in between. That's important some of these communities,
the houses that are right on top of each other,
you've got I think that's a big one. But I
think that the fact that you can't do short term
leases in Pirates Cove has probably added I don't know,
twenty percent to the values because the kinds of people
who want to go down to Galveston. I don't think
(30:28):
Pirates Cove has very many because I have friends and
I go down and visit them there. I don't think
Parts Cove has very many full time residents at all,
but it tends to be a place at river Oaks
and Tanglewood and villages and those kinds of people. Woodlands
go down for the weekend, and they don't want that
stuff there, and so they're very strict in preventing it.
In fact, Lafitte, which was a George Mitchell development, which
(30:51):
is a newer version, which is just east of Pirate's Cove,
it is strictly forbidden. You cannot rent a place there
at all. So I think they probably have a few
more people who live there. But you're buying in that's
baked into the price that they you're not going to
have someone short term rountal, So you don't buy in
(31:12):
there if you need to lease it out. Philip, you're up, Go.
Speaker 6 (31:15):
Ahead, good morning, sir. I live on the East End
opposite of Brandon and it's been a wild run. My
parents have been down here since the early two thousands.
Speaker 5 (31:29):
They started with.
Speaker 6 (31:30):
Their str over behind Joe's on Avenue S and it's
a break even point. And during COVID, home prices shot up,
homes got bought, and now it's littered for sale. I
have six for sale within one block of me right now.
Speaker 5 (31:45):
And where are you in the East End.
Speaker 6 (31:48):
I'm at thirty You know where Queen's Barbecue is at
thirty fifth and S.
Speaker 5 (31:52):
No, but I know, I know. We're thirty fifth in
the neighbors.
Speaker 6 (31:58):
I'm down here. I live down here in the house,
and I see.
Speaker 5 (32:02):
It every day. Hold on just a minute, Philip, Larry,
everybody else. I'll get to you in just a moment.
I find this stuff fascinating. I don't know if anybody
else does.
Speaker 6 (32:08):
Is fascinating
It's that time, time, time, time, luck and lude. So
Michael Verie Show is on the air.
Speaker 2 (00:14):
We have had a lot of news this week in
a lot of developments for the Trump White House. The
last known living American hostage in Gaza is set to
be released, progress on trade with China, this ceasefire between
India and Pakistan, and now possible face to face talks
between Zelenski and Kotin for the first time since Russia
invaded Ukraine.
Speaker 3 (00:34):
With every single facet, We're gonna win so much. You
may even get tired.
Speaker 4 (00:39):
Of winning, and you'll say, please, please, it's too much winning.
Speaker 3 (00:44):
We can't take it anymore. This is the president.
Speaker 4 (00:47):
It's too much.
Speaker 5 (00:48):
And I'll say, no, it isn't.
Speaker 6 (00:49):
We have to keep winning. We have to win more.
Speaker 5 (00:52):
We're gonna win more.
Speaker 3 (00:54):
We're gonna win so much.
Speaker 6 (00:58):
No matter what.
Speaker 4 (00:59):
Talking mine old I can now looking enough and every
time I up in the beauning everybody handle.
Speaker 2 (01:07):
It's just awfully good that someone with the temperament of
Donald Trump is not in charge of the law in
our country, because you'd be in.
Speaker 5 (01:15):
Jail and they say that have.
Speaker 4 (01:17):
They they have they day that out.
Speaker 7 (01:19):
Who's the standard line for them? Donald Trump is a
threat to democracy. I'm just the opposite. I'm the one
that fixed our military. I'm the one that knocked out
isis I'm the one I did so much. I also
took a bullet.
Speaker 4 (01:32):
Now they just stated it's just winning baby when it
winging wii wan.
Speaker 5 (01:36):
No matter what got money?
Speaker 4 (01:38):
Oh my monucking now looking it up and.
Speaker 3 (01:41):
Every time I up in the beauded everybody handle the
attacker in Pennsylvania wanted to stop our movement. But the
truth is, the movement has never been about me. It
has always been about you. It's your movement. It's the
biggest movement in the history of our country by far.
Can't you so it can't be stuffed?
Speaker 4 (02:02):
They down down, don't do it if you're going in.
Speaker 5 (02:14):
The interesting thing happening in one of our communities, the
what is being referred to as the region's biggest buyers market.
And of course, you know, a buyer's market is when
(02:37):
sellers are not getting top dollar, but buyers are able
to command the price they want. We've seen buyers markets,
we've seen sellers markets. I sort of equate it to
the stock market, where people will say, you know, we
want stocks to go up. I want stocks to go up,
(03:00):
then you'll make money. But the only people who make
money when stocks go up are people who already own
the stock with a lower basis in the stock. If
you're twenty five years old, just got your first paycheck,
and you want to buy three hundred dollars a month
or the stocks. Let's take a stock that yesterday was
(03:22):
seventy two dollars and today has popped to one hundred.
You're paying more for the same stock that could go
up or down in the future, So up or down,
it's not necessarily overall good or bad. The people who
already own the shares are happy if the values go up,
(03:44):
but only to the extent that they share that they sell.
If I bought at seventy two and it goes up
to one hundred, I just cashed out for twenty eight
in capital gains. Right. But if I'm a buyer and
I had budgeted seventy two dollars for that share, it
goes up to one hundreundred, I'm not able to buy,
So that becomes a seller's market. That means that there
(04:05):
is a creative wealth for shareholders at the price at
which they purchased, but their future purchases become difficult. So
there is this notion I notice floating around that the
stock market going up is a good thing. And part
of that is because you get so many people who
have a four to h one k and they've put
some money into that account every month. They'd like to
(04:27):
see that thing go up so that it can throw
off more cash for their retirement. Fine, but there is
also something to be said for the dips, which is
when smart investors buy. The problem is you don't want to,
they say, ride the dip to the ground. If a
stock is at one hundred and it drops down to sixty,
if it's going to go back to one hundred, you
(04:47):
want to buy. But what if it goes all the
way down to zero, a company goes out of business,
it's delisted. That happens too. The biggest buyer's market in
the real estate region is being described one local source
as Galveston. And why is that Because of the wave
(05:08):
of airbnbs flooding the listings. The average Galveston home now
sits on the market for over five months. As the
beach town shifts into what may be the biggest buyer's
market in the Houston region. The Chronicles. Marissa Luck says
there's a wave of vacation rentals hitting the market thanks
(05:30):
to a surge in short term rental owners looking to
offload their properties. For some, the demands and costs of
operating short term rentals can outweigh the rewards. The number
of homes for sale on Galveston Island has surged forty
two percent in the past year, hitting about one thousand
listings in the first quarter. According to har that's more
(05:53):
than double the number of homes for sale in the
area two years ago, when there were just four hundred
and thirty one homes for sale. Of the supply stems
from investors who purchased during the height of the pandemic. Okay,
so they bought at one hundred right, but not all
got the right advice. The glut of homes for sale
comes at a time of elevated mortgage rates and economic uncertainty,
(06:15):
which have sidelined many buyers. Galveston now has nearly seventeen
months of housing supply, far beyond the four to six
months considered a balanced market, according to Houston Association of Realtors.
Galveston real estate agents say much of today's supply stems
from homes purchased during the height of the pandemic, when
low interest rates and flexible remote work policies made second
(06:39):
homes and vacation rentals more attractive. Buyers were often lured
by the promise of promise of robust rental income, but
not all got the right advice. A house that would
have sold pre COVID for three hundred was selling for
six hundred or seven fifty, said Diane Moore, president of the
Galveston Association of Realtors. At the height of the pandemic,
(07:00):
I watched this happen. I saw homes that were on
the market when COVID hit. I watched those things, SPIKEE
come off the market and increase, Just like the childhood
home of Pope Leo the fourteen. His childhood home was
on the market and it was marketed as you know,
(07:22):
a nice three bedroom, too bad whatever. When he was
announced as the pope that day, the conclave made the decision.
The house was taken off the market for a day
or two and put back on it something like double
the price, because all of a sudden there was it
had something, it had gold dust on it that somebody
would want that as that was the Pope's childhood home.
(07:44):
I watched people flood down. And again this is basic
economics that we talk about all the time. The supply
of homes in Galveston didn't change. The demand increased. So
you look on the curve. When you increase demand without
changing supply, what happened You drive the prices. Now those
people that bought at those high prices trying to get out.
(08:10):
We've talked about concierge medicine recently, and it really is
a market based response. And for some solution to a problem,
eventually the market finds a solution. It might be that
it's stumbling around in the dark looking for a wall
(08:33):
that can push. That's an opening to the light. But
and it won't be available to everyone, and it might
not be cost effective for everyone, might be out of
reach financially. But the market is a problem solver, and
that's what's going to happen.
Speaker 6 (08:50):
Now.
Speaker 5 (08:50):
Not everybody will have their problem solved or to the
extent they want, or it might not be fast enough,
but the market is a problem solver. Let's take a
clearing or the top of the line rolls ross. That
car is not necessarily faster than anything else. It doesn't
necessarily ride better, it doesn't last longer, it doesn't have
(09:13):
some feature that no one else has. It's simply a
status symbol. That is ninety nine percent of the value
of those cars. It's a status symbol. That's why they
have to be designed and contoured in such a way
that they look distinct. Most of the cost of that
vehicle is to say I've got a lot of money. Now,
(09:37):
whether you do or not, whether it's an exotic rental,
whether it's a Ponzi scheme. I've noticed that most people
driving cars like that today are not the fabulously wealthy.
There's some guy that got a rookie contract or some
guy that's playing fast and loose with business principles and
(09:59):
the law, and a lot of those guys go down.
But that's who wants to give off the vibe. It's
very important to give off this vibe. That is a
solution in the marketplace for a certain problem. The problem
being how do I convey the message that I am
fabulously wealthy, because I think that's what that car conveys.
(10:19):
Oh well, here is a car not for the average person.
If it was for the average person, kind of like
the toll road. If everybody could use it, it wouldn't
have the value, it wouldn't have the effectiveness for the user.
So part of the price is in and of itself exclusivity.
The person doesn't want a thirty thousand dollars car. You
(10:41):
pass ten parking lots to get to Tillman's lot at
the post op where you get the Rolls Royce. You
could have purchased a lot of other reasonably priced vehicles
that would do more than what you needed at Lone
Star Chevrolet or any other dealership. So this slet here
(11:01):
is going to be an interesting one because there has
been an attempt in a regulatory fashion to pull back
on the airbnb. And what happened was I know because
I watched a lot of people do this and there's
nothing wrong with it. People think I'm somehow ridiculing them
or taunting them or insulting them. No, I'm repeating what
I watched happen, and they feel indicted by it or
(11:23):
convicted by it, and there's no need to It happens.
We all do it. So here's what happened. You had
a family in Houston living in Briargrove Park. Let's say,
and COVID hits all of a sudden. The kids aren't
going to school and they're driving mama crazy. They're home
all day. The husband's not going to school. He's driving
(11:46):
mama crazy. And because he's at work, everybody has to
be quiet. We've got to you know, he's converted some
room to his office and there's too much noise. And
so her girlfriend says, why won't y'all come down. We
got a place down in Galson. Why won't y'all come
down for a couple of days this weekend. Let Mike
(12:08):
stay there and work, or Bob or Bill or Brian
or whatever his name is, let him stay there and work.
He can come down on Friday when he's done, and
you and the kids come down, and y'all can be
here at the house and give him some space. And
then you know, the kids are going stir crazy. Okay,
then my kids'll house somebody to play with your kids? Okay, yes,
all right. So they go down and she says, you
know this was you say, it's an hour, but if
(12:30):
you if you are west of town, it's more than
an hour. It's going to be up to an hour.
It could be out up to an hour and forty
five minutes top on how far you go down. So
there you are in Galveston, having a nice time. Maybe
see Isle, maybe one of those communities, Jamaica Beach. And
(12:50):
she says, oh man, this would I really like it
done here. Mama can have a drink, sit out and
watch the ocean, the kids play, they get out of
my hair. Oh this is great. Well, honey, we can't
afford a place down here like this. We're already you know,
we're already kind of where we need to be. And
she says, no, that's just it. Julie told me that
(13:11):
we can rent it out when we're not here. Oh no, no, no, no, no,
stand and see it all they take thirty three. No,
you just airbnb it and I can do it, Julie said,
she started doing it. I can do it. I can
airbnb it. That they're telling me, we can pay for
it just the nights were not here. We can pay
(13:34):
for it out of airbnb. So the first one that
went on the market, oh boy, it was probably rented
up every night because now you could rent a house
not didn't have to do it for a month, which
is what you had to do before or just during
the summer. You could do a house for two or
three nights in Jamaica Beach. You couldn't rent in Pirates
Cove that that was different, but in most of those
(13:59):
Spanish I think you could. You could rent it. You
could rent a unit, a house for some period of time, two,
three days, whatever the minimum was. So all of a
sudden people started hearing about that. Well, Julie comes back
and she tells Jennifer. Jennifer tells Amy, and before you
know it, they're going you get you a place in there,
and then our kids can gather. We can gather. We'll
(14:22):
have some rose on the front porch. This will be great.
The husbands stay here at work, they can come down
when they're through. Maybe they come down on Thursday evening.
The thing will pay for itself. I'll do the work. Well,
everybody got that brilliant idea. That's what happened, and then
you had a glut of homes on the airbnb market. Well,
the other down side of that was that if the
(14:45):
people on either side of you had an Airbnb, then
when you were down there, because the point was to
have a weekend home, right, not an investment property. The
airbnb activity was designed to help you pay for it. Well,
now the people on both sides of you and by
you have airbn beat it. Well. Guess what you know.
Those people on the carnival cruise they airbnb. They can
(15:06):
pull together some money. You know the guy that that
you don't want to sit next to at the football
game because he's screaming and drunking all that, Well, they
bring eight folks down to the Airbnb next to you.
I would love to hear from some folks who did,
who ran an Airbnb with your stories in Galuston seven
(15:27):
one three nine nine nine one thousand, seven one three
nine nine nine one thousand. I think that there might.
Speaker 6 (15:31):
Be sause I got nothing going on down there.
Speaker 5 (15:33):
Probably I have heard this in bars, at weddings, bar mitzvahs,
you name it twenty five times, and I never bothered
to learn. Apparently the song is called blue and the
band is Eiffel fifty five. Who knew? Oh sixty five?
(15:55):
Okay five? I mean, don't judge, but I I've always
thought it kind of creates a good vibe at a party.
I just never knew what the darn song was, and
I never knew what I don't know what year it
came out. It just showed up one day, and when
it showed up, it felt like it had been around
for ten years. It's one of those songs that feels
like it was big when ed Sheuran was big, whenever
(16:18):
that was. I don't know when that was. Was that
eight It's sort of like there's years there, like decades.
I don't know what year Lady Gaga came on. Was
it two thousand and two, was it twenty twelve, was
it twenty eighteen. I don't know. It was just somewhere
in that realm where I don't listen to Top forty.
So I just know they are these people that popped up,
(16:39):
and I don't know when they popped up. I don't
know how they popped up. I'm not mad at them
for popping up. I'm not saying you're an idiot for
listening to him. I just don't know. Somebody told me
the other day, Eddie's always trying to get me to
listen to these new country guys. And then I find out,
so Eddie tells me about two or three years ago,
you ever listened to Morgan Wallen? Know who's that?
Speaker 6 (16:59):
Who is she? No?
Speaker 5 (17:00):
No, No, he's got a dude. I can't believe Morgan
Wallen no idea, and I didn't. He was the top
country pop whatever guy and had been for like five
years at that point. By the time I heard a
jelly roll song. I happened to see a video somebody
sent to me, and but for the fact that he's
so fat, I wouldn't have watched it. But he was
(17:23):
so fat and tattoos all over him. I couldn't help
but watch. I couldn't help but watch, And yet he
had the sweetest disposition, and I thought, this guy's been
through something, but he just has It's like he's he's
just been saved, like five minutes ago. He's just been saved.
And he has that look like if you go jelly roll,
(17:45):
this is a great day. It's the greatest day of
your life. You begin living today. Would you like to
go eat at Loubi's? And he has that forever countenance
that it's like, yes, yes, we can eat as f
Hello shit. He kind of has that all the time.
That caught my attention. Other than that, I don't know
any of these people. All right, your Airbnb stories good
(18:09):
and bad. I'm not saying it's all bad. Let's start
with Brandon. Brandon, you're on the Michael Berry Show.
Speaker 8 (18:14):
Go ahead, Good morning, Michael. My name is Brandon McDermott.
I'm actually a city council member in the city of
Jamaica Beach down here in Galaston.
Speaker 5 (18:23):
Aren't you a singer?
Speaker 8 (18:26):
Yes, I do. I am the stener in the brand
mc dermott. And you've played my song quite a few times. Actually, yeah,
you release something.
Speaker 5 (18:33):
The other day. I don't know if it was a
new song you wanted me to. You had a Michael
did you do at Michael Berry Show?
Speaker 8 (18:39):
So I did. We did a Michael Show sorry, Michael
Berry Show jingle a while back back when Obama was president,
and it was kind of a contrasting his presidency with
you keeping everybody saying during.
Speaker 5 (18:55):
It okay, I sent you an email back saying send
me that jingle. Did you send it? Yes, sir, I did.
Speaker 8 (19:01):
It was it was Friday, so oh yeah, but yes, sir,
I did. And I could rescind it.
Speaker 5 (19:05):
If you need it anyway, So go ahead.
Speaker 8 (19:08):
So I actually ran my whole campaign a year ago.
My platform was regulating short terminals in Jamaica. Beach Witch
is the city where I was born and raised and
grew up. As I was growing up, we had probably
artificial data is we had in from nineteen eighty four
to nineteen ninety nine we had about ten STRs. From
(19:28):
two thousand to two thousand and nine we had about
thirty twenty.
Speaker 5 (19:32):
To twenty four. I want to write this down and
for the people at home, and STR is a short
term rental. So used to you had rent monthly. A
short term rental is a whole different ball game because
you could you can run, You can get people that
are holding parties, whereas somebody for a month might be
a snowbird coming down, coming down from the northeast for
our mild winters. All right, so in what year did
(19:53):
y'all have right? Give me those numbers again?
Speaker 8 (19:55):
So in nineteen eighty four to nineteen ninety nine we
had about ten to twelve or terminals. In two thousand
to two thousand and nine we were up to thirty.
In twenty ten to twenty fourteen we were at about
sixty to seventy. Twenty fifteen to twenty nineteen we had
gotten to one hundred and thirty. And then when COVID
(20:16):
hit from twenty twenty to twenty twenty three, we jumped
all the way up to three hundred and seventy.
Speaker 5 (20:21):
How many individuals homes? How many single family homes do
you have?
Speaker 8 (20:25):
There's approximately one thousand to thirteen hundred homes in Jamaica Beach.
Speaker 5 (20:29):
Oh, so you're talking about almost forty You're talking about
between thirty and forty percent of the homes were.
Speaker 8 (20:35):
Correct, and that happened real fast. So it's completely changed
the fabric of our neighborhood. Where we went from a
community of a lot of full timers and a lot
of weekenders who had houses in Jamaica Beach but didn't
necessarily use them during the week or during the winter,
to basically of revolving hotel and it's really just kind
of put the residence on edge, and it's completely changed the.
Speaker 5 (20:57):
Fabric of our neighborhood.
Speaker 8 (20:58):
And even back when short terminals were not so prevalent
in our neighborhood, the Internet changed everything because you used
to have to go through a rental company to rent
the house, so that meant a person physically had to
go pick up a key, meet the person. There was
a rental agency responsible for the behavior of that house.
Now there's you can do everything on the internet. Have
electronic doorlocks. So just this past weekend, there was a
(21:21):
house with probably one hundred, one hundred and fifty kids
renting it for prom that the parents rented it for him,
didn't even come down, just gave the kids the code.
They told everyone on the internet. They threw a giant party,
and you know, the police had to get involved. There's
cars parked up and down every single road, and our
neighborhood just really isn't the same anymore. So, you know,
I ran trying to pass some regulations on that. I
(21:43):
got elected overwhelmingly and we have got a new ordnance
in place. But you know, it's it's there's a lot
that you can't do. You know, there's there's property rights,
which I understand too, I'm a property rights guy, but
the people that live there also have rights to have
a community.
Speaker 5 (21:57):
It's not a hotel. Interesting. So the restrictions that y'all
are trying to narrowly tailor to deal with this problem,
are they noise restrictions, are they on street parking restrictions?
Are they occupancy We're.
Speaker 8 (22:16):
Kind of a wide it's kind of a wide swath
of stuff. Our current ordinance, right now we'd passed to
somewhat limit how many people could stay in a home.
It's very common in Texas to have they call it
two plus two or two plus four, where it's two
plus two is two people for per bedroom plus an
(22:37):
additional two people in the house, so you know, three
bedroom would be two four six plus the additional two,
so you could have eight people stay there. We actually
passed two plus four, which you know, up the number
of people that can stay there to ten. But then
we added another thing where you would divide the square
foot of the house by one fifty and whichever was
(22:59):
less is how you decided who was in there. But
it averages out to about ten people per three bedroom
or twelve per per four bedroom or something like that,
which you know there's a lot of people for a
house that's meant for three. It puts a strain on
our infrastructure, which in Jamaica Beach we have our own
aging seward plant which its inundated with saltwater when you
(23:21):
get a hurricane, but it also spikes in the summertime
when we had we have twelve people.
Speaker 5 (23:26):
Of Jamaica Beach. How did he keep it in well?
The greatest well that is in your life.
Speaker 1 (23:32):
It's h the mocl.
Speaker 5 (23:33):
Arry's formal ware.
Speaker 1 (23:34):
We have all your formal were needs, from morning suits
to coordinating accessories.
Speaker 5 (23:41):
Working two end, working toned. Brendon McDermott's name Will and
lopped out to me because he has a band and
they used to perform at the RCC. He is a
Jamaica Beach City councilman. With the intention of do you
live in Jamaica Beach full time?
Speaker 8 (24:00):
I was born and raised and still live there today.
Speaker 5 (24:02):
So of the one thousand to thirteen hundred homes, wish
you had an exact number. But of that number, what
percentage do you think are full time residence? You're out, Uh.
Speaker 8 (24:18):
I think we're probably full time, maybe fifty percent, and
then I would say probably twenty five thirty percent SDRs
and the rest probably weekenders and summer snowbirds and summer focus.
Speaker 5 (24:34):
One of the problems we've seen in Houston, and there's
a woman I forgive the name, she's an Asian woman.
She kind of took up the whole neighborhood's concern is
you get to one of the areas where this has
been really bad, is sam Phillippy just west of Oss
there's a water border rut there and there's a little
(24:56):
gas station and if you go south down that street,
it used to be affordable condos that were owned by
people and had been owned by people for decades. And
it was people that you know, secretaries and office workers
and things like that, and they could afford to live
inside the Beltway in a neighborhood that had a nice retail,
(25:19):
in a neighborhood, you know, close to in between Briargrove
and Tanglewood and the villages, and they could have this
nice quality of life in a condo that they could afford.
And then somebody, I think it was an Irani guy,
but I'm not positive that's what I was told. I
know who the guy is. But he started leasing out
(25:41):
or renting out one of these condos he had bought
as an investment. And it was an anything goes party.
So they've got a balcony out front and it's got
a little lawn in the front of it. They're more
sort of patio homes, but they're pretty small, and they're
having a party to end all parties. They're up all night.
They're having sex and the yard. They're dealing drugs, they're parked.
(26:03):
There's no parking off street parking, so the street is
just full of cars and these folks. The difference is
when the cops pull up, these folks don't scatter. They
stay out there and whiz in front of the cop.
You know, the cop goes to arrest them, and everybody's filming.
You know, they might jump the cup. So it just
all of a sudden, these people were hostages in their
(26:23):
own home and the problem was they couldn't sell their
home now because nobody wanted to move into this. So
if the city didn't deal with it, and the city's
not prepared to deal with things like this, because you
would have had Sheila Jackson Lee at the time when
Sylvester turned everybody else rushing to their defense. And so
this little Asian lady speaking English as the second language,
was the only one that would speak out in the neighborhood.
But she kept it in the news. I mean every
(26:44):
day she made it an issue. I don't know how
it resolved itself. So your probably, I don't think quite
that bad. But is it pretty wild? Parties? Is that
the str problem?
Speaker 8 (26:54):
Yeah, it's the law. Parties are probably the major seeing.
You know, we call them the bad actors, but you know,
it's it's people come to these houses to have a
good time, and whether they're having a party or they're
just on vacation, and the typical turnover is about three days,
so they'll reset with people every three days. So let's
say you have a group in there and they're loud
(27:17):
or something and the police stop buying, give them the
warning or whatever, and well, okay, so they get quiet,
but then three days later you get a new one,
and then that kind of thing happens again, and then
three days later you get a new one. So to
the renter, it was only you know, one interaction with
the police or one disturbance to the neighbors, and they
think they're not that bad. But to the person that
lives there, that's happening every single three days, and it
really starts to kind of it's just great on you know,
(27:39):
it ruins your your quality of life by having this
revolving hotel of people who maybe they're not even necessarily
being that bad. Although we have some houses that are
clearly party houses, like you're saying, where people are having
sex on the balcony and parking up and down the
street and just throwing garbage everywhere, but even a house
it's not that bad. You know, multiple times of small
(28:00):
infractions can really start to kind of ruin your quality
of life if you live next door to that.
Speaker 5 (28:07):
And how are the Jamaica Beach Police in dealing with this?
Are they aggressive in it or are they kind of
lass a fair adam more engage. Well, I think they.
Speaker 8 (28:18):
Do a great job. We're working on our new ordnance
of making sure that everything gets logged. If there's not
a record of the problems, then there's not much you
can do about the bad actors or the houses that
are continuously having problems. So, uh, we've kind of got
the police to start really logging these things, keeping track
(28:39):
of stuff so that we can keep a running tally.
We put in our ordinance where you know, if there's
multiple things happening multiple times and they keep adding up
and keep adding up, and you know that the owner
can be held responsible for some things instead of just
the renters. And we're hopeful that that's going to help
crack down on some of the issues as well.
Speaker 5 (28:57):
The units that are being put in the str pool,
are those units being are those folks ever coming down
themselves or is this purely an investment vehicle for them.
Speaker 8 (29:08):
Now we have a mixture of both. Actually, we have
some people that they need to do the SR as
you were seeing earlier, to afford that to own this home,
so they'll rent it out periodically, and then they'll come
down to some as well. And those owners typically are
better because they are also using their house, so they
want it to stay nice and they don't want bad
(29:29):
things to happen. And then we have people that buy
five or six or seven homes in Jamaica Beach and
they're strictly investing in there. They don't really care and
we have a lot of problems with those homes.
Speaker 5 (29:43):
Very interesting. Brandon McDermott, thanks for sharing your perspective that
is in Jamaica Beach. You know, I've noticed one of
the things that has allowed or ensured that Pirate's Cove
has kept its value. And there are a couple of
reasons for this is you've got bigger lots with bigger setbacks,
(30:04):
more space in between. That's important some of these communities,
the houses that are right on top of each other,
you've got I think that's a big one. But I
think that the fact that you can't do short term
leases in Pirates Cove has probably added I don't know,
twenty percent to the values because the kinds of people
who want to go down to Galveston. I don't think
(30:28):
Pirates Cove has very many because I have friends and
I go down and visit them there. I don't think
Parts Cove has very many full time residents at all,
but it tends to be a place at river Oaks
and Tanglewood and villages and those kinds of people. Woodlands
go down for the weekend, and they don't want that
stuff there, and so they're very strict in preventing it.
In fact, Lafitte, which was a George Mitchell development, which
(30:51):
is a newer version, which is just east of Pirate's Cove,
it is strictly forbidden. You cannot rent a place there
at all. So I think they probably have a few
more people who live there. But you're buying in that's
baked into the price that they you're not going to
have someone short term rountal, So you don't buy in
(31:12):
there if you need to lease it out. Philip, you're up, Go.
Speaker 6 (31:15):
Ahead, good morning, sir. I live on the East End
opposite of Brandon and it's been a wild run. My
parents have been down here since the early two thousands.
Speaker 5 (31:29):
They started with.
Speaker 6 (31:30):
Their str over behind Joe's on Avenue S and it's
a break even point. And during COVID, home prices shot up,
homes got bought, and now it's littered for sale. I
have six for sale within one block of me right now.
Speaker 5 (31:45):
And where are you in the East End.
Speaker 6 (31:48):
I'm at thirty You know where Queen's Barbecue is at
thirty fifth and S.
Speaker 5 (31:52):
No, but I know, I know. We're thirty fifth in
the neighbors.
Speaker 6 (31:58):
I'm down here. I live down here in the house,
and I see.
Speaker 5 (32:02):
It every day. Hold on just a minute, Philip, Larry,
everybody else. I'll get to you in just a moment.
I find this stuff fascinating. I don't know if anybody
else does.
Speaker 6 (32:08):
Is fascinating
Popular Podcasts
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Therapy Gecko
An unlicensed lizard psychologist travels the universe talking to strangers about absolutely nothing. TO CALL THE GECKO: follow me on https://www.twitch.tv/lyleforever to get a notification for when I am taking calls. I am usually live Mondays, Wednesdays, and Fridays but lately a lot of other times too. I am a gecko.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.