January 11, 2026 • 38 mins
In this episode of the Duncan Duo Real Estate Show, Andrew Duncan shares his thoughts on the impact of President Trump's proposed executive action to reduce hedge fund institutional investors in the real estate market. He discusses the potential effects nationally and in the Tampa Bay area, where institutional investors are still active but not as dominant as they once were. Andrew also touches on the importance of tax relief, affordability, and inventory in the market, and shares his predictions for the Tampa Bay real estate market in 2026.
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Speaker 1 (00:00):
I'd be Sunday, Tampa Bay. We're with you for another
(00:02):
week here on the Duncan Duo Real Estate Show, like
we are every Sunday at ten here on NewsRadio WFLA News.
Excited to be back live on the air. In case
you didn't notice, the last couple of shows were some
reruns as I took some time off to recharge during
the holidays and vacation a little bit and spend some
time with my family. And there has been a lot
(00:22):
happened in the last couple of weeks with the real
estate market. You know, I need predictions before Christmas about
what I expected. I'm going to touch on that a
little bit today in terms of what do I what
I expect to happen with the Tampa Bay real estate
market in twenty twenty six. But I want to lead
off today and again it's Sandrew Duncan, the Duncan Duo team,
(00:43):
LPT Realty at the Duncan Duo Twitter, Instagram, YouTube and
TikTok Duncan Duo dot com for your free home value
estimate or an instant cash offer on your home. But
I want to start today talking about what President Trump
put on truth Social this week about how he is
going to take executive action to reduce, to eliminate large
(01:05):
hedge fund institutional investors from buying single family homes. And
I want to talk about the impact nationally and then
talk about the impact in Tampa, because what I can
appreciate about President Trump is that the last few weeks
you've heard a lot of conversation from him about housing
reforms and wanting to improve the housing market. And you know,
(01:27):
I appreciate that he's that he's taking action. I appreciate
that he is looking at solutions. I mean, we've heard
things like portable mortgages. We've heard the possibility of a
fifty year mortgage. These are things that shirt certainly could
have an impact, but probably a pretty minimal impact for
the most part, but some impacts, you know, a combination
of a lot of these things that he's doing could
(01:48):
have could could move the needle some. But the hedge
fund buying prohibition, I want to talk about the impact
of it nationally first, and then I want to talk
about what it means for Tampas. So nationally, I think
it's mostly a nothing burger. The reality is that the
institutional investors own less than two percent of the homes
in the country. They are not the big bad wolf
(02:10):
that you might feel like they are, simply because they're
just not buying as much anymore. If this legislation, executive action, prohibition,
whatever you want to call it, would have happened during
the COVID years when they were heavily buying, or even
slightly before that, it could have maybe had an impact
because there were years where they were gobbling up a
(02:31):
lot more of the inventory. But in today's world, the
numbers that cap rate numbers to turn a single family
home into a rental in a lot of markets just
don't make sense. The rent numbers haven't risen enough with
the increase in property taxes, prices, and insurance for it
(02:52):
to make sense for most of these institutional investors that
can put money in other projects. So the reality is
is even though they they own too and upwards of
five percent, some people say, in some markets, the reality
is is there most of that was bought a long
time ago. They're not buying very much anymore, and a
(03:13):
lot of the inventory they acquired was from many many
years ago. So if there was some sort of incentive
to get them to release or sell off some of
their inventory to buyers. Then maybe I could see some
improvement in the market and some inventory coming on. But
preventing these hedge funds from buying homes this market, they're
just not They're not looking in this market and buying
(03:34):
up swaths of homes because it doesn't make financial sense.
They can't buy them with the rates where they are,
with insurance where it is, with property taxes where it is,
and rent them and make money that is gone. Any
smaller investor, including myself, that loves to look at real
(03:55):
estate as an investment, knows that you're not out there
unless you can steal a house. You're not out there
buy at homes and making great cap rates on single
family home rentals today. So for the most part, across
the country, great big nothing burger. Now again, is it
heading in the right direction? Are we poking around enough
(04:16):
and maybe going to find a few things that will
help fuel it? You know? Possibly? The reality is the
only thing that's going to move the real estate market
in a really positive heavy way is going to be
tax relief because so many home sellers sitting on homes
that they don't want to sell or but they don't
want to upgrade because of either property tax or cap gains,
(04:38):
you know, or and insurance costs. That would certainly help
some Some tax regulatory changes, I think interstrates Obviously affordability
would wake up more buyers. Even though we've seen interest
rates drop, they're going to continue, likely to drop some
more this year. A new FED chief later in the
year is likely to move forward some rate cuts. But again,
(04:59):
the bond market in the ten year treasuries are really
more of what mortgage rates. They don't completely correlate with
the FED. There have been FED movements that didn't lower
mortgage rates, so it's not a complete it's not completely interconnected.
So some of the things he's going to do, a
whole broad scope of a lot of things he does,
(05:20):
may end up putting our real estate market back in
a better place. Any one of these things that he's
talking about, though, is going to have pretty negligible impact.
So again, hedge funds just nationally just are not buying
enough homes and having it make enough sense. They're not
out there competing. If you're a home buyer right now,
you're not really competing with these hedge funds anymore. Their
(05:42):
buybox is really small. What they can buy is really small.
They're not buying swaths of inventory like they used to.
They can't make money on it. They just can't. They
own a lot. Now, if President Trump has listened to me,
which I highly highly highly doubt it, if President Trump
really wanted to do something with the hedge funds, he
would maybe encourage some sort of tax incentive to convince
(06:06):
them to sell off some of their inventory, bring inventory
onto the market. That could certainly help. Other things that
would help, you know, obviously building regulations creating more housing,
allowing home builders to build more quickly. I know that
there is some executive action being put into place to
(06:26):
slow down the regulations on data tech center AI data
centers being built and electrical grid construction. If somehow there
was some sort of cooperation between the FED and the
States to improve and quickened building regulations, that could potentially
help in the long term. But obviously that's not going
(06:48):
to move the needle quickly. So all in all, a
lot of really very very very minimal impact. Now, where
this could have more impact is in cities like Tampa,
like Phoenix. You know, these are like parts of Texas.
These are areas where the hedge funds are a little
(07:09):
heavier in terms of buying now not as much as
they used to because the numbers don't work as much here.
And what what I think President Trump is, what is
legislation went at or not as legislation, What does executive
action proposed executive action win? That was really the the landlords,
the people are buying and turning him into rentals and
(07:31):
owning them, and he wants to reduce that. Now, what
Tampa does have. We do have a lot of institution
buyers here, but they're buying and flipping and that's not
really taking homes off the market for the end user buyer,
because the end user buyer is going to have a
hard time buying that house. I'm fixing it up. It's
just it's not that they're not the same they're not
(07:51):
buying the same product for the most part, especially a
first time home buyer. So so you saw in the
stock market some of the stocks of the institutional buyers,
like like an open Door for example, get beat up
pretty hard, even though that's not really what Trump's targeted at,
the open door concept. And some of those companies they buy,
fix up and then still end up passing that home off.
(08:12):
A few months later to it end user buyer, So
it's not really taking inventory. Those institutional investors and buyers
aren't really taking away inventory from home buyers. They're just
improving the inventory and then turning it over. So he
really seemed to attack the ones that are buying and landlording.
And even though there are a lot of homes owned
by you know, Blackstone, invitation homes, American homes for rent
(08:35):
in the Tampa Bay market, they're not buying much anymore.
So I think he's heading in the right direction. My
hope is that he'll work on some sort of opportunity
instead of preventing them to buy and putting restrictions in place,
because I just don't love the government oversight. I don't
think it does a lot to help, you know. I
(08:55):
would rather him look at incentives to try and encourage
maybe less buying, but more selling from a from a
tax benefit standpoint to some of these institutions, and I
think you could see some inventory. The biggest issue is
affordability and inventory. That's really where it's at. You're not
necessarily impacting affordability by telling hedge funds that they can't
(09:16):
buy homes when they're not really buying as many homes.
They're not really buying many like they used to, and
you're not really impacting more homes coming on the market
by eliminating a buyer. And that's not really competing with anyone.
So the big bad Wolf hedge funds that have been
labeled that was probably you know, twenty twenty, you know,
(09:38):
twenty twenty one. I was five years ago that that
was an impact in her market. So again I think
there is some you know, there are some positive things
a president's doing. I think he's poking around and trying
to discover maybe a you know, maybe a policy list
of several things that could have some positive impact. But
(09:58):
the reality is it's you know, improvement of regulatory to
allow builders to build quicker. It's incentives for buyers and
making it more affordable, and you know, creating inventory that
is needed by home buyers. Home buyers will get excited
to have more inventory. So all of those things I
(10:20):
think could in conglomeration have a positive impact. And so
I mentioned this before the holidays. What do I predict
is going to happen in Tampa in twenty twenty six.
I think it's going to be a really good year.
Compared to last year, We've got population growth back, we're
further away from the hurricanes. I can think across the
country it's going to be pretty flat and not not
(10:43):
a huge upswing. But I think Tampa's going to see
a little bit more of that because so much of
our twenty twenty five was negatively impacted, especially at the
start of the year by the hurricane hangover all the
storms that were all the homes that were damaged, all
the buyers that were displaced, and then of course the
population growth that was shocked by people in late twenty
four and early twenty five that didn't want to move
here because they didn't want to move back to a ward,
(11:04):
they didn't want to move into a war zone basically
of homes that were just destroyed and distressed and business
is not open. And now that we're another year past that,
if we can get through this year without major hurricane impact,
I think twenty twenty seven has a shot at being
a record breaking year with some interst rate relief. So
I think twenty twenty six I'm super bullish on it.
I think we're gonna have a good year in Tampa again,
(11:26):
a better year than last year. A better year in
Tampa than a lot of markets across the country, simply
because of the you know how bad twenty five was
was a lot of the impact. People don't realize. If
you pull out the hurricane distress sales, our home valleyes
actually went up last year. But when you throw those
back in, people are like, oh, Tampa saw depreciation last year. Well, yeah,
(11:49):
because you had a lot of five hundred thousand dollars
houses sell for three hundred thousand because they were flooded.
When you remove those, our prices actually appreciated. So I think,
you know, more of those get cleaned out, appraisals start
looking better, and we get some interest rate relief, maybe
even some property tax relief. I know there are a
lot of people listening right now rooting for that. I
am one of them. I think it would be hugely
(12:11):
positive for Tampa Bay's real estate market if we get
a bill on the ballot to abolish or dramatically reduce
homestead property taxes. Now that wouldn't go into effect until
twenty seven, but just the fact of getting it onto
the ballot I think will cause some buyers to jump
off the fence and anticipation that it passes, and I
(12:33):
think there is a relatively good chance that it does.
I'm pretty optimistic that it will. It's just a matter
of getting it onto the ballot and then a sixty
percent super majority vote. And I believe the people that
vote in those elections tend to steer very anti tax
So I think there's a really good chance that it
does pass, and I'm hopeful for that. So we'll see
(12:56):
how that goes. That could be very, very very positive
for our real estate market as we get closer to
the end of the year when that ballot would be announced.
So and that obviously would not impact taxes in twenty
six it would be for next year. But nonetheless, the
announcement of that I think would be super optimistic. So
we're going to continue this conversation about the Tampa Bay
real estate market after quick break here on the Duncan
(13:16):
Duo Real Estate Show. So we're back here on the
Duncan Duo Show talking about the Tampa Bay real estate market.
You know, I get this question a lot, and it's
something that you know, again, Andrew Duncan the Duncan Doo
tmlpt Realty at the Dunkin Duo. Duncan Duo dot com
for your home value or quick cash offer. I get
a lot of questions about house flipping. You know, we
are at my company, we still I mean, I am
(13:39):
constantly remodeling, renovating and putting homes on the market that
we buy through our funds and different things. And I
think we've got a bunch on the market right now.
We've got many coming. One of the things that is
unique about my real estate company is not only do
we bring agents on and we help them, you know,
become salespeople. We coach them in terms of how to
(14:00):
how to get started in flipping homes and not wholesaling them.
We don't do wholesales, you know, as a core part
of our business. But the reality is is that there
are a lot of agents out there worried about what's
going to happen with AI. Hey, is AI going to
replace me? Is AI going to replace agents? Is AI
going to change our industry? The answer to that is yes,
(14:21):
it is going to replace some agents, especially the bad
ones that don't do a really good job for the clients.
It is going to have a massive impact on our industry.
It's going to change things. But AI can't fix up
a house. So we're constantly educating and teaching our agents
how to spot those opportunities and then how to renovate
and add value to home, and then how to profit
from that. So it's one of the unique things about
(14:42):
joining my company is in addition to teaching how to
work with buyers, teaching you how to work with sellers
based on a twenty year track record, we're also teaching
you how to be an investor in how to build wealth.
So if that's something that's of interest to you, if
you're a real estate agent, you're listening and you're not
getting that from your brokerage. You're not getting that one
on one opportunity to learn from you know somebody you
know wealthy that has has mastered investing in real estate.
(15:03):
Go to join the duo dot com. Shoot us a message,
you can copy, you can you can shoot into any
of our social media platforms and send us a message.
We'd love to invite you to one of our classes
or maybe one of our meetings, just to kind of
test us out and see what we do. But house
slipping activity is cooling, and so it is at a
(15:25):
couple of year low. It looks like about three hundred
thousand homes across the country. We're flipped nationwide in twenty
twenty four, down seven seven point seven percent from twenty
three and down more than thirty two percent from twenty two. Now,
when the market isn't showing as much appreciation, you have
to be a lot better at it. You got to
get a better deal, and you've got to be better
(15:46):
at renovation costs. Because when the market is rising and
we're seeing these years back like a few years ago,
where we saw, you know, massive appreciation. When when when
you buy a house and you mess up and you
buy it wrong, or you make a make an error
about how to value our renovation or how to go
(16:06):
through a process, and it costs the flip money. You
can afford to do that, and you can take risks
and you can miss on some When the market is
hitting massive appreciation, you know, you overpay for a house,
but in the six months you own it it goes
up ten percent. You're you're fine. When the market is
cooled off, you've got to be a lot better at it.
So if if you know, if someone wants to teach
(16:28):
you how to flip real estate, and the only thing
that they know how to do is flip during a
hot market, or the only time they were successful is
in a hot market. You probably don't want to learn
from them. Now is actually a perfect opportunity to learn
how to flip real estate when the market is flat,
because if you can get good at it when the
market's flat and make and do and make you know,
(16:48):
a return on investment and still deliver value to the
seller you're buying the home from because they get a
quick exit and they get to move on and they
don't have to go jump through the hoops of the
repairs and and all that, you can get really really
good at it when the market's hot and do even better.
And that's why I'm encouraging you know, people right now,
if they've thought about getting into that side of the business,
(17:09):
the best time to get into that side of the
business is in a flat or not massively rising value
market because you learn the fundamentals and you get really
good at it, and then when the market is in
a better place, you get better returns. But you're better
at it, you're you're safe, you're protected from the downswings
in the market. And so I know so many people
(17:29):
were like, oh yeah, man, in twenty twenty, I was
flipping all these homes and I got out of the business. Aka,
they weren't really good at flipping houses. They were just
good at buying the assets, and the market was giving
them the wins. If you're really good at buying the
assets and adding value, controlling your cost, and renovating the
right things, you can succeed as a home flipper in
(17:51):
any market. So now is a great time to learn.
So if you're a real estate agent, you've never learned that,
or you only learned it from people to stop doing
it when the market turned because they weren't really good
at it, it was the market delivering them the returns.
Then now would be a great time to look into
joining a place that will teach you that, especially in
a market like now. If you learn it now and
you can operate and when at a time when the
(18:13):
margins are compressed, when taxes and insurance are at their highest,
when you expenses are at their highest, and the prices
have it moved up, then when the market does go
up with prices, you'll make even better returns and find
even more opportunities. But you won't get stuck. And a
lot of people, a lot of home flippers get out
and got crushed with leverage because they gambled too much,
(18:35):
and they thought they believed their own pr they thought
they were good at what they were doing, when in
reality it was the market delivering them returns. I've always
joked like there are people that'll talk about, oh, I
did so great in the stock market this year. Well, yeah,
it was a really up year. Everyone did good. You know,
it ain't that hard to do good in and up year.
Talk to me about how you do how great of
an investor you are in a down year? What you're
(18:55):
able to accomplish then, And that's I think the true
test of someone that's talented at something is, uh, they're
good in the up and the down. And that's what
we offer. So if you're if you're real estate agent,
you're thinking about that as an opportunity, we would love
the opportunity to talk to you. Were always teaching and coaching.
Our agents do the same thing. We have lots of
our agents and invest in flips with us. So again,
(19:16):
join the duo dot com or hit us up on
any of our socials at the Duncan Duo. And if
you're a home seller and you know what you want
to sell to somebody that you know is going to
flip the house because you don't want to do the work.
You don't want to you've had it on the market.
Maybe you had a bad agent. Maybe that agent overpriced it,
maybe they didn't do the right marketing. Maybe you know,
whatever that reason is. If you are frustrated your home
(19:40):
didn't sell and it needs and or it needs work,
or maybe you inherited a home, just go to Duncan
Duo dot com. Fill out the home the Home Evaluation
form or the Instant Cash Offer form. Very easy to
fill out. You should auto populate most of the things
from your phone. Again Duncan Duo dot com for a
quick instant cash offer for a home that you just
(20:00):
don't want to deal with anymore. And we'll be back
after a quick break here on the Duncan Duo Real
Estate Show. So back here on the Duncan Duo Show
talking about the Tampa Bay real estate market. Andrew Duncan
the Duncan Duo c MLPT Realty at the Dunkin Dubo
all social channels. Follow me there. You can follow me
on my personal channels too. I'm Andrew Duncan with the
blue check mark on Facebook and at the Andrew Duncan
(20:21):
on Instagram. Though I have barely posted social media in
a while, I've actually really just enjoyed being off of
social media. I've probably spent more time on groc and
X lately in terms of the time I spent on
my phone just learning AI and then and then. I
just like the ex social platform. It's it's kind of
more my style, more financial, more intellectually driven learning, whereas
(20:44):
I feel the other social media channels have just kind
of gone downhill in a lot of ways. I just
get tired of seeing all the negative, complaining people, and
you know, it's just not my thing. So you can
follow me on those channels, but I probably you won't
see me posting a ton lately. I've got to get
better at that. I even told my team this week
that I was slacking on social media and needed to
get better at it. I saw an article though, it
(21:06):
says how to apply real estate business skills to your
marriage for success in both. And I'm not going to
cover that one because I'm definitely not the expert at
that one. So but but I did want to talk
about you know, people that are you know, selling their
home and they are looking at the kind of the
(21:26):
steps that they have to go through when they put
their home under contract. A lot of people don't understand that. Unfortunately,
the real estate transaction has a lot of a lot
of obstacles that you have to go through. And so
if you're a first time home seller, you've not sold
a home in a while, this would be a great
opportunity to listen, because I think it's important to know
(21:47):
the steps that happen after your house gets under contract. Now,
I'll go ahead and skip the part about all the
marketing and the showings and the inconvenience and the photos
and the people that don't take their shoes off or
leave your door unlocked, or that run you drive through
your yard mistakenly when they park in your driveway, or
(22:08):
they show it on a rainy day and they track
dirt throughout your house. Like when you put your house
on the market, you have to understand you're accepting a
certain level of inconvenience. It no longer is your house.
It is a product for sale. Let me repeat that.
When your house is on the market, it's no longer
your home. It is a product for sale. You have
(22:30):
to emotionally detach and think about it like it's an investment.
And I know that's hard for a lot of people,
but it putting your mindset in that place will give
you the best opportunity at success and happiness while your
house on the market. But let's talk about what happens
when your house goes under contract. First and forebost a
buyer is going to put up an s GROW deposit.
(22:52):
That s grow deposit is not your money and it's
not their money. It's the transactions money. That deposit is
what binds the contract. That is the buyer's risk. That
is what the buyer is willing to risk to go
through and inspect your home as people walk through potentially
damage something rare, but it happens, an inspector damages something
(23:14):
or the buyer defaults okay, whether it's for a reason
the contract gives them or a reason they don't. That
escraw money sits in there and is credited towards the
closing as long as closing happens. If closing doesn't happen,
then there is a process for handling how that ESCO
deposit gets dispersed. Does it go back to the buyer
because the buyer had a rightful reason to cancel the
(23:35):
contract based on the terms, or does it go to
the seller if the buyer cancels for something that the
contract doesn't allow them to cancel for, or they both
disagree and then it goes to a dispute and then
they fight over it. So those are the things that
can happen with the ESCO deposit. The next step is
going to be the inspection. The buyer is typically going
to hire a home inspector, maybe even potentially a contractor
(23:57):
who's going to come out to the property and thoroughly
look through everything to determine what may need to be repaired,
what is a code violation or a potentially a four
point insurance obstacle, or maybe what's deferred maintenance or what's
simply cosmetic. They're going to create a report and they're
(24:18):
going to let the buyer know all the things that
are wrong with your house, and let me tell you,
it will be a long list. There is no such
thing as a house that doesn't have things wrong with it. Okay,
it will have a long list of things wrong with it.
Now again, even if it's brand new construction. Now, a
lot of those things could just simply be cosmetic or
deferred maintenance, or simple fixes or minor economic issues. Sometimes
(24:44):
they can be bigger things. What ensure what happens after
that inspection depends on what type of contract you have.
The buyer can either cancel the contract based on inspection
or move forward, or if it's allowed in the contract,
then there's a renegotiation that ensues. It could be something
like the buyer wanting money so they can take care
of those repairs. It could be the buyer wanting to
(25:06):
change the price because of those repairs. It could also
be the buyer wanting you to fix certain things, some
or all of a certain list of items. So every
contract's unique and different, but that's kind of you know,
the step. Once you get through the inspection step, then
you're going to go to insurance and appraisal. Okay, So
(25:26):
insurance needs to be bound, and the insurance agent will
sometimes need to see the inspection report or need to
know if certain items were repaired. Sometimes they're required to
be repaired in order for insurance to be bound. And
then after insurance is cleared up and taken care of,
then typically you're going to have an appraisal. The appraisal
(25:47):
is going to also look at the condition for any
items that the lender may be concerned about. You know, anytime,
the more valuable property, the more particular a lender could
be concerned about certain condition items. But sometimes the lender
will want to see inspection or not. The lender, the
(26:08):
appraiser will want to see inspectual works, sometimes not. But
the appraiser is also looking for those four point items.
They may inspect the roof, they may think that there's
issues with the roof. They they may do some of
those things. But the appraiser's main job is determine the
market value of the property and ensure that the lender
is not loaning more than the home is worth. There
(26:29):
are contingencies and the contracts typically for appraisals. If the
appraisal comes in less than the price, there's a few
renegotiation things that can happen. If the appraisal comes in
at or above, then you're good with the appraisal and
you move forward towards closing and the last step of
And if the appraisal is short, then it's either the
buyer making up the difference, the price being reduced, or
(26:50):
some sort of negotiation that meets in the middle. Then
you know, all throughout that process there is buyer asking
questions for utilities and buyer needing acts has to take
measurements and get up, get things set up, and towards
the end you're then going to have the closing. And
the closing is the title work is being done throughout
(27:11):
that time to ensure that the title is free and
clear of defects, that any leans have been taken care of,
that any sometimes depending on the title company, whether there
are utility liens on the property, or pass due bills
or permit violations, those are all things that can get
discovered by title companies. If all of that gets cleared,
then you had the closing. And this is one part
(27:33):
of the real estate transaction. Not a lot of people
get and it causes a lot of frustration and people
don't understand. Everyone goes and signs their closing documents, but
you're not closed yet. You're not closed until the money
has happened. So there are times where we have what's
called a dry closing, and it's really unfortunate when it
happens on a Friday, but everyone signs and agrees, but
(27:55):
maybe it happened late in the day and maybe the
lender didn't get the money. Why didn't get the package
in time? So then the wire doesn't hit, and now
we technically do not have a closing because the seller
hasn't been paid. No one's been paid, the money hasn't transacted.
So in addition to signing all of the documents on
(28:15):
boat with both parties agreeing to all of the documents,
a walk through inspection being done. Not always done, but
it should be ensuring the property has stayed in the
same condition. The last thing that can hold a closing
up from formally being finalized is the money. If the
money doesn't show up, you do not have a closing,
and there have been some massive litigious issues where things
(28:40):
like that happened. Buyer moves into house, seller allows it,
money doesn't show up Monday, or home gets damaged and
then money doesn't show up, or something happens, or it's
some crazy story happens, the house burns down. So it's
why as real estate agents and you know, partnering with
(29:03):
title companies and mortgage companies, were always very cautious to
make sure people understand you don't have a closing until
the money is hit, until the wires have hit until
everyone's got their money, and you know, it's not closed
until that happens. So if you know, if the seller
hasn't been paid, you don't get the access to house.
So we oftentimes have buyers on Friday that are very
frustrated because they did their part, but then their lender
(29:26):
doesn't get the money over and then they don't have
a closing, so they're homeless for the weekend with stuff
sitting in you know, with things sitting in storage or
on a truck that they got to pay for. So
one of the best pieces of a dice I learned
early in my real estate career and it's something that
I still encourage all of our agents today. In fact,
doing this segment on the show is going to remind
(29:46):
me to remind them. Don't close on Friday, don't close
on the last day of the month. Close close earlier
than the last day of the month, and close on
the in the middle of the week. Okay, that prevents
you from getting stuck two days with having client upset you.
So you know, buyers and sellers, if you're out there
negotiating contracts, I promise you it is one of the
(30:07):
worst situations to deal with if you get to a
Friday and it doesn't close on time, and then you're stuck,
and then the buyer doesn't have anywhere to live, and
then everyone's angry for the weekend. And who are they
angry at. They're angry at the real estate agent, They're
angry at the title company. So pick your closing dates
on the in the middle of the week, away from
holidays and away from the last day of the month.
(30:28):
The last day of the month is one of the
worst days in real estate to close, or up against
the holiday, you know, if you're up against like you know,
the day before Christmas, the day before Christmas Eve, those
are horrible times to close real estate. They are horrible
times because there's so many people off or they're checked out.
You know, the title company is operating on a skeleton crew,
same with a mortgage company, so stuff doesn't get done
(30:49):
as quick. So Holidays, Fridays, the end of the month,
those are days that you want to avoid, and if
you do that, you'll have a better chance of avoiding
some of the risky scenarios or some of these heated
obstacles when the closings don't happen and people are homeless
for a couple of days, having to stay in a hotel,
(31:09):
and then sellers are stuck not having their money, not
being able to close on the house they want to buy.
So the easiest way to avoid that that couple day
hangover is again don't close on Friday and don't close
at the end of the month. So hopefully that's helpful
for you and with you your real estate tips. If
you're not getting out of ice from your broker, Hey,
(31:31):
we would love to have you come shadow our team.
You can follow us on social media at d Duncan
Duo send us a DM ask to come to one
of our meetings. You can come to our Wealth Building
Wednesday's class that I teach every other week in our office.
You can also apply for any one of our open
positions at Jointhduo dot com. Again that is joined the
(31:53):
duo dot com. In addition to applying, you can actually
set a calendarly appointment to have a confidential consultation with
us business building opportunity to determine what you can do
to improve your business and your career. In twenty twenty six,
so I'm gonna be back wrapping up the last segment
after a quick break here on the Duncan Duo Show.
So back here on the Duncan Duo Show talking about
(32:14):
the Tampa Bay real estate market. Andrew Duncan, the Dunkin
Duo team LPT Realty at the Dunkin Duo Twitter, Instagram, YouTube, TikTok.
I'm saying Twitter, I need to start saying x It's
not Twitter anymore, it's x so x, Instagram, Facebook, TikTok YouTube.
We're there at the Duncan Duo. So, if you own
(32:34):
a home and you have a mortgage that's above seven percent,
and you have an FHA or VA mortgage, you should
really look at doing a streamline refinance. Rates have come down.
There are government products in the fives now you're doing
a refinance will save you money, massively save you money.
(32:54):
Great opportunity to just simply reduce your payment. You know,
I'm a big believer that, like at the end of
the year, in the beginning of the year, I always
encourage people, Hey, shop your insurance, shop this shop that
shop your mortgage rate. There are a lot of people,
and I know I have a two hundred and nine
thousand person database. Okay, two hundred and nine thousand people
(33:14):
in my database from twenty years twenty plus years of
marketing real estate in Tampa Bay, and I can see
there are mortgage rates and there are a lot of
you guys out there that have mortgage rates above seven
that don't need to have mortgage rates above seven. So
you just go to citywide Tampa dot com. And here's
the cool part. If you have a VA or FHA mortgage,
you don't actually have to qualify. You can be unemployed,
(33:34):
you don't have to your home doesn't have to appraise
if it's less than if it's worth less. Now it's
a streamline. It's literally like the easiest refinance you've ever
seen in your life. It's like lower, it's just lower
in your payment. So great opportunity for people out there
with FHA and VA mortgages to reduce. If your rate
is in the sevens, you should definitely be looking at
it now, even if you're going to wait until later
(33:57):
in the year to get it even lower potentially if
you if you can, maybe that's a possibility, but at
least get started on it now and be ready for
when the rates drop. Because here's the other part about this. Okay,
do it now, even if you're not going to refinance
now just to have everything in and ready. So when, so,
when the right opportunity to lock the rate on your
(34:18):
refi opens up, Melissa Oscar Morgan on my team at
citywide Tampa dot Com can can lock it in. Because
here's what a lot of people don't understand. They don't
understand how mortgage rates work. Oh, the Fed's cutting rates.
After they cut the rate, let me call you missed
it because you don't understand how the economy works. You
don't understand the economics of FED rates in terms of
(34:40):
how they don't necessarily directly impact mortgage rates and how
the markets move ahead of them because they're based on
treasury rates that move ahead of the FED cut. So
get your stuff in now and then let the pros
and the experts and the financial experts handle when, how
and where to lock your rate. If you're in the sevens,
you should. You should hit citywide Tampa dot com you
and save instant money. You can save it fast, or
(35:03):
you can wait and play the game to wait for
rates potentially to drop a little bit more in twenty
twenty six if you don't want to cut it now. So,
but there are a lot of people out there, and
I'm amazed at how many people are out there. Also,
great opportunity to refinance if you want to get rid
of your PMI potentially even looking at doing a cash
out if you wanted to, you know, if you if
you wanted, if your home is worth more and you
(35:24):
were thinking about maybe a line of credit or something
like that. So again, Citywide Tampa dot Com also having
more customers reach out to us that are in short
sale situations. I want to touch on before the show
wraps today. You know, we have a massive amount of
short sale experience through the years. We've sold hundreds of
homes where we've had to negotiate with the bank to
(35:46):
allow our seller to get out of a home without
paying anything and getting the house you know, sold, even
though they owe more on it thun's worth. If you're
in that position, if you're behind on your mortgage, if
you've got foreclosure notices, if you've thought about just letting
it go, filing bankruptcy, oftentimes the short sale can make
(36:08):
more sense to your overall recovery. Certainly, always talk to
your attorney if you're working with one, to make sure
it's the right call for you. It's not always, but
most times it is. But we have a massive amount
of experience with short sales and would love to help
you with that getting the property on the market at
(36:28):
no cost to you. Our services. If you're in default
and you're looking to a short sale and you're looking
to sell it for less than it's worth, our services
are at no cost to you. Okay, We do not
charge you anything. Okay, the bank is going to pay
our fee. We're going to negotiate with the bank what
our fee ends up being. So if you are, you know, again,
if you're in distress, if you are somebody that you
(36:52):
know has got a move, maybe a military move, and
your home is worth less than what you owe on it,
those are all great opportunities for someone looking at potentially
doing a short sale. And I would be willing to
bet that my team through the twenty years, especially period
of time when we were in the Great Recession, has
done way more short sales than anyone else. I can't
(37:19):
think of anyone that's potentially done more, especially over the
long haul for us. I mean there were years that
we did lots and lots and lots of them, so
we still have that experience. We still have the title
company relationship the same the same people that did them
back in the day for us in terms of the negotiation,
and again no cost to you as a seller. So
if you are thinking about it, if you're in distress,
if you're behind on your you know, if you're behind
(37:42):
on payments, if you're you know, getting moved and you
know you can't rent it for what you can cover,
or if you're all of those things are reasons to
look at doing a short sale. So the easiest way
to do that just go to dunkin duo dot com.
Probably you can do a home value estimate, but if
you're pretty confident that you're in that you're in, you know,
you're either in default or the less of what it's worth.
(38:03):
There is actually when you go to dunkin doo dot com,
there's actually a point where you can set an appointment
with us. There's a calendarly link in there where you
can literally just go on and plug in an appointment
and we come out and do a consultation. That would
probably be the best path simply because it's going to
require a little bit more consultation than a regular home
seller that has equity. So go on to dunkin doo
(38:23):
dot com, set an appointment from there and one of
our experienced short sell agents will come out and talk
to you and see how we can help. So hopefully
you've enjoyed listening, happy to start the new year with
my first show of the year, and have an awesome
my first live show of the year, not the first
show of here, first live show the Here. Have an
awesome rest of your weekend in Tampa Bay
I'd be Sunday, Tampa Bay. We're with you for another
(00:02):
week here on the Duncan Duo Real Estate Show, like
we are every Sunday at ten here on NewsRadio WFLA News.
Excited to be back live on the air. In case
you didn't notice, the last couple of shows were some
reruns as I took some time off to recharge during
the holidays and vacation a little bit and spend some
time with my family. And there has been a lot
(00:22):
happened in the last couple of weeks with the real
estate market. You know, I need predictions before Christmas about
what I expected. I'm going to touch on that a
little bit today in terms of what do I what
I expect to happen with the Tampa Bay real estate
market in twenty twenty six. But I want to lead
off today and again it's Sandrew Duncan, the Duncan Duo team,
(00:43):
LPT Realty at the Duncan Duo Twitter, Instagram, YouTube and
TikTok Duncan Duo dot com for your free home value
estimate or an instant cash offer on your home. But
I want to start today talking about what President Trump
put on truth Social this week about how he is
going to take executive action to reduce, to eliminate large
(01:05):
hedge fund institutional investors from buying single family homes. And
I want to talk about the impact nationally and then
talk about the impact in Tampa, because what I can
appreciate about President Trump is that the last few weeks
you've heard a lot of conversation from him about housing
reforms and wanting to improve the housing market. And you know,
(01:27):
I appreciate that he's that he's taking action. I appreciate
that he is looking at solutions. I mean, we've heard
things like portable mortgages. We've heard the possibility of a
fifty year mortgage. These are things that shirt certainly could
have an impact, but probably a pretty minimal impact for
the most part, but some impacts, you know, a combination
of a lot of these things that he's doing could
(01:48):
have could could move the needle some. But the hedge
fund buying prohibition, I want to talk about the impact
of it nationally first, and then I want to talk
about what it means for Tampas. So nationally, I think
it's mostly a nothing burger. The reality is that the
institutional investors own less than two percent of the homes
in the country. They are not the big bad wolf
(02:10):
that you might feel like they are, simply because they're
just not buying as much anymore. If this legislation, executive action, prohibition,
whatever you want to call it, would have happened during
the COVID years when they were heavily buying, or even
slightly before that, it could have maybe had an impact
because there were years where they were gobbling up a
(02:31):
lot more of the inventory. But in today's world, the
numbers that cap rate numbers to turn a single family
home into a rental in a lot of markets just
don't make sense. The rent numbers haven't risen enough with
the increase in property taxes, prices, and insurance for it
(02:52):
to make sense for most of these institutional investors that
can put money in other projects. So the reality is
is even though they they own too and upwards of
five percent, some people say, in some markets, the reality
is is there most of that was bought a long
time ago. They're not buying very much anymore, and a
(03:13):
lot of the inventory they acquired was from many many
years ago. So if there was some sort of incentive
to get them to release or sell off some of
their inventory to buyers. Then maybe I could see some
improvement in the market and some inventory coming on. But
preventing these hedge funds from buying homes this market, they're
just not They're not looking in this market and buying
(03:34):
up swaths of homes because it doesn't make financial sense.
They can't buy them with the rates where they are,
with insurance where it is, with property taxes where it is,
and rent them and make money that is gone. Any
smaller investor, including myself, that loves to look at real
(03:55):
estate as an investment, knows that you're not out there
unless you can steal a house. You're not out there
buy at homes and making great cap rates on single
family home rentals today. So for the most part, across
the country, great big nothing burger. Now again, is it
heading in the right direction? Are we poking around enough
(04:16):
and maybe going to find a few things that will
help fuel it? You know? Possibly? The reality is the
only thing that's going to move the real estate market
in a really positive heavy way is going to be
tax relief because so many home sellers sitting on homes
that they don't want to sell or but they don't
want to upgrade because of either property tax or cap gains,
(04:38):
you know, or and insurance costs. That would certainly help
some Some tax regulatory changes, I think interstrates Obviously affordability
would wake up more buyers. Even though we've seen interest
rates drop, they're going to continue, likely to drop some
more this year. A new FED chief later in the
year is likely to move forward some rate cuts. But again,
(04:59):
the bond market in the ten year treasuries are really
more of what mortgage rates. They don't completely correlate with
the FED. There have been FED movements that didn't lower
mortgage rates, so it's not a complete it's not completely interconnected.
So some of the things he's going to do, a
whole broad scope of a lot of things he does,
(05:20):
may end up putting our real estate market back in
a better place. Any one of these things that he's
talking about, though, is going to have pretty negligible impact.
So again, hedge funds just nationally just are not buying
enough homes and having it make enough sense. They're not
out there competing. If you're a home buyer right now,
you're not really competing with these hedge funds anymore. Their
(05:42):
buybox is really small. What they can buy is really small.
They're not buying swaths of inventory like they used to.
They can't make money on it. They just can't. They
own a lot. Now, if President Trump has listened to me,
which I highly highly highly doubt it, if President Trump
really wanted to do something with the hedge funds, he
would maybe encourage some sort of tax incentive to convince
(06:06):
them to sell off some of their inventory, bring inventory
onto the market. That could certainly help. Other things that
would help, you know, obviously building regulations creating more housing,
allowing home builders to build more quickly. I know that
there is some executive action being put into place to
(06:26):
slow down the regulations on data tech center AI data
centers being built and electrical grid construction. If somehow there
was some sort of cooperation between the FED and the
States to improve and quickened building regulations, that could potentially
help in the long term. But obviously that's not going
(06:48):
to move the needle quickly. So all in all, a
lot of really very very very minimal impact. Now, where
this could have more impact is in cities like Tampa,
like Phoenix. You know, these are like parts of Texas.
These are areas where the hedge funds are a little
(07:09):
heavier in terms of buying now not as much as
they used to because the numbers don't work as much here.
And what what I think President Trump is, what is
legislation went at or not as legislation, What does executive
action proposed executive action win? That was really the the landlords,
the people are buying and turning him into rentals and
(07:31):
owning them, and he wants to reduce that. Now, what
Tampa does have. We do have a lot of institution
buyers here, but they're buying and flipping and that's not
really taking homes off the market for the end user buyer,
because the end user buyer is going to have a
hard time buying that house. I'm fixing it up. It's
just it's not that they're not the same they're not
(07:51):
buying the same product for the most part, especially a
first time home buyer. So so you saw in the
stock market some of the stocks of the institutional buyers,
like like an open Door for example, get beat up
pretty hard, even though that's not really what Trump's targeted at,
the open door concept. And some of those companies they buy,
fix up and then still end up passing that home off.
(08:12):
A few months later to it end user buyer, So
it's not really taking inventory. Those institutional investors and buyers
aren't really taking away inventory from home buyers. They're just
improving the inventory and then turning it over. So he
really seemed to attack the ones that are buying and landlording.
And even though there are a lot of homes owned
by you know, Blackstone, invitation homes, American homes for rent
(08:35):
in the Tampa Bay market, they're not buying much anymore.
So I think he's heading in the right direction. My
hope is that he'll work on some sort of opportunity
instead of preventing them to buy and putting restrictions in place,
because I just don't love the government oversight. I don't
think it does a lot to help, you know. I
(08:55):
would rather him look at incentives to try and encourage
maybe less buying, but more selling from a from a
tax benefit standpoint to some of these institutions, and I
think you could see some inventory. The biggest issue is
affordability and inventory. That's really where it's at. You're not
necessarily impacting affordability by telling hedge funds that they can't
(09:16):
buy homes when they're not really buying as many homes.
They're not really buying many like they used to, and
you're not really impacting more homes coming on the market
by eliminating a buyer. And that's not really competing with anyone.
So the big bad Wolf hedge funds that have been
labeled that was probably you know, twenty twenty, you know,
(09:38):
twenty twenty one. I was five years ago that that
was an impact in her market. So again I think
there is some you know, there are some positive things
a president's doing. I think he's poking around and trying
to discover maybe a you know, maybe a policy list
of several things that could have some positive impact. But
(09:58):
the reality is it's you know, improvement of regulatory to
allow builders to build quicker. It's incentives for buyers and
making it more affordable, and you know, creating inventory that
is needed by home buyers. Home buyers will get excited
to have more inventory. So all of those things I
(10:20):
think could in conglomeration have a positive impact. And so
I mentioned this before the holidays. What do I predict
is going to happen in Tampa in twenty twenty six.
I think it's going to be a really good year.
Compared to last year, We've got population growth back, we're
further away from the hurricanes. I can think across the
country it's going to be pretty flat and not not
(10:43):
a huge upswing. But I think Tampa's going to see
a little bit more of that because so much of
our twenty twenty five was negatively impacted, especially at the
start of the year by the hurricane hangover all the
storms that were all the homes that were damaged, all
the buyers that were displaced, and then of course the
population growth that was shocked by people in late twenty
four and early twenty five that didn't want to move
here because they didn't want to move back to a ward,
(11:04):
they didn't want to move into a war zone basically
of homes that were just destroyed and distressed and business
is not open. And now that we're another year past that,
if we can get through this year without major hurricane impact,
I think twenty twenty seven has a shot at being
a record breaking year with some interst rate relief. So
I think twenty twenty six I'm super bullish on it.
I think we're gonna have a good year in Tampa again,
(11:26):
a better year than last year. A better year in
Tampa than a lot of markets across the country, simply
because of the you know how bad twenty five was
was a lot of the impact. People don't realize. If
you pull out the hurricane distress sales, our home valleyes
actually went up last year. But when you throw those
back in, people are like, oh, Tampa saw depreciation last year. Well, yeah,
(11:49):
because you had a lot of five hundred thousand dollars
houses sell for three hundred thousand because they were flooded.
When you remove those, our prices actually appreciated. So I think,
you know, more of those get cleaned out, appraisals start
looking better, and we get some interest rate relief, maybe
even some property tax relief. I know there are a
lot of people listening right now rooting for that. I
am one of them. I think it would be hugely
(12:11):
positive for Tampa Bay's real estate market if we get
a bill on the ballot to abolish or dramatically reduce
homestead property taxes. Now that wouldn't go into effect until
twenty seven, but just the fact of getting it onto
the ballot I think will cause some buyers to jump
off the fence and anticipation that it passes, and I
(12:33):
think there is a relatively good chance that it does.
I'm pretty optimistic that it will. It's just a matter
of getting it onto the ballot and then a sixty
percent super majority vote. And I believe the people that
vote in those elections tend to steer very anti tax
So I think there's a really good chance that it
does pass, and I'm hopeful for that. So we'll see
(12:56):
how that goes. That could be very, very very positive
for our real estate market as we get closer to
the end of the year when that ballot would be announced.
So and that obviously would not impact taxes in twenty
six it would be for next year. But nonetheless, the
announcement of that I think would be super optimistic. So
we're going to continue this conversation about the Tampa Bay
real estate market after quick break here on the Duncan
(13:16):
Duo Real Estate Show. So we're back here on the
Duncan Duo Show talking about the Tampa Bay real estate market.
You know, I get this question a lot, and it's
something that you know, again, Andrew Duncan the Duncan Doo
tmlpt Realty at the Dunkin Duo. Duncan Duo dot com
for your home value or quick cash offer. I get
a lot of questions about house flipping. You know, we
are at my company, we still I mean, I am
(13:39):
constantly remodeling, renovating and putting homes on the market that
we buy through our funds and different things. And I
think we've got a bunch on the market right now.
We've got many coming. One of the things that is
unique about my real estate company is not only do
we bring agents on and we help them, you know,
become salespeople. We coach them in terms of how to
(14:00):
how to get started in flipping homes and not wholesaling them.
We don't do wholesales, you know, as a core part
of our business. But the reality is is that there
are a lot of agents out there worried about what's
going to happen with AI. Hey, is AI going to
replace me? Is AI going to replace agents? Is AI
going to change our industry? The answer to that is yes,
(14:21):
it is going to replace some agents, especially the bad
ones that don't do a really good job for the clients.
It is going to have a massive impact on our industry.
It's going to change things. But AI can't fix up
a house. So we're constantly educating and teaching our agents
how to spot those opportunities and then how to renovate
and add value to home, and then how to profit
from that. So it's one of the unique things about
(14:42):
joining my company is in addition to teaching how to
work with buyers, teaching you how to work with sellers
based on a twenty year track record, we're also teaching
you how to be an investor in how to build wealth.
So if that's something that's of interest to you, if
you're a real estate agent, you're listening and you're not
getting that from your brokerage. You're not getting that one
on one opportunity to learn from you know somebody you
know wealthy that has has mastered investing in real estate.
(15:03):
Go to join the duo dot com. Shoot us a message,
you can copy, you can you can shoot into any
of our social media platforms and send us a message.
We'd love to invite you to one of our classes
or maybe one of our meetings, just to kind of
test us out and see what we do. But house
slipping activity is cooling, and so it is at a
(15:25):
couple of year low. It looks like about three hundred
thousand homes across the country. We're flipped nationwide in twenty
twenty four, down seven seven point seven percent from twenty
three and down more than thirty two percent from twenty two. Now,
when the market isn't showing as much appreciation, you have
to be a lot better at it. You got to
get a better deal, and you've got to be better
(15:46):
at renovation costs. Because when the market is rising and
we're seeing these years back like a few years ago,
where we saw, you know, massive appreciation. When when when
you buy a house and you mess up and you
buy it wrong, or you make a make an error
about how to value our renovation or how to go
(16:06):
through a process, and it costs the flip money. You
can afford to do that, and you can take risks
and you can miss on some When the market is
hitting massive appreciation, you know, you overpay for a house,
but in the six months you own it it goes
up ten percent. You're you're fine. When the market is
cooled off, you've got to be a lot better at it.
So if if you know, if someone wants to teach
(16:28):
you how to flip real estate, and the only thing
that they know how to do is flip during a
hot market, or the only time they were successful is
in a hot market. You probably don't want to learn
from them. Now is actually a perfect opportunity to learn
how to flip real estate when the market is flat,
because if you can get good at it when the
market's flat and make and do and make you know,
(16:48):
a return on investment and still deliver value to the
seller you're buying the home from because they get a
quick exit and they get to move on and they
don't have to go jump through the hoops of the
repairs and and all that, you can get really really
good at it when the market's hot and do even better.
And that's why I'm encouraging you know, people right now,
if they've thought about getting into that side of the business,
(17:09):
the best time to get into that side of the
business is in a flat or not massively rising value
market because you learn the fundamentals and you get really
good at it, and then when the market is in
a better place, you get better returns. But you're better
at it, you're you're safe, you're protected from the downswings
in the market. And so I know so many people
(17:29):
were like, oh yeah, man, in twenty twenty, I was
flipping all these homes and I got out of the business. Aka,
they weren't really good at flipping houses. They were just
good at buying the assets, and the market was giving
them the wins. If you're really good at buying the
assets and adding value, controlling your cost, and renovating the
right things, you can succeed as a home flipper in
(17:51):
any market. So now is a great time to learn.
So if you're a real estate agent, you've never learned that,
or you only learned it from people to stop doing
it when the market turned because they weren't really good
at it, it was the market delivering them the returns.
Then now would be a great time to look into
joining a place that will teach you that, especially in
a market like now. If you learn it now and
you can operate and when at a time when the
(18:13):
margins are compressed, when taxes and insurance are at their highest,
when you expenses are at their highest, and the prices
have it moved up, then when the market does go
up with prices, you'll make even better returns and find
even more opportunities. But you won't get stuck. And a
lot of people, a lot of home flippers get out
and got crushed with leverage because they gambled too much,
(18:35):
and they thought they believed their own pr they thought
they were good at what they were doing, when in
reality it was the market delivering them returns. I've always
joked like there are people that'll talk about, oh, I
did so great in the stock market this year. Well, yeah,
it was a really up year. Everyone did good. You know,
it ain't that hard to do good in and up year.
Talk to me about how you do how great of
an investor you are in a down year? What you're
(18:55):
able to accomplish then, And that's I think the true
test of someone that's talented at something is, uh, they're
good in the up and the down. And that's what
we offer. So if you're if you're real estate agent,
you're thinking about that as an opportunity, we would love
the opportunity to talk to you. Were always teaching and coaching.
Our agents do the same thing. We have lots of
our agents and invest in flips with us. So again,
(19:16):
join the duo dot com or hit us up on
any of our socials at the Duncan Duo. And if
you're a home seller and you know what you want
to sell to somebody that you know is going to
flip the house because you don't want to do the work.
You don't want to you've had it on the market.
Maybe you had a bad agent. Maybe that agent overpriced it,
maybe they didn't do the right marketing. Maybe you know,
whatever that reason is. If you are frustrated your home
(19:40):
didn't sell and it needs and or it needs work,
or maybe you inherited a home, just go to Duncan
Duo dot com. Fill out the home the Home Evaluation
form or the Instant Cash Offer form. Very easy to
fill out. You should auto populate most of the things
from your phone. Again Duncan Duo dot com for a
quick instant cash offer for a home that you just
(20:00):
don't want to deal with anymore. And we'll be back
after a quick break here on the Duncan Duo Real
Estate Show. So back here on the Duncan Duo Show
talking about the Tampa Bay real estate market. Andrew Duncan
the Duncan Duo c MLPT Realty at the Dunkin Dubo
all social channels. Follow me there. You can follow me
on my personal channels too. I'm Andrew Duncan with the
blue check mark on Facebook and at the Andrew Duncan
(20:21):
on Instagram. Though I have barely posted social media in
a while, I've actually really just enjoyed being off of
social media. I've probably spent more time on groc and
X lately in terms of the time I spent on
my phone just learning AI and then and then. I
just like the ex social platform. It's it's kind of
more my style, more financial, more intellectually driven learning, whereas
(20:44):
I feel the other social media channels have just kind
of gone downhill in a lot of ways. I just
get tired of seeing all the negative, complaining people, and
you know, it's just not my thing. So you can
follow me on those channels, but I probably you won't
see me posting a ton lately. I've got to get
better at that. I even told my team this week
that I was slacking on social media and needed to
get better at it. I saw an article though, it
(21:06):
says how to apply real estate business skills to your
marriage for success in both. And I'm not going to
cover that one because I'm definitely not the expert at
that one. So but but I did want to talk
about you know, people that are you know, selling their
home and they are looking at the kind of the
(21:26):
steps that they have to go through when they put
their home under contract. A lot of people don't understand that. Unfortunately,
the real estate transaction has a lot of a lot
of obstacles that you have to go through. And so
if you're a first time home seller, you've not sold
a home in a while, this would be a great
opportunity to listen, because I think it's important to know
(21:47):
the steps that happen after your house gets under contract. Now,
I'll go ahead and skip the part about all the
marketing and the showings and the inconvenience and the photos
and the people that don't take their shoes off or
leave your door unlocked, or that run you drive through
your yard mistakenly when they park in your driveway, or
(22:08):
they show it on a rainy day and they track
dirt throughout your house. Like when you put your house
on the market, you have to understand you're accepting a
certain level of inconvenience. It no longer is your house.
It is a product for sale. Let me repeat that.
When your house is on the market, it's no longer
your home. It is a product for sale. You have
(22:30):
to emotionally detach and think about it like it's an investment.
And I know that's hard for a lot of people,
but it putting your mindset in that place will give
you the best opportunity at success and happiness while your
house on the market. But let's talk about what happens
when your house goes under contract. First and forebost a
buyer is going to put up an s GROW deposit.
(22:52):
That s grow deposit is not your money and it's
not their money. It's the transactions money. That deposit is
what binds the contract. That is the buyer's risk. That
is what the buyer is willing to risk to go
through and inspect your home as people walk through potentially
damage something rare, but it happens, an inspector damages something
(23:14):
or the buyer defaults okay, whether it's for a reason
the contract gives them or a reason they don't. That
escraw money sits in there and is credited towards the
closing as long as closing happens. If closing doesn't happen,
then there is a process for handling how that ESCO
deposit gets dispersed. Does it go back to the buyer
because the buyer had a rightful reason to cancel the
(23:35):
contract based on the terms, or does it go to
the seller if the buyer cancels for something that the
contract doesn't allow them to cancel for, or they both
disagree and then it goes to a dispute and then
they fight over it. So those are the things that
can happen with the ESCO deposit. The next step is
going to be the inspection. The buyer is typically going
to hire a home inspector, maybe even potentially a contractor
(23:57):
who's going to come out to the property and thoroughly
look through everything to determine what may need to be repaired,
what is a code violation or a potentially a four
point insurance obstacle, or maybe what's deferred maintenance or what's
simply cosmetic. They're going to create a report and they're
(24:18):
going to let the buyer know all the things that
are wrong with your house, and let me tell you,
it will be a long list. There is no such
thing as a house that doesn't have things wrong with it. Okay,
it will have a long list of things wrong with it.
Now again, even if it's brand new construction. Now, a
lot of those things could just simply be cosmetic or
deferred maintenance, or simple fixes or minor economic issues. Sometimes
(24:44):
they can be bigger things. What ensure what happens after
that inspection depends on what type of contract you have.
The buyer can either cancel the contract based on inspection
or move forward, or if it's allowed in the contract,
then there's a renegotiation that ensues. It could be something
like the buyer wanting money so they can take care
of those repairs. It could be the buyer wanting to
(25:06):
change the price because of those repairs. It could also
be the buyer wanting you to fix certain things, some
or all of a certain list of items. So every
contract's unique and different, but that's kind of you know,
the step. Once you get through the inspection step, then
you're going to go to insurance and appraisal. Okay, So
(25:26):
insurance needs to be bound, and the insurance agent will
sometimes need to see the inspection report or need to
know if certain items were repaired. Sometimes they're required to
be repaired in order for insurance to be bound. And
then after insurance is cleared up and taken care of,
then typically you're going to have an appraisal. The appraisal
(25:47):
is going to also look at the condition for any
items that the lender may be concerned about. You know, anytime,
the more valuable property, the more particular a lender could
be concerned about certain condition items. But sometimes the lender
will want to see inspection or not. The lender, the
(26:08):
appraiser will want to see inspectual works, sometimes not. But
the appraiser is also looking for those four point items.
They may inspect the roof, they may think that there's
issues with the roof. They they may do some of
those things. But the appraiser's main job is determine the
market value of the property and ensure that the lender
is not loaning more than the home is worth. There
(26:29):
are contingencies and the contracts typically for appraisals. If the
appraisal comes in less than the price, there's a few
renegotiation things that can happen. If the appraisal comes in
at or above, then you're good with the appraisal and
you move forward towards closing and the last step of
And if the appraisal is short, then it's either the
buyer making up the difference, the price being reduced, or
(26:50):
some sort of negotiation that meets in the middle. Then
you know, all throughout that process there is buyer asking
questions for utilities and buyer needing acts has to take
measurements and get up, get things set up, and towards
the end you're then going to have the closing. And
the closing is the title work is being done throughout
(27:11):
that time to ensure that the title is free and
clear of defects, that any leans have been taken care of,
that any sometimes depending on the title company, whether there
are utility liens on the property, or pass due bills
or permit violations, those are all things that can get
discovered by title companies. If all of that gets cleared,
then you had the closing. And this is one part
(27:33):
of the real estate transaction. Not a lot of people
get and it causes a lot of frustration and people
don't understand. Everyone goes and signs their closing documents, but
you're not closed yet. You're not closed until the money
has happened. So there are times where we have what's
called a dry closing, and it's really unfortunate when it
happens on a Friday, but everyone signs and agrees, but
(27:55):
maybe it happened late in the day and maybe the
lender didn't get the money. Why didn't get the package
in time? So then the wire doesn't hit, and now
we technically do not have a closing because the seller
hasn't been paid. No one's been paid, the money hasn't transacted.
So in addition to signing all of the documents on
(28:15):
boat with both parties agreeing to all of the documents,
a walk through inspection being done. Not always done, but
it should be ensuring the property has stayed in the
same condition. The last thing that can hold a closing
up from formally being finalized is the money. If the
money doesn't show up, you do not have a closing,
and there have been some massive litigious issues where things
(28:40):
like that happened. Buyer moves into house, seller allows it,
money doesn't show up Monday, or home gets damaged and
then money doesn't show up, or something happens, or it's
some crazy story happens, the house burns down. So it's
why as real estate agents and you know, partnering with
(29:03):
title companies and mortgage companies, were always very cautious to
make sure people understand you don't have a closing until
the money is hit, until the wires have hit until
everyone's got their money, and you know, it's not closed
until that happens. So if you know, if the seller
hasn't been paid, you don't get the access to house.
So we oftentimes have buyers on Friday that are very
frustrated because they did their part, but then their lender
(29:26):
doesn't get the money over and then they don't have
a closing, so they're homeless for the weekend with stuff
sitting in you know, with things sitting in storage or
on a truck that they got to pay for. So
one of the best pieces of a dice I learned
early in my real estate career and it's something that
I still encourage all of our agents today. In fact,
doing this segment on the show is going to remind
(29:46):
me to remind them. Don't close on Friday, don't close
on the last day of the month. Close close earlier
than the last day of the month, and close on
the in the middle of the week. Okay, that prevents
you from getting stuck two days with having client upset you.
So you know, buyers and sellers, if you're out there
negotiating contracts, I promise you it is one of the
(30:07):
worst situations to deal with if you get to a
Friday and it doesn't close on time, and then you're stuck,
and then the buyer doesn't have anywhere to live, and
then everyone's angry for the weekend. And who are they
angry at. They're angry at the real estate agent, They're
angry at the title company. So pick your closing dates
on the in the middle of the week, away from
holidays and away from the last day of the month.
(30:28):
The last day of the month is one of the
worst days in real estate to close, or up against
the holiday, you know, if you're up against like you know,
the day before Christmas, the day before Christmas Eve, those
are horrible times to close real estate. They are horrible
times because there's so many people off or they're checked out.
You know, the title company is operating on a skeleton crew,
same with a mortgage company, so stuff doesn't get done
(30:49):
as quick. So Holidays, Fridays, the end of the month,
those are days that you want to avoid, and if
you do that, you'll have a better chance of avoiding
some of the risky scenarios or some of these heated
obstacles when the closings don't happen and people are homeless
for a couple of days, having to stay in a hotel,
(31:09):
and then sellers are stuck not having their money, not
being able to close on the house they want to buy.
So the easiest way to avoid that that couple day
hangover is again don't close on Friday and don't close
at the end of the month. So hopefully that's helpful
for you and with you your real estate tips. If
you're not getting out of ice from your broker, Hey,
(31:31):
we would love to have you come shadow our team.
You can follow us on social media at d Duncan
Duo send us a DM ask to come to one
of our meetings. You can come to our Wealth Building
Wednesday's class that I teach every other week in our office.
You can also apply for any one of our open
positions at Jointhduo dot com. Again that is joined the
(31:53):
duo dot com. In addition to applying, you can actually
set a calendarly appointment to have a confidential consultation with
us business building opportunity to determine what you can do
to improve your business and your career. In twenty twenty six,
so I'm gonna be back wrapping up the last segment
after a quick break here on the Duncan Duo Show.
So back here on the Duncan Duo Show talking about
(32:14):
the Tampa Bay real estate market. Andrew Duncan, the Dunkin
Duo team LPT Realty at the Dunkin Duo Twitter, Instagram, YouTube, TikTok.
I'm saying Twitter, I need to start saying x It's
not Twitter anymore, it's x so x, Instagram, Facebook, TikTok YouTube.
We're there at the Duncan Duo. So, if you own
(32:34):
a home and you have a mortgage that's above seven percent,
and you have an FHA or VA mortgage, you should
really look at doing a streamline refinance. Rates have come down.
There are government products in the fives now you're doing
a refinance will save you money, massively save you money.
(32:54):
Great opportunity to just simply reduce your payment. You know,
I'm a big believer that, like at the end of
the year, in the beginning of the year, I always
encourage people, Hey, shop your insurance, shop this shop that
shop your mortgage rate. There are a lot of people,
and I know I have a two hundred and nine
thousand person database. Okay, two hundred and nine thousand people
(33:14):
in my database from twenty years twenty plus years of
marketing real estate in Tampa Bay, and I can see
there are mortgage rates and there are a lot of
you guys out there that have mortgage rates above seven
that don't need to have mortgage rates above seven. So
you just go to citywide Tampa dot com. And here's
the cool part. If you have a VA or FHA mortgage,
you don't actually have to qualify. You can be unemployed,
(33:34):
you don't have to your home doesn't have to appraise
if it's less than if it's worth less. Now it's
a streamline. It's literally like the easiest refinance you've ever
seen in your life. It's like lower, it's just lower
in your payment. So great opportunity for people out there
with FHA and VA mortgages to reduce. If your rate
is in the sevens, you should definitely be looking at
it now, even if you're going to wait until later
(33:57):
in the year to get it even lower potentially if
you if you can, maybe that's a possibility, but at
least get started on it now and be ready for
when the rates drop. Because here's the other part about this. Okay,
do it now, even if you're not going to refinance
now just to have everything in and ready. So when, so,
when the right opportunity to lock the rate on your
(34:18):
refi opens up, Melissa Oscar Morgan on my team at
citywide Tampa dot Com can can lock it in. Because
here's what a lot of people don't understand. They don't
understand how mortgage rates work. Oh, the Fed's cutting rates.
After they cut the rate, let me call you missed
it because you don't understand how the economy works. You
don't understand the economics of FED rates in terms of
(34:40):
how they don't necessarily directly impact mortgage rates and how
the markets move ahead of them because they're based on
treasury rates that move ahead of the FED cut. So
get your stuff in now and then let the pros
and the experts and the financial experts handle when, how
and where to lock your rate. If you're in the sevens,
you should. You should hit citywide Tampa dot com you
and save instant money. You can save it fast, or
(35:03):
you can wait and play the game to wait for
rates potentially to drop a little bit more in twenty
twenty six if you don't want to cut it now. So,
but there are a lot of people out there, and
I'm amazed at how many people are out there. Also,
great opportunity to refinance if you want to get rid
of your PMI potentially even looking at doing a cash
out if you wanted to, you know, if you if
you wanted, if your home is worth more and you
(35:24):
were thinking about maybe a line of credit or something
like that. So again, Citywide Tampa dot Com also having
more customers reach out to us that are in short
sale situations. I want to touch on before the show
wraps today. You know, we have a massive amount of
short sale experience through the years. We've sold hundreds of
homes where we've had to negotiate with the bank to
(35:46):
allow our seller to get out of a home without
paying anything and getting the house you know, sold, even
though they owe more on it thun's worth. If you're
in that position, if you're behind on your mortgage, if
you've got foreclosure notices, if you've thought about just letting
it go, filing bankruptcy, oftentimes the short sale can make
(36:08):
more sense to your overall recovery. Certainly, always talk to
your attorney if you're working with one, to make sure
it's the right call for you. It's not always, but
most times it is. But we have a massive amount
of experience with short sales and would love to help
you with that getting the property on the market at
(36:28):
no cost to you. Our services. If you're in default
and you're looking to a short sale and you're looking
to sell it for less than it's worth, our services
are at no cost to you. Okay, We do not
charge you anything. Okay, the bank is going to pay
our fee. We're going to negotiate with the bank what
our fee ends up being. So if you are, you know, again,
if you're in distress, if you are somebody that you
(36:52):
know has got a move, maybe a military move, and
your home is worth less than what you owe on it,
those are all great opportunities for someone looking at potentially
doing a short sale. And I would be willing to
bet that my team through the twenty years, especially period
of time when we were in the Great Recession, has
done way more short sales than anyone else. I can't
(37:19):
think of anyone that's potentially done more, especially over the
long haul for us. I mean there were years that
we did lots and lots and lots of them, so
we still have that experience. We still have the title
company relationship the same the same people that did them
back in the day for us in terms of the negotiation,
and again no cost to you as a seller. So
if you are thinking about it, if you're in distress,
if you're behind on your you know, if you're behind
(37:42):
on payments, if you're you know, getting moved and you
know you can't rent it for what you can cover,
or if you're all of those things are reasons to
look at doing a short sale. So the easiest way
to do that just go to dunkin duo dot com.
Probably you can do a home value estimate, but if
you're pretty confident that you're in that you're in, you know,
you're either in default or the less of what it's worth.
(38:03):
There is actually when you go to dunkin doo dot com,
there's actually a point where you can set an appointment
with us. There's a calendarly link in there where you
can literally just go on and plug in an appointment
and we come out and do a consultation. That would
probably be the best path simply because it's going to
require a little bit more consultation than a regular home
seller that has equity. So go on to dunkin doo
(38:23):
dot com, set an appointment from there and one of
our experienced short sell agents will come out and talk
to you and see how we can help. So hopefully
you've enjoyed listening, happy to start the new year with
my first show of the year, and have an awesome
my first live show of the year, not the first
show of here, first live show the Here. Have an
awesome rest of your weekend in Tampa Bay
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