Duncan Duo 10-12-25

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Episode Transcript

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 am here on WFLA News,
excited to talk to you more about what is going
on in the Tampa Bay real estate market. Andrew Duncan
with the Duncan Duo team LPT Realty. We are growing
and we are hiring. If you're a real estate agent
that has struggled, if you're not hitting the sales numbers

(00:24):
that you want, if you need more coaching and accountability,
please go to join the Duo dot com again. That is,
join the Duo dot Com. You can register for our
Career Night, you can apply for any one of our
open positions, and you can schedule a confidential consultation through
our calendar link and get the details about what it

(00:45):
is that we look for when we're adding some of
our teams. So, if you are thinking about real estate,
if you are in real estate not hitting the numbers
that you want to hit, again, that is join the
Duo dot com again. That's joined the Duo dot Com.
And I'm sporting my lightning hat to day opening Hockey
Week this week, lots of cool stuff with the Lightning.
Excited to be back for my tenth year. I think

(01:07):
it's tenth, maybe even eleventh year of partnership with the
Tampa Bay Lightning. Going to a lot of games and
we'll we'll have the details on our appreciation of it
coming soon and we'll do some cool giveaways. So make
sure you're following us on all of our socials at
the Dunkan Duo, Twitter, Instagram, YouTube, TikTok, and Facebook. I
talked last week with Melissa Rodriguez, our preferred mortgage lender

(01:28):
at city Wide Home Mortgage, and I want to kind
of reiterate a few things that I spoke with her
about last week. And the first one is the government shutdown.
There's a lot of confusion about the government shutdown in
terms of how it impacts real estate, and right now,
the impact has been relatively minimal. You know, we're a

(01:50):
little over a week, about a week and a half
into the shutdown, and so the reality is is that
the impact has been minimal. VA and FHA loans haven't
been disrupted. They have enough funding for now, there's still
enough people working that those have not that we have
not seen problems with VA and FHA home loan closings.

(02:13):
Where we have seen problems is with flood insurance. Flood
insurance is FEMA, and FEMA is a government entity, so
you know, for for all intents and purposes, the biggest
obstacle to getting a closing right now with the government
shutdown is flood insurance if it's required or being purchased
in the transaction, and of course if it's a THEMA

(02:34):
flood insurance product. There are private carrier flood insurance options,
not a lot of them, but there are some. So
nonetheless that the impact so far has been relatively minimal. Now,
the longer it stretches, the more we start to see impact.
The other place that we see impact is from consumers
that are furloughed or laid off, you know, while the

(02:57):
government is shut down because of the impact of it.
So if they're going an employee, a defense contractor you
know they work for the FED, something involved with the
federal government. Those people, you know, if they're a buyer
that's buying your home, or if they're out there looking,
they're obviously on the sidelines for right now. So so far,
it's not had any enormous impact on real estate. In
years past, it had a bigger impact. The only thing

(03:18):
I can say is maybe this administration got a little
ahead of it. Maybe they're just better prepared, or maybe
they have more people that are willing to work for
free right now. My understanding is all of them get
caught up and they do end up getting getting back
pay if they work while the shutdown is here. But
there are some disruptions now where there can be some
obstacles with with FAHA and VA would be things like,

(03:42):
you know, if you're buying a traditional home right now,
we've had FAHA and VA closings go fine. Where we've
had where we could see obstacles would be if if
you're trying to get a new condo community proved or
an FAHA spot approval, or some sort of extra thing
that's above and beyond a normal kind of FAHA you know,
purchase product. Some of those things can you know, start

(04:04):
to cause an impact, but so far it has not
been a major impact. So we also spoke to Melissa
last week speaking of FAHA and VA mortgages. I want
to remind everyone out there and have them prepare for this.
Just write down citywide Tampa dot com. Okay, they're our
preferred lender. Melissa is awesome. The best loan officer that

(04:26):
I've dealt with in twenty years in this business. That's
saying a lot, you know, a few billion dollars in
real estate sales, and she is amazing. She answers her
phone three sixty five, twenty four to seven. She's she's
phenomenal service her loans closed, she navigates through problems, she's
got all kinds of you know, every program available, very
very very knowledgeable again Citywide Tampa dot com. And the

(04:49):
reason why I want you to write it down is
if you have an FAHA or a VA mortgage right now,
I want you to be prepared, okay for how you
can save some money at the end of the year.
So again, if you have an FHA or a VA
mortgage right now, okay, there is a reasonably good chance
that you could refinance into a lower rate by the
end of the year and do what's called a streamline Okay,

(05:12):
it's it's called something slightly different with VA, but it's
but it's a streamline refinance that lowers your interest rate,
doesn't cost you any money, and typically if you play
it right and time it right and Melissa can help
you with this. You can you can miss a payment,
you can you can have you can skip a payment.
Now you don't really it's not as if you're you know,
you're still paying the money, but it kind of gets

(05:32):
lumped into the mortgage. So you kind of have a
period of time where you do the refinance and you
have a short period of time where you normally have
a mortgage payment and you don't have one till the
following month if you time it right. So the reason
why I want you to pay attention to the next
couple of months, if you have an FHA or VA mortgage,
and specifically if you have an FHA or VA mortgage
UH in the in the high sixes into the sevens, okay,

(05:53):
you're going to be able to refinance, very likely be
able to refinance into a lower interest rate and and
can literaly lower your payment. And the reason why it's
impactful for a lot of people, especially this time of
year is, Look, we know the holidays are coming, we
know a lot of people are strapped, we know it's
been a tough year. We know there's people struggling financially.
We know people that you know, are worried or are they

(06:14):
going to have enough money, you know, for presents for
the kids or for the trip that they want to take.
So you can strategically line your refinance up with n
FHA or VA streamline and lower your payment. And it
is a I want you to understand that it is
very much almost like a rubber stamp refinance. Okay, it's
not going to reappraise the property. So if you're someone

(06:35):
that has an FAHA or VA loan and you don't
think you have equity anymore, it doesn't matter. Okay, if
you're someone that's worried about your credit or you miss
some payments, same thing like this is really they've already
approved your loan. The way the VA and FHA look
at it, you already have a loan with them. Okay,
they're they're they're already loaning you money, right, They're already
going to keep loaning you money. They're already guaranteeing your loan.

(06:57):
If you've missed some payments and your credit isn't as good,
it still is going to impact your ability whether or
not you're going to pay them their money. So they're
willing to lower your rate for you okay, to make
it easier on you to lower your payment, and also, potentially,
like I said, if you time it right, you could
skip having an actual mortgage payment and kind of navigate
that around the holidays. Now, the reason why that makes

(07:18):
sense this year more than other years is because that
lines up with the FED rate cuts. Now, what we
know about the FED rate cuts is they're predicting two
or three more FED rate cuts. Now there's a lot
of rumors out there, and the next meeting isn'tuntil the
end of October to determine it. But if there's two
or three more FED rate cuts, interest rates will soften
a little bit more so by the end of the

(07:39):
year around the holidays. It should line up very nicely.
Like potentially, Again, there's always with the economy, the government, mortgages,
the FED, there's always curve balls, and there's always things
you can't predict. So none of this can be guaranteed,
but I want you to be aware of it. If
you have an fhair VA mortgage and your rate is
you know, high sixes into the set Evan's mid to

(08:00):
high sixes into the sevens, and maybe you're not in
an equity position, you could be able to refinance and
lower your payment at the end of the year, even
if your credit's gotten worse, even if your home won't
a praise, even if you don't have equity, even if
you've got some income issues, you potitionally qualify to do
that at the end of the year, and a lot
of people, if they time it right, you know, you'll

(08:22):
get the benefit of some FED rate cuts or even
the you know, if you time it a little bit
ahead of that. So if we suspect if we get
a FED rate cut in October, another one in November,
and there's a chance for another one in December, the
FED moves, the mortgage market moves in the direction of
the prediction for the FED. So let's just say, for example,

(08:43):
we expect a FED rate cut at the end of October.
About mid to mid October or a week out, mortgages
start relaxing the rates towards the direction of the strong
likelihood the Fed's going to cut rates. The FED rate
cut itself usually doesn't have a massive impact on mortgage
rates tied to treasuries, but it does. It does indirectly

(09:03):
effect and mortgages move in the direction of the likelihood
of that happening. So so nonetheless, there is a really
good chance of lower mortgage rates at the end of
the year. And VA and FHA loans have this unique
ability to do a streamline refinance that doesn't go through
a typical refinance like other products. Other products, you've got

(09:23):
to you know, you got to go back through this
a prey. You got to go through appraise, so they
got to qualify, they got to look at you because
it's basically another lender or another investor that's gonna end
up taking over your new loan. Well with VA and FHA,
because they're backing loan, it's the same, it's the same,
it's it's them again. So there there's just much less
hoops to jump through, it's much less complicated, and it

(09:44):
can be an instantaneous drop in your payment. And of course,
like I mentioned before, if timed right, a month where
you don't actually have a mortgage payment, which could be
huge relief for people this holiday season. And so how
you do that You go to citywide Tampa dot com.
You can you can cause tack Melissa directly let her
know that you want to do a you're interested in
doing a streamline refinance. Even if look, even if you're

(10:07):
not going to do it till the end of the year,
reach out now so that she can get everything ready
and have it all prepared so that it can be
done ahead of time. The sooner you do that process
and get that done, the quicker that the process can
happen when it comes time for you to pull the trigger.
But you can go to citywide Tampa dot com. You
can apply directly on there. You can contact Melissa with
any questions. Her contact information is on there as well

(10:28):
as the application linked directly. And again I sympathize with
people because we are approaching the holidays. I know the
economy has been rough for people. Even though the stock
market's high that's obviously helping a lot of wealthy people
get more wealthy. There's a lot of everyday people out
there right now struggling and they don't know about this
ability to considerably lower their payment with no out of

(10:51):
pocket cost and a very very very simple process to
lower that interest rate compared to the normal process of
doing a refinance. So again, citywide Tampa dot Com uh
to to do that. So again, your listening to the
dunkin do a real estate show when we aren't on air.
Please make sure follow us on all of our socials

(11:13):
at the Dunkin Duo, Twitter, Instagram, YouTube, TikTok, and Facebook.
I'm gonna come back in the next segment. I'm gonna
tease this a little bit because if you're thinking about
selling your home, this is there's some things I'm seeing
happen a lot in the market right now. They're they're
causing sellers to make mistakes, and they're they're picking the

(11:35):
wrong agents, they're having the wrong strategies. They're they're you know,
they're not putting their best foot forward. Some of them
are being cheap that are going to the cheap place. Hey,
let me find the cheapest guy. Cheap work ain't good,
and good work ain't cheap when you're selling the most
expensive thing that you're going to sell. When you crimp,
when you know, cut corners and you look for the

(11:56):
cheapest guys, you're gonna get what you pay for. You know,
you're you're gonna lose some equity, you're gonna lose some
marketing because you're giving you're basically asking them to give
up their marketing dollars to get your home exposure. So
we're going to talk about that. I'm going to give
you some home selling tips, some things to look for
when picking an agent, as well as some things to
do to prepare your home for sale. So if you're

(12:17):
thinking about selling, stay tuned. We'll be back on the
other side after a quick break here on the Duncan
Duo Show. So back here on the Duncan Duo Show
talking about the Tampa Bay real estate market. Andrew Duncan
with the Duncan Duo team at LPT Realty when we
aren't on air again at the Dunkin Duo. I talked
about this before the break, and I just want to
remind people. If you have a VA or FHA mortgage,

(12:37):
you want to lower your interest rate. You have an
interest rate in the in the mid sixes into the sevens.
Maybe you're somebody that's not in an equity position you
bought the last few years, but you want to lower
your payment. It is one of the easiest products to refinance.
It doesn't cost you, it doesn't cost you money out
of pocket. You can lower your payment. You can even
skip a payment during the holidays. I know there are
a lot of people out there that could use that

(12:58):
This year. Just go to city y Tampa dot com
again that citywide Tampa dot com. So I talked about
tips for home sellers, and I want to break down
some of these because there are a lot of consumers
making mistakes not right now, with the agent that they hire.
One of those is they're going with the cheapest agent. Okay,
they're they're they're going and talking to two or three

(13:20):
agents and then they're saying, you know what, I'm gonna
go with the cheap guy. Okay. Here's what you get
when you go with the cheap guy in real estate. Okay,
you get somebody that's not a great negotiator. Okay, if
they can't negotiate their own fee, right, if they've had
to discount, uh, then they're going to discount your equity too.
How can you trust the negotiating skills of someone that

(13:41):
can't even negotiate their own fee when you're talking about
your equity, your hard earned equity. Okay, so you get
what you pay for a second, the more they cheap out,
the less marketing they're gonna the less marketing budget that
they're going to have. Okay, they're not going to be
able to have the money to do social media ad
campaigns or videos or professional photo They're going to cut

(14:01):
corners on the marketing because their margins are compressed. Because
you wanted to be cheap. You're selling the most expensive
thing you're likely ever going to sell. If you're going
to be cheap on something, it's not your house, right.
There are a lot of inexperienced agents that got into
the business the last few years, and I'm seeing a
massive amount of homeowners that have lost considerable equity as
prices drop in the marketplace because they went with the

(14:24):
cheap agent. They thought, oh, well, my equity isn't as good,
so let me you know, I don't have as much
equity as I thought, so let me try and save
some money and go with the cheap agent. And all
they did was make their problem worse, and then they
rode the market down because not only did they go
with the cheap agent, but they didn't listen on price.
So don't skimp, don't go to the cheapest agent. You're
selling the most expensive thing you're going to sell. You

(14:44):
need an experienced negotiator. Experience negotiators ain't cheap. The best
lawyers aren't cheap, The best doctors aren't cheap. The best
cars aren't cheap. Okay, if you want the best, hit
us up. We'd love to help you Duncan Duo dot
com and not just us. But do your homework. If
you're working with and they or a team that doesn't
have a lot of business, and you're doing it based
on purely on price. Unfortunately, we are not in the

(15:06):
market today where stuff's flying off the shelf, where it's
easy to sell a house. It is really, really, really challenging.
And again I'm getting we're getting contacted daily by home
sellers whose homes didn't sell. They're frustrated they went with
the cheap agent. They went with their buddy or their
uncle's cousin's friend, the home didn't sell, and now they're
desperate because they took it out. They waited too long,

(15:27):
and they ate up their equity as prices dropped by
going with the cheap agent that didn't market their house,
couldn't negotiate, wasn't experienced, hasn't done a lot of listings,
had never been in a challenge to market, and only
worked in hot markets. So I'm telling you, guys, there's
so many people making this mistake right now on when
they're selling your home. Another important tactic when selling your

(15:48):
home is again not just the agent you choose, but
the strategy you choose. Pricing your home aggressively has never
been more important. Okay, I want to reiterate that pricing
your home aggressively has never been more important. We are
in a not you know, the market isn't great, the
economy isn't great. We still have a hangover from a

(16:10):
lot of the storm stuff. Our market's been three years
without appreciation. Frankly, it's been depreciation when you factor in inflation,
but it's been pretty flat. Okay. It's a really challenging
market to sell in when interest rates are high. We're
starting to see some relief, okay, but if you have
to sell right now, the relief isn't here yet. Okay,
it's not. The interest rates have not massively dropped. The

(16:33):
market hasn't massively improved. It's still very challenging. You've got
to hire somebody that's aggressive, that's got experience. Aggressive and
experience isn't cheap. Okay. Again, if you're gonna have a lawsuit,
it's gonna be the most expensive thing you've ever done,
or the most amount of money you'd ever get. And
I'll hire the cheap guy. If you're going to go
in and get brain surgery, you know, hire the best,

(16:54):
don't hire the cheap guy. There's a lot of people
right now hiring a cheap guy, and it is costing
them massively. Condition of your home matters, price matters. When
I say aggressive, you're if you have a five hundred,
If you think your home is worth five hundred thousand,
you are way better off pricing at a four to
seventy five, then you are five and a quarter. Okay,
at five and a quarter. People don't want to negotiate. Okay,

(17:17):
let me explain this again. People that are buying your
home do not want to negotiate. The majority of consumers
if they wanted to go to if they wanted to
negotiate everything, they'd be going to flea markets. How many
consumers buy stuff at flea markets? They don't. They buy
it on Amazon. They click a button. That's what they
want to do with your house. They don't want to
have conversations, they don't want to talk to people, they

(17:38):
don't want to haggle. Okay, they want to purchase right,
and if your home is overpriced, they're simply going to
click next and not buy your house. Okay, you have
to have your home aggressively priced to get them to engage,
and certainly they may negotiate, but the reality is the
further away from reality you are on your price, the
more likely they are going to clar next because you're

(18:01):
not rewarding him with the experience that consumers have told
us over and over and over again that they want,
they want ease, they want convenience, they want to click
a button. You're a home has to be so aggressively
priced that the consumer is considerate, it would be willing
to click a button. Okay, and the button that they're

(18:21):
clicking when you're overpriced is the next button. Okay, you've
got a price aggressive, you've got a price below market
with the chance to get at market. Okay, you create
a bidding war, you create a seller's market for your
house that is working today. If you don't want to
price your home like that, and your home isn't some
like you know, amazing thing that there's nothing no other

(18:42):
product like it, your home is going to sit. You've
got to be aggressive with your price. If you're not
aggressive with your price, you're not going to sell. This
isn't the market to test. This isn't the market to try,
This isn't the market to hope. Okay, if you are
going to sell today, you got to be aggressive with
your price. And I'm going to talk about condition. I
want to give you guys some tips of what you
can do to improve your condition of your home to

(19:04):
prepare for sale. After a quick break here on the
Dunk and du A Real Estate Show. So back here
on the Dunk and du A Real Estate Show. We
talked in the first segment about the government shutdown the
impact that's having. And if you have a VA or
FHA loan and you're in the mid sixes or into
the sevens with your interest rate, maybe even if you're
not in equity you bought the last few years, you
can do a streamline refinance at the end of the year,

(19:25):
lower your mortgage payment, lower your interest rate, and potentially
skip a mortgage payment if you time it right and
need to go to citywide Tampa dot com. It's a
program not a lot of people know about people that
are struggling this holiday season that could use the extra money.
It's a great opportunity to be able to use. If
you have a VA or Saha loan product against Citywide

(19:47):
Tampa dot Com. I also talked in the last segment
about pricing home aggressively, how it's the only way that's
going to move your house right now. A lot of
agents are advising people poorly on price, a lot of
sellers aren't listening, and a lot of sellers are going
with the cheap age and then they're coming their home
isn't selling. They're losing money, they're eating mortgage payments, their

(20:07):
value is you know, they're losing value because they skimped
on commission, and then they get real after they've lost
a bunch of money, and then they finally, you know,
come to the right agent. And we're getting a lot
of that right now. So if that is you, if
your home didn't sell, Duncanduo dot com again, that is
Duncanduo dot com. I want to talk about condition though,
because if you're selling today, you're in what I call

(20:30):
a combination of a price war and a beauty contest
at the same time. You know, you heard my opinion
about price and what you need to do to price
your home aggressively to get buyers interested in it today,
based on all the economic data, based on the stats
based on the things going on in our real estate market. Now,
that is how you can handle price condition. You need

(20:53):
to be one of the best conditioned. Okay, so not
only do you need to be great price, but you
need to be best conditioned. If there's ten homes in
a neighbor hood and one or two are going to
sell over the next month, you've got to be one
or two that look like the best deal to get
the abats. Constantly, I'm seeing homes out there that are
the fifth, and the sixth and the seventh on price
and condition, and then they're wondering why they're not getting

(21:15):
any attention. It's because they didn't look at the competition.
You can't look backwards when you're selling today. When I
say look backwards what your neighbors sold for six months
or a year ago is irrelevant. It doesn't matter anymore.
You can't look backwards. You have to look at the competition.
What's within a half mile of you, What are you
competing with, what are those homes priced at, what are

(21:35):
the concessions that they're offering. And you've got to be
willing to, you know, to be aggressive. It's just that
is just the market that we're in. So when it
comes to condition, you've got to eliminate a lot of
the things that would cause a consumer not to want
to buy your house. Okay, some of the cosmetic things
that you could skimp on in years past, maybe you know,

(21:57):
pressure washing your driveway or the house, or repaying the
front door, or freshening up the mulchon the landscaping. A
lot of inexpensive things can be done to make your
home look better, and you've got to go the extra
mile and put forth that effort. That doesn't mean you
need to massively renovate your house, but you need to
put in the sweat equity and or spend a little

(22:17):
bit of money to make your home stand out. So again,
it's got to be one of the best priced and
best conditioned. So if there are obvious condition issues, you
need to address them. If their things are going to
pop up in an inspection, they're gonna end up costing
you more later. Spend the money now. And what I
mean by that is, let's just say you've got something
that you know is wrong, it needs addressed. Maybe it's

(22:38):
one thousand dollars. Here's what ends up happening. Okay, when
you go into contract with the buyer and the inspector
finds something wrong. The inspector is going to word that
in a way it's gonna make the buyer think that
the house is going to burn down, and you know
it's gonna be chaos. It's gonna be worded in a
way that's going to scare the buyer. The buyer isn't

(23:00):
to know what that thing costs, and they're going to
ask for some stupid amount of money, okay, and then
they're going to use that to hold over you while
you're in the process of trying to buy your next house,
and they're going to ask for more money than it
would cost to cure it. Cure it now if you can. Okay,
if you know something is wrong, don't wait to let
them find it in the inspection. Guess what they're going

(23:21):
to find it. And then that item that you could
have cured for one thousand dollars, they're going to say, oh,
it's twenty five hundred, or the contractor's going to give
them some stupid number, or they're just going to leverage.
They know they have leverage. They know that you're out
there looking at homes, they know that you don't want
to put your house back on the market. They know
you don't want to have more days on market. They
know you don't want to have to tell the next

(23:41):
customer that fell apart on inspections, so they ask for
more money. Okay, bullet proof your home sale by taking
care of condition items up front so that you don't
have to later on, especially cosmetic stuff. And people say
things like, well, you know the pressure washing is cosmetic.
No one's going to notice that in inspection. You know
that's not even going to be an issue, So I

(24:01):
don't want to do that. That's what customers say. The
problem is when they see like the driveways not pressure wash,
or the house doesn't look clean, or there's not fresh mold,
their immediate impression when they walk up to your house
is that it's not taking care of So they're going
to be less likely to buy it because they're going
to think there's more things wrong with it. Well, they
didn't pressure wash or driveway before they put the house
on the market. Are they servicing the ac? Have they

(24:25):
taken care of electric issues? Is there a roof leak
that we don't know about? Because if they're not taking
care of the outside it's probably stuff we can't see
they're not taking care of. That's the assumption customers are
going to make. So sellers, you've got to have an
aggressive price and you've got to address your condition issues.
Next thing I want to talk about is if you
take your house off the market. Okay, I know there

(24:45):
are sellers out there, you know, and we deal with
this all the time too. The seller that what's their
house on the market tomorrow? I want it on the
market tomorrow. I need it on the market tomorrow because
they want to check off a box. Okay, it's got
to go on the market. It doesn't you want to
put it on the market right. When we get rushed
to throw a house on the market, you know, people

(25:06):
want it to be done sloppy. They want photos taken
on a rainy day, they want it thrown out there.
If you're do you want it done or do you
want it done right? Customers, you're hiring a marketer. Okay.
They need to put a plane in place. They have syndication,
they have places they have to send the listing. They
have they have websites that pull data. They've got to

(25:26):
edit the photos and the video. They need to do
a study, a demographic study to determine where they're going
to advertise this on social media. They've got to read
the copy and have multiple people look at it. They've
got to run it through AI. They've got to look
at the property disclose. There's a lot of things that
goes on to putting a home on the market. It's
not just you take a photo and you slap that
stuff up on MLS. That's what sellers sometimes want, and

(25:48):
that is that's just a poor strategy. So sellers let
the agent do their job, chill out. A few days
of them doing it right is going to be way
better than them slopping it up there. Because you're in patient,
you want to check a box. The same thing goes
for when your house comes off the market. We've had
clients call us and say our sellers call us and say, hey,
you know I just parted ways with this agent. You know,

(26:11):
either I terminated the agreement if I had a clause
to terminate. Some do, some don't. They withdrew it or
it or it expired, and I want to put it
up back on the market tomorrow. Okay, Sellers, your agent,
especially at my company, we're the expert. Okay, let's do
our job. Let us give you guidance. Okay. The reason

(26:33):
you're home maybe didn't sell the first time. Maybe it's
because you. Okay, like listen a little bit. Let us
come up with the right strategy to get the maximum
exposure and understand that if you were a grave marketer,
you wouldn't have needed an agent and your home would
have already sold. Okay. Let the gray marketer do their job. Okay.
So sometimes it's going to be things like, hey, we

(26:55):
got to take a step back, we got to come
up with a new strategy, we got to take new photos,
we got we gotta have it come off the market
for a little while, okay, so that it can go
back on the market and look like a fresh new listing.
Or we're gonna have a week of rain. So I
really don't want to mister seller. I want to sell
your house, but you understand that those photos are there forever.
I don't want to take photos and if it's raining

(27:15):
every day and then have it look like gloom and
doom when people in New York that are wanting to
move here want to buy sunshine and rainbows. So if
you're gonna hire an agent, especially after you hired the
wrong one and your home failed to sell because maybe
you didn't listen to the agent the first time, or
maybe the agent was a bad one the second time.
Learn your lesson. Okay, if you're parting with your agent,

(27:38):
you can put your house back on the market. Learn
your lesson. Okay, you really don't know what you're doing.
You don't know what you're talking about. If you did,
your homework was sold. Or you to hire a better agent.
Listen to the expert, hire the pro, don't hire the
cheap guy again. Hire the best, and then listen to
the advice they give you so they can put the
right marketing strategy in place. Okay, same thing goes with,

(28:01):
you know, open houses. This is a this is a
fun one. I love open houses, maybe to a couple
of them when a house first goes on the market,
because I think it's a great opportunity for consumers to,
you know, in a neighborhood, for people to come and
look at a house, or for kind of an open
opportunity for anyone that can go and look at it
without any pressure sales tactics and just to kind of

(28:24):
observe the reality is that open houses don't sell homes. Okay.
Your buyer is very unlikely to see your house in
an open house. Okay. The open house, most of the
time is really more marketing tactic for real estate agents
to meet your neighbors, to pick up buyers, or to
find another listing in your neighborhood. The likelihood of your
home selling from an open house is very, very, very slim.

(28:47):
It is a marketing tactic. Do we do it, yes,
do we do them well yes, do we want to
do them yes. However, we have homeowners that come in
and say I want an open house every weekend. That's
what a lock box is for. Kind of is an
open house every weekend. The agents really don't have to
do much. They have to click a button, appointment gets set,
it can be opened up anytime. That's what a lock

(29:10):
box is. It's pretty much open house all the time. Okay,
if you want to do an open house every weekend,
I want to advise you on why that's a bad idea.
Number One, you're setting your home up for an opportunity
for assault, a scam, somebody to case your house, somebody
pocket your stuff. If you're advertising open house every weekend,

(29:31):
you're basically saying to every criminal out there. Because the
lock box system provides some security access, a check and
a balance to make sure who's coming and going. There's
a realtor in between that person and the customer to
pre screen that person, to do a background check to
prequalify them. Doing an open house, you're basically saying, hey,
criminals come into my house every weekend. Please come in

(29:52):
case my house every weekend and figure out where my
cameras are my security system, please, okay. Number one. Number
two problem with doing an open house way too much.
In addition to the security, you're saying, I'm desperate, Please
lowball me. My home can't sell on its own, so
I've got to schlep my agent out here every weekend
to do an open house every weekend. And you know

(30:16):
I'm basically saying I'm desperate, Please low ball me. People
naturally want things that other people want, Okay. Sometimes providing
a little bit of resistance to access to something makes
them want it even more if they know there's an
open house all day every day that doesn't exist. Number
one and number two, you look desperate. Okay. It's not

(30:40):
a good look. I promise you. The consumers are noticing
your neighbors are noticing, the people driving around that neighborhood
are noticing. Open Houses every weekend aren't great. Open houses
are very good early on in the marketing process, Okay,
to get some exposure for the house, to make sure
everyone driving through that neighborhood knows it's for sale. Sometimes
neighbors know another person wants to live in the community.
You really want to make sure that everybody in the

(31:01):
neighborhood knows it's for sale. It's good for that, it's
good for you know, that little resistance for the customer
that maybe doesn't want to talk to an agent yet,
it's good for that. It's good for that. For the
first couple weeks. After that, an open house isn't really
relevant anymore because you've lost all of that. It's becomes
more risky than anything. There's so many assaults, batteries, robberies,
they come from open houses. So again, do we do them? Yes?

(31:24):
Do we do them right? Yes? Do we want to
do one every weekend because a home seller wants one?
Because a home seller doesn't want to listen to what
will work to actually sell our home. No, So stop
asking for open houses every weekend. You're not doing yourself
any favors, you're actually not helping yourself. So if you
want more real estate tips falls on all of our
social media channels at the Dunkin Duo, Twitter, Instagram, YouTube,
TikTok Facebook Again at the Dunkin Duo. If you want

(31:46):
to sell your home, get a home value estimate, instant
cash offer we do as well. Sit up Dunkin Duo
dot com and type in quick address. It can auto
populate from your phone again at Dunkin Duo dot Com.
We're going to be back to wrap up our last
after a quick break here on the Duncan Duo Show.
So back here on the Duncan Duo Show talking about
the Tampa Bay real estate market like we are every

(32:06):
Sunday at ten here on WFLA News, at the Dunkin Duo, Twitter, Instagram, YouTube, TikTok,
duncanduo dot com for an instant cash offer on your house,
to get your home value estimate, or to set a
home selling consultation with an agent from our team to
come out and help you determine which path is right
for you. It's one of the unique things on our
team is we give you all your options. We say, hey,

(32:26):
look Here's what it looks like if you just do cash.
Here's what it looks like if you go on the
market traditionally. Here are the things that you need to
do so we can give you all those paths. Again,
that's at Duncinduo dot com. One in three homes with
was bought with cash in twenty twenty five. This is
something I want to kind of reiterate here because I

(32:46):
think this is important for people to understand why our
real estate market is not nearly is at risk of
a massive downward spiral like in the Great Recession. Of course,
the real estate market is been great the last years,
but it's also not been terrible. We have reduced transaction
counts and our home prices have been pretty flat with

(33:07):
some slight depreciation, nothing like the Great Recession where we
were seeing homes dropping. The average cell price in Tampa
was dropping ten percent a month during certain periods, and
home sales were at historic lows. The reason why the
amount of cash in the marketplace, it's the reason why
we won't have the massive downturn that we have the

(33:29):
next time, is because Wall Street has deployed cash into
our real estate market. There are hedge funds buying up
homes that will gladly buy them up if people fall
behind or turn into foreclosures. There are buyers on Wall
Street with cash ready to pull the trigger, that don't
need financing, that don't need appraisals, that are buying those

(33:51):
for long term holds. Enormous billion, multi billion dollar hedge
funds that are buying homes for long term rentals. So
a third of home sales were all cash. Cash dominates
in the extremes of the market too. Okay, two thirds
of homes under one hundred thousand dollars for cash, and
more than forty percent of homes over one million were

(34:13):
bought with cash, with the share topping fifty percent for
homes above two million dollars. Okay, So again, the number
of the amount of cash that's in the marketplace is
higher than it's ever been. So that protects the real
estate market because what kills the real estate market isn't
wasn't the recession. The recession didn't kill the real estate market.

(34:36):
What killed the real estate market was foreclosures. Okay, Now,
so the cash being what it is another reason why
we'll never see the foreclosure crisis that we saw back
in the you know, back fifteen years ago, twenty not
quite twenty. Fifteen years ago, I was selling real estate.
Then I was a relatively newly licensed a few years

(34:58):
in the business. The qualification process for getting a mortgage
is massively different. Okay, The ability to get more second
and third home mortgages and investor loans is different. The
amount of cash in the marketplace and the banks. Okay,

(35:21):
the banks and the investors don't want to foreclosed, so
they do four barons, they kick the can down the road.
They do ded and lou so that then those foreclosures
don't ever hit the market at these low retail prices,
because that's what pulls the values down. Okay, if they
do enter hedge fud trading, like some big hedge fund
goes to BFA and says, hey, we want all your
bad houses, will buy them in book, then individual prices

(35:42):
don't ever get recorded for those properties. When individual prices
don't get reported because they bought them in a bulk
debt sale and then they did cash for keys, those
numbers don't hit the market to pull the price down.
The banks and the hedge funds that have figured it out,
we won't see massive depreciation again, the real estate residential
real estate mark has a bubble around it for that reason. Okay. So,
and of course the amount of cash and the federal

(36:04):
government allowing Wall Street to basically buy up real estate,
they had a lot of protections on that back, you know,
many many years ago, and now they don't, so Wall
Street's hedge funds buying properties like crazy. So among metros,
there are a lot of cash buyers, varying across the country,
driven by home price of demographics and market dynamics. The

(36:27):
all cash share states Mississippi, Montana, Idaho, Hawaiian, Maine all
in the forty five to fifty percent range. Okay, For
homes that were all cash, Miami forty three percent, San
Antoontio thirty nine, Kansas City, Kansas thirty nine, Birmingham thirty eight,
Houston thirty eight, and Saint Louis thirty eight led the

(36:49):
nation cash are for the first half of twenty twenty five.
By contrast, high cost, job centered markets saw the lowest
cash are Seattle, San Jose, Denver, and Washington, DC. We're
kind of in the middle there with Tampa. But nonetheless,
the cash heils are kind of the protection when when
you know we're definitely higher than pre pandemic levels. We're

(37:10):
definitely higher cash amounts than we were in the Great Recession.
Unt those amount of cash als obviously aren't going to
become foreclosures, and the mortgage process protects it as well
as like I mentioned before, the banks and investors learning
from the last time to protect the real estate market
with things like forbearants, hedge fund large debt scale purchases

(37:34):
cash for keys homes not making it all the way
to the fore foreclosure steps because they work out something
with an investor a hedge fund to buy their debt.
All those things help protect the value. So in essence,
we may have our we would have definitely already seen
a real estate crash, especially you know probably you know,
pandemic or after had those things not been in place.
Those things protected the market. So whether we're still in

(37:57):
a free market economy for real estate is a conversation
for another day, because it's not quite capitalist anymore. It's
definitely got some government overtones and protections. So hopefully that
makes sense, but hopefully it also gives you peace of
mind to know that the risk in real estate is
somewhat protected by that backstop. So again. You've been listening
to the dunk to do a real estate show when
we aren't on air. Follow us on all of our

(38:18):
socials at d Duncan Duo. And if you need to
sell your home you want a quick cash offer you
want to send a point with an agent on our team,
hit up Duncan Duo dot com. And if you need
one of those VA or FHA streamline refinances to lower
your interest rate even if you don't have equity, hit
up Citywide Tampa dot com and have an awesome rest
of your Sunday weekend Tampa Bay