Duncan Duo 11-02-25

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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 on
w f L A News like we are every Sunday
at ten Andrew Duncan with the Duncan Duo team at
LPT Realty, excited to talk to you about all things
going on in real estate across the country and in
the Tampa Bay area. And I'm going to start off
the show today with our featured property, and you know,

(00:24):
before I tell you about it, I want to tell
you that, you know, I think there is a movement
to Florida that is on, you know, kind of on
the cusp of reigniting. And you know, pre COVID we
had this, you know, or during COVID, we had this
huge movement of people here that were that were motivated politically,
they were motivated by the lockdowns and other parts of

(00:46):
the country. And then of course, from a sales tax perspective,
plenty of people when you know, you you look at
some of the higher or not sales tax, the income tax,
when you look at higher state income tax states, and
then local municipalities that charge you know, city income taxes.
And when all that was shut down. People looked at

(01:09):
that and said, hey, I'm paying all this extra money,
but I'm not being able to go to the parks.
I'm not being able to take advantage of the things
that my tax is paid for. So what you found, uh,
And of course schools, you know, schools are all closed, right,
So what you found was this movement of people here
that was motivated by actions of the government or in

(01:32):
action of the governments in those areas. And I think
we're going to see another wave of that. I believe
we're going to see another move of people here coming
up in the next couple of years. Number one. Uh,
you continue to see some parts of the country go
further left, and you know, New York, for example, I

(01:54):
believe if you know Mabdani has elected the mayor. I
think we're going to see a movement of people from
New York here to the Tampa Bay area and to
the rest of the state of Florida. And then secondly,
I think that you're these discussions that DeSantis is having
about the possibility of abolishing property taxes. Now, I don't

(02:17):
know when it's all said and done, what ends up
it getting on the ballot next year, because if it
gets on a ballot next year, it's not happening until
the following year. However, I want you guys to understand
something that smart people, smart money moves ahead of the market. Okay,
interust rates in this country are a great phenomenon and
understanding of that because we saw the FED cut this

(02:37):
week and mortgage rates didn't drop. And everyone you know,
they're really isn't in the know and doesn't do this
every day, you know, every every time the FED drops rates,
I get these questions why did mortgage rates drop? Because
the FED rate is really kind of a you know,
not directly impacting mortgage rates. It has some you know relation,
but it's not a direct impact. And because the market

(02:59):
moves ahead of the prediction and the news. So same
thing with the stock market. If you look at how
highly valued some of these AI and tech companies are
right now that aren't making profit, it's because the market
is moving ahead of the belief that this is going
to be revolutionary change and then massive profit and changes
with an industry. So I believe the same thing will

(03:20):
apply to our real estate market in terms of this
news that is going to move people. The discussion of
property tax is being abolished, and the reasonable belief that
it could happen or some other major reform then maybe
not necessarily abolish it all the way, but massively reduce it.
I believe it's heading in a direction that people are

(03:41):
going to start moving here in anticipation of that reason
being similar to why people would invest in industries ahead
of time, or mortgage rates would move ahead of time,
is because they want to get ahead of that curve.
So people believe that if property taxes are abolished, that
we would see this huge, you know, movement in the
market and appreciation. And I think that's completely accurate if

(04:05):
we do see it abolished for homestead properties, because that's
what's on that's what's on the agenda. Basically, it's not
commercial properties, it's not hedge funds, it's not your rental properties,
it's not your investment properties, it's not your flips. It's
the properties that you occupy as your homestead. Those are
the ones that they're talking about abolishing or potentially massive
reform that would dramatically reduce property taxes. And so the

(04:29):
reason why I believe that this will dramatically appreciate our
real estate, and I think people start moving ahead of
that is because history has told us that it will.
People don't buy real estate based on the price. Most people, Okay,
they don't buy based on the price. They buy based
on the payment. It's why you know, the time periods

(04:50):
where our market has seen the massive appreciation, the highest
appreciation rates twenty five to thirty percent during the COVID
years is when we're at our lowest rate aka lowest payments. Okay,
So what happens when you take property taxes out of
that escrow and people don't have to pay them anymore
for their homestead property, which is a strong portion of

(05:14):
the market, probably a third of properties in Florida or
homesteaded roughly according to some AI and different statistical searches
I did. Now, the second part of that is, so
you eliminate property taxes out of that payment, and rates
drop a little bit more, and your payments line up
with similar numbers pre COVID where we saw this huge,

(05:39):
crazy cycle of real estate. I believe that same thing
repeats itself, and it positions Florida against many other states
from an affordability perspective. On monthly payment. Okay, people are
buying for monthly payment even if rates don't get to
what they used to, but property taxes go away, those
payments line up with comparable figures to what they were

(06:00):
when we saw the huge run up in the market.
And I think the market will move ahead of that.
I think we'll see people move here. Now, why does
that matter to the property that I'm about to tell
you guys about is because I believe we've got this
huge movement in Florida with all these people moving from
these other parts of the country that want land. Okay,
Number one, you can't make more land. Number two, you

(06:21):
have these enormous AI and tech companies buying up huge
swaths of land because they need them to generate energy.
That is the one thing holding back a lot of
the tech in this country, and a lot of the
evolvement of AI is data centers and the ability to
have power to power data centers in GPUs, so land
becomes an even more valuable commodity. Number one and number two,

(06:44):
you can't create more of it. And because we're moving
people from areas that are, you know, maybe very dense,
they are coming to Florida and saying I don't want
that lifestyle anymore. And I literally just had an experience
with this because that had an attorney, that is a
client of ours that moved here from New York. Was
living in a you know, in a condo in a

(07:05):
in a you know, an apartment in Manhattan, living the
kind of the Manhattan lifestyle. And he moved here and
he bought fifty acres out in the bird out in
the country. So people are moving to Florida and a
lot of them want land. And so we've got a
parcel at one nine one five Buffom Lake Trail in
Fort Mead. Uh. This is a thirty four point four

(07:28):
acre with eight point seven eight acres of lakefront. Okay,
this is wide open, waterfront, beautiful. This would be an
exceptional property to build an estate. It would be it
could be a great opportunity to you know, for a farm,
for pasture, agricultural operations. It's a tranquil rural setting with
waterfront you could boat fish, enjoy. There's so much opportunity

(07:52):
going around this area and a rare opportunity at that
for for this much waterfront property. So this is listed
at one point one five which one point one five million,
twenty six six hundred and twenty seven and acre. You
can confirm land use details with Polk County. But because
of the flexibility of the property in its location, there's

(08:15):
a lot of different uses that could be put in.
You could, you know, build a home, you could run
your business from another portion of the parcel. You could
make it a multi family type opportunity. But again, thirty
four point four to one acres with eight point seven
eight acres of lake front wide open space waterfront beauty
on Lake Buffam in Fort Mead listed at one point

(08:36):
one five. You can get more information on that at
the Duncan Duo dot com. You can also google the
address and you know Buffum Lake, it'll prop It'll pop
up pretty much wherever you google it. And forty three
point one nine acres of total land. And so as
we see this movement towards Florida, you're we're seeing more

(08:58):
and more people want these estates type properties because you know,
they they've lived in areas where maybe it was more
dense and or they're moving. Amazingly, we're getting people moving
from California. We've not gotten that in the past. Very often.
I'm seeing more of that than I've ever seen. So
so land has become you know, high demand and because

(09:21):
of all these converging factors that are happening, I believe
you know that that now is probably one of the
best times to buy property. Uh, specifically you know, residential
geared property because of some of these tax advantages that
we've seen in a long time. So if you're a
buyer and you've been sitting on the fence, and even
if you're buying other property, understand this. Okay. People might say, oh, well,

(09:44):
it's only going to impact homestead property, so it's not
going to help my value, and that's inaccurate thinking. Okay,
because a lot of around properties have the potential to
be homestead properties and buy homestead property is getting more demand.
That will fuel more investment opportunities. Okay, it'll fuel people
moving here. It'll fuel the entire real estate market. Everything

(10:04):
will will improve, even commercial and even rental properties in
our market, even if those properties don't get property tax changes.
The changes being made to the homestead properties will move
more people here, will want more people investing, and it'll
just be a domino effect. So you know, the idea
that it won't impact other segments of real estate is

(10:26):
a false one because it absolutely will. The other thing
to look at is you know, when you look at
and you say, well, only a third of the properties
are homesteaded, probably at least another third are capable of
being homesteaded. Okay, they're rental properties that could be turned
into a homestead that then become attractive at resale, and
those investors might exit those and then move that money

(10:47):
into other you know, those transactions create momentum, it'll create
more transactions. It'll massively improve our market. And I believe
the process of the market moving towards the interest rate drops,
the fact that our prices have you know, they can't
really get it, can't really get any better from a
standpoint of value, and people moving towards the possibility of

(11:11):
our property tax reform. In addition to you know, so far,
you know, we got a few more weeks, but it
looks like a clean hurricane season for Tampa Bay. So
twenty six and twenty seven look really bright for real estate.
If you're sitting on the fence thinking about buying, stop waiting.
You don't want to miss it. I think this is
one of the best opportunities I've seen over my twenty
year career for a buyer to buy and within a

(11:34):
couple of years being a very good equity position simply
from these things that I believe are going to propel
and give momentum to our market. And I think that
the movement on taxes wants to position Florida as an
attractive place to move people here again. And it's working.
Its working. You can see it's working on social media

(11:54):
because you can look at the comments that are coming
from other people around the country talking about if that happens,
I'm okay, the real estate supply and demand. Okay, when
our market isn't great, we have high supply and low demand,
this will be like just an absolute steroid shot to
demand because it won't just be demand from our local market,

(12:15):
it will be demand from you know, the United States
of America because it will position us against other areas.
And we've never had a time where more people are
capable of working from home, running businesses from home, working remotely.
So again, I believe that now is one of the
best times that you could think of to buy real estate.
And it's simply because the long term looks very good

(12:38):
and I think in a couple of years you'll be
in a very good position. So hopefully that makes sense
We're going to be backerning continue this conversation after a
quick break here on the Duncan Duo Show. So we're
back here on the Duncan Duo Show talking about the
Tampa Bay real estate market. So a couple of days ago,
the Federal Reserve came out and cut interest rates, the
short term interest rates. And you know, every time we

(13:01):
get a FED rate cut, and I talked about this
in the first segment of the show, there's this confusion
about what's happening with mortgage rates. So I want to
kind of dispel this myth a little bit, because what
we saw this week is when the Fed cut rates
interest mortgage rates actually went up because the mortgage market
had already priced in the FED rate cut. There was

(13:23):
a hope or a belief that maybe the one guy
on the Board of Governors there was some small chance
that he would convince other people to do a fifty
basis point cut and then mortgage rates would drop more.
But they didn't because the market, as I said the
first segment, moves ahead of the data or the news
or the policy because it predicted it. So you didn't

(13:44):
see mortgage rates drop. And you know, realistically, the Fed
came out with you know, the Chairman. Powell had a
speech afterwards, and he talked about how the it is
not a foregone conclusion. Far from it. He actually said
of the interest rates being cut again this year, so
the chance of another FED rate cut got reduced. Now

(14:06):
I still think it happens, and they're kind of flying
blind right now with the government shutdown and a lack
of data and the probability on all of the you know,
the prediction markets are all still saying sixty seventy percent
that they cut rates again. But it's not a lock, okay.
So that being said, as we get closer to that date,

(14:26):
I think we'll see a little bit more softening of
interest rates. But but I want everyone to understand, if
you're waiting for you know, three percent interest rates again,
you're never gonna see them. You're gonna wait forever, okay,
And if they ever do show up, you'll be too late.
You'll miss it because everyone will have moved in anticipation
of that. And I believe the bigger story as in

(14:47):
terms of the positive impact on her market is the
property tax reform. It's being discussed, and of course another
year without a hurricane, so if you're gonna wait for
interest rates to get to that number, you might as
well just wait forever or find and find the deloreate
and go back in time, because you're not seeing three
percentage straits again, it's just not gonna happen. We're we're
not far off from the lowest point we're gonna get to.

(15:09):
We're kind of in that mid level. Historically, the rates
that we have right now are are are pretty good,
you know, their average. You know, when rates are really
really low, it's because there's some sort of phenomenon that
that that they have to move that low in order
to overcome something. If if we have rates that low,
there's gonna be a lot of other economic problems, you know.

(15:31):
In terms of where we're at today, I do think
we'll see some more cuts next year if President Trump
gets his FED chair pick and you know, he's able
to kind of guide things the right way. But but
but by no means do I think we're gonna see
massive cuts based on the based on the economy and
the data that's coming out. So if you're waiting for
those rates to drop and you wait too long and

(15:53):
then the news comes out or the vote comes out,
about property tax relief that will move the market greater
than you know, that will move the market greater than
interest rates. So the FED cut is the short term
you know rate, not the long term rate that mortgage
are there now, there is some correlation, but nonetheless there
are other factors. There's you know, some of the quantitative

(16:16):
changes that are being announced will have some impact. And
then it's just a matter of what margin banks are
willing to operate at to be able to get rates low.
Could we see the high fours again next year? Maybe? Maybe,
but we're probably not far off from you know, being
you know, kind of at the low point without causing

(16:36):
other problems or other problems in the economic system, you know,
for you know, popping their rearing their ugly head. So
as a home buyer, now is the time. You know,
I mentioned this before, great opportunity to buy right now,
But I want to speak to people right now that
are any mortgage with a rate above seven. If you

(16:57):
have a rate above seven and you have an F
or a VA mortgage, okay, there's a product called a
streamline refinance. And this is perfect timing for the holidays.
A lot of people struggle through the holidays there have
been layoffs. You know, there's economic problems that people are
struggling with, and you could do a streamline refinance that
lowers your interest rate and potentially, depending on the timing,

(17:20):
allows you to skip a payment. If your rate's above seven,
it may make sense for you to do this and
you would lower your payment and give yourself some economic relief.
So if you're someone who has that rate in your
NMVA or an FHA, you can do that streamline. Now,
the streamline refinance does not require you to qualify from
an income perspective, it doesn't require your property to appraise.

(17:42):
It is streamlined. It is simply lowering your rate. For
the most part. It is a very easy process. Go
to citywide Tampa dot com. Melissa Oscar Morgan'll reach out
to you and help you through this process. Again, it's
citywide Tampa dot Com. Definitely an opportunity for people to
lower their payment to stabilize themselves financially, and it's a

(18:03):
good time to do it with the end of the
year approaching. And so I talked before about how we've
had these sped rate cuts and we've seen interest rates
at their lowest point in probably eighteen months. And I
think we're going to see it drop a little bit.
More statistics are saying of a FED rate cut in
December is a probability in the sixty to seventy percent range.
As it gets closer to that, maybe the government opens again,

(18:25):
there's more data that comes out. I think there's a
reasonable chance that that percentage goes up, and as it
gets closer to that date, we'll see mortgage rates slide
down again. So I think there's a really good chance
of some more relief if you time it right. If
you go to citywide against citywide Tampa dot com is
are preferred mortgage company, talk to them, they'll run the statistics,

(18:45):
they'll verify the type of loan that you have, and
then they'll see are you able to very easily without
qualifying without your income, without appraisal, not your credit. It's
a they're already on the hook for you for the money.
So you know, the government backed mortgages with FAHA and
BA will literally lower your rate through a streamline refinance.
It's a great product and one that I think this

(19:06):
time of year and with the economy and the situation
that we're in, is one that you should take a
look at not a lot of people know about it.
Oftentimes we get people that make the mistake of doing
it more of a traditional refinance out of a VA
or FHA loan and incur you know, hoops and costs
and different things. So again, Citywide Tampa dot Com. It
could save you a payment, and it could save you

(19:27):
a lot of money this year and definitely something I recommend.
So read back. We're going to continue this conversation after
a quick break here on the Duncan Duo Real Estate Show.
So we're back here on the Duncan Duo Show talking
about the Tampa Bay real estate market. First segment, I
talked about, you know, just kind of overall economics of
everything happening with rates, what I'm seeing in our market,
why I believe more people are going to move here.

(19:49):
The second segment, I talked about our streamline refinance with
our partner at Citywide Mortgage Citywide Tampa dot Com. What
I want to talk about next isf typically to real
estate agents, and you know, my company having been around
for twenty years, you know, we've got policies and procedures
and standards that we've kind of operated on for a

(20:11):
really long time. And one of those things is that
we wouldn't hire people to list homes from the outside.
We coached them up from the inside. We said, hey, look,
you're going to come over and you're going to work
buyer leads, and then you'll have the ability to kind
of graduate and work the seller leads. And because of
the amount of advertising I'm doing and the kind of

(20:33):
the turning of the market, we are getting way more
seller leads than we can keep up with. And we've
just found that it is time for us to start
hiring and attracting agents that can list homes for us
from the outside. So if you're someone that's looked at
my company in the past, he said, Nope, I don't
want to go there because you know I can't list there.
I can't join their listing team. That is no longer.

(20:54):
We are looking to hire for listing agents right now
before the end of the year because of the major
buys that we're making. Experienced agents our listing a listing
agent for us from the outside, We're going to want
you to have some substantial transactions, some experience, and then
we can coach you how to be a great listing
agent with all the lead generation that we're doing, and
as well teach you on the investing side where we

(21:16):
do our instant cash offers and our guaranteed sales. So
the listing process is different with my company because of
those things. But we are looking to hire for we
We just signed up for a really big portion of
Realtor dot Com market VIP, which is going to also
fuel a lot of buyer leads and a lot of
seller leads for our company in addition to all the
mass media that we do. So you can go to

(21:36):
jointeduo dot com. You can set up a calendly link
for a consultation, you can send us a message through there.
You can DM us at any of our social media
channels if you're interested in becoming a listing agent, if
you've got some experience, and I don't mean like we
can coach work ethic. You know, we're hoping that someone's
had you know, at least a dozen or so transactions

(21:57):
in the marketplace before we before we'll look at them
in a listing agent role for us, and and ultimately
you would be coached and led by very experienced listing agents.
Some of them have been on my team for you know,
nearly ten years uh and partnered with me on my
my reo, my rehab, my Rento, visit my rento business. Uh.
So you will get great coaching, great leadership and an

(22:20):
amazing amount of leads and be able to focus on
listing homes. So, if that is of interest again, join
the Duo dot com. You can uh, you can sign
up there. You can apply for any one of our
open positions. You can also go direct to a link
uh and set a calendly appointment where you'll have a
one on one consultation and and it's a listing agent

(22:41):
for us. I'm gonna personally coach you, Okay. So our
our listing agents I have huddle a huddle call with
them every day, I have a meeting with them every week,
and I provide them one on one coaching consultation. So
you're you're getting the best of the best. Someone that's
been in the market for a long time sold three
billion in sales and I'm going to take a vested

(23:01):
interest in helping you succeed. So, if that's something of
interest again, join the Duo dot com or hit us
up on all of our social channels at the Duncan
Duo on Twitter, Instagram, YouTube, TikTok, Facebook, pretty much every
single social media outlet out there. Again at the Duncan Duo,
hit us up. If you're thinking about a change, if

(23:23):
you're unhappy, maybe you've not been taught how to list holmes,
maybe you know, maybe you're not converting, Maybe where you're
at doesn't have enough lead opportunity. All of those things
are things that we are ramping up. I am so
confident that twenty six and twenty seven are going to
be better that I have literally nearly doubled my advertising
spend as we head into the end of the year
to prepare us for growth in the next couple of years.

(23:47):
So again you're listening to Duncan do our real estate
show when we aren't on air, always hit our socials.
But if you're a home seller, a homeowner and you're
frustrated and your your house has been on the market,
you've listed it with someone else, it's failed to sell,
you've gone through multiple agents, or you inherited a property,

(24:08):
or you've got a property it needs a lot of work,
a rental property that you don't want to deal with anymore.
We offer an instant cash offer outlet. We have one
right now that we went into a contract. We're closing
in a week. Okay. So if you want quick cash
and you just want out, okay, this is the path
for you. Just hit up dunkin Duo dot com, type
in your information. My team's gonna reach out. We'll set

(24:30):
up an appointment to take a look at the house.
We are different than the typical, you know, kind of
bait and switch buyers that are out there. What the
reason I say that is because they'll make you fill
out it online form. You're gonna generate an offer online
and they're gonna tell you here's our offer. Then they're
gonna come out look at the house. I'm gonna beat
you down. They're gonna say, oh, well, you didn't tell
us this, so you didn't tell us that, okay. And

(24:50):
then and then they're gonna throw in some fees in there.
And then they're gonna say, you gotta close at this date,
and you got to be out by this date. It's
gonna take this much time, and you've got to They're
gonna make you jump thro a bu hoops. Their corporate
Americas are a great big hedge fund. Okay, I'm not that.
My fund is you know, funded and supported by by
my business personally locally are we are a lot more flexible.

(25:13):
We can close fast. There's there's homes that those companies.
So if you've gone online and typed in and looked
and seen it in one of those companies, you know
you don't like their terms or they won't buy your
house because of one thing or another, we might Okay,
so we do have the instant cash It is the
right option for a lot of people. It is not

(25:33):
the right option if you want maximum cash, Okay, If
you want the highest amount, the retail market is the
right place for you. If you want the best convenience,
the cash offer program is the right path. The reason
why they're different is because no one is going to
put their cash into something that they can't get a
return on investment, especially in why I believe the real

(25:53):
estate market is starting to turn the corner, and I
believe the next year or two is going to be great.
It's not there yet. So if you're in a tough
finance position, if you've inherited, if you've got a bad
rental property, all of those things are reasons why you
might just say you know what, or you've got an
investment opportunity in something else. Then you've got to liquidate
a property or two. So you can go to dunkin
duo dot com Again, just fill out your form, ask

(26:14):
for a cash offer, and we'll reach out and see
what we can do to help. Again, it's the convenient path,
not the highest price path. And are our team will
sit with you and give you your options. They'll say, hey, look,
this is why we think the cash offer is right
for you. If your house needs a lot of work,
maybe you can't put it into the condition that'll get
it to qualify for financing, and the cash offers right

(26:35):
like I said, or if your motivation levels to a
certain extent. But there are times where we'll meet with
someone that wants a cash offer and will say, look,
here's what we get on cash offer, but your house
is in such good condition you should put it. We
should we should go on the retail market. So we're
going to give your options and let you pick. There
are a lot of companies out there that don't do
it that way, but we offer a hybrid model and
we're local. Are are everything's going back into the local community.

(26:57):
This isn't supported by some Wall Street, you know, Hedge
fund that's taken the profits and distributing them to shareholders.
These are local people, my local team that has a
financial vested interest in the success of the business. And
they're the you know, they're they're you know, you know,
contributing to charities locally, they're paying you know, taxes locally,

(27:18):
they're living here locally, giving to the schools, and you know,
so I'm a firm believer that uh, you know, there's
a segment of the population that looks at the home
buying process uh in terms of an instant cash and
they're turned off by the big guys that are just
Wall Street. You know, they're just taking over the industry.
We're not that. Ours is is you know, local people.

(27:39):
So again, just hit up Duncan Duo dot com if
that's something you're interested in. Again Duncan Duo dot com.
So I've got some guests coming on the show over
the next couple of weeks. Next week we'll have two guests.
We'll have Melissa Rodriguez with city Wide Home Mortgage, who's
been on the show a few times. We'll we'll get
to talk to her about UH trends and mortgages. We

(28:02):
get towards the end of the year. I've got Justin
Cabairo from Caballero from Revive UH Design and Renovation that's
going to come on and talk about, you know, the
difference between why renovate versus why sell and buy? UH.
There are plenty of people out there that are there
that constantly have the debate of, you know, should I

(28:24):
renovate the house or should I sell it and buy
another one? So so we'll have those and we've got
some homebuilders coming on as well. And speaking of home building,
this is one of those areas where, you know, I
want to really encourage first time home buyers. If you
or someone you know or your kids are thinking about
buying a first time home. Some of the worst horror

(28:45):
stories I hear with first time home buyers are when
they buy a product that isn't really right for first
time home buyers. And here's what I mean by that.
First time home buyers are used to living in an apartment,
used to having a landlord that they can just call
up and fix anything. Okay, They're used to that, and
so when you rip that band aid off and sell

(29:07):
them a bungalow in Seminal Heights, a lot of times
it doesn't. You know, one hundred year old bungalow. A
lot of times it doesn't go well, a lot of problems.
You're gonna have maintenance, you're gonna have repairs, you're gonna
have things break because it's one hundred year old house.
It's gonna be expensive, and it turns off and spooks
a lot of home buyers because they've heard the horror
stories from the friends that have done those things. Okay,
it looks great on TV, it looks great on house hunters.

(29:31):
It sounds sexy to renovate your house, make it your own,
and take this historic thing and make it cool. Okay,
but they're really experienced people that fail at that too.
So as a rookie, my strong recommendation to first time
home buyers is buying a new, brand new construction house.
We can help you with that. They're incentives of working

(29:51):
with an agent. We can make sure to negotiate and
get the best deal for you. We know the offerings
from the different builders, we know the different communities, we
know the pros the cons of those communities. But financially,
you're going to get lower taxes, lower insurance, and typically
lower maintenance costs because you have a warranty. It's kind
of like the step up from you know, the the

(30:15):
apartment life to being a homeowner because you still have
the builder to call to fix stuff. Because you're under warranty. Okay,
you don't have as much to take care of and
as much to go wrong because it's new. Okay, it
doesn't mean there's nothing. It's a man made product. Things
can fail. You can still get roof leaks when the
storm's hit, okay, but it's there are less issues. Okay.

(30:35):
So to me, first time home buyer should really really
look at new construction something we can help you with.
But new construction provides, you know, the warranty. It provides
some lower costs, easier utility bills, lower insurance bills, and
kind of a stepping stone to you know, home ownership,
to where maybe the second or third home you can

(30:56):
buy the whole historic, historic bungalow and you've gotten used
to being a homeowner and understand the process. But we're
just this past month we've had two people come to
us that weren't that didn't buy with us, bought with
someone else and bought historic bungalow trendy neighborhood kind of
stuff that's one hundred years old, they've lived in it
for a year and they are ready to go. Okay,

(31:18):
they are ready to check out. So if your first
time home buyer, please listen, you know, proceed with caution.
If you're going to buy an older house, okay. And
even if you don't go brand new construction, the newer
the home, the less likely you are to have obstacles
as a first time home buyer. It allows you to
kind of move and not skip the process. Too. Many
people want to skip the process. They want to go right,

(31:40):
they want to go right to their dream home, you know,
and unfortunately, unless you have an unlimited budget, it's probably
not happening. So it's part of the stepping stone process
of becoming a homeowner and getting acquainted with home ownership.
So hopefully that helps you. But I believe so many
buyers in the marketplace would be better served by looking
at new construction first and even weighing it from a

(32:01):
standpoint of even if it's not quite the area that
you want to be in, it's in a fifteen minute
extra drive for you every day, but it checks off
all of these boxes and will save you money on
all of these things, then it may be the path.
And you know, we've got a lot of great builders
and builders that are offering incredible incentives right now with

(32:21):
interest rates and different things that we can help negotiate.
So strong proponent of first time home buyers looking at
new construction readback. We're going to continue and wrap up
our show with the last segment after a quick break
here on the Duncan Duo Real Estate Show. So we're
back here on the Duncan Duo Show talking about the
Tampa Bay real estate market Andrew Duncan with the Duncan
Duo when we aren't on air at the Duncan Duo.

(32:43):
If you're an experienced agent that wants to get great
at listing homes, we are hiring hit up. Join the
Duo dot com or message us on any of our
social channels again, Join the Duo dot com or at
the Duncan Duo Twitter and Instagram, YouTube, TikTok, send us
a DM and we'll get you started on the process
potentially joining our team as a listing agent. We are
looking to hire four because our business is blowing up

(33:06):
and we are launching into some new advertising. In twenty
six twenty seven, and we need to coach some agents up.
I'll be personally coaching you, you know, on a daily basis,
and you know, helping you grow. Not just helping you
learn how to list homes, but you'll have the opportunity
to learn how to invest, how how to flip real estate,
how to work on our rehab team that helps and

(33:29):
has the opportunity to invest in projects that we buy, renovate,
and resell. So again, join the Duo dot com for that.
But I want to talk next about the bane of
my existence, solar panels. If you are a home buyer, okay,
I want you to understand that selling a home with

(33:49):
solar panels that you still owe money on is like
the scarlet letter of real estate. Okay. I can't encourage
you enough to not get solar panels the way that
they're structured today, unless you're buying them in their entirety okay,
unless you're writing a check to pay them off, or
you're going to do it before you sell the house,

(34:12):
selling the house and assuming that the buyer is going
to want solar panels, okay, or that they're going to
take over payments in an environment economy that we have today,
literally kills so many home sales. I cannot tell you
how many times homes don't sell because the homeowner thought
that everyone would love solar. They bought the sales pitch

(34:32):
from the really good salesperson that knocked on their door
to sell them solar, that it's going to make the
home more valuable. We are not in the planet yet,
we're not in the world yet where it's making your
property more valuable. Unless you're on some estate type property, ranch,
income producing with animals, something, then maybe solar would be valuable.

(34:52):
But for the everyday homeowner, it's a nuisance. Most homeowners
don't want it. Most homeowners don't want to have the leak.
They don't want the ugly thing on the roof. They
don't want the payments. They don't want to take over
your high interest rate loan. They don't want it. So
if you're thinking about solar, or you have solar, pay
it off if you can, or your house isn't going

(35:13):
to sell because every buyer is going to click next okay,
or don't do it unless you're going to live in
the home long enough to pay it off. It Literally,
I cannot tell you how often solar panels and the
cost of them destroy home sales. The way the language
is worded and most of the agreements makes it impossible

(35:33):
to transfer that to someone else or assign that loan
to someone else. Sometimes it's least I mean, it's some
of the deals that people enter into for things that
permanently attach to your home make it impossible to get
your home sold. It is this scarlet letter. Realtors will
avoid your house buyers that have looked at homes and
figured out what would cost that don't want solar. You

(35:56):
shriek your buying pool dramatically by a by assuming that
the buyer wants your solar panels. The majority of them don't.
The majority of them will in the inspectrum, we'll find
something wrong. You bought the sales pitch from the solar guy.
I get it, okay, pay it off right, or don't
do it. If you're looking at doing it now and

(36:18):
you're going to sell your house in the next couple
of years, run okay. Run. It has cost so many
homeowners tens of thousands of dollars in equity and homes
not selling because they're trying to stick that solar panel
deal to the next buyer. That doesn't want it. The
buyer wants that ripped off the roof. The buyer doesn't
want the solar. They don't want the risk that it's

(36:39):
going to start leaking, or that the holes in the
roof are going to cause a problem, or guess what,
in case you haven't noticed, we get hurricanes. How well
do you think those solar panels do? And how great
is it on your roof when it's getting hit one
hundred and twenty mile an hour wins. Okay. So again,
if you're buying, if you're going to stay in that
house for the long term and you're going to pay

(36:59):
off the panels, great, Okay. Understand it's a personal choice.
If you have any intention of selling that home, before
you enter into that agreement, I would tell you to
think twice. Talk to a few real estate agents and
they will tell you the horror stories. You know, we
are in you know it's Halloween time, right, it is
this season. We're about to become Thanksgiving and Christmas, but
we're kind of at the tail end here of Halloween.

(37:22):
If we're talking horror stories for real estate, ask any
real estate agent and they can tell you it's like
the Chinese drywall of back many years ago with how
bad the scarlet letter and labeling is of the home
when it's got soldar, do not do it. And look,
I'm probably gonna get some hate messages from pro solar
people saying solar is the best thing ever, and I agree, like, Look,

(37:44):
I'm a proponent of it. When I move out to
the country, I'm going to have it right, but it's
not going to be on my roof and it's going
to be my forever home, and I'm going to write
a check for it. If you can't afford buying it
and writing a check for the solar, don't do it.
The deals it blows up to you all day long
every day, and the buyers are not educated enough to

(38:04):
understand the value prop and there's too many horror stories
and they don't want it. The majority of them don't
want it. It's why the majority of Americans don't have
solar panels. If you drive through any you know, neighborhood,
any any cookie cutter neighborhood in Tampa Bay you drive through,
that's why the majority of the homes don't have solar
panels on the root, because the majority consumers don't want it.
You shrink your buyer pool. You're killing yourself financially, You're
making it way harder to sell, and it's going to

(38:26):
cost you way more money than you think to get
out of that deal or to try and get the
buyer to accept either buy them if you're can afford them,
write a check. If you can't afford it, don't do it.
It's not going to help sell your home if you're
going to be forced to sell it in the next
couple of years. So hopefully this PSA is helpful. Again.
I deal with it all the time, My agents deal
with it all the time, and it's always it always,

(38:49):
you know, messes up a sale, hurts a person's equity,
shrinks their buyer pool again the times that it doesn't
if it's paid off okay, and if if you find
a buyer that wants it okay. Again, it's like a
needle in a haystack, right, It's just not evolved to
the point of being as accepted as people want it

(39:10):
to be, the people that buy it or the salespeople
that sell it to you. It's just not as accepted yet.
It costes too many problems. So if you're one of
those people that has to sell homeless solar panels. Look,
we're still here to help you, but an instant cash
offer may be the path for you because then that
person can deal with it. Then that person can buy
it out and pay you cash and remove it. But

(39:31):
you're going to take a hit to your equity and
you just don't realize it. So many, so many solar
salespeople are not telling you the cons. They're telling you
all the pros. Okay, but when you go to sell
the house in two years, like I said, Scarlet Letter,
really and we appreciate you tuning in every Sunday. We're
here at ten on WFLA knows when we aren't on
air at the dunkin do or dunkin Duo dot com.
And I hope you have an awesome rest of your weekend.

(39:53):
Tampa Bay