November 23, 2025 • 38 mins
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Speaker 1 (00:00):
Happy Sunday, Tampa Bay. We're with you for another week
here on the Duncan Duo Real Estate Show talking about
the Tampa Bay real estate market. Andrew Duncan with the
Duncan Duo team at LPT Realty at the Duncan Duo.
Anytime we aren't on air, falls on all of our
socials and get the update on everything going on in
the Tampa Bay real estate market. Again at the Dunkin Duo.
(00:23):
I want to talk first and foremost today to the
home sellers out there that have had their home fail
to sell. Now, this is something that happens every year
around this time. Having been in the real estate business
for more than twenty years, I see this time of
(00:43):
year you just get a surge of people who are
frustrated whose home didn't sell. And after selling number three
billion dollars in real estate, We've got a track record
of helping people sell their home that failed to sell
with someone else. So this is you. I've got some
tips for you today and I want to help you
understand how to get your home sold in twenty twenty
(01:04):
six or by the end of this year if it
has failed to sell in twenty twenty five, the number
one thing that I see over and over again when
a market shifts, and this year was a shifting market
for us. We got hit with hurricanes at the end
of last year. We've had high interest rates for a
while that have started to have a little bit of relief,
(01:26):
and you know, our real estate market just not as
healthy in twenty five as it had been in prior years.
And so with that being said, when that occurs, the
real estate agents that have gotten in the business, a
lot of them that haven't been around long enough don't
know how to adapt. So what I find is a
lot of you know, overpriced homes, a lot of mismarketed homes,
(01:51):
a lot of things being left on the table to
get home sellers to the finish line. And so when
the market is really hot, it's super easy for homes
to sell. Real estate agents look like superstars are selling
in a matter of days. Home sellers can set their
price and everything is sunshine, rainbows and unicorn fairytale fantasy
(02:14):
land is like is how I like to call it.
When the market changes, everything changes along with it, so
every little detail matters. I see things on a very
regular basis, like the school district not being right, or
the pome being over priced, or the photos or the videos.
So it becomes super crucial to have the right marketing
(02:36):
strategy and also the right price. There are a lot
of agents who during the upswing got used to just
telling sellers the price they wanted to hear, because even
if the home didn't sell, it would appreciate and get
to the number that the home seller wanted. And so
what I see now is when is a lot of
agents still offering that same philosophy. When a seller wants
(02:58):
to sell the the agent tells them the number that
the seller wants to hear, the house goes on the market,
and then all the while they're chasing the market down,
lowering the price, trying to change things, all because the
agent wasn't firm enough at the very beginning to tell
them an accurate, real price and be honest with them
instead of just, you know, kind of what I call
(03:19):
being an order taker. So the order taker realtor that
has survived the last few years has failed. In twenty
twenty five, Fewer and fewer of them are selling homes,
and a vast majority of real estate agents didn't do
a single transaction in twenty twenty five. So if that's you,
if you're with an agent that hasn't gotten your home sold,
it very well could be that you've got an agent
(03:41):
that is one of those order taker agents that hasn't
been coached or taught how to sell in the challenging market.
So the things that I have for you today first
and foremost. If you're listing has expired or it's going
to expire by the end of the year and you're
not happy, you know, a change, a change of strategy,
you know, a change of approach, different photos, a different
(04:04):
marketing strategy, and very likely a different price. If your
house didn't even get offers or showings, that realistically is
probably not your agent. That means you're just way overpriced.
If your home has a decent amount of traffic and
is getting showings and has gotten offers, it may not
be the price. It could be the marketing or the
agent's negotiating. But if you're not getting offers at all, look,
(04:27):
even the most horribly marketed, bad photographed house, if it's
priced right, is going to sell and get offers. So
the likelihood is is your house is overpriced. So the
first thing you need to do is consider adjusting the
price now. The second part of that solution is adjusting
the price in an environment that can get eyes on
(04:47):
your home. Look. The longer your home is on the market,
the fewer home buyers are interested in it, the fewer
that want to look at it because they think something's
wrong with it. Even if you've been on the market
several months and you lower it to the right price
ice or even an aggressive price, it may not be
enough to get the activity back and to get the
interest back. You can look at stocks and stock market
(05:08):
and have an understanding of how this works, because even
like a stock that's horribly performing will come out and
have like some great earnings or something good happen, and
the stock still doesn't recover because it's not enough. Okay,
so so price obviously important. A different voice, a different
agent is sometimes often needed. The third thing is get
(05:31):
an agent that's gonna do the right things to get
your house off the market and do what is necessary
while it's off the market in order to get it sold.
There are two reasons why your house needs to come
off the market. One, you need the market to reset.
If it comes off the market for sixty days, the
days on market resets, meaning it comes back on as
(05:52):
a new listing. You're in front of a new crop
of buyers and it doesn't have that stigma that lots
of days on market stigma. There's not a lot you
can do to overcome that. It's it's like you know,
going to Walmart and buying you know, stale potato chips
that are expired. You look at those on the endcap
and it doesn't matter what it's priced, doesn't matter if
Walmart sticks it right in front of your face, you're
(06:12):
not buying it. It's the same thing for real estate.
You can stick it right in front of people's face
and lower the price and have this incredible price, but
it won't matter if it's been on the market too long.
So you need to reset the days on market. The
second thing is is you need to reassess your strategy.
Are the things within the home from a decoration standpoint,
from an upgrade standpoint, is it was it not clean?
(06:34):
Was it a bad day for photos? Was it not
blue skies and sunny outside? All these things are things
that a new agent can come in and help refresh
all of that. You also can create some pent up
demand in that sixty days an agent with a solid
database that's been around a long time, like my company.
We've got a database of over two hundred and fifty
thousand people. We can see the agents to sell in
(06:55):
your neighborhood. We can target market the home to them
before it's on for it's even on the market, so
that the day it comes back on the market, after
that sixty days is up, it gets action quickly. So
you have to separate yourself from your desire to get
your home sold, and you're in terms of expediently and
your desire to get your home sold the right way.
(07:17):
A lot of people want to come off and go
right back on because man, I just want to get
it sold. Okay, it's about doing it right, not just
about checking a box. If your goal is to just
check a box and just get it back on the
market because you think that it'll actually help us sell,
you're gonna lose, and you're gonna lose more than a
couple of mortgage payments you might be trying to save
because you're going to continue to eat up those days
(07:38):
on market, have that stigma attached to it. A lot
of times your house needs to come off the market.
You need to figure out how to economically or financially
make it happen so that you can do that to
give yourself the best chance at selling and likely a
higher price than a couple of mortgage payments you're trying
to not spend by keeping on the market with a
bad strategy. Nothing is worse than keep being a home
(08:00):
on the market with bad strategy when it's already got
high days on market, it's already been out there a
long time, it's already been overpriced, every buyer in the
market is already clicked. Next, last, but not least thing
that you need to do to help solidify and prepare
yourself for getting your home sold that has failed to
sell in twenty twenty five. And look, I've already covered
(08:21):
the important ones. Your price, Okay, your price is important,
you're the agent that you have it coming off the market.
And then, last but not least, addressing condition issues. Okay,
the home is going to get inspected when you buy
it anyway, if you've got things that are visibly wrong
with your house, like visibly wrong. I'm not talking the
(08:44):
little minor things that are going to come up in inspection.
I'm saying things that a customer can look at and
visibly see there's a problem with and I don't mean
like something they don't like. I mean a defect like
a leak that wasn't the cosmetic wasn't repaired, or something
not working, or scratches or rooms not painted or carpets
not cleaned. It isn't necessarily important for you to go
(09:08):
spend a bunch of money. I'm not saying you need
to go and massively renovate your house. But here's what
you don't understand. Living in your house or even staging it,
decluttering it, letting people see the house versus your stuff.
All of these things are things that you need to
do to improve the presentation of your home. Go to
a new construction builder, okay, go to any new if
(09:31):
you want to know what to do to get your
home ready for sale. Follow the money, okay, follow the
multi billion dollar organizations that sell thousands of homes a year.
Go into one of their sales centers. Okay, walk one
of their model homes. That's the vibe in the field
that you need to have in your home. Now. You
may not be able to completely recreate that, but you
(09:52):
want to get as close as possible to that if
you're selling your home and you want the most amount
of money and you want to sell when it's failed
to sell, you're going to have to do a little work. Okay,
You're going to have to have a vested interest in
the success. Go to a builder, model home, walk through it,
take some tips, and then go back to your house
and do what you can to replicate that. Now, that
doesn't mean by all new furniture. It doesn't mean, you know,
(10:15):
make all kinds of upgrades. Okay, I'm not saying changing anything.
I'm saying decluttering, cleaning, clean your carpets, steam clean everything.
Get your house immaculate. Get down all your junk, all
your personal photos, all your clutter, all your boxes a crap,
get it all out of there, move it out, okay,
get it to storage. You want your home to feel
(10:36):
as close as it possibly can to a model home.
The closer you get to your home feeling like a
model home when someone walks through it, the greater the
chance that you have of selling and the evidence is there.
It's why the largest home sellers, the people that sell
the most amount of real estate in the world, do
model centers in stage homes. Okay, it's why they don't
(10:57):
show homes with people in them. It's why they don't
show homes with tenants in them. Okay, it's why they
don't want, you know, people there. The last thing that
I'll tell you that fails a lot of home sellers
is you being there. Not just there, but like the
aura of you being there. Okay. Like if the home
feels like yours to the buyer, they can't fall in
(11:19):
love with it. Okay, they can't. They can't emotionally attach
to it. It's too branded to you. It needs to
be neutral. And similarly, if you're there during showings, of
course they're not going to be able to fall in love.
Imagine like how hard it was to fall in love
on a first date the first time you met your
spouse if the parents were behind you the whole time. Okay,
(11:40):
that's what it feels like. When your president of showing
the buyer can't emotionally attach, you're basically telling them they're trespassing.
You're bothering them. They're not looking for the facts. They
don't care about the age of the ac They don't
care about your kids and where they grew up and
how they had fun in the backyard. They don't care
about you. They want to fall in love with your house.
If you want to sell your house, get out of
(12:03):
the way. Okay, So those are my tips today, and
I'll break them down again one last time. You want
to declutter, make changes to eliminate the aura of problems
wrong with the house. You want to get it looking
as much like a model home as you can. Sometimes
it's got to come off the market for a little bit,
adjust your price, hire a new agent, come up with
(12:25):
a new strategy. Hopefully that helps you. And look, we'd
love to interview for the job of being your new agent.
If you need a new strategy, if you need a
new marketing approach, hit us up Duncan Duo dot com.
We would love to apply for the job of getting
your home sold. Again. That's Dunkin Duo dot Com. And
I'm going to be back 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
(12:47):
estate market. Andrew Duncan with the Dunkin Duo team. I
talked in the first segment. I really focused the first
segment on home sellers whose homes haven't sold in twenty five,
I gave you some tips. We're applying for the job too.
Strategy on how to lower your price, improve your marketing,
come off the market for a little bit, and get
your house to look like a model home. Declutter makes
(13:09):
small improvements, not massive upgrades, but just declutter. Clean, clean carpets,
touch up paint. Get your house to move in the
direction of looking like a model home as best you can,
and that gives you the best chance at getting your
home sold. And of course, if you want an expert
to take care of all of that for you, just
hit us up again at Duncan Duo dot com. Got
(13:31):
a couple of featured properties this week. Our first one
one one six four calf Path Drive. Absolutely love this
house in the West Chase Area exclusive community of high
Our Highland Park, one point zero three acre conservation lot,
fifty three hundred square foot home, five bedroom, five and
a half bath design for everyday living and perfect entertaining.
(13:53):
Primary suite welcome. Just again a long list as well
as a whole home generator, tankless water heater, impressive energy
performance and one of my favorite things is the three
car garage. So one one six two four calf Path Drive.
You can hit up the Dunkanduo dot com to learn
more about that featured property uh and to see all
(14:14):
of our listings again at the Duncan Duo dot com.
I want to talk to buyers really quickly because this
is also a time of year when people are thinking
about their plans for twenty six and look, interest rates
have softened. Our real estate market took it hit in
twenty five, and the people are very bullish about it
being better in twenty six. As am I. I think
(14:35):
we'll see some more interest rates softening. I think we'll
see some some Washington DC is going to make some
moves in terms of, you know, pro housing initiatives, and
I just think it's going to be a great real
estate market for Tampa Bay in twenty six. So if
you're thinking about buying a home, I want to give
you the tips. I did a video about this this week,
(14:58):
and I want to talk to all my listeners and
give you tips. Now. Whether you're an experienced home buyer,
whether you're a first time home buyer, these things all
apply to you. Because the game has changed a lot.
It's not the same as it used to be. Okay,
the first thing that you want to do is understand
what's in your credit report. You want to know what
your score is, and you want to look for errors.
You want to know you know, is everything reporting properly,
(15:19):
is your debt to income? All that stuff is accurate.
You're scoring your amount o your credit profile, any any collections,
mistakes or errors, work on getting those resolved. I've seen
far too many customers not pay attention to it and
think their credit's great, and then go out to buy
a house and then find out there's a negative item.
They've got a dispute, and it harms their ability to
(15:40):
get qualified or buy their dream home. Second thing that
I would encourage you to do is start planning for
your down payment. If you have enough for the down payment, great,
If you don't, you've got to start saving for it
to figuring out where to source it. Okay, if you
qualify for a lower no down payment, terrific. But if
you are going to put down money, you've got to
(16:03):
know where that's coming from. Either, you've got to start saving,
You've got to figure out where you're gonna take it from.
From an investment, you can you can penetrate four O
one K and I right through a loan process or
things that you can do like that to buy a home.
The next thing, start the process of talking to a
mortgage lender and a CPA about your taxes, especially if
(16:25):
you're self employed. Self employed people are notorious for writing
a lot of things off. If you write a lot
of things off, your income may not look as well
as it needs to look to be able to qualify.
It could cause some problems. So it's important before the
year closes to get with the CPA and your lender
for next year and say, hey, I want to buy
next year, what do we need to do. Here's my
(16:46):
taxes from last year. What do we need to do
before the end of the year to get my taxes
to look in a place where I'll be able to qualify, okay,
especially if you're self employed. Self employed people far too
often say, oh, I make two hundred grand a year,
and then when we get ahold of their taxes, it's
forty grand a year. Okay, So do take those steps now.
The next thing that I would tell you start figuring
(17:06):
out the neighborhoods that you like and honing in. Nothing
is worse than not really knowing what you want and
buyer's journ notories for coming to us and saying, yeah,
I want a three to two and you know sun
City Center, and then they buy a three two in
Riverview or a three two in Northdale. Okay, so hone
in on the neighborhood. It'll make your agent's job easier.
It'll also make it easier for you to focus on
(17:29):
homes that you like. Make sure that you've commuted back
and forth to that location during rush hour times. Okay,
so you know ahead of time that that's really the
area that you like to be in. Do the research
on the schools, do the research on crime. Your agent
really can't help you with a lot of that information. Unfortunately,
there's regulations and laws that prevent us from doing that.
But do your homework now. The last thing that I
(17:51):
would say is you prepared to forge into home ownership
in twenty twenty six, is don't go into crazy dead
over the holidays, don't open up new lines of credit,
and don't spend too overly, too much that you can't
pay off. Far too often we find people they'll have
a man, they did lots of Christmas shopping, or they
got new furniture on a zero percent interest rate, or
(18:11):
they bought a new car and then it completely destroys
their ability. The sales are gonna be great. Look, we're
in black Friday season. The sales are gonna be awesome. Okay,
there's gonna be car sales and furniture sales are gonna
be everything under the sun. But what's more important to
you the new computer, the car or the house of
your dreams? Okay, it's the most expensive thing you're gonna buy.
(18:32):
Show discipline during the holiday season with your expenses and
your spending, and it'll give you a better shot at
buying a home in twenty twenty six. So don't resist
the urge to buy the sale, or the no interest
or the barrigains that people tell you or out there
during the holidays. They are out there. But if you're
buying a home, the last thing you want to do
(18:53):
is get into too much, too much debt prior to
the end of twenty five and then it and then
it harms your ability to buy a home in twenty
twenty six. Hopefully that's helpful, and we also would love
to interview for the job helping you buy your house.
You can hit us up at the Dunkin Duo dot com.
You can do a home search, home valuation, contact us,
look at our featured listenings, and so much more at
(19:15):
the Duncan Duo dot com. And I'm going to be
back 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. Andrew Duncan, the
Duncan Duo team at LPT Realty, and I made a
funny post on Facebook this week and I said that
our company is hiring crypto bros that lost it all
in the recent crypto downturn to jump into real estate
(19:39):
sales and make it all back. And it prompted me
to think about a segment today where I talk about
the differences between real estate investing and other investing and
why I'm obviously a proponent for real estate. I'm obviously biased.
I've done incredibly well with it. I've built multiple real
estate businesses, own a lot of property, have owned a
lot of property, and I certainly do invest in other things.
(20:02):
I certainly invest in crypto and in the stock market,
in private equity. But I want to make a case
today for why you should look at real estate and
the pros of real estate compared to the cons and
then of course compared to other asset classes. And I'm
going to start with crypto well first and foremost. One
of the big proponents of real estate over crypto is
that it doesn't have these huge fluctuation swings like four
(20:23):
and five percent in a single day. Real estate is
the slowest moving market in the world. It's very consistent.
It takes a lot to move it into a different direction.
So when it's going up, it keeps going that direction
for a while. When it's going down, it keeps going
that direction for a while. But it doesn't move dramatically. Okay,
So you're not seeing these huge swings and surges. It's
(20:46):
not as emotional, it's not as depressing. Your real estate
one day isn't going to drop five percent like your
crypto account could, okay, or ten percent. Even real estate
is again slow moving. We're talking you know, a few
percentage points a month at most is a massive move
for real estate. It's usually you know, the appreciation over
a whole year. The tax benefits of real estate are
(21:08):
something that gets lost a lot of times. You're able
to depreciate property. You're able to take deductions that you
don't get to take. You also have the ability to
personally improve the property you can't personally. I mean, unless
you're bitcoin mining at a high level, you're not improving
your bitcoin holdings. Okay, you're not improving your stock in Google.
You're not going to go out to Palo Alto and
(21:29):
you know, work on improving Google's valuation of your stock.
You can, however, repaint the rental property you own. You
can patch the roof, you can improve the yard, you
can add mult, you can sob the front yard. There
are things you can do to real estate to improve
the value of it that you can't do with other
asset classes. The other thing I would say about real
(21:49):
estate that I think makes it more compelling than some
of the other, you know, asset classes is the ability
to leverage it. You can loan against it. You can
and get loans for it and really low down payment
loans that you can't get those same loan to value
on other assets. So it is more highly leverageable. And
while I may not necessarily recommend that for most consumers,
(22:11):
if you're a real estate savvy, real estate investor and
you know, cash on cash is the most important thing.
You can buy real estate with lower amounts down versus
the capital you might have to outlay to buy another asset.
So you can also pivot and use real estate for
you know, for other things. You can buy a home
and then you can turn it into a rental. You
(22:32):
can you know, you get use out of your real estate.
You either live in it, right it's your primary residence,
and of course you want it to grow in value,
but you're also using it as a place to sleep
every night, and and you know, personally improve and get
a joy of life out of crypto and stock investments,
you're just kind of sitting in a cloud. And while
historically sometimes crypto and sometimes certain stock classes can outperform
(22:57):
real estate over periods of time, they lack from a
pure appreciation percentage standpoint. When you break down the financials,
the depreciation and tax benefits of real estate starts to
even it up without as much risk. Now few downsides
to real estate. Obviously, from an insurance perspective, there are
(23:17):
chances of storms destroying your property, especially if you don't
have proper flood insurance or proper home insurance. You're bitcoin
sitting in the cloud, not likely to just to get
destroyed by a storm. Okay, your other obstacles with owning
rental property is that it takes work, It takes effort.
You know, if you're either flipping real estate, you're gonna
(23:39):
have to manage people, you have to make decisions, you
have to go buy the property. If you're renting real estate,
you're going to deal with tenants or you're going to
hire someone to deal with tenants. And then it's going
to be an extra cost associated when you own public
or private interests in companies or crypto, those are things
you don't have to deal with. You're not you're not
getting calls about the toilet or this or that. So
(24:02):
I'm a big proponent of real estate. I think there's
a lot of pros with real estate. I think it
should certainly be one of the foremost asset classes that
people pay attention to. It is created the most millionaires.
Certainly room for crypto and other things in the portfolio,
but those are some reasons why I think people naturally
should gravitate more towards real estate if those other asset
(24:22):
classes don't work for them. I was talking to somebody
this week that had put a lot of money into
crypto and had done well for a while, and then
didn't do well for a while, and then now this
this constant fluctuation. It's up five percent, it's down five percent.
It caused them so much anxiety. You know, they're just
not made for it. There are some people that just
aren't made to deal with the ups and downs of
(24:45):
crypto or high volatile stocks, and they would rather have
something consistent where even if it's maybe not as great
of a potential return, you don't have the downside and
you don't have all the anxiety because again, real estate
is slow moving. So speaking of real estate being slow moving,
I want to reiterate something I talked about last week
(25:05):
that we run into client problems with clients sometimes because
real estate is the slowest moving market in the world. Again,
it is the slowest moving market in the world. Okay,
because of that. Because of that, you know all of
the things that it takes to move the needle for
either home sales to increase or price to appreciate sudden
(25:29):
changes in the world government, in the national government and
state governments. You know, discussions about new policy changes or
you know, abolishment of property taxes, or more people are
going to move here from New York because Mandoni got elected,
or the President Trump tweets out that we're gonna give
a stimulus, or we're gonna do we're gonna do fitty
(25:51):
year mortgages, or we're gonna do portable mortgages, or or
interist rates are going to drop. Right Like in the
stock market, those things can be very manipulative. You know,
you can have some sort of release or some sort
of announcement about something, and then a certain stock or
asset class can move very, very massively. Okay, real estate
doesn't work like that. Okay, the values of real estate
(26:15):
are not immediately being positively or negatively massively impacted because
of any policy, because first off, the policy's got to
get announced, it's got to get implemented, and it's going
to have time to work. Okay. So you know, we
had people this week call us and say, oh, we
want to raise the price of our house because Mamdanie
got elected in New York. That is the dumbest thing
I've ever heard in my life. It is just not reality.
(26:36):
Your home isn't worth more money because the mayor of
New York City is a socialist. It just doesn't exist. Now,
could a few years down the line because of how
slow moving real estate is and how complicated it is
for the market to move, and could a few years
down the line to have a positive impact. Yes, and
I think it very very well. May. But that doesn't
(26:58):
mean your home is gonna now suddenly a praise. The
appraiser isn't coming out looking at your house saying, oh,
let me see here, here's the numbers. Okay, well, here's
the bump for muddani like it just doesn't happen, or
the bump because the President said fifty year mortgages are coming.
The mark is real estate doesn't move psychologically and emotionally
like the stock market is very slow moving. So these
(27:19):
things that happen politically until the results actually happen, until
the things pass and until there's enough time for it
to have impact, it doesn't move our real estate market.
We have no idea that this guy's gonna get elected
and get anything passed at all. Okay, he may pass nothing.
It could be just a bunch of political promises that
never get net like most politicians. Okay, Similarly, fifty year
(27:41):
mortgage gets flood. We have no idea if that'll ever
happen portable mortgage, which I think there is. I think
that's laughable that people buy that that could possibly happen.
They're like, I love the idea of it. But also,
as a guy that owns a real estate company, a
title company, and you know, has a mortgage branch, I
don't see any possible way to appease all of the
(28:03):
people whose hands are in the cookie jar of the
mortgage world to be able to let people just popular
mortgage onto something else. I just don't see that happening.
That is way too complicated. And I'll give you an
example as to why some of this government intervention into
real estate won't work. Okay, go to the DMV. Go
to the DMV and see about what your experience is
(28:24):
like going to the DMV and how many times you
have to go in there with different paperwork, and how
long you have to wait and you take like a sticker,
You take like a little sticker. I mean, how nineteen
eighty four is that you take a little sticker and
you wait right Go to the DMV and tell me
how well run it is. Go to any other you know,
go to the tax collector's office, go to any governmental
organization and tell me how well it's run, and then
(28:44):
tell me that this major complication of how mortgages can
become portable that the government has to have his hands
in is going to actually work. It won't, it will,
it won't. Okay, So the discussion of those things for
real estate don't matter until they actually happen and we
have results from it for months down the line of impact.
(29:04):
You know, if we see mass population increase over a
one year period from New York because of policies that
actually pass, it could trickle to impacting our values. It
could trickle to impacting our population. Right. Like, it's just
not instantaneous, so there's no psychological overreaction in real estate
like there is these other markets where news comes out
(29:27):
and the whole world thinks the world's either crashing or rising,
or they're a bull or they're a bear. It just real.
Stage is real. It's like a turtle, man, It's just
it's a snail. Just move it's slow and steady. It
just keeps kind of moving it and it's either moving
up or it's moving down, but it's moving really slow
and steady. So none of these things massively move the
needle for real estate. So if you think if you
(29:49):
pay attention too much to the stock market, and then
you try and naturally get to the point where you
can think that you know that. You see what happens
when the president says something, when he put something on
true social and it hits it hits X or social media,
and you see the reaction in the public markets. You
can't drop that on top of real estate and expect
(30:09):
it to operate the same way. It just doesn't. It
doesn't work, it doesn't connect it, it just doesn't. So
so my point being is that when you see these
things happen there, there is no instantaneous impact to values.
The only things, okay, then instantaneously move the real estate
(30:31):
market are rate cuts, okay, and they don't even instantaneously.
The market actually lags ahead of it. So if there's
going to be a feder rate cut in December, which
it looks like there's not going to be now, but
if that sentiment changes and it gets closer to that
date and it looks possible, mortgage companies will start pricing
that in already, okay, So that will move the needle down,
(30:52):
and of course that moves the needle and does pick
up the market and bring up buyers and help values,
but it's it's negligible. It's a quarter point. We're not
talking like interest rates got cut two percent. A quarter point. Again,
it moves it, but it's really really small. Okay. So
this idea that there's these huge swings. So if you
pay attention a lot to crypto or high volatile stocks,
(31:13):
and you think that's the way real estate works, it
just doesn't, like, doesn't work like that at all, not
even close. It's one of the benefits of the asset class.
It's also one of the things that helps protect my
stress because I couldn't imagine if home values are rising
or falling five percent in a day. But it just
doesn't work like that. So you real estate it's own
unique animal. You have to stop thinking of it like
other markets and stop comparing crypto or stocks and thinking
(31:36):
that public policy or elections or things are going to
massively move the needle. For real estate storms. That is
one thing that can massively move the needle, a hurricane,
because it actually happens everything else with speculation. Speculation doesn't
move real estate. Only thing it moves real estate is
actual things that happen and then the results that follow.
So hopefully that's helpful for you to understand. If you're
(31:56):
thinking about selling your home and you fail to sell
it in twenty twenty five and you want to get
it sold in twenty twenty six, hit up Duncan Duo
dot com again, that's Duncan Duo dot Com. We'll be
back with our last segment after a quick break here
on the Duncan Duo Show. So back here on the
Duncan Duo Real Estate Show talking about the Tampa Bay
real estate market, and I want to hit you with
some twenty twenty six predictions for our real estate market
(32:17):
right here in Tampa Bay. Talked about this in earlier segments.
I've talked about it on the show before, but I
think it's important for you to understand what I believe
we're moving into in twenty twenty six. I think Tampa
Bay is set for a boom year, meaning that we're
going to see considerable increase in a number of sales,
and I think we'll get back to seeing a stabilization
and some appreciation in twenty twenty six. Now some right now,
(32:40):
when I say a boom, I'm comparing it to the
last years. We're not going to see a covid ES
year in my opinion. Depending on what happens in May
with a new Fed governor and the direction of interest
rates go, that could obviously change the game. A lot
of that is speculative and hard to say, but just
looking at what we know right now, the housing market
to set for a twenty twenty six comeback. Nar economists
(33:02):
came out with some information and I want to tell
you what they believe the forecast is going to be
for twenty six and how that compares to Tampa. They
believe existing home sales nationally are going to increase fourteen percent,
new home sales are going to increase five percent, meeting
the home price is going to increase four mortgage rates
slightly below six, job gains of one point three million,
(33:24):
and an unemployment rate of four point four. Now the
unemployment rate for some people gets them a little scary
because it's rising. But the reality is is AI and
tech are going to replace some jobs, but it's also
going to create some higher paying jobs, improve efficiencies, and fortunately,
I think have an overall positive effect on the economy.
Even if there is some job loss because of the
(33:45):
poverty they could help solve. The efficiencies that could help solve.
But let's talk about the existing home sales. I think
Tampa will actually see a higher than a fourteen percent
existing home sales increase in twenty six. I think it's
going to be more like twenty percent. And the reason
being is because we're comparing its twenty five, okay and
twenty five. You know, we lost some home sales to
(34:07):
the hurricanes twenty four. The hurricanes hit late and then
the early part of twenty five. There were a lot
of sales that didn't happen. There were homes that were damaged.
We had this hurricane hangover. Okay, So I think we'll
see a better than twenty percent increase, but it isn't
really kind of relative because of the fact that the
numbers are skewed a little bit because our market got
(34:27):
hit with these two massive storms. New home sales increase
of five percent, I think Tampa Bay is going to
see a higher number than that one. I think we
are seeing population growth coming back a little bit post storm.
Some stuff happening up north I think will move the
needle on population, not massively, like I talked about it's
not going to move it massively, but I do think
(34:48):
it will move the needle median home price increase of
four percent. I think we'll see slightly higher than that,
more like a five or six percent increase in Tampa Bay. Again,
recovery from the storms. You know, we've just tended to
outperform the rest of the country in Florida, and so
when the market's doing really bad, Florida's doing really bad.
(35:09):
When the market is doing really good, Florida does a
little bit better. Mortgage rates obviously, that's something that's you know,
that's a moving target. They predicted in the six I
think there's a reasonable chance we see lower than that
into the fives. Again, a lot of it will depend
on who they make the FED chair, whether there's a
cut in December and January. But President Trump it seems
(35:31):
pretty ambitious that he's going to put a FED chair
in that is going to massively cut rates, and whether
or not that's good long term, it could be argued
economically whether or not that's a good choice, But I
do believe it will have a short term positive impact
on real estate. I think we'll see lower than six
next year. Job gains one point three million, not two million.
So the nar thinks that we're going to see some
(35:54):
job gains. I don't know that we'll see as many
job gains truthfully as they're predicting. We did. We have
seen unemployment rise to the highest number. We did see
job job numbers improve in September, but I don't know
that we're going to quite get to that number, simply
because I think companies are getting more efficient and ai uh.
It's going to improve companies profitability. It's going to open
(36:17):
up new executive higher paying jobs, but it is going
to eliminate some low paying jobs. There's no question in
service and sales related industries customer service and sales related
industries that it's already starting to have that impact that
you know, kind of that transformational change. So I think overall,
very positive real estate market for Tampa Bay. The thing
that the things, the things that I would pay attention
(36:40):
to that could possibly move the market much higher are
twofold one. I think it's going to be a really
good year regardless, but depending on what happens with the
Federal Reserve in May that that will have an impact. Secondarily,
the weather, hurricane season, if we have a I think
the twenty percent number gets gets at in terms of
(37:00):
increasing existing home sales next year, if we have a
clean hurricane season, If we have really bad hurricane season
that destroys a lot of real estate and scares a
lot of consumers from moving here, from buying or selling,
then that obviously could work in the opposite direction. So
those are the two wild cards that could change those
numbers for the better for the worse. Next year, what
(37:21):
happens with the FED and interest rates, and then of
course what happens with hurricane season. So hopefully that's been
helpful for you if you want to stay updated in
all things real estate, as well as enter into our
contests and giveaways. We give away Lightning tickets, Lightning signed
merch as the official agents of the Bolts. Make sure
to follow us on all of our socials. We are
at the Duncan Duo. Again, that is at at the
(37:44):
Duncan Duo for all of your real estate needs. And
last but not least, if you're thinking about the holidays
and a refinance, there is a product called a streamline
that allows you to refinance your VA or FHA Morgan
lower the interest rate, not come out of pocket with cash,
skip a payment during the holidays okay. And it doesn't
(38:07):
have the same stringent requirements for qualification, employment, and equity
that other traditional refinances do. If you have an FHA
or VA and you're above seven, you should really look
at getting a streamline refinance. Even in the high sixes
at this point you should probably look at it. If
you're in a financial tough spot, just go to citywide
Tampa dot Com. Again, that's citywide Tampa dot Com local
(38:28):
loan officers. You get hand you know, personal white glove
service local loan officers to help you understand what your
financial situation is and what you can qualify for in
terms of that refinance. Again that is citywide Tampa dot Com.
And have an awesome rest of your weekend. Tampa Bay
Happy Sunday, Tampa Bay. We're with you for another week
here on the Duncan Duo Real Estate Show talking about
the Tampa Bay real estate market. Andrew Duncan with the
Duncan Duo team at LPT Realty at the Duncan Duo.
Anytime we aren't on air, falls on all of our
socials and get the update on everything going on in
the Tampa Bay real estate market. Again at the Dunkin Duo.
(00:23):
I want to talk first and foremost today to the
home sellers out there that have had their home fail
to sell. Now, this is something that happens every year
around this time. Having been in the real estate business
for more than twenty years, I see this time of
(00:43):
year you just get a surge of people who are
frustrated whose home didn't sell. And after selling number three
billion dollars in real estate, We've got a track record
of helping people sell their home that failed to sell
with someone else. So this is you. I've got some
tips for you today and I want to help you
understand how to get your home sold in twenty twenty
(01:04):
six or by the end of this year if it
has failed to sell in twenty twenty five, the number
one thing that I see over and over again when
a market shifts, and this year was a shifting market
for us. We got hit with hurricanes at the end
of last year. We've had high interest rates for a
while that have started to have a little bit of relief,
(01:26):
and you know, our real estate market just not as
healthy in twenty five as it had been in prior years.
And so with that being said, when that occurs, the
real estate agents that have gotten in the business, a
lot of them that haven't been around long enough don't
know how to adapt. So what I find is a
lot of you know, overpriced homes, a lot of mismarketed homes,
(01:51):
a lot of things being left on the table to
get home sellers to the finish line. And so when
the market is really hot, it's super easy for homes
to sell. Real estate agents look like superstars are selling
in a matter of days. Home sellers can set their
price and everything is sunshine, rainbows and unicorn fairytale fantasy
(02:14):
land is like is how I like to call it.
When the market changes, everything changes along with it, so
every little detail matters. I see things on a very
regular basis, like the school district not being right, or
the pome being over priced, or the photos or the videos.
So it becomes super crucial to have the right marketing
(02:36):
strategy and also the right price. There are a lot
of agents who during the upswing got used to just
telling sellers the price they wanted to hear, because even
if the home didn't sell, it would appreciate and get
to the number that the home seller wanted. And so
what I see now is when is a lot of
agents still offering that same philosophy. When a seller wants
(02:58):
to sell the the agent tells them the number that
the seller wants to hear, the house goes on the market,
and then all the while they're chasing the market down,
lowering the price, trying to change things, all because the
agent wasn't firm enough at the very beginning to tell
them an accurate, real price and be honest with them
instead of just, you know, kind of what I call
(03:19):
being an order taker. So the order taker realtor that
has survived the last few years has failed. In twenty
twenty five, Fewer and fewer of them are selling homes,
and a vast majority of real estate agents didn't do
a single transaction in twenty twenty five. So if that's you,
if you're with an agent that hasn't gotten your home sold,
it very well could be that you've got an agent
(03:41):
that is one of those order taker agents that hasn't
been coached or taught how to sell in the challenging market.
So the things that I have for you today first
and foremost. If you're listing has expired or it's going
to expire by the end of the year and you're
not happy, you know, a change, a change of strategy,
you know, a change of approach, different photos, a different
(04:04):
marketing strategy, and very likely a different price. If your
house didn't even get offers or showings, that realistically is
probably not your agent. That means you're just way overpriced.
If your home has a decent amount of traffic and
is getting showings and has gotten offers, it may not
be the price. It could be the marketing or the
agent's negotiating. But if you're not getting offers at all, look,
(04:27):
even the most horribly marketed, bad photographed house, if it's
priced right, is going to sell and get offers. So
the likelihood is is your house is overpriced. So the
first thing you need to do is consider adjusting the
price now. The second part of that solution is adjusting
the price in an environment that can get eyes on
(04:47):
your home. Look. The longer your home is on the market,
the fewer home buyers are interested in it, the fewer
that want to look at it because they think something's
wrong with it. Even if you've been on the market
several months and you lower it to the right price
ice or even an aggressive price, it may not be
enough to get the activity back and to get the
interest back. You can look at stocks and stock market
(05:08):
and have an understanding of how this works, because even
like a stock that's horribly performing will come out and
have like some great earnings or something good happen, and
the stock still doesn't recover because it's not enough. Okay,
so so price obviously important. A different voice, a different
agent is sometimes often needed. The third thing is get
(05:31):
an agent that's gonna do the right things to get
your house off the market and do what is necessary
while it's off the market in order to get it sold.
There are two reasons why your house needs to come
off the market. One, you need the market to reset.
If it comes off the market for sixty days, the
days on market resets, meaning it comes back on as
(05:52):
a new listing. You're in front of a new crop
of buyers and it doesn't have that stigma that lots
of days on market stigma. There's not a lot you
can do to overcome that. It's it's like you know,
going to Walmart and buying you know, stale potato chips
that are expired. You look at those on the endcap
and it doesn't matter what it's priced, doesn't matter if
Walmart sticks it right in front of your face, you're
(06:12):
not buying it. It's the same thing for real estate.
You can stick it right in front of people's face
and lower the price and have this incredible price, but
it won't matter if it's been on the market too long.
So you need to reset the days on market. The
second thing is is you need to reassess your strategy.
Are the things within the home from a decoration standpoint,
from an upgrade standpoint, is it was it not clean?
(06:34):
Was it a bad day for photos? Was it not
blue skies and sunny outside? All these things are things
that a new agent can come in and help refresh
all of that. You also can create some pent up
demand in that sixty days an agent with a solid
database that's been around a long time, like my company.
We've got a database of over two hundred and fifty
thousand people. We can see the agents to sell in
(06:55):
your neighborhood. We can target market the home to them
before it's on for it's even on the market, so
that the day it comes back on the market, after
that sixty days is up, it gets action quickly. So
you have to separate yourself from your desire to get
your home sold, and you're in terms of expediently and
your desire to get your home sold the right way.
(07:17):
A lot of people want to come off and go
right back on because man, I just want to get
it sold. Okay, it's about doing it right, not just
about checking a box. If your goal is to just
check a box and just get it back on the
market because you think that it'll actually help us sell,
you're gonna lose, and you're gonna lose more than a
couple of mortgage payments you might be trying to save
because you're going to continue to eat up those days
(07:38):
on market, have that stigma attached to it. A lot
of times your house needs to come off the market.
You need to figure out how to economically or financially
make it happen so that you can do that to
give yourself the best chance at selling and likely a
higher price than a couple of mortgage payments you're trying
to not spend by keeping on the market with a
bad strategy. Nothing is worse than keep being a home
(08:00):
on the market with bad strategy when it's already got
high days on market, it's already been out there a
long time, it's already been overpriced, every buyer in the
market is already clicked. Next, last, but not least thing
that you need to do to help solidify and prepare
yourself for getting your home sold that has failed to
sell in twenty twenty five. And look, I've already covered
(08:21):
the important ones. Your price, Okay, your price is important,
you're the agent that you have it coming off the market.
And then, last but not least, addressing condition issues. Okay,
the home is going to get inspected when you buy
it anyway, if you've got things that are visibly wrong
with your house, like visibly wrong. I'm not talking the
(08:44):
little minor things that are going to come up in inspection.
I'm saying things that a customer can look at and
visibly see there's a problem with and I don't mean
like something they don't like. I mean a defect like
a leak that wasn't the cosmetic wasn't repaired, or something
not working, or scratches or rooms not painted or carpets
not cleaned. It isn't necessarily important for you to go
(09:08):
spend a bunch of money. I'm not saying you need
to go and massively renovate your house. But here's what
you don't understand. Living in your house or even staging it,
decluttering it, letting people see the house versus your stuff.
All of these things are things that you need to
do to improve the presentation of your home. Go to
a new construction builder, okay, go to any new if
(09:31):
you want to know what to do to get your
home ready for sale. Follow the money, okay, follow the
multi billion dollar organizations that sell thousands of homes a year.
Go into one of their sales centers. Okay, walk one
of their model homes. That's the vibe in the field
that you need to have in your home. Now. You
may not be able to completely recreate that, but you
(09:52):
want to get as close as possible to that if
you're selling your home and you want the most amount
of money and you want to sell when it's failed
to sell, you're going to have to do a little work. Okay,
You're going to have to have a vested interest in
the success. Go to a builder, model home, walk through it,
take some tips, and then go back to your house
and do what you can to replicate that. Now, that
doesn't mean by all new furniture. It doesn't mean, you know,
(10:15):
make all kinds of upgrades. Okay, I'm not saying changing anything.
I'm saying decluttering, cleaning, clean your carpets, steam clean everything.
Get your house immaculate. Get down all your junk, all
your personal photos, all your clutter, all your boxes a crap,
get it all out of there, move it out, okay,
get it to storage. You want your home to feel
(10:36):
as close as it possibly can to a model home.
The closer you get to your home feeling like a
model home when someone walks through it, the greater the
chance that you have of selling and the evidence is there.
It's why the largest home sellers, the people that sell
the most amount of real estate in the world, do
model centers in stage homes. Okay, it's why they don't
(10:57):
show homes with people in them. It's why they don't
show homes with tenants in them. Okay, it's why they
don't want, you know, people there. The last thing that
I'll tell you that fails a lot of home sellers
is you being there. Not just there, but like the
aura of you being there. Okay. Like if the home
feels like yours to the buyer, they can't fall in
(11:19):
love with it. Okay, they can't. They can't emotionally attach
to it. It's too branded to you. It needs to
be neutral. And similarly, if you're there during showings, of
course they're not going to be able to fall in love.
Imagine like how hard it was to fall in love
on a first date the first time you met your
spouse if the parents were behind you the whole time. Okay,
(11:40):
that's what it feels like. When your president of showing
the buyer can't emotionally attach, you're basically telling them they're trespassing.
You're bothering them. They're not looking for the facts. They
don't care about the age of the ac They don't
care about your kids and where they grew up and
how they had fun in the backyard. They don't care
about you. They want to fall in love with your house.
If you want to sell your house, get out of
(12:03):
the way. Okay, So those are my tips today, and
I'll break them down again one last time. You want
to declutter, make changes to eliminate the aura of problems
wrong with the house. You want to get it looking
as much like a model home as you can. Sometimes
it's got to come off the market for a little bit,
adjust your price, hire a new agent, come up with
(12:25):
a new strategy. Hopefully that helps you. And look, we'd
love to interview for the job of being your new agent.
If you need a new strategy, if you need a
new marketing approach, hit us up Duncan Duo dot com.
We would love to apply for the job of getting
your home sold. Again. That's Dunkin Duo dot Com. And
I'm going to be back 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
(12:47):
estate market. Andrew Duncan with the Dunkin Duo team. I
talked in the first segment. I really focused the first
segment on home sellers whose homes haven't sold in twenty five,
I gave you some tips. We're applying for the job too.
Strategy on how to lower your price, improve your marketing,
come off the market for a little bit, and get
your house to look like a model home. Declutter makes
(13:09):
small improvements, not massive upgrades, but just declutter. Clean, clean carpets,
touch up paint. Get your house to move in the
direction of looking like a model home as best you can,
and that gives you the best chance at getting your
home sold. And of course, if you want an expert
to take care of all of that for you, just
hit us up again at Duncan Duo dot com. Got
(13:31):
a couple of featured properties this week. Our first one
one one six four calf Path Drive. Absolutely love this
house in the West Chase Area exclusive community of high
Our Highland Park, one point zero three acre conservation lot,
fifty three hundred square foot home, five bedroom, five and
a half bath design for everyday living and perfect entertaining.
(13:53):
Primary suite welcome. Just again a long list as well
as a whole home generator, tankless water heater, impressive energy
performance and one of my favorite things is the three
car garage. So one one six two four calf Path Drive.
You can hit up the Dunkanduo dot com to learn
more about that featured property uh and to see all
(14:14):
of our listings again at the Duncan Duo dot com.
I want to talk to buyers really quickly because this
is also a time of year when people are thinking
about their plans for twenty six and look, interest rates
have softened. Our real estate market took it hit in
twenty five, and the people are very bullish about it
being better in twenty six. As am I. I think
(14:35):
we'll see some more interest rates softening. I think we'll
see some some Washington DC is going to make some
moves in terms of, you know, pro housing initiatives, and
I just think it's going to be a great real
estate market for Tampa Bay in twenty six. So if
you're thinking about buying a home, I want to give
you the tips. I did a video about this this week,
(14:58):
and I want to talk to all my listeners and
give you tips. Now. Whether you're an experienced home buyer,
whether you're a first time home buyer, these things all
apply to you. Because the game has changed a lot.
It's not the same as it used to be. Okay,
the first thing that you want to do is understand
what's in your credit report. You want to know what
your score is, and you want to look for errors.
You want to know you know, is everything reporting properly,
(15:19):
is your debt to income? All that stuff is accurate.
You're scoring your amount o your credit profile, any any collections,
mistakes or errors, work on getting those resolved. I've seen
far too many customers not pay attention to it and
think their credit's great, and then go out to buy
a house and then find out there's a negative item.
They've got a dispute, and it harms their ability to
(15:40):
get qualified or buy their dream home. Second thing that
I would encourage you to do is start planning for
your down payment. If you have enough for the down payment, great,
If you don't, you've got to start saving for it
to figuring out where to source it. Okay, if you
qualify for a lower no down payment, terrific. But if
you are going to put down money, you've got to
(16:03):
know where that's coming from. Either, you've got to start saving,
You've got to figure out where you're gonna take it from.
From an investment, you can you can penetrate four O
one K and I right through a loan process or
things that you can do like that to buy a home.
The next thing, start the process of talking to a
mortgage lender and a CPA about your taxes, especially if
(16:25):
you're self employed. Self employed people are notorious for writing
a lot of things off. If you write a lot
of things off, your income may not look as well
as it needs to look to be able to qualify.
It could cause some problems. So it's important before the
year closes to get with the CPA and your lender
for next year and say, hey, I want to buy
next year, what do we need to do. Here's my
(16:46):
taxes from last year. What do we need to do
before the end of the year to get my taxes
to look in a place where I'll be able to qualify, okay,
especially if you're self employed. Self employed people far too
often say, oh, I make two hundred grand a year,
and then when we get ahold of their taxes, it's
forty grand a year. Okay, So do take those steps now.
The next thing that I would tell you start figuring
(17:06):
out the neighborhoods that you like and honing in. Nothing
is worse than not really knowing what you want and
buyer's journ notories for coming to us and saying, yeah,
I want a three to two and you know sun
City Center, and then they buy a three two in
Riverview or a three two in Northdale. Okay, so hone
in on the neighborhood. It'll make your agent's job easier.
It'll also make it easier for you to focus on
(17:29):
homes that you like. Make sure that you've commuted back
and forth to that location during rush hour times. Okay,
so you know ahead of time that that's really the
area that you like to be in. Do the research
on the schools, do the research on crime. Your agent
really can't help you with a lot of that information. Unfortunately,
there's regulations and laws that prevent us from doing that.
But do your homework now. The last thing that I
(17:51):
would say is you prepared to forge into home ownership
in twenty twenty six, is don't go into crazy dead
over the holidays, don't open up new lines of credit,
and don't spend too overly, too much that you can't
pay off. Far too often we find people they'll have
a man, they did lots of Christmas shopping, or they
got new furniture on a zero percent interest rate, or
(18:11):
they bought a new car and then it completely destroys
their ability. The sales are gonna be great. Look, we're
in black Friday season. The sales are gonna be awesome. Okay,
there's gonna be car sales and furniture sales are gonna
be everything under the sun. But what's more important to
you the new computer, the car or the house of
your dreams? Okay, it's the most expensive thing you're gonna buy.
(18:32):
Show discipline during the holiday season with your expenses and
your spending, and it'll give you a better shot at
buying a home in twenty twenty six. So don't resist
the urge to buy the sale, or the no interest
or the barrigains that people tell you or out there
during the holidays. They are out there. But if you're
buying a home, the last thing you want to do
(18:53):
is get into too much, too much debt prior to
the end of twenty five and then it and then
it harms your ability to buy a home in twenty
twenty six. Hopefully that's helpful, and we also would love
to interview for the job helping you buy your house.
You can hit us up at the Dunkin Duo dot com.
You can do a home search, home valuation, contact us,
look at our featured listenings, and so much more at
(19:15):
the Duncan Duo dot com. And I'm going to be
back 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. Andrew Duncan, the
Duncan Duo team at LPT Realty, and I made a
funny post on Facebook this week and I said that
our company is hiring crypto bros that lost it all
in the recent crypto downturn to jump into real estate
(19:39):
sales and make it all back. And it prompted me
to think about a segment today where I talk about
the differences between real estate investing and other investing and
why I'm obviously a proponent for real estate. I'm obviously biased.
I've done incredibly well with it. I've built multiple real
estate businesses, own a lot of property, have owned a
lot of property, and I certainly do invest in other things.
(20:02):
I certainly invest in crypto and in the stock market,
in private equity. But I want to make a case
today for why you should look at real estate and
the pros of real estate compared to the cons and
then of course compared to other asset classes. And I'm
going to start with crypto well first and foremost. One
of the big proponents of real estate over crypto is
that it doesn't have these huge fluctuation swings like four
(20:23):
and five percent in a single day. Real estate is
the slowest moving market in the world. It's very consistent.
It takes a lot to move it into a different direction.
So when it's going up, it keeps going that direction
for a while. When it's going down, it keeps going
that direction for a while. But it doesn't move dramatically. Okay,
So you're not seeing these huge swings and surges. It's
(20:46):
not as emotional, it's not as depressing. Your real estate
one day isn't going to drop five percent like your
crypto account could, okay, or ten percent. Even real estate
is again slow moving. We're talking you know, a few
percentage points a month at most is a massive move
for real estate. It's usually you know, the appreciation over
a whole year. The tax benefits of real estate are
(21:08):
something that gets lost a lot of times. You're able
to depreciate property. You're able to take deductions that you
don't get to take. You also have the ability to
personally improve the property you can't personally. I mean, unless
you're bitcoin mining at a high level, you're not improving
your bitcoin holdings. Okay, you're not improving your stock in Google.
You're not going to go out to Palo Alto and
(21:29):
you know, work on improving Google's valuation of your stock.
You can, however, repaint the rental property you own. You
can patch the roof, you can improve the yard, you
can add mult, you can sob the front yard. There
are things you can do to real estate to improve
the value of it that you can't do with other
asset classes. The other thing I would say about real
(21:49):
estate that I think makes it more compelling than some
of the other, you know, asset classes is the ability
to leverage it. You can loan against it. You can
and get loans for it and really low down payment
loans that you can't get those same loan to value
on other assets. So it is more highly leverageable. And
while I may not necessarily recommend that for most consumers,
(22:11):
if you're a real estate savvy, real estate investor and
you know, cash on cash is the most important thing.
You can buy real estate with lower amounts down versus
the capital you might have to outlay to buy another asset.
So you can also pivot and use real estate for
you know, for other things. You can buy a home
and then you can turn it into a rental. You
(22:32):
can you know, you get use out of your real estate.
You either live in it, right it's your primary residence,
and of course you want it to grow in value,
but you're also using it as a place to sleep
every night, and and you know, personally improve and get
a joy of life out of crypto and stock investments,
you're just kind of sitting in a cloud. And while
historically sometimes crypto and sometimes certain stock classes can outperform
(22:57):
real estate over periods of time, they lack from a
pure appreciation percentage standpoint. When you break down the financials,
the depreciation and tax benefits of real estate starts to
even it up without as much risk. Now few downsides
to real estate. Obviously, from an insurance perspective, there are
(23:17):
chances of storms destroying your property, especially if you don't
have proper flood insurance or proper home insurance. You're bitcoin
sitting in the cloud, not likely to just to get
destroyed by a storm. Okay, your other obstacles with owning
rental property is that it takes work, It takes effort.
You know, if you're either flipping real estate, you're gonna
(23:39):
have to manage people, you have to make decisions, you
have to go buy the property. If you're renting real estate,
you're going to deal with tenants or you're going to
hire someone to deal with tenants. And then it's going
to be an extra cost associated when you own public
or private interests in companies or crypto, those are things
you don't have to deal with. You're not you're not
getting calls about the toilet or this or that. So
(24:02):
I'm a big proponent of real estate. I think there's
a lot of pros with real estate. I think it
should certainly be one of the foremost asset classes that
people pay attention to. It is created the most millionaires.
Certainly room for crypto and other things in the portfolio,
but those are some reasons why I think people naturally
should gravitate more towards real estate if those other asset
(24:22):
classes don't work for them. I was talking to somebody
this week that had put a lot of money into
crypto and had done well for a while, and then
didn't do well for a while, and then now this
this constant fluctuation. It's up five percent, it's down five percent.
It caused them so much anxiety. You know, they're just
not made for it. There are some people that just
aren't made to deal with the ups and downs of
(24:45):
crypto or high volatile stocks, and they would rather have
something consistent where even if it's maybe not as great
of a potential return, you don't have the downside and
you don't have all the anxiety because again, real estate
is slow moving. So speaking of real estate being slow moving,
I want to reiterate something I talked about last week
(25:05):
that we run into client problems with clients sometimes because
real estate is the slowest moving market in the world. Again,
it is the slowest moving market in the world. Okay,
because of that. Because of that, you know all of
the things that it takes to move the needle for
either home sales to increase or price to appreciate sudden
(25:29):
changes in the world government, in the national government and
state governments. You know, discussions about new policy changes or
you know, abolishment of property taxes, or more people are
going to move here from New York because Mandoni got elected,
or the President Trump tweets out that we're gonna give
a stimulus, or we're gonna do we're gonna do fitty
(25:51):
year mortgages, or we're gonna do portable mortgages, or or
interist rates are going to drop. Right Like in the
stock market, those things can be very manipulative. You know,
you can have some sort of release or some sort
of announcement about something, and then a certain stock or
asset class can move very, very massively. Okay, real estate
doesn't work like that. Okay, the values of real estate
(26:15):
are not immediately being positively or negatively massively impacted because
of any policy, because first off, the policy's got to
get announced, it's got to get implemented, and it's going
to have time to work. Okay. So you know, we
had people this week call us and say, oh, we
want to raise the price of our house because Mamdanie
got elected in New York. That is the dumbest thing
I've ever heard in my life. It is just not reality.
(26:36):
Your home isn't worth more money because the mayor of
New York City is a socialist. It just doesn't exist. Now,
could a few years down the line because of how
slow moving real estate is and how complicated it is
for the market to move, and could a few years
down the line to have a positive impact. Yes, and
I think it very very well. May. But that doesn't
(26:58):
mean your home is gonna now suddenly a praise. The
appraiser isn't coming out looking at your house saying, oh,
let me see here, here's the numbers. Okay, well, here's
the bump for muddani like it just doesn't happen, or
the bump because the President said fifty year mortgages are coming.
The mark is real estate doesn't move psychologically and emotionally
like the stock market is very slow moving. So these
(27:19):
things that happen politically until the results actually happen, until
the things pass and until there's enough time for it
to have impact, it doesn't move our real estate market.
We have no idea that this guy's gonna get elected
and get anything passed at all. Okay, he may pass nothing.
It could be just a bunch of political promises that
never get net like most politicians. Okay, Similarly, fifty year
(27:41):
mortgage gets flood. We have no idea if that'll ever
happen portable mortgage, which I think there is. I think
that's laughable that people buy that that could possibly happen.
They're like, I love the idea of it. But also,
as a guy that owns a real estate company, a
title company, and you know, has a mortgage branch, I
don't see any possible way to appease all of the
(28:03):
people whose hands are in the cookie jar of the
mortgage world to be able to let people just popular
mortgage onto something else. I just don't see that happening.
That is way too complicated. And I'll give you an
example as to why some of this government intervention into
real estate won't work. Okay, go to the DMV. Go
to the DMV and see about what your experience is
(28:24):
like going to the DMV and how many times you
have to go in there with different paperwork, and how
long you have to wait and you take like a sticker,
You take like a little sticker. I mean, how nineteen
eighty four is that you take a little sticker and
you wait right Go to the DMV and tell me
how well run it is. Go to any other you know,
go to the tax collector's office, go to any governmental
organization and tell me how well it's run, and then
(28:44):
tell me that this major complication of how mortgages can
become portable that the government has to have his hands
in is going to actually work. It won't, it will,
it won't. Okay, So the discussion of those things for
real estate don't matter until they actually happen and we
have results from it for months down the line of impact.
(29:04):
You know, if we see mass population increase over a
one year period from New York because of policies that
actually pass, it could trickle to impacting our values. It
could trickle to impacting our population. Right. Like, it's just
not instantaneous, so there's no psychological overreaction in real estate
like there is these other markets where news comes out
(29:27):
and the whole world thinks the world's either crashing or rising,
or they're a bull or they're a bear. It just real.
Stage is real. It's like a turtle, man, It's just
it's a snail. Just move it's slow and steady. It
just keeps kind of moving it and it's either moving
up or it's moving down, but it's moving really slow
and steady. So none of these things massively move the
needle for real estate. So if you think if you
(29:49):
pay attention too much to the stock market, and then
you try and naturally get to the point where you
can think that you know that. You see what happens
when the president says something, when he put something on
true social and it hits it hits X or social media,
and you see the reaction in the public markets. You
can't drop that on top of real estate and expect
(30:09):
it to operate the same way. It just doesn't. It
doesn't work, it doesn't connect it, it just doesn't. So
so my point being is that when you see these
things happen there, there is no instantaneous impact to values.
The only things, okay, then instantaneously move the real estate
(30:31):
market are rate cuts, okay, and they don't even instantaneously.
The market actually lags ahead of it. So if there's
going to be a feder rate cut in December, which
it looks like there's not going to be now, but
if that sentiment changes and it gets closer to that
date and it looks possible, mortgage companies will start pricing
that in already, okay, So that will move the needle down,
(30:52):
and of course that moves the needle and does pick
up the market and bring up buyers and help values,
but it's it's negligible. It's a quarter point. We're not
talking like interest rates got cut two percent. A quarter point. Again,
it moves it, but it's really really small. Okay. So
this idea that there's these huge swings. So if you
pay attention a lot to crypto or high volatile stocks,
(31:13):
and you think that's the way real estate works, it
just doesn't, like, doesn't work like that at all, not
even close. It's one of the benefits of the asset class.
It's also one of the things that helps protect my
stress because I couldn't imagine if home values are rising
or falling five percent in a day. But it just
doesn't work like that. So you real estate it's own
unique animal. You have to stop thinking of it like
other markets and stop comparing crypto or stocks and thinking
(31:36):
that public policy or elections or things are going to
massively move the needle. For real estate storms. That is
one thing that can massively move the needle, a hurricane,
because it actually happens everything else with speculation. Speculation doesn't
move real estate. Only thing it moves real estate is
actual things that happen and then the results that follow.
So hopefully that's helpful for you to understand. If you're
(31:56):
thinking about selling your home and you fail to sell
it in twenty twenty five and you want to get
it sold in twenty twenty six, hit up Duncan Duo
dot com again, that's Duncan Duo dot Com. We'll be
back with our last segment after a quick break here
on the Duncan Duo Show. So back here on the
Duncan Duo Real Estate Show talking about the Tampa Bay
real estate market, and I want to hit you with
some twenty twenty six predictions for our real estate market
(32:17):
right here in Tampa Bay. Talked about this in earlier segments.
I've talked about it on the show before, but I
think it's important for you to understand what I believe
we're moving into in twenty twenty six. I think Tampa
Bay is set for a boom year, meaning that we're
going to see considerable increase in a number of sales,
and I think we'll get back to seeing a stabilization
and some appreciation in twenty twenty six. Now some right now,
(32:40):
when I say a boom, I'm comparing it to the
last years. We're not going to see a covid ES
year in my opinion. Depending on what happens in May
with a new Fed governor and the direction of interest
rates go, that could obviously change the game. A lot
of that is speculative and hard to say, but just
looking at what we know right now, the housing market
to set for a twenty twenty six comeback. Nar economists
(33:02):
came out with some information and I want to tell
you what they believe the forecast is going to be
for twenty six and how that compares to Tampa. They
believe existing home sales nationally are going to increase fourteen percent,
new home sales are going to increase five percent, meeting
the home price is going to increase four mortgage rates
slightly below six, job gains of one point three million,
(33:24):
and an unemployment rate of four point four. Now the
unemployment rate for some people gets them a little scary
because it's rising. But the reality is is AI and
tech are going to replace some jobs, but it's also
going to create some higher paying jobs, improve efficiencies, and fortunately,
I think have an overall positive effect on the economy.
Even if there is some job loss because of the
(33:45):
poverty they could help solve. The efficiencies that could help solve.
But let's talk about the existing home sales. I think
Tampa will actually see a higher than a fourteen percent
existing home sales increase in twenty six. I think it's
going to be more like twenty percent. And the reason
being is because we're comparing its twenty five, okay and
twenty five. You know, we lost some home sales to
(34:07):
the hurricanes twenty four. The hurricanes hit late and then
the early part of twenty five. There were a lot
of sales that didn't happen. There were homes that were damaged.
We had this hurricane hangover. Okay, So I think we'll
see a better than twenty percent increase, but it isn't
really kind of relative because of the fact that the
numbers are skewed a little bit because our market got
(34:27):
hit with these two massive storms. New home sales increase
of five percent, I think Tampa Bay is going to
see a higher number than that one. I think we
are seeing population growth coming back a little bit post storm.
Some stuff happening up north I think will move the
needle on population, not massively, like I talked about it's
not going to move it massively, but I do think
(34:48):
it will move the needle median home price increase of
four percent. I think we'll see slightly higher than that,
more like a five or six percent increase in Tampa Bay. Again,
recovery from the storms. You know, we've just tended to
outperform the rest of the country in Florida, and so
when the market's doing really bad, Florida's doing really bad.
(35:09):
When the market is doing really good, Florida does a
little bit better. Mortgage rates obviously, that's something that's you know,
that's a moving target. They predicted in the six I
think there's a reasonable chance we see lower than that
into the fives. Again, a lot of it will depend
on who they make the FED chair, whether there's a
cut in December and January. But President Trump it seems
(35:31):
pretty ambitious that he's going to put a FED chair
in that is going to massively cut rates, and whether
or not that's good long term, it could be argued
economically whether or not that's a good choice, But I
do believe it will have a short term positive impact
on real estate. I think we'll see lower than six
next year. Job gains one point three million, not two million.
So the nar thinks that we're going to see some
(35:54):
job gains. I don't know that we'll see as many
job gains truthfully as they're predicting. We did. We have
seen unemployment rise to the highest number. We did see
job job numbers improve in September, but I don't know
that we're going to quite get to that number, simply
because I think companies are getting more efficient and ai uh.
It's going to improve companies profitability. It's going to open
(36:17):
up new executive higher paying jobs, but it is going
to eliminate some low paying jobs. There's no question in
service and sales related industries customer service and sales related
industries that it's already starting to have that impact that
you know, kind of that transformational change. So I think overall,
very positive real estate market for Tampa Bay. The thing
that the things, the things that I would pay attention
(36:40):
to that could possibly move the market much higher are
twofold one. I think it's going to be a really
good year regardless, but depending on what happens with the
Federal Reserve in May that that will have an impact. Secondarily,
the weather, hurricane season, if we have a I think
the twenty percent number gets gets at in terms of
(37:00):
increasing existing home sales next year, if we have a
clean hurricane season, If we have really bad hurricane season
that destroys a lot of real estate and scares a
lot of consumers from moving here, from buying or selling,
then that obviously could work in the opposite direction. So
those are the two wild cards that could change those
numbers for the better for the worse. Next year, what
(37:21):
happens with the FED and interest rates, and then of
course what happens with hurricane season. So hopefully that's been
helpful for you if you want to stay updated in
all things real estate, as well as enter into our
contests and giveaways. We give away Lightning tickets, Lightning signed
merch as the official agents of the Bolts. Make sure
to follow us on all of our socials. We are
at the Duncan Duo. Again, that is at at the
(37:44):
Duncan Duo for all of your real estate needs. And
last but not least, if you're thinking about the holidays
and a refinance, there is a product called a streamline
that allows you to refinance your VA or FHA Morgan
lower the interest rate, not come out of pocket with cash,
skip a payment during the holidays okay. And it doesn't
(38:07):
have the same stringent requirements for qualification, employment, and equity
that other traditional refinances do. If you have an FHA
or VA and you're above seven, you should really look
at getting a streamline refinance. Even in the high sixes
at this point you should probably look at it. If
you're in a financial tough spot, just go to citywide
Tampa dot Com. Again, that's citywide Tampa dot Com local
(38:28):
loan officers. You get hand you know, personal white glove
service local loan officers to help you understand what your
financial situation is and what you can qualify for in
terms of that refinance. Again that is citywide Tampa dot Com.
And have an awesome rest of your weekend. Tampa Bay
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