February 1, 2026 • 38 mins
In this episode of the Duncan Duo Real Estate Show, Andrew Duncan chats with Brandon Roberts, founder of New Legacy Homes, a South Tampa custom home builder. They dive into the unique aspects of building luxury homes in the Tampa Bay area, from smart home technology to the importance of location. Brandon shares insights on the current market trends, including the rise of young professionals moving to the area and the impact of property taxes on the real estate market. They also discuss a stunning new listing on West Leona Street, featuring modern luxury and timeless craftsmanship.
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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, like we
are every Sunday at ten here on WFLA News. When
we aren't on air, make sure to fall us on
all of our socials at the Duncan Duo Twitter, Instagram, YouTube,
and TikTok. You might be listening to us today as
a regular listener, but you might just be inside avoiding
(00:21):
the freezing cold today. It's been a unique week in Tampa.
Lots of cool stuff going on. Freezing cold Gasprilla and
freezing cold hockey game today for our Tampa Bay Lightning.
But happy to have you on the show and keep
you updated on everything that's going on in the Tampa
Bay real estate market. I'm Andrew Duncan with the Duncan
Duo team LPT Realty. Excited to have Brandon Roberts with
(00:44):
New Legacy Homes today with us on the show. Brandon
is a client of ours. We've got a beautiful home
on the market on Leona that I'll talk about in
a little bit, but I just wanted to start, you know,
just talking to brand a little bit about New Legacy,
about what they do, and I would imagine you guys
this week probably aren't putting planes in place to heat driveways. Right,
(01:07):
there's there's people out there worried about snow and it's
I have a builder friend up north and they do that.
They they like they go underneath the drive like they
literally heat the driveways and a little dusting. Uh, you know,
I don't think counts for needing the heated driveways.
Speaker 2 (01:24):
So no, but this might be the first time that
anybody who's got any of the heated floors we've put
in in the past.
Speaker 1 (01:29):
Are using us. Yeah, fireplaces too. I have a couple
of fireplaces at my house and this would be the
like maybe the second time that And the other time
I used it was literally like for vanity. It was
actually a date when I was single. I was like
lighting the fireplace, trying to set the mood. Not a
lot of fireplace used in Tampa, so probably not a
lot of heated floor used to. But nonetheless happy to
(01:53):
have you on. You guys have been a builder, uh
you know, custom home builder in Tampa for a long time.
Build an incredible product. I love the uniqueness of your product.
You know, we'll talk about the house on Leona and
a little bit. But what was it, you know, when
you guys decided to kind of build the product that
you build a new legacy builds, a high end luxury
(02:14):
custom product that's that's also got a lot of modern,
kind of urban feel to it. I think that's been
a trend in design. And did you guys when you
guys started building products kind of down that lane? Is
that you saw gap in the industry that you saw
that like a lot of builders are maybe building you know,
more standard Mediterranean type stuff and you get you know,
(02:35):
because I feel like when I see your houses, I
know it's a new Legacy house and I know that
it's that it's it's it's better but different. You know,
it doesn't look like the a lot of the other builders.
Speaker 2 (02:46):
Yeah, I mean we first when we got started eleven
years ago, we were looking in the South Tampa market specifically.
I kind of saw, like you said, a market type
that really wasn't being hit quite as well as it
needed to be. There's been plenty of good luxury builders
custom builders in South Tampa that have great names and
(03:06):
have been there forever and ten years ago, eleven years ago,
it was kind of having a renaissance in South Tampa.
Things were starting to move again. People were coming into
this area. Obviously, COVID helped push that along faster. You know,
with the way Florida was, everybody just became a very
big destination area and that made South Tampa even you know,
(03:28):
more demanding. So there was just a kind of a
soft spot in the market for homes that were a
little less expensive than the big guys, but weren't just
existing homes. It was you know, there was an opportunity
for new homes in that area and not a lot
of people in that segment. And when my business partner
(03:50):
and I broke off to do it, you know, come,
we came from a production world and you learn a
lot of things not to do.
Speaker 1 (03:56):
Correct, especially because production world is all about turning, turning
on my turning them overturn, making it, get them as
quick as you can, turning over inventory, you know, you know,
getting the cost down as cheap as you can get
it to mass produce right, and mass by lots, you know.
And I won't mention the build I know the builder
you're with, and I won't mention them, but but you know,
(04:17):
the the reality is that you know, and I've heard
this before. You know, you learned some things that would apply,
but you also learned a lot of things that you
almost have to do the opposite of, especially when you're
building a custom higher end product for a customer that
you know has has uh, you know, distinct tastes. Yeah.
Speaker 2 (04:35):
Absolutely, And I was kind of when we started. We
we thought there's three things, you know that we mainly
need to make sure. We've seen too much in the
production world and just knowing the market type we were
trying to hit, is it the home needed to be
as low maintenance, if not no maintenance in a lot
of cases as possible, which goes opposites of what the
(04:55):
production would do if it was get it in and
as long as it worked long enough.
Speaker 1 (04:59):
Then you were having acceptable yeah.
Speaker 2 (05:00):
Yeah, and warranted on the back end, we needed to
be sustainable products needed to be a very low end
warranted product and maintenance products. And then also new stuff,
always trying to introduce new product, look at new ways
of doing stuff. Again production world, you get stuck in
doing the same thing over and over and over because.
Speaker 1 (05:19):
So now like new designs, new new features, you know,
and and that that's the thing that I love about
your designs too. Is that there because you are you
do sell homes where you've done custom builds, and then
you have somewhere you build on a lot and you
sell it as a as you know, kind of a
spec and but but having built enough of the custom homes,
(05:40):
you get a good understanding and a solid kind of
baseline of what the consumer expectation is. So so you
get as much of that as you can into a
you know, two or three million dollar you know, or
more than that house that that isn't you know, built
to a customer specific standards. It's already done for them.
And I think, you know, the other thing that was
(06:02):
that I found, you know, especially haven't been in the
real estate business. This is my twenty first year. Especially
earlier in my career, and that ten to eleven year
mark probably sounds about right. But early in my career
it was either you were buying, especially if someone was
in the luxury space, you were going to buy an
older home and renovate it, or you were going to
(06:24):
have a custom home built. There weren't many builders that
were willing to kind of, you know, bite off a
three million dollar you know house that that didn't already
have a buyer attached to it, so it's it is
something that's unique. But I also think that so many
consumers don't have the vision and need that they need
the plug and play move right in because they they
(06:47):
also either don't want to go through the timeline for
the whole full design or they just don't they need
somebody else to pick it for them because they don't
have the vision. So there is a clearly you guys
have seen that how many so how many homes a
gear in that? In that space? You know, what are
what are you guys's goals? How many do you do
a year? What? What is what is your you know
(07:08):
forecast look like continuing to build in that space?
Speaker 2 (07:12):
Yeah, I mean obviously things have regulated in the market
over the last couple of years, right, body's fairly well
aware of that. Yeah, So in a regular market type
you know, over the next few years, you know, our
our goal and our plan is to always try to
keep those custom builds at in eight to ten range
a year, yep. And then as you mentioned, we'll continue
(07:33):
to do some model type homes to obviously show off
what we can do give our designers, you know, or
give a designer an opportunity to display the things she
can do right and obviously helps keeping even flow for us.
Speaker 1 (07:45):
When you don't have a custom home build, you've got
you've got stuff going on to keep your people busy,
which I think, again not on the same scale, but
but I do a lot of remodel flips, and so
there are times where I might look at a remodel
flip and I don't have as much going on, and
maybe the margins aren't great, and maybe I don't love
the numbers, but we buy it because we want to
keep our keep our people busy and kind of keep
(08:06):
keep churning and keep moving. So some similarities just in
much lower price point. You know that you know, those
homes are in a different price range. What are some
of the unique things that you've seen change with you know,
kind of home design for luxury homes. One thing that
I've noticed that I think really stands out obviously the
urban and modern design. But but smart home technology. Smart
(08:29):
home technology seems like it is just you know, massively,
you know, it is just exploding in terms of the
features and things that you can program that you can
you know that you can integrate into a house.
Speaker 2 (08:42):
M yeah, and we we provide in our base back
or you know, in our in our base home when
we when we either provide custom or if we're building
a model, we do a nice which the ould a
lawn system brain in the background. You know, so you
have people really really focus absolutely on the safety security,
(09:03):
you know, being able to use cameras, door locks, garage doors,
you know, those type of things everybody's part of and
wanted to be using front door, but you know, unlocking
the door using video camera, and the technology obviously goes
to being able to do all your audio video and stuff.
Speaker 1 (09:23):
Yeah, it's a lot of people. It's advancing so much,
even from a standpoint of voice recognition to turn on
to put scenes in the house for certain lighting, to
turn on the pool, to turn on the waterfall for
the pool, the sun of the hot tub, the the
you know, drapes and blinds opening and closing, you know,
with with voice recognition, you know, it really has evolved
(09:46):
into you know, what is it you what kind of
cool stuff do you want? It can probably be done.
It's just a matter of how much it's being done
and how expensive it will cost. You know. I even
saw something where now you've got Even showers and bath
tubs can be turned on remotely, so for example, you
(10:10):
wanted to run the you know, you wanted a bath
when you come home, and you wanted to walk right
into it and not wait for the water to run.
There's even technology now that's I mean, it's just evolved
so much on instantly recognizing your vehicle to open your
gate or your garage.
Speaker 2 (10:25):
You know, four blocks away, yes, when you and I
have I have the feature, although I didn't like it,
so I have it on my house where yeah that yeah,
we're literally like I can walk up to the door
and it knows I'm there and it unlocks.
Speaker 1 (10:40):
The reason I didn't like it is because one somebody
could steal my phone. Uh. The other the other thing
I didn't like was that what would happen is if
I'm walking around or doing stuff outside, you know, it
was constantly unlocking, Like if I if I left the
garage sometimes, you know, and I went out to grab
the trash, but I didn't actually go up the steps.
I was going in and out of garage, and sometimes
(11:00):
it would recognize me being close enough to where it
would where it would do that. So so I actually
turned it off. But but I do have the capability.
So smart home technology is amazing. What what anything else
besides like the smart home stuff that you feel like
has just really evolved the last few years in terms of,
you know, requests from your luxury clients, it's.
Speaker 2 (11:21):
Been a very big change and push to having full
secondary kitchens almost in their pantry you know, butler's pantry,
dirty kitchen, yep, caterer's kitchen. Yeah, cool areas where you
entertaining obviously is a popular thing at this price point
for sure too. So the ability to be able to
(11:45):
still entertain, still show off your you know, gorgeous gourmet kitchen,
but still be serving food, but it looks like you
never used.
Speaker 1 (11:53):
It exactly like and and so it's it's like you're
wanting to preserve how amazing your kitchen looks without actually
having to use this. So I don't actually use mine anyway,
It's good. I'm the king of takeout. So my girlfriend
actually works for a home builder, more of a track
home builder, and we don't have time to cook's. She
(12:13):
works a lot, I work a lot, so we're door
dashing new Berrets. So my kitchen miles six years old.
My kitchen still looks still looks perfect. It's barely used,
you know so, But nonetheless I get that approach and
I do see it pretty common. And so when we
come back, we're gonna talk to brand, We're gonna get
some of Brandon's web information. You guys can go look
at some of their listings and we'll continue this conversation
(12:36):
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 team at LPT Realty. Excited
today to have new legacy homes. Brandon Roberts with us
today talking about their South Tiapa custom home builds, and
we actually have one of them on the market right now,
(12:57):
thirty nine to nineteen Wesleyona Street. You can see all
the detail about this property on our website at the
Duncan Duo dot com. Very close to completion, stunning South
Tampa home, timeless craftsmanship with modern luxury, one of Tampa's
most desirable neighborhood's incredible school districts. Four bedroom, four and
a half bath, two car garage offering thirty five hundred
(13:18):
and eighty four square feet, private guest suite, chef inspired kitchen,
just incredible upgrades throughout price at two point zero nine
to nine million, also with a free one to zero
rate buydown when using Sellers preferred lender and so Brandon
any anything else that you think Obviously a lot of
really cool features here, Thermidor appliances, custom soft close cabinetry,
(13:43):
stone countertops, spo like bath, custom walking closet, a lot
of things that kind of come in that price range.
But what are maybe a couple of other things do
you think important about about the house at thirty nine
to nineteen Wesleona Street.
Speaker 2 (13:56):
The design is a little unique, it's modern. It's a
very modern Yeah, so that that has been fairly popular
in South Tampa. There's been a good run of it,
and we tend to see the younger buyers too tend
to like that design. So design features, you know, the
a few different products on the front of the home
that are you know, maintenance free products, the sustainable products,
(14:20):
a little bit in the design features. Again, this will
have a dirty kitchen behind, so you have the opportunity
to do some prep get back. It's starting to become
a little popular in that modern design or contemporary design
to split your fridge and freezer now if you're using towers,
so that one's got a little that unique design there
that you've got your split on the two. And then
(14:42):
outdoor kitchen of course included it with that home as well.
Speaker 1 (14:47):
Yeah. Yeah, and I think the other the other thing
that's unique about the location too, you know, I mentioned
a rated schools all the way around, really close to
some of the main roads in South Tampa. Restaurants all
within minutes away, you know. And and I think that,
you know, real estate is all about location, you know.
It just that's the reality of it. And and so
(15:08):
sometimes people want to know, like why are homes so
expensive in South Tampa. Well, it's because it's where most
people really desire to live. You know. Some people may
not live there now, but they want to get there,
right they They want to get there because it's convenient,
it's it's close to downtown, great schools, you know, and
it really does kind of have its own small town
kind of feel to it, you know. Having lived in
(15:31):
South Tampa for a long time, you know, people say like, oh,
Tampa is such a big city, but when you get
into the little nooks and crannies. They actually kind of
operate like small towns. I see a lot of the
same people when I go out to certain restaurants. I
see a lot of the same people when I go
to certain places around that area living in South Tampa myself.
So that part is is pretty cool. And you guys,
(15:51):
you know, look, you guys have done an incredible job.
You guys have a lot of clients. We've had clients
in common. You guys have had we both have had
hockey players Tampa Bay Lightning personnel work with our companies.
You know that. And and I think that just kind
of puts a stamp on the credibility from from you know,
when when you have those when you have that kind
of client tell as customers. One of the things that
(16:12):
you mentioned to me that I thought was kind of cool. Uh.
That surprised me or shocked me. And and I think
it's kind of a testament to Tampa too, is how
many young people you have where they're like in their
twenties that are buying like really expensive homes, sometimes with
with family support, sometimes not. But I also think that
that's kind of a cool thing that that Tampa is
(16:33):
starting to see that rejuvenation for you know, a decade
or even you know, when I first started in the business,
a lot of people saw Tampa as a retirement community, like, oh,
that's where you know, that's where people go to retire.
We're not that anymore. It's it's pretty cool. A lot
of young tech, young lawyers, young professionals, uh, you know
that that that are doing well moving here. And I
think that we're on the verge of seeing a surge
(16:56):
of that again, depending on what happens with you know,
property taxes and in straits I think are going to
keep are going to reignite population growth in Tampa assuming
no no massive hurricanes, that'll be something that keeps people away,
of course. So something kind of kind of interesting that
I didn't expect was how often you guys are experiencing that.
Speaker 2 (17:15):
Yeah, a lot of young you know, the young families
are moving here there. You know, Tampa Bay is a great,
great area to live in, a great place to be.
So they're seeing the opportunity here and as young professionals,
it's it's been We've seen quite a bit clientele.
Speaker 1 (17:28):
That's all sure. So website what you guys' website, So
people can go and look at your listings, or if
they're thinking about buying a custom home, what's website the
best website for.
Speaker 2 (17:36):
People to catch your properties at n L Holmes Tampa
dot com.
Speaker 1 (17:41):
Okay, n L Homes Tampa dot com. And then also
if someone's out there thinking about building a custom home,
what would be maybe a couple of tips that you
would say if if twenty six or twenty seven is there,
is their year and where they're where they're planning, what's
some homework or things you could you would recommend them
doing kind of ahead of time.
Speaker 2 (17:58):
Yeah, well, if they already live in Southampa and a
property that needs to you know, has seen maybe it's
lifespan or was damage during hurricanes, and isn't the intent
to rebuild? Knowing what your property is worth, you know,
kind of kind of be talking in the market, talking
to your neighbors and understanding, you know, property worth, so
(18:20):
you know where you stand.
Speaker 1 (18:22):
So you can sell to be able to upgrade, because
I would imagine you see that a lot a lot
of a lot of people that are selling their lower
priced home and then upgrading into the the higher price
home with you guys.
Speaker 2 (18:32):
Yeah, or just knowing the value of their home. You know,
as you said, the land value so high in South
Tampa that in some cases the land value is more value.
Speaker 1 (18:41):
It's the same whether the house is.
Speaker 2 (18:42):
There or not. So and a lot of these people
have lived here for a long time, so they've developed equity,
and they're you're more or less sitting on the equity.
You need to be able to build a custom home,
so you're in a lot of cases people don't quite
understand that you already have the financial means to build
build that house. You need to get in front of
your bank. I mean, yeah, CP loan. Learn about a
(19:04):
CP loan.
Speaker 1 (19:05):
That construction PERM loan. Definitely something that you can learn about.
I think that's a great tip. And go check out
NL Holmes Tampa dot com. You can check out their listenings.
You can drive by and kind of see what they
have going on. Check out our listing at thirty nine
to nineteen West Leona Street. I'll get one more plug
in there for that. You can see that at the
Duncan Duo dot com and you'll get a flavor for
their for their design taste and kind of the cool
(19:29):
urban modern field that you get with that house and
We're gonna be back continuing talking about the Tampa Bay
real estate market 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 team LPT
Realty just you know, had a great guest on Brandon
Roberts with New Legacy Homes South Tampa Custom Spec Custom
(19:52):
Luxury Spec home builder. We've got a listing of ours
at thirty nine to nineteen West Leona Street with them
three one oh by down on that house. In fact,
free one oh buydown on all single family listings listings
of ours presently. So if you're interest rate conscious and
wanting to get a good deal, a lot of home
builders offer these rate buydowns. And while our mortgage company
(20:15):
can't quite do some of the two to one buy
downs or three two to one buydowns that builders do,
we're offering a one to oh buy down on listings
of hours. So would love the opportunity to work with you.
You can go to our mortgage company directly at citywy
Tampa dot com or acquire with our team on any
one of our listings at the Dunkin Duo dot at
(20:35):
the Dunkin Duo dot Com, including thirty nine to nineteen
wes Leona Street. So I had a chance. You know,
I have a monthly conversation with a large hedge fund
and they some of these hedge funds reach out because
of my experience in the marketplace and how long I've
been selling in real estate, and they want to ask
(20:57):
me advice about what's going on in the market. Have
these calls where, you know, I'm a consultant to them
and we're going through the statistics. So each and every month,
I'm reviewing these stats and I'm talking to them and
also hearing what's going on in other markets. Well, I
reviewed the stats for December in Tampa and I saw
a couple of things that surprised me that I want
(21:18):
to share with you because I think they're relevant to
our real estate market. And I want to preface this
by telling you that the Tampa Bay real estate market
is unlike any other real estate market in the country.
Over the last couple of years. For one, a lot
of the challenges in our market were contributed by hurricanes.
(21:38):
You know, the majority of the other markets in the
country didn't have those like we did in twenty twenty four.
So twenty twenty five was a year where we felt
a lot of hurricane impact. You obviously had all of
the homes that were damaged and the time and energy
it took to renovate those and clean those up, to
clean up communities. You had the bad pr that we
(21:59):
got hit with, the which scares people away from living
in Tampa Bay, so they get afraid and they decide
not to buy in Tampa Bay because they're afraid of hurricanes.
Then you've got the you know, so that causes fear,
and then you've got some tax and insurance obstacles that
come along with that. So all together, twenty twenty five
(22:21):
was a rough year for real estate because of not
just the overhang of the market and high interest rates
and you know, challenging from an economic standpoint, but a
local standpoint that was challenging. Local information that was challenging
because of the of the hurricane hangover. So now that
that's starting to clear out, I felt like it was
(22:42):
starting to clear out. At the end of last year,
I felt an uptick in my business and a resurgence
starting to happen. And so whenever I feel that I'm
looking at data like website hits and information from our
CRM and then sales within my own team. A lot
of the national news is using, you know, two to
(23:02):
three month old data sometimes, so you might hear like, oh,
home sales are down or prices are down and think
that that's relevant, And it might be relevant nationally but
not relevant in Tampa. Tampa might be outperforming that. It's
kind of like the you know, the stock index. If
you hear the Dow is up on a particular day,
that doesn't mean every stock is up, Okay, it means
(23:23):
it's an index. Well, when you hear real estate prices
are up, it doesn't mean that every city in the
country is up or is down. Some are and some aren't.
So you got to drill down to the local market.
And in our local market, twenty five was tough. We
saw home values drop, when we saw home sales drop.
We've dealt with more customers that were doing a short
(23:46):
sale than we had seen in a long time. So
that being said, when I looked at the December twenty
twenty five stats, there were two things that stuck out
to me that made me feel even more optimistic about
twenty twenty six than I was previously. And look, I'll
(24:07):
say this, there are a couple of reasons why I
feel optimistic that I'll share. But the first statistic that
I was optimistically happy about was that home sales, total
home sales increase year over year. Now, look, they certainly
increased from twenty four to twenty five, okay, but that
was irrelevant because in twenty four so many homesales got
(24:29):
zapped and canceled and people were so afraid because it
was on the heels of those two hurricanes. So twenty
four was just really rough. So we did see an
increase from twenty four to twenty five, but to me,
it's not an increase in demand. It was just it
was it was almost artificial. Of course, homesales were going
to increase from a period of time where we had
(24:50):
the two worst hurricanes in a few month period in
our city's last couple of decades. Okay, So, but seeing
an increase from December of twenty four to December of
twenty five was still a positive. And the reason it
was a positive was because it was a few months
after So of course, if you compare September, you know,
(25:14):
or or you know October, those were really rough. By November.
By December of twenty twenty five, you know the market,
or December of twenty four the market had recovered a
little bit. So we saw year over year increase in
home sales, and for most of the year we were
not seeing that. Okay, So that's the first positive thing.
(25:34):
The second positive thing was that we saw the highest
average sale price in Tampa's history. We saw five hundred
and sixteen thousand average sale price. It was an enormous
jump from November. That is not normal, statistically normal, I
want to say it was. It was somewhere near a
seven or eight percent bump month over month and a
(25:57):
substantial bump year over year on the average sell price. Again,
that is a great month. That is appreciation that we
saw month over month and here every year. However, I
don't really start celebrating until we see that happen a
few months in a row. It could be a statistical anomaly,
it could be a few high end sales. It could
be a lot of people just trying to get in
(26:18):
for the homestead exemption. Okay, I don't think it's that,
and I think we're gonna see January and February stats
that outperform last year. And I think we're going to
continue to see twenty six outperform twenty five. And here's why. First,
we've seen a relief in interest rates. We have a
president that's very pro housing, that is going to do,
(26:38):
whether you like it or not, is going to do
things to juice and improve housing affordability and increase sales.
Whether they're tax related, whether they're interest rate related. He
is going to impact and influence housing for the better.
So we have that to our advantage. I think in
the second half of the year we'll see some more
interst rate relief. We're seeing the fan man Freddie Mack
(27:00):
buy mortgage backed securities and mortgage back bonds that allows
interest rates to soften. They dropped almost a quarter point
one day when Trump announced that. In addition to all
of those things, there are some local things happening. One, we're
another year away from the hurricanes, so that isn't on
the news, and other countries and another states on the
regular you're not seeing The dominant weather news story in
(27:24):
the country in twenty twenty four was Helene and Milton
Okay that's no longer the case. That isn't on the
top of people's mind anymore. There have been other catastrophic
storms and wars and other things going on that have
kind of kicked it off to the side. A more
time has passed for the area to heal and for
people mentally to not be consistently pounded with information about
(27:44):
those two storms. So that is a positive statewide. There
is another positive, and it is the positive that I
am most excited about. The State of Florida is going
to institute a plan that is going to massively cut
proper party taxes to eventually abolish non school property taxes
for homestead properties. The plan that they're rolling out that
(28:07):
is proposed now would knock off one hundred thousand dollars
each year for homestead properties on your property exemption for
non home nonschool taxes. By year ten, everybody that is
a homestead property would not pay nonschool taxes. Okay, pretty incredible.
I like how they're doing it. I like the ten
year plan. I like the fact that it rolls out
(28:28):
to the lowest priced homes first. It impacts affordability. It
is very bullish for real estate in Tampa I believe
when markets move, they move ahead of antic and anticipation
of news. If we think that interest rates are going
to soften later this year, and if we believe that
there's a reasonably good chance that this property tax legislation
(28:51):
passes in some form to massively reduce property taxes, what
does that do to people's payments? If interstrates drop and
taxes get dramatically reduced, it starts to put people's payments
back in line with what they were during the COVID boom,
when we had interest rates in the threes. People buy
(29:11):
on payment, they don't buy on the rate taxes, and
a cut in taxes, it's going to dramatically reduce their
payment while interest rates are dropping, I think we see
another boom. I think this is the first step of
the public starting to recognize that, and I think smart
consumers are starting to say, hey, look, the President has spoken,
the data is out there, we know what's coming. We
(29:33):
need to act in ahead of that, because if we
wait until all that stuff happens, that is probably unlikely
going to happen. Prices with skyrocket, just like they did
during COVID when we saw thirty two plus percent appreciation
So if you are a home buyer and you're saying, oh,
I'm going to wait till rates drop or I'm going
to wait until property taxes start cutting, let me tell
(29:53):
you that you are going to be too late. It's
kind of like getting a stock tip, which which you know,
again I'm I'm not talking about a stock tip from
an insider. I'm telling you somebody experience that believes the
stock is going to rise, and experience an investor that
sees and knows something and gives you that tip before
it's publicly known. They catch something in the data, and
(30:13):
then you're gonna wait until everyone else starts buying stock. No,
you got to do it now. And I think smart
money right now is starting to line up. People are
starting to prepare, they're making their moves. They're gonna upgrade
their house, They're gonna accept the interest rate and maybe
refinance later. They're gonna get into these opportunities before, because
if you wait until prices start rising when interest rates
(30:35):
are down, you're not really winning financially. In fact, you
might end up overpaying for that house, and the payment
that you think you're gonna save by lower rates and
lower taxes gets wiped out by the massive increase in value.
December we saw that for the first time, we saw
a massive bump in our average sale price. The other
thing that I think is important to align with real
(30:57):
estate is when we have currency devaluation in this country,
assets skyrocket. Look what's happening with gold and silver, Okay,
gold and silver skyrocketing. Is the dollar is weakening because asset,
the dollar becomes less valuable, assets will go up. And
guess what is an asset? Real estate? Real estate is
primed for what's going to happen in the next few years,
(31:18):
And I think you're missing out if you wait until
all that activity happens. You need to act in anticipation
of it. Smart money is doing that right now, and
that's why I think we're on the verge of a boom.
I think the real estate market in twenty six is
going to be a lot better than twenty five, again
assuming no hurricanes. Okay. Secondarily, I think twenty seven builds
(31:40):
on it and is even better in our market. So
why wait until it's skyrocketing? Why wait until the market
prices you out again? Why wait until you can't afford it?
If you can't afford it, you should be looking to
do something now, we would love to help you with that.
At the Duncan Duo dot com you can perform your
home search there. You can also get your free home
value estimate. At Duncan dot com you can get an
(32:01):
instant cash offer for your home. Or if you're just nosy,
you want to know what's going on with your neighbor's house.
You want to know if anyone in your neighborhood's in forullclosure,
just hit up Duncan Duo dot com. We would love
our team to help you. Our team of experts been
in the business. I've been in the business twenty one years.
I've got multiple agents with ten plus years of experience,
some of the most productive agents in the market. We
(32:22):
would love to help you. The cream rises to the
top and a challenging real estate market and our agents
continue to outproduce the average and we would love to
help you again at Duncan Duo dot com. I'm gonna
be back wrapping up our last segment after a quick
break here on the Duncan Duo Show. So back here
on the Duncan Duo Show talking about the Tampa Bay
real estate market. Andrew Duncan, the Duncan Duo team LPT Realty.
(32:43):
I just want to give a great, big shout out
to my broker at j LPT Realty and it's founder,
Robert Palmer. Last week they do this motivational Monday thing.
If you're a real estate agent thinking about a change,
whether you're thinking about joining LPT, whether you're thinking about
joining our team, go to join the duo dot com.
And I would love to tell you why I brought
(33:04):
my team, after owning my own franchise and my own team,
why I've rolled it into LPT real Team, Why I've
brought on almost a thousand people into my organization over
the last few years. Because I believe in the company.
I love what they're doing. They've got some really exciting
announcements coming. But one of the things they did last
(33:24):
week I thought was super cool is they do this
award show called the Desis. And one of the things
that a lot of real estate brokerages struggle with, and
even I struggle with this personally because it's not my
personality is recognizing and awarding agents that produce. And so
they did these awards called the Desis. And what the
Desis are are an AI fueled algorithm to determine the
(33:51):
best agents in particular zip codes or niches of the market.
So LPT awarded top reeltor awards all these different zip codes,
so like, whoever sold the most volume or units in
particular zip codes got these awards, And it was so
cool because you know, to do that and go that
extra mile and recognize those people. So many of my
(34:11):
agents were so excited that they got these little infographics
from social media that awarded them this top producing realtor.
The other thing that I thought was super cool at
the same time that the brokers did is they do
this thing called Motivational Monday. And on Motivational Monday, you know,
our founder Robert Palmer's on there talking about things that
are happening in the real estate market, helping inspire agents
(34:32):
overcome objections and just truly learn to be a better agent.
And they recently awarded sharest you know, they're called Restricted
Stockuments RSUs shares too agents that regularly attend and are
plugged in at Motivational Monday, based on the percentage of
times they log in and watch it. And I thought
that was so incredible because they were rewarding buy in
(34:55):
and those agents that are plugging in are going to
be more productive. But I just thought it cool because
it's a company that's pre ipo that has this huge runway.
You've got the founder of the company that's going to
be a billionaire that's super successful, is run and launch
and own multiple companies, and here he is helping agents
get recognition but also get a piece of the company,
(35:17):
and so I just thought it was really cool. It
does offer that is one of the benefits of the
company is that you have the opportunity to earn shares,
You have the opportunity to earn income from recruiting people.
But for me, it's just as much about the community
because you have a cloud based brokerage and sometimes those
cloud based companies have a hard time getting buy in
and communicating a community with their agents. And I thought
(35:38):
the recognition piece was super cool. I was so proud
of so many of my agents that won awards, and
it was something that you know, obviously, every year we
award our top agents with different things. We do a trip,
we let everybody know who the number one was, and
that sort of thing. But to drill down and go
deeper in the real estate space, brokerages just don't do
(35:58):
this very well. They're going to have their rankings and
they're going to award the people that sold the most
homes or hit the real Trends list, or people like
me that you know, they're advertised into a ton of business.
You know, the typical brokerage world. That's who's getting recognized, right,
and they try by doing like team awards and an
individual agent awards and all that. But but the fact
(36:20):
that LPT went so deep, to go all the way
down to a granular level of a zip code or
who uses certain types of marketing and gives them recognition
for their performance was really cool. Because you have agents
that might say, look, I don't want to work all
over the entire market and drive everywhere. I'm just going
to focus on my neighborhood and community and I'm happy
(36:43):
selling you know, fifteen or twenty homes a year. But
they don't ever get any awards or recognition, but time
they might be the number one agent in that neighborhood.
And so getting to recognize those people I thought was
super cool. It's something that no other company's doing. It's
why LPT is so innovative, why I'm excited to be
such a fast growing, you know, young company. So if
(37:03):
that's something you're interested in, whether it's the recognition, whether
it's the upside I've done. I've made a lot of
money investing in private equity and pre IPO companies, and
I just thought it was a logical move to benefit
from a company that's pre ipo and going to go
public and the financial headwind that an agent gets for
(37:25):
doing the same things are going to do somewhere else,
and not a publicly traded company where today most of
the value is sucked out of the company by the
time it goes public. The biggest winners are the people,
the insiders, the people that are early, the people to
get shares before it goes public. And that's what I
wanted to be a part of. So when I see
other companies out there saying, oh, well we get shares too, yeah,
I'm your shares are down thirty percent, you know, and
(37:45):
there's really no upside. They've been going down forever. That's
the cool part of it. LPT. It's a growth story.
It's a company that's going to go public. It's a
company that I believe a lot of people are going
to do incredibly well with the stock that they earn
by joining a company and growing it and something I'm
super passionate about. So if you want to learn more
about that and you're an agent, or you want to
(38:06):
be an agent on our team, just go to join
the Duo dot Com. You can set a consultation from
either one of those. You can message us, you can
apply for an open position for any one of those opportunities.
We are looking to add agents to our team. We
signed a great, big deal with Realtor dot Com and
we have more leads than we can keep up with.
So if you are thinking about joining a team, maybe
you're an individual agent you haven't had the success that
(38:28):
you want, you can do that at join the Duo
dot Com as well. So hope you enjoy the rest
of your Sunday. You know what, I hope you're heading
to Raymond James to watch our Lightning in the Stadium series,
an outdoor game. Maybe you see a little snowflurry here
and there, but not in the last Hope you're out
and joined the Lightning game. I'll be there as well
and have an awesome rest of your Sunday. Tampa Bay
Happy Sunday, Tampa Bay. We're with you for another week
here on the Duncan Duo real Estate Show, like we
are every Sunday at ten here on WFLA News. When
we aren't on air, make sure to fall us on
all of our socials at the Duncan Duo Twitter, Instagram, YouTube,
and TikTok. You might be listening to us today as
a regular listener, but you might just be inside avoiding
(00:21):
the freezing cold today. It's been a unique week in Tampa.
Lots of cool stuff going on. Freezing cold Gasprilla and
freezing cold hockey game today for our Tampa Bay Lightning.
But happy to have you on the show and keep
you updated on everything that's going on in the Tampa
Bay real estate market. I'm Andrew Duncan with the Duncan
Duo team LPT Realty. Excited to have Brandon Roberts with
(00:44):
New Legacy Homes today with us on the show. Brandon
is a client of ours. We've got a beautiful home
on the market on Leona that I'll talk about in
a little bit, but I just wanted to start, you know,
just talking to brand a little bit about New Legacy,
about what they do, and I would imagine you guys
this week probably aren't putting planes in place to heat driveways. Right,
(01:07):
there's there's people out there worried about snow and it's
I have a builder friend up north and they do that.
They they like they go underneath the drive like they
literally heat the driveways and a little dusting. Uh, you know,
I don't think counts for needing the heated driveways.
Speaker 2 (01:24):
So no, but this might be the first time that
anybody who's got any of the heated floors we've put
in in the past.
Speaker 1 (01:29):
Are using us. Yeah, fireplaces too. I have a couple
of fireplaces at my house and this would be the
like maybe the second time that And the other time
I used it was literally like for vanity. It was
actually a date when I was single. I was like
lighting the fireplace, trying to set the mood. Not a
lot of fireplace used in Tampa, so probably not a
lot of heated floor used to. But nonetheless happy to
(01:53):
have you on. You guys have been a builder, uh
you know, custom home builder in Tampa for a long time.
Build an incredible product. I love the uniqueness of your product.
You know, we'll talk about the house on Leona and
a little bit. But what was it, you know, when
you guys decided to kind of build the product that
you build a new legacy builds, a high end luxury
(02:14):
custom product that's that's also got a lot of modern,
kind of urban feel to it. I think that's been
a trend in design. And did you guys when you
guys started building products kind of down that lane? Is
that you saw gap in the industry that you saw
that like a lot of builders are maybe building you know,
more standard Mediterranean type stuff and you get you know,
(02:35):
because I feel like when I see your houses, I
know it's a new Legacy house and I know that
it's that it's it's it's better but different. You know,
it doesn't look like the a lot of the other builders.
Speaker 2 (02:46):
Yeah, I mean we first when we got started eleven
years ago, we were looking in the South Tampa market specifically.
I kind of saw, like you said, a market type
that really wasn't being hit quite as well as it
needed to be. There's been plenty of good luxury builders
custom builders in South Tampa that have great names and
(03:06):
have been there forever and ten years ago, eleven years ago,
it was kind of having a renaissance in South Tampa.
Things were starting to move again. People were coming into
this area. Obviously, COVID helped push that along faster. You know,
with the way Florida was, everybody just became a very
big destination area and that made South Tampa even you know,
(03:28):
more demanding. So there was just a kind of a
soft spot in the market for homes that were a
little less expensive than the big guys, but weren't just
existing homes. It was you know, there was an opportunity
for new homes in that area and not a lot
of people in that segment. And when my business partner
(03:50):
and I broke off to do it, you know, come,
we came from a production world and you learn a
lot of things not to do.
Speaker 1 (03:56):
Correct, especially because production world is all about turning, turning
on my turning them overturn, making it, get them as
quick as you can, turning over inventory, you know, you know,
getting the cost down as cheap as you can get
it to mass produce right, and mass by lots, you know.
And I won't mention the build I know the builder
you're with, and I won't mention them, but but you know,
(04:17):
the the reality is that you know, and I've heard
this before. You know, you learned some things that would apply,
but you also learned a lot of things that you
almost have to do the opposite of, especially when you're
building a custom higher end product for a customer that
you know has has uh, you know, distinct tastes. Yeah.
Speaker 2 (04:35):
Absolutely, And I was kind of when we started. We
we thought there's three things, you know that we mainly
need to make sure. We've seen too much in the
production world and just knowing the market type we were
trying to hit, is it the home needed to be
as low maintenance, if not no maintenance in a lot
of cases as possible, which goes opposites of what the
(04:55):
production would do if it was get it in and
as long as it worked long enough.
Speaker 1 (04:59):
Then you were having acceptable yeah.
Speaker 2 (05:00):
Yeah, and warranted on the back end, we needed to
be sustainable products needed to be a very low end
warranted product and maintenance products. And then also new stuff,
always trying to introduce new product, look at new ways
of doing stuff. Again production world, you get stuck in
doing the same thing over and over and over because.
Speaker 1 (05:19):
So now like new designs, new new features, you know,
and and that that's the thing that I love about
your designs too. Is that there because you are you
do sell homes where you've done custom builds, and then
you have somewhere you build on a lot and you
sell it as a as you know, kind of a
spec and but but having built enough of the custom homes,
(05:40):
you get a good understanding and a solid kind of
baseline of what the consumer expectation is. So so you
get as much of that as you can into a
you know, two or three million dollar you know, or
more than that house that that isn't you know, built
to a customer specific standards. It's already done for them.
And I think, you know, the other thing that was
(06:02):
that I found, you know, especially haven't been in the
real estate business. This is my twenty first year. Especially
earlier in my career, and that ten to eleven year
mark probably sounds about right. But early in my career
it was either you were buying, especially if someone was
in the luxury space, you were going to buy an
older home and renovate it, or you were going to
(06:24):
have a custom home built. There weren't many builders that
were willing to kind of, you know, bite off a
three million dollar you know house that that didn't already
have a buyer attached to it, so it's it is
something that's unique. But I also think that so many
consumers don't have the vision and need that they need
the plug and play move right in because they they
(06:47):
also either don't want to go through the timeline for
the whole full design or they just don't they need
somebody else to pick it for them because they don't
have the vision. So there is a clearly you guys
have seen that how many so how many homes a
gear in that? In that space? You know, what are
what are you guys's goals? How many do you do
a year? What? What is what is your you know
(07:08):
forecast look like continuing to build in that space?
Speaker 2 (07:12):
Yeah, I mean obviously things have regulated in the market
over the last couple of years, right, body's fairly well
aware of that. Yeah, So in a regular market type
you know, over the next few years, you know, our
our goal and our plan is to always try to
keep those custom builds at in eight to ten range
a year, yep. And then as you mentioned, we'll continue
(07:33):
to do some model type homes to obviously show off
what we can do give our designers, you know, or
give a designer an opportunity to display the things she
can do right and obviously helps keeping even flow for us.
Speaker 1 (07:45):
When you don't have a custom home build, you've got
you've got stuff going on to keep your people busy,
which I think, again not on the same scale, but
but I do a lot of remodel flips, and so
there are times where I might look at a remodel
flip and I don't have as much going on, and
maybe the margins aren't great, and maybe I don't love
the numbers, but we buy it because we want to
keep our keep our people busy and kind of keep
(08:06):
keep churning and keep moving. So some similarities just in
much lower price point. You know that you know, those
homes are in a different price range. What are some
of the unique things that you've seen change with you know,
kind of home design for luxury homes. One thing that
I've noticed that I think really stands out obviously the
urban and modern design. But but smart home technology. Smart
(08:29):
home technology seems like it is just you know, massively,
you know, it is just exploding in terms of the
features and things that you can program that you can
you know that you can integrate into a house.
Speaker 2 (08:42):
M yeah, and we we provide in our base back
or you know, in our in our base home when
we when we either provide custom or if we're building
a model, we do a nice which the ould a
lawn system brain in the background. You know, so you
have people really really focus absolutely on the safety security,
(09:03):
you know, being able to use cameras, door locks, garage doors,
you know, those type of things everybody's part of and
wanted to be using front door, but you know, unlocking
the door using video camera, and the technology obviously goes
to being able to do all your audio video and stuff.
Speaker 1 (09:23):
Yeah, it's a lot of people. It's advancing so much,
even from a standpoint of voice recognition to turn on
to put scenes in the house for certain lighting, to
turn on the pool, to turn on the waterfall for
the pool, the sun of the hot tub, the the
you know, drapes and blinds opening and closing, you know,
with with voice recognition, you know, it really has evolved
(09:46):
into you know, what is it you what kind of
cool stuff do you want? It can probably be done.
It's just a matter of how much it's being done
and how expensive it will cost. You know. I even
saw something where now you've got Even showers and bath
tubs can be turned on remotely, so for example, you
(10:10):
wanted to run the you know, you wanted a bath
when you come home, and you wanted to walk right
into it and not wait for the water to run.
There's even technology now that's I mean, it's just evolved
so much on instantly recognizing your vehicle to open your
gate or your garage.
Speaker 2 (10:25):
You know, four blocks away, yes, when you and I
have I have the feature, although I didn't like it,
so I have it on my house where yeah that yeah,
we're literally like I can walk up to the door
and it knows I'm there and it unlocks.
Speaker 1 (10:40):
The reason I didn't like it is because one somebody
could steal my phone. Uh. The other the other thing
I didn't like was that what would happen is if
I'm walking around or doing stuff outside, you know, it
was constantly unlocking, Like if I if I left the
garage sometimes, you know, and I went out to grab
the trash, but I didn't actually go up the steps.
I was going in and out of garage, and sometimes
(11:00):
it would recognize me being close enough to where it
would where it would do that. So so I actually
turned it off. But but I do have the capability.
So smart home technology is amazing. What what anything else
besides like the smart home stuff that you feel like
has just really evolved the last few years in terms of,
you know, requests from your luxury clients, it's.
Speaker 2 (11:21):
Been a very big change and push to having full
secondary kitchens almost in their pantry you know, butler's pantry,
dirty kitchen, yep, caterer's kitchen. Yeah, cool areas where you
entertaining obviously is a popular thing at this price point
for sure too. So the ability to be able to
(11:45):
still entertain, still show off your you know, gorgeous gourmet kitchen,
but still be serving food, but it looks like you
never used.
Speaker 1 (11:53):
It exactly like and and so it's it's like you're
wanting to preserve how amazing your kitchen looks without actually
having to use this. So I don't actually use mine anyway,
It's good. I'm the king of takeout. So my girlfriend
actually works for a home builder, more of a track
home builder, and we don't have time to cook's. She
(12:13):
works a lot, I work a lot, so we're door
dashing new Berrets. So my kitchen miles six years old.
My kitchen still looks still looks perfect. It's barely used,
you know so, But nonetheless I get that approach and
I do see it pretty common. And so when we
come back, we're gonna talk to brand, We're gonna get
some of Brandon's web information. You guys can go look
at some of their listings and we'll continue this conversation
(12:36):
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 team at LPT Realty. Excited
today to have new legacy homes. Brandon Roberts with us
today talking about their South Tiapa custom home builds, and
we actually have one of them on the market right now,
(12:57):
thirty nine to nineteen Wesleyona Street. You can see all
the detail about this property on our website at the
Duncan Duo dot com. Very close to completion, stunning South
Tampa home, timeless craftsmanship with modern luxury, one of Tampa's
most desirable neighborhood's incredible school districts. Four bedroom, four and
a half bath, two car garage offering thirty five hundred
(13:18):
and eighty four square feet, private guest suite, chef inspired kitchen,
just incredible upgrades throughout price at two point zero nine
to nine million, also with a free one to zero
rate buydown when using Sellers preferred lender and so Brandon
any anything else that you think Obviously a lot of
really cool features here, Thermidor appliances, custom soft close cabinetry,
(13:43):
stone countertops, spo like bath, custom walking closet, a lot
of things that kind of come in that price range.
But what are maybe a couple of other things do
you think important about about the house at thirty nine
to nineteen Wesleona Street.
Speaker 2 (13:56):
The design is a little unique, it's modern. It's a
very modern Yeah, so that that has been fairly popular
in South Tampa. There's been a good run of it,
and we tend to see the younger buyers too tend
to like that design. So design features, you know, the
a few different products on the front of the home
that are you know, maintenance free products, the sustainable products,
(14:20):
a little bit in the design features. Again, this will
have a dirty kitchen behind, so you have the opportunity
to do some prep get back. It's starting to become
a little popular in that modern design or contemporary design
to split your fridge and freezer now if you're using towers,
so that one's got a little that unique design there
that you've got your split on the two. And then
(14:42):
outdoor kitchen of course included it with that home as well.
Speaker 1 (14:47):
Yeah. Yeah, and I think the other the other thing
that's unique about the location too, you know, I mentioned
a rated schools all the way around, really close to
some of the main roads in South Tampa. Restaurants all
within minutes away, you know. And and I think that,
you know, real estate is all about location, you know.
It just that's the reality of it. And and so
(15:08):
sometimes people want to know, like why are homes so
expensive in South Tampa. Well, it's because it's where most
people really desire to live. You know. Some people may
not live there now, but they want to get there,
right they They want to get there because it's convenient,
it's it's close to downtown, great schools, you know, and
it really does kind of have its own small town
kind of feel to it, you know. Having lived in
(15:31):
South Tampa for a long time, you know, people say like, oh,
Tampa is such a big city, but when you get
into the little nooks and crannies. They actually kind of
operate like small towns. I see a lot of the
same people when I go out to certain restaurants. I
see a lot of the same people when I go
to certain places around that area living in South Tampa myself.
So that part is is pretty cool. And you guys,
(15:51):
you know, look, you guys have done an incredible job.
You guys have a lot of clients. We've had clients
in common. You guys have had we both have had
hockey players Tampa Bay Lightning personnel work with our companies.
You know that. And and I think that just kind
of puts a stamp on the credibility from from you know,
when when you have those when you have that kind
of client tell as customers. One of the things that
(16:12):
you mentioned to me that I thought was kind of cool. Uh.
That surprised me or shocked me. And and I think
it's kind of a testament to Tampa too, is how
many young people you have where they're like in their
twenties that are buying like really expensive homes, sometimes with
with family support, sometimes not. But I also think that
that's kind of a cool thing that that Tampa is
(16:33):
starting to see that rejuvenation for you know, a decade
or even you know, when I first started in the business,
a lot of people saw Tampa as a retirement community, like, oh,
that's where you know, that's where people go to retire.
We're not that anymore. It's it's pretty cool. A lot
of young tech, young lawyers, young professionals, uh, you know
that that that are doing well moving here. And I
think that we're on the verge of seeing a surge
(16:56):
of that again, depending on what happens with you know,
property taxes and in straits I think are going to
keep are going to reignite population growth in Tampa assuming
no no massive hurricanes, that'll be something that keeps people away,
of course. So something kind of kind of interesting that
I didn't expect was how often you guys are experiencing that.
Speaker 2 (17:15):
Yeah, a lot of young you know, the young families
are moving here there. You know, Tampa Bay is a great,
great area to live in, a great place to be.
So they're seeing the opportunity here and as young professionals,
it's it's been We've seen quite a bit clientele.
Speaker 1 (17:28):
That's all sure. So website what you guys' website, So
people can go and look at your listings, or if
they're thinking about buying a custom home, what's website the
best website for.
Speaker 2 (17:36):
People to catch your properties at n L Holmes Tampa
dot com.
Speaker 1 (17:41):
Okay, n L Homes Tampa dot com. And then also
if someone's out there thinking about building a custom home,
what would be maybe a couple of tips that you
would say if if twenty six or twenty seven is there,
is their year and where they're where they're planning, what's
some homework or things you could you would recommend them
doing kind of ahead of time.
Speaker 2 (17:58):
Yeah, well, if they already live in Southampa and a
property that needs to you know, has seen maybe it's
lifespan or was damage during hurricanes, and isn't the intent
to rebuild? Knowing what your property is worth, you know,
kind of kind of be talking in the market, talking
to your neighbors and understanding, you know, property worth, so
(18:20):
you know where you stand.
Speaker 1 (18:22):
So you can sell to be able to upgrade, because
I would imagine you see that a lot a lot
of a lot of people that are selling their lower
priced home and then upgrading into the the higher price
home with you guys.
Speaker 2 (18:32):
Yeah, or just knowing the value of their home. You know,
as you said, the land value so high in South
Tampa that in some cases the land value is more value.
Speaker 1 (18:41):
It's the same whether the house is.
Speaker 2 (18:42):
There or not. So and a lot of these people
have lived here for a long time, so they've developed equity,
and they're you're more or less sitting on the equity.
You need to be able to build a custom home,
so you're in a lot of cases people don't quite
understand that you already have the financial means to build
build that house. You need to get in front of
your bank. I mean, yeah, CP loan. Learn about a
(19:04):
CP loan.
Speaker 1 (19:05):
That construction PERM loan. Definitely something that you can learn about.
I think that's a great tip. And go check out
NL Holmes Tampa dot com. You can check out their listenings.
You can drive by and kind of see what they
have going on. Check out our listing at thirty nine
to nineteen West Leona Street. I'll get one more plug
in there for that. You can see that at the
Duncan Duo dot com and you'll get a flavor for
their for their design taste and kind of the cool
(19:29):
urban modern field that you get with that house and
We're gonna be back continuing talking about the Tampa Bay
real estate market 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 team LPT
Realty just you know, had a great guest on Brandon
Roberts with New Legacy Homes South Tampa Custom Spec Custom
(19:52):
Luxury Spec home builder. We've got a listing of ours
at thirty nine to nineteen West Leona Street with them
three one oh by down on that house. In fact,
free one oh buydown on all single family listings listings
of ours presently. So if you're interest rate conscious and
wanting to get a good deal, a lot of home
builders offer these rate buydowns. And while our mortgage company
(20:15):
can't quite do some of the two to one buy
downs or three two to one buydowns that builders do,
we're offering a one to oh buy down on listings
of hours. So would love the opportunity to work with you.
You can go to our mortgage company directly at citywy
Tampa dot com or acquire with our team on any
one of our listings at the Dunkin Duo dot at
(20:35):
the Dunkin Duo dot Com, including thirty nine to nineteen
wes Leona Street. So I had a chance. You know,
I have a monthly conversation with a large hedge fund
and they some of these hedge funds reach out because
of my experience in the marketplace and how long I've
been selling in real estate, and they want to ask
(20:57):
me advice about what's going on in the market. Have
these calls where, you know, I'm a consultant to them
and we're going through the statistics. So each and every month,
I'm reviewing these stats and I'm talking to them and
also hearing what's going on in other markets. Well, I
reviewed the stats for December in Tampa and I saw
a couple of things that surprised me that I want
(21:18):
to share with you because I think they're relevant to
our real estate market. And I want to preface this
by telling you that the Tampa Bay real estate market
is unlike any other real estate market in the country.
Over the last couple of years. For one, a lot
of the challenges in our market were contributed by hurricanes.
(21:38):
You know, the majority of the other markets in the
country didn't have those like we did in twenty twenty four.
So twenty twenty five was a year where we felt
a lot of hurricane impact. You obviously had all of
the homes that were damaged and the time and energy
it took to renovate those and clean those up, to
clean up communities. You had the bad pr that we
(21:59):
got hit with, the which scares people away from living
in Tampa Bay, so they get afraid and they decide
not to buy in Tampa Bay because they're afraid of hurricanes.
Then you've got the you know, so that causes fear,
and then you've got some tax and insurance obstacles that
come along with that. So all together, twenty twenty five
(22:21):
was a rough year for real estate because of not
just the overhang of the market and high interest rates
and you know, challenging from an economic standpoint, but a
local standpoint that was challenging. Local information that was challenging
because of the of the hurricane hangover. So now that
that's starting to clear out, I felt like it was
(22:42):
starting to clear out. At the end of last year,
I felt an uptick in my business and a resurgence
starting to happen. And so whenever I feel that I'm
looking at data like website hits and information from our
CRM and then sales within my own team. A lot
of the national news is using, you know, two to
(23:02):
three month old data sometimes, so you might hear like, oh,
home sales are down or prices are down and think
that that's relevant, And it might be relevant nationally but
not relevant in Tampa. Tampa might be outperforming that. It's
kind of like the you know, the stock index. If
you hear the Dow is up on a particular day,
that doesn't mean every stock is up, Okay, it means
(23:23):
it's an index. Well, when you hear real estate prices
are up, it doesn't mean that every city in the
country is up or is down. Some are and some aren't.
So you got to drill down to the local market.
And in our local market, twenty five was tough. We
saw home values drop, when we saw home sales drop.
We've dealt with more customers that were doing a short
(23:46):
sale than we had seen in a long time. So
that being said, when I looked at the December twenty
twenty five stats, there were two things that stuck out
to me that made me feel even more optimistic about
twenty twenty six than I was previously. And look, I'll
(24:07):
say this, there are a couple of reasons why I
feel optimistic that I'll share. But the first statistic that
I was optimistically happy about was that home sales, total
home sales increase year over year. Now, look, they certainly
increased from twenty four to twenty five, okay, but that
was irrelevant because in twenty four so many homesales got
(24:29):
zapped and canceled and people were so afraid because it
was on the heels of those two hurricanes. So twenty
four was just really rough. So we did see an
increase from twenty four to twenty five, but to me,
it's not an increase in demand. It was just it
was it was almost artificial. Of course, homesales were going
to increase from a period of time where we had
(24:50):
the two worst hurricanes in a few month period in
our city's last couple of decades. Okay, So, but seeing
an increase from December of twenty four to December of
twenty five was still a positive. And the reason it
was a positive was because it was a few months
after So of course, if you compare September, you know,
(25:14):
or or you know October, those were really rough. By November.
By December of twenty twenty five, you know the market,
or December of twenty four the market had recovered a
little bit. So we saw year over year increase in
home sales, and for most of the year we were
not seeing that. Okay, So that's the first positive thing.
(25:34):
The second positive thing was that we saw the highest
average sale price in Tampa's history. We saw five hundred
and sixteen thousand average sale price. It was an enormous
jump from November. That is not normal, statistically normal, I
want to say it was. It was somewhere near a
seven or eight percent bump month over month and a
(25:57):
substantial bump year over year on the average sell price. Again,
that is a great month. That is appreciation that we
saw month over month and here every year. However, I
don't really start celebrating until we see that happen a
few months in a row. It could be a statistical anomaly,
it could be a few high end sales. It could
be a lot of people just trying to get in
(26:18):
for the homestead exemption. Okay, I don't think it's that,
and I think we're gonna see January and February stats
that outperform last year. And I think we're going to
continue to see twenty six outperform twenty five. And here's why. First,
we've seen a relief in interest rates. We have a
president that's very pro housing, that is going to do,
(26:38):
whether you like it or not, is going to do
things to juice and improve housing affordability and increase sales.
Whether they're tax related, whether they're interest rate related. He
is going to impact and influence housing for the better.
So we have that to our advantage. I think in
the second half of the year we'll see some more
interst rate relief. We're seeing the fan man Freddie Mack
(27:00):
buy mortgage backed securities and mortgage back bonds that allows
interest rates to soften. They dropped almost a quarter point
one day when Trump announced that. In addition to all
of those things, there are some local things happening. One, we're
another year away from the hurricanes, so that isn't on
the news, and other countries and another states on the
regular you're not seeing The dominant weather news story in
(27:24):
the country in twenty twenty four was Helene and Milton
Okay that's no longer the case. That isn't on the
top of people's mind anymore. There have been other catastrophic
storms and wars and other things going on that have
kind of kicked it off to the side. A more
time has passed for the area to heal and for
people mentally to not be consistently pounded with information about
(27:44):
those two storms. So that is a positive statewide. There
is another positive, and it is the positive that I
am most excited about. The State of Florida is going
to institute a plan that is going to massively cut
proper party taxes to eventually abolish non school property taxes
for homestead properties. The plan that they're rolling out that
(28:07):
is proposed now would knock off one hundred thousand dollars
each year for homestead properties on your property exemption for
non home nonschool taxes. By year ten, everybody that is
a homestead property would not pay nonschool taxes. Okay, pretty incredible.
I like how they're doing it. I like the ten
year plan. I like the fact that it rolls out
(28:28):
to the lowest priced homes first. It impacts affordability. It
is very bullish for real estate in Tampa I believe
when markets move, they move ahead of antic and anticipation
of news. If we think that interest rates are going
to soften later this year, and if we believe that
there's a reasonably good chance that this property tax legislation
(28:51):
passes in some form to massively reduce property taxes, what
does that do to people's payments? If interstrates drop and
taxes get dramatically reduced, it starts to put people's payments
back in line with what they were during the COVID boom,
when we had interest rates in the threes. People buy
(29:11):
on payment, they don't buy on the rate taxes, and
a cut in taxes, it's going to dramatically reduce their
payment while interest rates are dropping, I think we see
another boom. I think this is the first step of
the public starting to recognize that, and I think smart
consumers are starting to say, hey, look, the President has spoken,
the data is out there, we know what's coming. We
(29:33):
need to act in ahead of that, because if we
wait until all that stuff happens, that is probably unlikely
going to happen. Prices with skyrocket, just like they did
during COVID when we saw thirty two plus percent appreciation
So if you are a home buyer and you're saying, oh,
I'm going to wait till rates drop or I'm going
to wait until property taxes start cutting, let me tell
(29:53):
you that you are going to be too late. It's
kind of like getting a stock tip, which which you know,
again I'm I'm not talking about a stock tip from
an insider. I'm telling you somebody experience that believes the
stock is going to rise, and experience an investor that
sees and knows something and gives you that tip before
it's publicly known. They catch something in the data, and
(30:13):
then you're gonna wait until everyone else starts buying stock. No,
you got to do it now. And I think smart
money right now is starting to line up. People are
starting to prepare, they're making their moves. They're gonna upgrade
their house, They're gonna accept the interest rate and maybe
refinance later. They're gonna get into these opportunities before, because
if you wait until prices start rising when interest rates
(30:35):
are down, you're not really winning financially. In fact, you
might end up overpaying for that house, and the payment
that you think you're gonna save by lower rates and
lower taxes gets wiped out by the massive increase in value.
December we saw that for the first time, we saw
a massive bump in our average sale price. The other
thing that I think is important to align with real
(30:57):
estate is when we have currency devaluation in this country,
assets skyrocket. Look what's happening with gold and silver, Okay,
gold and silver skyrocketing. Is the dollar is weakening because asset,
the dollar becomes less valuable, assets will go up. And
guess what is an asset? Real estate? Real estate is
primed for what's going to happen in the next few years,
(31:18):
And I think you're missing out if you wait until
all that activity happens. You need to act in anticipation
of it. Smart money is doing that right now, and
that's why I think we're on the verge of a boom.
I think the real estate market in twenty six is
going to be a lot better than twenty five, again
assuming no hurricanes. Okay. Secondarily, I think twenty seven builds
(31:40):
on it and is even better in our market. So
why wait until it's skyrocketing? Why wait until the market
prices you out again? Why wait until you can't afford it?
If you can't afford it, you should be looking to
do something now, we would love to help you with that.
At the Duncan Duo dot com you can perform your
home search there. You can also get your free home
value estimate. At Duncan dot com you can get an
(32:01):
instant cash offer for your home. Or if you're just nosy,
you want to know what's going on with your neighbor's house.
You want to know if anyone in your neighborhood's in forullclosure,
just hit up Duncan Duo dot com. We would love
our team to help you. Our team of experts been
in the business. I've been in the business twenty one years.
I've got multiple agents with ten plus years of experience,
some of the most productive agents in the market. We
(32:22):
would love to help you. The cream rises to the
top and a challenging real estate market and our agents
continue to outproduce the average and we would love to
help you again at Duncan Duo dot com. I'm gonna
be back wrapping up our last segment after a quick
break here on the Duncan Duo Show. So back here
on the Duncan Duo Show talking about the Tampa Bay
real estate market. Andrew Duncan, the Duncan Duo team LPT Realty.
(32:43):
I just want to give a great, big shout out
to my broker at j LPT Realty and it's founder,
Robert Palmer. Last week they do this motivational Monday thing.
If you're a real estate agent thinking about a change,
whether you're thinking about joining LPT, whether you're thinking about
joining our team, go to join the duo dot com.
And I would love to tell you why I brought
(33:04):
my team, after owning my own franchise and my own team,
why I've rolled it into LPT real Team, Why I've
brought on almost a thousand people into my organization over
the last few years. Because I believe in the company.
I love what they're doing. They've got some really exciting
announcements coming. But one of the things they did last
(33:24):
week I thought was super cool is they do this
award show called the Desis. And one of the things
that a lot of real estate brokerages struggle with, and
even I struggle with this personally because it's not my
personality is recognizing and awarding agents that produce. And so
they did these awards called the Desis. And what the
Desis are are an AI fueled algorithm to determine the
(33:51):
best agents in particular zip codes or niches of the market.
So LPT awarded top reeltor awards all these different zip codes,
so like, whoever sold the most volume or units in
particular zip codes got these awards, And it was so
cool because you know, to do that and go that
extra mile and recognize those people. So many of my
(34:11):
agents were so excited that they got these little infographics
from social media that awarded them this top producing realtor.
The other thing that I thought was super cool at
the same time that the brokers did is they do
this thing called Motivational Monday. And on Motivational Monday, you know,
our founder Robert Palmer's on there talking about things that
are happening in the real estate market, helping inspire agents
(34:32):
overcome objections and just truly learn to be a better agent.
And they recently awarded sharest you know, they're called Restricted
Stockuments RSUs shares too agents that regularly attend and are
plugged in at Motivational Monday, based on the percentage of
times they log in and watch it. And I thought
that was so incredible because they were rewarding buy in
(34:55):
and those agents that are plugging in are going to
be more productive. But I just thought it cool because
it's a company that's pre ipo that has this huge runway.
You've got the founder of the company that's going to
be a billionaire that's super successful, is run and launch
and own multiple companies, and here he is helping agents
get recognition but also get a piece of the company,
(35:17):
and so I just thought it was really cool. It
does offer that is one of the benefits of the
company is that you have the opportunity to earn shares,
You have the opportunity to earn income from recruiting people.
But for me, it's just as much about the community
because you have a cloud based brokerage and sometimes those
cloud based companies have a hard time getting buy in
and communicating a community with their agents. And I thought
(35:38):
the recognition piece was super cool. I was so proud
of so many of my agents that won awards, and
it was something that you know, obviously, every year we
award our top agents with different things. We do a trip,
we let everybody know who the number one was, and
that sort of thing. But to drill down and go
deeper in the real estate space, brokerages just don't do
(35:58):
this very well. They're going to have their rankings and
they're going to award the people that sold the most
homes or hit the real Trends list, or people like
me that you know, they're advertised into a ton of business.
You know, the typical brokerage world. That's who's getting recognized, right,
and they try by doing like team awards and an
individual agent awards and all that. But but the fact
(36:20):
that LPT went so deep, to go all the way
down to a granular level of a zip code or
who uses certain types of marketing and gives them recognition
for their performance was really cool. Because you have agents
that might say, look, I don't want to work all
over the entire market and drive everywhere. I'm just going
to focus on my neighborhood and community and I'm happy
(36:43):
selling you know, fifteen or twenty homes a year. But
they don't ever get any awards or recognition, but time
they might be the number one agent in that neighborhood.
And so getting to recognize those people I thought was
super cool. It's something that no other company's doing. It's
why LPT is so innovative, why I'm excited to be
such a fast growing, you know, young company. So if
(37:03):
that's something you're interested in, whether it's the recognition, whether
it's the upside I've done. I've made a lot of
money investing in private equity and pre IPO companies, and
I just thought it was a logical move to benefit
from a company that's pre ipo and going to go
public and the financial headwind that an agent gets for
(37:25):
doing the same things are going to do somewhere else,
and not a publicly traded company where today most of
the value is sucked out of the company by the
time it goes public. The biggest winners are the people,
the insiders, the people that are early, the people to
get shares before it goes public. And that's what I
wanted to be a part of. So when I see
other companies out there saying, oh, well we get shares too, yeah,
I'm your shares are down thirty percent, you know, and
(37:45):
there's really no upside. They've been going down forever. That's
the cool part of it. LPT. It's a growth story.
It's a company that's going to go public. It's a
company that I believe a lot of people are going
to do incredibly well with the stock that they earn
by joining a company and growing it and something I'm
super passionate about. So if you want to learn more
about that and you're an agent, or you want to
(38:06):
be an agent on our team, just go to join
the Duo dot Com. You can set a consultation from
either one of those. You can message us, you can
apply for an open position for any one of those opportunities.
We are looking to add agents to our team. We
signed a great, big deal with Realtor dot Com and
we have more leads than we can keep up with.
So if you are thinking about joining a team, maybe
you're an individual agent you haven't had the success that
(38:28):
you want, you can do that at join the Duo
dot Com as well. So hope you enjoy the rest
of your Sunday. You know what, I hope you're heading
to Raymond James to watch our Lightning in the Stadium series,
an outdoor game. Maybe you see a little snowflurry here
and there, but not in the last Hope you're out
and joined the Lightning game. I'll be there as well
and have an awesome rest of your Sunday. Tampa Bay
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