Duncan Duo 6-01-25

Episode Transcript

Speaker 1 (00:00):
Happy Sunday, Tampa Bay. We're with you for another week
here on the Duncan Duo Real Estate Show to talk
about everything that is happening in the Tampa Bay real
estate market. When we're not on air, please make sure
to follow us on all of our socials. We are
at the Duncan Duo Twitter, Instagram, YouTube, TikTok, Facebook, you
name it. At the Dunkin Duo follow us. We're always

(00:21):
putting out relevant real estate content to keep you updated
on all things Tampa Bay real estate. So at the
Duncan Duo. And if you want to know what's happening
in your neighborhood, look real estate. A lot of people
don't understand this. I'll see articles that talk about, you know,
home sales in the US are down, or prices in
the US are down, or this or that real estate

(00:43):
is hyper local. The national real estate trends may not
be applying to a city estate or even your own neighborhood.
So if you really want to know what is going
on in your neighborhood, go to Dunkinduo dot com. Find
out what the listings in your neighborhood are, what neighbors
might be in foreclosure, all of those things. Again, you

(01:05):
can type in your dress and follow the prompts at
Duncan Duo dot com. So one of the things that
I've noticed the last few years in the real estate market,
probably the last two years. Look, if you flash back
to twenty twenty and twenty twenty one, anybody with a
pulse could sell a house. And what's happened in the
last year or two is the cream has risen to

(01:26):
the top. The people that had the right training, the
right experience, that knew really what they were doing, that
they have thrived, that survived and thrived. The people that
got in for a get rich quick scheme because the
market was super hot and everyone thought they were doing great,
when in reality it was just a market delivering those
results to them. A lot of them were starting to
fail out and struggle because they didn't have the fundamentals.

(01:49):
Because in twenty twenty in twenty twenty one, when interest
rates were in the threes, anyone could sell house. Everything
was selling, There was no inventory, Everything was a bidding war,
and the agents that were marketing homes for sellers didn't
have to do a lot, they didn't have to put
a lot of effort into it. So I want to
give you some tips today if you're a home seller,

(02:10):
whether you hire my company or not, you know, I
want to give you some tips today as a home
seller of some things you need to look for in
an agent, and some things you need to make sure
are happening on your listing that are a little bit
off the grid, that aren't something people pay attention to
all the time. So the very first recommendation I'm going
to have to you as a home seller is to

(02:32):
price the home properly. And you hear that and you think, okay, yeah,
basic logic advice. Everyone tells you to price it right,
but that's not exactly what I mean. Of course, you've
got a price that with the market will bear. Of
course you've got a price at a number that it'll
praise for. When I say price it right, I'm talking
about the strategy of pricing at home. And there's such
a thing called strategic price points. Now a lot of

(02:55):
people don't understand this, but when you look at homes
online in twenty five fifty or one hundred thousand dollars,
increments based on the searches that consumers set up. So,
for example, someone looking up to four hundred, or someone
looking up to six hundred, or someone looking up to
a million. So when you're on the other side of
some of those strategy numbers, you miss an enormous part

(03:16):
of the audience. Okay, so I'll see a listing at
five oh nine, for example, that is a horrible mistake
because you're missing everyone that's saying I'm looking up to
five hundred. Even four ninety nine can be a little
bit of a mistake, though not as big of one
because then you might be a little bit further down
the list. When consumers look in that neighborhood or area
up to five hundred, where the polling price right at

(03:37):
five hundred will get all of the search. It'll also
get both sides of the search. Here's what I mean
by that. If you're if you have a consumer that's
looking up to five hundred uh and your price to
five hundred, you're at the top of the list and
they see you. If you're a consumer that says, you
know what I'm looking between five and six hundred at
four ninety nine and never see you. But at five hundred,

(03:58):
if they sort the list, if they say five hundred,
six hundred to five hundred and seven hundred, and they
sort the list by lowest price. First, you're at the
top of that list. So you want to be able
to capture as many eyes as you can with your price.
So the understanding the strategy of of course, pricing it
aggressively because we're in a market where prices aren't going up.
We're in a market where it is harder for homes
to sell, So of course you need a price aggressively,

(04:20):
but you also need to price understanding the strategy of
how consumers look at homes online and how you can
take advantage of that with your price to get more
eyes on your home. I see agents make this mistake
all the time. I even catch it in my own company.
Sometimes there's training out there that think that you know,
that makes you think that psychologically four ninety nine is
going to be better. It's you know, you're not you're

(04:41):
not buying gas, okay, you're buying a house and four
ninety nine five hundred to the same thing. But you
want to price it so that more consumers see the property. Okay.
So that's one thing that I think is really really important.
The second thing is is getting your home tidy, clean, smelling, nice,
addressing anything that you can address that's not major, so

(05:03):
that you eliminate objections, and then decluttering. We do something
in our company where we do a matter Port three
D tour for a lot of our clients. And this
three D tour is literally like a walk through where
you can kind of zoom in and see rooms and
all this stuff. But there are times where we won't
do it for a consumer because the house is so
cluttered that on the three D tour it's going to

(05:24):
look even worse. So we're obviously analyzing all the different
technology we can use, and we don't want to put
a bad foot forward for that house if it's not
up to par. So it's important that you declutter the
house to get the best exposure, to get the best impression,
and to get the best price. So it doesn't necessarily
mean you have to stage it, although we do recommend
that sometimes. But what really needs to happen is there

(05:46):
needs to be less furniture. It needs to feel as
close to a new construction model home as it can.
You need to not be there during showings. This is
a big one. When you go into a a new
construction model home, obviously there is an agent there from
the builder, but the homeowners aren't there. Okay, homeowner is

(06:08):
what I need you to understand that you don't get
is that you're kind of creepy. Okay, when you're there
at the house, and if there's one agent or two
agents there, that's fine. But if you're going to stay
there during an open house, or you're going to be
there when the house is being shown, I promise you
the agent and the buyers are uncomfortable. They're uncomfortable because

(06:30):
it's kind of like the parents riding along with your
first date. Okay, flashback to high school or maybe even
middle school if you were really ambitious. But flash back
to your first date, right, did you love that mom
and dad was there? Well, that's what it feels like.
If you want someone to fall in love with your house,

(06:52):
you can't make them uncomfortable if you're there because you
want to answer their questions and give them all the
facts about the house. I would be like on a
first day asking for someone's resume. You're not falling in
love at the resume and they're not falling in love
with the facts. They need to experience the house. Okay,
the fewer people there, the better. The longer they're in there,
the better. If you're there, they're going to rush through

(07:14):
the house, they're gonna feel uncomfortable, and sometimes, frankly, homeowners,
a lot of you are just weird sometimes like you
make people feel uncomfortable. You're walking through the you know,
the house with them and asking them uncomfortable questions. You
think you have social skills that you don't have. If
you want to get top dollar for your house, homeowners,
don't be present at showings or open houses. Okay, your

(07:38):
stuff ain't getting stolen. The likely of something happening to
your stuff is so rare. In thousands and thousands of
transactions in my real estate career, there's been once or
twice where something happened with someone's stuff. And if you're
really worried about your stuff, put it up, put it
in a safe, hide it, hide it in drors, take
it out of the house. Okay. You're not there to
protect your stuff. You're there to freak out the buyer,

(07:59):
make them feel like you're a creepy and have them
not buy your house. Okay. So, if you're a homeowner,
do not be present for the showings of your home
or for the open houses. Let the agent do its
job and let the customer. Let the buyer walk through
and experience your house. Statistics tell us the longer someone
is in your house, the more likely enter to buy it.

(08:19):
And when you're there, they feel like they're also on
your schedule. And naturally a lot of people that tend
to maybe be nice or considered it of others, they
feel like maybe they're taking too much time, and then
they rush out, and then they don't remember your house
but to buy the one down the street that was
vacant because they could sit in it for thirty minutes
and envision living there, even though your house was better.
You creep them out. Okay, So homeowners don't be present.

(08:41):
If you're gonna be present, you're gonna get less money.
You're gonna turn away. Buyers can take longer for you
to sell. Another important thing is cleaning the house. Hire
a professional to clean your house and have it smell nice. Okay,
smells really matter. And when you've lived in a property
for a long time and I know I have two dogs, okay,
and I get used to my dogs and the hair

(09:04):
and the smells sometimes right, and you love your dogs
and you love your animals, and you love your kids.
But here's the reality. Your nose deaf to those smells.
You get used to them, you don't realize them. You
clean the house yourself and think it's clean, but it
still smells smells like dog, or smells like cigarettes, or
smells like a mess your kids made. Have a professional
clean your house if you want to get the most

(09:25):
amount of money and you don't want to turn off
a perspective buyer. Another important thing about marketing your home.
Obviously everyone's going to tell you professional photos. They're going
to tell you how important the first photo is. Photos
on a good weather day. We're a big proponent of video.
And look, there are a lot of real estate agents

(09:45):
that do these videos and they walk through the house
and you know, I'll make a joke. No one really
wants to watch my butt walk through a house. Okay,
there are people on Instagram that get thousands and thousands
of views on videos because the person walking through is
super attractive. Okay, they're again, people are watching that and
they're not paying attention to the house. Okay, so we're

(10:07):
selling the house. We want them paying attention to the house.
And honestly, you don't really want to watch me walk
through it anyway. So we do a walk through video
with a dji osmo so you can see all the angles.
You can see how the floorplane flows. We do three
D stuff. But the videos matter because our audience now
isn't just local to Tampa Bay. It's the world. There

(10:27):
are people moving here from all over the country. Maybe
not as many before President Trump came in, but nonetheless,
there are people moving from all over the world and
buying homes in Florida, and we want them to be
able to quote unquote take a tour and pay attention
to the house. Last, but not least, tips forgetting the
most amount of money for your house. And again that

(10:48):
are off the grid. I've talked about some things that
may be common, and I'm pretty sure I've mentioned some
things today that you may not realize or that may
not be as common to you. The last one is
going to be your stuff. Okay, your stuff is a
distraction if it's amazing stuff. So I'll give you an example.
You want them paying attention to the house. You want

(11:09):
them falling in love with the house. You don't want
them falling in love with and paying attention to your stuff.
Your stuff is a distraction when it is not super neutral.
So I toured a home recently in South Tampa and
the homeowner had a several I wouldn't say a million,
but hundreds of thousands of dollars worth of very high

(11:32):
integrated sports cards up on his wall in cases and
different things. The customer that I brought to the house
was a sports card guy, and I caught him basically
just observing and getting excited about the sports cards and
not paying attention to the house. If you have really
cool stuff, you might want to take it down because

(11:52):
then people aren't paying attention to the house, and then
they're going to remember your house as a sports card
house and not the house that had the great family
room and the great pool and the water view. Okay,
so you want to eliminate those things that cause the
consumer to not pay attention to the house and to
not be distracted. So your stuff, if it's really cool
and not neutral, you know, hide it, take it down.

(12:14):
Same thing you could. You could be a huge Yankees
fan and have Yankee stuff everywhere and then tick off
the guy that's a Red Sox fan. So my opinion
is make your house as neutral as you can and
if you have really really cool stuff, Okay, hide it
because it becomes a distraction and then the consumers are
paying attention to the stuff and not the house. Sofully
that helps. But the number one thing you need to

(12:35):
do if you want to sell your home in Tampa
Bay for top dollar is just hit us up. Just
go to Dunkin Duo dot com, fill out a quick form,
we'll reach out. We'll give you all the advice you can.
Hopefully if you're working with someone else, these tips will
help you get top dollar and get your home sold.
And we're gonna be back. We're going to continue our
conversation after a quick break here on the Dunkin Duo
Real Estate Show. So we're back here on the Duncan
Duo Show talking about the Tampa Bay real estate market

(12:57):
when we aren't on air again at the Dunkin Duo
Twitter and YouTube, TikTok, Facebook, and Duncan Duo dot com.
New home sales surged in April ten point nine percent,
and I want to talk about, first off, the pros
of buying a new construction home and second off, why
this is happening and why it's relevant here in Tampa Bay.

(13:17):
I think in Tampa Bay. We're going to continue to
see strong new construction sales, especially in the outskirts of
our suburbs where you're seeing these large, massive planned communities
getting built with lots of amenities. You know. The other
things that are happening is, you know, central and South
Tampa gets so congested and people I think are getting

(13:38):
tired of it. Last, but not least, I think you
have people that are consciously looking at the risks and
the costs of flood insurance and how living in some
of those higher likely flood areas is causing people to say, look,
I still want to experience Tampa Bay. I still want
to live here, but maybe I want to move to
the outskirts a little bit. So sales have newly built
single family homes in April nationally did massively in And

(14:01):
I want to give some other reasons why buying a
new construction home makes sense for people, and whether you're
building a custom home where you can customize a lot
of the utilities and the features and amenities, or you're
buying a track home from a large scale builder, new
construction offers a lot of benefits for customers, and if
you're not looking at new construction. If you're looking in

(14:22):
an area that doesn't have new construction, I would encourage
you and your family to maybe go a little further
out or maybe a similar distance from your work or
where you like to visit and look at some new
construction homes to see the difference in quality that you get,
but also the benefit of the amenities and then the
lower costs. And people say, well, hey, you know, what

(14:44):
do you mean lower costs? Well, of course, a new
construction home the actual price maybe a little bit higher
than a resale home, you know, not far away, simply
because it is it's new. There's a premium associated with,
you know, a house that hasn't been lived in. But
the financial benefits of living in a new construction and
I mean a brand new construction, never lived in home

(15:05):
are many. The first one, you're going to have cheaper insurance.
You have cheaper insurance because the house is built to
higher standards. It hasn't endured any damage, it hasn't endured
any storms or rains, right it is. It's going to
be cheaper on insurance because it's up to newer codes.
And you know, again it is none of the because

(15:26):
when you build a house as it ages, there are
parts of it that we can so none of that
exists in a new construction home, so insurance company is
willing to offer lower rates on new construction homes. The
second thing that you're going to have is utility expenses
are going to be lower, and a new construction home
you're naturally going to spend less on utilities because it's
better insulated, it's newer technologies, so utility costs on new

(15:51):
construction homes tend to be lower than resale homes, especially
you know, the older the home is, the more those
things can cost. Another major financial advantage of buying a
new construction home, and this is going to be somewhat
dependent on whether you buy with a mortgage and how
the mortgage lender determines what your tax your tax escrows

(16:14):
should be. But typically the first year of living in
a new construction home, because our taxes here are in arrears,
your payment is going to be lower artificially for a
little bit of time. How much lower will again depends
on your lender, how they adjusts grows, what time of
year you're buying it. There's a lot of variables, but
naturally your property taxes are going to be lower for

(16:35):
a little bit until the property gets assessed. Our taxes
are in arrears. So when you move into a home,
let's just say you're moving into a home in June
of twenty twenty five, the property tax bills based on
what the property was last year, which was likely dirt
and likely much less expensive than an assessed single family home.
So new constructions cheaper on taxes for a short period

(16:58):
of time until it corrects and gets real sessed. It's
cheaper on insurance, it's cheaper on utilities. It's also cheaper
on maintenance. Okay, you're not as likely to have things
that you're gonna have to pay for with a new
construction home because there's going to be a warranty. All
builders have a warranty. Some are better than others, some
are longer than others, some cover more things. But there's

(17:19):
going to be a warranty that will reduce your expense
for a lot of the items that could go wrong,
and because they're newer, they're much less likely to go wrong.
So your maintenance is something that a lot of buyers
that buy older homes, you know, don't plan for. And
not long ago, our team sold a nineteen twenty Simone
to Heights Bungalow to a young, newlywed, first time home
buyer couple, and within a year they wanted to sell

(17:40):
it because it was a money pit. They had to
spend money all the time to fix stuff, and fixing
an older home was more expensive a lot of first
time home buyers. And we actually did encourage and strongly
recommend this person buy a new construction home, and they
didn't listen. And now that's what they're buying. But if
you are a first time home buyer and you've not
been in charge of maintaining your home before, and you
live in an apartment or live with your parents, if

(18:03):
you go away from like townhome, which is you know,
another step. You know, it's kind of a step in
the direction. If you go apartment, townhome house a townhomes
kind of the in between because you still have your
own space, you still own the land underneath, but there's
some shared utility, shared expense, shared maintenance. If you're buying
a new construction single family home, you're gonna have less
of a sticker shock when you have to deal with things,

(18:26):
because you're not going to have as many of those
things pop up as to when you were able to
just call your landlord and have it fixed. So, if
you are a first time home buyer, I can't recommend
enough buying a new construction home. There's financial incentives, there's
logistical incentives, and there's just the stuff that you're not
prepared for that is going to get thrown at you
when you buy a resell house. So new construction our

(18:48):
team specializes. We have specialists that work only with clients
looking for new construction. If you're interested in that, you
can call to at eight one three three five nine
eighty nine ninety. We'll make sure to get you all
the builder incentives. The builder will pay our fees and
services and commissions, and we'll get you the best price possible.
Get eight one three three eighty nine ninety or hit
us up a Duncan Duo dot com. Read back continuous

(19:09):
conversation after a quick break here on the Duncan Duo
Real Estate Show. So we're back here on the Duncan
Duo Show talking about the Tampa Bay real estate market.
And you know, I get this question all the time,
and I want to kind of talk about it from
a standpoint of the you know, the the premium or
not premium that you add to a property for condition

(19:30):
and features. And so when we aren't on air again,
you can get all this tips and advice at the
Dunkin Duo on Twitter, Instagram, YouTube, and TikTok. But homes
that are updated, consumers will come to us and say, hey,
just bought this house for three hundred and I put
fifty thousand in it, So it's worth three fifty now right,
Not exactly, it could be worth more than three fifty,

(19:52):
but very likely it's going to be worth less. So
what I want you to understand is that as an
investor and as someone who buys and re sells a
lot of property and who flips a lot of homes
that we buy directly from customers, if you have a
home that needs a lot of work and you do
want to just simply sell it again, go to dunkindo
dot com request a cash offer will come out. We'll
compete with the big boys, and we'll keep the money local,

(20:15):
not sending it off the wall street, giving back to
our local community, creating jobs and all those things and more.
Again dunkindo it dot com if you want a quick
cash offer, but if you're someone struggling with improvements and
understanding the value. A pool is a common one, and
during the pandemic, a pool was an even greater premium
than it is now because again during the pandemic, we

(20:40):
were limited with where we could go and what we
could do, and pools are trading at a higher premium.
In other words, houses with pools, the cost of the
pool was adding more. It was adding more than the
cost of the pool to the value the home. That
is obviously diminished now the pandemic driven surgeon swimming pool
premiums a society and pools still command a significant price
advantage and the share of listings. You know, still a

(21:02):
lot of pool homes out there, and people are getting pools,
but it's not as rampant as it was, so the
price premium, and this is something that you know, to
give you an understanding. In twenty nineteen, and this is
a national stat but it's relatively close for us, the
typical listing price for a home with the pool was
four fifteen in twenty twenty five. You know, it's it's

(21:25):
gone up to almost six hundred thousand dollars. It has
dropped some though, But here's what I want you to understand,
most improvements in your home don't add what they cost.
If you spent one hundred thousand dollars on your pool,
it probably didn't add one hundred thousand dollars in value, okay,

(21:46):
because you used it and then it depreciated. So I'll
have clients say, well, I spent one hundred and twenty
on my pool in twenty nineteen, and shouldn't my home
be worth one hundred and twenty more than my neighbor's house.
It's the exact same doesn't have a pool, and it
just doesn't work like that. So your pool does get
you a premium price, and there are consumers that want it.
But unless your pool is some massive, custom, amazing thing,

(22:12):
the likelihood that you're getting more than your pool cost
is slim. And so you know, I want consumers to
understand if you update the kitchen, or if you put
one hundred grand into this or one hundred grand into that,
it may not bring you back a return on investment
because you're going to use it. Now. There are times
when a certain renovation can add a premium and get

(22:35):
your house more money than the cost of the renovation. Look,
I buy homes and renovate them and make a profit
all the time. So it does exist, it's just not
as obvious as people think. Typically, that home that we
bought that we renovate had a lot of things wrong
with it, and we corrected a lot of them. Just
taking one thing to the side and say, hey, I

(22:56):
mus spend one hundred on a pool, so my house
worth a hundred more. It just doesn't work. Is common
like that. Now. Again, every neighborhood's different, every house is different,
and there are times where we'll look at it. I
have a very good friend not long ago who's who
was in a neighborhood that just didn't have very many pools,
and he added a pool and he actually got more.
He got a premium even in this market. Of course,

(23:16):
he had our marketing under at his disposable. But when
you do make renovations, especially if they're not renovated and
unused in other words, like you renovate the house and
then you sell it, that renovation will get a premium.
If you renovated a house three years ago, it's not
getting that dollar because it's depreciated, it's used that there's
wear and tear on the stuff, and consumers will sometimes say, well,

(23:39):
I renovated this house in twenty thirteen, as twelve years ago,
that's no longer renovated. Okay, Like if you're saying a
house is renovated or updated or upgraded, that means it's
relatively recent, not thirteen years ago. So if you're if
you're an agent, we need a dead stop this. I
see this all the time. New roof in two thousand
and nine, Dude, it's twenty twenty five. That's a sixteen

(24:02):
year old roof. That roof shot and a lot of
neighborhoods depending on the shingles or whether it's barrel tile.
So what I'm basically saying is you're not likely to
get back most of the things that you spend money on.
The things that you can get back your money that
you spend money on, if they're a hyper luxury or
super unique or something that's just unmatched in any of

(24:22):
the homes, you may The higher the price point, the
more likely it is for you to do that, because
there's people that that crowd isn't as cost conscious and
they can pay the premium for it because they really
want it. But typically unless your renovation is done and
then you put the house on the market. You're not
getting dollar for dollar on most things. The things that
you can get dollar for dollar for. You can get

(24:44):
dollar for dollar on landscaping because the curb appeable appeal
is inexpensive and it can help pop the price. You
can get dollar for dollar on staging, and you can
get dollar for dollar on painting if the paint's in
really bad condition. But typically most of the things that
you're going to spend money on if you're selling in
a retail environment, aren't going to return you dollar for dollar.

(25:04):
And I think a lot of consumers misunderstand that and
they go into the process having this expectation of hey,
I bought the house for five hundred, I put two
hundred in it, so I need to get seven hundred.
It just doesn't work that way. So the next thing
I want to talk about are people that are moving up.
If you're somebody that's moving up, we want to help you.
So if you're selling your home and then buying another,

(25:26):
there are some creative things that we can do to
help you financially but also to help you prepare for that.
One of those is, you know, finding a cash buyer
for your house first. So it's under contract. Getting your
house under contract before you go and look at homes.
People make that mistake a lot. They need to sell
their existing before they buy the new one. They go
out and start looking at homes that they want to buy.
They fall in love, but they can't buy it until

(25:47):
they sell theirs, and then they can't sell theirs, and
then it goes away and it sells. My recommendation is
not to really go out and look truthfully seriously at
homes and so you have the ability to buy them,
because Murphy's Law tells us something can go wrong. It will.
You're going to go out to that house, you're going
to a wife's going to fall in love, or you're going
to fall in love, and you're not going to be
able to buy it, and then you're going to be
so upset and then you're going to stay in your

(26:08):
house because you missed out on what you think is
your dream home, when likely another one would have showed
up another month or two later that would have been
your dream home too. So my recommendation don't go out
and look at houses to buy until you sell your
existing home. But if you are selling your existing home
and buying another one, and it's in a comparable market
and you're buying a more expensive home. This advice is
for you. So if you're someone in the next year

(26:29):
or two, okay, because I think we're going to be
in this market. Might see a little bit more appreciation
next year if we get some interest rate relief, but
I think we're going to be in a really comparable
higher inventory. Price is not rising that much market for
the next year or two based on the economy. And
if you're selling your home and buying a more expensive
one in a similar market, okay. And this could apply

(26:54):
if you're selling your home locally and moving somewhere else.
It just depends on what the analysis of what's going
on in the market that you're looking to buy in.
And we can help you with both of those at
LPT Realty. We're a national real estate company, so I
have friends that are top agents all over the country,
all over the world. So if you're selling and buying
somewhere else, and you can tie those two transactions together

(27:15):
and make sure it's either the same agent or agents
from a similar brokerage to help you. There's a lot
of things you can coordinate and tie together to protect
you from getting buying one home and not getting the
other one. There's contingencies, there's contractual things, there's language we
can put in the contract, and then there's just strategy.
And here's the strategy that I think a lot of
consumers are going into this process right now and they're

(27:35):
failing it. Because everyone thinks their house is the taj Mahal.
Everyone thinks their house is the best house. And unfortunately
the run up of our real estate market, even though
we've had two years of prices not really rising, the
average sell price in Tampa today is about the same
as it was two years ago. It's negligible, certainly when
you factor in inflation, it's not rising. Okay. So, but

(27:57):
we had so many years of a run up that
people just naturally think, oh, well, my neighbor's house sold
six months ago for four hundreds, and I can get
four in a quarter. Because that was the norm. That
was what was happening, That's what the news put out
for years and years and years and years, and there's
some people that just haven't realized that it changed, that
isn't happening anymore. Okay. So it's all relative, though. So

(28:17):
let's just say you're selling your four hundred and a
year ago it was worth four twenty five four twenty,
or you would have maybe made a little bit more money.
But the seven hundred thousand dollars house that you're gonna buy,
what do you think it's in a vacuum? What do
you think it did? It also depreciated, maybe a little bit,
maybe not a lot, but it also stayed the same.
What you get for your existing house is only relevant

(28:38):
to what you get on your purchase. I'll have consumers
tell us, well, I'm not going to sell my four
hundred to buy the seven hundred until I can get
four fifty for my four hundred, and if they have
the financial capability to sell. Look, there's one thing of
saying you have to satisfy your mortgage and you don't
have money. Okay that that obviously exists, But there are

(28:58):
plenty of people that have the money to sell iisfy
the mortgage or that can make it up on the buy.
So here's what I mean. If you're waiting for your
four hundred thousand, do our house to get to four
to fifty? Do you think the seven hundred is sitting still?
Do you think it's just not going to go up.
If it's in the same market, it's going to go
up too. You know, if you need twelve percent appreciation
to get your four hundred to four to fifty and

(29:19):
your seven hundred goes up twelve percent to seven eighty four,
you just lost thirty four thousand dollars in equity that
if you to just bit the bullet on the house
that you own. And I think a lot of people
fail to understand the opportunity cost. I see people in
bad real estate investments all the time and say, oh,
I'm gonna wait for my I got to get it
up to three hundred. I just can't sell it for

(29:41):
less than that. And they wait a year or two
and they get it up to three hundred, and now
the thing that they go that they're going to go
buy also went up and they didn't gain anything. The
property that you own, your investments that you own, are
not a vacuum. Okay, there's an opportunity cost that you're
giving up, the enjoyment that you would get of that property,
the better return on investment, and also the price. If

(30:04):
you need your price to be hired, the price of
what you're gonna buy is gonna end up going up too, okay,
And so a lot of consumers make that mistake. They
don't they think they're in a vacuum. They think, well,
I got to get four to twenty five. Well, the
market just doesn't support it. And if you're gonna wait,
you're gonna put it on the market and wait for
appreciation to take it from four to four to twenty five,
what do you think has happened in to the seven hundred.
So if you're moving if you're moving down, it's a

(30:25):
completely different analysis. That is a completely different analysis. But
if you're moving up in a comparable neighborhood or area
and you're selling your home to buy an existing home
and you don't like the price of the home that
you're selling, again, you can approve it, you can spend
money on it, okay, But you're better off just getting

(30:47):
that home sold and then making it up on the
buy because you're buying in a similar market. It's also
soft on the buy side. So you're four to twenty
five that you got to sell for four hundred, they're
seven hundred. Now you're going to say, oh, six seventy five,
six sixty six fifty, you're gonna make it up on
the buy. People have to understand that you make money
in real estate on the buy, not on sell. You
make it in your buy. So if you're not gonna

(31:08):
make as much as you want when you sell, make
it on your buy. Make it back up. The property
value of your home is going to pull the other
property that you're looking at buying up to if that's
your strategy. If you say I'm just gonna wait until
values go up, you're just gonna cost yourself more money. Now,
interest rates certainly can have an impact on that, and
I've always told people the interest rates are short term.

(31:31):
It's a thirty year mortgage, I get it. No one
makes it thirty years in their mortgage. Everyone refinances it
to a lower rate at some point when it makes sense.
So you're not buying, you're not getting that rate forever.
You're getting that rate for a period of time until
rates can drop. You have to look at the alternative,
the cost, the value benefit for it to make sense
for you to make that move up. But of course,

(31:52):
if you've got a really low rate and you're going
to buy it's a really high rate, you get to
factor that into the finances. But again four hundred Okay,
you want four and a quarter. Okay, that means you
seven hundred is going to go up to seven forty two.
Even with the higher rate. You're you're you're in a
better financial position to sell now and buy now versus

(32:15):
waiting if you believe the prices will go up. Waiting
for the prices to go up, even if for interest
rates soften, the difference in value between the two prices
makes the move up better to do now than by waiting.
So hopefully that makes sense. Be back and continuous conversation
after a quick break here on the Duncan Duo Show.
So back here on the Tampa Bay Real Estate Show
with Andrew Duncan, the Duncan Duo team, The Duncan Duo

(32:36):
Show every Sunday at ten at the Duncan Duo and
we aren't on air. I want to talk about commercial
real estate next. Now, I've obviously always positioned this show
being focused on residential real estate because that's what my
team has been focused on. However, we have two agents
on our team that focus one hundred percent on serving
our clients and commercial real estate. So if you have

(32:58):
a commercial real estate need, I want you to understand
that we can help you too. I think right now, well,
we're selling a car wash, we've got a church on
the market, we've got some commercial land, some development opportunities.
If you have a commercial real estate need, we would
love to help you with that too. One of the
things that I, as a commercial real estate investor, loathe
about dealing with commercial real estate agents is that I

(33:20):
can't ever get a response or a phone answered. If
you're a commercial real estate buyer or investor and you
struggle with this, you call and you can't get an answer.
I promise you it is rampant. I'm someone who owns
a lot of real estate. I'm always looking and buying
and asking questions, and man, I feel like whenever I'm
inquiring on commercial real estate, I can't ever get a

(33:42):
question or an answer. We can help with that, I
promise you. My commercial agents are going to answer the phone.
And it's one of the things that's probably made the
most successful and where they've sold multimillion dollar properties is
because the answer to the phone it sounds crazy. I'm
wearing a shirt and we're in a hat. Today in
studios is called the damn leads, and it's the reality
the commercial real estate industry, unfortunately, is rampantly known. If

(34:03):
you're a commercial real estate investor or buyer, you know
you don't get phone calls returned. You know they don't
work weekends. You know they're Mondays through Friday ninety five.
That is not my commercial team. So if you if
you have a commercial need for real estate and you
need some help, call us at eight one three three
five nine eighty nine ninety you can ask for Grant.
Grant runs my commercial division. He'll talk directly with you
and assess your needs and see what it is he

(34:25):
can help you with. There are some types of properties
that will refer you to an outside company just because
they require a different specialty. But Grant has a considerable
amount of experience in a lot of different commercial realms
and he can help you. So he can certainly help
point you in the right direction, and he answers his
phone on weekends and evenings. But just give us a call.
We'll connect you directly with Grant for my commercial division.

(34:48):
And no matter what it is, whether it's a you know,
two hundred unit apartment complex, whether it's land, whether it's
like I mentioned before, a church, a car wash. We
we've done a lot of stuff in the commercial space.
Grant has specifically, and I have Grant doing that because truthfully,
it is it is out of my uh my suit,
my realm of experience as an agent. I'm always buying,

(35:10):
and I look at a lot of commercial opportunities, but
not necessarily from agent perspective. So Grant can definitely hold
down the FOD for you and answer your phone, keep
you updated. Grant at the Duncan Duo dot com or
eight one three three five nine eighty nine ninety. Again
that's eight one three three five nine eighty nine ninety.
We can help you with your commercial real estate needs

(35:31):
and if you are a commercial real estate investor, and
I got to tell you, it's probably one of the
best times I've seen in a long time to find
some great assets right now. You have a lot of
people who had adjustable rate mortgages resetting or that had
you know, interest only for a period of time, balloon payments,
you know, rents not hitting numbers. There are some there

(35:53):
are some great assets right now that we have found,
even some off market type stuff. It's funny, Grant, not
long ago as that is Barber and as Barber told
them about this property and we ended up bringing a
buyer to it. So if you are looking for off
market commercial deals or something specific, we also have an
enormous database, so two hundred thousand people in our database.

(36:13):
We can run AI searches to find who owns commercial
properties in our database, who might have the property that
you're looking for. We've even you know, clients have even said, Hey,
I want to buy that property right there, and we've
made it happen for them. We've found the owner, we've
reached out to them, we've called them. So if you're
a commercial real estate buyer or seller, again, it's something

(36:35):
I don't talk a lot on the show about, but
it is a service that we offer, and I think
the thing that differentiates us obviously experienced track record a
lot of transactions, grants been with me almost a decade,
but it's truly the service level side of things. It's
answering the phone, it's being responsive, it's keeping you updated,
it's doing some of that gritty work that unfortunately I've

(36:58):
learned as someone who's really looking at buying and selling
commercial real estate is a problem. It's it's a problem
in our industry. So and last, but not least. If
you own a home and you want a cash offer,
you just want out. Maybe you're tired, you don't want
to risk the hurricanes. Maybe last year's hurricane season wore
you out. Maybe you're ready to move back up north.
Maybe it's maybe our summers too much, because right now, frankly,

(37:20):
it feels a lot to me. It is hot. It
is really hot. We're not getting any rain. It feels
like the desert. If that's you, Duncan Duo dot com,
we'll give you an instant cash offer for your house.
We'll also let you know what it can sell for retail,
so you know what you're missing out on. You you
can decide selling your house in a cash offer situation
isn't always going to net the most amount of money,
but it's gonna net the most convenience. You're gonna be

(37:42):
able to control terms, You're gonna be able to close
them you want. There's even lease back opportunities, and it's cash.
There's no appraisal, there's no chance of a fall through
on an appraisal or financing. Cash offers are. They're here
to stay. There are a lot of consumers to opt
for that, and we're regularly buying you know home so
and we have an investment group that we bring other

(38:02):
homes to when it doesn't fit for us. So, if
if you're looking for a cash quick clean offer, hit
up Duncan duo dot com, fill out your dress. One
of our team members will reach out and see how
we can help you. And I want to thank you
for tuning in. I hope you have an awesome rest
of your Sunday, Tampa Bay and thanks for tuning in