Duncan Duo 6-30-24

Episode Transcript

(00:00):
Happy Sunday, Tampa Bay. We'rewith you for another week, like we
are every Sunday here at ten amon the Dunkin Duo Real Estate Show.
When we aren't on air, makesure to follow us on all of our
socials we are at the Dunkin DuoTwitter, Instagram, YouTube, Facebook,
and TikTok. Follow us for lotsof real estate related content, funny videos.
Sometimes we recorded some really funny onesthis past week because the challenges in

(00:22):
the real estate market today. It'sa much different real estate market and there's
a lot of changes coming to ourindustry. And so nonetheless, make sure
to pay attention if you want tostay updated on what is going on in
real estate at the Duncan Duo andget your free home value estimate. Look,
if you aren't sure what your homeis worth, you're thinking about selling

(00:43):
it six months from now, ayear from now, or you're ready for
an instant cash offer right now,just go to Dunkin Duo dot com.
The cool thing about our site atdunkin dooo dot com is you plug in
your address, you get a homevalue estimate. You're going to get in
every other week report on what's goingon in your neighborhood, and you actually
also get the human element. Thething that places like Zillo don't have is

(01:04):
that they don't have a human lookingat it. Data can only go so
far in terms of understanding the valueof your home and your features. So
what we do is when you getthe automated value report, just sometimes there's
neighborhoods in Tampa Bay where our valuereport isn't accurate because of the features of
the home or the disparity between thetop end price and the neighborhood and the
bottom end, especially if it's likewaterfront or if there's a school boundary.

(01:27):
So we reach out with the humanelement and say, hey, let us
know the features of your home,let us know the conditions, let us
drill down and update it. Soyou get an automated report, and then
we put the human element into itto make some changes so that you can
make sure to get the most accurateinformation possible. Again, you do that
at DUNCANDUO dot com. So Iwant to talk about interest rates. It

(01:49):
is one of the things that iscontrolling the real estate market right now,
and we're not sure what's going toend up happening. Obviously, we had
a presidential debate this week quite polarizing. We also have a lot of economic
data coming out, but we didsee an incremental decline with rates recently,
where it's dipped below seven percent.We're seeing the high sixes. A lot

(02:10):
of people are predicting that if weget into the fives that we'll see another
surge in our real estate market.However, we've already seen a surge.
In May in Tampa we had overfour thousand sales and that is the first
time that we've had four thousand salesin a month in almost three years.

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So our market is still very healthy. There's still a lot of transactions,
there's still a lot of activity,but it is some concentrated in certain price
points and some in other parts oftown. There are areas of Tampa Bay
that are that are light, thatare struggling, that don't have a lot
of activity, and then there areareas to Tampa Bay that are doing great.
So Duncan Duo dot com will keepyou updated on what's going on in

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your neighborhood. But our market isin a really healthy place. We're kind
of outpacing some other areas. Ithink a lot of economists and real estate
experts did not predict us to havefour thousand sales in May. It'll be
interesting to see what the next coupleof months show during our peak summer months,
because four thousand is a strong month. It's a month we haven't seen

(03:14):
in a while, and we neededit because we started to see inventory rise.
And I think the reason sales arehigher is because we have seen a
little bit more of an inventory riseand buyers now have more choice and opportunity
than they've had in a while.And I think we're starting to sync into
this new norm of interest rates inthe sixes. So people that have been
waiting around and not sure what theywant to do and shocked stick or shocked

(03:35):
to go from two or three percentto six or seven. Now it's starting
to sink in and enough time haspassed between two and three that you know
that people today aren't as aren't asbrainwashed to not act because of the difference
between the rates. So that's prettymuch what we're seeing in the real estate
market. We will see a surgeonprice and in sales as well if we

(03:57):
see interest rates drop anywhere near thefive. So the FED has some upcoming
meetings. There is some discussion ofsome adjustments. It depends on inflation data,
and it also depends on a lotof what happens politically, So we'll
wait and see what happens with interustrates. But it is really good news
to know that we had over fourthousand sales in Tampa. So I was
interviewed on ABC Action News this week. They reached out to me a lot

(04:23):
of the TV and media stations justbecause my exposure through media and having run
a top real estate team for aslong as I have, They reach out
whenever they want to talk about somethingor ask questions about things going on in
real estate. And it's why realestate is so local. You can say
the real estate market is doing this, but it won't necessarily apply to commercial

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market or the condo market, orspecific niches or price points. We give
these general statements about real estate.And you even have the same thing with
like CNBC with t and with Newswith CNN, with Fox News. You
have all of these media organizations thatconsistently put out real estate related content,
and the obstacle is that a lotof the time they aren't accurate. They're

(05:08):
not accurate because they're you know,they're they're they're just giving national data.
They're talking about what is going onnationally and what's going on locally maybe entirely
different. So with that being said, I was interviewed by ABC Action News
about the condo market, and Iwant to tell you that the condo market

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is is its own market in asense right now. I kind of want
to compare it if you if youpay attention to the stock market at all,
You've got the NASDAC, You've gotthe Dow, You've got Blue Chips,
you've got the Russell List. Youhave all these different lists that kind
of categorize stocks, and you cansay the stock market is up one day
because the Dow's up, but theNASDAC maybe down. So so when you

(05:51):
get more specialized about a specific assetclass, you see things that are different
than maybe the asset class as awhole. And that's exactly what's going on
in our condo market right now.We have seen a doubling of the inventory
in our condo market in the lastyear. We've seen a drop in sales,

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and we've seen some reductions in price. And here is why. Because
the you know, many of youprobably remember the condo building collapsing in South
Florida and the chaos that ensued fromthat, and the governmental response from that
has been to put more construction requirementsin place for condo buildings so that those

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condo buildings don't repeat what happened withthat specific building. So that's caused that's
caused insurance and condo insurance arise andcondos to have a lot of special assessments
now new condos and super high endluxury condos, it really doesn't affect them
the same way. If someone ownsa five million dollar condo and they get

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hit with a twenty thousand dollars afifty thousand dollars assessment, it's probably not
changing in their world much. However, if someone owns a five hundred thousand
dollars condo and they get with thetwenty thousand or fifty thousand dollars special assessment
to upgrade that community to new standards, that's going to be a problem.
So what's happening in our condo marketright now is you're seeing people get a
hit with these assessments or having theHOA fees rise because the insurance increase over

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the new regulatory code changes to preventa repeat of what happened, And so
what has happened is a lot ofpeople in condos are now starting to see
them as unaffordable. Now they're gettinghit with these numbers. They're saying,
I can't afford it, I can'tafford to stay here, or I can't
afford the assessment, or I justdon't want to be here for when the

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assessment comes. So there are peopleexiting condos to get out of that.
The obstacle with that is that cansometimes poison the entire asset class and think
it relates to every condo they're Inreality, there's a very small segment of
the population of condo owners that's affecting. But the people that are being affected
are being affected a lot. Sonewer condos they're built to new standards.

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Luxury condo it's not really impacting themthe same way. So if you're thinking
about buying a luxury condo, oryou own a luxury condo and you're worried
about the insurance regulations or the enormousspecial assessment, if it's been built in
the last few years, it's alreadybuilt to standards that it's very unlikely that
these regulations are going to change it'sreally more hitting older buildings, and frankly,
it's hitting people that don't have thefinancial resources. So that's why you're

(08:22):
seeing our condo market right now notbe as healthy as our single family market.
It's taken a little bit longer tosell. Condos are sitting longer,
you're seeing more inventory, and it'sbecause twofold one the stigma being attached to
condos by the news organizations and consumerssaying, oh, I don't want to
buy a condo right now because allthis stuff going on, even though the
majority of condos are not impacted andthe majority of price ranges aren't impacted.

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And you also have the other sideof it with consumers that live in those
buildings. They're worried it's going tohappen to them, even though it won't
likely. And then of course thesmaller segment of the population are getting hit
with special assessments and are getting hitwith increases in HOA fees because of insurance.
So, like most things, whenyou get into markets, if you

(09:07):
look at the stock market today,there are companies that have skyrocketing stocks that
don't make money, or that aresimply bought on emotion or some news thing
that happens makes the stock more desirableby people. The meme stocks and game
Stop, for example, some ofthese stocks that happen like that are great
examples of it. And I thinkwhat's happening in our condo market right now

(09:28):
is a lot of being blown outof proportion, a lot of overreaction because
again, I had multiple people ona condo that we have on the market
over two million dollars say that they'rescared to buy a condo right now because
all the changes, when in reality, a brand new, luxury, multimillion
dollar condo that was just built isbuilt to super high construction standards and it's
just not going to have the samekind of impact. But the fear is

(09:52):
what motivates people. The fear thatthis change could affect their value, or
the fear that they're going to gethit with an assessment, or the fear
that they're going to buy the condoin a couple of years from now,
they're going to have an assessment,or there's going to be another change.
It's going to make it more risky. So it's not just the reality of
the situation that is affecting our condomarket, but it's also the emotional or

(10:16):
the perception that it's impacting more peoplethan it is. I kind of relate
it to I have an agent rightnow that is moving here from Canada,
and this particular person when they firststarted, you know, talking about the
path and researching and deciding whether tomove here, said hey, well what

(10:39):
about the hurricanes. I feel likethey happen all the time. The reason
they feel like it happens all thetime is because the media in Canada puts
the hurricane on the news, butthey don't put sunshine and rainbow on the
news. So their perception is thatthese things happen all the time. And
it's the same thing when the newstalks about something of perception is it impacts
the larger people than it does,or that that specific thing is the norm

(11:00):
and it's the rarity, simply becausethe news is not going to talk about
all the great things in the condomarket, or the drops in insurance or
the drops in HOA fees and someof the higher end buildings just because it
doesn't sell like negativity does. Soif you're in the condo market thinking about
buying, dive deep, dive deepinto the hoa and the condo docs,

(11:20):
dive deep into what's going on,dive deep into the research, into due
diligence about what kind of position thebuilding is in from a construction standpoint with
these new regulations, and I thinkyou'll find more often than not that the
building is in great shape, thefinancials are fined, and there's no special
assessment coming. So hopefully that's greatnews for you. On an update of
the condo market, if you wantto know the value of your condo,

(11:41):
just go to Dunkin duo dot com. We'll get you a value estimate.
We'll let you know what's going onin your condo community, what the sales
are, what the actives are,and we'll keep you updated as time goes
on so that you can stay upto date on what's going on with the
value of your condo. And we'remore than happy if you're concerned about whether
or not one of these situations isgoing to rise in your condo, we
can certainly look at things and helpyou determine that, and we can do

(12:05):
that for you at duncan duo dotcom. So again we're gonna be back.
We're going to continue our conversation aboutthe Tampa Bay real estate market.
After a quick break here on theDuncan Duo Show. So back here on
the Duncan Duo Show talking about theTampa Bay real estate market, and I
want to talk about how funny themedia can be and how confusing it can

(12:26):
be. Tampa had a record monthfor home sales in May four thousand,
the first the first four thousand salemonth in several years. Our real estate
market is doing great. We continueto attract population. But I saw an
article this week that said the sevenworst states to buy a home in,
and I was amazed that Florida wasright there at the top of the list.

(12:52):
But it's interesting because a lot ofpeople from New York are moving here.
But of course New York media doesn'twant people to move to Florida,
so we're gonna make it see really, really bad. And again, there
are some obstacles with Florida real estate. But the premise that our real estate
market isn't healthier, we're one ofthe worst states to buy in, I
think is probably focused on the wrongthings, because if that were the case,

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we would not be gaining population andwe'd have a lot more people leaving
our state than we do. Soalways make sure that when you look at
media, you have to understand,specifically when it comes to real estate,
how biased it can be, howintentionally biased it can be towards specific things

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happening in the world, and howstates compete against each other. You know,
the states that don't want people toleave, and then the states that
are attracting people make it really interestingfor people right now. So the twenty
real estate markets, though with thelowest reels, are dot Come Hotness score

(14:01):
from May. I thought this wasreally funny because they use this supply demand
and hotness score to try and determinelike how the markets are. But then
the statistics completely made this irrelevant becauseTampa they put in this market is saying
we're going to be cold, butthen we have four thousand sales in May.
It just doesn't make statistical sense.I feel like so much of the

(14:22):
real estate data that gets put outtoday is based on like surveys or uneducated
people or non real estate people thatjust don't know what they're talking about.
Because the statistics what the market isactually telling us, the number of sales
that are actually happening, what ishappening with prices don't trend to our market
being in a negative position. Wehave appreciation now, is it as much

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as it was a few years ago. No, Three or four percentage points
is where we're at. We alsohave rising home sales both month over month
and year over year. We wereup I believe eight percent year over year
and we were up twenty I thinksomewhere you're twenty percent month over month.
So we have rising home sales inTampa Bay. Not exactly the market that

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the media from states that are losingpopulation to us want you to perceive that
we have. So again, justtake take the news with a grain of
salt when it comes to real estateand know that it isn't always what you
think. So again, you're listenedto Duncan Duo Real Estate Show when we
aren't on airfoll us on all ofour socials. We are at the Duncan

(15:28):
Duo. Twitter, Instagram, YouTube, TikTok, and Facebook and so much
more at the Duncan Duo. Wheneverwe aren't on air, I was out
showing homes. We did a quickvideo on this not long ago. But
I was out showing homes above twomillion dollars and working with a client that's
a friend of mine. That's lookingto buy a high end home. And

(15:52):
I was amazed at how many ofthe homes that I showed above two million
dollars were by iPhones, not hiringa professional. That real estate agent is
going to make tens of thousands ofdollars in commission, and they're using iPhone
photos. A couple of years agothat might have worked, but today you're
missing out on so many opportunities.When you hire the real estate agent that

(16:17):
is going to sell your house,if they don't have a budget to invest
or, they really need your check, and they're not going to invest in
a way to make the property lookthe best that possibly can. You were
absolutely behind the eight ball and youwere going to lose money because you hired
someone that skimped. I was amazedtwo and three million dollar houses that had
absolutely terrible photos. Those homes lookedso much better in person than they did

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in photos, and so often thoseshowings of those people that see the photos
don't end up happening. I wasable to look past them for my client,
and you ended up finding a housethat looked amazing in person that had
absolutely atrocious photos. So when you'reselling luxury real estate, who you hire
matters, and it just makes abig difference. If you're not vetting the

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person to see the marketing, ifyou're not googling and seeing that they got
a ton of reviews, that theyhave a marketing budget, that they're advertising
and marketing their business. If they'renot advertising and marketing their business, they
don't have money to advertise and marketyour house. Okay, that's just the
reality. If they're an advertiser marketer, they're advertising, marketing their business,
and they're going to think of yourhouse as a business just like their own

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business. So if they don't havethat, you're missing out dramatically on the
opportunity to get the best price ata quick sale on your property. So
make sure that you're hiring an advertiserthat understands marketing, high end photography,
drone footage, matterport, three Dtours, video content. If they're not
doing that, then you're missing outas a home seller. So again you're

(17:47):
listening to Duck into a real estateshow. We're going to continue this conversation.
I want to talk to all thepeople out there that are thinking about
getting into real estate or they're inreal estate now and not thriving. I'm
going to talk to you guys nowbecause there's something I want to share with
you that should help you understand whatkind of change you need to make with
the market that's coming right now.So if you are a real estate agent

(18:08):
or no real estate agent, sharethis next segment with them and we'll be
back after a quick break here onthe Duncan Duo Show. So back here
on the Duncan Duo Show talking aboutthe Tampa Bay real estate market, and
I want to talk about the transformationalchange that's about to happen to real estate.
We have had this real estate marketfor you for a long time where

(18:30):
the industry operates with a lot ofnorms. One of those norms is that
real estate agents have their commission whenthey're representing a buyer protected by the MLS.
And it appears, in lieu ofsome massive change in the court process
that that is going to go intoplace in August, so real estate agents
will now have to negotiate their commissionswith sellers and with buyers in order to

(18:56):
be compensated versus the MLS offering acompensation say and hey, here's what you're
getting paid now. Some people believereal estate agents that are really good will
get raises. Some believe that alot of real estate agents will x the
industry. Here's what I'm here totell you that I know as fact,
there will be a lot of agentsthat will fail to evolve because they're so
afraid of change. Way too manyreal estate agents are stuck in the past,

(19:18):
and they keep wanting that used tobe to come back around again.
They want twenty seventeen and eighteen andtwenty twenty to come back again, and
it's not coming back, so theyhave a hard time pivoting. The same
thing happened when I was in businessback during the short sale and foreclosure crisis.
The market massively transformed and change,and what it created was an incredible

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opportunity for great Salespeople who didn't havethe formed bad habits of the past were
willing to grind and do the workand earn what they're worth and grow an
incredible business. That's the opportunity thatI think is in front of real estate
agents right now. There are goingto be so many they're going to fail
to pivot. They're going to endup bleeding and get bleeding out and getting
out, and there's a great opportunityto pivot and change right now. If

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you are newer to the industry orif you are somebody thinking about getting into
real estate, the time is now. And the reason the time is now
is because if you want to grindand you're a savage, you were going
to go out there and absolutely crushit and you were going to do incredible
things because way too many real estateagents are stuck in they used to be.

(20:26):
They want things to go back towhere they used to. They don't
want to have to work. Theyjust want checks to show up in the
mail. They want to just mailit in and make one phone call and
sell a house, and that hasgone. If you're willing to work and
be a savage, you were goingto outwork most real estate agents today if
you have sales experience, and Iwant to talk to you if that's the
case. I had an agent thatmade over fifty thousand dollars this month alone,

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and if you're not making that,you need to be somewhere that gives
you that opportunity. And that's whatwe have on our team, the opportunity
to make a massive amount of moneyhave a massive impact. But you got
to be willing to do the work. You got to be willing to grind,
You got to be a savage.So joindduo dot com. You can
register for our Career Night. Youcan learn about LPT Realty. You can
learn about our team and how ouragents have the ability to make hundreds of

(21:12):
thousands of dollars. How we haveagents that make fifty grand in a month
because they plug in, they learn, and they do the work. And
that's what I'm looking for. Soif that's you, if you're somebody thinking
about getting into real estate, oryou're new to the industry and you don't
have the bad form habits, becauseif you have the bad form habits,
if you're if you're an agent intwenty twenty one and you want that to
go back, you want to goback to that lifestyle, and you think

(21:33):
you're going to be able to putforth that work ethic to make the money
you made, then you're you're gonnaget crushed. Okay, But if you
want to grind and you want towork, I want you again. Jointduo
dot com. You can apply forany of our open positions. You can
register for our Career Night. Ifyou apply, make it clear you want
to grind, you want to dothe work, and I promise you just
like I did. That's when mybusiness grew fifty plus percent a year.

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It's because I knew that I hadthe work ethic and habits to grow it
and do the things that other agentsdidn't want to do, the kind of
grind stuff right, And that's exactlywhat we'll get you to another level today.
And that's what I'm looking for.So if you want to make fifty
grand in the month, you wantto make forty three thousand dollars on one
transaction, which one of my agentsdid this month, again, go to

(22:17):
join the duo dot com, applyfor any one of our open positions,
register for our career night, andlearn more about what we have to offer.
Again, you can do that atJointhduo dot com. Speaking of that
and the industry changes. Because ofthis transformational change that's happening right now,
real estate companies, a lot ofthem are ill prepared for it. They're

(22:41):
not making the necessary changes, they'renot having the necessary preparation. And that's
why in my business, I'm makingchanges to get us ahead of that and
get us in front of it.And I think a few months from now
there are going to be a lotof real estate leaders who are going to
lose people because they didn't get aheadof this, or they thought it wouldn't
be as big of a deal,or they didn't train for it. So
we do buyer broken presentation training everysingle week. We do listing agent presentation

(23:03):
training every week. We have anexcellent onboarding and training program and CRM and
a structure where we want you tobe successful. So we're going to hold
you accountable to standards to help youaccomplish your own goals. So the standards
are things that you set or notthat we set. You set, what
your goal is, we just helpyou accomplish that goal. So again,
if that's you joined the duo dotcom, we'd love the opportunity to talk

(23:26):
to you, and you can dothat and so much more at joindduo dot
com to learn about what is goingon in real estate. I want to
talk next about the the belief thatour real estate market is going to crash.
And you know, I mentioned thisbriefly on a social media video not

(23:48):
long ago that you know, thethe real estate market was going to crash
and we were going to have somesort of you know, downroard spiral towards
foreclosures, and the reason why thatis a myth. Number one, This
is not fifteen years ago when bankswere willing to loan people money with a

(24:12):
pulse and a paycheck. They justweren't willing to do it. They were
willing to do it. That's notthe case today. Banks have stringent standards.
You have to show money, youhave to show ability to earn.
You're looking at tax returns, you'relooking at income statements. The layer loans
are gone. Number two is fortypercent. Over forty percent of the homes

(24:34):
owned today don't have a mortgage.Okay, they're paid for in cash.
You have lots of people that saidI don't want to pay these rates,
and you have lots of people withcash. There's a lot of cash in
our real estate market. A lotof that cash is coming from institutional investors
in hedge funds. They've bought uplarge amounts of property across the country.

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They're not going to foreclosure. Okay, they don't have mortgages. It's cash,
okay. Over sixty percent of peoplethat do have a mortgage have mortgages
under four percent. Those people cansimply turn around and rent their property for
more than what their mortgage is andget out of it. If they can't

(25:15):
make the payment, there is apath for them to be able to get
the payment made and put money intheir pocket. Because of so many people
that have these low mortgage rates,the number of people at risk of foreclosure
is shrunk dramatically. Another reason whythere are enough qualified buyers, people that
have good incomes of put away cashthat can buy property that aren't cash okay,

(25:38):
So the number of the amount ofcash that's out there and then the
number of people that are qualified basicallymakes it so that the likelihood of foreclosures
is so slim. But next,I want to talk about the real reason
why our market is not going tocrash. And if you're a government conspiracy
theorist, tune in because some peoplewill not necessarily believe what I'm going to

(26:03):
explain to you. But the fixis in the federal government learned from the
last foreclosure crisis that they don't wantto have foreclosures, and the institutional investors
and the banks are all in bedtogether. They don't want foreclosures either because
that devalues the assets that they ownand the assets that they want to buy,
and the assets that they mortgage.So here are a few things that

(26:23):
kind of fix the system in theresidential real estate space, not commercial residential.
Number one for barons, because there'sbeen such a massive equity run up.
So many people have enough equity thatbanks instead of going right to foreclosure
because they know if they foreclose andthey take the property back and they think

(26:44):
only from a standpoint of that propertyand what's best for that property, they
hurt their other assets. They don'twant to foreclose. That is the last
thing that they want to do.So even when people go into arrears,
they don't even pursue foreclosures. Theyjust do a forbearance and they keep kicking
the can down the road because there'senough equity that that person can go years
before they eat it up. Sowhat ends up happening is they just kick

(27:04):
the can down the road, andthe banks know that the equity rows so
much that it's not going to getto a point where the equity is going
to get eaten up by the forbearancebefore the market and interest rates recover and
it starts going up again. Soforbearance allows the banks to kick the can
down the road and almost just eatup the homeowner's equity without actually having to
foreclose. The second reason I mentionedbefore about the banks and the hedge funds

(27:29):
kind of being in cahoots. Soinstead now of somebody a bank and going
in foreclosing on a property, theytrade assets. They say, Hey,
hedge fund or hey other bank,we're going to package up all of these
bad loans to you. You cango out and try and work out a
deal to get the people out ofthe house, or you can simply just
keep for giving them forbearance and kickingthe can down the road. Because they
have such a massive amount of equity, the government knows that if they foreclose,

(27:52):
that's the new comp in the neighborhood. The bank knows that they go
to foreclose, that's the new compin the neighborhood. That pulls the values
down of the other asset that thoseinstitutions own or have an interest in.
Okay, it causes more risk fordefault on the other loans that they have,
and then secondarily, when it dragsvalues down, it eliminates their ability
to loan. They need to loanthe money out to make money. So

(28:15):
the fix is in foreclosures are nevergoing to be what they were before.
Are we going to see foreclosures.Of course, you're still going to have
foreclosures, but you're never going tosee the rampant number of them like we
did before. Because the banks,the government, and the hedge funds know
that it massively depreciates real estate andhas a major impact on our economy.
It just won't happen again. Itjust won't. So the banks control it.

(28:37):
The banks prevented. You'll have aforeclosure here and there, but you
won't see some swath of foreclosures.And that is what dictates a real estate
market crash. That's what drives valuesdown. And the government figured it out.
The only people really at risk forforeclosure, and at this point are
the people that bought in the lastyear or two that have a higher mortgage

(28:59):
rate at seven or eight percent,the majority that is a minority of the
population because of how much cash isin the market, how many qualified buyers
there are, and how many peopleheld onto their homes as low mortgage rates.
So if you think the foreclosure housingmarket crash is coming, I promise
you it's not. And it's notbecause because it's it's protected, it's not
necessarily free market anymore. It's gota little bubble around it that keeps it

(29:22):
safe and sound, so that ourreal estate market continues to chug away.
Whether you agree with it or youdon't agree with it, it's supported by
facts and data that I just reiterated, and it is the place that our
market is going to be now.Again, Does that mean we won't see
some correction in price? Of course? Does that mean we won't see some
foreclosures, of course? Does thatwon't mean we won't see some ups and

(29:42):
downs? Of course it doesn't.What I'm saying is the system now will
prevent a massive crash and a massiveforeclosure crisis and a drop in values and
the domino effect that comes along withthat. The government has basically put things
in place with banks and hedge fundsto prevent that from happening. So readback.
We're going to continue this convers We'vegot one more segment. But when
we aren't on air at the DuncanDuo, Twitter, Instagram, YouTube,

(30:03):
TikTok, and Facebook, we gotcool giveaways. We got lots of neat
stuff happening on our socials, alwaystalking about everything Tampa Bay and everything Tampa
Bay real estate. Again at theDuncan Duo and we'll be back after a
quick break here to talk about theTampa Bay real estate market. In our
last segment after a quick break hereon WFLA News, so back here on
the Dunkin Duo show talking about theTampa Bay real estate market. I was

(30:26):
talking to Perspective real estate agents earlierabout the opportunity to work for a top
team and what that means, andI mentioned having an agent that made over
fifty grand and he had over fortygrand on a deal. Actually, two
agents make over forty thousand dollars amonth. So if you're a salesperson okay
right now in this struggling market,and you didn't make that, or you
don't have the opportunity to make that, if you're not getting those quality of

(30:48):
leads, those high price points,or the opportunities to sell those types of
properties, please reach out to us. Join the duo dot com. I
had two agents this month to makeover forty grand two and both of those
made over forty grand on one transaction. Then they have multiple transactions, so
in reality, it's over fifty.If you don't have that kind of opportunity,

(31:11):
then you may be at the wrongplace. And we can help you
with that again at Join the Duodot com. We're always looking to grow.
We're always hiring agents. I'm alsohelping recruit teams. If you run
a real estate team and you wantme to help you grow your business,
I can help you grow your businessthrough LPT Realty. I can sponsor you
into the company and help provide yousome of the same tools and resources I've

(31:32):
used to build my business. Youcan also set an appointment on my calendar
and reach out to me at JoinedTheduo dot com for that as well.
I know I talked about the condomarket and the obstacles that are in our
condo market right now as it relatesto insurance. Because realistically, real estate

(31:55):
is so local and specific in naturethat you can have single family homes do
great and condos not do is great, or a part of town do great
and another part not do so great. And it's why it's so important for
you to get the most up todate value on your home. The most
up to date value on your homeis not from one of the national websites.
Those websites are geared to capture youas a lead so they can sell
you something either a mortgage or sothey can buy your house, or so

(32:19):
they can sell your lead to arealtor. My website's focus is on giving
you the most accurate data that wecan possibly give you, and to give
you the human interaction and a servicelevel where we look at it and say,
here's where your value is pegged onthe dashboard of data, but here's
the adjustments we've made based on thefeatures and conditions you've told me you have.
So if you go to duncanduo dotcom, it's super easy. You

(32:43):
type in your dress, you followa few prompts, give your email phone
number, We reach out to you. We reach out to you with a
customer service element in mind. Okay, we're reaching out to you because we
want to know what is different aboutyour home. Okay, that adds extra
features or that makes it more valuablethan the online data can provide. So

(33:06):
if you want the most accurate homevalue estimate, just go to Duncan Duo
dot com and type in your address, and that is you know, pretty
much all you have to do.One last tip before we break for this
Sunday show. I want to givea tip to real estate home buyers,
and it's something that I pulled outof the treasure chest from my years of

(33:30):
helping clients recently and an idea Igot from a client that wanted to buy
an Airbnb. If you are buyinga property and you're not one hundred percent
convinced about the neighborhood, ask tostay in it overnight during the inspection period.
A lot of people will be surprisedby that, but it is something

(33:51):
that a lot of sellers will allowyou to do. Higher in real estate,
it's common Airbnbs obviously super common rentalproperties. It can be done now.
Again, if the owner occupies it, maybe it's not as easy,
or if it's occupied by a tenant, maybe it's not as easy. So
you have to pick your spots.But far too often home buyers make mistakes
and buy the wrong home because theydidn't learn what was going on in the

(34:14):
neighborhood at times different than the whenthey look when to look at the property,
they find out that at seven andeight o'clock at night, the neighbors
across the street have parties every weekend, and now they want to sell the
house and they're going to lose money, Or they find out their next door
neighbor you know has something going onin his backyard that they can't tolerate.
Whatever it is, staying in thehouse overnight can give you an opportunity to

(34:36):
determine that. And of course thereare ways that you have to structure that
and financially, you know, aswell as from a time perspective, and
it's not always possible, but itis something that a great buyer agent that's
earning their fee can sometimes ask toallow you the opportunity to really use the
property. I mean, let's faceit, when you buy a car,
do you test drive it? Usually? Right? Sometimes you even go and

(34:58):
rent one on turo to get afeel for the car before you take it
before you buy it. Okay.The same thing can happen with a house,
Okay, especially when there's a lotof money at risk. If you're
buying high end real estate, Iwant to personally help you, and this
is something I will ask. Ifyou're buying a two or three million dollar
house and you want the opportunity tostay overnight in the house, we'll ask
for it. It may not all, we may always get it, but

(35:20):
it's an extra piece of due diligencefor an investment that you're making. That
far too many real estate agents don'task for for the clients, and on
the high end, and with airbnbsand rental properties and homes that you plan
to occupy, there's no reason whysometimes it can't be done. So that
is my tip for today, luxuryhome buyers, Airbnb home buyers, ask
to stay in the property overnight.It'll give you a different perspective than just

(35:43):
driving by that property on a Saturday. And it is something that can be
accomplished during due diligence and the inspectionperiod with the right documentation. So thank
you so much for tuning in.Again, hit up Duncan Duo dot com
for the most accurate home value estimatein Tampa Bay. Again, that is
Duncan Duo dot It's not like dunkinDonuts. Okay, it's Duncan Duo d
u n c A n du odot com. Hopefully you know that by

(36:06):
now. I think I do ownthe domain name where it's spelled wrong.
But nonetheless, Duncan Duo dot comget your whole value estimate. Thanks so
much Tampa Bay for tuning in.Hope you have an awesome Fourth of July
week and we will see you nextSunday to continue our conversation about the Tampa
Bay real estate market. Thanks fortuning in, and have an awesome rest
of your day.