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July 13, 2025 40 mins
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Speaker 1 (00:00):
Happy Sunday, Tampa Bay. We're with you for another week
here on the Duncan Duo Real Estate Show like we
are every Sunday at ten am here on WFLA News
for more than a decade, almost a decade and a
half now, I've had this show spot giving you guys
all the intel and knowledge about what is going on

(00:20):
in Tampa Bay real estate. When I'm not on air,
check us out at the Duncan Duo Twitter, Instagram, YouTube, TikTok, Facebook,
pretty much every social media out there. At the Duncan
Duo putting out relevant real estate videos, knowledge and information
about what is going on in the real estate market.
I want to talk. We've had some recent news. Obviously,

(00:42):
we had a major tax bill pass, the Big Beautiful Bill,
as President Trump calls it. That a lot of major
reform coming for real that will benefit real estate. There
are some extra pieces of legislation that are being promoted
right now regarding limiting paying taxes on home sale profits,

(01:04):
as well as some movement in the state of Florida
regarding property taxes. So all in all, there is a
movement towards improving homeowners financial positions when it comes to
both the tax when you sell and the tax that
you pay every year. So great news for homeowners. I

(01:25):
think good news for the real estate market is that
will likely see some movement a few of those areas.
Do I think that we're going to see a blanket,
you know, a blanket abolishment of property taxes in Florida? No,
I don't do. I think that there's a chance that
we could see some improvement, some reductions, some increased exemptions,

(01:45):
some potential abolishment up to a certain price point. And
for primary owner occupant homes, I do. And similarly, I
could see something happening this year in relation to the
two hundred and fifty and five hundred thousand dollars resent
exemptions on selling your primary residence. Presently, if you sell
your primary residence as a single person and you profit

(02:08):
two hundred and fifty thousand dollars or less, you don't
pay cap gains tax on that, and if you're married,
it's five hundred thousand. Again two out of the last
five years you have to live in. It has to
be your primary residence. So there's some pressure for those
numbers to change or go or go away all together.
I don't see that happening, but I do think there's

(02:28):
a chance that that number could move up because it's
been on the books for about twenty years. Prices of risen,
inflation has changed. It is keeping a lot of homes
off the market. There are a lot of sellers today
saying I don't want to sell my home because I
don't want to pay the taxes on it. And I
don't want to sell my home because my interest rates
high right like, or my interest rate's low and what
it would be high ifi by. So there's a lot

(02:49):
of things holding real estate inventory back and probably artificially
making the real estate market worse than it is. And
so there is some legislation being proposed to try and
in per that. I want to talk next about something
that we saw really pick up during COVID, and it
is the solution. I want to just let you know
this about residential real estate. You're going to see all

(03:12):
the pundits and people talk, oh, the market's going to
do this, or it's going to crash, or inflation this
which is which has reduced considerably, the market's going to tank.
You know, all these things that people are saying because
they look at the past and history and the past
and history says, when we have a an employment issue,
when prices rise too much, when interust rates are too high,

(03:33):
people start to have an inability to afford and then
it's a domino effect towards a crashing real estate market.
That was the example of the Great Recession, the obstacle
and difference today compared to the Great recessions. During the
Great Recession, there was very little mortgage underwriting. There was
very little done to vet, approve and confirm a home
buyer really truly could afford and had the money to

(03:55):
buy the house. There were a lot of liar loans
that were there were just it was just rampant fraud
as well as the system. Because appreciation with so much,
the system got really laxed and just wanted to create
more loans because that's how banks make money. Well, they
learned their lesson because of how bad the Great Recession
was and a lot of the mortgage lenders made major
reforms to their underwriting standards as well as the Fanny

(04:19):
May Freddie mac Fha and VA. So today it's a
completely different scenario with how people are able to qualify
for a home, how many homes someone can qualify for
what you have to do in terms of proving income
depending on your credit score. It is a lot harder
to get a mortgage today, which means that that protects

(04:39):
the default rate. The default rate and foreclosures are what
kill a real estate market. So it's not really the
economy or employment or interest rates. Okay, it is foreclosures
because here's what happens with a foreclosure. A bank takes
a property back, and then it becomes the low comp

(05:00):
for the neighborhood. And then you have a domino effect,
banks undercutting each other, a neighborhood losing massive value very
quickly while banks try and deploy and get rid of
their assets. Well, the financial game completely changed during COVID,
and this is why our real estate market will never
see a crash like it saw during the Great Recession. Ever, again,
we've already seen commercial real estate markets get throttled. We've

(05:21):
seen stock markets get throttled, but residential real estate has
like a little safety bubble over it. Okay, the FED,
the federal government, not the Fed Reserve, the federal government,
the mortgage lenders, the mortgage investors all learn their lesson.
So they said, okay, now that we have changed our
underwriting standards. What can we do to try and keep

(05:42):
people in homes. We had historic increases in appreciation for
a several year period through COVID, and the majority of
homeowners out there, even if they struggle making their payments,
are not being sent to foreclosure because they have a
lot of equity. The banks don't want to own real estate. Okay,
if you've ever experienced buying or selling or dealing with

(06:04):
banks when it comes to residential real estate, whether it's
a short sale or foreclosure, it's not real smooth. They're
not set up to handle it. They're set up to
loan money and to manage money, not properties. So now
you had this inter hedge fund bank network where they
trade bad assets to keep them from going to foreclosure,

(06:26):
and then having that low you know, that low component
neighborhood pull everything down, which turns into a domino effect
and causes other homes not to be able to sell
and then not to be able to loan. So now
they don't do that, the homes don't go to foreclosure.
Very often, it's very rare. Banks will partner with hedge funds.
They'll sell bulk deals to hedge funds. The hedge funds
won't report the actual price of that unit because they'll

(06:48):
eat it differently, and then you don't ever you don't
ever really see it, So then regular retail prices don't
ever get pulled down. So the bank's learned, the investors learned,
and now there's way more cash and Wall Street money
in real estate purchasing than there ever has been. They're enormous.
Hedge funds the own way more real estate than they

(07:10):
ever have that don't have traditional mortgages on them. So
because of the number of professional, you know, national corporate
hedge fund landlords that are out there, the idea that
homes are going to go into foreclosure and then pass
to an individual investor in a foreclosure auction is just gone.
It's not that it doesn't happen, it is just really

(07:33):
really rare. It's why we don't see a lot of foreclosures.
So the FED, the banks, the institutions all figured it out.
They keep a protective bubble around real estate. They intertrade
the assets so they don't turn into foreclosures and become
the low comp so that they can keep loaning money,
and so that you keep a bubble around real estate values,

(07:53):
especially with these enormous hedge funds the own the majority
of the real estate in the country. So the fix
is in the other thing that fixes our residential real
estate market from having a crash, and again having a
crash from an economic reason. Our real estate market suffered
from the hurricanes. Of course, that could certainly cause our

(08:13):
market to suffer for a period of time, but not
necessarily a crash, not like a national crash. It would
be a very hyper local, you know, downturn like we experience.
The other tool that the banks and investors use is
called a forbearance. What the bank does is they reach
out to homeowners or homeowners reach out to them and say, hey,
I'm having I'm struggling making my payments. Okay. The bank

(08:36):
then says, okay, while you get your stuff together, all right,
while you get re employed or handle whatever setback you've had,
because you have enough equity, we're just going to take
And the majority of consumers have plenty of equity. We've
been so long since we had the foreclosure crisis, that
equity is way up. The only consumers that are really

(08:57):
running into challenges where they could turn into you know,
distressed properties sold on a retail setting. People have bought
maybe the last couple of years, and then are forced
to sell or have to move and don't have money.
So again, are there short sales, yes, are the foreclosures yes?
Is it going to be anywhere near the plethora that
we saw in the Great Recession? No, So the real

(09:17):
estate market is protected. That consumer goes out and the
lender says, you know what, we're gonna let you miss
six months of payments. We're just gonna add it on
to the end because you have so much equity, and
then they get re employed. Well, they didn't have this before.
So before when you got behind you, you know, it
turned into a distress property. The bank would start foreclosure proceedings.
The bank would eat up a bunch of legal fees

(09:38):
now forbearance as well as the massive number of financial
institutions that are partnered up and connected to banks and
have relationships to be able to buy the homes in
bulk before they ever turn into a foreclosure. It's a start.
Contrast to the two thousand and eight financial crisis, mortgage
forebearance wasn't readily available. You didn't have the same equity
run up that you have today, and you serve didn't

(10:00):
have an economy like today where people can get re
employed and catch up, and you didn't have the number
of enormous billion dollar financial institutions that were buying real
estate and becoming landlords all over the country. So if
you have fear that the real estate market is going
to crash, and you're gonna wait till it does, you're
gonna wait a long time because it's not going to

(10:22):
crash nationally again, it's just not going to there's so
many protections in place. Other markets could crash. Commercial real
estate could have problems like it has the last years,
where residential real estate is not going to see a crash. Well,
you see price to drop, we see if you're home sales, sure,
but you're not going to see these years where you
see twenty thirty forty percent depreciation like we saw during

(10:44):
a great recession in certain neighborhoods. Because the fix is in.
They figured it out, they know how to put this
protective bubble. They know how to use the equity. The
banks don't want the properties back, they don't want a foreclose.
They'd much rather issue a forebearance for people that have equity,
give them a chance to kind of get back on
their keep them in the home so that the market
is protected, so that they're they're holdings in real estate

(11:07):
stay safe so that they can keep loaning on real
estate and not have major guideline changes, so that they
can keep a protective bubble around around home values. So,
again to summarize, our market's not going to crash. Forbearance
protects it. The hedge funds protect it. The amount of
cash and the market protects it. And the enormous equity
run up that we had puts most people in a

(11:30):
position where they have enough equity to sell and still
profit if they absolutely were forced to sell. So I
hear a lot of naysayers all the market's crashing and
all these indicators of this default and that default, and
it doesn't matter. It's fixed, like they figured it out.
It's not pure capitalism in residential real estate anymore. It's
a controlled capitalism. There's a protective bubble lover. So hopefully

(11:52):
it helps you understand kind of the status of our
real estate market. We are seeing fewer home sales, we
have seen property property values drop a little bit, but
we're not going to see a crash. It's just crash
has to have forclosures, and we won't have them. They
just won't happen. So hopefully that makes sense. We're gonna
be back on the other side continuing this conversation after
quick break, here on the dunk and do a real
estate show. So back here on the dunk and do

(12:13):
a real estate show talking about Tampa Bay real estate.
What do I want to talk about next? Is a
really uncomfortable part of the real estate market, and it's
helping people sell real estate during divorce. There is a
lot of misnomers and misunderstandings about how real estate is
controlled in a divorce in Florida and how the real

(12:34):
estate broker has to work with both parties if they
are both parties to the house or occupied and un title.
Because we see it a lot where a one spouse
will call us and say, hey, we want to sell
the house. Well the other spouse is on title. Well
we got divorced. They need to sign or we need something.
And there's a lot of attorneys that help people get
divorced and then don't tie up all those loose ends

(12:57):
to effectively make sure that that party has full authority
to sign. So in reality, the way it works typically
is anyone that's listened on title needs to sign. They
need to approve and authorize the sale. If one party
directs us after they've signed that we can communicate with
one over the other. But what we get stuck in

(13:19):
the middle of a lot is the two spouses who
can't get along. There's a reason they're getting divorced. They
don't like each other, and we're stuck in the middle
having to serve both of them, which we have to do.
We you know, we cannot work with one party over
the other. We have to work with the you know,

(13:39):
the husband, just like we have to work with a wife.
We have to communicate with them. We have to try
and represent both of them, and so it puts us
in this obviously difficult position sometimes because we're in the
middle of a contentious situation between a couple that's divorcing.
But the reality is an anytime there's a divorce or
even just a dispute about a property where there's more
than one person title, all of those people are being represented.

(14:02):
All those people have to agree and sign off on
any changes. One party can't say, hey, lower the price
without the other party agreeing again in lieu of us
being provided some sort of legal agreement or court document
that authorizes one party over the other. But we see
it happen a lot. Well, oh no, he's okay with it.
He's okay if I sign, he's okay if I list
the house. It doesn't matter, you know. Or you know,

(14:24):
I'm in this house with my mom, but she doesn't
need to know about it. You know, those things just
unfortunately pop up all the time. And so what I
can tell you is someone who has gone through divorce.
When you're selling assets and you're going through divorce, the
tough part for the spouse is to kind of try
and stay amicable because there's a reason they're getting divorced.
So you've got this this challenge where two people have

(14:47):
to get along to accomplish something that clearly can't get along.
And a lot of times it turns into things that
homeowners that are divorcing make mistakes on because they're mad
at their spouse. You know, well, I don't want to
agree to that because he wanted to do it, or
I don't want to agree to it because she wanted
to do it, And so we get stuck in the
middle with sometimes trying to make a good piece of

(15:09):
advice to one of the spouses, and then the fact
that one spouse agrees to it, the other doesn't simply
because the one spouse agree to it, even though it's
the right call. So what I would tell you is
do your best to set aside the emotions of your
divorce and think of owning real estate during divorce or
post divorce as a business decision that is now a

(15:30):
business partner. Stop thinking about them as the emotional person
that mess you up. This is a business decision. You
have a business partner that now you need to work
with to put more money in your pocket. I cannot
tell you the number of times I've seen divorcing couples
screw up, lose money, waste money, not get their home sold,

(15:51):
eat a bunch of money because they're feuding and disagreeing
just to disagree. They're not disagreeing because it's the right call.
They're disagreeing because they're they're angry. So, you know, the
best advice I can give couples that are going through this,
because we deal with it a lot, is think of
the house as a as a as a business, as
a as a means to generate revenue for you separate

(16:14):
the breakdown of your family, Separate whatever emotion you can
from it, and do everything you can to try and
make the best business decision you can. The other thing
that I see happen way too often is the sale
gets prolonged because two people can't get on the same
page because they're just used to fighting. And as the
sale gets prolonged, guess what that means. You got to

(16:34):
continue to be in communication with and deal with the
person that you don't want to be with anymore. So
I'm a strong believer that if you're divorcing and selling
real estate, price it aggressively so that you can you
can rip the band aid off, get it done, don't
let it dwell for months and months and months by
overpricing it. Then you've got to continue to stay in
relationship with someone that you clearly don't want to be

(16:56):
in relationship with. And if you're a real estate agent,
you know exactly what I'm talking about. You've dealt with it.
You've been the mediator, the therapist, you know, the friend,
the you know, the sounding board for couples that are divorcing,
and you've got stuck in the middle of it, trying
to navigate them to make a good financial decision as

(17:18):
well as a good decision for their family and a
good decision for themselves personally. The longer you fight through
the sale of the real estate, the longer you have
to continue dealing with the person that you clearly want
to get separated from. So I'll ask people sometimes like, hey,
what does this really worth to you? Like, is it
worth your piece? How much is your piece worth? If
you don't want to have to deal with this person anymore,

(17:38):
then why are you arguing about what can be done
to move the property quicker. So I'm a strong believer
that you know, if you have a partnership that is
broken down, if you have two people on title that
don't agree anymore, if you have two people that are divorcing,
man rip that band aid off and do everything you
can to sell the property quickly. We have a lot

(17:59):
of experience at it, done it a lot. It's a
challenging transaction, but it's one that just unfortunately, over and
over again, we get into rough patches with because the
two sellers can't get on the same page and fight
over everything, and it prevents us from being able to
do the job to help them sever that piece and

(18:20):
move on. So anyway you're listening to Duncan do a
real estate show on WFLA News when we aren't on
air at the Duncan Duo, Twitter, Instagram, YouTube and TikTok.
If you're a real estate agent and I just want
to tell you, this is not this is not the
real estate market. If you want to be a part
time you know, do a deal here and there, not
really work, have money rain from the sky, that was COVID,

(18:42):
that was Unicorn, fairy Tale, Fantasy LA and it's over.
But if you're a real estate agent wants to work,
we have an enormous database still doing a ton of marketing,
just like you're hearing me now. We're on billboards, radio, TV,
We've got a massive reach on Google. We are looking
for agents that want to work. I think now is
probably one of the best times to make a real
estate change in terms of your brokera to your team

(19:04):
or becoming an agent, simply because you will have a
solid base of fundamentals. People that got into real estate
during the run up have bad habits. They were able
to be successful during a time when anyone could have been.
If you can understand real estate is a career, not
a job. Getting into the business now or making those

(19:24):
changes now will set you up for future success, to
be able to ride through the ups and downs of
the market and when the market is up to do
even better. So we are hiring right now. Join the
duo dot com. You can set up a private consultation
with us, you can attend our career night, and so
much more. Apply for any of the open positions, set
up a coundly appointment one on one at Jointhduo dot

(19:46):
com and I'll be back continue this conversation after a
quick break here on the Duncan Duo Real Estate Show.
So back here on the Duncan Duo Show talking about
the Tampa Bay real estate market. And what are the
tactics that I'm using. And this is Andrew Can with
the Dunkin do a team at LPT Realty. One of
the tactics that my team is using today that there's
a lot of real estate agents giving people bad advice

(20:08):
about and it's refreshing, rebranding, you know, and and sprucing
up your home listing. So if you have a property
that has not sold, okay, so let's just say, for example,
you've got a property that has sat on the market.

(20:29):
It is you know, it is languished. It is not
moving the way that it should. Okay, it it for
whatever reason. Okay, this can be it was over priced
from the jump. This can be that it's uh, you know,
had bad photos, bad description, it was a bad weather day,
whatever it is. Okay. What I want to tell you

(20:51):
is that your property can still be sold. It just
might take a different approach. So sometimes things that we
would want to do to spruce up a listing would be,
you know, refreshing the photos, taking new photos. This is
a parent during holiday season where you might have holiday
decorations and you've got to redo them. New photos, updating

(21:14):
the description are big ones. Obviously, price corrections. Price corrections
to put the property at the top of the list again,
and you have the ability at that point get to
attract a consumer that may have missed you. You have
the ability at that point to say, hey, guess what,
mister seller, we're motivated. We've made a move in our price.

(21:34):
Putting that you're motivated without addressing your price, Like I
see that all the time in descriptions seller motivated, everybody's motivating.
You look desperate. You put that in it's not doing
anything telling people that you're motivated. Guess what, anyone selling
their home right now in this market is motivated. Okay,
you don't need to put it out there. You know
what shows whether someone's motivated or not. Their price and
being one of the best priced homes in the neighborhood,

(21:56):
having the aggressive price, having a price set up to
where it can sell. So price, description, photos all make
a big difference in terms of adjusting and refreshing a property.
But I want to give you some advice here too
for people that take their house off the market. And
this is something I see way too often from customers

(22:18):
that don't understand the importance of the time on market. Okay,
everything changed to social media grew Okay, everything today is
about vanity. I mean, look, people don't even post pictures
of themselves without filters of some kind. Okay, it's vanity based. Okay,

(22:39):
how many likes did I get? There are people that
get upset if they don't get certain number of likes
on their posts. Okay. So my point is is that
there's so much weighing on social gratification and on caring
what people like and think today that it's completely changed
how consumers think about real estate. Back in the day,
if you had a home that was on the market

(23:00):
for one hundred days, people think, oh, that's the market.
It's normal. You know, it takes a little while to sell.
We're still interested in that house. Today, the amount of
days on market before customers think something's wrong and are
not impressed with the home has shrunk dramatically. When it
hits those days on market, consumers start to think, One,
no one else wants this house, so why should I? Okay? Two,

(23:23):
what's wrong with it? Okay? And three they're just gonna
keep lowering the price. So I'm just gonna sit around
and wait. The idea that you can rank, you know,
rack up a bunch of days on market and just
lower your price is flawed. You've got to get the
price right from the beginning, okay, And if you don't,
you missed it. You're just gonna chase and you're gonna
lose money. Oh let's just try it at five hundred

(23:44):
when your house is worth four and a quarter, you're
gonna end up getting less than four in a quarter.
Because here's what happens. The prices are softening. Okay, So
by the time you lower to the price that should
have been three months ago, you're still three months behind.
Now you gotta lower it again, and people won't. They
get so fixated on the asking price that when it's irrelevant. Okay,

(24:05):
the only price that matters is what will consumer pay
for that house. So you have to get right price
rights in the beginning. And if you don't and you chase,
and then you're going, oh, my realtor didn't do this,
or my realtor didn't do that, matters very little. It's
your price. Okay, you're over priced. The market is telling
you that it doesn't approve of your price. If it

(24:27):
was the right price thirty days ago, and it's been
thirty days and you're getting no showings, the market is
now telling you your price isn't right anymore. And realistically,
as much as I can say about how we do
this with marketing and videos and this, that and the other,
the greatest thing a real estate agent can do today
to serve you to get your home sold is to
be as brutally honest as possible about what your home

(24:47):
can sell for. There are a lot of real estate
agents don't know how to do that because it got
into the business during the run up when everything was rising,
and they're just used to telling people what they want
to hear, and if they got the price wrong, in
three months, price are going to go up and they'll
get there. That doesn't happen. Prices aren't rising anymore. Okay,
so there are a lot of real es today as
you's still using that same mo oh yeah, you want
five hundred for or four and fifty thousand dollars house,

(25:07):
Let's give it a go. You put it out there
for five hundred and it sits, and then you lower
to four to seventy five, and then it sits, and
then you lower to four to fifty, which is what
it should have been three or four months ago, and
then it sits, and then you lowder to four twenty five,
and by this point everyone thinks something's wrong with it.
There are a lot of home sellers on the market
that literally need to blow it up and start over.

(25:28):
Take their house off the market, start, get it off
for sixty days so it resets everything, and then go
back on as a new listing with new photos and
new description. When you're just constantly lowering the price, you're
not helping. You're actually hurting in a lot of ways.
Of course, we're going to encourage customers to load the
price if the market hasn't supported it. But the problem

(25:50):
at that point is you're trying to put a band
aid on a bullet hole. You messed up at the beginning.
You didn't listen on price. You overpriced it because you're
used to it being at and you think your home
is the best ever. Look, everybody thinks their home is
the best house in the neighborhother. There's a reason you bought it,
but the mark is telling you it's not. It's why
the no one's brought you a buyer. It's why no

(26:10):
one's bought you, brought you an offer. Okay, so you've
got to get really aggressive with your price. If you
take it off the market and put it right back
on with a new agent, you really didn't do much
because those days on market stay in the system. People
can see that it's that was taken off put right
back on. They can see the old photos and it's
not getting a new fresh crop of customers. Most of

(26:32):
the customers have already seen it. It's the same round
of buyers. Okay. It's like you go to an auction, okay,
And you put something up for auction and and and
then you know it doesn't sell at the auction, and
then an hour later, when it doesn't sell or hit
your number, you put it right back on again with
the same audience of people. It's the same thing. That's

(26:55):
what you're doing. That's why your house isn't selling, because
you didn't get the price right from the beginning. So
there are so many I look at listenings every single
day and I see man that just needs to come
off for sixty days and then go back on again
as a new listing at a lower price, and then
it'll move. There are sometimes where we're giving that advice
to our own clients. It might seem like it's not
the right device because we're going to lose a listing
for sixty days, but the reality is it's the right

(27:16):
thing for the customer. There are so many people out
there that are just lower and lower and lower and
lowering and chasing. They're chasing the market. They're chasing it
down when if they would have priced it at that number,
they would have met more money. If they'd have priced
to aggress it from the beginning instead of chasing it
and speculating and thinking they can get a higher price. Okay,
every single seller that hasn't sold after thirty or sixty days, unless,

(27:40):
of course, look, there are rare circumstances and markets where
it takes longer to sell super high in real estate
land commercial properties. If you have a residential home in
a under million price point in Tampa that's in good
condition and it hasn't sold in thirty or sixty days,
your price is wrong. It's that simp. It's not marketing,

(28:01):
isn't fixing it because it's getting thousands of people looking
at it. It's the price, and it's it's it's no different.
What you have to understand about how getting the price
right at the beginning. Imagine you know Walmart on Black Friday, Okay,
the frenzy of people they're looking to buy stuff at
Walmart or even on Amazon. You got the Prime Day
thing going on. Right, price is what is moving the

(28:25):
needle for those people, and prices in Black Friday and
Prime Day and all that. That's the first few weeks
of your house on the market. Okay, when you miss that,
you missed it. You missed it, and now every customer
is gonna think something's wrong with your house when you
didn't get the price right from the beginning. That's just
the reality of a challenge real estate market. Sunshine, fairy Tale, Unicorn,

(28:45):
fantasy Land is over, weren't a tough real estate market.
If you're going to sell today, you have to get
realistic with your price very quickly, very quickly. You cannot.
You cannot sit out long at a high price. You
got to get right very quickly, or you're losing money
because you're just you're going to follow the same flawed
logic that works in a hot market, the market we've

(29:09):
been in for a long time, and maybe the same
type of market that was in in the last home
or two that you sold. You may not have sold
real estate during a great recesion, you may not ever
owned a home during a great session. But this is
this is them certainly not as drastic. We're not seeing
prices drop as much. We're not seeing enormous amounts of forclosures,
but you are seeing prices soften in a lot of neighborhoods.

(29:31):
You are seeing fewer sales and more inventory because people
don't want to pay the higher rate to go out
and buy, and they don't want to pay the tax
un sales or home so they're holding on. So the
point I'm making is price matters more than it ever has.
Consumers have to be knocked off the fence. They can
see the data, they know the hangover that we have

(29:51):
from the hurricane, they can see the statistics, they can
see the prices. Okay, if you're going to sell your
home today, you have to be very aggressive with your price.
Your home hasn't sold and you're eating up days on market.
Take it off the market, give it sixty days, and
go back on as a new listing. That is the
only thing that's going to matter in terms of moving

(30:12):
your you know, in terms of moving your you know,
your house off the market. It absolutely has to be
priced right. You're not in a market where you can
gamble with that. You're just not because, like I said,
by the time you get to the right price, it's
too late. And then by the time you get to
that rice. What I am a proponent of a proponent,

(30:33):
not an opponent. What I am a proponent of is
aggressive pricing from the jump, pricing it slightly below market
to get the buyers to chase. You make your home
a seller's market. Okay, So if your house is worth
four fifty and you price it at four and a quarter,

(30:54):
it may get a bitting war and sell a lot
closer to four to fifty than it would if you'd
listened at four to fifty, and certainly more then if
you listen at four seventy five or five hundred, which
just flawed, old school, stupid logic that just doesn't work.
Lower the price to a number that will get people
to chase your house. Create a seller's market for your house.
Meet your house, the market, the economy for your home

(31:15):
like it was during you know, the run up during
during the COVID years when prices are a rising. Because
you're now looking like a great deal, buyers have to
be knocked off the fence today. If they're not knocked
off the fence, they keep sitting on it. So again,
if you're taught, if your house has come off the
market and you're talking to an agent that's telling you
to get it right back on, they're desperate for a

(31:36):
listing and desperate for sale and giving you bad advice.
Raus needs to come off for a little bit. You
need to get it in front of a new set
of buyers. Okay, And you might say, oh, I can't
afford the mortgage payments for two months. Well, we can
help you try and get four bearants, but you're going
to lose it in equity if you try and go
back on, because everyone's going to see the days on
market and they're going to click next. Okay, the days
on market make consumers click next. They think something's wrong

(31:59):
with it, or that you're going to lower the price,
or that no one else wants it. And if no
one else likes or wants it, they don't want it.
That's just the way social media is trained people to think.
So hopefully that helps you understand the challenges that you
have in pricing your home today. We'd love to help you.
If you want an aggressive agent, if you want to
price your home aggressively, if you want to move your
house at the number that will get the market to

(32:21):
chase you, hit us up at dunkin duo dot com. Again,
that's duncinduo dot com. Just type in your address. Whenever
agents will reach out, we'll talk to you about pricing strategies,
will help you get your home sold, and so much more.
Again at dunkinduo dot com. We're back wrapping up with
our last segment here on WFLA News. So back here
on the Dunkin do a real estate show talking about
the Tampa Bay real estate market. I want to wrap

(32:42):
up our last segment here with some tips for home
buyers during the present real estate market. Something I've run
into a lot over the years when markets shift, as
buyers kind of seem to not really understand the market
and the benefits and so one of the biggest proponents
of buying during a down market is the ability to negotiate.

(33:07):
I tell my agents all the time, you know, during
you know, during peak markets, buyers might say things like, oh,
I don't want to waste the time with this offer.
You know, it's too low and I wouldn't pay that
much for it, and so the client ends up not
making the offer. In a market like today, I would
encourage you to make those aggressive offers because sometimes they're

(33:28):
going to get accepted and sometimes you're going to find
a seller motivated enough to make the action happen. So
we are in a more challenging market that gives the
buyer the edge and negotiations. The other thing that's that's
unique for home buyers that a lot of people just
fail to grasp the concept of is that your prices
are artificially lower. If you look historically at real estate

(33:49):
prices in Tampa and then you graph that over with
interest rates, Okay, it is amazing what you see as
interest rates drop, prices rise, as interest rates rise, prices
soften or drop. So we're obviously in an increased interest
rate environment if you look over the past several years.

(34:10):
So what does that mean for prices? Okay, it means
they soften some. So you have so many consumers out
there that say, well, you know what, I'm just gonna
wait until the rates drop and then the price of skyrocket.
The problem with that logic is that you assume, Look,
no one buys a house and pays a mortgage for
thirty years anymore. I mean very few people. You're going

(34:30):
to refinance or you're gonna move before it matters. But
people will make that decision and say, oh, I don't
want to lock into that interstrate for thirty years. You're
not really locked into for thirty years. You're locked into
it until rates a dropp enough for it to make sense.
So'm gonna have an artificially high payment for a year
or two. But you've got a really great deal in
the house. If you can swing that, your equity gain
is going to be greater when the market rises, and

(34:52):
you're going to get the benefit of that equity that
you wouldn't get if you waited until rates drop and
buy then, because equity will then be diminished by prices rising,
if that makes sense. Another thing I think a lot
of customers, a lot of buyers today don't quite grasp. Obviously,
it's the ability to negotiate. It's also the you know,

(35:15):
total costs. You know, you've got taxes, you've got insurance.
Those are things that have gone up in Florida. So
the interest rates obviously, when they're lower, it softens the
blow of some of those things. Right you refinance to
a lower rate, even if your taxes went up or
your insurance went up, and you kind of you know,
but pretty much all of that right now has risen.
So that's why there's a softening of price. That's why

(35:36):
buyers have a great opportunity to get a good deal
and to negotiate and have leverage that they haven't had before,
and then you a year or two down the line, expectedly,
we I think most people believe that we'll see a
lower interest rate environment. Then you take advantage of the rates.
Then while other people are chasing and they don't get
the equity gain that you get because they're gonna end
up overpaying for their house or getting into a bidding war.

(35:58):
You know, you can have it one or two. You
can either have the market where it's a bidding war
and you're overpaying you miss out on seventeen houses, or
you can have the market today where you will probably
get the house that you want if you're reasonable with
your offer. You have an ability to negotiate, you're not
jumping through hoops. You have ability to control the process,
the terms, all of those things that you don't have
the ability to control when prices are rising and sellers

(36:21):
are in control. So buyers right now, I think it's
an incredible opportunity if you're buying for the long haul. Look,
if you're trying to flip it, if you're moving in
a year or two, maybe it's not the right call
for you. But home buyers today have an ability to
gain some considerable equity when we do see intratrates soften
or property tax abolishment, which is something that has been
put on the agenda in the state of Florida. Another

(36:43):
thing I think consumers make the mistake about today is
thinking of their house like a vacuum. And the best
advice I can give you is to separate yourself from
your home and understand that when you're selling it or
when you're buying one, and understanding the relativity of the

(37:04):
other home that you have. So here's an example. You
own a home, okay, and you want to buy another one.
You want to move, and you want to get six
hundred thousand out of your house. It's only worth five
point fifty. Right. We have consumers all the time. They
just they don't realize those two things are interconnected because
you're buying and selling in the same market. So customer

(37:24):
will say, well, I need my house to get to
six hundred before I can sell it, so I can
go buy my eight hundred thousand dollars house, so I have
enough money. What do you think is going to happen
to the eight hundred thousand doar house. They're just gonna sit.
It's gonna sit in a vacuum. It's gonna go back
to the future and the DeLorean it's going to drop
in price. Oh, it's gonna go up to proportionally probably

(37:46):
a comparable percentage. So if you need your house to
go up six percent, what do you think the eight
hundred is going to do? You need your So we'll
give you an example. You need your five, You need
your five to fifty house to go up to six hundred.
Your eight hundred is going to go to eight eighty.
You're gonna lose money. You're not really winning in that scenario.
People don't seem to get that. They don't seem to

(38:07):
grasp that it's really all relative. If you don't get
as much for your house, that means you just got
to get a better deal on what you buy. And
it's just that simple. So customers, if you are selling
to buy, please look at that. Please understand that you're
not in a vacuum. If you're waiting for your home
to go up, what you're gonna buy is gonna go
up to You're not really winning anything except an ego.

(38:29):
You know you're gonna win the ego battle, and it's
not gonna put any more money in your pocket. It's
not gonna be a better financial decision. You're gonna paying
war for the other house because you're waiting for appreciation
to kick in on the home that you own, it's
gonna kick in on what you're buying too. So one
last tip that I would give home buyers. It's one
of my favorite tips of all time, and consumers mess

(38:49):
this up so much. If you're looking at a house
to buy and you're trying to adjust your commute to work,
and you go and check it out on a Saturday
at noon, nice eighteen minute drive from your office. You
look it up on Google Maps. Oh, it's only eighteen
minutes from the office. That's wrong. It's not eighteen minutes

(39:10):
from the office. It's eighteen minutes on a Saturday at noon.
How often are you going into your office on Saturday
at noon? Probably not very often. So measure your commute
time during the times that you would commute. Drive the commute,
see what it's like. Can you tolerate it? We've had
countless customers the past few months call us and say, hey,

(39:30):
I about this house a year ago. Commutes, brutal construction,
more population, roads have gotten worse. Our market in our area, unfortunately,
has had a massive influx of population that the infrastructure
hasn't been able to handle. Now it's great for the
real estate market. I'm happy for the population growth, I'm
not happy that the infrastructure isn't keeping up and longer

(39:51):
commute times, longer travel times, longer drive times. So please
measure your commute time during times that you're going to
actually commute and know what you're getting into. Had somebody
not long go say, oh yeah, I'm going to commute
from Lakeland to downtown Tampa. It's I look, it's twenty
eight minutes. On most days it's way more than that.

(40:11):
But they did it on a Saturday at nine in
the morning when they went to look at the house.
We're ready to buy it. It's only a twenty eight
minute commute to my office. The traffic in Tampa Bay
is completely different Saturday morning at eleven than it is
Monday at eight am. So that's my last tip for today.
Make sure to fall us at the dunkin duo, Twitter, Instagram, YouTube,

(40:32):
and TikTok and have an awesome rest of your weekend.
Tampa Bay
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