Duncan Duo 7-21-24

Episode Transcript

(00:00):
Happy Sunday, Tampa Bay. We'rewith you for another week here on the
Duncan Duo Real Estate Show, likewe are every Sunday talking about the Tampa
Bay real estate market here on WFLANews. When we aren't on air,
make sure you follow us on allof our social channels we are at the
Duncan Duo Twitter, Instagram, YouTube, TikTok, Facebook. Make sure if

(00:21):
you're a Lightning fan, you're payingattention as well. We're always giving cool
Lightning swag, signed jerseys, tickets. I know we're still a few months
out from from hockey season, butSteven stamcos we've got to sign jersey from
him that we're giving away on oursocials right now, So make sure you
go on there, compete in ourcontest and have a chance to win a
signed Steven Stamcoast jersey. Kind ofour farewell to Steven for all of the

(00:48):
years, the championships and what anincredible job he did for Tampa Bay.
So again, make sure to followus on all of our socials at the
Duncan Duo when we aren't on air, Twitter, Instagram, YouTube, TikTok,
Facebook, pretty much all of themout there at the Duncan Dubo.
I want to talk to the audiencenow about vacant land or teardowns. We're

(01:12):
actually working with a couple builder clientsand we're looking for more of these.
So if you have a property thatyou know needs massive renovation, the value
is probably in the land it isa teardown type opportunity, or you have
land to build on, we wantto hear from you. We're looking to

(01:33):
acquire some more for a couple ofdifferent builders. So if you do have
land that's off the market, ifit's on the market, we've already seen
it. This We're looking for someprivate opportunities of stuff that isn't on the
market. We've been looking for acouple of these clients for a while.
So again at the Dunkin Do onour socials you can message us there.
You can also call or text usat eight one three three five nine eighty

(01:57):
nine ninety if you have some vacantland or a potential teardown for a new
construction building. You know, there'sa variety of different areas across Tampa Bay,
but ideally we'd love to find somemore lots in South Tampa, some
some stuff in similar heights, maybearound the river riverfront, and of course
anything near the beaches or waterfront aswell. But basically any neighborhood where you

(02:21):
see kind of a transition going onwhere there are older homes and brand new,
you know, larger homes. Ifyour home is in one of those
and you're looking for a teardown,we would love or looking to sell a
teardown or some land, we wouldlove the opportunity. Again, you can
call us eight one, three,three five nine eighty nine ninety or hit
up our website at duncanduo dot com. Again, that is duncanduo dot com.

(02:46):
I want to talk about celebrity realestate really quickly. This is something
we get a lot of questions aboutbecause people watch, you know, the
reality TV shows, the hgtvs ofthe world, and there's always some curious
quoeseestions about how do celebrities buy andsell real estate? And there's kind of
a kind of a range in termsof how it's accomplished, and it depends

(03:07):
on the person's wealth and their fameand what they do for a career in
terms of how it operates. ButI want to talk first about professional athletes.
Most of our experience with professional athleteshas been with the spouse, you
know, especially if you're talking aboutend season. The hockey player, the

(03:27):
baseball player, the basketball players isnot doing anything but focused on their season.
So it's a lot of coordination withthe spouses and certainly a lot of
coordination with their agents and attorneys.There's going to tend to be whenever you're
dealing with celebrities, professional athletes,famous people, there's going to tend to
be a few more hands in thecookie jar. And what I mean by

(03:50):
that are going to be advisors orattorneys or agents. They're really trying to
do what they can to help protectthat person. So some unique things we've
seen when we have helped celebrities buyor sell real estate, we have seen
requests for destruction of documents. We'vewe've signed multiple non disclosure agreements where we're

(04:10):
not able to talk about the transactionif the press calls. That is something
that a lot of athletes and celebritiesyou know, try to do is mask
They really don't want a public spotlighton where they live. Florida is different
than a lot of states in thatit is public record. You can look
up and determine where people live.Some athletes and some celebrities will do what

(04:31):
they can to try and put LLCsor trust in place to keep their individual
name off of to try and keepsome semblance of privacy. But you'll regularly
see celebrities and athletes move every fewyears, and the reason for that is
because their address gets out and moreand more people learn that they're there,
and then it's time to move somewhereelse and kind of you know, scrub

(04:55):
that, so to speak, tokind of start over and not have everyone
know where they live again. There'sthere's a couple of reasons for that,
you know, again kind of relatingto personal safety, just a comfort in
a neighborhood. There's also tax benefitsyou'll see, and certainly it depends on
the level of the celebrity or athleteand location. But in Florida you can

(05:16):
look it up, you know,because we have homestead protections on value,
your your net worth being protected whenit's tied up in your house because your
your homestead can't be as easily penetrated. You will see a lot of celebrities,
you know, homestead in Florida aswell as you know put it in

(05:36):
their individual name because when they putit in corporations, they lose some of
those protections. So any celebrity orathlete that is risk conscious wants to keep
that a lot of times once tokeep that homestead property in their name or
in a trust in their names sothat they keep the homestead protection and so
that they protect it from creditors.So that is one unique thing that you

(05:57):
see. You will see them moveregularly. It's probably more common in California
where there's like house tours. Havingfriends that do a lot of business in
LA and Hollywood and Beverly Hills throughthe years have told me that that part
of them moving because in California youdon't have the same public records research.
It's not as easy to figure outand look up online where someone lives.

(06:18):
So in California, you know wordwill get out or the tours learn where
certain celebrities live, and once thathappens, then the celebrity wants to kind
of move again to protect their privacy. Some other things that we deal with
in terms of working with celebrities orprofessional athletes, again, that a lot
of involvement from outside parties. Andwhen I say their agent, I don't

(06:42):
necessarily mean their real estate agent,I mean their sports agent who's very likely
also a lawyer, and sometimes outsidecouncils. There's going to be some additional
reviews of documents. Things might takea little longer to go through. There's
there's other eyes on the transaction thanit's typical real estate transaction because there's just
more at risk, there's more moneyat risk, and there's more for that

(07:05):
person at risk because of you know, who they are in the public eye.
A lot of times celebrities professional athleteswill want to look at homes kind
of in a guarded way. Youknow, they don't necessarily want everyone to
know that it's them. Again,depending on their level, showings might be
arranged in a way to kind ofprotect people around from seeing that it's them

(07:26):
or learning that it's them looking atthe property, because the last thing celebrities
want is that getting out when they'retrying to stay private. One thing I
have learned, however, is thatthere are plenty of celebrities that use the
search for real estate as a wayto keep themselves in the news. So,
for example, or you know,they'll they'll be spotted out at a
restaurant. If a movie star orathlete is working on something that needs exposure.

(07:51):
You know, let's say it's ait's a movie actor with a new
movie coming out, them going shoppingfor homes. They may leak that because
it's an their way to keep themin the press for the movie they're about
to promote, to keep eyes onthe movie that everyone that they want everyone
to see because they profit from that. Similarly, if there's a new product
launch for an athlete, they mayshow up at a restaurant, or they

(08:13):
may you know, allow stuff tobe leaked or allow themselves to be photographed
in in a restaurant or somewhere outbecause again that will kind of reverberate in
the news cycle. So there's alittle bit of a pr game that gets
played with celebrities and athletes. Whenit comes to real estate, we've worked
with a lot of them, we'represently working with with with a few,

(08:35):
and again, how they buy andsell real estate is just drastically different than
a normal transaction. Some of theunique things that they're looking for in a
home as well, a security instance, you know, a gate, you
know, extra security on the home, cameras, security systems, those are
all things that are of utmost importancebecause again they know that they're going to

(08:58):
have people you know snooping around.So it's always interesting because you will see
it, you know, even inthe Tampa Bay Business Journal, you'll see
multiple times, or an athlete ora local celebrity or someone buys or sells
real estate and it and it hitsthe hits the news because those you know,
those journalists are monitoring the clerk ofcourt and tax rolls to find that

(09:22):
information a lot of times because it'sit's generally not going to be the agents
that leak that to the press becausethe the their client doesn't want it getting
out there. They're hoping it fliesunder the radar most of the time.
So hopefully this has been helpful interms of understanding how celebrities and athletes do
real estate a little bit differently,and and hopefully that's helpful for you when

(09:45):
you aren't listening to the show.Follow us on all of our socials at
the Duncan Duo, Twitter, Instagram, YouTube, TikTok, and Facebook.
If you are thinking about selling yourhome, you're not sure whether you're going
to sell it three months from now, six months from now. Maybe you're
someone who says, you know what, I'm going to wait until after the
election. There's certainly a segment ofpeople that are wrongly doing that right now,

(10:07):
but nonetheless there are people that are. You can go to Duncan Duo
dot com and get a home valueestimate. We will reach out so that
you can understand what's going on inyour neighborhood. Maybe it's the right move
to wait, maybe it's the rightmove to get it on the market asap,
but either way, you can getthat information. You can learn what's
going on in your neighborhood, youcan see the comparables, and you can
get what I believe is the besthome value estimate in Tampa at duncanduo dot

(10:31):
com. The difference between what weoffer and what you know some of the
online you know, larger websites offeris that we have we have the human
element. So if you go ontoours and you fill it out and you
get your home value estimate, we'regoing to reach out to determine how accurate
it is. Maybe your home hasextra features, maybe the data online isn't
accurate, maybe you've upgraded or donean addition. There's a lot of the

(10:54):
there's a lot of the challenges withthe online portals when it comes to data,
which is specifically why real estate agentand still have a job. So,
if you are someone who feels likethe online portals aren't serving your homes
value, you track your value,you want to know what's going on,
you can again you can sign upat Duncan Duo dot com. We will
give you a free home value estimateand one of the agents on our team

(11:15):
will reach out to add the humanelement to say, hey, what are
your features? What is the condition? What can we learn about your home
that isn't on public records? Youknow? What is it back up to?
Does it have a better view?You know? Is it better located
in the neighborhood. We'll often findhomes that are like on a busy street
that are used as a comp fora home that is not on a busy

(11:37):
street that shouldn't be used as acomp. So those are things that we
can do to make sure that yourhome value is accurate and you're staying up
to date with what is on themarket. Now, if you're a home
seller and your home has failed tosell, I want to talk to you
guys after the break. Unfortunately,the market is shifted. We're starting to
see some neighborhoods experience to depreciate.We're seeing some short sales and neighborhoods,

(12:01):
and we're seeing this challenging market thatwe're in, maybe for the next few
months until the end of the year, depending on what happens with rates and
the election. We're seeing a lotof real estate agents that don't know how
to sell in a challenging market getexposed. And if your home failed to
sell, I want to talk toyou next. We'll be back continuing this
conversation after a quick break on theDuncan Duo Show. So back here on

(12:22):
the Duncan Duo Show talking about theTampa Bay real estate market. Attention,
home sellers. If your home hasbeen on the market and failed to sell,
it failed to sell, you didn'tget the results that you wanted.
There are a few things that youcan do to change that. A lot
of times people hire the wrong realestate agent. They either hire the guy

(12:46):
that'll do it the cheapest, andagain you get what you pay for.
You hired somebody that doesn't have amarketing budget because they did it on the
cheap, so they can't get exposurefor your home. Or you hired the
cheapest and they're a terrible negotiator andthey're not able to execute and get the
job done, because again, ifthey were a great negotiator, they'd know
how to negotiate their fee too.So you've either hired the cheapest, the

(13:07):
home could potentially be overpriced, orthere's a gap in the marketing, and
so if you're a home failed tosell, we specialize in helping people whose
homes have failed to sell. We'vesold thousands of homes that haven't sold with
other real estate agents. Sometimes it'sbetter to be the second or third real
estate agent and not the first one. And ultimately we want that job.

(13:28):
We want the opportunity. If yourhome didn't sell, it could be one
of those reasons, and we woulddo an analysis. Sometimes we tell a
client to take it off the marketfor a little bit so the market can
reset. Sometimes it's simply, hey, we need to go right back on
the market because here's this glaring detailthat wasn't marketed properly. Sometimes it's a
pricing issue. Sometimes it's you know, it could be a variety of different

(13:50):
things. Every home is unique anddifferent. But we often find when we're
analyzing a home for someone who's hadit on the market. We're tending to
find a you know, a lotof the time it's an inexperienced agent that
doesn't have a lot of home sales, that doesn't have a team behind them.
Recently, I was talking to aclient that had a million dollar home
in the Fishawk area, and theyhad reached out after home after their home

(14:13):
didn't sell, and of course theywent with someone who was a family friend
relative, and in looking at theirstatistics, they had never sold a home
above six hundred thousand dollars. Theirmarketing strategy was for homes in the kind
of common core price range. Theydidn't have the right marketing strategy for home
above a million dollars because they'd neveractually sold one. So that experience comes

(14:37):
into play. When you're hiring areal estate agent, you're not hiring them
for what they're doing for you,or a real estate team. You're not
hiring them for what they're doing now. You're hiring them for the thousands of
transactions and the years they've been inthe business and the experience that they've learned
over time, those battle scars andwar wounds to get your home sold in
a challenging market. So if thatis you go to Duncan Duo dot com.

(14:58):
We would love to talk to you. We'd love to a to see
if there's a different marketing strategy.You can also call or text us eight
one three three five nine eighty nineninety again eight one three three five nine
eighty nine ninety. And far toooften home sellers pick a real estate agent
because they're the one they'll do itthe cheapest, or the one that told
them, you know, that liedto them about the price. They told
them some fantasy land price that maybea year or two ago could have happened,

(15:22):
but that's just not in the marketwe're in today. And if that
happened to you, we'd love tohelp again. You can do that at
Dunkin Duo dot com or text uscall us eight one three three five nine
eighty nine ninety because it's really commonright now. We are seeing it a
lot of the times where the consumernever even really validated or verified the track
record of the agent or the teambehind them to learn the skill set,

(15:46):
to make sure it's properly marketed,to make sure it's priced well, you
know, and and so that that'swhat ends up happening, and so I
think in today's market, there arethree ways you can price a home.
Three specific ways. You can priceit above market value. If you price
it above market value, you're goingto chase the market in neighborhoods where we're

(16:07):
seeing price depreciation, and real estateis so local that there are areas of
Tampa right now that are still goingup in value, and then there are
areas of Tampa that are going down. If you're in one of those areas
where prices are going down, there'san influx of listings, there's not as
much demand, there's more supply.If you overprice your home, you're going

(16:27):
to chase the market and your homeisn't going to sell because by the time
you cut it to the price itneeded to be, it's dropped to an
even lower number. Okay, Sothat's one strategy that often fails, and
that's where a lot of real estateagents make the mistake of not being upfront
with the client about price and thenthe client having to chase the market down

(16:48):
because they were unrealistic. The secondstrategy is you can price it up market
value. That means this is approximatelywhat it would would appraise for and this
is in line with what is soldand pending you. Pricing it at that
number is kind of like an appraisalvalue. The premise behind that is that
it should take you know, thirtyto sixty days sometimes a little longer for

(17:11):
it to sell at that number.That's about the going trend in Tampa.
In most price ranges in neighborhoods,the last way is to price it below
market. Okay, pricing it belowmarket is an aggressive strategy meant to force
the action quickly, meaning that thehope is you would potentially even get a
bidding war to drive the price up, maybe to retail or higher by creating

(17:34):
demand for the home. If you'veever watched any auctions for cars, I'm
a big car person. Can't tellyou how many times I see car auctions
where cars go for above what they'reworth because two people start competing for it
and their ego gets in a way. You can apply the same strategy to
real estates pricing it aggressive and thenletting the people chase it instead of you
chasing them. You're more likely tocontrol terms, you're less likely to have

(17:56):
issues with inspections and appraisal, sellit more quickly, avoid paying multiple mortgage
payments. That is the right strategyfor a lot of customers. It's not
for others. It's all the upto the client. But that is a
strategy that forces the action quickly andthen having the right marketing in addition to
that aggressive price, as well asthe right negotiator. A lot of real

(18:18):
estate agents today are struggling. They'rehappy to get a sale. They get
an offer on the house, andthey want to push you to agree so
they can get a commission. Theright real estate agent me or my team.
We get an offer, we wantto position the home. If it
happens quickly, we want to seeif we can get others. We want
to drive the price up. Wewant to sell the home for the best.
We're competitive. We want to havethe best sale in the neighborhood.
We're going to have the highest price. We want to break a record.

(18:40):
We want to put as much moneyin your pocket as possible, because the
higher we drive the price, thebetter it is for us to Hopefully that's
helpful for you to understand how toprice a home in today's market. I'm
going to be back intending this conversationafter a quick break here on the Duncan
du A Real Estate Show. Sowe're back here on the Duncan Duo Show
talking about the Tampa Bay real estatemarket. Here on WFLA News like we
are every Sunday at ten giving youall the updates on everything going on in

(19:03):
Tampa Bay. I mentioned in thefirst segment how we're representing some builders they're
looking to acquire more land. Ifyou have teardown homes that are land value,
if you have vacant land, ifyou if you have land and it's
not on the market, okay,So if you have land that's on the
market that's not you know, we'vealready seen it. Our clients have already

(19:25):
seen it. We've already seen it. Okay, we've already looked at it
and evaluated it. But if youhave land that isn't on the market,
please reach out to us, callour Texas eight one, three, three,
five eighty nine ninety looking specifically foryou know, potential waterfront, Seminoal
Heights area, riverfront, South Tampaarea, some of the key South Tampa
neighborhoods, you know, Beach Park, Palmaca, you know, Cold Breath.

(19:48):
But then even down even down tothe base everything in Port Tampa three
three six one one. Those areareas where we're looking for some clients.
They're looking to acquire teardowns, forlots for building new can instruction homes and
of course also looking over in Penelaswaterfront communities custom home builder there. So
if you have land and it's noton the market, reach out to us

(20:10):
Duncan Duo dot com or eight onethree three five nine eight nine nine zero.
So I want to talk next tothe real estate agents out there.
My team is growing. One ofthe things we have done recently that is
a massive change in my business.Historically, we'd always wanted an agent to
work with buyers first, and sothey would work with buyers and then they

(20:32):
would eventually work with sellers. There'sa lot of change coming to real estate
and how commissions are structured and howreal estate brokers operate, and so our
business is presently transitioning to where themajority of our agents, even new agents
that we hire, are going tobe trained and able to work with sellers
from the get go. We wantto train more listing agents in today's market.

(20:52):
So if you're someone who's had successlisting homes but maybe not getting enough
at bats and and or you're anexperience agent and maybe you hadn't thought about
joining my team because you know,you simply wanted to list homes and you
knew we focused on hiring buyer agents. We are looking for listing agents.
Go to join the Duo dot com. You can apply for one of our
open positions. You can message uson any social channel. You can message

(21:15):
me directly on Facebook or Instagram.And again, we are looking to hire
and train more agents to work withhome sellers as listing agents. So again,
just go to join the Duo dotcom, apply for one of our
open positions. You can even setan appointment on there to speak with us
directly to scheduled day and time.And again you can do that at Join

(21:37):
the Duo dot Com. Again,that's join the Duo dot Com. So
I want to put a funny spinon something that happened this week. You
know, if you've not been livingunder a rock, you know, it's
been about a week since an assassinationattempt on President Trump. And I'm just
wondering if maybe I need to puta price premium on hold homes with sloped

(22:00):
roofs, because apparently homes with slopedroofs are an obstacle for the police,
and I just thought I saw thereal estate angle to that, and I
just thought it was wild when Isaw comments come out about how there was
some sort of obstacle with that roof, and we all saw photos and images
that just didn't match that. Butyou know, maybe there's a new real
estate trend coming soon or a newcheckbox that needs to hit the MLS for

(22:22):
sloped roofs, because I had neverquite understood the complications with that. But
nonetheless, if you're looking for ahouse with a slope roof, we can
help you. So again you're listenedto the Duncan Duo Real Estate Show.
Follow us on all of our socialsat the Duncan Duo when we aren't on
air again, that is, atthe Duncan Duo Twitter, Instagram, YouTube,

(22:47):
TikTok, Facebook. I want totalk about real estate and the changes
coming to our industry in August,just a couple of weeks away. If
you're a home buyer and you've lookedby buying homes in the past, the
process for you getting access to homesis now going to massively change. So
there has been a litigation that hascaused a settlement that is massively changing the

(23:12):
real estate industry right now. Andthe main thing that consumers need to understand
is that commissions are now going tobe kind of divided. Okay, so
the seller is going to pay acommission to the seller's agent, the buyer
is going to pay a commission tothe buyer's agent, and you can,
as a buyer, ask for theseller to pay that in concessions. The

(23:33):
key to this, though, isthat you now have to have a signed
buyer representation agreement to look at homeswith an agent. That hasn't ever been
the deal in the past. Thereare some agents that would use it as
a standard of practice. But ifyou called your real estate agent and said,
hey, I want you to showme this house on you know,
Shelton Avenue or on take On oron San Pedro, whatever it is,

(23:56):
that real estate agent just jump outand show it to you, ask if
you were qualified, maybe go throughsome preliminary conversations to make sure they're not
wasting their time. But there wasno legal requirement for them to have you
sign anything, Okay. They wouldjust simply attempt to get you to make
an offer and then attempt to getto get you to engage in them in
representation, or they would write theirname on the contract. Because the MLS

(24:18):
the seller through the selling agent wouldoffer a cooperative commission, that cooperative commission
is now being morphed into either arequest for concessions or the buyer paying the
agent directly. So if you reachout and want to look at a house,
a buyer agent or someone that wouldrepresent you is going to want to

(24:41):
meet with you because you're going tohave to sign a form in one way
or another. If you're going tolook at a home that is represented by
another brokerage. Now if you godirectly to the listing brokerage again, you
know there is an opportunity for themto show you that home. But as
far as an agent representing you andyou having a buyer's agent, you now
are going to have to engage andhave an agreement signed with said agent for

(25:06):
them to start showing you homes.They're not as easily going to be able
to just pop out and show youhomes. There's going to be a little
bit more of a qualification process.So when real estate agents attempt to get
you to meet with them, likethey maybe have in the past. It
isn't just now their preference to operatetheir business that way, it is it
is a legal path towards ensuring thatbuyers have full disclosure over fees and commissions.

(25:30):
Is it is going to be arequirement of that agent. I've always
believed that agents should do that anyway, because they don't know if you're a
psycho, serial killer, or ifyou're going to not be a great client
to work with. So so theyshould have always been doing this. However,
there's plenty that have not. Andnow, in addition to of course
ensuring that the person they're going tomeet with is who they say they are

(25:51):
and a real person and you know, not some crazed criminal. Now they
have to have this form sign toshow you homes, and if they don't,
the binds and fees are massive.So I want you to understand the
agents pushing to meet with you orpushing you to sign a form before they
can show you home. This isnot something to get irate about. To
the agent. It is not theirdecision. This is a new you know

(26:15):
regulation that is in place that isbecause of you know, class action lawsuits
that says real estate agents to showhomes if they are a realtor now have
to have this form signed that showsthat they represent you and discloses how they
would be compensated and what their feesare. So you're going to get some
of this and just understand as abuyer that it is coming and that change

(26:38):
has happened and you're going to haveto have those discussions about fees and representation
before you look at a house inthe future. So hopefully that helps you
understand what's going on and why thechange happens, because you're going to start.
You know, if you're a homebuyer or someone that regularly looks at
property, you're going to have tohave representation agreements because those agents, if
they don't do it basic, theycould have massive finds and potentially ended up

(27:02):
not being able to be an agentif they're breaking the law. So again,
super important to understand those changes andhow it relates to you as a
home buyer and as a home seller. Again, if you're not following us
on socials, make sure that youfollow us on socials at the Duncan Duo,
Twitter, Instagram, YouTube, TikTok, Facebook, all of them at

(27:26):
the Duncan Duo all of our socialsfollow us were regularly putting out relevant real
estate topics as well as keeping youupdated on what is going on in the
Tampa Bay real estate market here onthe Duncan Duo show. Again that is
at the Duncan Duo saw this comeout this week and it was the top
ten most affordable beach towns for retirees. Tampa Bay performed pretty strong on the

(27:52):
list. We had Hudson Venice stillkind of, Tampa Bay, Crystal River
kind of as well as Inglewood fourof the top ten. We are still
seeing people move here. We're stillseeing population growth. We're not seeing as
much population growth as we saw acouple of years ago, but we are
still seeing people move here. Sothat is one of the drivers that's expected

(28:15):
to keep our real estate market healthierthan others. We are seeing neighborhoods where
we're starting to see short sales,We're starting to see depreciation, and so
we're in neighborhoods where prices are notrising anymore, whether they're kind of flat
or slightly dropping. We have somethat are still still rising, but nonetheless,

(28:36):
with the changes in the marketplace,our market is going to outperform others
simply because we have the population growthand the people that are moving here.
And you know, sunshine, rainbows, you know great weather. But if
you're a person that is in financialdistress, if you're thinking about doing a

(28:56):
short sell, if your bank hasreached out, you're behind on your mortgage,
you're interrears, you're in forbearance,you don't have equity. There are
a lot of consumers who bought intwenty two, twenty three, and twenty
four that have high interest rates andprices in their neighborhood have softened and they
haven't risen enough for them to beable to cover the cost of selling,
and in that instance, you couldpotentially look at doing a short sale.

(29:17):
There are a lot of benefits toa short sale. We always recommend legal
counsel, which will recommend to you, but there are a lot of benefits
that allow you to sell the homeand then have the fees of the sale
of the home covered through the lenderthat approves the sale to happen. It's
a much different process than a typicalsale. There are a lot of real
estate agents that have just gotten inthe business the last few years have absolutely

(29:38):
no idea how to do them,and they are very complex, they can
be litigious, and I just wantyou to know that we have a massive
amount of experience. I've been doingthis for almost twenty years. I went
through the Great Recession. I've donehundreds of short sales. I did massive
amounts of them from two thousand andnine to twenty twelve. So if you're

(30:00):
someone we have the system still,we have the processes. If you're someone
that's thinking about doing a short saleand you're in distress, you're not able
to make your payments, and youknow the home is worth less than what
you owe, please reach out tous. Hit us up at duncan duo
dot com, call or text usfor a confidential consultation and you can do
that again at eight one three threefive nine eight nine nine zero or duncinduo

(30:22):
dot com. And if you knowthat you're a short sale, you're already
behind on your mortgage, You've alreadytalked to your bank. Your bank has
told you find an agent, needto find an experienced one, and you
have found them by listening to thisshow. So just hit us up.
If you know someone as well,you know someone that's in distress, If
you know someone that's not making theirpayments or behind or in a negative equity
position. Make sure to share acontact information with them again at the Duncan

(30:45):
Duo or eight one three three fivenine eight nine nine zero to call or
text. And again it's a it'sa challenging time for some people. We're
certainly not going to see the numberof short sales and foreclosures that we saw
in the Great recept, but we'reseeing some from that crowd of people that
bought between twenty two and twenty fourand has a high rate or refinanced and

(31:06):
has a high rate and their homeis now worth lesson with the os.
So there's a small segment of theaudience and that's who I'm speaking to right
now and if we can help youagain, eight one three three five nine
eighty nine ninety can be back aftera quick break, wrapping up with our
last segment here on the Duncan DuoShow. So back here on the Duncan
Duo Show, wrapping up with ourlast segment when we aren't on air again
at the Duncan Duo and Duncan Duodot Com, all of our social channels.

(31:29):
I'm going to talk next about thisis a struggle that I see,
and it's it's why experienced agents withstaff and assistance and extra people to check
the details can outperform someone who doesn't. I saw property this past week that
had been on the market three months, and it was two things. Number

(31:52):
One, it was a property thatwas in an excellent school district. However,
on the MLS, the real estateagent failed to list the schools,
meaning that if someone pulls up anyof the you know, thousands of websites
out there to search for homes andsearches for homes with that listed high school,
they're not going to find that home. Now, if they searched geographically,

(32:13):
they'll find it, but a lotof people aren't going to do that,
and so this particular property was beingmissed by the majority of the consumers
because the real estate agent was toobusy juggling a million different tasks. To
why a team can outperform a soloperson in many instances because you know,
you're leading the strengths and those peoplecan check details and make sure that everything's

(32:34):
covered. So that particular property hadn'tsold when other homes in the neighborhood had
sold for more money or excuse mefor less money. This home was worth
more, and they'd lowered the priceand lowered the price, And the reason
wasn't the price. The reason wasbecause they were missing important details not on
the MLS so the consumer can findit. I've seen it happen with waterfront

(32:55):
as well. I'll give you anexample. I personally bought a waterfront property
seven years ago, and I boughtit because I knew the address was waterfront
and it was underpriced because it wasn'tadvertised as waterfront. The MLX box was
not checked that it was waterfront.Anyone that looked at the address would realize

(33:17):
it. But they were missing amassive swath of consumers that were using features
online to allow them to check offa box and say I only want to
see waterfront property. They were missingall those consumers. So in essence,
what ended up happening is sold forless money because it wasn't properly marketed.
The agent that you hire in achallenging market matters more than you realized with
those little important details like that.So if you've got an agent that doesn't

(33:38):
check off the right boxes, thatdoesn't check off waterfront, that doesn't appropriately
use the data fields as that consumersuse to search real estate. You are
missing out a massive amounts of opportunityand sometimes that's the difference between a home
selling and a home not selling.So we are very conscientious to make sure
that we check those boxes and andfollow the protocol for making sure that we

(34:01):
use everything possible to market a home. But there are unfortunately some agents out
there that are either inexperienced, jugglingtoo many things, lazy, miss details
that can unfortunately wrecavoc on your homesale or cause your home not to sell.
And we want to make sure thatthat doesn't happen to you. So
again, you can do that atduncanduo dot com. Again, that's Duncan

(34:23):
Duo dot com. Home buying,as I mentioned in the last segment,
is going to massively change. Nowyou're going to have to sign an agreement
for a buyer agent to show youhomes. It is going to change how
consumer search happens. But consumers arestill going to search for homes. They're
still going to want an agent totweak in the process. Is what we're

(34:46):
really working at. But I raninto some customers this week that had problems
with financing, and I want togive you in this last couple of minutes
of the show. If you're thinkingabout buying a home, I want to
give you some quick tip to helpprepare you for your credit profile being in
the best position possible. One ofthose things is pull your credit qualify for

(35:07):
a mortgage before you ever look ata house. Okay, you need to
know what's going on with your credit. Far too often we find mistakes,
unpaid medical bills that needed to bewiped out, or credit that isn't the
person's credit showing up on their profile. If any of those things happen to
you and you wait until you findthe house, you might lose the house
because you didn't do that stuff aheadof time. So pull your credit,

(35:30):
talk to your lender about your incomeand what you document or your income before
you go through the process of buyinga home. I have plenty of friends
that say, oh, I makeone hundred thousand or I make five hundred
thousand, and then you look attheir taxes and they make a third of
that. What is on your taxes? What matters most are the lenders that
can creatively qualify you other ways,or maybe have you pay a higher rate

(35:52):
or use certain things in your incometo bump up your income, of course,
but it's your documented income that mattersmost. So if you're self employed
or a business owner and you havea lot of write offs and you're planning
on buying a home this year,talk to a lender and a CPA and
make sure you're reporting everything the rightway so that it doesn't negatively affect you
on your purchase. It may helpyou in taxes, but then you disable

(36:15):
your ability to buy a home becauseyou're too aggressive with your write offs,
and maybe you could kick the candown the road with some of the write
offs. Regardless what you'd tell yourfriends your income is is different than what
you tell the irs your income is, and a lender cares most about what
you tell the irs your income is, So make sure you have documented that
and communicated with your lender so thatthey can go through the necessary steps to

(36:37):
help you qualify and buy a home. We had a consumer this week that
did it the absolute wrong way,refuse to work with one of our lenders,
Holts. The whole deal fell apartbecause the lender qualified them simply on
their verbal and then when it gotto the nitty gritty, that person lost
the home. That they wanted andthe rest grow deposit because they weren't transparent

(37:00):
with the lender and they didn't dotheir homework up front. They did it
backwards. They found the house andthen rushed, got an emotional excitement,
got under contract, and then foundout they weren't able to qualify. So
don't make that mistake. Qualify upfront, run your credit, verify your
income and what is on the irsincome with your lender, and that will

(37:21):
give you a much better track recordof buying a home and successfully closing.
Hopefully this show is helpful for you. Again when we aren't on air and
you want more real estate, deviceat the Duncan Duo and hit us up
at Duncan Duo dot com for afree home value estimate or an instant cash
offer on your property again at duncanduodot com. Thank you so much for
tuning in, and have an awesomerest of your Sunday, Tampa Bay