Duncan Duo 8-10-25

Episode Transcript

Speaker 1 (00:00):
I'd me Sunday, Tampa Bay, We're with you for another

(00:02):
week here on the Duncan Duo Real Estate Show, like
we are every Sunday at ten am on WFLA News
Andrew Duncan with the Duncan Duo, and we aren't on
air at the Duncan Dubo, Twitter, Instagram, YouTube, TikTok, and Facebook.
Just shot a video that'll be up on our YouTube,
which is YouTube dot com back Slash the Duncan Duo

(00:23):
where I talked about the real estate statistics and kind
of what I expect to see from the market. But
what I want to talk to you about first today
is one important point of the statistics that I talk about.
I think a lot of people are missing today. I
shot a video about a year ago pre Helene and Milton,
and I said that there were actually two distinct residential

(00:43):
real estate markets happening in Tampa and it was fee
simple single family homes and townhomes versus the condo market
because they were functioning and operating dramatically different. So at
the time and still today, single family homes are outperforming
condos okay, and townhomes because townhomes you own the land underneath,

(01:06):
you can get a low down payment loan and typically
you don't have as many obstacles with the associations and
boards causing you know, higher down payments or litigation or
not having the proper construction engineering reports on file or
any of the things that condos have problems with right now.
So condos right now are very saturated and prices are

(01:28):
are dropping, They're depressing. There are a lot of condo
communities with a lot of units on the market, and
it's causing prices to drop in those condo communities. So
the single family home market is outperforming that simply because
of you know, lower down payment opportunities, it being less
of a risky investment. You're not giving away of as

(01:49):
much of risk in terms of control over your asset
or decisions at the HOA make, and certainly insurance as
well as state regulations that condos have had to go
through and upgrade certain things so that we don't repeat
what happened in Miami with buildings collapsing. So anyway, I
shot that video about a year ago, and I saw

(02:10):
it the other day and I realized that I wanted
to kind of put today's spin on it and talk
about how there's really three distinct real estate markets happening
right now, and how the blend of them is causing
certain products in real estate to be looked down upon
when it's the other products that are causing the problems. So,

(02:32):
for example, I think we now have three kind of
distinct sub markets in the Tampa Bay residential real estate market.
The first one is single family homes and town homes
that were either not damaged by the floods or in
areas and neighborhoods that were not damaged by the floods.
Those products are actually appreciating. They're still performing pretty well.

(02:57):
There are you know, there are lots of studies and
data that can show this, but you know, if you're
talking single family and townhomes that weren't damaged or weren't
in areas that got damaged, they're performing pretty well. The
second part of the market, which is performing the worst,
are the single family townhome and condos that were flood damaged,

(03:18):
flood impacted, or close to flood damage or flood impact.
So what has happened with our average celle prices? I
see people saying, like, oh, our average cell prices are
off from last year and they certainly are. You know,
if you look at last year around this time, I
think we're around five hundred and seven to five hundred
and ten thousand was the average cell price. Today it's
in the four eighties. Last month it was the four seventies.

(03:41):
So it has crept up a little bit. It'll continue
to do that the further away from the storms that
we get because the more of that inventory that sells
at low prices, that pulls the average down. So that
storm damaged five hundred thousand house pre storm that sells
for three and a quarter pulls the averages down. So
evench enough of that will get sold that it won't

(04:02):
impact the market, and hopefully, knock on wood, we don't
have the same kind of storm impact this year. So
you have the storm damaged okay. Aspect of the market
that's performing the worst. Okay, And that's simply from a
fear standpoint. That's municipalities that are being highly you know,
providing high oversight to make sure certain things are done.

(04:22):
From a construction perspective, when homes are rebuilt permitting FEMA rules,
homes having to get you know, homes not being able
to be rebuilt or upgraded because of some of the
FEMA rules. All of that combines in to say that
is a that is a segment of the market that
is not performing well, and because those homes are selling
less than they did before, they're pulling the averages down.

(04:44):
So in some instances you might look at it and say, oh,
prices are down in Tampa, but they're down specifically in
a flood impacted product, and that's pulling the average prices
down everywhere else. So again the impact is probably worst there.
And then the third segment, which would be condos that
are not flood impact, it's still not performing the best

(05:08):
because there's you know, high inventory, still a lot of
the insurance regulatory stuff as well as high HOA fees,
and then still some of the Florida regulations regarding you know,
building a building code. So you've got three kind of
separations going on right now. If you have a single
family home that wasn't flood damaged, but flood damage is close, right,

(05:29):
it's also not going to perform as well. The areas
that are performing the best, where you're seeing the most
value gain and the least depreciation are single family homes
in town homes in areas that are far enough away
and had negligible flood damage or impact in and around
that property. So even if you say, oh, my property

(05:50):
didn't get damaged, but a bunch in your neighborhood did,
it's still going to hurt your asset because those are
going to be your comps and that's going to pull
you down. So that's kind of what's going on right
now with our real estate market. Really three separate things
going on, and three different product types that you have
to pay attention to. So when you're hiring a real
estate agent, you have to hire someone to understand which

(06:10):
which of those products types you are to put the
marketing plan in place, the aggressive marketing plan that's going
to get you sold today. If you're selling a property
that isn't isn't and wasn't flood damaged or even close
to being flood impacted, it is likely performed a little
bit better over the last year or two than the
other products. So I did review the stats as well.

(06:32):
We've had forty five hundred home sales the last several
months pretty consistently each month. That's a nearly forty percent
off of peak. So during peak we were forty percent
more or no you know, forty percent less than peak,
which means that we're probably more like you know, we'll
need a fifty plus percent gain in transactions to get

(06:53):
back to peak, So that tells you fewer transactions average
sale prices. Like I mentioned, we're still off year over
but we have seen some month over month gains the
last few months. Year. Every year we're off simply because
of that storm hangover, and the further we get away
from that, even with high interest rates, the less of
an impact we're going to see on deppreciation. We're going

(07:13):
to start to get back to balance and then eventually
hopefully some appreciation if we get some relief on rates.
But the biggest thing impacting our market is is definitely
still the hangover from the storms, more so than interest rates,
simply because of all of the insurance, the lower comps,
the fear that's there. There's no doubt that there are

(07:35):
plenty of people that even though the interest rates are high,
they can afford it, but are choosing not to simply
because the hangover, the hangover from last year storm and
the impact that's still present. So the further we get
away from that, the better our market will get. It's
funny I talk to a friend who runs a real
estate team in Louisiana with LPT Realty, and his market

(07:55):
over the last twenty years has been impacted a few
times by storms, and he told me that it would
take about a year and a half, assuming no other
economic condition changes, right, assuming you stay in a similar
economic and interest rate environment, it would take about a
year and a half for it to get back to
really kind of more normal. And so we're not quite
there yet. We're a year, we're a year past the storms,

(08:17):
or not quite a year. You know, we're approaching a year.
But the further we get away from them, the better
the market will work and the better the market will perform.
So again, we are on air at the Duncan Duo
and all the social channels YouTube, TikTok, Facebook, Instagram. I'm
the Andrew Duncan on on Instagram and Facebook, at the

(08:38):
Duncan Duo on x and or Twitter. What if you
still want to call it the old name, it's fine.
But at the Duncan Duo on all the socials. I
want to remind our listeners too. I have a commercial
division of my company, and you know my commercial agent,
Grant Holcombe, he runs. My commercial division has really been
knocked out of the park. It's got a couple of
multimillion dollar sales recently. So if you are someone that

(09:00):
is thinking about doing commercial real estate, one of the
obstacles I've had over the years of a commercial of
the commercial real estate industry is not getting callbacks real
estate agents that work commercial. I don't really know, like
if their phones just don't work, or if they're just
there're so fat from all the money that they're earning

(09:20):
that they just don't answer to the phone. But I've
had so many struggles personally inquiring about commercial real estate
over the years, and that's one of the things that
I think I can testify about Grant that if you
are interested in buying or selling commercial real estate and
you're frustrated, you're frustrated because you're not getting callbacks, because
the agents don't answer the phone, they don't show up
to show you the property, they don't give you any feedback.

(09:41):
Grant's got a nice diverse experience with a variety of
different commercial products, from leasing from retail, warehouse, industrial, automotive land.
We just sold a property on Waters Avenue that I
think is going to end up being converted into a
car wash we sold at church recently. So if you
are someone that it's interested in doing commercial real estate

(10:02):
buying or selling and you're frustrated with the lack of
responsiveness and the lack of energy, which again I have
personally experienced many times, just hit up Grant. You can
call our office at eight one three three five nine
eight nine nine zero. You can text to that same
number again eight one three three five nine eight nine

(10:23):
nine zero. If you go to the Duncan Duo dot
com and you go to our agent roster, you can
look up Grant as well. You can contact him directly
and he would be more than glad to assist you
with with any commercial real estate needs. But there is
no question that is one of the most frustrating things
about you know, Grant's job and mine sometimes, you know,

(10:43):
when I'm when I'm representing my own interest and looking
at possible commercial properties, the lack of responsiveness. I think
a lot of commercial real estate brokers are still stuck
in the twentieth century, you know, from a from websites,
from communication to responsives, from texting and AI and all
these things. Just it's wild to me that so much

(11:05):
opportunity get so much income, an opportunity comes to the
commercial real estate space, but you know, phone calls can't
get returned, and text messages and emails can't get responded to.
It's it's absolutely baffling to me. So I can one
hundred percent testify that the same services and standards that
we have in our real estate business for responsiveness, and
that's why I have, you know, probably the most you know,

(11:27):
five star reviews in Tampa on Google for a real
estate company. We're going to have that same kind of
responsiveness on commercial with Grant. So if you are struggling,
you're unhappy, you've you've not gotten the response that you deserve.
Maybe you've got a property that didn't sell, that didn't lease,
you're a buyer that's looking for property and you can't
get a broker to call you back. Hit up Grant.

(11:49):
It is a it's an epidemic, it really really is.
It baffles me every day that it's such an enormous
industry and so many of the companies just don't operate.
And again, there are some good ones, but there are
a lot of them out there. Where I've called on
properties and I've expressed interest and I'm an end user
buyer and I'm not even worrying about commission. I just
I just want to buy the property. And lack of response,

(12:12):
no information, no response, no callback, And I hear a
time and time again from my business owner friends. So
if you're struggling in that area, we've got you again
the Duncan Duo dot com. Just scroll and find Grant.
Grant Holcom is his name if you Google him, or
call our Texas at eight one three three five nine
eight nine nine zero. So I want to talk next.

(12:34):
There's so much happening in the AI space with real estate,
and I want to talk next about our home value
tool that's really incorporating AI. And I want to share
that with you after I take a quick break, So
I'll be back here on the other side after 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 AI is absolutely changing

(12:59):
the game for real estate and real estate marketing. But
it's also a slippery slope. Andrew Duncan the Duncan do
a TMLPT Realty. It's a slippery slope because there's so
much editing and video creation abilities that are out there
that it's also a slippery slope because it can make
the property not actually look like the property, and you

(13:20):
have to be careful. You have to have truth in advertising.
If you edit a listing photo to remove everything from
the room and then change the colors and do all
these things effectively, you're falsely advertising because that customer is
going to show up and be like, wait a second,
this isn't the house. There's junk everywhere. So we have
clients all the time saying, hey, you can pop this
into grock. You know, you can use imagine, you can

(13:42):
use things. Look, I use these things every day. But
you also have to understand that if you go too
far with it, you're gonna have really ticked off customers.
You're gonna have complaints. Your home is not going to sell.
People are going to be let down. You can't go
so far with the editing that it looks like an animation. Okay,
it has to look real. It has to be authentic.
It has to represent the property that they're actually getting.

(14:02):
So of course you can edit, you can brighten, you
can improve saturation, but changing colors and changing floors and moving,
you know, like uh, you know, moving things around, and
oh well, you can hide the stains in the driveway,
the stains in the driver are still going to be
there when somebody buys a home. If I remove the
stains and they're there, then they've got a right to
you know, cancel or make a claim. So a lot

(14:24):
of customers have to understand that it is a very
slippery slope when it comes to photo editing right now.
But one thing that I think AI has brought to
the real estate table it's pretty amazing, is the data
from home from a home value perspective. We have a
service and you can go to Duncan Duo dot com.
You can type in your address. We're actually using AI

(14:45):
data as well as data from every known source out
there for home values. So for example, there's some really
big websites everyone goes to that they look up their
home value, okay, and they're using their own data, and
a lot of times it's wrong. It's massively wrong. I've
sold homes for hundreds of thousands of dollars above those valuations,
and I've sold homes for hundreds of thousand dollars below

(15:06):
those valuations. The data is just from one source. What
ours does at dunkinduo dot com is we're blending the
sources from all of those places, from all the major
real estate websites that give out home value, you know,
from other automations, and we're weaving it into AI. And
that's how we're determining and updating and keeping you up
to date on your value. So we're putting AI to

(15:30):
use through our tool with Fellow. So again, if you
want the most up to date value for your home
that uses all the data, just go to dunkinduo dot
com and look, it's not full proof, okay. AI is
not full proof. It can't replace real estate agents and
it can't actually walk through your house. It's using data.
Sometimes it's evaluating images. Okay, if there's images of your

(15:50):
property out there, it can help with that. But also
we've had people say, hey, value my property. Here's the
images from when I bought it. Okay, they bought it
three years ago, and then we go out to look
at the property and it don't look like it did
three years ago. Okay. So it's like you know, I've
looked at cars before where the guys tell me, oh yeah,
it's perfect, and then I get out there and they
sent me photos from when they bought it, when it

(16:11):
was perfect. Now it's beat the crap, okay, So you
have to understand it. It can only go the data
can only go so far where you still have to
have a human element to it or really really recent
photos and videos that aren't you know, AI edited to
make it look like it doesn't look okay. So but
our home value side at duncan doo dot com again,

(16:31):
it's using AI. It's going to keep you updated and
then we have the human element, so our agents review
those home value increase and then we're going to reach
out to you. And of course if you're not interested
in selling, that's fine, We're still going to reach out
to you to offer you the service of saying, hey,
is your is there anything different about your home? You
know than what public records show? Have you made upgrades

(16:52):
or improvements. We're going to try and get you that
most accurate value that we can give you because we're
going to take all the AI and all the data
it's blended together to give us what we believe is
the most accurate value in the marketplace, and we're going
to turn around and then add the human element, we're
going to make some updates to it. So again Duncan

(17:12):
Duo dot com and that actually works. Our website works
for property anywhere in the country. So uh, the service
that we use is opted into by agents nationally. So
if you did want to sell, we could certainly refer
you to an agent in that market. But if you
own a property in Chicago or Indianapolis, or Los Angeles
or New Mexico or Tulsa, no matter where you own

(17:35):
a property in the US, if you go to Duncan
doo dot com, you can type in your dress and
it's going to spit out a home value for you.
And then there's going to be a human it's going
to reach out and say, hey, how can I help you?
You know, are you just thinking about it? Are you
just you know, what is it that you're wanting to do?
And you know, how can we update your value? What
do you think is wrong about it? What are the
features you're home that have improved or not improved since

(17:59):
you bought it? So hopefully that can help some people
out there get the right data. Everyone wants to know
what their home is worth. Everyone wants to know what
their neighbor's home sold for. They want to know the
goods on the neighbors that they have. Here's another one
that we get a lot. You know, I got a
neighbor that you know, your nosy neighbor right If you're
sitting at home right now and you're curious, you know
or any of your neighbors in foreclosure? Have any of

(18:20):
your neighbors been missing their mortgage payments? That's all information
you can get if you plug in your address at
Duncan Duo dot com. It's gonna give you kind of
the landscape of the neighborhood and you're gonna be able
to poke around and see some information about what's going
on in the hood. So, and if you're a real
estate agent, it's a tool that we offer to everyone
that joins our company. It is an incredible tool that

(18:41):
allows our agents to communicate better with their clients, keep
them updated on interest rates, which we know there's going
to be some changes to that in the future, as
well as just an extra tool to keep real estate
information that's sticky and valuable with their own customized dashboard
in front of their clients. So, if you're a real
estate agent, you don't have that, maybe you're unhappy where

(19:02):
you are, maybe you're looking for a new opportunity. We're
definitely in growth mode. We're adding agents every single month.
You can go to join the Duo dot com. You
can reach out to me on any of the socials,
and you can apply directly for an open position. You
can also set an appointment on our calendar to have
a consultation, a private, confidential consultation about what it is
that we do differently and why why we are going

(19:24):
to thrive regardless of what's happening in the marketplace. But
I want to preface that by saying that we want
real estate agents that are going to work. If you're
somebody that just you know, that just wants money to
rain from the ceiling, that we're not the place for you.
You know, we're the place that money can rain from
the ceiling, but you're gonna have to do the work. So,
if you're a worker, if you're a team player, you

(19:45):
want to be part of something bigger and special, and
you're not achieving the success that you want, we want
to help you get there. We want to hold you
accountable to your own goals. So just hit us up
at Jointduo dot com. Be back after a quick break
here on the Duncan Duo Show. So Rack here on
The Duncan Duo Show, talking about the Tampa Bay realist market.
You know it's funny. I shot a video the other
day I posted on my Instagram story and again Andrew

(20:07):
Duncan the Dunkin do a temlpt realty. And I thought
it was funny because if you're a real estate agent
listening to this, you'll completely understand. If you're not a
real estate agent, but your friends with real estate agents
and you witness what they do online or you know
the groups that they're in or their comments online. You know,
I have friends that own a variety of different businesses.

(20:27):
And one of the things I think is really funny
about the real estate business that I want to share
with our listeners, whether you're real estate agent or not,
is that real estate agents have these groups, like these
Facebook groups, right, and what they base what it basically
is half the time is people asking for help or
asking what they should do, and then a bunch of
comments from people that really don't know what they're doing

(20:48):
because they're on Facebook during the day instead of actually
working and growing a business. But the one that cracks
me up the most is the one where, uh so,
someone will make a post about a real estate agent.
Sometimes it's me, sometimes it's someone else. Everyone will critique
and them what they're doing wrong. And most of the
time that people critiquing them and doing wrong are not
actually operating at a high level. They're they're they're not succeeding.

(21:10):
So I just think it's laughable that you have this
entitlement in real estate where real estate agents think that
they have an entitlement to tell people they're actually succeeding
and doing the business what they should be doing differently.
It's laughable. And I talked to my other business owner friends,
and if you're a business owner, I'm sure this may
ring true with you, but you really don't see that
in other industries. Like I've owned other companies and have

(21:31):
friends in other companies, and there aren't like Facebook or
social media groups for like you know, contractors or plumbers,
or AC companies where AC company employees go on and
talk trash about other AC company employees and tell them
how to run their AC business. Or plumbers like you
know plumbers social groups where you know they sit on
because they're actually out working the reason the real estate

(21:53):
industry has such a high failure rate is because so
many of them aren't working because they're sitting online making
comments on Facebook groups about other realtors and not actually
doing any work. The plumbers and the AC people and
the contractors, they got jobs to do. They're out there working.
They're not sitting around all day doing nothing. They're actually
calling their clients, they're going on meetings. They're busy. So
it's funny, like people say, oh, why do the real

(22:14):
estate agent? Why is the success so bad in real estate?
Why do so many people fail? And I honestly think
it's because half of them sit on Facebook groups all
day and just talk trash and waste their time. It's
not productive. You're not making any business. They're your competitors. Like,
you're not getting better doing that. You're not helping your clients.
You know, it's just laughable. So, but I'm curious if
you're a business owner, maybe I'm wrong. I talk to

(22:37):
a few of my friends that are business owners, and
I have owned businesses in some of those niches. If
you're a business owner, are there are there AC company
Facebook groups or other AC companies talk trash about other
AC companies or like plumbers or contractors, or lawyers or
insurance agents, like I don't think it exists the same
in other industries. I think real estate is unique in
that it's sometimes a bit a bit interest thing with that.

(23:00):
So one unique thing about real estate that I'm that
I always get challenged with is when you have someone
who really doesn't do much business, but then they want
to tell you everything that you need to do differently
because clearly they have it all figured out. So anyway
you're listening to Dunk and Do a real estate show
talking about the Tampa Bay real estate market, I talked
in the first segment about the real estate statistics and

(23:21):
how I think Tampa Bay has three unique markets right now.
You know, the flood impacted, the non flood impacted single
family and townhomes, and then separately condos. So our market
it's a bit confusing sometimes when you try and blend
all that together and kind of make a general statement
about what's going on. But the storms and then the

(23:41):
stuff that's happened with condos kind of segmented out each
of those into sub markets, so it's it's definitely unique.
And then the last segment, I talked about our home
value tool a dunkin duo dot com where we're using
AI as well as blending the data from every single
source that we can find. And so if you want
the most accurate home value assessment for your home, where

(24:04):
we can actually over you know, we can we can
overcome the data in accuracies. So with human element. So
there's times where people go online and we'll say, oh, well,
you know, I went onto your website and it's wrong. Well, great,
then we can go in an updatea let's have a conversation.
We can update your value so that it's you know,
so that it's being conveyed properly and appropriately if anyone

(24:25):
ever looks it up or gets curious, at least in
our website. So there's a human element because again, data
and AI aren't perfect. If you've if you've used them
and tried to edit an image and it blurs somebody's
face or it gives them seven fingers, it's not perfect.
That it's it's it's getting better every day, but it's
not perfect. It's the same thing with real estate data.
All these data sources that pull all this data together.

(24:47):
It's not perfect. So sometimes we'll have customers plugging in it.
If it's not accurate, let us know. We'll work on
making it more accurate and helping you get the most
accurate you know, the most accurate value for your home
again at dunkin duo dot com. So what's next for
home prices in Tampa Bay. Look, there's no secret I've
talked about this a lot. If you're a home seller

(25:08):
selling your home right now, you have to be very
aggressive with your price. The idea that you can speculate
and put it at a high number when prices are
dropping in a lot of neighborhoods, and when the averages
and the statistics all point in a not a great direction,
I think a lot of that swings back the other
way next year in the following year. That's my opinion.
If we get property tax relief, if we get capital

(25:30):
gains tax relief, if we get interrastraight relief, all these
things could point towards twenty six or twenty seven being
really good real estate years. But there's still some risk
out there. But right now, if you have to sell
your home, if you need to sell right now, you're
going to have to be aggressive on your price. But
you have to understand if you're selling to buy, you
can be aggressive with what you buy too, because then

(25:51):
you get the advantage on the buy side that you
don't get on the sell in most circumstances. So if
you're selling and it's not moving, it's the price. I
have person properties on the market right now. If I
put them on and they haven't moved in a month,
I'm lower in the price. If you're not doing the
same thing as a seller and you're sitting at that
same price, you're missing the market and the market is dropping.
And by the time you drop your price are going
to be behind it. Somebody in your neighborhood is going

(26:13):
to undercut you. They're going they're gonna be more motivated
or be in a better equity position, and they're going
to undercut you, and they're going to be the next
one that sells. So price is everything right now, And
I don't think in Tampa Bay prices will have any
kind of dramatic movement in the fall. Buyers have more options,
inventory grows in the fall, prices could rise slowly in

(26:36):
some markets. I don't see much of that happening in Tampa.
We could see some month over month improvement, but annually.
I think we're still going to be off annually on
our average and medium prices because we still have the
we still have the hangover from the storms. But a
recent study said that even six percent mortgage rates would

(26:58):
leave it out of leave things out of reach remote consumers.
Of course, where they're at right now is high. Six
is if we get down two six by the end
of the year will help the market. Of course it will.
But are we going to see peak type transaction numbers
and value increases? No, because it still keeps things out
of reach. This study said that rates would need to
drop to four point four percent for a typical home

(27:22):
to be affordable for someone making the median income. Now
keep in mind this is nationally. Our market doesn't necessarily
mirror nationally. But if buyers are waiting for big drops
and mortgage rates or prices to help affordability, they're in
for a root awakening. It's not happening anytime soon. And
the reality is is when interest rates do drop, prices
will dramatically rise. We're certainly not going to see interest

(27:44):
rates massively cut this year unless there is some sort
of political shakeup that removes the FED chair of multiple
FED governors. The last time I looked, there were only
two dissenting people. The majority of the FED governors felt
rate should still be down. And while interest rates in
the mortgage market aren't completely tied to the FED, they

(28:04):
do have they do have some impact. So, for example,
if the FED lowers rates a quarter point or maybe
a half point by the end of the year, of
course it's going to have some positive impact, but it's
not going to have some massive swing. The massive swing
could come maybe by twenty six or twenty seven, depending
on you know, replacement FED chair and how aggressive the

(28:27):
FED rate cuts are. Certainly there are there could be
some negative ramifications from that as well, which I think
is kept the FED from doing it so far. But
the affordability with higher rates is still an obstacle. That's
going to keep our market probably similar to where it is,
and we're not going to see huge swings in price.
We're not going to see huge swings up. We're not
going to see huge swings down. It's going to kind
of be stable. But I think in a lot of

(28:49):
neighborhoods we'll see a little bit of appreciation and a
lot we'll see a little bit of depreciation. So it
really is going to be neighborhood dependent for the rest
of the year. And like I said before earlier in
the show, it's also going to be dependent on did
that area have impact from Helene and Milton or not?
And how far away from the impact is it that

(29:09):
comps from you know, you know that there are no
comps in there that are storm impacted or flooded or
pulling the comps down or discouraging buyers from one to
buy buying into those neighborhoods, so that all has there's
no question that all has an impact. I also want
to talk to people about flood insurance. Look, we're there,
it's the season, all right. Storm season is upon us

(29:31):
the next few months or peak. We've already saw We've
already seen Dennis Phillips out there talking about you know,
you know, some depressions and things going on out in
the ocean. Nothing imminent at least for Tampa Bay now.
But I can't I can't encourage people enough to get
flood insurance. If they don't have it, you need it.

(29:53):
It is catastrophic if you don't have it and you
have a major impact the majority of the you know,
not the majority but a large percentage of the people
that were impacted by Helene and Milton did not have
flood insurance and got crushed. It is not a lot
of money. I believe that if you were a homeowner today,

(30:14):
you can find a way to afford flood insurance. Most
people can. Okay, of course, if you're in a you know,
if you're not making your payments or Delinklin or something,
of course you may not be able to. But if
you can't afford it, you can cut out the trips
to Starbucks, maybe buy some Generica groceries, you know, maybe
take a few less trips in your car, you know,

(30:35):
car pool, whatever you can do to kind of get
a budget to where you can afford it. If it's
not required for you, if you're not in a flood zone,
it won't be as expensive. You know, it's more expensive
for people that are in a flood zone. If you
have a mortgage and you're in a flood zone, you
pretty much have to have it or they will force
place it on your property. But flood insurance is just

(30:56):
it's vital, it's crucial. There's so many people that need it,
and every time we have a bad storm in Florida,
and I see the amount of people to get crushed
and didn't have it, and I think to myself, Man,
I bet they wish for those hundreds of thousands that
they lost that they had spent five or seven hundred
bucks on flood coverage if they're in a non flood zone,
because that's probably the range that it is for the
average home that's not in a flood zone, maybe a

(31:18):
thousand even Even so, I think most people that own
a home can afford that if they if they tighten
up some other things, and it is a lifesaver should
things happen and go south with a storm. Hopeful we
don't have it, we may again. And now is also
the time to kind of do all the prep stuff,

(31:40):
you know, get your generator cleaned up, get you know,
get your stuff in line, get everything you can possibly
do to prepare your property. You know, batteries, plywood, sand bags,
you name it. Now is the time to get that
stuff together. So if if you're somebody that preps, start

(32:03):
the prep now. If you want to buy materials the
day the day before the storm, you're gonna you're gonna
be short. Get ahead of it now, avoid the rush.
Buy the stuff that you're gonna need now, because if
you wait until there's a storm out there, it'll be
too late. And the same goes for insurance. We'll have
people that'll wait until there's a name storm. Once there's
a name storm out there, the carriers aren't writing anything.

(32:23):
You got to do it before storm seasons. So hopefully
that's helpful to you and you make those, you know,
proper steps, you get prepared. And I would love for
us not to have any impact this year, but unfortunately
we probably will have some. Just depends on you know,
how much the impact is. We'll be back wring a
wrap up show with our last segment after a quick

(32:43):
break here on w FLA News. So back here on
the Duncan do a real estate show talking about the
Tampa Bay real estate market. And if you are a
long term real estate investor in residential real estate, you
buy and own rental properties. Andrew Duncan Duncan do a
TMLPT realty I think now is probably one of the
best times to acquire those assets that we've seen. And look,

(33:05):
rates are a little high if you're financing, if you're
cash great, but if your financing rates are a little high,
so that puts a puts a spin on things. But
when you compare what Florida offers and Tampa they offer
to other parts of the country. First off, you know
you can't avoid taxes, obviously, but Florida investors come close

(33:25):
no state income tax and the middle of the road
property tax percentage. Operating costs day low and manageable. The insurance,
certainly with flood insurance, can be an obstacle for some,
but I think long term assets that you're buying right now,
you get a great opportunity to buy at discounted prices
because the market is soft, rates are high, you can

(33:47):
negotiate on price. When the market prices go up, which
I think they will in twenty six and twenty seven.
I think a lot of the people that buy right
now will be sitting pretty and do incredibly well, especially
if they buy for the long haul, because that's what
rental property owners. Their goal is not to acquire properties
to turn around sell them in a year. They want
to buy them and own them for life. And I
think we will get back to appreciation, we will get

(34:08):
back to lower rates, certainly not as low as we
had during COVID, assuming hopefully we don't ever have that again.
But Florida is number two in the country when it
comes to landlord friendliness. Okay, so you may look at
other parts of the country and think, man, the prices
are doing great there. I don't have to worry about
floods there. But some of the nice things about Florida

(34:31):
for landlords, they don't mess around when rent goes unpaid.
Landlords can serve tenant's a three day notice for non payment,
and the eviction case is typically resolved within two to
four weeks. There's also no rent control and presently decreasing
home prices and still massive demand for people that want
to rent. So it is one of the most landlord

(34:55):
friendly states in the country where a landlord friendly market.
If you're buying for the long term, it is a
great opportunity to buy, you know, rental property here because
of those things. The rent control is a big one.
Some of the most landlord unfriendly states. You know, California
has strict rent caps, high income taxes, costly squatter protections

(35:17):
that turn rental ownership into an uphill march. New York
rent control just cause eviction laws, ten at friendly courts,
same New Jersey, Oregon, Washington, Illinois, Maryland, Minnesota, Massachusetts, Connecticut.
Probably make an assumption when I name every one of
those states about what the political environment is there, But

(35:38):
those are the ten worst states to owned real estate
from a rental property standpoint. Are If you look at
the ten best in the country, you know you've got Florida, Arizona, Indiana, Texas, Georgia,
and North Carolina at Ohiogan very very conservative. So if
you're a landlord and you want to own property in

(36:00):
one of the states that is much more challenging, probably
not the greatest place to invest your money. Florida is
a great opportunity. Text this obviously is a great opportunity,
and that's something we do. We have agents that specialize
in that. So if for somebody that wants to acquire
rental properties, I can tell you right now it's the
same thing with the stock market. It's the same thing
with any market. The best opportunities are the ones that

(36:22):
aren't on the market. So when we work with rental
property investors, a lot of times we're trying to find
them stuff that isn't out there anywhere else that that
it's off market, that we have an exclusive opportunity with
maybe we own we know the seller. Maybe one of
our people has a fund that owns a lot of property.
So so that's something that we can help landlords do. Certainly,
we can help them make offers on stuff that hits

(36:43):
the market. We can call brokers, we can we can
set up the MLS searches. But the thing I think
that we offer the most, and this is to you know,
both commercial and people looking to buy rental properties, is
you know, kind of doing that bird dog work to
find you opportunities that no one else knows about. That's
those are the best opportunities on the market. Enormous database,
two hundred and seven two hundred and seven thousand people

(37:05):
in our database, so we can cross reference and search
by the property types that are owned by them to
try and find off market opportunities for investors that we represent.
So if that's something you're looking for, if you're a
landlord you want to acquire more properties, hit us up
at the dunkin Duo dot com. Again that's the Eduncinduo
dot com. The medicine inquiry. You can also call or

(37:26):
text us at eight one three three five nine eight
nine nine zero and again we are hiring real estate agents.
So if you're a real estate agent listening and you're
not having the success that you want, you're not hitting
the sales numbers that you want, and you want to
work because that's the key. This is not the market
for money to rain from the ceiling. Okay, This isn't
the market where everyone can get in and you know,

(37:48):
anyone with a pulse can sell a house. This is
a market where you can be successful. And if you
establish the right principles and work ethic and the right
system now at the right team and operation, and you
lean into accountability and structure, this is the time to
prepare yourself to start doing well now, but to really
crush it in twenty six and twenty seven when the

(38:08):
market starts sprinkling economic improvements on top of what the
habits that you form now that will allow you to
really prosper. Then, if you're in it for the long game,
we would love to talk to you again. You can
hit up Jointhduo dot com again, that's Jointhduo dot com.
And like I mentioned, I believe we will see twenty
six and twenty seven potentially some record breaking real estate

(38:30):
stuff based on everything that's being discussed some of the legislation,
the tax relief, the interest rate relief, all those things
I think are pointing towards us seeing better times in
real estate in twenty six and twenty seven, And a
lot of people will wait until then to start doing
the work and they'll be behind. If you start doing
the work now, you get to the right place. Now,
you can set yourself up for a long and prosperous

(38:51):
real estate career by making those choices now. So if
that's you, if you want to change, or if you're
just thinking about it, you know what, I've been thinking
about real estate for a while. I think markets like
this are the best long term time to get into
real estate because you're gonna get the right habits and principles.
You're gonna work hard, you're gonna reach out to your clients,
you're gonna stay in touch, you're gonna grind, and you're

(39:13):
gonna establish that work ethic. And then when the market
sprinkles its economic goodness honest in twenty six and twenty seven,
on top of the fundamentals that you have, you'll succeed.
So if that's you, join the duo dot com. We'd
love to set up a confidential consultation with you, or
you can directly apply for any of our open positions.
Thank you so much for tuning in, and have an
awesome rest of your Sunday, Tampa Bay