Episode Transcript
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Speaker 1 (00:00):
Welcome to the Business Happy Hour radio show with your host,
Frank Debank Coodo, the owner of Lincoln Lending Group, right
here in Tampa Bay for twenty three years, joined by
his incredible co host, Senia Akishana, realtor with Mahara Associates.
Speaker 2 (00:15):
Tampa's top real estate company.
Speaker 1 (00:17):
Together they have helped finance and clothes nearly one billion
dollars of real estate every year.
Speaker 2 (00:23):
If you're looking for local mortgage.
Speaker 1 (00:24):
Or real estate advice, the Business Happy Hour team has
been right here on news radio WFLA for over a decade.
Speaker 2 (00:31):
Listen right here or.
Speaker 1 (00:32):
Find us on the Business Happy Hour YouTube channel, or
follow us on Instagram at Frankdbankkodo. Now, sit back, relax,
and get ready for some serious mortgage, real estate and
business talk with two of Tampa's top experts. Here's Frank
the Bank and Senia.
Speaker 3 (00:47):
Hey Tampa Bay, Welcome back to the Business Happy Hour,
your number one show for all things business and entrepreneurial.
I am your host, Frank the Bank Coodo, the owner
of Lincoln Lending Group and eight one three Mortgage dot
Com in studio. It's a special day today. It's just
city a night today welcome to the business. Happy are
(01:08):
thank you, James. I know we're starting a little later today, guys,
first Tuesday of every month, Frank the bank has a
big event over at the Northdale Owls. So I do
want to put this out there real quick because you
don't even know who the Owls are, which, by the way.
Speaker 4 (01:20):
So I had no idea you had an event every
first Tuesday.
Speaker 3 (01:23):
I have your Christmas present and Ray's sitting in the
back of my trunk and I totally keep forgetting to
give it to you. So, guys, it's not my Christmas jacket,
but Cennia made me think of it when she called
it a Christmas jacket. This is my Valentine's Day jacket,
because this is our Valentine's Day show.
Speaker 4 (01:40):
It is, I guess it's sorry, can you believe this?
Speaker 3 (01:43):
Like fly by? So, so if you guys are watching Instagram,
you're sitting here like god, dude, it's not Valentine's say. Yeah,
but our radio show is recorded on Tuesdays and we
air on Saturday and Sunday, which is going to be
what's that date, the eighth and the ninth.
Speaker 5 (01:57):
Well, you're a little bit so the night but yeah,
I guess the next and it's hurting me past.
Speaker 4 (02:03):
We're gonna air on Super Bowl Sunday though, Oh.
Speaker 3 (02:05):
My gosh, super Bowl. Okay, so we are talking about
the Super Bowl. What I was about to say is
today's a really cool show because a lot of times
Senny and I have awesome guests for you, but today
it's just SENNI and I. So we are going to
focus on real estate, and we're going to talk a
little bit about some mortgages, some specific products. We're going
to be giving some buyer tips. We're going to give
some seller tips. I'm gonna ask sending us some questions.
(02:27):
We're going to talk about possibly what happens when a
deal doesn't work out the way it's supposed to work out.
How does that affect you as a buyer or a seller.
We're going to talk about reverse mortgages. We're going to
talk about the difference in doing a cash out refinance
or getting a home equity line of credit. That seems
to be a big question that keeps popping up. But
(02:49):
by the way, if you are an avid watcher of
the show, what's up Robbie, thanks for joining. If you're
an avid watcher of the show on our Instagram. The
first Tuesday of every month, we have the Northdale Owls.
If you are I think they say over fifty five.
I think that's the rule. You got to be fifty
five or sixty to join the Owls. The Owls is
(03:10):
an event in Northdale at the Recreation Center and the
first Tuesday of every month there's like three hundred people.
There's live entertainment, there's booths, there's giveaways, there's a little dancing,
there's a lunch that they provide to. You got to
join the organization. It's the Owls and it is for
people in their golden years who would like an awesome
event to go to in a big, cool community. So
(03:31):
I am one of the bigger sponsors for the event.
We educate on reverse mortgages there and other things. And
I had to speak on stage today and do some
fun stuff for the Valentine. So that's why the way
why I'm wearing my Valentine's jacket, because there's there every month.
They have a theme, right, so everybody was in red
with hearts today and all that.
Speaker 5 (03:50):
It's fitting because I think somebody asked you when you
were that to the Christmas party, like, oh, Okay, that's
probably the one time a year you can wear it.
Speaker 4 (03:55):
But no, that's perfect for Valentine's Day too. There you go.
Speaker 3 (03:58):
That's right, and let me think of there another No,
that's probably it. Yeah, Valentine's and Christmas. I can get
away with this jacket. My wife would She sees me
pull it out of the closet, she goes, where are
you going? So anyway, by the way, if you guys,
two people came up to me ascid word, do I
get my jackets? Actually, William Lewis is my habitat sure habitasher.
It's Billy Lay, the former mister man over at University
(04:21):
Mall in Tampa Bay Mall for like forty years here
in Tampa. If you guys remember mister man, if you
would like some awesome custom clothing shameless plug. He didn't
ask me to do this. People just asked me today
where I got it. And the guy actually makes these jackets.
He's super awesome. Do anything you need? So whoa, that
was a lot. I didn't even have my notepad in
front of me. But I will say we're now on
(04:41):
three channels. Do you remember the three were on?
Speaker 5 (04:44):
Oh goodness, I'm the wrong person to ask. I've just
been saying, hey, I'm like three other channels.
Speaker 3 (04:49):
James helped me out. Okay, we got our nine to seventy,
we got twelve fifty, W H and Z which is
also an AM channel. And the last one, what's the
f N one one oh five point nine. I knew
James Burlander would know that answer. It's one oh five
point nine FM, and that's on Saturdays at ten am
AM twelve fifty Saturdays ten am and then I think
(05:09):
I'm saying that right and five am? Is it? Is
it five am on Saturdays? Oh? Well, I guess I
guess we got the same time slot on Saturday and Sunday.
Speaker 4 (05:17):
I'll make a little cheat sheet for next time.
Speaker 3 (05:19):
Yeah, right, half out with that. James isn't here, then
we'll need that cheat sheet. But anyway, so you got
you guys can hear us both day Saturday and Sunday,
five am. Happy Valentine's Day to those of you who
are listening to us on the radio. It's coming up.
Hopefully you have something ready to do for your sweetie.
What are you doing? What are you doing, Sya? What
are you doing for Valentini?
Speaker 5 (05:36):
You know why my birthday is actually coming up too,
and it's right before Valentine's Day, So I'm plants, hey,
can we just do a combo of the two, which,
you know what, I'm totally fine with that. I'm still
like getting over the holiday season. It's just it's always
too much for us with just all the you know,
American celebration, the Russian stuff that my mom likes to do,
and then we have the birthdays that start up right away.
Speaker 4 (05:57):
And yes, I'm totally fine.
Speaker 3 (05:59):
Come when are your kids birthdays? What months are they in?
Speaker 5 (06:02):
So I get a January okay, then February, I mean
I'm in February, yeah, coming up. And then my daughter
is in April okay, so there's another big one that
I celebrate in March.
Speaker 3 (06:13):
And so you're you're similar to me. You've got you've
got your December, January, February, April, like, right, I've got November, December, January,
and then it's over.
Speaker 5 (06:23):
Well yeah, no, I got September, November, December, January.
Speaker 2 (06:27):
Yeah.
Speaker 5 (06:27):
Like my dad had a huge one this year, my
mom had a huge one, and it's it's just a lot.
Speaker 3 (06:32):
I love it. I love it, I love I like
I like getting out there. So what my wife and
I try to do for these little things anniversaries, Valentine's Day,
we have really taken to the staycation right, pick a
place that's close, you know, maybe an hour drive hour
and a half at most, and just get a hotel,
(06:53):
get you know, drop the kids off at school, drive
straight to the location. Like this year we're going. Believe
it or not, We've never been to Anna Marie Island.
I've really born and raised in Tampa. Have you?
Speaker 4 (07:03):
That was like my favorite beach grown. I love Anna
Marie Island? Are you kidding me?
Speaker 3 (07:07):
I'm gonna need tips because literally Nicole and I we
picked out this place called the bally High. Have you
heard of it? I don't know anything about Anna Marie.
Speaker 4 (07:14):
I haven't.
Speaker 5 (07:15):
We used to just stay thinking little like private condos.
But I mean, are they How are things in Anna
Marie Island?
Speaker 3 (07:21):
So all the research online says that they're doing relatively good.
There's still a lot of obviously destruction, but a lot
of the hotels have reopened. That's why we chose this place.
They said a lot of the restaurants are there, So
the other reason we chose it. I'm glad you kind
of said that is we wanted to support the local businesses,
and we thought, you know, if these guys are struggling enough,
there's a lot of people not coming from tourism. So
(07:42):
I said, if we're gonna choose something, why don't we
choose something that was in one of those potentially affected areas.
And she looked at me. She's like, Anna Marie, like
I've never been there, So I guess it's gonna be fun.
Speaker 4 (07:52):
You guys will love it.
Speaker 5 (07:53):
Yeah, just the sand is unbelievable, and just the whole
vibe that little, you know, downtown area. I don't know
if you call downtown, but just like your little beechy town,
plenty of good restaurants, and it's just so.
Speaker 3 (08:04):
We're gonna need something. We're gonna do that. We're gonna
wake up, take the kids school, drop them off, be an,
Anna Marie hopefully by like nine thirty in the morning
is what I'm hoping. Hoping. We're gonna get bicycles, drive
the little bicycles around. I heard people like, you're dropping
the kids off.
Speaker 4 (08:18):
I mean that's the way to go.
Speaker 3 (08:19):
Yes, Yes, that that is how we start all of
our staycations and our trips. That we go to like
around the Florida area. Is you drop the kids off,
you get on the road. It's awesome. And of course mom,
thank you nanny for picking them up in the evening
and uh taking them to school the next day and
then we come home and you know, then we got
Valentine's Day. So, by the way, another trick, don't celebrate
(08:41):
Valentine's Day on Valentine's Night. If you like to actually
get into a restaurant and you know it's a.
Speaker 4 (08:47):
Little wild, I'll do it on my birthday night.
Speaker 3 (08:49):
What's you you want to say?
Speaker 4 (08:50):
Oh, no, it's actually gonna be on Super Bowl this year.
Speaker 3 (08:53):
Your person.
Speaker 5 (08:53):
Now I'm wondering, Hey, are people going to be like
a bar is actually doing the whole football thing?
Speaker 4 (08:57):
Do we need to make a reservation somewhere or are
gonna be pretty dead? Well if you go somewhere like nicer,
you know.
Speaker 3 (09:03):
No, yeah, you're right, I would agree. If you go
to a nice restaurant, it'll probably be dead.
Speaker 4 (09:07):
But I'm hoping.
Speaker 3 (09:08):
Do you know that Super Bowl Monday is the most
requested off day of work in the United States of
any day of the year. The Monday after Super.
Speaker 4 (09:18):
Bowl, it should be a holiday.
Speaker 3 (09:20):
It should be, but it begs the question. Jack James said,
it should be a holiday, but it beg that bangs.
It begs the question. Why do they do it on Sunday?
Why would they not do it on Saturday? Like, wouldn't
you think that might be better for revenue too, for businesses?
They'll be there and people be there another day. It's
not Monday. I don't know, So.
Speaker 4 (09:39):
Throw it out there somewhere to the people.
Speaker 3 (09:42):
You know, Yeah, I am. I'm gonna I'm gonna call
the commissioner of the NFL right now and ask them.
We do know a couple football players. I guess we
could ask some of those players. Oh, Tony Dungee, We're
gonna ask him when I bump into him at the
kids' school next time. Which found what a stand up guy.
Speaker 4 (09:55):
By the way, good luck with that.
Speaker 5 (09:56):
It's just Super Bowl Sunday. You can't make it super
Bowl Saturdays. Doesn't make the same I just.
Speaker 3 (10:01):
Can the same ring. Right. What happened, James, is everybody
request off in the radio station on Monday and then
they say, no, that's right, just record your show earlier.
That's all you gotta do. So what do you guys,
we have a lot of fun here. Let's see Valentine's Day,
we got Cinnia's birthday. Super Bowl. Send you who you're
rooting for.
Speaker 5 (10:21):
She's like not gonna say, oh no, are you kidding? No,
actually no, I will do.
Speaker 4 (10:27):
I even know who's playing the Eagles.
Speaker 3 (10:30):
The Eagles are Kansas City the Eagles.
Speaker 4 (10:32):
It's it's going to have to be the Eagles.
Speaker 5 (10:34):
My kids say, neither one of them is really my
team that I would root for, but I guess out
of the two, it's the Eagles. We have a lot
of friends that are huge Eagles fans, so we got
to support them, and that's big intill do my green
Hunter green color.
Speaker 3 (10:48):
I'll wear my Lincoln lending the jacket.
Speaker 4 (10:49):
I guess recently going to be happy with me.
Speaker 3 (10:51):
But it's so tough because the Eagles have been like
a you know, like the a big competitor of Tampa
for years and years. You know, they always play us
in the chain Impion NFC Championship. We would have we've
not screwed it up potentially played them to go to
the super Bowl and then Kansas City. I mean, you
know we smoked them recently and well that was the
last time they lost the Super Bowl was US. But anyway,
(11:13):
I hate them both. I'll be honest, what are you
rooting for? I don't know. I don't know. I just
I don't want to see Kansas City win again. So
I think I'm gonna kind of go with what you're saying.
I have a lot of Jeff r VP at Lincoln
Lending Group. He is a from Philly, he is a
Genos guy. He is an Eagles guy. So I don't
think I'm gonna wear the shirt, but I'm gonna go
(11:34):
for the Eagles.
Speaker 4 (11:35):
I think that's a good idea. So he's that salty
with you.
Speaker 3 (11:38):
I know, if y'all are working, Oh, let me let
me tell you his his his attitude at work it is.
It is definitely derived from the Eagles win. You're losing.
So the last few weeks, the dude's been having the
best weeks ever. So come on, Eagles, Go on, Eagles.
You guys want a great deal on a mortgage. If
the Eagles win, you called Jeff at eight one to
three mortgage on Monday, I promise you he will be
(11:59):
in such a good mood. I'm gonna yell at him
because he was just giving me mortgages away. So stay
tuned near to the Business Happy Hour. When we get bat,
Sinny and I are going to talk about real estate,
some tips for buyers and sellers who do do our
stats that I know Sinny has got something. Now it's coming,
be ready for December. We'll be back in just a
minute on the Business Happy Hour. Then we'll talk some
mortgages later in the show. Stay tuned and like and
share if you're on Instagram.
Speaker 1 (12:21):
All the best mortgage are real estate advice from Tampa
Bay's top experts. It's the Business Happy Hour with Frank,
Debankkodo and Sennia.
Speaker 3 (12:30):
All right, guys, welcome back, Welcome back to the Business
Happy Hour, your number one show for all things business
and entrepreneurial. I am your host, Frank the Bank Codo,
owner of Lincoln Lending Group. Twenty two years in business
here in Tampa Bay. That's a long time. I can't
believe I'm this old in business. Twenties in the business,
twenty six years.
Speaker 2 (12:49):
Woo.
Speaker 3 (12:51):
Sinia with Mahara and associates, my favorite real estate team
and always brings amazing statistics and surprises me with stuff.
And I know she's got a surprise for us today. So,
as you guys expect, we're going to do our real
estate staff. But before we do that, we have an
event at Lincoln Lending Group. Senya. You're welcome to come
as always. It's going to be tomorrow. So this is
(13:14):
for our instagrammers, not our guys listen to the radio.
If you're a real estate agent on Instagram or Facebook,
right now, I will inviting you to come to our seminar.
I will put it on the Lincoln Lending Group Facebook
page and the Frank the Bank page, so you have
to go on and check it out. I'll do it
right now while I'm talking while Rosa. Please come to
this tomorrow. It's from eleven o'clock to one o'clock. I
(13:37):
will put it out there and tell you exactly where
you got to go. But it's off a lowess avenue
at a title company's office. We are capping this event
at thirty people right first, thirty people who have registered,
and we have nine slots left. So if you're watching,
get on and register. I'm going to put it on
my page right now, on the Facebook page for Lincoln
Lending Group and for Frank the Bank, and i hope
(13:58):
you guys can make it. Make sure you register because
I am ordering the tacos tonight for everybody. Spoiler alert,
We're having tacos and there you go. It's on the
page and we'll get it shared out to the Lincoln
page as well, and we hope you guys can come, Senia.
First question before you do the stats. If somebody has
a real estate question, what's the best best way to
get you?
Speaker 5 (14:18):
I would love it if they could call me or
even text at eight one three seven fivey five reel,
I love it.
Speaker 4 (14:23):
Or they can go to Tampa real Estate dot pro.
Speaker 3 (14:26):
That's it, Tampa real Estate dot Pro or seven five
y five reel super easy because we are the real
business Happy Hour over year seven five to five reel.
Check them out, check out Cinya, and here we go
on our statistics. We've been waiting for a long time
for these December numbers.
Speaker 5 (14:42):
I've been waiting, and you know what I think. I
realized that they have been shifting some stuff around. So
I don't know if you know this or not, but
so g TAR or that's what we call it, you
know as an acronym, but Greater Tampa has joined for
usas with Panela's reeltors.
Speaker 3 (14:56):
Okay, I heard that they are.
Speaker 5 (14:57):
We know, yeah, exactly like what that means for US
is agents. But even on their sites, like I've been
noticing how they're shuffling around, like our stats. Okay, so
I added some stuff and like you know, one week,
all see some things and then the other thing they're
adding it, and you know.
Speaker 3 (15:12):
This is the shifting thing, right data.
Speaker 4 (15:14):
I think, sure, yeah, ok more data.
Speaker 3 (15:16):
And now they're not combining like Hillsboro and Panela's stats, right, So.
Speaker 5 (15:21):
I mean no, I think it'll be the same as
it has been because like for a while it was
only Hillsborough stats, Like even when I was going back
through my December, I had to do Hillsborough. But I
mean it's been you know, yeah, they include Pasco, Panela's
Hillsboro and then Hernando and the MSA.
Speaker 3 (15:37):
Okay, okay, and we saying I'm ready when you okay.
Speaker 4 (15:41):
So I mean we've been talking about this.
Speaker 5 (15:42):
I don't think it's actually a huge surprise for us
because we were hoping that this is what we would see.
But our closed sales numbers were definitely up for December.
Speaker 3 (15:51):
Okay, Oh wait, now up December to December or up
December from the.
Speaker 5 (15:56):
December year over year, So year over year, yeah, are
now members in Hillsboro. We were up and closed sales
by seventeen percent, and Panella's county a whole thirty three
point two percent, what Pasco fifteen percent? And then the
MSA just kind of averages those counties plus Hernando and
up twenty one percent.
Speaker 3 (16:15):
Okay, hey, that should blow your mind if you guys
are listening that those numbers, those were all of those
were double digit numbers, right, Well.
Speaker 5 (16:24):
They're great, Yes, I mean, I just I don't want
us to forget that we probably did lag them. So
I'm sure some of those numbers attribute to the closings
that didn't happen that we're supposed to happen, you know,
during and then yeah, kind of the aftermath. But still
that's great news.
Speaker 3 (16:38):
What was Panella's county again? Was it thirty.
Speaker 4 (16:40):
Thirty three point two percent?
Speaker 3 (16:42):
So from December twenty three to December twenty four, Panella's
county had thirty three percent more home sales? Am I
understanding that?
Speaker 4 (16:53):
Yes?
Speaker 5 (16:54):
So the December last year and twenty three, Yeah, I
was thirty three percent more.
Speaker 4 (16:59):
I would say then.
Speaker 3 (17:01):
That that blows my mind considering that the all of
Panella's County was basically underwater and shut down in the
month of October.
Speaker 5 (17:07):
Right, Well, I mean that means you know, some of
those kind of got their fixes done and you know,
got the deals back on tracks.
Speaker 3 (17:13):
That's crazy, Cinya, that is I I so what do
you what do you think that means? Before we go
into more stats, what do you think that means to
the market or to buyers and sellers.
Speaker 5 (17:22):
I mean, I'm hoping overall that we're just going to
start seeing these numbers, you know, just activity pick up
in general, you know, more buyers getting out there, more
people putting their homes on the market to sell, right,
So I think we're all anticipating more activity this year.
Speaker 3 (17:36):
I think that now historically, wouldn't you say December is
one of the slowest months.
Speaker 5 (17:43):
Sorta We're we're also you know, the snowbird state, right,
so in a way we don't really follow the national
you know, seasonal times, some people buying some but yes,
things slow down, you know, September, October, November, December is
kind of hit or miss yep.
Speaker 3 (18:00):
I agree, I agree. December is one of those months
where we could be dead half the month and then
the second half of December. Everybody's just running around or
back and forth. But I am super excited about these
statistics we've been waiting on for so long because it
shows that our market is absolutely going in the right direction.
I honestly, if you told me to gamble and bet
on what it was going to be, I was going
to guess like ten to fifteen percent. I thought there
(18:22):
was an increase. I felt a little increase, but I
would never guess.
Speaker 4 (18:25):
I was a little surprised at that number.
Speaker 3 (18:27):
Two thirty two percent high, three thirty three eight percent. Look,
I'm dropping a percent off thirty three percent high. And
then Hillsborough was what twenty something?
Speaker 5 (18:35):
Hillsboro's seventeen percent seventeen. But it's still all across the board.
You know, we're up in the sales activity. The one
other good number though, for Panella's County, the year of
a year median sale price also increased by nine and
a half percent. Oh my lord, So December of twenty
three it was lower, and now their current median sale
(18:56):
price in Panella's County is four hundred and seventy seven
than five hundred.
Speaker 3 (19:01):
So wait a minute, Cinia, aren't there a bunch of
people putting out on social media every day that home
prices are dropping?
Speaker 5 (19:09):
Yes, And I mean you got to take this all
over the grain assaults, So these are year over year numbers.
Like I did do a calculation, and you know, like
the calculation that you do to get these percent changes.
You take the new value, subtract the old value, and
then you divide it by the old value, Okay, to
kind of get that percent difference.
Speaker 4 (19:27):
So you know the.
Speaker 5 (19:28):
Indicator that I think a lot of people make it
so scary. Like I went to our June numbers, and
I mean there was a decrease. I think it's a
healthy decrease though when you look at the number, so
like for Hillsborough County, the total from like I went
to June, thinking our right six months June is kind
of like you know, our hot month, right, it was
down two point three five percent.
Speaker 3 (19:47):
That's negligible.
Speaker 5 (19:48):
I think it's I think it's healthy. It's a shift
that you know, we've been needing. I think a lot
of us have been kind of expecting at least some
kind of softening correction, but nothing drastic.
Speaker 3 (19:57):
So that helps the buyers when it's a little obviously
the buyers can maybe get a little better deal out there.
So you know, when we get back in the next segment,
we're going to ask you about some tips for buyers
and sellers. We'll talk about mortgages a little later, but
we're gonna be back with some more stats in a minute.
This is super exciting news. If you ask me, I'm
the ultimate optimist, so maybe sending'll bring me back down
to reality. But stay tuned. In a minute, you're gonna
(20:18):
get some more statistics on the real estate market, and
we're gonna talk some mortgages on the Business Happy Hour.
Stay tuned.
Speaker 1 (20:23):
Welcome to the Business Happy Hour radio show with your host,
Frank de Bankkodo, the owner of Lincoln Lending Group right
here in Tampa Bay for twenty three years, joined by
his incredible co host, Senia Akishna, realtor with Mahara and Associates.
Speaker 2 (20:38):
Tampa's top real estate company.
Speaker 1 (20:40):
Together they have helped financing cloths nearly one billion dollars
of real estate every year.
Speaker 2 (20:46):
If you're looking for local mortgage or real estate advice.
Speaker 1 (20:48):
The Business Happy Hour team has been right here on
news radio WFLA for over a decade. Listen right here
or fight us on the Business Happy Hour YouTube channel.
Speaker 2 (20:57):
Or follow us on Instagram at Frank the Kodo.
Speaker 1 (21:00):
Now, sit back, relax, and get ready for some serious mortgage,
real estate and business talk with two of Tampa's top experts.
Speaker 2 (21:07):
Here's Frank Debay and Senio.
Speaker 3 (21:10):
Hey, Tampa Bay, Welcome back to the Business Happy are
your number one show for all things business and entrepreneurial. Today,
we're doing business today, we're actually doing real estate. It's
rare that Senny and I have a show that it's
just us. So we're focusing on statistics. We're focusing on questions.
Sen you just hit you. You excited me if people
can't tell that the median sales price year every year
(21:33):
has gone up nine point something percent. So there goes
the stat to all you guys who are telling people
that the prices are going down, and then you should
wait to buy wrong, and you should not wait for
the interest rate. You should marry the house and date
the rate. And then also talking about the number of
home sales up thirty three percent in Panellas County year
(21:57):
over year. But wait, Frank, nobody's going to move to
Panella's County anymore because of the hurricanes. I hear that
all the time. That's my that's my worried buyer voice.
There's been too many hurricanes. We're not going to go
back to Panellas County. We're going to go to Arizona. No,
you're not. Thirty three more percent people are going to
(22:18):
Panellas County, you know what.
Speaker 4 (22:20):
I've heard that too, right.
Speaker 5 (22:22):
But actually the last closing I just had, she's relocating,
you know, dranted from Florida, just from the other coast.
Another couple they're coming down from Des Moines, Iowa. And no,
they all know about the hurricanes. I just think that
people are still moving down here. But some of them
just might be, Hey, I don't quite want to be
(22:43):
so close to the water.
Speaker 4 (22:44):
Let's check out.
Speaker 5 (22:45):
What's a little bit more you know in land or
you know, go up north a bit. You know, they're
asking the questions, and I do think it's an important
question to ask when you're looking at a home. Hey,
how you know, were you affected by the hurricane? How
was the neighborhood? But I don't think it'll be a deterrent.
Speaker 4 (23:00):
For some people.
Speaker 5 (23:01):
Sure, just like you know, with any kind of thing
that happens. But I don't think we're going to see
a huge decrease of people moving down here. It's the
Sunshine State, you know, Tampa's doing such great things.
Speaker 3 (23:11):
I actually think, listen this, this doesn't sound weird. I
kind of think it's a good thing. You know why
I think it's a good thing because for one hundred
years we've been talking about we hadn't been hit for
one hundred years, and people nobody our age, nobody even
our parents' age, have experienced anything like this. So nobody
could look somebody in the eye and say yeah, yeah, yeah,
(23:32):
this neighborhood is not gonna flood. This is blah blah blah,
because all they have ever said is, oh, it's never
flood in one hundred years. Right, Well, guess what. We
now know what floods. We now know what neighborhoods will
be impacted. We took a freaking direct hit from these stormstairs.
I guess it could have been a little worse. It
can always be worse, right, but we now know, so
people like you and I in the industry now at
(23:53):
our age, we can say no, all right, this is
where you don't want to be yes, these guys had
four feet of water in this house. These guys had nothing.
These guys had six inches. So statistically, I think we're
in a better place now we can answer the question
more honestly at least.
Speaker 5 (24:09):
And I think hopefully everybody will start getting more prepared,
Like we're are all pushing flood insurance now, and even
if it's not required, I mean, I know, at least
all the insurance agents I've ever talked to, that's been
a thing for insurance psych If it's not required, you know,
you just look into it.
Speaker 4 (24:26):
And I don't know if that's still going to be
the case. We have to get another insurance guy on here.
Speaker 3 (24:31):
But yes we should. It's cheap if you are not
required to have it, right, it is so cheap it
is almost stupid not to have it.
Speaker 4 (24:38):
If that's always been in the shpiel.
Speaker 3 (24:40):
Yes, right, So if you're required to have it, yes,
the rates are all, you know, regulated and all that stuff.
But I'll tell you what a lot of people who
had their flood insurance got taken care of in this
last storm, you know, And a lot of people who
had their free and clear houses and didn't have insurance,
they learned a quick lesson. A guy asked me this
morning and the owls. He's like, I was talking about
canceling my insurance, Like the worst idea you can ever do.
(25:00):
Here's an idea, lower the policy. If you don't have
a mortgage, you don't have to carry five hundred thousand.
If your house is five hundred, can carry two hundred
or three hundred. It's better than nothing, dude, right, have
some insurance. So let's do some real estate tips. I
want to ask you this question, because this is always
a big one on buyer's minds. Have you ever had
a deal fall through for any unexpected reasons or in
(25:22):
an unexpected way?
Speaker 4 (25:23):
And what happened unexpected?
Speaker 5 (25:25):
Unexpected trying of thing like what pops out? I mean, sure,
there's always there's always things. And even though the ones
that we had with the hurricane may have been you know,
delayed a.
Speaker 4 (25:34):
Bit, but things got fixed.
Speaker 5 (25:36):
You know, you had to have really good roofers on
call that actually want to answer your call. Those are
important eurdon times like that. But I think one that
sticks out, actually that was a little bit recent. It
fell through for no reason at all except for the buyers.
Speaker 4 (25:52):
Just change their minds just change their minds.
Speaker 5 (25:55):
Yeah, it wasn't like not financing, not inspections, nothing else.
They had a deposit on the line and even their agent,
so I had the listing. The buyer's agent was just
like listen, I don't know.
Speaker 3 (26:08):
And did did they lose the deposit?
Speaker 5 (26:10):
They lost the deposit and they were okay, And you
know what in that case, like I do think this
is such a big investment. If you're going to be
living in this home, you better like it. I want
you to like it, you know what. Like I just
I think I respect people when they're you know, that
set in that decision. I mean, it sucks because a
lot of the other people, you know, deals writing on deals,
(26:31):
and all of a sudden one has cold feet, and
probably two other deals had to fall apart because of
it because there were contingent sales going on.
Speaker 4 (26:37):
But you know what, can't say the word yes, it happens,
it happens, It happens.
Speaker 3 (26:45):
A solution. I'm gonna mention anything else we need.
Speaker 5 (26:49):
Well, I have another one that I just think that
I still really point out. This was like really early
in my career and I wasn't even the agent. I
was kind of partnered up with another agent on it.
But we had a deal that.
Speaker 4 (27:00):
Was going through almost to the end, and it was this.
Speaker 5 (27:04):
Sweet little well maybe not so sweet, but this little
old lady that you know, she was just all her
own in this big, beautiful house, and she had this
room that had a lot.
Speaker 4 (27:16):
Of like custom shelves in it. Right, it was an.
Speaker 5 (27:18):
Office, but apparently they you know, just spent all this
money configuring it whatever. And usually in real estate it
reads it hey if it's a fix to the wall,
meaning that if it's something that's on your wall, that
if you remove it, it's going to damage the property
that conveys.
Speaker 4 (27:33):
So she didn't quite I guess grasp that.
Speaker 5 (27:36):
And then come towards the very end, she was like, well,
I'm taking these with me, and we're like, lady, like,
this is I mean, we're talking about the entire room
with shelves everywhere, like that's going to be quite a
lot of work.
Speaker 4 (27:49):
But she insisted, well, if they.
Speaker 5 (27:51):
Stay, then I want additional you know, say three or
five thousand dollars on the side. And the people buying
the home, they did not want these shells. They were
going to take them down, even take care of the
repairs you know and stuff. But she just she wasn't
having it. And I think the buyers just got really
fed up. But then they're like, you know what, this
(28:11):
is just yeah, and I mean I think it's over nothing.
But again, discuss all these things up front, right, you know,
if there's a certain you know, light fixture that you
really love, you know the buyer might really love it,
to make sure you talk about it up front, like, hey,
there's sentimental value there, I plan on taking that with me.
I'll replace it with you know, something else, or we're
(28:32):
just going to cap it.
Speaker 4 (28:32):
But just discuss it up front.
Speaker 5 (28:34):
That way, you don't have these last minute surprises where
there's some kind of miscommunication going into a contract.
Speaker 3 (28:39):
I love what you said. That is the moral of
that story is communication, communication, communication. I get to see
your buyers, they're like, okay, lady, you can have the
shelves and the house that it's connected to. I was
in that, you know. I see something came up yesterday
when we were talking about you know, title companies and
fees and things like that, and this this person brought
(29:02):
up scenarios where the people in the transaction, the real
estate agents, the mortgage company whatever. They get frustrated when
people are trying to negotiate for you know, a few
thousand dollars, and sometimes they let deals fall apart, like
a five hundred thousand dollars deal fall apart for five
thousand dollars, And I find that so absurd. I know,
(29:22):
you would never do it, Ray and Maharran Associates would
never do it. You know, nobody wants to lose money.
Nobody wants to come out of their pocket, you know,
especially at the end of a transaction. That's why we
work in teams that we can help each other out.
But I just find that, like that's something you could
ask your you know, agent, or you got to feel
comfortable with your agent to know, you know, it comes
down to a few thousand dollars. Are we all going
to pitch in and work this out? And I know
(29:43):
you guys will and we will too, So that's kind
of our advice. My advice to you is when you're
choosing your real estate agent, you know, you choose somebody
wh's going to represent you, but choose somebody who's going
to be there for you as well, like Maharan Associates Insinia,
because I know they're not going to lose a deal
when it comes down to a three thousand dollars negotiation.
I mean that deal right there, with those cabinets, it
almost like it should have never gotten to the buyer.
(30:04):
Should have been like, listen, we're gonna get it taken
care of. We're going to a company. We'll get them
taken out. Don't worry, ma'am, it's all fine. They're years.
We'll patch up the walls. You know. Those are kind
of things that stress people out, and then it creates
this animosity and then people say, go flat height, you know,
and not almost like the flight heights.
Speaker 4 (30:20):
No, I totally agree.
Speaker 5 (30:21):
I think ultimately she was just so attached to the
home and I think it was just a very big
change for her, Like her husband passed away not long ago,
and she was just he probably built the situation where, yeah,
it could be, but I think yeah, she just you know,
was just very emotional for her and with everything.
Speaker 4 (30:36):
I just don't think she wanted to let it go.
Speaker 3 (30:38):
I bet you on the next offer she let it go.
That's the way it always works. I'm sorry, I don't
want to be like pastious, but you know, we always do.
You guys joke about this sometimes, like it's almost like
sometimes I get the buyers. I have to lose one
to get one. Oh yeah, And that happened to my
wife and I many many years ago looking at a
house in Carewood, and and we thought this was it,
and we lost it, and it was really funny. The
sellers loved us, and the sellers caused us, called us
(31:01):
and said, listen, we didn't take your offer. We took
the other one because we liked you guys too much.
And I'm like, what do you mean, he goes, My
neighbors are back crazy. They're back crazy, right, And they
helped us out in the end. And then Nicole and
I found a way nicer house, a way more beautiful house,
(31:21):
which was awesome. So in the end, everything happens for
a reason.
Speaker 4 (31:25):
And I am a big believer in that.
Speaker 5 (31:27):
So you know, things do happen for a reason, and
they tend to work out better than maybe they would have,
you know, with the other thing that didn't work out.
Speaker 2 (31:33):
Yeah.
Speaker 3 (31:33):
Absolutely. So let's say we got a minute left, how
about you give a tip seven five five reel by
the way, it's how you get in touch with her
seven five to five reel. How about a tip for
a buyer or a seller right now?
Speaker 5 (31:44):
I mean, I think the biggest tip for both okay
categories is make sure you hire a great agent. Hire
an agent that you like, that you get along with, right,
but then you also feel confident it's going to have
your best interests at heart, right. It doesn't matter if
you're some people like a girl of style, like I'm
not an aggressive one, but that does not mean that
I can get a deal done. I am a great negotiator,
(32:06):
but I do things my way. I like to, you know,
work as a team, you know, with all parties involved,
and I do think that's a good way of getting
things done. But it's important now, especially if you're a seller,
you need the right pricing strategy. If you're a buyer,
you do need a great negotiator because buyers are negotiating
and you have to have that agent that can convey
what you want to get you the best price.
Speaker 3 (32:28):
I love it. I second that advice. And my grandma
used to always say, you catch more bees with honey, right,
and that is so true. That's why I don't let
the people at lincol Lending Group be mean. We stay cool,
just like Sandia and Maharan Associates. We're gonna be back
in just a minute and we're going to talk some mortgages.
So stay tuned if you want to find out what's
up with the interest rates.
Speaker 1 (32:45):
All the best mortgage or real estate advice from Tampa
Bay's top experts. It's the Business Happy Hour with Frank,
Debankkoto and Senia.
Speaker 3 (32:55):
Guys, welcome back to the Business Happy Or you're number
one two for all things business and entrepreneur. I am
in studio with Senia Akeisha from Mahara and Associates, my
amazing co host. If you guys need some real estate advice,
we've been given it all day, but we're just gonna
give you her phone number, which is uh eight.
Speaker 4 (33:14):
One three seven five five reel. I was looking at
your little wave.
Speaker 3 (33:17):
I know, I was over here waving to people. I'm
just trying to you know, trying to wave to our listeners.
Speaker 4 (33:21):
Hi, guys, that was to me. I'm like, you're right here,
just wave.
Speaker 3 (33:24):
Oh yeah. So eight one three seven five five real course.
If you need mortgage advice, it's contact Frankdbank dot com.
That's contact Frankdbank dot com for the reverse mortgage stuff,
reverse guru dot com And of course you can find
all of this on our social media. Please follow us
realtor Send and Frank Thebank Codo on social media. Check
(33:44):
us out on Facebook and Instagram. We also are live
every week on Instagram, normally from eleven to twelve first
twoes a month. Gonna be a little later, but we
will always post these out so you can watch us.
So how about rates?
Speaker 4 (33:58):
Send you don't let's do rates first? Yes, because I'm
always curious on what do your take on that?
Speaker 3 (34:03):
What do you think the rates are right now? What
are the buyers?
Speaker 4 (34:05):
I mean I hear I don't hear the stuff you hear.
I hear this stuff everybody else here.
Speaker 3 (34:08):
That's what I want to hear.
Speaker 4 (34:09):
You know that.
Speaker 5 (34:10):
I guess you know there's really no no change and
what it's been. But I know even what they say
is not always true because you say that.
Speaker 4 (34:18):
What we see on Google is not really what it is.
Speaker 3 (34:21):
I just googled it. And you know how Google has
this little AI thing now, like like if you ask
a question and then it gives you these other questions,
you click on them and it literally says AI overview,
which be careful guys, because it's not always correct on
some things. Okay, we got in trouble on something recently
that was not right. Don't use mortgage guidelines with Google.
By the way, it says as of February third, twenty
(34:43):
twenty five, the national average on a thirty or fixed
mortgage interest rate was seven point zero two percent. This
is based on the survey of the largest mortgage lenders
in the country. Really, that seems a little high, doesn't it.
Speaker 4 (34:53):
See, I mean it does because that's not what I
hear from you, No.
Speaker 3 (34:56):
Exactly, So you know what it really is, guys. The
FA rate right now is five point six two five
to five point seventy five percent. Faha, and va, you
are in the fives. So for all you guys saying
well I'm going to wait to buy until rates are
in the fives, they're in the fives. It's time to
(35:19):
buy now. It really is. And you still have what
Cinnea just spent the whole show explaining is you still
have sellers willing to work with you because we still
have a little bit of that seller's market. The information
isn't out there yet. People are like, why, I honestly
think it's greed it's you know, I say it like this,
and somebody give me a better idea. Somebody come on
(35:40):
the show and tell me I'm wrong. You're selling a
widget for two dollars. The economy says that that widget
is now on sale for three dollars. Okay, because whatever
price is whatever, all of a sudden, your cost goes
back down, and you could sell that widget for two
dollars again to make the same amount of money. But
everybody in America is willing to pay three dollars. Are
you gonna drop the price to two dollars right off
(36:02):
the bat? I say no. I say, you know, most
business people are not going to do it. Now. We
at link In are a wholesale mortgage brokerage business, so
there's no benefit to us. Right, We're already almost a
point and a half lower than the biggest banks in
the country. Right, it doesn't change anything. We can give
you the five six two five, we're gonna make the
(36:23):
same amount of money. Right, So a conventional rate Fannie May,
you're like six and a quarter, right, so you're almost
a point lower there. You're almost a point and a
half lower on FHA and VA. I really don't know
what else to say, besides.
Speaker 5 (36:36):
We have those numbers, like I mean, are they just
getting it from like a lot of like the retail
banks are like, yeah, how is it so much higher
there than what you're giving?
Speaker 3 (36:44):
So it actually shows it on here. It shows if
you google it, it shows you all the places they
pulled them from, Guaranteed Rate, US Bank, Zillow, Mortgage Newsdaily,
bank Rate, dot Com, nerd wallet at Bank of America,
Wells Fargo. So that's where they're pulling them from. So
they're pulling this data from the big boys. Now, big
boys have more expense, right, It's why you know you
(37:05):
work your shop with the local business owner. They usually
can cutch you a better deal because it's simple, they
have less margin. Right. Yeah, we have forty five employees,
which is pretty big for a small business, but that's
still way different than forty five hundred employees or forty
five thousand employees where you have to collect more money
to pay all these benefits and insurances. And think about
(37:26):
if you have eighteen hundred branches across the country, Well,
you got to make the money to keep the lights on, right.
Speaker 5 (37:30):
Well, you've educated me on that before. So actually, you
agents that are listening. Go to Frank's lunch and learn tomorrow,
because he does cover this and there are just things
that we as agents, you know, don't really think about,
don't know that part of you know the business and
how it all works. So it's a great thing to
check out. Frank's going to teach you a lot of
stuff that we don't usually.
Speaker 4 (37:49):
Cover on the show.
Speaker 3 (37:50):
Thank you, And it is on the Instagram on the Facebook.
So let's you've asked me to do this before and
all we never have time. So it's a math, right.
You're always like, well, what does that really mean to
a consumer? I did it in a seminar the other
day and I'm going to do it again tomorrow. If
let's say you have a five hundred well, let's say
your approved for four hundred thousand dollars and the bank
gives you the seven percent rate, but it's not enough.
(38:14):
Sinny is not able to find you the house for
four hundred thousand. You really need a more expensive house.
The difference in the rate and what you qualify for
by going from seven percent to five point seventy five
a point a quarter difference is about eighty thousand dollars.
So if you don't think the rate matters. If you
think it's just your payment. It makes a difference on
(38:35):
what you qualify for. Said, that's what the real estate
agents need to hear is, Yeah, you got this guy
at guaranteed rate, who's you know, your best buddy, and
you guys golf with him and stuff. But he keeps
giving your client seven percent. Who's he helping? He's he's
hurting the maximum qualification for the client. Now what does
it mean in dollars? The dollar difference in that interest
(38:57):
rate change right there on five hundred thousand is almost
seven hundred dollars a month, right, No less than five,
no more than seven. So what is that? If five
hundred dollars a month doesn't interest you, then I guess
you're buying cash, right because five hundred dollars a month
(39:18):
is a lot of money to Frank the bank, So
I hope it's a lot of money to you guys
out there.
Speaker 5 (39:23):
So that I love the math, I'm going to have
to re listen so I can actually jot it down. Yes, yes, I'm.
Speaker 3 (39:27):
Going to send you some screenshots that i'll actually show you.
But this is, this is what I want everybody to understand.
Is the interest rates do have a very major impact,
not only on your monthly payment, but on how much
money you qualify for. So if you're a real estate
agent and you have a client that just can't get
what he needs because he's talked to somebody else, let's
do it. By the way, I'm gonna leave you guys
with this downpayment assistance. Everybody talks about it way better
(39:50):
programs at Lincoln Lining one hundred percent FHA. You don't
have to be a first time home buyer and you
don't have an income restriction, you don't need the down
payment assistance. We can get your one hundred percent financing.
We just did it for the Leah King Group and
save somebody's button. Saved them seven thousand dollars on the
same deal at a lower interest rate.
Speaker 4 (40:08):
So we had a time for reverse mortgage stuff.
Speaker 3 (40:10):
I ran out of time for reverse mortgages. I know
she's got a great reverse mortgage question for me, But
next week we will talk reverse mortgages. Just go to
reverse guru dot com. Check it out, answer all the
questions about reverse mortgages, and I promise you will not
lose your home. It's nearly impossible to do that send.
What's new, that's it, what we got.
Speaker 4 (40:28):
That's it?
Speaker 5 (40:29):
Happy, Happy super Bowl and Happy Valentine's Day everybody.
Speaker 3 (40:32):
That's right, I guess go birds go birds.
Speaker 4 (40:35):
Yes, let's do it.
Speaker 3 (40:36):
Oh got that hurt. We'll see you guys next week
on the Business Happy Hour. Thank you for listening. It
makes you like and share. Have a great week.
Welcome to the Business Happy Hour radio show with your host,
Frank Debank Coodo, the owner of Lincoln Lending Group, right
here in Tampa Bay for twenty three years, joined by
his incredible co host, Senia Akishana, realtor with Mahara Associates.
Speaker 2 (00:15):
Tampa's top real estate company.
Speaker 1 (00:17):
Together they have helped finance and clothes nearly one billion
dollars of real estate every year.
Speaker 2 (00:23):
If you're looking for local mortgage.
Speaker 1 (00:24):
Or real estate advice, the Business Happy Hour team has
been right here on news radio WFLA for over a decade.
Speaker 2 (00:31):
Listen right here or.
Speaker 1 (00:32):
Find us on the Business Happy Hour YouTube channel, or
follow us on Instagram at Frankdbankkodo. Now, sit back, relax,
and get ready for some serious mortgage, real estate and
business talk with two of Tampa's top experts. Here's Frank
the Bank and Senia.
Speaker 3 (00:47):
Hey Tampa Bay, Welcome back to the Business Happy Hour,
your number one show for all things business and entrepreneurial.
I am your host, Frank the Bank Coodo, the owner
of Lincoln Lending Group and eight one three Mortgage dot
Com in studio. It's a special day today. It's just
city a night today welcome to the business. Happy are
(01:08):
thank you, James. I know we're starting a little later today, guys,
first Tuesday of every month, Frank the bank has a
big event over at the Northdale Owls. So I do
want to put this out there real quick because you
don't even know who the Owls are, which, by the way.
Speaker 4 (01:20):
So I had no idea you had an event every
first Tuesday.
Speaker 3 (01:23):
I have your Christmas present and Ray's sitting in the
back of my trunk and I totally keep forgetting to
give it to you. So, guys, it's not my Christmas jacket,
but Cennia made me think of it when she called
it a Christmas jacket. This is my Valentine's Day jacket,
because this is our Valentine's Day show.
Speaker 4 (01:40):
It is, I guess it's sorry, can you believe this?
Speaker 3 (01:43):
Like fly by? So, so if you guys are watching Instagram,
you're sitting here like god, dude, it's not Valentine's say. Yeah,
but our radio show is recorded on Tuesdays and we
air on Saturday and Sunday, which is going to be
what's that date, the eighth and the ninth.
Speaker 5 (01:57):
Well, you're a little bit so the night but yeah,
I guess the next and it's hurting me past.
Speaker 4 (02:03):
We're gonna air on Super Bowl Sunday though, Oh.
Speaker 3 (02:05):
My gosh, super Bowl. Okay, so we are talking about
the Super Bowl. What I was about to say is
today's a really cool show because a lot of times
Senny and I have awesome guests for you, but today
it's just SENNI and I. So we are going to
focus on real estate, and we're going to talk a
little bit about some mortgages, some specific products. We're going
to be giving some buyer tips. We're going to give
some seller tips. I'm gonna ask sending us some questions.
(02:27):
We're going to talk about possibly what happens when a
deal doesn't work out the way it's supposed to work out.
How does that affect you as a buyer or a seller.
We're going to talk about reverse mortgages. We're going to
talk about the difference in doing a cash out refinance
or getting a home equity line of credit. That seems
to be a big question that keeps popping up. But
(02:49):
by the way, if you are an avid watcher of
the show, what's up Robbie, thanks for joining. If you're
an avid watcher of the show on our Instagram. The
first Tuesday of every month, we have the Northdale Owls.
If you are I think they say over fifty five.
I think that's the rule. You got to be fifty
five or sixty to join the Owls. The Owls is
(03:10):
an event in Northdale at the Recreation Center and the
first Tuesday of every month there's like three hundred people.
There's live entertainment, there's booths, there's giveaways, there's a little dancing,
there's a lunch that they provide to. You got to
join the organization. It's the Owls and it is for
people in their golden years who would like an awesome
event to go to in a big, cool community. So
(03:31):
I am one of the bigger sponsors for the event.
We educate on reverse mortgages there and other things. And
I had to speak on stage today and do some
fun stuff for the Valentine. So that's why the way
why I'm wearing my Valentine's jacket, because there's there every month.
They have a theme, right, so everybody was in red
with hearts today and all that.
Speaker 5 (03:50):
It's fitting because I think somebody asked you when you
were that to the Christmas party, like, oh, Okay, that's
probably the one time a year you can wear it.
Speaker 4 (03:55):
But no, that's perfect for Valentine's Day too. There you go.
Speaker 3 (03:58):
That's right, and let me think of there another No,
that's probably it. Yeah, Valentine's and Christmas. I can get
away with this jacket. My wife would She sees me
pull it out of the closet, she goes, where are
you going? So anyway, by the way, if you guys,
two people came up to me ascid word, do I
get my jackets? Actually, William Lewis is my habitat sure habitasher.
It's Billy Lay, the former mister man over at University
(04:21):
Mall in Tampa Bay Mall for like forty years here
in Tampa. If you guys remember mister man, if you
would like some awesome custom clothing shameless plug. He didn't
ask me to do this. People just asked me today
where I got it. And the guy actually makes these jackets.
He's super awesome. Do anything you need? So whoa, that
was a lot. I didn't even have my notepad in
front of me. But I will say we're now on
(04:41):
three channels. Do you remember the three were on?
Speaker 5 (04:44):
Oh goodness, I'm the wrong person to ask. I've just
been saying, hey, I'm like three other channels.
Speaker 3 (04:49):
James helped me out. Okay, we got our nine to seventy,
we got twelve fifty, W H and Z which is
also an AM channel. And the last one, what's the
f N one one oh five point nine. I knew
James Burlander would know that answer. It's one oh five
point nine FM, and that's on Saturdays at ten am
AM twelve fifty Saturdays ten am and then I think
(05:09):
I'm saying that right and five am? Is it? Is
it five am on Saturdays? Oh? Well, I guess I
guess we got the same time slot on Saturday and Sunday.
Speaker 4 (05:17):
I'll make a little cheat sheet for next time.
Speaker 3 (05:19):
Yeah, right, half out with that. James isn't here, then
we'll need that cheat sheet. But anyway, so you got
you guys can hear us both day Saturday and Sunday,
five am. Happy Valentine's Day to those of you who
are listening to us on the radio. It's coming up.
Hopefully you have something ready to do for your sweetie.
What are you doing? What are you doing, Sya? What
are you doing for Valentini?
Speaker 5 (05:36):
You know why my birthday is actually coming up too,
and it's right before Valentine's Day, So I'm plants, hey,
can we just do a combo of the two, which,
you know what, I'm totally fine with that. I'm still
like getting over the holiday season. It's just it's always
too much for us with just all the you know,
American celebration, the Russian stuff that my mom likes to do,
and then we have the birthdays that start up right away.
Speaker 4 (05:57):
And yes, I'm totally fine.
Speaker 3 (05:59):
Come when are your kids birthdays? What months are they in?
Speaker 5 (06:02):
So I get a January okay, then February, I mean
I'm in February, yeah, coming up. And then my daughter
is in April okay, so there's another big one that
I celebrate in March.
Speaker 3 (06:13):
And so you're you're similar to me. You've got you've
got your December, January, February, April, like, right, I've got November, December, January,
and then it's over.
Speaker 5 (06:23):
Well yeah, no, I got September, November, December, January.
Speaker 2 (06:27):
Yeah.
Speaker 5 (06:27):
Like my dad had a huge one this year, my
mom had a huge one, and it's it's just a lot.
Speaker 3 (06:32):
I love it. I love it, I love I like
I like getting out there. So what my wife and
I try to do for these little things anniversaries, Valentine's Day,
we have really taken to the staycation right, pick a
place that's close, you know, maybe an hour drive hour
and a half at most, and just get a hotel,
(06:53):
get you know, drop the kids off at school, drive
straight to the location. Like this year we're going. Believe
it or not, We've never been to Anna Marie Island.
I've really born and raised in Tampa. Have you?
Speaker 4 (07:03):
That was like my favorite beach grown. I love Anna
Marie Island? Are you kidding me?
Speaker 3 (07:07):
I'm gonna need tips because literally Nicole and I we
picked out this place called the bally High. Have you
heard of it? I don't know anything about Anna Marie.
Speaker 4 (07:14):
I haven't.
Speaker 5 (07:15):
We used to just stay thinking little like private condos.
But I mean, are they How are things in Anna
Marie Island?
Speaker 3 (07:21):
So all the research online says that they're doing relatively good.
There's still a lot of obviously destruction, but a lot
of the hotels have reopened. That's why we chose this place.
They said a lot of the restaurants are there, So
the other reason we chose it. I'm glad you kind
of said that is we wanted to support the local businesses,
and we thought, you know, if these guys are struggling enough,
there's a lot of people not coming from tourism. So
(07:42):
I said, if we're gonna choose something, why don't we
choose something that was in one of those potentially affected areas.
And she looked at me. She's like, Anna Marie, like
I've never been there, So I guess it's gonna be fun.
Speaker 4 (07:52):
You guys will love it.
Speaker 5 (07:53):
Yeah, just the sand is unbelievable, and just the whole
vibe that little, you know, downtown area. I don't know
if you call downtown, but just like your little beechy town,
plenty of good restaurants, and it's just so.
Speaker 3 (08:04):
We're gonna need something. We're gonna do that. We're gonna
wake up, take the kids school, drop them off, be an,
Anna Marie hopefully by like nine thirty in the morning
is what I'm hoping. Hoping. We're gonna get bicycles, drive
the little bicycles around. I heard people like, you're dropping
the kids off.
Speaker 4 (08:18):
I mean that's the way to go.
Speaker 3 (08:19):
Yes, Yes, that that is how we start all of
our staycations and our trips. That we go to like
around the Florida area. Is you drop the kids off,
you get on the road. It's awesome. And of course mom,
thank you nanny for picking them up in the evening
and uh taking them to school the next day and
then we come home and you know, then we got
Valentine's Day. So, by the way, another trick, don't celebrate
(08:41):
Valentine's Day on Valentine's Night. If you like to actually
get into a restaurant and you know it's a.
Speaker 4 (08:47):
Little wild, I'll do it on my birthday night.
Speaker 3 (08:49):
What's you you want to say?
Speaker 4 (08:50):
Oh, no, it's actually gonna be on Super Bowl this year.
Speaker 3 (08:53):
Your person.
Speaker 5 (08:53):
Now I'm wondering, Hey, are people going to be like
a bar is actually doing the whole football thing?
Speaker 4 (08:57):
Do we need to make a reservation somewhere or are
gonna be pretty dead? Well if you go somewhere like nicer,
you know.
Speaker 3 (09:03):
No, yeah, you're right, I would agree. If you go
to a nice restaurant, it'll probably be dead.
Speaker 4 (09:07):
But I'm hoping.
Speaker 3 (09:08):
Do you know that Super Bowl Monday is the most
requested off day of work in the United States of
any day of the year. The Monday after Super.
Speaker 4 (09:18):
Bowl, it should be a holiday.
Speaker 3 (09:20):
It should be, but it begs the question. Jack James said,
it should be a holiday, but it beg that bangs.
It begs the question. Why do they do it on Sunday?
Why would they not do it on Saturday? Like, wouldn't
you think that might be better for revenue too, for businesses?
They'll be there and people be there another day. It's
not Monday. I don't know, So.
Speaker 4 (09:39):
Throw it out there somewhere to the people.
Speaker 3 (09:42):
You know, Yeah, I am. I'm gonna I'm gonna call
the commissioner of the NFL right now and ask them.
We do know a couple football players. I guess we
could ask some of those players. Oh, Tony Dungee, We're
gonna ask him when I bump into him at the
kids' school next time. Which found what a stand up guy.
Speaker 4 (09:55):
By the way, good luck with that.
Speaker 5 (09:56):
It's just Super Bowl Sunday. You can't make it super
Bowl Saturdays. Doesn't make the same I just.
Speaker 3 (10:01):
Can the same ring. Right. What happened, James, is everybody
request off in the radio station on Monday and then
they say, no, that's right, just record your show earlier.
That's all you gotta do. So what do you guys,
we have a lot of fun here. Let's see Valentine's Day,
we got Cinnia's birthday. Super Bowl. Send you who you're
rooting for.
Speaker 5 (10:21):
She's like not gonna say, oh no, are you kidding? No,
actually no, I will do.
Speaker 4 (10:27):
I even know who's playing the Eagles.
Speaker 3 (10:30):
The Eagles are Kansas City the Eagles.
Speaker 4 (10:32):
It's it's going to have to be the Eagles.
Speaker 5 (10:34):
My kids say, neither one of them is really my
team that I would root for, but I guess out
of the two, it's the Eagles. We have a lot
of friends that are huge Eagles fans, so we got
to support them, and that's big intill do my green
Hunter green color.
Speaker 3 (10:48):
I'll wear my Lincoln lending the jacket.
Speaker 4 (10:49):
I guess recently going to be happy with me.
Speaker 3 (10:51):
But it's so tough because the Eagles have been like
a you know, like the a big competitor of Tampa
for years and years. You know, they always play us
in the chain Impion NFC Championship. We would have we've
not screwed it up potentially played them to go to
the super Bowl and then Kansas City. I mean, you
know we smoked them recently and well that was the
last time they lost the Super Bowl was US. But anyway,
(11:13):
I hate them both. I'll be honest, what are you
rooting for? I don't know. I don't know. I just
I don't want to see Kansas City win again. So
I think I'm gonna kind of go with what you're saying.
I have a lot of Jeff r VP at Lincoln
Lending Group. He is a from Philly, he is a
Genos guy. He is an Eagles guy. So I don't
think I'm gonna wear the shirt, but I'm gonna go
(11:34):
for the Eagles.
Speaker 4 (11:35):
I think that's a good idea. So he's that salty
with you.
Speaker 3 (11:38):
I know, if y'all are working, Oh, let me let
me tell you his his his attitude at work it is.
It is definitely derived from the Eagles win. You're losing.
So the last few weeks, the dude's been having the
best weeks ever. So come on, Eagles, Go on, Eagles.
You guys want a great deal on a mortgage. If
the Eagles win, you called Jeff at eight one to
three mortgage on Monday, I promise you he will be
(11:59):
in such a good mood. I'm gonna yell at him
because he was just giving me mortgages away. So stay
tuned near to the Business Happy Hour. When we get bat,
Sinny and I are going to talk about real estate,
some tips for buyers and sellers who do do our
stats that I know Sinny has got something. Now it's coming,
be ready for December. We'll be back in just a
minute on the Business Happy Hour. Then we'll talk some
mortgages later in the show. Stay tuned and like and
share if you're on Instagram.
Speaker 1 (12:21):
All the best mortgage are real estate advice from Tampa
Bay's top experts. It's the Business Happy Hour with Frank,
Debankkodo and Sennia.
Speaker 3 (12:30):
All right, guys, welcome back, Welcome back to the Business
Happy Hour, your number one show for all things business
and entrepreneurial. I am your host, Frank the Bank Codo,
owner of Lincoln Lending Group. Twenty two years in business
here in Tampa Bay. That's a long time. I can't
believe I'm this old in business. Twenties in the business,
twenty six years.
Speaker 2 (12:49):
Woo.
Speaker 3 (12:51):
Sinia with Mahara and associates, my favorite real estate team
and always brings amazing statistics and surprises me with stuff.
And I know she's got a surprise for us today. So,
as you guys expect, we're going to do our real
estate staff. But before we do that, we have an
event at Lincoln Lending Group. Senya. You're welcome to come
as always. It's going to be tomorrow. So this is
(13:14):
for our instagrammers, not our guys listen to the radio.
If you're a real estate agent on Instagram or Facebook,
right now, I will inviting you to come to our seminar.
I will put it on the Lincoln Lending Group Facebook
page and the Frank the Bank page, so you have
to go on and check it out. I'll do it
right now while I'm talking while Rosa. Please come to
this tomorrow. It's from eleven o'clock to one o'clock. I
(13:37):
will put it out there and tell you exactly where
you got to go. But it's off a lowess avenue
at a title company's office. We are capping this event
at thirty people right first, thirty people who have registered,
and we have nine slots left. So if you're watching,
get on and register. I'm going to put it on
my page right now, on the Facebook page for Lincoln
Lending Group and for Frank the Bank, and i hope
(13:58):
you guys can make it. Make sure you register because
I am ordering the tacos tonight for everybody. Spoiler alert,
We're having tacos and there you go. It's on the
page and we'll get it shared out to the Lincoln
page as well, and we hope you guys can come, Senia.
First question before you do the stats. If somebody has
a real estate question, what's the best best way to
get you?
Speaker 5 (14:18):
I would love it if they could call me or
even text at eight one three seven fivey five reel,
I love it.
Speaker 4 (14:23):
Or they can go to Tampa real Estate dot pro.
Speaker 3 (14:26):
That's it, Tampa real Estate dot Pro or seven five
y five reel super easy because we are the real
business Happy Hour over year seven five to five reel.
Check them out, check out Cinya, and here we go
on our statistics. We've been waiting for a long time
for these December numbers.
Speaker 5 (14:42):
I've been waiting, and you know what I think. I
realized that they have been shifting some stuff around. So
I don't know if you know this or not, but
so g TAR or that's what we call it, you
know as an acronym, but Greater Tampa has joined for
usas with Panela's reeltors.
Speaker 3 (14:56):
Okay, I heard that they are.
Speaker 5 (14:57):
We know, yeah, exactly like what that means for US
is agents. But even on their sites, like I've been
noticing how they're shuffling around, like our stats. Okay, so
I added some stuff and like you know, one week,
all see some things and then the other thing they're
adding it, and you know.
Speaker 3 (15:12):
This is the shifting thing, right data.
Speaker 4 (15:14):
I think, sure, yeah, ok more data.
Speaker 3 (15:16):
And now they're not combining like Hillsboro and Panela's stats, right, So.
Speaker 5 (15:21):
I mean no, I think it'll be the same as
it has been because like for a while it was
only Hillsborough stats, Like even when I was going back
through my December, I had to do Hillsborough. But I
mean it's been you know, yeah, they include Pasco, Panela's
Hillsboro and then Hernando and the MSA.
Speaker 3 (15:37):
Okay, okay, and we saying I'm ready when you okay.
Speaker 4 (15:41):
So I mean we've been talking about this.
Speaker 5 (15:42):
I don't think it's actually a huge surprise for us
because we were hoping that this is what we would see.
But our closed sales numbers were definitely up for December.
Speaker 3 (15:51):
Okay, Oh wait, now up December to December or up
December from the.
Speaker 5 (15:56):
December year over year, So year over year, yeah, are
now members in Hillsboro. We were up and closed sales
by seventeen percent, and Panella's county a whole thirty three
point two percent, what Pasco fifteen percent? And then the
MSA just kind of averages those counties plus Hernando and
up twenty one percent.
Speaker 3 (16:15):
Okay, hey, that should blow your mind if you guys
are listening that those numbers, those were all of those
were double digit numbers, right, Well.
Speaker 5 (16:24):
They're great, Yes, I mean, I just I don't want
us to forget that we probably did lag them. So
I'm sure some of those numbers attribute to the closings
that didn't happen that we're supposed to happen, you know,
during and then yeah, kind of the aftermath. But still
that's great news.
Speaker 3 (16:38):
What was Panella's county again? Was it thirty.
Speaker 4 (16:40):
Thirty three point two percent?
Speaker 3 (16:42):
So from December twenty three to December twenty four, Panella's
county had thirty three percent more home sales? Am I
understanding that?
Speaker 4 (16:53):
Yes?
Speaker 5 (16:54):
So the December last year and twenty three, Yeah, I
was thirty three percent more.
Speaker 4 (16:59):
I would say then.
Speaker 3 (17:01):
That that blows my mind considering that the all of
Panella's County was basically underwater and shut down in the
month of October.
Speaker 5 (17:07):
Right, Well, I mean that means you know, some of
those kind of got their fixes done and you know,
got the deals back on tracks.
Speaker 3 (17:13):
That's crazy, Cinya, that is I I so what do
you what do you think that means? Before we go
into more stats, what do you think that means to
the market or to buyers and sellers.
Speaker 5 (17:22):
I mean, I'm hoping overall that we're just going to
start seeing these numbers, you know, just activity pick up
in general, you know, more buyers getting out there, more
people putting their homes on the market to sell, right,
So I think we're all anticipating more activity this year.
Speaker 3 (17:36):
I think that now historically, wouldn't you say December is
one of the slowest months.
Speaker 5 (17:43):
Sorta We're we're also you know, the snowbird state, right,
so in a way we don't really follow the national
you know, seasonal times, some people buying some but yes,
things slow down, you know, September, October, November, December is
kind of hit or miss yep.
Speaker 3 (18:00):
I agree, I agree. December is one of those months
where we could be dead half the month and then
the second half of December. Everybody's just running around or
back and forth. But I am super excited about these
statistics we've been waiting on for so long because it
shows that our market is absolutely going in the right direction.
I honestly, if you told me to gamble and bet
on what it was going to be, I was going
to guess like ten to fifteen percent. I thought there
(18:22):
was an increase. I felt a little increase, but I
would never guess.
Speaker 4 (18:25):
I was a little surprised at that number.
Speaker 3 (18:27):
Two thirty two percent high, three thirty three eight percent. Look,
I'm dropping a percent off thirty three percent high. And
then Hillsborough was what twenty something?
Speaker 5 (18:35):
Hillsboro's seventeen percent seventeen. But it's still all across the board.
You know, we're up in the sales activity. The one
other good number though, for Panella's County, the year of
a year median sale price also increased by nine and
a half percent. Oh my lord, So December of twenty
three it was lower, and now their current median sale
(18:56):
price in Panella's County is four hundred and seventy seven
than five hundred.
Speaker 3 (19:01):
So wait a minute, Cinia, aren't there a bunch of
people putting out on social media every day that home
prices are dropping?
Speaker 5 (19:09):
Yes, And I mean you got to take this all
over the grain assaults, So these are year over year numbers.
Like I did do a calculation, and you know, like
the calculation that you do to get these percent changes.
You take the new value, subtract the old value, and
then you divide it by the old value, Okay, to
kind of get that percent difference.
Speaker 4 (19:27):
So you know the.
Speaker 5 (19:28):
Indicator that I think a lot of people make it
so scary. Like I went to our June numbers, and
I mean there was a decrease. I think it's a
healthy decrease though when you look at the number, so
like for Hillsborough County, the total from like I went
to June, thinking our right six months June is kind
of like you know, our hot month, right, it was
down two point three five percent.
Speaker 3 (19:47):
That's negligible.
Speaker 5 (19:48):
I think it's I think it's healthy. It's a shift
that you know, we've been needing. I think a lot
of us have been kind of expecting at least some
kind of softening correction, but nothing drastic.
Speaker 3 (19:57):
So that helps the buyers when it's a little obviously
the buyers can maybe get a little better deal out there.
So you know, when we get back in the next segment,
we're going to ask you about some tips for buyers
and sellers. We'll talk about mortgages a little later, but
we're gonna be back with some more stats in a minute.
This is super exciting news. If you ask me, I'm
the ultimate optimist, so maybe sending'll bring me back down
to reality. But stay tuned. In a minute, you're gonna
(20:18):
get some more statistics on the real estate market, and
we're gonna talk some mortgages on the Business Happy Hour.
Stay tuned.
Speaker 1 (20:23):
Welcome to the Business Happy Hour radio show with your host,
Frank de Bankkodo, the owner of Lincoln Lending Group right
here in Tampa Bay for twenty three years, joined by
his incredible co host, Senia Akishna, realtor with Mahara and Associates.
Speaker 2 (20:38):
Tampa's top real estate company.
Speaker 1 (20:40):
Together they have helped financing cloths nearly one billion dollars
of real estate every year.
Speaker 2 (20:46):
If you're looking for local mortgage or real estate advice.
Speaker 1 (20:48):
The Business Happy Hour team has been right here on
news radio WFLA for over a decade. Listen right here
or fight us on the Business Happy Hour YouTube channel.
Speaker 2 (20:57):
Or follow us on Instagram at Frank the Kodo.
Speaker 1 (21:00):
Now, sit back, relax, and get ready for some serious mortgage,
real estate and business talk with two of Tampa's top experts.
Speaker 2 (21:07):
Here's Frank Debay and Senio.
Speaker 3 (21:10):
Hey, Tampa Bay, Welcome back to the Business Happy are
your number one show for all things business and entrepreneurial. Today,
we're doing business today, we're actually doing real estate. It's
rare that Senny and I have a show that it's
just us. So we're focusing on statistics. We're focusing on questions.
Sen you just hit you. You excited me if people
can't tell that the median sales price year every year
(21:33):
has gone up nine point something percent. So there goes
the stat to all you guys who are telling people
that the prices are going down, and then you should
wait to buy wrong, and you should not wait for
the interest rate. You should marry the house and date
the rate. And then also talking about the number of
home sales up thirty three percent in Panellas County year
(21:57):
over year. But wait, Frank, nobody's going to move to
Panella's County anymore because of the hurricanes. I hear that
all the time. That's my that's my worried buyer voice.
There's been too many hurricanes. We're not going to go
back to Panellas County. We're going to go to Arizona. No,
you're not. Thirty three more percent people are going to
(22:18):
Panellas County, you know what.
Speaker 4 (22:20):
I've heard that too, right.
Speaker 5 (22:22):
But actually the last closing I just had, she's relocating,
you know, dranted from Florida, just from the other coast.
Another couple they're coming down from Des Moines, Iowa. And no,
they all know about the hurricanes. I just think that
people are still moving down here. But some of them
just might be, Hey, I don't quite want to be
(22:43):
so close to the water.
Speaker 4 (22:44):
Let's check out.
Speaker 5 (22:45):
What's a little bit more you know in land or
you know, go up north a bit. You know, they're
asking the questions, and I do think it's an important
question to ask when you're looking at a home. Hey,
how you know, were you affected by the hurricane? How
was the neighborhood? But I don't think it'll be a deterrent.
Speaker 4 (23:00):
For some people.
Speaker 5 (23:01):
Sure, just like you know, with any kind of thing
that happens. But I don't think we're going to see
a huge decrease of people moving down here. It's the
Sunshine State, you know, Tampa's doing such great things.
Speaker 3 (23:11):
I actually think, listen this, this doesn't sound weird. I
kind of think it's a good thing. You know why
I think it's a good thing because for one hundred
years we've been talking about we hadn't been hit for
one hundred years, and people nobody our age, nobody even
our parents' age, have experienced anything like this. So nobody
could look somebody in the eye and say yeah, yeah, yeah,
(23:32):
this neighborhood is not gonna flood. This is blah blah blah,
because all they have ever said is, oh, it's never
flood in one hundred years. Right, Well, guess what. We
now know what floods. We now know what neighborhoods will
be impacted. We took a freaking direct hit from these stormstairs.
I guess it could have been a little worse. It
can always be worse, right, but we now know, so
people like you and I in the industry now at
(23:53):
our age, we can say no, all right, this is
where you don't want to be yes, these guys had
four feet of water in this house. These guys had nothing.
These guys had six inches. So statistically, I think we're
in a better place now we can answer the question
more honestly at least.
Speaker 5 (24:09):
And I think hopefully everybody will start getting more prepared,
Like we're are all pushing flood insurance now, and even
if it's not required, I mean, I know, at least
all the insurance agents I've ever talked to, that's been
a thing for insurance psych If it's not required, you know,
you just look into it.
Speaker 4 (24:26):
And I don't know if that's still going to be
the case. We have to get another insurance guy on here.
Speaker 3 (24:31):
But yes we should. It's cheap if you are not
required to have it, right, it is so cheap it
is almost stupid not to have it.
Speaker 4 (24:38):
If that's always been in the shpiel.
Speaker 3 (24:40):
Yes, right, So if you're required to have it, yes,
the rates are all, you know, regulated and all that stuff.
But I'll tell you what a lot of people who
had their flood insurance got taken care of in this
last storm, you know, And a lot of people who
had their free and clear houses and didn't have insurance,
they learned a quick lesson. A guy asked me this
morning and the owls. He's like, I was talking about
canceling my insurance, Like the worst idea you can ever do.
(25:00):
Here's an idea, lower the policy. If you don't have
a mortgage, you don't have to carry five hundred thousand.
If your house is five hundred, can carry two hundred
or three hundred. It's better than nothing, dude, right, have
some insurance. So let's do some real estate tips. I
want to ask you this question, because this is always
a big one on buyer's minds. Have you ever had
a deal fall through for any unexpected reasons or in
(25:22):
an unexpected way?
Speaker 4 (25:23):
And what happened unexpected?
Speaker 5 (25:25):
Unexpected trying of thing like what pops out? I mean, sure,
there's always there's always things. And even though the ones
that we had with the hurricane may have been you know,
delayed a.
Speaker 4 (25:34):
Bit, but things got fixed.
Speaker 5 (25:36):
You know, you had to have really good roofers on
call that actually want to answer your call. Those are
important eurdon times like that. But I think one that
sticks out, actually that was a little bit recent. It
fell through for no reason at all except for the buyers.
Speaker 4 (25:52):
Just change their minds just change their minds.
Speaker 5 (25:55):
Yeah, it wasn't like not financing, not inspections, nothing else.
They had a deposit on the line and even their agent,
so I had the listing. The buyer's agent was just
like listen, I don't know.
Speaker 3 (26:08):
And did did they lose the deposit?
Speaker 5 (26:10):
They lost the deposit and they were okay, And you
know what in that case, like I do think this
is such a big investment. If you're going to be
living in this home, you better like it. I want
you to like it, you know what. Like I just
I think I respect people when they're you know, that
set in that decision. I mean, it sucks because a
lot of the other people, you know, deals writing on deals,
(26:31):
and all of a sudden one has cold feet, and
probably two other deals had to fall apart because of
it because there were contingent sales going on.
Speaker 4 (26:37):
But you know what, can't say the word yes, it happens,
it happens, It happens.
Speaker 3 (26:45):
A solution. I'm gonna mention anything else we need.
Speaker 5 (26:49):
Well, I have another one that I just think that
I still really point out. This was like really early
in my career and I wasn't even the agent. I
was kind of partnered up with another agent on it.
But we had a deal that.
Speaker 4 (27:00):
Was going through almost to the end, and it was this.
Speaker 5 (27:04):
Sweet little well maybe not so sweet, but this little
old lady that you know, she was just all her
own in this big, beautiful house, and she had this
room that had a lot.
Speaker 4 (27:16):
Of like custom shelves in it. Right, it was an.
Speaker 5 (27:18):
Office, but apparently they you know, just spent all this
money configuring it whatever. And usually in real estate it
reads it hey if it's a fix to the wall,
meaning that if it's something that's on your wall, that
if you remove it, it's going to damage the property
that conveys.
Speaker 4 (27:33):
So she didn't quite I guess grasp that.
Speaker 5 (27:36):
And then come towards the very end, she was like, well,
I'm taking these with me, and we're like, lady, like,
this is I mean, we're talking about the entire room
with shelves everywhere, like that's going to be quite a
lot of work.
Speaker 4 (27:49):
But she insisted, well, if they.
Speaker 5 (27:51):
Stay, then I want additional you know, say three or
five thousand dollars on the side. And the people buying
the home, they did not want these shells. They were
going to take them down, even take care of the
repairs you know and stuff. But she just she wasn't
having it. And I think the buyers just got really
fed up. But then they're like, you know what, this
(28:11):
is just yeah, and I mean I think it's over nothing.
But again, discuss all these things up front, right, you know,
if there's a certain you know, light fixture that you
really love, you know the buyer might really love it,
to make sure you talk about it up front, like, hey,
there's sentimental value there, I plan on taking that with me.
I'll replace it with you know, something else, or we're
(28:32):
just going to cap it.
Speaker 4 (28:32):
But just discuss it up front.
Speaker 5 (28:34):
That way, you don't have these last minute surprises where
there's some kind of miscommunication going into a contract.
Speaker 3 (28:39):
I love what you said. That is the moral of
that story is communication, communication, communication. I get to see
your buyers, they're like, okay, lady, you can have the
shelves and the house that it's connected to. I was
in that, you know. I see something came up yesterday
when we were talking about you know, title companies and
fees and things like that, and this this person brought
(29:02):
up scenarios where the people in the transaction, the real
estate agents, the mortgage company whatever. They get frustrated when
people are trying to negotiate for you know, a few
thousand dollars, and sometimes they let deals fall apart, like
a five hundred thousand dollars deal fall apart for five
thousand dollars, And I find that so absurd. I know,
(29:22):
you would never do it, Ray and Maharran Associates would
never do it. You know, nobody wants to lose money.
Nobody wants to come out of their pocket, you know,
especially at the end of a transaction. That's why we
work in teams that we can help each other out.
But I just find that, like that's something you could
ask your you know, agent, or you got to feel
comfortable with your agent to know, you know, it comes
down to a few thousand dollars. Are we all going
to pitch in and work this out? And I know
(29:43):
you guys will and we will too, So that's kind
of our advice. My advice to you is when you're
choosing your real estate agent, you know, you choose somebody
wh's going to represent you, but choose somebody who's going
to be there for you as well, like Maharan Associates Insinia,
because I know they're not going to lose a deal
when it comes down to a three thousand dollars negotiation.
I mean that deal right there, with those cabinets, it
almost like it should have never gotten to the buyer.
(30:04):
Should have been like, listen, we're gonna get it taken
care of. We're going to a company. We'll get them
taken out. Don't worry, ma'am, it's all fine. They're years.
We'll patch up the walls. You know. Those are kind
of things that stress people out, and then it creates
this animosity and then people say, go flat height, you know,
and not almost like the flight heights.
Speaker 4 (30:20):
No, I totally agree.
Speaker 5 (30:21):
I think ultimately she was just so attached to the
home and I think it was just a very big
change for her, Like her husband passed away not long ago,
and she was just he probably built the situation where, yeah,
it could be, but I think yeah, she just you know,
was just very emotional for her and with everything.
Speaker 4 (30:36):
I just don't think she wanted to let it go.
Speaker 3 (30:38):
I bet you on the next offer she let it go.
That's the way it always works. I'm sorry, I don't
want to be like pastious, but you know, we always do.
You guys joke about this sometimes, like it's almost like
sometimes I get the buyers. I have to lose one
to get one. Oh yeah, And that happened to my
wife and I many many years ago looking at a
house in Carewood, and and we thought this was it,
and we lost it, and it was really funny. The
sellers loved us, and the sellers caused us, called us
(31:01):
and said, listen, we didn't take your offer. We took
the other one because we liked you guys too much.
And I'm like, what do you mean, he goes, My
neighbors are back crazy. They're back crazy, right, And they
helped us out in the end. And then Nicole and
I found a way nicer house, a way more beautiful house,
(31:21):
which was awesome. So in the end, everything happens for
a reason.
Speaker 4 (31:25):
And I am a big believer in that.
Speaker 5 (31:27):
So you know, things do happen for a reason, and
they tend to work out better than maybe they would have,
you know, with the other thing that didn't work out.
Speaker 2 (31:33):
Yeah.
Speaker 3 (31:33):
Absolutely. So let's say we got a minute left, how
about you give a tip seven five five reel by
the way, it's how you get in touch with her
seven five to five reel. How about a tip for
a buyer or a seller right now?
Speaker 5 (31:44):
I mean, I think the biggest tip for both okay
categories is make sure you hire a great agent. Hire
an agent that you like, that you get along with, right,
but then you also feel confident it's going to have
your best interests at heart, right. It doesn't matter if
you're some people like a girl of style, like I'm
not an aggressive one, but that does not mean that
I can get a deal done. I am a great negotiator,
(32:06):
but I do things my way. I like to, you know,
work as a team, you know, with all parties involved,
and I do think that's a good way of getting
things done. But it's important now, especially if you're a seller,
you need the right pricing strategy. If you're a buyer,
you do need a great negotiator because buyers are negotiating
and you have to have that agent that can convey
what you want to get you the best price.
Speaker 3 (32:28):
I love it. I second that advice. And my grandma
used to always say, you catch more bees with honey, right,
and that is so true. That's why I don't let
the people at lincol Lending Group be mean. We stay cool,
just like Sandia and Maharan Associates. We're gonna be back
in just a minute and we're going to talk some mortgages.
So stay tuned if you want to find out what's
up with the interest rates.
Speaker 1 (32:45):
All the best mortgage or real estate advice from Tampa
Bay's top experts. It's the Business Happy Hour with Frank,
Debankkoto and Senia.
Speaker 3 (32:55):
Guys, welcome back to the Business Happy Or you're number
one two for all things business and entrepreneur. I am
in studio with Senia Akeisha from Mahara and Associates, my
amazing co host. If you guys need some real estate advice,
we've been given it all day, but we're just gonna
give you her phone number, which is uh eight.
Speaker 4 (33:14):
One three seven five five reel. I was looking at
your little wave.
Speaker 3 (33:17):
I know, I was over here waving to people. I'm
just trying to you know, trying to wave to our listeners.
Speaker 4 (33:21):
Hi, guys, that was to me. I'm like, you're right here,
just wave.
Speaker 3 (33:24):
Oh yeah. So eight one three seven five five real course.
If you need mortgage advice, it's contact Frankdbank dot com.
That's contact Frankdbank dot com for the reverse mortgage stuff,
reverse guru dot com And of course you can find
all of this on our social media. Please follow us
realtor Send and Frank Thebank Codo on social media. Check
(33:44):
us out on Facebook and Instagram. We also are live
every week on Instagram, normally from eleven to twelve first
twoes a month. Gonna be a little later, but we
will always post these out so you can watch us.
So how about rates?
Speaker 4 (33:58):
Send you don't let's do rates first? Yes, because I'm
always curious on what do your take on that?
Speaker 3 (34:03):
What do you think the rates are right now? What
are the buyers?
Speaker 4 (34:05):
I mean I hear I don't hear the stuff you hear.
I hear this stuff everybody else here.
Speaker 3 (34:08):
That's what I want to hear.
Speaker 4 (34:09):
You know that.
Speaker 5 (34:10):
I guess you know there's really no no change and
what it's been. But I know even what they say
is not always true because you say that.
Speaker 4 (34:18):
What we see on Google is not really what it is.
Speaker 3 (34:21):
I just googled it. And you know how Google has
this little AI thing now, like like if you ask
a question and then it gives you these other questions,
you click on them and it literally says AI overview,
which be careful guys, because it's not always correct on
some things. Okay, we got in trouble on something recently
that was not right. Don't use mortgage guidelines with Google.
By the way, it says as of February third, twenty
(34:43):
twenty five, the national average on a thirty or fixed
mortgage interest rate was seven point zero two percent. This
is based on the survey of the largest mortgage lenders
in the country. Really, that seems a little high, doesn't it.
Speaker 4 (34:53):
See, I mean it does because that's not what I
hear from you, No.
Speaker 3 (34:56):
Exactly, So you know what it really is, guys. The
FA rate right now is five point six two five
to five point seventy five percent. Faha, and va, you
are in the fives. So for all you guys saying
well I'm going to wait to buy until rates are
in the fives, they're in the fives. It's time to
(35:19):
buy now. It really is. And you still have what
Cinnea just spent the whole show explaining is you still
have sellers willing to work with you because we still
have a little bit of that seller's market. The information
isn't out there yet. People are like, why, I honestly
think it's greed it's you know, I say it like this,
and somebody give me a better idea. Somebody come on
(35:40):
the show and tell me I'm wrong. You're selling a
widget for two dollars. The economy says that that widget
is now on sale for three dollars. Okay, because whatever
price is whatever, all of a sudden, your cost goes
back down, and you could sell that widget for two
dollars again to make the same amount of money. But
everybody in America is willing to pay three dollars. Are
you gonna drop the price to two dollars right off
(36:02):
the bat? I say no. I say, you know, most
business people are not going to do it. Now. We
at link In are a wholesale mortgage brokerage business, so
there's no benefit to us. Right, We're already almost a
point and a half lower than the biggest banks in
the country. Right, it doesn't change anything. We can give
you the five six two five, we're gonna make the
(36:23):
same amount of money. Right, So a conventional rate Fannie May,
you're like six and a quarter, right, so you're almost
a point lower there. You're almost a point and a
half lower on FHA and VA. I really don't know
what else to say, besides.
Speaker 5 (36:36):
We have those numbers, like I mean, are they just
getting it from like a lot of like the retail
banks are like, yeah, how is it so much higher
there than what you're giving?
Speaker 3 (36:44):
So it actually shows it on here. It shows if
you google it, it shows you all the places they
pulled them from, Guaranteed Rate, US Bank, Zillow, Mortgage Newsdaily,
bank Rate, dot Com, nerd wallet at Bank of America,
Wells Fargo. So that's where they're pulling them from. So
they're pulling this data from the big boys. Now, big
boys have more expense, right, It's why you know you
(37:05):
work your shop with the local business owner. They usually
can cutch you a better deal because it's simple, they
have less margin. Right. Yeah, we have forty five employees,
which is pretty big for a small business, but that's
still way different than forty five hundred employees or forty
five thousand employees where you have to collect more money
to pay all these benefits and insurances. And think about
(37:26):
if you have eighteen hundred branches across the country, Well,
you got to make the money to keep the lights on, right.
Speaker 5 (37:30):
Well, you've educated me on that before. So actually, you
agents that are listening. Go to Frank's lunch and learn tomorrow,
because he does cover this and there are just things
that we as agents, you know, don't really think about,
don't know that part of you know the business and
how it all works. So it's a great thing to
check out. Frank's going to teach you a lot of
stuff that we don't usually.
Speaker 4 (37:49):
Cover on the show.
Speaker 3 (37:50):
Thank you, And it is on the Instagram on the Facebook.
So let's you've asked me to do this before and
all we never have time. So it's a math, right.
You're always like, well, what does that really mean to
a consumer? I did it in a seminar the other
day and I'm going to do it again tomorrow. If
let's say you have a five hundred well, let's say
your approved for four hundred thousand dollars and the bank
gives you the seven percent rate, but it's not enough.
(38:14):
Sinny is not able to find you the house for
four hundred thousand. You really need a more expensive house.
The difference in the rate and what you qualify for
by going from seven percent to five point seventy five
a point a quarter difference is about eighty thousand dollars.
So if you don't think the rate matters. If you
think it's just your payment. It makes a difference on
(38:35):
what you qualify for. Said, that's what the real estate
agents need to hear is, Yeah, you got this guy
at guaranteed rate, who's you know, your best buddy, and
you guys golf with him and stuff. But he keeps
giving your client seven percent. Who's he helping? He's he's
hurting the maximum qualification for the client. Now what does
it mean in dollars? The dollar difference in that interest
(38:57):
rate change right there on five hundred thousand is almost
seven hundred dollars a month, right, No less than five,
no more than seven. So what is that? If five
hundred dollars a month doesn't interest you, then I guess
you're buying cash, right because five hundred dollars a month
(39:18):
is a lot of money to Frank the bank, So
I hope it's a lot of money to you guys
out there.
Speaker 5 (39:23):
So that I love the math, I'm going to have
to re listen so I can actually jot it down. Yes, yes, I'm.
Speaker 3 (39:27):
Going to send you some screenshots that i'll actually show you.
But this is, this is what I want everybody to understand.
Is the interest rates do have a very major impact,
not only on your monthly payment, but on how much
money you qualify for. So if you're a real estate
agent and you have a client that just can't get
what he needs because he's talked to somebody else, let's
do it. By the way, I'm gonna leave you guys
with this downpayment assistance. Everybody talks about it way better
(39:50):
programs at Lincoln Lining one hundred percent FHA. You don't
have to be a first time home buyer and you
don't have an income restriction, you don't need the down
payment assistance. We can get your one hundred percent financing.
We just did it for the Leah King Group and
save somebody's button. Saved them seven thousand dollars on the
same deal at a lower interest rate.
Speaker 4 (40:08):
So we had a time for reverse mortgage stuff.
Speaker 3 (40:10):
I ran out of time for reverse mortgages. I know
she's got a great reverse mortgage question for me, But
next week we will talk reverse mortgages. Just go to
reverse guru dot com. Check it out, answer all the
questions about reverse mortgages, and I promise you will not
lose your home. It's nearly impossible to do that send.
What's new, that's it, what we got.
Speaker 4 (40:28):
That's it?
Speaker 5 (40:29):
Happy, Happy super Bowl and Happy Valentine's Day everybody.
Speaker 3 (40:32):
That's right, I guess go birds go birds.
Speaker 4 (40:35):
Yes, let's do it.
Speaker 3 (40:36):
Oh got that hurt. We'll see you guys next week
on the Business Happy Hour. Thank you for listening. It
makes you like and share. Have a great week.
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