Episode 79

full
Published on:

29th Sep 2021

079 What does a seller have to disclose in Florida?

In today's episode Shelley explains what sellers disclosures are and what sellers are required to disclose in Florida. In the news interest rates are stable, buyer demand is still high, and Canadian Snowbirds are poised to return this winter! (We love our snowbirds.) Finally we wrap up with The Local Flavor featuring Duval's Fresh. Local. Seafood. This place is AWESOME!

Links from this episode:

  • Shawn Yesner of Yesner Law in Tampa, FL - Visit yesnerlaw.com or call (727) 261-0224
  • JoAnn Koontz of Koontz & Associates in Sarasota, FL - Visit koontzassociates.com or call (941) 225-2615
  • Local Flavor featuring Duval's in downtown Sarasota, FL - Visit duvalsfreshlocalseafood.com or call (941) 312-4001

Need help with your real estate questions? Call or email Shelley for a no pressure conversation about real estate in the Sarasota area!


Transcript

Shelley:

:

So Ed what do you have to disclose to me now come on right now is the time fess up what do you have to disclose.

Edward:

:

Okay I don't feel comfortable with this whole tone without the presence of my attorney Shawn yesner with yesner law in Tampa Florida.

Shelley:

:

Wow did our podcast episode just become an advertisement for Shawn yesner with yesner law out of Tampa.

Edward:

:

That's ridiculous but for your free initial consultation give Shawn a call at seven two seven two six one zero two two four.

Sound Pad:

:

Welcome to selling Sarasota podcast in every episode Shelley lays the smackdown on misinformation and delivers key insights into local real estate

Sound Pad:

:

grab your notepad sunscreen and flip-flops it's time to listen and learn how to successfully buy and sell homes in Sarasota Florida,

Sound Pad:

:

so you too can enjoy living in Paradise,

Sound Pad:

:

here to show you how is published author speaker business trainer and your residential expert Shelley panas.

Shelley:

:

So all of that nonsense and Mayhem may have been more about you know our podcast episode about disclosures.

Edward:

:

Exactly.

Shelley:

:

Then harassing you but I don't know her asking you is going to fun well before we get started in today's episode we are going to have a discussion about sellers disclosures and what's required.

Edward:

:

Oh I see what you were doing there makes more sense now.

Shelley:

:

I'm clever and then we're going to follow that up with some news and market update and of course wrapping it up with a local flavor where we're going to talk about Duvall.

Edward:

:

There you go and and joking aside if you need a good attorney yes nola.com just saying it just Sean is a friend of the show and so everyone's followed we can promote one of our friends we will.

Shelley:

:

There you go so all of this started because I'm constantly having buyers I shouldn't say constantly but once or twice a year,

Shelley:

:

her like oh my gosh why didn't they tell us about that once they get their inspection report they had to disclose that and they're so upset thinking the seller was trying to trick,

Shelley:

:

and almost always it's something like well do you know what your attic looks like most people don't do you Edward do you know.

Edward:

:

My I just cleaned ours like a week or two.

Shelley:

:

So you know what our attic looks like.

Edward:

:

It's a mess.

Shelley:

:

But most people haven't been up in their attic or crawled around and looked at every millimeter of their home so they may or may not really know some of this and then it came down to what's really legally,

Shelley:

:

acquired so let's go through it.

Edward:

:

So let's talk about disclosures.

Shelley:

:

Absolutely because what a seller has to disclose at the time of sale it's going to vary greatly from state to say because again,

Shelley:

:

real estate is local in nature in the states dictate what has to be done,

Shelley:

:

so if you are a buyer or for that matter a seller in your planning a real estate transaction,

Shelley:

:

any state besides Florida let me just say right up front check with your agent or if you don't have one give me a holler and I can help you find a good one,

Shelley:

:

but check with your agent to see what the state requirements are where you are because again I'm amazed at how different they can be,

Shelley:

:

and disclosures just right up front through there to let a buyer know any facts or conditions that may affect the value of a property or even its desirability,

Shelley:

:

typically it's for things that can't be readily seen like if you walk in and there's stains on carpet,

Shelley:

:

I tell people go ahead and disclose them anyway but if you can walk in and you can see the carpet stained those aren't really required because that's not what this is about but when in doubt disclose disclose disclose,

Shelley:

:

here are a few items that.

Edward:

:

The more you see that word the weirder it.

Shelley:

:

I know right,

Shelley:

:

um there are a few items that specifically in Florida that are requirements if you know about them radon gas if you know about it share it Coastal properties.

Edward:

:

Share that it's their don't share the radon gas.

Shelley:

:

You don't share the radon gas just that property may have a pretend propensity for an issue Coastal properties that may have a potential for a Roshan,

Shelley:

:

that has regulations regarding construction that you know about like if there are specific things you cannot do like at a dock if you know that you should disclose it,

Shelley:

:

if there are protection or protected structures in the area or even like beach nourishment in the protection of the sea turtles,

Shelley:

:

if you know there are specific regulations you need to you need to disclose that communities with man but Amanda member of Tori's.

Edward:

:

You English good.

Shelley:

:

Communities with mandatory memberships like HOAs or condo fees,

Shelley:

:

we have separate documents for that but that does need to be disclosed as well so that the buyer knows there is not just your mortgage you're going to have to be paying but additional fees as well,

Shelley:

:

thumb tacks summaries this one is rarely I see and frankly I don't think it's up to a seller to disclose because 100% of the properties,

Shelley:

:

in the State of Florida are affected by it so everybody must know when someone sells their home the next buyer may have a different tax on it not because the tax rate changes,

Shelley:

:

but the current seller may have a disabled veteran disability that gets them.

Shelley:

:

Either a reduction or no no property tax penalty or

Shelley:

:

payment at all they may have a homestead in the next person might not there are all sorts of things that can affect it so just know when you buy a property you may not be blessed with the same tax rate the current owner has,

Shelley:

:

you must disclose if there are any actual or potential legal claims or complaints,

Shelley:

:

um with the court systems we see this most with condos like the condo association is being sued by a former owner or current owner because they don't like something,

Shelley:

:

the condo association has to share that information but you yourself if there's something going on in the neighborhood and you're getting sued a property dispute on you know who owns that two feet to the right of your house well

Shelley:

:

you need to share that that's a lawsuit in the making so that the next owners aren't stuck with it,

Shelley:

:

what's next whether any disputes to property proud boundaries I just said that one if there are any past or present sinkholes typically not in our area but the center of the state has more problems with that,

Shelley:

:

if the property contains any environmental hazards such as a bestest LED mold defective drywall,

Shelley:

:

so any property that,

Shelley:

:

is past a certain age you may or may not have asbestos in the property if you know about it you disclose it if you don't know you can't disclose something I don't know you've never had.

Edward:

:

So you're not you're not required to test your house for something like a bit asbestos to then disclose it.

Shelley:

:

Correct it's just if you ever want to have work done in the worker said hey asbestos disclose those things and some of them,

Shelley:

:

and we'll get to that later are required even at the federal level,

Shelley:

:

if you have any info stations that's a pleasant word or damage that may have occurred from wood destroying organisms termites fungus if you know you have had or currently have termites,

Shelley:

:

share that information because the inspectors going to find it and you're going to have problems later so just go ahead and share that and disclose it right up front yes and you know 2012 there were termites we had it treated termites gone everybody's happy,

Shelley:

:

that way it doesn't come up later,

Shelley:

:

and of course if there's any structural problems or essential components of the home such as Roofing Plumbing electrical excetera if you know there's problems with them say like if you've got an outlet that doesn't work put it down,

Shelley:

:

things you don't need to disclose if the property has been inhabited by a person that's been affected with AIDS or HIV someone's lived there

Shelley:

:

that was a big Hot Topic in the 90s but anymore I don't think people would even question it back then it would have been but no that does not have to be disclosed because it's a privacy issue

Shelley:

:

and in the State of Florida you do not have to disclose that a murder-suicide or death occurred in the home other states you do.

Edward:

:

I think California you do because I had a friend of mine who had run into that issue in California.

Shelley:

:

Yeah in a lot of times you don't live in a vacuum if a suicide or a death or murders occurred in a home you know who knows that,

Shelley:

:

your neighbors you know who's going to say something to the new owners,

Shelley:

:

the neighbors so I say well it's not legally required you may want to just mention it anyway because some people don't want to live in a house.

Edward:

:

Well I mean and I mean not to be Seaman crass but in a state like Florida.

Shelley:

:

Or we have a lot of elderly.

Edward:

:

We got a lot of elderly folks and not everybody dies in the hospital or hospice I mean so that's a very common thing.

Shelley:

:

Sure so it is not required but if something has happened in the last year or two you may want to just.

Edward:

:

Right yeah because that wasn't my point was is that death may not be a big thing to a buyer but like murder or suicide come up to the next bullet point this reason I think.

Shelley:

:

Yeah exactly and the next one in Florida you do not have to disclose and I pointed out because there are some states you do if you think the house is haunted and has a ghost's so Florida we do not have to however.

Edward:

:

Well and you would think of all places Florida you would think of we would have to have any type of law regarding ghost or paranormal.

Shelley:

:

I do have an app though that's called Ghost Radar that I can use this app and look up goes,

Shelley:

:

it's not real but it's funny because I sometimes open it up and of course whenever I think to open it I'm almost always in brand-new construction so one day one day I'm going to have a ghost us'.

Edward:

:

Pause any yeah because there are some people I'd people think that you know ghost stick around after like a murder or suicide so that's why.

Shelley:

:

And there are states that legally require you if you think your house is haunted to share that information.

Edward:

:

Definitely there's a lot of that going on in New England.

Shelley:

:

Yeah and so a lot of the western states have it finally there is a federal requirement that needs to be closed disclosed upfront if a home is built prior to 1978,

Shelley:

:

there's a potential for lead-based paint now one I say the potential if the home was built before 1978 it 100% had led in the paint because that's what made paint stick to the walls back then,

Shelley:

:

laws were passed you can't use lead in the paint anymore all you have to do to protect yourself from it if your home is older than that is one don't lick your walls and join your window sills into if there's any paint shape shaping chipping scrape that up,

Shelley:

:

and then paint over it like literally to remediate it all you have to do is paint over it.

Edward:

:

That lead paint was so.

Shelley:

:

As hard as nails.

Edward:

:

Dirt so freaking durable and it tasted so good.

Shelley:

:

Yeah that explains a lot.

Edward:

:

It does I was born before 78 so.

Shelley:

:

And one other thing is a lot of times people are like well it's an as is home I don't have to disclose anything

Shelley:

:

and the law specifically states that does not relieve a seller of an obligation to let her buyer know of potential or existing details now there are times that,

Shelley:

:

you know I obviously don't necessarily know 100% of the history of a home how could I have not been in it other than a few moments here and there and,

Shelley:

:

we'll get calls and again I can be representing the buyer or seller and it'll be like well they knew that was a problem with,

Shelley:

:

I don't know let's say the AC unit well how do you know that well they called the phone number on the AC unit and found out in this happened to one of my buyers they bought a house,

Shelley:

:

they called the number on there to have somebody come and go yeah we told them to replace that two years ago,

Shelley:

:

well guess what this isn't that big of a town There's likelihood that the same service people that you know told you you needed a new AC did not disclose that and now the buyer has,

Shelley:

:

somebody who in theory said you need to disclose something and did not sow,

Shelley:

:

it's really difficult I mean I know what like wandering around here when I go to use something like oh yeah that cabinet door sticks,

Shelley:

:

but when I'm sitting down to fill out a piece of paper you know what I'm not thinking about well there's nothing wrong with this house nothing's broken we keep up on things you forget.

Edward:

:

Well and then in the case of my mom recently sold her house and watch my poor mom trying to work through that because.

Shelley:

:

Your dad had done it all.

Edward:

:

My dad had done most everything to the house and my mom's older and so her memory is not the best but she also she's lived in that house in very long time and so to her,

Edward:

:

it was like there's nothing wrong with my house it people get emotional and they start getting up I mean we've seen that when customers get offended because like we means something wrong with my house it's like it's not a personal attack it's,

Edward:

:

get if there's anything structurally wrong if there's anything defective you need to let people know we keep yourself out of trouble.

Shelley:

:

Absolutely and I've heard that exact statement before well there's nothing wrong with my house well I guarantee if I came home inspector I could come out with a 47-page report of things that are wrong with it,

Shelley:

:

almost every house needs grout to be redone in the tile work and,

Shelley:

:

the silicone seal around the edges of sinks you know they're little things like that and you may or may not know it,

Shelley:

:

but really think through it and if you have any doubts at all do a pre-listing inspections let the inspector tell you what's wrong with it and take care of any of the minor thing so you don't have to address them later,

Shelley:

:

so that's it just closed.

Edward:

:

Disclosures.

Shelley:

:

Not that I was accusing you of you know having things too.

Edward:

:

Well let's just before I have to call Shawn let's go ahead and move on to the news shall we.

Shelley:

:

Let's show.

Sound Pad:

:

A market news with Shelly and.

Edward:

:

Alright starting off this week's news or this episodes news with the new more condensed market snapshot.

Shelley:

:

Nice so do we just need to ask add water to turn it into a full glass of.

Edward:

:

Sure we'll go with that it's dehydrated water just Add Water all right so first foremost is kind of always the first thing we kick off the market snapshot with,

Edward:

:

interest rates because every other article we read is about interest rates because everybody is just on the edge of their seats waiting to see what's going to happen with the Fed.

Shelley:

:

And what is happening.

Edward:

:

Well as of this recording the rates had edged up very slightly from 2.86.

Shelley:

:

Whoa I will we handle it.

Edward:

:

I don't even know the difference there but yeah sub 3 sub 4,

Edward:

:

awesome I think will be shocked if we ever have to report on anything north of three or four percent so little background the recent meeting with the FED suggested that rates can start going up at the end of 2020,

Edward:

:

they've been saying the same thing for a while now it's you know sometimes we need 22 and 23 so everybody stay tuned for that buyer demand.

Shelley:

:

Yes are they demanding buyers.

Edward:

:

Well sometimes they can be you work with him more than I do right now in this market they're not demanding a whole lot but that's not what I mean to buyer demand,

Edward:

:

talking about the level of interest that these buyers have in buying homes,

Edward:

:

all over the place alright August existing home sales Nationwide dropped two percent after a couple strong months as some buyers are kind of sitting on the sidelines now they're just,

Edward:

:

tired of the high prices or higher prices they wanted to take a breather and see what happens,

Edward:

:

the other part is now with the u.s. having plans to ease covid travel restrictions start in November more foreign buyers could be entering the market in the US at the end of this year.

Shelley:

:

And just to interject really quickly that's important in our area because Sarasota Manatee County in particular 25% traditionally 25% of all buyers are,

Shelley:

:

foreign buyers and then therefore become foreign sellers at some point so having them dip their toe back in the market not a bad thing.

Edward:

:

There you go home prices give you three guesses what's going on with home prices up down or flat.

Shelley:

:

Mmm I'm going to say still going up oh man you think I knew this.

Edward:

:

Median home prices are up 18% for single-family homes and 16 percent for condos year-over-year and that is Nationwide condo sales are much higher right now,

Edward:

:

as far as the rate at which they're selling,

Edward:

:

condos are selling right now but 13 percent more and vs. 0.2% vs. single family home so that's how many more selling in the market so condos have gotten really popular lately,

Edward:

:

part of that's just a buyer demand lack of single-family homes and prices going up condos are affordable option.

Shelley:

:

And I also think it's partly some of the people who are moving here from other states they're coming from,

Shelley:

:

areas around Washington DC or New York Illinois you know in Chicago and they're used to living in condos or apartments where they're at

Shelley:

:

so they're not used to the single-family dwelling because you know right downtown Chicago you're not going to get one of those without spending a fortune.

Edward:

:

Well as we move on over to New home builds,

Edward:

:

more information behind that New home builds are up 3.9% Nationwide what's interesting way that breaks down is,

Edward:

:

21.6% of that,

Edward:

:

there was a 26 between 1.6 percent increase in apartment builds in a 2.8 decrease in single family homes,

Edward:

:

in the month of August so that's kind of interesting new construction starts actually this year over year new construction starts were at one point four percent increased in the Southeast us,

Edward:

:

it's us and I think a big chunk of that was probably Florida the and build her confidence is up in August after a three-month decline so,

Edward:

:

Lots so basically interest rates are still low buyer demand is still very powerful even though it's receded a little bit home prices are up New home builds or up everything's up we're looking good.

Shelley:

:

And we are happy about that right now I feel like we need it done darling that Dada that the news is ending.

Edward:

:

Well news isn't any but I was just as market snapshot.

Shelley:

:

That was just okay.

Edward:

:

But we are going to be working on doing it get a little outro I've got a ping are voiceover guy to come up with something.

Shelley:

:

That was showing a okay.

Edward:

:

Something like that will come up with something you know very serious and borderline stoic.

Shelley:

:

Yes very much like us okay well then moving on with another Topic in the news is dwindling supply of homes may be poised for a turnaround,

Shelley:

:

the American housing market has been red hot,

Shelley:

:

really red hot the combination of low borrowing rates,

Shelley:

:

what are we here less than 3% strong demand for more living and work from home space as the pandemic wears on and the tight Supply have driven prices up,

Shelley:

:

in July the average price home was 360,000 which is up almost 20 percent in one year.

Edward:

:

You think that's a lot.

Shelley:

:

Let's think and high prices have been climbing each month for nine and a half years so it's not like this was a new trend they've been going up steadily since you know the economic situation we had in the late 2832 10,

Shelley:

:

this trend will likely continue when the August existing home sales are announced on Wednesday that's this upcoming week,

Shelley:

:

while concentrating on prices and sales which are indicators of demand which is important don't overlook Supply more homes may be hitting the market which,

Shelley:

:

could make it look like it's cooling down some because you're not all competing for the same one home if there's now three on the market why good question head.

Edward:

:

Why Shelly.

Shelley:

:

Okay good question thanks for asking,

Shelley:

:

in May of twenty 20 more than four million homeowners were in forbearance which is allowing them to delay their payments by mid-august of this Summer that number had dropped from that 4 million to 1.6 million people

Shelley:

:

and that's according to the Mortgage Bankers Association,

Shelley:

:

that's about one out of every 31 borrowers had that had been postponing their mortgage payments and most have been delayed payments for more than six months,

Shelley:

:

meantime the better.

Edward:

:

One quick question are you ever shocked that there's organizations for different groups like Mortgage Bankers Association was there a need to have a club for the.

Shelley:

:

I don't right.

Edward:

:

I mean I don't know I just I think of certain groups it's like I understand if there's like a police officers Association or firefighters or like construction unions and things like that but I always think is interesting is like mortgage lenders.

Shelley:

:

Maybe I'm yeah I think I'm cynical because the minute I read blah blah blah blah blah Association I think oh so that's their Lobby group.

Edward:

:

Hosea and I always think hey somebody came up with a way to make a club so they could charge dues and print a newsletter.

Shelley:

:

Yeah see I just automatically assume oh oh that's who's lobbying and behalf of what they want for laws.

Edward:

:

I mean cycle mirrored Furniture we didn't we you know there wasn't the couch stuffer Association or whatever I don't know it's true I never stuffed any couch anyhow moving on sorry about that.

Shelley:

:

Meanwhile the federal moratorium on foreclosures did expire in July,

Shelley:

:

home foreclosure is a process so ending the suspension is unlikely to trigger a crush of cases because it's not like they can just flip a switch and now anybody who is,

Shelley:

:

potentially leaning toward a foreclosure Hoops boom now it's done this this is going to take awhile.

Edward:

:

Well plus air base case it is very unique.

Shelley:

:

Right and instead what may happen is the expiration of that,

Shelley:

:

again the Foreclosure moratorium may spark those who have been struggling homeowners they were struggling to make their payments they may just sell their home before risking of foreclosure,

Shelley:

:

that way then just get out from under it Zillow estimates 850,000 homeowners will have their mortgage exit forbearance between August and October,

Shelley:

:

potentially pushing tens of thousands of more homes on the market,

Shelley:

:

any early evidence of this new Supply will begin showing up in the August data is it's released this week here in September these may you know be motivating sellers hoping to cash in on the market,

Shelley:

:

so they can you know clear up any of their their debt and move on.

Edward:

:

I mean yeah it's sad for anybody who could end up losing their home because of the or having to sell their home prematurely because the pandemic however its,

Edward:

:

in the circumstances looking for the Silver Lining to that great cloud,

Edward:

:

it's you could pick a worse Market to have to sell your home a lot of these folks could end up being even though they don't have money to keep paying for their home they could look like said sell their home exit and potentially make a small profit off.

Shelley:

:

Oh exactly if they owe $300,000 in the house is now worth four and a quarter,

Shelley:

:

well that Delta the bank doesn't get it just you know the bank will get their pay off but it could set them up and it may not not everybody,

Shelley:

:

potentially has Equity but that is a huge difference between this time and what happened and again 2008 through 10 is back then people didn't have equity in their homes,

Shelley:

:

now they do so if someone has to sell it's not going to hopefully leave them destitute and now like you said the prices are what they are so at least they can get out,

Shelley:

:

the gettin's good not that the hey I have to sell and also its at rock-bottom pricing.

Edward:

:

And so we just said home prices are up 20% so I mean if.

Shelley:

:

It's got to be worth more than they paid.

Edward:

:

If it's not if it home prices are up 20% and you're still under water well you were probably in very very serious Dire Straits before the pandemic but hopefully knock on wood hopefully everybody's you know I'm going to,

Edward:

:

come out of this fine so alright.

Shelley:

:

What do you have Oh Canada.

Edward:

:

I almost killed that up I didn't so more Canadian snowbirds plan their Florida return.

Shelley:

:

Well there you go we miss our Northern.

Edward:

:

Because it's we miss our Northern neighbors and we definitely need to get more people down here if we could figure out how to get just more people in this state.

Shelley:

:

Right.

Edward:

:

Yeah any rate love the snow towards love Canadians come on down we've got plenty of room no houses.

Shelley:

:

Yeah exactly we're working other though bear with me.

Edward:

:

Plenty room any rate a summer survey found that over 90% of snowbirds expected to return to Florida this winter but sentiments have dipped a bit since the covid Delta variant hit.

Edward:

:

I think every time we bring the Delta variant we purposely joke about Delta Airlines because they're jerks,

Edward:

:

we had to cancel some plans ever the airline sure no problem here's your money back Delta and anyhow.

Shelley:

:

Pad Delta anyway.

Edward:

:

Talking about talking about the Lesser.

Shelley:

:

Talk about the Canadians we like them.

Edward:

:

The less offensive Delta the virus anyhow.

Shelley:

:

Yes.

Edward:

:

After staying home last winter more Canadian snowbirds plan to return to Florida in 2021.

Shelley:

:

Think about that statement if someone's been coming down here for 5 or 10 years and literally staying through the entire winter because a lot of them come down for 4 to 6,

Shelley:

:

that might have been their first winter in years,

Shelley:

:

just I don't know that occurred to me that instead of having a 90-degree winner they were back to the Canadian cold.

Edward:

:

So they were they were hating life even more than all of us anyhow so Wallace Wiley,

Edward:

:

legal counsel for the Canadian Snowbird Association another Association,

Edward:

:

the Canadians no bird Association no offense to you to you lovable folks with the CSA but the Canadian Snowbird Association seriously I think in this is give me some do's and I'll send you a newsletter,

Edward:

:

said there seems to be a lot of pent-up demand from regular snowbirds to return to a warmer climate duh no.

Shelley:

:

Someone's not been one I think there's a demand for them to become one.

Edward:

:

I'm guessing that even though he's an attorney know that Sean that this is Wallace Wiley character is Canadian so he's probably very nice.

Shelley:

:

It probably.

Edward:

:

Very nice so I should not tease him about.

Shelley:

:

Because you might upset him a wee bit.

Edward:

:

Yes and he'll write me a sternly written email and then apologize the sentiment is that they're not going to spend another winter in Canada good for them I don't think they should only a bishop spending winter in Canada.

Shelley:

:

Yeah.

Edward:

:

Plenty room come on down the first year of covid-19 God that just turns my stomach the first year of covid-19 saw a lot of Canadian snowbirds deciding to stay home said Stephen fine president and managing editor of snowbird advisor.

Edward:

:

We're in the wrong business we guys just start we had start started you know magazines and associations for random things any rate I want to get a copy of this,

Edward:

:

I'm going to copy the snowbird advisor at some point I'll figure that out for a future episode anyhow a student survey connected,

Edward:

:

Jimmy a survey conducted by the publication last year found that only about 30% of snowbirds return to the usual Sunny destinations for the 2021 season,

Edward:

:

this year things look a little more positive but sentiments have dipped a little since Delta variant,

Edward:

:

Delta we did surveyed this in this we did the survey in the summer before cases went up and at that point the expectation was over 90% of snowbirds were returned,

Edward:

:

we don't think at this point we're going to hit 90 plus that would be almost pre-pandemic levels so it probably somewhere between last year and that probably around 50 to 60%,

Edward:

:

interesting despite the strength of the Sarasota area real estate market

Edward:

:

local real estate agents say that Canadian buyers haven't done much purses purchasing since the pandemic began some of the older Canadian homeowners are selling their Florida properties while the younger active adults in their 50s and 60s,

Edward:

:

like here like those numbers being referred to as younger are holding on to their assets hoping for better post pandemic days aren't we all.

Shelley:

:

I was really surprised frankly over the last year that you know when people first off there was a travel moratorium you couldn't,

Shelley:

:

come you know go back and forth between states let alone countries and I really expected,

Shelley:

:

a bunch of Canadians in a bunch of our international buyers just are people who already own property down here just to say,

Shelley:

:

you know I'm going to sell and I truly expected kind of a glut of listings to be on the market but I was really surprised a great many of them just held on and you know it and of course eventually it's going to end but,

Shelley:

:

course being somebody who's a listing agent I was hoping they'd all just pick up the phone and call Shelley ct1 Shelley.

Edward:

:

That's right at c21 Shelly.com or give Shelly call it dying for a 1960 5115 that is 9 4 1960 5115.

Shelley:

:

Boy we can turn anything into a Shameless plug.

Edward:

:

Pretty much.

Shelley:

:

But yeah I truly expected to see more International sellers than what I did.

Edward:

:

I'm kind of guessing that I have very high opinion of our Canadian neighbors and I'm thinking they were probably just being very Canadian and being gosh darn it we're just going to wait this out and we're going to see what happens and we're going to be positive which.

Shelley:

:

Well in really.

Edward:

:

Every Canadian I've ever known been friends with.

Shelley:

:

And let's face it with any disease that's transferable,

Shelley:

:

not just jumping on a plane or a bus or a train or even driving down more than you've got to stay in hotels and eat in restaurants it was probably smart that they stayed put and froze their Fannie's off last year and we're glad to have him come back this year,

Shelley:

:

now let's talk about the top 10 u.s. overpriced housing markets,

Shelley:

:

I hear that all the time that Florida oh my gosh they're so overpriced everybody's moving to Florida in the prices are out of control,

Shelley:

:

so we found the top 10 overpriced markets and I'm happy to say there is not a single Florida property on there.

Shelley:

:

Now I know you've already seen the list but if you hadn't seen the list what would you have guessed would be the.

Edward:

:

I would have I would have expected that Miami would have been in the on the list Miami or Jacksonville but it would have been my guest somewhere in the top 10.

Shelley:

:

And then around the country itself where would you have guessed to be like the top places.

Edward:

:

Honestly I would have picked probably New York City around that area I would have picked like for specific areas I'd save New York City Seattle San Francisco for sure L AA anywhere.

Shelley:

:

Anywhere in California or around Chicago Chicago Chicago.

Edward:

:

Chicago's although the thing are baby making a mass Exodus from some of these places maybe the it's affect them or I don't know.

Shelley:

:

So anyway the number one area with overpriced housing Boise Idaho.

Edward:

:

Not shocking.

Shelley:

:

Whopping 80 point six four percent.

Edward:

:

Yeah I lived in Boise for about a year great down that's like seven or eight years ago very affordable back then now forget about it is yeah.

Shelley:

:

Get about it the next one I blame Joe Rogan Joe if you're listening first off thank you until your listeners second off Austin Texas and he moved there so I blamed him 50%.

Edward:

:

Wow that's 50% overpriced.

Shelley:

:

Overpriced yeah Ogden Utah close to it at 49.7 followed up with Provo Utah what's going on Utah settle yourselves down Detroit,

Shelley:

:

I would make a joke that any price in Detroit's overpriced because who wants to live there but that's just because I'm from Michigan.

Edward:

:

Yeah right I'm amazed that Detroit has overpriced but again over you said overpriced housing good mean they're just trying to sell something that's not worth anything.

Shelley:

:

Exactly it you know and it could be that it is it that they're over 50 percent or is it that they're fifty percent of the market is overpriced.

Edward:

:

No the way I read it was how far they were overpriced these desert statistics are like so if it was a hundred thousand whatever 80,000 above that I guess would be another 80,000 I don't know so a hundred eighty thousand I'm guessing math is hard.

Shelley:

:

Yeah okay followed up number six Spokane Washington then Salt Lake City Utah what is going on that's three on the top 10 list are out of Utah then Phoenix Las Vegas and finally a Stockton California.

Edward:

:

Stockton California is the only one that blows my mind because Stockton's not much now the only thing is though is where Stockton's at in relation to the Bay Area there's a lot of folks I used to live in Fresno.

Shelley:

:

I'm so sorry.

Edward:

:

Don't be jealous anyhow Fresno in Stockton are very similar type towns I think Stockton's little smaller but Stockton's up on the Northern Fresno's kind of like right smack in the middle of the state Stockton,

Edward:

:

is kind of a bedroom community for the Bay Area for the.

Shelley:

:

Maybe some of those people that can work from home now I'd rather get out of the big city and drop themselves in a smaller town.

Edward:

:

These people were commute from Stockton to San Francisco and we're talking an hour and a half to two hour commute I believe.

Shelley:

:

Yeah I would have thought anything that Ellie would have been on this list Beverly Hills area.

Edward:

:

Nothing in LA but again I.

Shelley:

:

New York anything in New York but Utah had three on the top 10.

Edward:

:

But when you think about it you also look at the quality of life you could probably take these cities overlay them on quality of life scores and they'd probably still be in the top 10 except for maybe Vegas because I don't think Vegas is got a great quality of life but God.

Shelley:

:

Go ahead well I was going to say that in part of the thing with like Utah is the mass Exodus there's a lot of people leaving California a lot of them are going to Utah and Texas and in comparison my thought is,

Shelley:

:

the house that they would have had to pay 1.2 million for they can buy and go oh my gosh it's listed for 500 let's offer six because,

Shelley:

:

that's still half the price they would have paid for it in the area they were originally from so maybe just be people who are like,

Shelley:

:

happy with her money going shoot my money can get me so much more here.

Edward:

:

By the way speaking of Joe Rogan I think like the top three are cities where he's or Utah in general he said some positive things about but Boise there's been a few times in Boise that he said,

Edward:

:

and I was the CIA guy that he used to interview anyhow he talked a lot about how much he loved Boise.

Shelley:

:

And I'm pretty sure I heard him talk once about how you know if you need to buy a house in Florida called Shelly.

Edward:

:

Yeah he did I'm sure he said that on the show.

Shelley:

:

I'm sure I heard that or not.

Edward:

:

He's just jealous because of our podcast numbers are so much better than his all right moving on to my favorite part of the entire show the local flavor.

Sound Pad:

:

Now it's time for the local flavor the best sips snacks and fun in town.

Edward:

:

So we've both been to this place separately you went recently I went a few years ago.

Shelley:

:

I just went yesterday.

Edward:

:

I know so you want to introduce this place since you went yesterday to Fancy Pants.

Shelley:

:

Sure Duval's fresh local seafood it was right down on right downtown on Main Street so I will let you because this is your favorite part I'll let you run away with it run away.

Edward:

:

Run away I will read this is from their about us page on their website offering the freshest local seafood in Sarasota Florida located at the heart of downtown,

Edward:

:

Duvall's fls is a staple in Sarasota Seafood Cuisine that's

Edward:

:

fls fresh local seafood we are an Eclectic Eatery with a passion for stunning food superb service find whining creative cocktails

Edward:

:

with a focus on freshness and a desire to support our local community we Source only the finest ingredients from Sarasota has local fishermen and farmers,

Edward:

:

our community has voted as Sarasota's best seafood restaurant best all-around restaurant best sandwich for our famous po-boy best lunch and best take out,

Edward:

:

we strive to make every guest proud and exceed their expectations every day.

Shelley:

:

Yeah I can agree with the is as you were reading the sentence that,

Shelley:

:

they've got great service and good food and all of that I totally agree I'd never been there before and then way this is an episode about lawyers went with our friend Joanne Koontz of Joe of quartz and Associates.

Edward:

:

It's very legal around here all of a.

Shelley:

:

Telling you and and I did I got their fish sandwich sammich it was freaking Divine they had this aioli on it that,

Shelley:

:

and,

Shelley:

:

I like french fries in this is sounds so ridiculous I'm really picky about French fries because most of the time they're just soggy greasy taters like they don't really do something with them their french fries were divine,

Shelley:

:

so there was that but yeah I got me that nice little fish sandwich yesterday.

Edward:

:

Well yeah because you weren't too far from Joanne's office consent Associates,

Edward:

:

near downtown Sarasota give Joann our team a call at 9:00 for 1225 2615 concerns say it's another fine attorney we know.

Shelley:

:

So what else you got on there oh.

Edward:

:

Well I want to share what I had now that God doesn't promoting Joanne's,

Edward:

:

did we mention that we do this world real podcast for your real estate business,

Edward:

:

to one chili.com did we mention that okay I mentioned that occasionally someone actually told me that recently they listen to an episode they're like had no idea why you guys do the podcast or anything I'm like,

Edward:

:

did you listen to the so I basically sucking promotions anyhow I,

Edward:

:

worked for our friend Carol Strickland who owns mermaid vodka for about 4 months.

Shelley:

:

Mermaid vodka really good gluten-free since it's all corn base.

Edward:

:

I'll corn base amazing stuff and I think it's mermaid vodka usa.com.

Shelley:

:

Why we are just plugging everybody today.

Edward:

:

Anyhow so I used to travel around downtown going from bar to bar working working.

Shelley:

:

Selling vodka not just not just looking for a bar stool.

Edward:

:

Selling vodka for our dear friend Carol for her awesome business and it is mermaid vodka usa.com get hooked anyway,

Edward:

:

while I was down there pitching the good good Folks at Duval's which I think they end up buying a case I can't remember it's been a while and,

Edward:

:

why was sampling I was enjoying some apps that was one of the best parts of that job besides promoting a fantastic brand going from place to place and towards the end of the day happy hour appetizers and some vodka it's a great way to end but the,

Edward:

:

my favorites they have Siesta Key calamari I love calamari anyhow.

Shelley:

:

Mmm I do too.

Edward:

:

This is spice-rubbed crispy fried cucumber banana peppers bell peppers pineapple ginger beer gastrique,

Edward:

:

it's so good it is ridiculously good the other one the appetizers I love them all all their apps are fantastic but my other favorite one,

Edward:

:

shaved steak spring rolls with something called Knuckleheads cause I have no idea but it's delicious die sweet onion roasted garlic cheese blend it is so freaking good.

Shelley:

:

Honestly I wanted to order those yesterday but both Joanne and I had time constraints so unlike halogens get our meal and go we don't have time to sit.

Edward:

:

Yeah we don't have dinner plans already tonight we should probably go to Duvall's.

Shelley:

:

Yeah no kidding will we mention to them we had time constraint so let me tell you man she's like okay I'll let the chef know so we can get it out quick and they got it out quick and it was good yummy yummy food.

Edward:

:

Nice excellent food fantastic Service Great Ambiance if you're looking out for a nice evening out with your significant other or just a new friend you're trying to impress,

Edward:

:

gasps stop by Duvall's visit Duval's at Duvall's fresh local seafood.com and they are located at 1435 Main Street in Sarasota Florida we will put that on.

Shelley:

:

The show notes I think that's it.

Edward:

:

Any other attorneys or getting lenders friends we want.

Shelley:

:

Who all did we give plugs to today Sean Joanne Carol.

Edward:

:

German vodka Joe.

Shelley:

:

Joe Rogan I mean his numbers are going to spike.

Edward:

:

With the exception of Joe Rogan because that's just he doesn't need our help,

Edward:

:

we will go ahead and do our base links in there for yesner Law and couldn't Associates and mermaid vodka will just do that in there because.

Shelley:

:

That's who we are it's what we do.

Edward:

:

We get those in links in there yeah we'll see.

Shelley:

:

Okay well on that note I guess it's time to say bye buddy.

Edward:

:

See ya pal now I got to find a change the outro so I got to find which one I'm going to play will do this one.

Sound Pad:

:

Thanks for listening to another riveting episode of selling Sarasota,

Sound Pad:

:

ready to hear more stop by iTunes and check out our other episodes while you're there leave a review,

Sound Pad:

:

Sound Pad: now for the disclaimer jelly panas is a licensed realtor with Century 21 beggins Enterprises in Sarasota Florida opinions suggestions implications were ridiculous comments made on the show do not necessarily reflect those of your broker or Century 21 at large though they are fun group of folks so you just never know.

Show artwork for Selling Sarasota

About the Podcast

Selling Sarasota
Welcome to Selling Sarasota Podcast! In every episode Shelley lays the smackdown on misinformation and delivers key insights into local real estate. Shelley Panas is a REALTORĀ® with Century 21 Beggins Enterprises in Sarasota, Florida.

About your hosts

Shelley Panas

Profile picture for Shelley Panas
Living in Paradise! After running a successful company in Colorado Springs I decided that although mountains are beautiful, it was time for beaches. I relocated to Florida and joined the highly successful team at CENTURY 21 Beggins Enterprises -- the #1 C21 in Florida! I love it here! There is always something new to experience. At the end of the day, it is so nice to hop on my bike and head to the beach. The feel of sand squishing between my toes, listening to the waves crash on the shore while watching the sun paint the sky beautiful shades of gold, red and purple as it set is the perfect way to end my day. So I ask, why just come visit when you can stay?

I believe there is something profound in owning a home. This is your personal place to dream big dreams, relax in comfort, and be with the ones you love. I became a REALTORĀ® to help people have a better life.

We started our podcast in 2018 after Ed spent most of 2017 developing ideas for launching a podcast, only he didn't like any of the show topics he was testing. To test his audio gear he started "interviewing" me about my work in real estate. Needless to say, these test recording sessions became very silly very quickly and that's we realized we had our show. Ed brings his technical expertise in web development and digital marketing to complement my skills and experience in real estate to the show.

Edward Panas

Profile picture for Edward Panas
I have been a huge fan of podcasts since before they were even called "podcasts"! I remember listening to talk radio shows as far back when I was a kid through my college years. My frustration was always with getting a good signal or catching my favorite shows when they aired. When "Internet radio" shows started in the early 90's I used to listen to streaming shows from college & public radio stations, but connection speeds were limited. When podcasting started in 2004 I knew this was going to be a significant change in audio entertainment. As my weekly listening time increased over the years my interest in starting my own show grew as well.

I started kicking around the idea of starting a podcast shortly after moving to Florida in 2014, so in 2017 I joined Florida Podcaster Association in Tampa and learned how I could start my own show. As Shelley mentions in her bio, my ideas all sucked. (She says it much nicer than this.) I either lost interest very quickly or the ideas were just plain bad. She agreed to work with me testing out my new gear and audio production skills talking about her work in real estate. We were having so much fun doing these practice recordings we realized that this was our show. After a few months of learning about audio production and working out our content plan, we launched Selling Sarasota Podcast at PodFest Multimedia Expo on February 9th, 2018!