Bypassing Buyer’s Agents: Smart Move or Costly Mistake? With Fred Glick and René Pérez Jr. Of Arrivva

Here’s a glimpse of what you’ll learn: 

• Discover the critical issue surrounding inspection reports in Washington real estate
• Gain insights into the implications for both agents and clients in navigating commission structures
• Listen as Fred debunks the myth that buyers can easily represent themselves in real estate transactions
• Delve into the discussion on the need for federal oversight of real estate agents, drawing parallels to regulations in other financial sectors
• Learn about state-specific requirements for buyer broker contracts and efforts to standardize agreements nationwide
• Gain insights into shifts in housing inventory, with a focus on markets like Sacramento versus the Bay Area
• Discover the opportunity for first-generation, first-time home buyers with the California Dream for All Shared Appreciation Loan

In this episode with Fred Glick and René Pérez Jr.

Join Fred Glick and René Pérez Jr. in insightful discussions on the nuances of real estate transactions. 

From navigating Washington State’s home inspections to the complexities of bypassing buyer’s agents’ representation, they delve into the intricacies of the industry. Explore topics such as real estate agent compensation, federal oversight, market shifts, and initiatives like the California Dream for All Shared Appreciation Loan. Tune in for expert commentary, industry updates, and practical advice from two seasoned professionals.

EPISODE TRANSCRIPT

[00:00:00] Drew Thomas Hendricks: Welcome to We Fixed Real Estate. Fred, how’s it going today?

[00:00:03] Fred Glick: Just great. Just in this beautiful behind me. It’s Costa Rica, by the way.

[00:00:08] Drew Thomas Hendricks: It’s been a couple of days. Yeah, let’s I wish I was in Costa Rica right now. There you go. Kind of cold and windy here in San Diego.

[00:00:15] Fred Glick: L.A too.

[00:00:16] Drew Thomas Hendricks: You’re calling it René. Are you gold-mining it? Are you calling in from San Francisco?

[00:00:20] René Pérez Jr.: No, I’m actually in San Francisco. It’s not a fake background here. So

[00:00:26] Fred Glick: It is, but it isn’t.

[00:00:27] René Pérez Jr.: Yeah, exactly. But eventually these, all these backgrounds will be like video backgrounds and they’ll move. And

[00:00:35] Fred Glick: You can upload a video background. I saw that but like, it’s annoying.

Yeah, it’s annoying. We’re here to give you the information as opposed to let you see what’s going on in the background.

[00:00:47] Drew Thomas Hendricks: You don’t want to see what’s behind the curtain. So, René, last week you were here. Fred shared that you are going to become a budding Parker Schnabel and start mining for gold.

[00:00:57] René Pérez Jr.: Yeah, so I’m actually going to Columbia, not the country, unfortunately, but a place near Sonora. So it’s,

[00:01:05] Drew Thomas Hendricks: Oh, I thought you were going to Medellín to plan for gold.

[00:01:09] René Pérez Jr.: I know. Yeah, no, that’d be fun. So it’s like an hour and a half from Stockton, I think.

[00:01:15] Drew Thomas Hendricks: Oh, fun.

[00:01:17] René Pérez Jr.: So, yeah, when I, when I used to live in Sacramento, me and some friends used to go pan for gold in Auburn, about an hour north of Sacramento.

[00:01:25] Fred Glick: Do you get dressed up? Do you get dressed up like it’s 1849 or?

[00:01:31] René Pérez Jr.: No, I mean, you know, that makes you wish you were in California and in that era, right? Just going everywhere and collecting property and real estate and just finding nuggets of gold everywhere in every little corner.

[00:01:44] Fred Glick: Yeah, it wouldn’t be any bidding, situations with, you know, school district problems and the good old days.

[00:01:54] René Pérez Jr.: I would have 10 acres in Los Altos.

[00:01:57] Drew Thomas Hendricks: Oh, yeah. How, so I’m actually passing through Auburn in mid-May. But so tell me how, how do you go, so you go about this and what’s your expectations of finding this gold?

[00:02:09] René Pérez Jr.: Oh, I mean, your expectations should be like you disconnect, no internet. You have a bucket that you can fill with sand and also a backpack that you can fill with sandwiches and you’re just there to spend a good time.

Now you’re collecting sand and dirt from like under the crevices of between the rocks and sand from like the river Florence, right. So you’re collecting that sand. We have these magnets where you can actually clean up the dirt, get the, the magnetic sand off of it because it’s the heaviest material.

But, you know, you’re not going to collect a lot. I mean, I’ve, I’ve collected maybe 10. 10, 20 bucks worth of gold. Like if you took it to a enough to make a ring or, one of our friends who is ac was actually my old housemate. He’s a geologist. He does have enough to build a ring. So eventually, you know, when he finds a wifey, you know, he’ll give her that ring.

[00:03:04] Fred Glick: Aw, that’s sweet. That’s nice.

[00:03:06] Drew Thomas Hendricks: That’s awesome.

[00:03:07] Fred Glick: I mine this for you.

[00:03:08] René Pérez Jr.: Mm-Hmm. It takes, yeah, it takes a lot of gold panning to you would collect that much bud.

[00:03:15] Drew Thomas Hendricks: Well, maybe with the spring runoff and the big runoff last year, there might be some new, deposits unearthed.

[00:03:21] René Pérez Jr.: Yeah, yeah, it could be.

I mean, you won’t be collecting big nuggets, right? But if you go and you spend four hours, you definitely will collect some gold.

[00:03:29] Drew Thomas Hendricks: That’s awesome. Yeah. Well, you know, here are people mine for gold and real estate, and this is a real estate show. Yeah. Let’s talk about real estate. Yeah. Let’s talk about Washington.

[00:03:38] Fred Glick: Yeah. Okay, we have a situation in Washington today that this is a warning for people who are buyers. In the contract there are specificities about the inspections and how. You can give the entire inspection report to a seller, just portions of what you’re arguing about, or they don’t want to see anything.

It is a specific form. It’s a little check mark, or it should be initialed if it’s crossed out, but we abided by that for a deal that we have. But here’s the problem. The inspector who my buyer said, I want to use this inspector because he’s local and a friend of mine used him and blah, blah, blah, blah, blah.

He sent the inspection report, the entire inspection report to the listing agent. And guess what? That voided my ability to negotiate anything with the seller if the inspection clause was over, over and done. So our people were looking for close to 100, 000 in this property that was 30 years old and had tons of problems to maybe 40 years old.

This inspector is going to get sued for a lot. So just as a reminder, no matter what inspector you choose, tell them, remind them, do not send the inspection report to the listing agent. This is in the state of Washington, California, different story. There’s nothing about that in the contracts, but it’s kind of stupid because sellers need to know if there’s problems in a property and they need to disclose it to a future buyer. If this buyer doesn’t go through, this is a way of protecting the seller. Oh, I didn’t know because I didn’t get that inspection. I think it’s bogus and none, it’s not good for the consumer and but it happened and

[00:05:51] Drew Thomas Hendricks: Understanding why that you lost your negotiation ability because

[00:05:56] Fred Glick: Because said it specifically in the contract.

Do not send us the full report. So that voids the fact they sent the report that voids the inspection contingency. Hey, I’m still pushing and negotiating and I’m probably going to get a few bucks out of them because, you know, it was a 3rd party. I was not aware of the contract. We can make that argument, but it go on for years and, you know, we file what’s called a list pendants against the property and the seller can’t sell it. And the listing agent knows this. So there’s a little give and take, but still don’t put yourself in that position.

[00:06:32] Drew Thomas Hendricks: And if you’re an inspector, make sure you have your insurance up to snuff.

[00:06:37] Fred Glick: Yeah. And a lot of it.

[00:06:42] Drew Thomas Hendricks: Well, gosh, from one craziness to another. It’s been a crazy week.

[00:06:48] Fred Glick: Yes. Okay. You’re ready for this one? Cause I got to share my screen. I got to share my screen and show everybody this. We have a property listed in Venice that’s listed both for rental and for sale. We get a call from an agent and leaves a message somehow and says, I want to share your property for rent, but my people might want to buy it like, at least we’ll call it a lease purchase for easiness.

In the multiple listing service, we listed 0 commission for the rental and we listed 2 percent for the sale. And the seller’s kind of even handling the rental stuff. I just did it as an accommodation to put it in the MLS. So here’s what we get today. When asked, is the rental commission negotiable?

I said, hi, this is correct. There’s no commission for the rental, but if they buy, the seller will pay 2 percent of the completion of the sale. Her response was, “Okay, thank you. I most likely won’t bring them then if commission can be negotiated, please let me know. That are qualified people who are willing to pay 6 months upfront.”

And that that gives me a ding ding ding in my head that people want to pay 6 months upfront. Why? Are they drug dealers? They got to bury the cash? And I said, “Please let your client know that since you are not getting a commission, you are not willing to show them the house.” It’s like, huh? What?

[00:08:28] René Pérez Jr.: I mean, the qualifications of the, of the client or not, I think that’s not really,

[00:08:32] Drew Thomas Hendricks: Of course.

[00:08:33] René Pérez Jr.: I think the biggest, the biggest issue at hand here is the fact that it’s why these lawsuits exist.

This right here is just right now saying that she’s not willing to ask her buyers to pay her. And that is absurd. I think everybody should be able to tell their, their clients, Hey, like you’re going to have to pay me because this is what I’m worth. And, and all these agents always try to scream and say that they are worth a lot of money.

So example, exhibit A, if you’re worth a lot of money, why don’t you ask your clients to pay for the commissions versus saying, I’m not going to show a property. This is a clear example of how the commission lawsuits, you know, should be, you know, yeah.

[00:09:14] Fred Glick: This is why. I mean, it’s like, you wanted evidence.

Here’s evidence. She puts it in writing too.

[00:09:21] Drew Thomas Hendricks: Commission on a rental? Is that a rental?

[00:09:24] Fred Glick: Yeah, there’s some people who pay it, but it’s like, it’s not a big deal. Like the landlord does, we would do the rental contract because they don’t know anything about the details of the contract.

She’s not doing anything. Oh, I’m going to show them a house. Well, guess what? I’m having an open house this weekend. And, you know, if the buyer, if these people had any brains, they would just show up for the open house and without her. I don’t believe her.

[00:09:50] René Pérez Jr.: I mean, typically for so for rentals, it’s, the usual thing is the listing agent for the, for the lease, does get paid a commission to put in the MLS.

That’s, that’s what usually happens. And then there is sometimes a fee of maybe 500 or 1, 000. That is accommodating for the, the agent that comes and brings a client.

[00:10:12] Fred Glick: A few bucks. Thank you for bringing them. But, you know, everybody’s looking on the MLS. They don’t, they didn’t need her to find this property.

It’s not like it’s not on the MLS. And I mean, finding an apartment. I mean, it’s a pain in the ass. You got to look in 15 different places between Zillow apartments.com this .com. There’s no cohesive way to find an apartment. It’s crazy. But really lady, you know, she should say to him, look, give me partial commission now and when it sells, I’ll rebate back. You know, when I get the 2 percent or whatever to cover it, you know, it’s greed, greed, and stupidity put together. It’s just amazing.

[00:10:56] Drew Thomas Hendricks: I mean, it makes you wonder why you still need a buyer’s agent. Why can’t you just be your own buyer agent?

[00:11:02] Fred Glick: I’ll tell you why.

That’s a very good question. Here’s the problem. So you see a million dollar house walking to open house and yeah, just write up the contract myself. Well, where are you going to get the contract from? You’re not a licensed agent. You don’t have access to the California Association of Realtors forms, and you can’t just get a lawyer to just write up a regular contract that the listing agent can’t change that, can’t negotiate that because it’s not on the approved form.

They can’t be lawyers. So you have to have the forms. So, you know, and this is just about in every state. Texas, you can download the forms. Maybe try it that way, but you still have to know all kinds of different stuff. Do you know how many days it’s going to take to that you should put in for the deposit after the escrow is started?

Do you know how many days your lender is going to take and what’s going to be acceptable? Did you talk to the listing agent and all the other agents who have sold properties in the area to know what to bid? Do you have a fully underwritten pre-approved mortgage? There’s a million things that you need to know.

And, you know, that a buyer broker has an expertise to, but don’t pay them 2. 5 percent of the sale price. That’s insane. And our quick advertisement of, you know, 9750 is the buyer broker fee, and it’s a very fair price. And you’re getting extremely full service from two brokers. We don’t pawn you off to some agent that just got their license.

We operate on Slack, you know, you know what we’re doing. So to pat ourselves on the back. I was in a listening appointment the other day, and I went through everything we do and they’re saying, sellers are saying like, well, I don’t have any more questions and that’s a problem because it all makes too much sense.

I said, I’m sorry. That’s what it does. It makes too much sense.

[00:13:04] Drew Thomas Hendricks: So we can have for sale by owner, but you can’t have for purchase by buyer.

[00:13:14] René Pérez Jr.: Well, I mean, I think for sale by owner is also a mistake, right? Unless you’re a, an experienced owner that sells a lot of property. Right. Which by then you’re a de facto, you know, real estate agent broker, right? So the whole, the whole premise is that when an agent sees that you’re not experienced, they will, you know, take advantage of you.

They will lie to you. I mean, we’re dealing with the property right now in Sacramento, right? We submit an offer, about 30 cases on your list.

[00:13:46] Fred Glick: Is it sitting on the market, what, 45 days or something?

[00:13:50] René Pérez Jr.: It’s in the market for like 3, 4 weeks. Which it’s not a long time, right? It’s not there for months. So, sure, it’s fine.

But we submit an offer and this is the tale of always. You submit an offer and then all of a sudden a magical second offer appears. Right. So if a buyer directly goes into the, with that listing agent, you know, they will be lied to and say, “Oh, well we have another offer.”

And it’s, it’s more likely that a, a buyer will just not know better and just pay more just because they didn’t know, they didn’t have a representation of their own. Now on the on the listing side, you know, we would have been able to tell like if they had a better agent, we would have done the inspections ahead of time, we would have known what to fix, and we would have been transparent about what the market conditions would be, right?

If there’s a house next to you, that’s at 7. 50, you can’t expect 8. 50 and if you’re, if you’re selling, if you’re doing a for sale by owner, if you list at 8. 50, just because you want 8. 50, a good agent will tell you it’s not going to sell at 8. 50 because the house next door is at 7. 50. And that’s what happens with a lot of for sale by owners.

The reality is that a lot of for sale by owners eventually get an agent that just, you know, lies to them and tells them that they can get a huge price and they still, you know, end up getting an agent, even, even though they started as for sale by owner. So it’s not really about, you know, whether a, whether you’re selling or buying, it’s just having good representation of what matters.

[00:15:21] Drew Thomas Hendricks: So let’s see. I got a random note from Slack, CFPB. I have no idea what that means.

[00:15:30] Fred Glick: Very simple. The Consumer Financial Protection Bureau. Let’s mosey on back to 2010, right after the collapse of everything because of the option arms, the, I called them the wimpy loans. I’ll gladly pay you Tuesday for a hamburger today.

These 1 percent ridiculous pay rates. It was just, I can’t believe that Alan Greenspan and Ben Bernanke didn’t see how awful these products were and banned them. That’s who I blamed for all of 2008, by the way. Anyway, so what happened was loan officers got licensed federally. If you will work for a mortgage brokerage or a mortgage banking operation, you have to, and René and I have both done this.

We’ve taken a test. There’s eight hours of education. We got continuing it every year. We got fingerprinted background checked the whole nine yards. And by the way, bank employees don’t need to do this because the banks allegedly take care of it on their own, but they don’t do the testing and the training, but don’t get me started.

But anyway, the idea was, hey, we got to get this all under control. So we want to watch dogs, even though each state has its own licensing minutiae. The basic thing is a mortgage is a mortgage is a mortgage, and you learn about everything. So my solution to this problem with real estate agents is a national part of the CFPB to do exactly what they did with loan officers that they do with real estate agents, take tests.

Do continuing it that makes sense. Initial tests that make sense. A national, they have a national real estate test, but the CFPB needs to administrate it. Have a way for consumers to complain about agents. So here’s what happens today. If you’re a realtor, because I know I have a client going through this complaining about a listing agent who has screwed us royally, she has to put in something with the Department of Real Estate and then with the realtors.

And whatever you do and complain to the realtors, nothing ever becomes public. Let me repeat that. If you complain to the realtors about someone and even go through a whole situation and they slap ’em on the hand, you cannot release it publicly. So how is the public supposed to find out who the idiot agents are?

The state, unless you commit close to murder, doesn’t tell anybody they have this thing, you know, this guy stole 50, 000 dollars. We suspended his license and took it away or something. When they take it away, they just publish an email. They don’t put it on a website. They don’t make it super public, but the CFPB can keep an eye on everything because let me tell you, remind you about all this with this NAR settlement. The Department of Justice has not chimed in yet. So all these agents who are out there coming up with some bizarre way of still getting paid and they’re now pushing how you should get paid more, which is also absurd.

You know, now you just have the seller paid for closing costs. And so the buyer can afford to pay the agent or some crap like that. The justice department is hearing all this, seeing all this. So they’re just sitting back, tapping their finger, and waiting, and remember, this is just 1 lawsuit.

There’s another lawsuit with it now, the Federal Trade Commission is getting their little fingers into it. It ain’t over till it’s over as Yogi would say, and this is all going to come down, but I think some type of federal overseeing of these agents. Would be a, in a way to bitch about them and have everybody else find out about how incompetent they are would be a beautiful thing, but

[00:19:37] René Pérez Jr.: I think more tests isn’t a solution.

No. I mean, the thing is, it sounds nice, right? But we take all these, we take these year tests that are multiple choice, and you can just keep retaking them until you pass them. That doesn’t show that you’re a good agent. Tests don’t show that you’re a good agent.

[00:19:52] Fred Glick: Oh yeah, the continuing ed is bullshit. I had a, one year I had a continuing ed class in Pennsylvania, gave me three credits for feng shui.

Nice to learn it. Didn’t make you a better agent. How about teaching us, like, it was up to me that it would be live and you’d have to answer questions about the contract and you’d have to write a contract and show the department what addendums you had to the contract, you know, the real things, how you would negotiate a situation.

[00:20:24] Drew Thomas Hendricks: Same thing with law, you know, just because you pass the bar doesn’t mean you’re any good at being an attorney or could try a court case.

[00:20:34] René Pérez Jr.: It means you pass the bare minimum.

I mean, I don’t know. I’m sure the bar exam is much harder than them. You know, I would think I would hope, but I think that I think this is my concern is on, you know, testing, a test to show that you’re a good agent isn’t effective. I think maybe more auditing. I think maybe there should be a, someone on the other side, just calling agents.

And asking questions that are clear violation of fair housing laws, you know, and asking if the agent responds.

[00:21:12] Fred Glick: There are people, there are testers. Absolutely, they’re out there. Okay. HUD has testers, the state allegedly has testers, especially for rentals. Rentals more than sales. Yeah.

[00:21:24] Drew Thomas Hendricks: Well, is there a federal oversight board that I’m not where you’re saying you should have a federal something like FINRA with financial advisors or

[00:21:34] Fred Glick: Yeah, but the CFPB is already set up with mortgages.

It’s in the real estate business and it would be the best place to put it. It’s already an agency that exists. You don’t have to recreate one nor would go out of its mind and fight it tooth and nail. And that just tells you that they need to stand up for people who aren’t good.

[00:21:54] René Pérez Jr.: Yeah, I mean, it should be an easier way to complain.

I mean, there’s, if I want to complain about any real estate agent or anything, it’s a pain and I’m licensed, right? And I, I know where to look for and everything. It’s just really hard. There’s like, there’s like 10 steps and it should not.

[00:22:08] Fred Glick: Right. You gotta, it takes three hours to fill out the forms. Most people just don’t even bother.

[00:22:13] Drew Thomas Hendricks: I’m just giving a one-star Zillow review won’t quite do it.

[00:22:16] Fred Glick: No, that helps. Believe me. Hey, if there’s a listing agent out there that you know screwed you, you can go to their Zillow and Google pages and put a one star review. It’s not limited to because you, you dealt with them. Maybe through buyer broker, we’ve told our people that go. You know, we know this quack was a quacker and she lied to us and this, that, and the other, they’ll review her. People need to know.

[00:22:44] Drew Thomas Hendricks: Reputation management, but I do see federal oversight being not that we want more regulation, but we do need some oversight.

[00:22:51] Fred Glick: Yes, we do.

[00:22:52] Drew Thomas Hendricks: Man, that was kind of a podcast killer. What other interesting stuff’s going on this week?

[00:22:59] Fred Glick: Well, all this, just the NAR stuff, it’s just, I don’t know, it’s not even worth talking about.

[00:23:07] Drew Thomas Hendricks: So the Justice Department’s just kind of standing back, watching how everything’s settled? How long do you think this is going to take? Are we going to be having a podcast next November? Or December, and still talking about?

[00:23:19] Fred Glick: Allegedly, this stuff is supposed to go into effect July 1st or 90 days after the approval by the court or something like that. There’s a lot of details. I’ve heard a couple of different things. I don’t want to say, because I’m not 100 percent sure, but it’s just for the 1 NAR case. And what if you’re not a member of NAR like us?

What if you’re slimeballs who aren’t NAR members? You can still do all kinds of slimy things. Not yet. Like, in California, there’s no requirement that you sign a buyer broker contract. We absolutely require it because it’s just better. Everybody knows what everybody’s paying and our insurance company requires us to do.

So, state of Washington, though, you have to sign the buyer broker contract, and Pennsylvania, you have to have this other form before you discuss details of real estate that must be given to a buyer about who represents who, and it’s kind of a little bit off the track. And they have a buyer broker agreement, but it’s terrible.

And I refuse to use it because it locks people in. It’s exclusive. Texas, we rewrote the Texas buyer broker agreement, which was exclusive only, which is terrible. So every state’s going to have something eventually. My friend, Wendy from TikTok is she’s posturing a thing to go forward where she’s trying to get buyer broker agreements written for every single state, which should be awesome.

And I told her, I’m happy to help.

[00:24:51] Drew Thomas Hendricks: We need to have her as a guest on the podcast.

[00:24:53] Fred Glick: I’m trying. I already asked her.

[00:24:57] Drew Thomas Hendricks: We’ll get her at some point. You keep pushing that. It’s been a couple of weeks since we’ve talked about market sentiment. We’re, we’re recording this right now. First week in April, first part of a new quarter. First week of the month.

[00:25:09] Fred Glick: 4424.

[00:25:11] Drew Thomas Hendricks: 4424.

[00:25:13] René Pérez Jr.: Yeah. I mean, I mean, some markets are getting a lot of inventory. Like if you look at Sacramento. Right. Like if, if you’re in the Bay Area and you can’t find something, there’s a lot of stuff in Sacramento. I mean, of course, it’s all about location, location, location.

People want to be in the Bay. You don’t want to be in Sacramento but don’t dismiss other markets. Right. There’s, there’s not a lot of bidding, bidding wars in those, in those areas. And if you do have to go above lists, you’re going 50, 60K, not 300K. If you’re looking at markets like Danville. I mean, there’s people that, you know, are just waiting and seeing for one house to pop up in the area that you’re looking for.

There’s not a lot of inventory coming out in some markets, and that’s the problem.

[00:25:58] Fred Glick: But if you’re in San Francisco, you’re, I’m sorry, in Sacramento, good news for the next 3 years, 25, 26, and 27, you’re going to be able to have Major League Baseball. I don’t know if you guys heard about that, but the, yeah, but the A’s are going to relocate there for 3 years, and they’re going to be called the Oakland A’s of Sacramento, like the Anaheim Ducks of Los Angeles, or the Los Angeles Ducks of Anaheim, Los Angeles Angels of Anaheim, whatever that was. That’ll be interesting.

[00:26:29] Drew Thomas Hendricks: Because they’re building a new stadium in Oakland?

[00:26:30] Fred Glick: Well, no, they not. Well, no, Oakland won’t pay for it. And they, they are actually approved to move to Vegas, but they’re trying to buy some land there. And there’s all kinds of problems. He’s a business guy and he’s trying to make deals.

You know, and so, but then Oakland calls in. I mean, it’s a, I’ve seen, I’m sure prisons are nicer than policy. I mean, it’s, it’s dilapidated. It’s just awful. And I was there, God, maybe six or seven years ago since I’ve been there can only get worse.

[00:27:06] René Pérez Jr.: So where in Sacramento is the stadium? Are they using the

[00:27:12] Fred Glick: I forget the name of the stadium. Some corporate names. It seats like 10, 000 people. It’s where the San Francisco Giants minor league team plays now. So. I don’t know. Google it, kids, if you really want to know.

[00:27:29] Drew Thomas Hendricks: That’ll be a good, that’ll be a good test run for Sacramento. Yeah, support it.

[00:27:33] Fred Glick: You may like it so much and support it and move it from Vegas to Sac.

[00:27:38] René Pérez Jr.: Yeah, I mean, if you look at the, like, the hundred-year, like, benchmark of climate change, in 50 100 years, Sacramento should be like, near the coast, so.

[00:27:48] Drew Thomas Hendricks: Lakefront.

[00:27:50] René Pérez Jr.: It’s a good investment.

[00:27:51] Fred Glick: Hey, buy it up now for 800, 000 for a nice single family, be worth 3 million soon. Your kids’ kids will have it.

[00:28:01] Drew Thomas Hendricks: I do like downtown Sacramento.

[00:28:03] Fred Glick: No, it’s cute.

[00:28:04] Drew Thomas Hendricks: Not the old downtown. The newer downtown.

[00:28:08] Fred Glick: They got some great bike paths up there too. Yeah. That’s nice. Anyway, but 58 degrees here. So it’s not a biking day.

[00:28:19] Drew Thomas Hendricks: No, it’s cool here too. I just started. Well, so I’ve been out of the water for the last five months.

My, I broke my hand. I picked this week to get back in the water for the first time. The water just dropped from 63 to 57 and the weather just turned cold. I always pick the worst time to get it.

[00:28:38] Fred Glick: You got a number five wetsuit?

[00:28:40] Drew Thomas Hendricks: I got a four-three, but it’s pretty, it’s pretty chill. It’s been pretty chilly this week.

And for other surfing fans, this is real estate news. Kelly Slater is selling his house on the North shore. If you’ve got 20 million. You may be a house for you.

[00:28:56] Fred Glick: No problem. No problem. So, where are you surfing?

[00:29:01] Drew Thomas Hendricks: Oh, I was out at Oceanside just straight down from my house.

[00:29:04] René Pérez Jr.: Any good?

[00:29:05] Drew Thomas Hendricks: No, it’s horrible. I always pick the worst week to start again.

You really have to evaluate why you’re back out there. If it was good, it’d be too easy.

[00:29:15] Fred Glick: Yeah, exactly. Well, they got all the surf reports and, you know, the whole oceanography thing. I mean, you really got to know ocean changes and winds and weather to be a good surfer, right?

[00:29:29] Drew Thomas Hendricks: Yes, spring is not the time to learn, but it’s, it’s nice to, it’s nice to be back out there.

[00:29:35] Fred Glick: Oh, and the Costa Rica, it’s got nice rows. And they’re all the same size and it’s all steady and they’re long and it’s just a pleasure.

[00:29:44] Drew Thomas Hendricks: Yeah.

[00:29:44] Fred Glick: You know, there’s not big, big giant ways, but just, just enough to enjoy yourself.

[00:29:50] Drew Thomas Hendricks: Yeah. We’re looking at what Malpais right now behind you.

[00:29:53] Fred Glick: Malpais, which is near Santa Teresa, which is, you got to basically take a plane and then another plane and then get driven about 20 minutes to get to there.

So it’s, it’s a schlep as they would say, but worth it when you get there.

[00:30:07] Drew Thomas Hendricks: Oh, absolutely. I got to go back. It’s been about eight years or four years, four years since I’ve been there.

[00:30:14] Fred Glick: All right.

[00:30:16] Drew Thomas Hendricks: Let’s see. That was my last word. Kelly Slater selling his house. What do you got, Fred?

[00:30:21] Fred Glick: I got nothing else. I’ve been yakking all the whole time.

[00:30:23] Drew Thomas Hendricks: How about you, René?

[00:30:24] René Pérez Jr.: For me, a big reminder. Yesterday, the California Dream for All Shared Appreciation Loan opened up. So it is going to be open until April 29th. So if you are a first-generation, first-time home buyer, make sure to apply and get a, a fully underwritten pre-approval through there. The websites are all over and there’s a bunch of education requirements that you need to do.

That’s my last thing.

[00:30:55] Drew Thomas Hendricks: Yeah. We’ll be sure to get that out on social and make sure that people know about it. It’s a great opportunity.

[00:31:00] Fred Glick: Yeah. There you go.

[00:31:03] Drew Thomas Hendricks: Everyone, this has been another episode of We Fixed Real Estate and signing off.