Podcast

How to Spot Red Flags Before Buying a Home in 2025 With Fred Glick, René Pérez Jr. and Chris Gustavel Of Arrivva

Fred Glick, a Broker, Real Estate Realist, and Founder of Arrivva, holds a stellar track record with over $2 billion in residential transactions while grounded in a lifelong passion for real estate. René Pérez Jr. is an adept Broker and Pricing Savant, who specializes in strategic problem-solving and long-term growth. 

Join them in the We Fixed Real Estate podcast by Arrivva, where they share expertise and insights about the dynamic real estate landscape. Arrivva, a leading real estate and mortgage brokerage, caters to buyers, sellers, and mortgagees with love, integrity, and a transparent fee structure. Featured in the Wall Street Journal, Arrivva is transforming the real estate landscape, one happy client at a time.

Available_Black copy
Available_Black copy
partner-share-lg
partner-share-lg
Available_Black copy
Available_Black copy
partner-share-lg
 

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

  • Learn why conducting a sewer inspection is a must
  • Get expert insights on securing coverage in high-risk areas and understanding the California FAIR Plan
  • Know essential tips for navigating insurance policies, including working with an adjuster
  • Explore the current trend of property purchase cancellations and why cash offers can simplify the buying process
  • Get a glimpse of Seattle’s real estate market, highlighting how the city’s climate and low disaster risk shape home values
  • Find out why focusing on the land and customization potential is a smarter investment than chasing new construction
  • See how shifting remote work policies are impacting housing prices

In this episode with Fred Glick, René Pérez Jr. and Chris Gustavel

Thinking about buying a home in 2025? Let’s help you navigate this in today’s challenging market. 

Fred Glick, René Pérez Jr., and Chris Gustavel of Arrivva reveal the hidden pitfalls that could cost you thousands. From costly sewer surprises to wildfire insurance nightmares, they break down the biggest red flags every buyer needs to watch for. Plus, insider tips on why cash offers are winning, the hidden risks of new construction, and how remote work is reshaping home values. Whether you’re a first-time buyer or a seasoned investor, this is the episode you can’t afford to miss!

Resources mentioned in this episode

EPISODE TRANSCRIPT

[00:00:00] Drew Thomas Hendricks: You have arrived to We Fixed Real Estate.

Home of the Eagles flight song, not flight song, fight song.

[00:00:10] Fred Glick: You messed it up beautifully. It’s a beautiful thing.

[00:00:14] Drew Thomas Hendricks: We have Chris Gustavel and René Pérez also on the show today. Fred, it’s got his nice bird hat on and we are talking real estate, Fred. What’s top of mind for you today?

[00:00:28] Fred Glick: Go Birds.

That’s number one. Number two. I started with a new watermelon and this is really good. Just watermelon juice. Filtered water and lemon juice. No other junk and it’s great for hydration, 405 milligrams of electrolytes.

[00:00:47] Drew Thomas Hendricks: That’s great.

[00:00:48] Fred Glick: You’ll feel better. It’s good stuff.

[00:00:51] Drew Thomas Hendricks: Maybe these guys will actually send you a case.

The coconut people never did.

[00:00:55] Fred Glick: Exactly. You know, so we’ll send the link to this podcast to these guys, WTRMLN WTR Cold Pressed Watermelon Blend. Let’s see where this is from. I can’t reach it. It’s so tiny, but that’s made by the Caribe Juice Company of Charlottesville, Virginia.

[00:01:18] Drew Thomas Hendricks: Hopefully they’re not,

[00:01:19] Fred Glick: Well, nah, they’re in Virginia. They’re probably Washington Commander fan. And so they’re soaking today. Anyway, I can’t see where it’s from. So maybe they do it right here in the USA. Whereas the other thing came from Vietnam. Believe it or not. So, anywho.

Talking about hydration. So, as I said earlier, I’m in Philadelphia and there’s actually a reason I’m here. Last Saturday, a week ago, Saturday. I didn’t even remember, but anyway, I was in Los Angeles and I had been in the hospital Monday before because I was just coughing like crazy and I don’t live near the fires, but everything kind of filtered down to me and all the smoke.

And with all the things that were just horrible I mean, the whole thing was horrible, but asbestos and who knows what was in the air. Went to the hospital, got a thingy to spray in my mouth, they gave me a steroid, take a little cough syrup, and I was fine for a few days, but I went out on a Friday.

Even with the mask and I Friday night, I was just coughing like crazy. So I said, I’m out of here. So actually went to Seattle, did some stuff with Chris. We saw one of our buyers. A house that’s right on the water in, I’m gonna pronounce the wrong Burien. Burien.

[00:02:48] Chris Gustavel: That’s right. Burien. First time.

[00:02:50] Fred Glick: Burien.

There you go. I’m getting, I’m getting it in. Spelled differently and it’s not in my head yet. But this is a, an issue with this house was, and this is what we’re pushing every single buyer to do, and you should all do this, is a sewer video. Because we found like all kinds of crap and broken up stuff.

[00:03:12] Drew Thomas Hendricks: Literally?

[00:03:14] Fred Glick: Yeah, literally, literally. Sorry. Yeah. And we encourage everybody to get these sewer inspections. It’s not something that’s kind of normally done, but the fact is nobody knows what’s in that sewer, especially if you have a tree in front of the house that’s old and it’s roots and maybe climbing in there. You don’t know what the sewer system is coded with.

Is it plastic? Is it terracotta? You know, it’s just great to find these things out. So we found it was ugly and the seller is fixing it. But of course, they’re going through nightmares with approvals and all that kind of stuff. I wouldn’t get into it because everyone of these is different. So out I came to Philadelphia where my grandkids are here.

[00:04:04] Drew Thomas Hendricks: One more thing on sewer. One more thing on the sewer. I can definitely say that that is something I would absolutely do if I ever bought a house. Right after I bought my house 14 years ago, I had to replace the sewer line from the house to the street.

[00:04:15] Chris Gustavel: Really?

[00:04:16] Drew Thomas Hendricks: Very same reason. It was an old 1964 house terracotta tile, terracotta pipe, and it had to get it re reline.

And I would have liked to have known that before I moved in for 80, 000 dollars later.

[00:04:31] Fred Glick: Yeah. Well, and I want to emphasize everybody, even now, I mean, I’m going back tomorrow night, so I’ll be there Wednesday. So two days from now that we’re filming this on Monday, January 27th. So give you an idea. The air is still, even though it rained, the air is better, but you still don’t know what’s in the air.

Problem we’re going to have now is stuff’s going to wash away into maybe the water system. So, only going to drink bottled water for now. There’s ramifications for this other than the people who lost their homes and it’s been horrible. But mask up people and don’t try to exercise outside. It’s just, you just don’t know what’s going to go into your lungs.

And that’s, that’s a problem. So it might be 10 years from now that it affects you, but it’s just, it’s a mess, it’s absolute mess.

[00:05:29] Drew Thomas Hendricks: I read an interesting article about the, like we did have rain. We had a good amount last night. There is like, oh, good fire season’s over, but someone I read this article about a 1 hour burn a 10 hour burn and 100 hour burn.

And those are the different levels of. So 1 hour is all the dry grass and stuff. So this, these rains are going to basically fix that one hour grass. It’ll be wet for maybe two days and then it’ll be dry again. But this one rainstorm, the 10 hour burn is going to be like the scrub brush. This amount of rain isn’t going to do anything for adding water to the scrub brush, and it’s going to do absolutely nothing to the a hundred hour, which is the actual trees and the dryness of the trees, right?

[00:06:08] Fred Glick: And the land is still so hard. Where’s the water going? It’s just pounding and running off. That’s part of the problem. It’s not getting absorbed into the dirt. We need a month before it really goes down there. And I’m exaggerating probably, but yeah.

[00:06:26] Drew Thomas Hendricks: Oh, like the rain four days from now, it’s going to soak in a little bit more, but there won’t be rain four days from now.

Ideally there would be rain like consistently every three, four days. Groundwater.

[00:06:37] Fred Glick: The other thing, the other problem you’re going to have in these areas are, if you want to buy a property, is insurance. And we have one of our people is trying to buy a property in Arcadia, which is just just south of where the Altadena fire was. She only got 1 quote, and it ends up that quote was just an automated thing.

And she’s going through a FAIR Plan. And we’re just crossing our fingers that we’re able to get something done. So insurance is going to be a problem. And there’s a million articles out there about it. And just before, absolutely, before you put an offer in on anything in areas like this, even up in San Francisco, we have a, we have a issue up in Danville.

So anywhere, whenever there’s going to be trees or it’s going to be fires, you really got to check before you put an agreement in or make it your offer contingent upon getting insurance. I think most sellers understand that now. Also ask who the current insurer is and maybe you can take it over, but if it’s state farm or all state, forget it.

They’ve already pulled out. So

[00:07:52] Drew Thomas Hendricks: you mentioned FAIR Plan. I know people that listen to the show routinely have heard us talk about it before, but for someone that just tuned in to tell us what is FAIR Plan.

[00:08:02] Fred Glick: It’s the insurance of last resort and it’s run by the state of California. I don’t know where all the sources come from.

They may get some federal money to it, but it’s basically, “Hey, if you can’t get insured anywhere else, we’ll insure you.” And it’s just for very specific things like wildfires. It’s not for liability. You have to do a separate liability policy, but talk to a professional and who’s in the insurance business.

Let them go over the details of the individual house. If you’re buying in a condo, make sure that the association has their master policy important, – being canceled, – financing. It’s just a mess.

[00:08:53] Chris Gustavel: Is it just California? Is it just California that has Fair Plan?

[00:08:57] Fred Glick: I believe there’s other states that do.

[00:09:00] Chris Gustavel: Okay.

[00:09:00] Fred Glick: For 1, you know, Google it in your state. Again, talk to insurance broker and pretty much FAIR Plan is the same price no matter what broker you go to.

Because it’s all coming. You know, they’re just giving you the price. That’s the other thing. It’s horrible.

[00:09:18] Drew Thomas Hendricks: You were mentioning you’re in, you’re in, I cut you off and started talking about fires. What about you’re in Philadelphia right now?

[00:09:24] Fred Glick: Yes, I am where it is cold or it was very cold. It’s not as cold, but yeah, you know, I’m not a fan of the cold, but I bundled up well and basically stayed inside. So it’s not a big deal. Here I am.

And here, you know, I, I didn’t go to the game, but watching the faithful after the game polluting. I mean, there’s just thousands and thousands of people in the street right near city hall, just south of it. It’s called Broad Street. And it was just a sea of people. It looked like they had won the championship.

I mean, I can’t. I mean, it’s gonna be this. And of course, there was the kids climbing up poles, and there was a bunch of guys standing on a, I think it was a steakhouse or something where they were on the awning and half of them fell off. It’s so Philadelphia, but they’re up there chanting the Eagles chant and you know, drinking beer.

So it’s, it’s a Philly thing. That’s how I enjoy it. Yeah. Anyway.

[00:10:41] Drew Thomas Hendricks: René, how are you doing? I have not heard from you yet this episode. What’s top of mind for you?

[00:10:46] René Pérez Jr.: Yeah, well we certainly, I think I was looking for a graph that would showcase the the largest cancellations on record for purchases. I mean, as we talk about fires, as we talk about unknowns you know, we can’t verify what a property, you’re going to see a surge in that.

So for those looking into some of your houses in the last couple months. You see a lot of flaky buyers, right? So that’s, that’s the other problem. And that is why cash is king, right? I think and I, I know I’m kind of mixing in a lot of conversations here, but that is why when a person gets an offer and an offer is cash, you don’t have to deal with, you don’t have to deal with appraisals. You don’t have to deal with insurance.

A lot of wealthy people for whatever reason could care less about insuring their property, right? Because if you’re, it’s a scam. Which, you know, if you don’t, when you don’t need it, you don’t care for it and it’s overpriced. Problem is those who need it the most, you know, are kind of stuck with paying it every month. So it’s a little bit of both.

[00:11:59] Fred Glick: You know, you bring up something interesting. So there’s these statistics that everybody throws out. “Oh, all these properties in Pacific palisades. Oh, that was a 7 million dollar house.” But if you look at it, just to make up a number of 500 dollars a square foot, and it was a 2500 square foot house.

That’s the price of building it back the rest of the value, which is the majority of the value on any property in California is in the land value. So, you’re not insuring the land, you’re insuring the building. So, I guess these people are thinking, “Why should I pay, you know, 10, 000, 20, 000 a year when God forbid something happens and I can afford to pay a million dollars and build a new one.”

I think that’s more of their thought pattern.

[00:12:49] René Pérez Jr.: Yes, but that’s not entirely accurate because the insurance doesn’t just give you a payout based on the actual building. With them it’s, you know, and that’s why it’s really important to collect receipts of everything you own, and that’s why people who are prone to disasters, you should always have videos, pictures of everything you own, because what the insurance or insurers are going to want to have is a list of everything you own, right?

And the price of what it would cost to replace them. And the way that the, the insurers are going to release and typically release the funds is, “Oh, okay, you replace this product and it was this cost. Well, we can then give you an extra amount because it’s verifiable.” And they’ll give you an option.

It’s like when you, when you crash your vehicle, I think a lot a lot of people would have a little bit more insight into that. They might say, “Oh, your car is worth 10, 000.” You go and try to buy that car and find out like, “No, I can’t get that car for 10, 000.” then you can have an adjuster kind of change that that amount, right? So yes, it’s for the most part for the building, but obviously you’re more wealthy, you’re going to have more designer clothing. You’re going to have more computers. So it’s…

[00:14:10] Fred Glick: Yeah.

[00:14:11] René Pérez Jr.: Yes, it’s for the land, but it’s, there’s more to it. So…

[00:14:18] Fred Glick: Oh, without a doubt, but everybody likes to throw out that big number. “Oh, it’s a 12 million dollar property.” Yeah, but take out the land.

It’s a different story what you’re building back. So it doesn’t look as bad as a insurance payout, you know, that’s really my point. So don’t be swayed by the top line, know the details. But yeah, anyway, also another thing; insurance adjusters. These guys are the greatest. They know the game that the insurance company is going to play with.

So it’s I don’t know what they charge, but it normally it’s worth it. It’s totally worth it. And anybody else out there and when I said it, but I’ll, I’ll accentuate it, go and do a walkthrough video of your entire house, you know, from get in the door, see everything you have open cabinets, everything, and have a video of that.

And obviously, stored in the Cloud, so you’ll, you’ll be fine this way. “Hey, here it is.” And you can use that and that’ll help the adjuster.

[00:15:27] Drew Thomas Hendricks: Smart. I remember finding a bunch of pic, I was going through a box and I found a bunch of pictures that I took, I think, in 1998 of all the stuff I owned in my apartment for the very same reason. But, um.

[00:15:41] Fred Glick: You own any of it still?

[00:15:43] Drew Thomas Hendricks: No, but I was curious. It was like the time capsule, can’t believe I actually took a picture of that. Like every CD I had vinyl records. It was pretty funny.

[00:15:55] Chris Gustavel: Very cool. All right, Chris, what’s going on in Seattle? Really cold. Sick of it being cold. We’re not used to this.

[00:16:05] Fred Glick: What’s the temperature average?

Like forties.

[00:16:09] Chris Gustavel: No, like high thirties, low forties. Yeah. And it hasn’t rained in weeks. It’s weird. It’s not like Seattle.

[00:16:18] Drew Thomas Hendricks: Wow. That is cold.

[00:16:20] Chris Gustavel: Yeah. I feel.

[00:16:23] Drew Thomas Hendricks: Up in Washington?

[00:16:26] Chris Gustavel: I mean, I think it’s okay. I haven’t had that much. It seems like our clients are able to get it.

[00:16:34] Drew Thomas Hendricks: Mm-hmm .

[00:16:35] Chris Gustavel: Easily. I mean, we don’t have, the good thing about Washington, we don’t really have any natural disasters besides maybe an earthquake. Other than that, like no fires flood.

[00:16:45] Fred Glick: No rainstorms.

[00:16:46] Chris Gustavel: No hurricane. Yeah.

[00:16:47] Fred Glick: A month of rain and but everybody kind of prepares for the rain and water deviations. And…

[00:16:54] Chris Gustavel: We don’t have many, we don’t have many slides. Like when we have big rains, it’s very rare to have mudslides around here, so, yeah.

[00:17:00] Fred Glick: ‘Cause everybody’s prepared for it.

[00:17:01] Chris Gustavel: Yeah.

[00:17:02] Drew Thomas Hendricks: You think maybe like an eastern Washington, like in Tri-Cities area, you might get some fire issues.

[00:17:08] Chris Gustavel: Oh, yeah, over there where it’s dry and hot. Yeah.

[00:17:12] René Pérez Jr.: Well, in Washington, you see a lot of more mold that’s in your houses.

[00:17:17] Fred Glick: Yeah. It’s funny. A couple of inspectors out there tell me you don’t need to do termites because there aren’t any termites up there.

[00:17:25] Chris Gustavel: I’ve never heard of a termite up here, but I don’t

[00:17:28] Drew Thomas Hendricks: There isn’t termites in Washington? Wow.

[00:17:31] Fred Glick: I’m sure there are, but it’s not a –

[00:17:35] Drew Thomas Hendricks: Maybe not dry wood termites, but

[00:17:37] Chris Gustavel: Maybe they don’t like the cold, the wet, the damper system.

[00:17:40] Fred Glick: Right? Basically, it’s not just termites you’re checking for. It’s wood destroying insects.

And if you do an FHA or a VA, especially a VA loan. I think on FHA, you have to have a termite required. So, anybody wants details on that, talk to a home inspector. See what they say, get their opinion on it. Sewer, you definitely want, that’s for sure. We’ve said that before.

[00:18:08] Chris Gustavel: For sure.

[00:18:09] Fred Glick: And roof inspections probably more because roofs don’t last as long. California, we have roof inspection, but yeah, it’s just sign on. Not a lot of rain. Different story up there. Anyway, all real estate is local. Three most important things in real estate are location, location, location. We’ve said the obvious.

[00:18:33] Drew Thomas Hendricks: I would say one of the bigger issues in Seattle, and Chris, maybe you can confirm this or deny it is older homes that have like the really nice historic homes that have those really special windows and that all the woodworking, there’s a shortage of actual people that can service those windows.

[00:18:52] Chris Gustavel: Oh, I mean, I didn’t know that but that makes sense because there’s all those beautiful homes where you want to really keep that kind of detail.

[00:18:57] Drew Thomas Hendricks: You want to preserve it.

Yeah, and if you’re buying a house and you think you’re going to fix it up, you better check to see if there’s actually someone that has the skill level that can actually replace all that woodwork or replace those windows so you’re not just sticking new Milford windows in this.

[00:19:12] Chris Gustavel: Right.

[00:19:13] Drew Thomas Hendricks: That’s where it counts. So that’s, that’s, if anybody’s looking for a trade and I’ve talked to a friend who’s a woodworker up there, that is a trade that it will be in demand for a long time.

[00:19:25] Fred Glick: Until they perfect the 3d printing of them. So…

[00:19:29] Drew Thomas Hendricks: You can’t because you want to have the historical wood. It has to be all hand done. And our friends that are trying to redo their windows, there’s a two year wait list for this guy, for them to get their windows done correctly.

[00:19:41] Chris Gustavel: Oh, wow.

[00:19:42] Fred Glick: Wow. And it’s not easy to just take your existing windows and make them into double panes.

[00:19:49] Drew Thomas Hendricks: No, because then it wouldn’t look historically correct.

[00:19:51] Fred Glick: Exactly.

[00:19:53] Drew Thomas Hendricks: He would have destroyed your house value.

[00:19:55] Fred Glick: Pretty much. Yeah. Interesting.

[00:19:57] Drew Thomas Hendricks: I do see. And that might be in San Francisco too. A lot of those older homes, especially in the East Bay.

[00:20:04] Fred Glick: Oh, down in L. A., you know, you have the stuff from the 20s and the 30s, Spanish styles, there’s a bunch of, you know, really cool stuff, and yeah, you can’t, sometimes you can’t even, the shape of the window is weird, and you can’t, you can’t even buy a standard window replacement, so it has to be.

[00:20:23] Drew Thomas Hendricks: No, as far as we’re talking about insurance, like you’re, you have this, you’ve got this damage and you’ve got these historic windows with a historic home and the insurance company is just forcing you to go to like Milford or any of those other, like new, new window producers.

[00:20:38] Fred Glick: Which you get the, the insurance adjuster. That’s the insurance adjuster.

I, you know, and again, talk to your insurance person to find out the details of what’s in your policy, throw your policy into some kind of AI and ask it another idea.

[00:20:55] Drew Thomas Hendricks: Yeah. Yesterday ChatGPT, now it’s a DeepSeek is the new word that came out today or yesterday.

[00:21:02] Fred Glick: Yesterday. Yeah. I kind of log on to the app and

[00:21:06] René Pérez Jr.: So here’s what’s happening. Because of record usage, they locked it for in mainline, mainland China. So, but also if you’re in America, you should not be using a Chinese product where they sell your data. Come on now, but here’s how you can connect. What is it? What is it called again?

[00:21:31] Drew Thomas Hendricks: DeepSeek.

[00:21:32] René Pérez Jr.: DeepSeek, yeah, that’s how you can connect DeepSeek to real estate. What’s happening in the stock market now, and what happens with DeepSeek is when you purchase the newest house in the block. When

[00:21:45] Drew Thomas Hendricks: Oh, yes crashing right now.

[00:21:47] René Pérez Jr.: If things are great, yes, you buy the newest house, but when something, when someone finds out that the house next door is not really worth that much, then that new minted house that’s like ChatGPT is worth nothing. I mean, you see, I mean, Nvidia tumbling 20 percent today. Every stock is, I mean, there’s, it’s probably 1 trillion in losses as of this morning. So,

[00:22:15] Fred Glick: Or it’s also profit taking, yeah, there’s a reason for it, but yeah, they, the real people know what they’re doing are profit taking and then the rest are panicking.

There’s individual people.

[00:22:27] Drew Thomas Hendricks: But there’s, I mean, this story is still evolving and by time everybody listens to this on Friday, this will probably all be bullshit.

[00:22:33] Fred Glick: But when I read it earlier, some Swedish product.

[00:22:36] Drew Thomas Hendricks: Company that, so DeepSeek came out and said, we did this for 6 million and we didn’t use any Nvidia chips, but if you look back at the company that funded this DeepSeek, they bought the Nvidia chips years ago, so there’s a good chance that there’s smoke and mirrors going on. They actually did for a lot more and use Nvidia chips, which they shouldn’t be a lot, which they do the recent regulations. They shouldn’t have been allowed to buy, but they bought them before the regulations were in place.

[00:23:03] René Pérez Jr.: Yeah, but I do think that it’s still if you look at the, at least at what they’re releasing as a cost estimates, it is still cheaper to, to use it on ChatGPT, for example, so that just makes it so that, you know, the house that you’re, that you think is worth 5 million, when actually a better comparison is when cheap 3D printed homes come out, your 5 million house is not going to be worth 5 million houses.

You know, so that’s where you can make that connection. I mean, yeah, I mean, we’re going to see that it’s probably more expensive, but when there’s more competition, even like with EVs. Right? 10 years ago, you could not buy an electric vehicle for less than like 80, 000.

I think paid like 70, 000 for my Tesla. Now everyone and their mother can get, you know, two Tesla’s for 20, 000 dollars.

[00:23:59] Drew Thomas Hendricks: You get two for 20. Geez, we overpaid.

[00:24:02] René Pérez Jr.: Yeah, no, absolutely. Yeah, well you can get a 2022 Tesla. Yeah with like, you know, 70,000 miles for 20 grand.

[00:24:13] Drew Thomas Hendricks: Wow. So, good point. Don’t follow the shiny object syndrome. Yeah.

[00:24:20] Fred Glick: Or beware of it.

[00:24:21] René Pérez Jr.: Well, I mean, I, I’d say like when you, when you look at real estate, like, “Oh, what should I buy?” Don’t focus on like, “Oh, this is a remodel house.” Put in the work, you know, focus on buying the actual land and you fix it up later. You spend the money on getting it pretty because then you created the layout that you wanted.

I know that building is really difficult, but it is possible. And if the house is actually livable, even if it’s a outdated home, always buy that versus a new construction.

[00:24:51] Drew Thomas Hendricks: Yeah, because it’s, I mean, these, some of these established communities, that shiny object syndrome is not quite as prevalent as like the, you go to east, go out east where they’re building master plan communities or like near Aurora, Colorado, where one neighborhood is no different than another neighborhood, as soon as you definitely get that shiny object neighborhood syndrome there.

[00:25:13] René Pérez Jr.: And all these new constructions again, it’s going to be a really small lawn where the backyard is really small. So what happens when you have 50 of those in the market? I have a friend up in the, it’s North Carolina, and he put his house up for rent. And it’s like, “Oh, yeah, I can rent it because there’s a lot of work from home orders to go back to the office and there’s six houses for rent on the same block.” Well, and you know that also affects the rent as well. So, especially in those markets. Yeah, maybe it won’t affect San Francisco and Los Angeles as much as the more like investor friendly locations, but yeah, always focus on the actual full lot square footage.

Secondarily, even with me saying this, there’s been a bigger demand for new construction when the pandemic 1st started or when the pandemic shifted from everybody being scared to, hey, there’s not enough inventory. What we saw in new construction was a lot of builders would have a bidding day and let’s see that I’m representing you. We would go in and go to the model home and we would on the spot bid for the home.

Oh, it would be 1, 000, 000 going once, 1, 000, 000 going twice. Oh, 1, 050, 000. Right? So that’s how the bidding was. On Saturday, I actually went with the new construction here in Union City, who is doing that again.

They’re doing, they’re setting up a bid date for next week. And they said, yeah, we have at least 20 interested parties that wanted to make sure that they’re, they can get an offer. And so it’s, it’s tough because I, I would say don’t bid on this new construction stuff. So the backyard is so small and, and yeah, you don’t have to deal with any of the you know, maintenance for the next five, 10 years, but. It’s not, I don’t think it’s worth it.

[00:27:22] Drew Thomas Hendricks: He brought up an interesting point about the return to work. A lot of people move further afield when they had the remote work option because it was just cheaper land. Like here in Southern California, where I am, a lot of people moved out to Hemet, they moved out to Temecula because they didn’t have to drive into downtown San Diego to work every day.

But now a lot of those people are being forced to return. Have you started to see the housing prices in the fringe areas go down because of this, or is it a little too early and more of a, we think this is going to happen and this is happening?

[00:27:56] Fred Glick: I think most of those people rented temporarily. I mean, you know, property in Idaho is dropped because, you know, like, people have to move back to Amazon, you know, and there’s an article. I wasn’t, it was I think it was a newscast, local news that had a story about the fact that, “Hey, the traffic is hell.” And especially in the morning commute to get off to go to Amazon, it’s taken an hour what used to take 15 minutes, so, you know, we’re getting back to that stuff. But, you know, there’s more demand in Seattle because of it.

I mean, between Amazon, Microsoft, Boeing, I mean, they want you back in the office. And so, yeah.

[00:28:44] Drew Thomas Hendricks: Increase in commute or increase in traffic, or is it just always bad?

[00:28:50] Chris Gustavel: In Seattle?

[00:28:51] Drew Thomas Hendricks: Yeah.

[00:28:53] Chris Gustavel: I don’t commute at those times, like first thing in the morning so I couldn’t tell you, but traffic is bad. I mean, like in the evenings, but that article you’re talking about, Fred was the West Seattle bridge, which is people going over.

It’s like a small two lane thing that can get really congested. So I could see like, being over, being a community from West Seattle to Seattle would not be good.

[00:29:17] Fred Glick: Right, because, you know, all the people in Bellevue now have to get downtown. So, yeah, you want to live in the expensive place and now you got to take the commute in your used 20, 000 Tesla or something else.

But there’s two kinds of people with Tesla owners, ones that have the bumper stickers and ones that don’t. So there’s the, Hey, I bought it because before he became, you know, whatever he is now.

[00:29:48] Chris Gustavel: Oh, we’re not gonna start that. Are people are gonna do that now? Geez.

[00:29:52] Fred Glick: Yeah. No, they’re already doing it. They’re already,

[00:29:54] Drew Thomas Hendricks: Oh, I see a lot of those bumper stickers.

[00:29:56] Chris Gustavel: Yeah.

[00:29:57] Fred Glick: Yeah. I’m sure you’ve seen them.

Then on the TikTok, you see, ah, this, this guy Tesla’s cutting me off and they’re just. Whatever, kids.

[00:30:13] Drew Thomas Hendricks: He probably didn’t. It was the auto driving. I had it on the other day and my wife’s Tesla and it was kind of driving like an asshole. I wasn’t even touching it.

[00:30:23] Fred Glick: You had asshole mode turned on.

[00:30:26] Chris Gustavel: Maybe it has asshole mode.

[00:30:29] Fred Glick: It’s something that he probably has.

[00:30:31] Drew Thomas Hendricks: I’m like, I can’t believe you just passed that guy.

[00:30:36] Fred Glick: There we go. Here, check the Tesla updates to see if you can have normal mode and asshole mode. Maybe. Crazy. Crazy. Alright, is that enough aggravation for all of us?

[00:30:49] Drew Thomas Hendricks: I think it’s good. Unless you want to end by your own rendition of Fly Eagles Fly.

[00:30:55] Fred Glick: God no, my voice is terrible. But

[00:30:58] Drew Thomas Hendricks: You don’t have to tune in and listen to it.

[00:31:01] Fred Glick: 42 to 37. That’s my prediction for the final score. Take the over. Yeah. Okay. That’s what I’m thinking.

[00:31:12] Drew Thomas Hendricks: Chris, any predictions for you with you on this upcoming?

[00:31:16] Chris Gustavel: Just that I hope that the Eagles win. That’s all I gotta say.

[00:31:19] Drew Thomas Hendricks: I prefer the Eagles win.

[00:31:20] Chris Gustavel: Yeah. I don’t want the Chiefs to win .

[00:31:23] Fred Glick: We’re done with, they’re tired of the Chiefs.

[00:31:25] Chris Gustavel: Yeah, I’m over it. I’m sick of it.

[00:31:26] Fred Glick: Everybody’s over it. Yeah.

[00:31:29] Drew Thomas Hendricks: How about you, René? What, what’s your prediction?

[00:31:31] René Pérez Jr.: I think that I’m going to, I think they just legalize gambling in all 50 states. So. I’m going to try to see if I can

[00:31:40] Fred Glick: No, it’s not in California. Where, where’d you hear that?

[00:31:43] René Pérez Jr.: I think I’ll check. I’m going to check and then I’ll see where the odds are. And then I’ll put my money on whoever has the highest odds so far. How’s that?

[00:31:57] Fred Glick: All right. But he’s not, he’s not emotionally involved.

[00:32:02] Drew Thomas Hendricks: I’m emotionally involved, Fred, because you’re emotionally involved.

[00:32:05] Fred Glick: There you go. Fly, Eagles, fly.

[00:32:08] Drew Thomas Hendricks: Fly, Eagles, fly. But it’s the fight song, not the flight song.

[00:32:12] René Pérez Jr.: Yeah, she has Kansas City at 54 percent.

[00:32:19] Fred Glick: Yeah, but they got the Taylor Swift vote, so, you know. But she’s actually an Eagles fan, which will be really tough for her. We’ll see what happens. That’ll be interesting.

[00:32:30] Drew Thomas Hendricks: We’ll keep you posted here.

[00:32:32] Fred Glick: There you go. Probably not, but that’s okay.

[00:32:34] Drew Thomas Hendricks: Yeah.

[00:32:36] Fred Glick: All right. Give your awkward ending, Drew.

[00:32:38] Drew Thomas Hendricks: Yes. For anyone that’s still listening. And I’m pretty sure all you all are because it’s been riveting. This has been another episode of We Fixed Real Estate.

Posted in

Buying a Home? Get Cash Back.

Curious to see how much you could save? Our intuitive rebate calculator provides an estimate of the cash back you could receive when buying a property with Arrivva.