➡ The housing market is flooded with expensive homes, and many people are struggling to pay their bills. Insurance for these homes is becoming increasingly difficult to obtain, with some companies denying claims for damage. Additionally, people are being approved for large mortgages without down payments, which could lead to financial instability. Lastly, credit card perks and bonuses are at risk of being phased out, so it’s advised to use them as soon as possible.

➡ Hi, reach out to me at iallegedly.com. I’ll be back soon. Meanwhile, Rosie, my pet, is excited for her walk. See you soon.

Hey, it’s Dan. Welcome back. This is IAllegedly. And I’ve got a good one for you today because the problem with real estate is not going away. It’s only getting worse. And there’s a lot to cover because everything with the tariffs are affecting everything right now, including real estate. So please like the video, subscribe to the channel, and today we have a sponsor Delete Me, which I will talk about in a bit. But I have some wild stories to tell you about real estate. And the first one was sent to me for a couple.

And I don’t have their name, but the link is below in the story. And they were going to buy a house in the Cincinnati, Ohio area. Dream House. Do the inspections. Everything looks good. Everything’s going smooth on the transaction. They had been to the house prior to the close of escrow multiple times, four or five times, according to the story. And I met with the seller and the seller kept saying, hey, let’s move up the date. Let’s not wait. You guys are qualified. Everything’s good. Let’s get the transaction completed early.

You guys can take possession of the house. Sounds great. Sounds fine. Final day before escrow is going to close, they show up a couple hours before, and there’s somebody blocking the door. Come to find out the adult daughter who has mental problems had moved into the house and said, you can’t kick me out. I have a renter’s rights and this is my home. It’s my residence. Didn’t have a lease. Didn’t have anything. And the buyer’s like, what’s this? And they said, well, it’s our daughter. And she’s got some issues. We’ll get rid of her, you know, get her out of the house.

Yeah, we’ll work on that. So they get their attorney involved. And the attorney says, yeah, we’ve been trying to get her out for the past month. And she keeps breaking in the house and living there. So the seller during this entire time lied to these people and would schedule meetings when the woman wasn’t there and make sure that they had blocked the house off. Oh, you want to come in and, you know, take pictures and measure. Sure. What time they’d throw the girl out. And finally it, you know, enough was enough.

And the woman, her daughter ended up took possession of the house. These people canceled the escrow one hour, one hour before the house closed and got out of the house. Didn’t have to got their deposit back. Even got their inspection money back from the seller because they were worried about getting their brain suit out. This went really, really lucky for these people. You know, it’s funny. I had a house that I looked at and it was an incredible deal. This was 20 years ago. And the house was about 75, 80 grand cheaper than the neighborhood.

And I’m like, oh, this is great. Big lot, corner lot. And I couldn’t figure out why. And I call the realtor and I’m like, hey, I want to see the place that, um, how about two 15? No, no, no, no, no, two 15. That a good time. You know, how about a four 45? I’m like, four 45, four 45. Okay. I can do that. Show up, look at the house, four 45, a great house. Everything. Perfect. Oh my God. It’s great. So I did what I normally do, which is what I tell everybody to do.

And that is go to the house at different times, go to the house when it’s raining, go to the house, you know, on a school day, you know, everything night, weekends, everything I show up there and park my car. And I started making some sales calls and the train came by and the house was shaking from the train. That was just beyond the backyard. What the realtor did was scheduled the showing when there was a time when there would be no train. So inevitably this would have to be, you know, Hey, by the way, behind this house is the loudest train in the world.

You’d have to divulge that. But they showed the house and everybody was that saw it said, Oh my God, this is the most beautiful house. So there was that. I got very lucky with that because I didn’t buy the house. My friend, Dave and his wife went to a baseball game last night with me and we were talking and their son, Brett, nicest guy in the world, firefighter, great guy, just got married late last year. Brett went out and had to have a house last year, had to buy a house, had to buy a house.

And time and again, Brett would buy a house, put an offer down and somebody would come in behind them and make an offer. 15,000 over asked, 20,000 over asked crazy, crazy things for where they kept losing properties. And eventually Brett bought a house, which turned out to be a condo. Okay. And we’re just going to say in the upper LA area, okay, one of those suburbs won’t say the city. So anyways, Brett buys this place. Problem with it is it’s got underground parking. Brett’s got a huge truck, can’t park the car underneath the underground parking and starts getting tickets for a hundred dollars a day.

And as a firefighter, you don’t know your schedule. Oh, I’m going to work 12 hours a day. Oh, I need, I need you here, you know, another 24 hours. So it’s very inconvenient. He lived there five months. That’s it. They tried to sell the place and I’m like, God, this is going to be a flipping disaster. Nope. Get a buyer right away. They go out and find a house, house, house, house, not a condo and buy a house in another LA area, nicer area and go in there. Literally closed escrow. And this is like within the last two weeks, guys, closed escrow.

We’ll just say it was on a Tuesday on Wednesday. The buyer notifies them says, Hey, listen, I was buying this house. So my son could go to UCLA. He doesn’t want to go to school anymore. I need to cancel this deal. House had already closed escrow. Guys, money was paid. Everything was done. Lenders were signed off. Everything. One day, guys, one day, and Brett, Brett is the luckiest guy in the world that he got out of that deal. You guys heard of anything like this? I mean, there’s a lot more to talk about with real estate and the shenanigans of this, but you know, these people are two of the luckiest people.

Brett got all his money. Brett got rid of that place. Brett made a little bit of money on the, on the transaction, which is insane. The people that bought it are now selling it again and never set one foot in the place. Isn’t that wild? Let me know what you think about this so far. Let’s talk about our sponsor. Delete me. You know, one thing that’s out there that really harms all of us are data brokers. Data brokers compile all of our personal information from images of us, our email addresses, our phone number, our address, and they sell it online.

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Absolutely everything. One story I did last month that really got traction that was sent to me originally from Mike Adams was the story about the insane amount of listings that were happening and taking place in Washington DC area alone. Now this area has been expanded to have a bigger problem. It’s called the Mid-Atlantic area, and it includes Delaware, Maryland, New Jersey, Pennsylvania, Virginia, West Virginia, and the District of America. It includes that whole area right there. So that area has seen real estate listings just completely take off, and there are some some staggering stats, and you’ve got 6,000 houses available for sale right now.

You know, and it’s going up week after week after week. There’s hundreds of houses being listed for sale on the market, and this goes back to the number of people losing their jobs in Doge. It’s seriously, and I’m sure they’re lovely homes, but you have houses that are averaging $425,000 a piece, which is considered above average home, but there is just a tremendous amount of these houses that are available for sale at a record clip right now, and nowhere is it slowing down. The other thing that’s absolutely crazy about this right now is that same area has the highest default rate of middle-class people for their credit cards right now.

Huh, isn’t that interesting? So you’re not paying your bills, I guess, you know? So again, I hate to see people get laid off from anything, but this is wild that it is just taken off like this. Now, a few things that, you know, we’ve talked about was, you know, as I go out and I look for houses and I’m in that one neighborhood again in the hill and there was one house and I’m like, okay, it doesn’t have a lot of trees around it. Kind of nice. Let me call the insurance brokers.

I drive up to the house and do my thing where I look at the house on off hours and on Saturday and there’s no list, there’s no open house. It’s just me poking around the house and you’re starting to see, you can’t get insurance for the house, Dan. Can’t get insurance. Don’t get insurance. This is what I was told today. Okay, I won’t waste any time on this house. So wild, guys. It’s absolutely getting to the point that it’s getting worse and worse and worse with this insurance problem. California Fair Plan is the insurance company that’s here.

My brother David calls me this morning and says, hey, have you heard about the insurance problem in Florida? And denying certain claims and saying that the hurricane damage wasn’t that bad. He was at a party last night with a bunch of people and they had a tree fall down in their house, but they’re like, you know what? It’s really not that bad. Structurally, you live in my house with the roof collapsing. You know what? I’m not going to cover that. So hearing things like the house has to be more than 7% damage to be considered something that the insurance company would step in and pay for.

Okay, well, who’s doing that math? Now, here’s the other thing. Butte County, California, never been to it. Northern California had a wildfire. People are starting to file smoke claims. And Ricardo Lara, our insurance commissioner, is furious because the Fair Plan, not State Farm, not all state, you know, not progressive. It’s the state program is denying, ah, no, no, no, no, we’re not going to pay smoke claims. And they have to because the problem with this is that, and here’s from an environmental standpoint, is the smoke can be toxic. The damage that it can do to burn certain things can make that, you know, be even worse.

So, you know, we’re not going to pay smoke damage right now. No, no, no, no, no, no. Is that wild guys? It’s just, it’s getting worse and worse and worse. So why would you want to buy a house right now? Seriously, what’s, what’s the advantage to this right now? Somebody else’s problem? That’s all I can think of. So, you know, let me know what you think about this. It’s getting worse. You’re seeing houses stay on the market more. All those wild stories I started this video with, and the fact that people are entering escrow.

I have a friend of mine who him and his wife are trying to get an FHA loan and they got approved for a hundred percent mortgage. And I’m like, really? What’s that like? Well, it’s a hundred percent to 800 grand guys. Eight hundred thousand dollars. No down payment. Not wild. No down payment. Nothing. So sitting there looking at different things, looking at different situations, the sellers, how long it’s been on the market. How long did they own the house? You know, it’s nuts. Absolutely nuts. 800 grand without a down payment. Can you believe that? To finish the video, we have a mystery guest joining us this morning, the one and only Rosie.

Come here. Hi, sweetheart. How you doing? Oh, you’re looking so good, baby. I love your vest. So to finish this video, I brought Rosie out to the park, but a couple of things. You know, I am not saying that you can just cancel willy-nilly a real estate transaction at any time. That is not the case. You need to have an experienced real estate agent. And I really recommend that you have a real estate attorney that you know, that can handle that can look at the transaction to understand everything that’s going on. And these people were lucky that they got to get out of the contract.

So please talk to somebody before you do this. Oh, you can cancel any time because a lot of times you sign things and you’re going to lose your money and your earnest deposit and things like that. So a couple other things, you know, builders are talking about how, hey, you know, uh, this is going to make the cost of building homes go up exponentially, which we don’t even know that yet. Think about this. HVAC wiring, plumbing, fixtures, all these other things that are shipped in from out of the country could raise the price.

Read this article below, because it’s talking about how, oh, it’s going to add $100 a square foot to a house. It’s going to make the average house $300 a square foot to build down instead of $200. Okay. Come build me a house for $300 a square foot. That’s insane guys. It’s being in that’s cheap guys. So that’s nuts guys. If you can build stuff for that shape right now, but we don’t know the impact of this yet. We just had Jaguar and Land Rover say, hey, we’re not going to ship cars the United States until this gets resolved.

Go buy a Land Rover guys. Go buy $150,000 car. Okay. So cars are on the lot guys. Go buy those cars. Those are here. It has nothing to do with anything right now. So another thing, which is insult to injury is Rosie, get over here. Rosie, get in the park. Come here. Rosie over here. Rosie. Come on. You got to get her back in the park. You know the rules. Rosie, you can’t leave the gate. Come on. Stay at the park. Okay. I got water for you. You’re good. Let’s go. Go on the soccer field.

Now this is insult to injury and I’m going to finish this video with these last two things. First of all, think about this. You buy your house, you know, 30 years ago and you know, you’ve been paying your insurance and then the house burns down. Terrible, terrible situation. One thing that’s happening to people is because the house was taxed and built so long ago, the house is now worth much more. And these people are getting payouts that are hundreds of thousands, if not millions of dollars more than they paid for the house.

Good for them. Let’s get the house rebuilt. No, no, no, no, no, no. They’re having to pay taxes on this. That’s what they call a casualty gain. Isn’t that terrible? Awful. Final, final business related item I want to talk to you guys about is we are seeing credit cards, people that have miles, people that have bonuses tied to perks and things like that with their credit cards. You have got to use these right away. This is critical right now because what they want to do is they want to phase these out and I’m telling you in the small print of your Visa, MasterCard, whatever, they’re going to sit there and say, hey, you know, this has been eliminated.

There’s a thing called interchange fees with different states and it’s what they can charge to swipe your card. They want these regulated and by regulating them, you’re not going to be able to give you perks when you have a card that has all these miles and perks and, you know, if you spend so much money, you get this discount and that discount of free trips and things like that. Well, the merchant, you know, when I swipe credit cards, you pay more for that. You have a little bit higher fee for those cards.

I’m telling you guys this, it’s like the gift cards. When you have companies like JC Penney saying, yeah, you better, you better just pay cash and buy stuff in the stores and not online. They’re worried about shipping things. These credit cards and these debit cards and these different gift cards, use them right away, guys. I’m telling you this right now. These politicians have basically shot themselves in the foot by trying to save people money. It’s going to eliminate a lot of people from getting things. My daughter lives on her miles and has all, you know, fly certain airlines only because she gets major incentives from them.

This is going to go away, guys. So remember this, we don’t know what’s going to happen with the tariffs, but people are skittish right now when it comes to real estate. It really is. And you’re seeing, it really is a difficult time right now. So, you know, share your thoughts and all this stuff. Email me, hello at iallegedly.com. And I will see you guys very soon. Come on, sweetheart. Rosie, come on, let’s go, baby. She loves her fast. See you soon. [tr:trw].

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