Crazy Sh*t In Real Estate with Leigh Brown - Episode #55 with Katy Caldwell

Natural disasters happen when you least expect it and having
insurance can alleviate an enormous amount of stress when it
comes to recovering what you’ve lost. Katy’s client never thought
he would ever need insurance and was concerned that he’d have to
accept a lowball offer on his flood-stricken house. In this
episode, Leigh welcomes Katy Caldwell who has been in real estate
for almost 11 years. She is an agent for Remax in the Baton Rouge
area of Louisiana.


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Time Stamped Show Notes: 

00:21 – Introduction for today’s episode

00:40 – Leigh introduces Katy

00:59 – Katy has been a realtor for 11 years and is from
Baton Rouge, Louisiana

01:09 – Katy does anything residential



02:13 – Katy shares her story starting with a big flood, in
2016

02:19 – 110K homes were affected and most of them did not
have flood insurance

02:50 – There was 30 inches of rain in 48 hours

03:00 – There are over a million people in the metro area
of Baton Rouge

03:43 – Some homeowners have never had flood insurance,
even if they live in a flood hazard area

04:07 – Some elderly owners dropped their insurance
because there had been no floods

04:23 – A 78-year old seller purchased the house with his
mom

04:40 – The seller never had insurance and got 3 feet of
water in his home

05:31 – Some volunteers helped him with the damage

05:42 – The house was gutted, but not treated for mold

05:58 – The seller continued to live in his house while
it was molding and he did not have an AC

06:30 – The seller’s friend made contact with Kate about
an investor

06:37 – The market had been flooded with investors
wanting to take advantage of these damaged homes

07:20 – The investor offered the elderly person $75K for
the house, but the seller declined

07:42 – Katy shares how much the house would have
normally cost in a normal market

09:48 – The seller decided that Katy would list the
house, instead

10:40 – The house was listed on December 22nd for $125K

11:48 – The seller did not believe the house could sell
for $125K

11:52 – There was multiple offers after a few days

12:17 – Katy went to the property with the buyer who had
memories of the house as a kid

12:53 – The day before closing, the seller still couldn’t
believe that the house was going to sell

13:22 – The seller asked Katy if they can take pictures
of the house and was getting very emotional about the sale

14:05 – Katy told the seller about the buyer to cheer him
up

14:36 – The seller was thinking that the buyer wouldn’t
actually show up on closing day

15:21 – On closing day, the buyer really bought the house



16:17 – Leigh was really surprised about the investors
flooding in

17:34 – Leigh shares how she feels about investors

18:13 – Real estate is not a game

18:27 – There are realtors who make assumptions about their
client

19:37 – Having flood insurance is a legislative issue now

19:51 – Realtors have been doing a lot of political work
about a flood insurance program

20:07 – For realtors, contact Leigh to find out about the
re-authorization of the flood insurance program

20:15 – For consumers, make sure to have a realtor who is
aware of what’s happening in the political arena and is fighting
for you

20:53 – Katy’s pet peeve

21:33 – For sellers, don’t be comfortable until everything’s
done

22:53 – Reach Katy through her phone at 225-241-4113 and
email at remax@gmail.com

23:09 – Katy’s website is com

23:59 – Tweet Leigh Brown for your very own crazy story in
real estate

3 Key Points Get a realtor who will not only protect you, but
all things regarding your house as well. As a realtor, be fair and
give an honest price for a property. Investors should not take
advantage of calamity-stricken areas. Credits

Audio Production by Chris Mottram

Show Notes provided by Mallard Creatives

Cover Design by Two Minds Design

Original Music by Rimsky Music