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In This Episode

Hosts: Bob Frady & John Siegman

Property: 2177 Fairmont Ln, Naples, FL 34120

Topics: homebuyingtips homesafetytips mold propertylens hurricanerisks

Episode Summary

Think Florida real estate is all sunshine and beaches? Think again! This week on The Property of the week, Bob and John venture into hurricane country with Nick Lamparelli, Managing Partner of Insurance Nerds and a true catastrophe expert. Nick, who recently relocated to Naples, not only provides his expertise on the insurance landscape but also bravely puts his own home in the spotlight for a PropertyLens analysis. The crew dives deep into the aftermath of Hurricane Ian, uncovering hidden risks like lingering mold, the ever-present threat of sinkholes, and the shocking frequency of lightning strikes in the area. They also discuss the importance of proactive mitigation, thorough inspections, and understanding the limitations of insurance coverage in a region where natural disasters are a reality. Whether you're a homeowner, a prospective buyer, or an insurance professional in Florida or any other catastrophe-prone area, this episode is a must-listen.

Key Takeaways

✅ Florida homeowners face unique challenges, including hurricanes, flooding, mold, sinkholes, and lightning strikes.

✅ Regular inspections, proactive mitigation, and understanding your insurance coverage are crucial for protecting your property and investment.

✅ PropertyLens helps you make informed decisions

Resources

🔹 Insurance Nerds

🔹 FEMA Flood Maps

🔹 Zillow

🔹 Try it: Propertylens.com

🔹 Questions Contact us: support@propertylens.com

Transcript

[00:00:00] Bob Frady: Ladies and gentlemen, welcome to another week of Property of the Week, brought to you by PropertyLens. For those of you who don't know, I am Bob Frady, CEO and Co-founder of PropertyLens. With me,

[00:00:20] John Siegman: John Siegman, President and Co-founder of PropertyLens.

[00:00:24] Bob Frady: So John, this week we have a very special guest.

[00:00:27] Nick Lamparelli: More special than Curtis Goldsborough?

[00:00:30] Bob Frady: You know what? You have forgotten more about insurance underwriting. He's special for inspecting, you know, for insurance inspections. You're special for underwriting. Not that we're in the game, but you know, you, you bring an expertise that we really appreciate. By the way, everyone, that's Nick Lamparelli.

[00:00:48] He is the managing partner of Insurance Nerds. So welcome to the show, Nick Lamparelli.

[00:00:54] Nick Lamparelli: Thank you for having me.

[00:00:56] Bob Frady: Why don't you tell us a little bit about yourself?

[00:00:59] Nick Lamparelli: The man, the myth, the legend, that's, I think John said that at one point. They're almost 30 years in insurance. various backgrounds, started off selling auto and homeowners at a local corner agency.

[00:01:16] Worked my way up to larger auto and homeowners. I could, I could help you insure your Porsche one day, Bob. did small prop, small business, worked my way up to the middle market. Then I discovered catastrophe. Analytics. I've been doing catastrophe related stuff for the past 15 years. Started, co-founded a couple of MGAs, one successful exit, one not so successful exit.

[00:01:47] And a couple of summers ago, I took over as managing partner of insurance nerds and we've, which has been a predominantly a, content community site, turned 10 years old PropertyLens was the fine sponsor of the cake. at, InsureTechConnect. So, thank you, Bob for that. And, but pivoted the, pivoted the business model to more of a marketing agency.

[00:02:15] Not advertising. Marketing and product marketing. product strategy. Positioning. Communication. Thought leadership. So, essentially, if you have a B2B insurance product, we can help you get in front of the right audience. With the right messaging. And we can even help you with the product. We do, I tend to do that a lot.

[00:02:38] I tend to stick my nose where it doesn't belong and say, can we change the name of this PropertyLens thing? It doesn't make any sense. Yours is perfect.

[00:02:48] Bob Frady: So. Well, there you go. so, Nick, back when we met, I believe you were living in New Hampshire, and now you're in Florida, because as a cat loving person, You want to, you want to eat your own dog food. You want to live in it.

[00:03:05] Nick Lamparelli: That wasn't the reason why. Well, I think you should go with that. Mostly for family, mostly for family, and so I could play softball year round.

[00:03:12] Bob Frady: Oh, there you go. Well, John and I, listen, we share that affliction. We both live in catastrophe exposed areas. John more than me. And, and so yeah, we appreciate that.

[00:03:24] So, hey, Nick, here's what we do. We pick a property, preferably one that you know. and. For everyone at home, by the way, click the subscribe button if you're into that kind of thing, it makes us feel better about ourselves. Nick sent us an address, we've run it through our system, rather than walk through the whole thing, we'll just show you the results, we'll just get to the good part.

[00:03:44] So, let me share my screen here, 2177 Fairmont Lane, in beautiful Naples, Florida. So, it looks like it's four bedrooms, two bathrooms, built in 2007, about 2200 square feet. 0.17 acres lot, and it has been in a prior catastrophe.

[00:04:03] Nick Lamparelli: We survived Ian.

[00:04:05] Bob Frady: Yes. This is the first thing that we show to people. This is a little bit of a flag.

[00:04:11] We look, when we look at all of our data, especially our catastrophe data, we'll say, Does this place look like it might have been affected by that? With PropertyLens, what we do is you put in an address and we send out 30 workers across all different data sets, both internal and external. Some of which we rent, some of which we built.

[00:04:32] and put it all together, run it through a series of rules and a series of AI to clean it up and make it work and come up with what we call the lenses. So these are questions that you should ask depending upon where you are in the buying process. The first lens that we show is the BuyerLens, which are, Hey, I'm thinking about buying this house.

[00:04:53] What kind of questions should I ask to make sure I know what I'm getting into? And John, why don't you walk us through the BuyerLens?

[00:04:59] John Siegman: So the first thing is, Bob already sort of pointed out is the fact that, you know, we know that hurricanes have been in the hood, and that there was damage from this effect in the property.

[00:05:11] So, you know, first thing you're going to want to check for is what happened, you know, was there a claim filed? All of the good stuff associated with that event. Other wind events, not necessarily associated with that hurricane, but with convective storms typically. So, you get some, you get some pretty good, you know, blows down there in Florida.

[00:05:33] And, you know, those over 65 miles an hour have a tendency to damage properties, knock over trees, things like that. So again, things that, as a buyer, you would definitely want to ask about. One of the interesting things as far as data goes, we built our own termite maps, and Florida is definitely known for them.

[00:05:54] your termites like to tunnel, so it would be something to walk around the property, check the foundations, see if there are mud tunnels, but definitely have it inspected.

[00:06:04] Bob Frady: How are we doing so far?

[00:06:06] Nick Lamparelli: So far so good.

[00:06:07] Bob Frady: Any damage from the hurricane?

[00:06:10] Nick Lamparelli: No significant damage. The wind, the wind did blow water into the crawl space, which then leaked into the, on the ceiling.

[00:06:26] So there are stains in the ceiling, and there might be mold in the crawl space from the water that got in.

[00:06:35] Bob Frady: Okay. All right, John, continue.

[00:06:38] John Siegman: All right, cranking along. Roof looks like it's in great shape, about 18 years old, 57 years or so left, so it's gotta be a tile roof by default. We've gone out and taken a look at the three primary roofing materials, and know the estimated lifespan for every state in the union. Clearly events have an effect on the roof, but yours looks pretty good.

[00:07:07] Which is always a pleasant thing to know. High risk of experiencing lightning, Florida you might know, is known for lightning. So, if you are, you know, at the top of the hill, if there is a hill in Florida, you don't, you might want the rod. Otherwise, you know, a whole house suppression system is not the world's worst investment, and it would be something that we would inform a buyer to ask about.

[00:07:33] Bob Frady: Is there a lightning suppression system built into the house?

[00:07:37] Nick Lamparelli: I don't think so, Bob.

[00:07:38] Bob Frady: Okay. Has it been hit by lightning in the past?

[00:07:41] Nick Lamparelli: I don't think it's been hit by lightning, but John is correct. We get a lot of lightning. We get thunderstorms pretty much every day in the summer.. So there's lightning all around us.

[00:07:53] John Siegman: Surge is probably the bigger issue, particularly if you're in an area where you have above ground lines. Mold is omnipresent in places that are nice and warm and humid, and you already mentioned mold in the crawlspace. Sinkholes, Florida is not the only state that has sinkholes. Sinkholes actually affect about 32 states.

[00:08:14] Florida is just the most renowned for them. and you happen to be, you know, relatively close to an area that happens to have them. so something to be cautious about, given the age of the property. A water heater inspection would be a good thing to have done. Same for the furnace, you're right on the cusp, of needing to replace it.

[00:08:36] No solar panels, we definitely take a look for that, and estimate what your savings would be if you had them. And then, you know, no hydrants detected within a thousand feet of the property. So, that's what we can tell you, these are the things that, as a buyer, besides all the beautiful appliances and rooms and things like that, that you'd want to be asking the inspector for the seller about.

[00:09:01] Bob Frady: So for this property, has there been any shifting of the ground at all or anything that might indicate that a sinkhole is potentially forming?

[00:09:10] Nick Lamparelli: I had not even thought about it, Bob, until you brought it up. Thanks a lot. Now I need to, now I need to go look, I don't think so. Okay.

[00:09:21] Bob Frady: Okay. and then. The water heater age in the furnace age, have they been replaced since you've been there?

[00:09:32] Nick Lamparelli: They have not. No.

[00:09:33] Bob Frady: Okay. So a lot, a lot of times what happens in real estate is the current owner doesn't necessarily know. What the prior owner did to the property and when you get an inspection or when you get a disclosure from the seller, the big giant out in that is, I don't know. So a lot of times that's what people will say is, I don't know.

[00:09:57] So if you're a buyer, this is like, Hey, here's, here's the list of questions I want to ask. Make sure I asked these before. I choose to buy this home, or make an offer on this home. In the end, you'll be like, oh, don't worry about it, don't worry about it. Don't worry about it, because you're going to have to pay for it later.

[00:10:13] So then we say, all right, I love this house, despite, you know, whatever issues it may have, I want to make an offer on. And then you get an inspection, and we give this list, you print out this list to give to the inspector, and say, make sure you check all of these things out, before you finish the inspection.

[00:10:33] And that way, you as the buyer say, hey. You, inspector, you work for me, make sure you do this stuff. And it's things like, you know, check for termite damage. Have you had any termite issues at the place?

[00:10:46] Nick Lamparelli: No, the HOA and the property, we've had a really significant insect plan program in place so that we're constantly spraying around for, not just termites, all sorts of infestation, ants and other stuff. It is Florida, so there are a lot of bugs.

[00:11:09] Bob Frady: Oh, there's a lot of bugs. There's big giant bugs, and they're not pleasant to step on. No, they're not. Crunchy. It is, So this is the kind of thing where, okay, you've made the decision, now you just want to check and make sure that there isn't anything hiding.

[00:11:24] That A might want to make you renegotiate the price or B, give you some sort of calculus in your head. It's like, okay, I know I'm going to have to do this. I've talked to the inspector. Yeah, there's some issues we've got to handle when we go forward. So, you know, going in exactly what you're getting into.

[00:11:40] Nick Lamparelli: Yeah, Bob, I, I, I think for anyone that's in Florida, like what I've learned and what this would have helped. Especially like with properties that, you know, they have the Mediterranean tiles that's very popular here. and tiles are pretty resilient to wind. But they do crack and they do age with time.

[00:12:04] So the cracking and the other stuff ends up when the wind storms do come. Like I said, we got water that got blown in right through a crack, you know, a damaged tile. And so I would say that the roof itself appears to be fairly robust, resilient right now. But, these small issues pop up and if you're not doing the proper inspection, water did leak in.

[00:12:30] There could be a mold issue. You can't see it, right? So, it's something that I think, this report would have caught.

[00:12:39] Bob Frady: Okay. So then the last part is the insurance lens. Florida, as you know, has a coverage issue, people coming in, people going out and you were in a hurricane. So the first question is, are citizens insuring this property?

[00:12:58] John Siegman: Nope.

[00:12:59] Bob Frady: Okay. So that's good news.

[00:13:01] Nick Lamparelli: Yes. We are, the property itself is a good 10 miles from the coast. So, in Florida terms, that's considered inland.

[00:13:18] So we're considered inland. We're not coastal. Okay. So there you go. Even though we're a Tier 1 county, I don't think there's anyone in our HOA that has, has not been able to get traditional homeowner's insurance.

[00:13:31] Bob Frady: Now we get into the data. So, you've got the property data, which you'll see on a lot of different real estate sites.

[00:13:40] year built, all sorts of stuff, all sorts of fun stuff like that. You know, of course it doesn't have a basement, it has an attached garage. Electrical heat and cooling, primarily built of concrete and stucco. And it's in the Collier County School District. All basic real estate stuff. The most recent listing.

[00:13:57] was back in 2013 and the market value is about $435,000 on the property.

[00:14:07] And then here's the ownership changes. All the deed changes that have happened. We don't, the owner's on there. We have the data, but we don't put it on there. But there have been some deed changes. And it looks like a company may have bought this property, so it might be corporate owned rather than individually owned.

[00:14:28] Then the property tax data is a little bit spotty down there in terms of land versus improvement value. But there's the amount that the taxes are for this property over the last several years. Here's the pictures, as you can see, they staged this very lovely when they put it up and that's the last.

[00:14:51] Nick Lamparelli: I was, I was going to say, I don't recognize that.

[00:14:55] Bob Frady: Yeah, that's the, this is the last time it was listed on the MLS.

[00:14:58] Nick Lamparelli: Can I see the pictures with the cars? Yeah, there it is.

[00:15:03] Bob Frady: Is that your car? That's, I don't think those are your cars, are they?

[00:15:06] Nick Lamparelli: Those are not, those are not my cars.

[00:15:08] Bob Frady: We do have a Honda. So this is probably from the last time it was listed. Then we get into things like the roof condition.

[00:15:16] So what we do is triangulate a lot of data to try to figure out how old is this roof. What's the expected lifespan? What's the primary material? What's the roof condition? And what's the roof exposure?

[00:15:30] John Siegman: So as you can see, based upon when the house was built, 2007, the roof's 18 years old. Because it's tile, it's got a 70 year life, 5 year lifespan, so you've got 57 years left.

[00:15:43] We note that it is tile. And then based upon the area of the roof and how much materials are and labor, there's a range that we give for the replacement cost of that roof if you had to go out and get a new one. we always decide to show the top end, because if it comes in less than that, you'd be happy.

[00:16:05] but, you know, you're looking at about a $44,000 roof replacement. Down below, the grade and condition of the roof, it's an A. 4 point, you know, basically 4.0 on a 5 point scale. The risk exposure is a medium because you do have some winds, you on occasion get a hurricane that comes through, you do have a little bit of hail, things along those lines, all of which directly affect the condition of the roof.

[00:16:40] So, while your tile roof. you know, has a little bit more exposure. It's still a tile roof. It'll last a long time tile roof here in Southern California. Has no real exposure because we don't get hurricanes, we don't get hail, we don't get those associated things. As a person who's making a decision potentially on insuring this property, these are things that they would consider.

[00:17:06] Bob Frady: Next up, damaging events. So it looks like we've had six events since 2011, which is not that many. We looked at a property in Boulder, Colorado, last week that had 70 events. In that same time period, so that's a, that's a little, a little more,

[00:17:25] Nick Lamparelli: I feel better, Bob. Yeah. A little more gnarly. In the thinking of moving to Boulder to avoid damaging events. No.

[00:17:33] Bob Frady: Okay. So what, what it looks like here. And this explains some of the things at the top is the risk for this roof was more hail driven than it was hurricane driven. Now, not that something bad didn't happen, but it looks like that according to the data we get back from our governmental sources that this property was relatively unaffected by the hurricane.

[00:17:57] Now you did have that water intrusion, but in terms of the physical structure. It looked like the physical structure survived, just fine. But there has been some hail in the past, inch and a quarter hail, which is, you know, can do a number on your roof. So, that's what we show for this location.

[00:18:16] And you can actually go back in time and see what things look like across a variety of timelines. This imagery goes back to 2017. So you can start to see what it is that a roof has been doing over the course of a number of years. And of course, if there was a tarp on there and you'd be like, Hey, maybe this was being repaired or something like that.

[00:18:37] So you can, and these, these, these clouds are usually shortly after damage events, and we don't see anything particularly. onerous about this location. We don't see any permits for this location. We don't have homeowner history or property inspection data for this location. This is the electricity, estimated electricity cost for this location, as well as what you could save using solar.

[00:19:06] And Lee County Electric is your electric, electric provider. So if you need to get service, you just click this button. It'll bring you right to Lee County's site. If you want to get solar, it would recommend about a nine kilowatt system. It'd be eight years with federal incentives, assuming they're still in place, to, to repay that investment.

[00:19:27] And then if you want to get a solar quote, you can just click get solar. Your utility uses a lot of natural gas.That's in nuclear, the two big ones. in terms of risks, hurricane, lightning, pollution, sinkholes. A little bit of drought, a little bit of wind, and, yeah. That's the climate risk.

[00:19:58] And then here is the FEMA data for this area. You're not, you're 217 feet away from a FEMA flood zone, but you are not in a FEMA flood zone, which is always good.

[00:20:15] Here's weather data. You know, listen, it's South Florida, hurricane, storm surge, and, and, lightning are the big ones along with some sinkhole. All right.

[00:20:30] John Siegman: So, you know, we've talked about MOLA already and termites. The rest of it is perfectly fine. So, you know, the B for a nuclear reactor site, you're basically in the tertiary fallout zone.

[00:20:44] Radon, not a concern because you don't have a basement and also because it's a low score. And then, you know, the rest of it is all very, very clean. So. Not a lot of environmental risk here. from the things that aren't, you know, nature, so to speak nature, but in a different way, you know, really pretty safe from that standpoint.

[00:21:09] So at least you're not dealing with it. Radon and hurricanes. It's just hurricanes.

[00:21:14] Bob Frady: And no formerly clandestine drug labs nearby, which is always lovely. They can catch it. Great. I was just about to say, if you open up, you have no competition. So what we do. When we pull a report we send it out to one of our partners who use market information to try to figure out what the insurance premium would be for this location.

[00:21:40] And it looks like it's between $2,960 and $5,400 for insurance on this property, which is high given the value of the home. It's pretty spot on. It's something you should check out. You know, cause here's the thing. When you buy a house, the mortgage payment generally stays the same. It's the insurance and the taxes that keep going up every year.

[00:22:03] And so you can end up in a situation where even if your house is paid off, you can't afford to stay there anymore because everything else has gone up so much. And the replacement cost is about $461,000 which is a little bit more than the expected market value of the house. But the house hasn't been on the market for a long time, so you just really don't know what that market level is right now.

[00:22:27] Nick Lamparelli: Given what I've seen in market value, it's probably higher than that, but not, not tremendously so.

[00:22:35] Bob Frady: And then we give you a couple of options for insurance, if you want to get a quote to help solidify things. We don't have any claims for here, because currently we don't have claims for Florida in this system.

[00:22:48] And then crime data and featuring our newest variable, John, you want to cover this?

[00:22:55] John Siegman: Sure. So in looking at the crime, you know, a very safe neighborhood, very much to be expected. But the newest piece of information that we've added into the report is sex offenders. So, basically. Quarter mile, we're going to expand that actually to a half mile, because when you're buying a house, that can be a concern.

[00:23:21] So those are national sex registry offenders, and we've got them, so in your case, there's nothing to report, but if there were, we would actually list who they are, where they are, and what they did.

[00:23:33] Bob Frady: hydrant's a little bit of a ways away. I don't recall seeing a hydrant anywhere, so I don't even know where it is.

[00:23:42] The most important part of fire protection is a hydrant. So you have three stations within five miles, eight stations within ten miles. Nearest police and fire, nearest urgent care, and then finally the property timeline. So we list out everything by the order of the date that we have it. So you can take a look over time and see exactly what has been happening at this property.

[00:24:08] Now if people are doing work on it and there's permits, you'll see more, but this is a pretty good layout of what you can expect to see on a PropertyLens report. So, how did we do?

[00:24:25] Nick Lamparelli: really well. You have the FEMA piece up. That seems about right. I mean, they build the property so that the ground is elevated.

[00:24:35] so they try to get as many properties outside of flood zones. It does rain a lot though. Right, so in a hurricane precipitation can, you get a lot of island effect where water will accumulate around your property. Yep. but not, but not necessarily enter your property. I think, I think all in all you've kind of nailed it.

[00:24:57] Bob Frady: Is it a retention pond that's right around, like right around the corner of the house? Is it full all the time or is it only filled up when it rains?

[00:25:05] Nick Lamparelli: No, so Naples has a really sophisticated water management system. So all of the retaining ponds are connected to one another. So they use the retaining ponds as part of the city's municipal water management system. So they can move water in and out of these. So when a hurricane comes, they don't want to, they want to try to control where the surge and the flooding goes. So they have the ability to allow water to move from one place to the other. So, this is our dry season. So most of these retaining ponds are much lower.

[00:25:44] They do fill up. we had a. When Milton hit, last fall, the ponds were pretty full as well. And that was the thing I was worried about, not the wind. I was worried that the retaining ponds were already full and Milton would drop a whole bunch of water. on, on them and potentially water coming into the house was my biggest concern, not, not the wind.

[00:26:10] Bob Frady: Is there just a big hose that leads to the Everglades and you just throw all the extra water in there?

[00:26:17] Nick Lamparelli: Probably, I don't know. There's canals, there are canals everywhere controlling the water

[00:26:22] flow. Because if you could just build a pipe and send it right to California, we'd probably pay you to do that.

[00:26:29] Nick Lamparelli: Yeah. It's not, it's not clean, nice, clean water though. Lots of, insects and, bugs and stuff.

[00:26:38] Bob Frady: Might clog the pipes though. That'd be quite the rotor rooter to go from, Florida to, to California. Okay. So Nick, given the information that you've seen in this property, if you were looking to buy this property, what would be your top three concerns?

[00:26:59] Nick Lamparelli: Knowing the floor a little bit, always the roof, always, always. you know, what kind of condition is it in? When am I going to have to replace it? The other thing that you brought up that I think is important that I hadn't thought about was, like the water heater, or the furnace. cause when the, when the water heater goes, it spills water everywhere and you can have all kinds of damage associated with that.

[00:27:22] I hadn't even thought about that until I saw it. The report. So it's, I would say the condition of the roof, the ancillary stuff, would be, would be another, and I'm a kind of a nerd about this, so it's, it is like, what has happened in the past when John brought up Boulder, like, that would be something I would be highly interested in, like, what am I getting, I guess, what am I getting myself into, right?

[00:27:51] And it's not just about the ability to insure the property today. It's what am I getting myself into? Is this property going to be insurable a year, two years, three years from now? you know, you, you, we're hearing horror stories. You're going to get, you're going to experience this in California as well.

[00:28:12] where, you know, the insurance rates just keep going up and up and up and then you can't get coverage anymore. Right. And so now you're going to make that tough decision. Do we have to sell the property because we can't afford it because it's that and taxes just keep, keep going up. I don't think buyers spend enough time thinking about that, but I would.

[00:28:34] Bob Frady: All right. So, John, if you were buying 2177 Fairmont Lane in Naples, Florida, or if you were considering it, what are the top three things you would look for?

[00:28:46] John Siegman: Well, I think, you know, Lamps mentioned it. It's the age of the, you know, the, the structure and the, the things 20 years old, give or take, 17, whatever.

[00:29:00] so that's not bad, but that basically is coming up at the end of life for things like the air conditioning, the furnace, could be the second time that the water heater needs to be replaced. You're also looking at, and we didn't really touch on it, all of the indoor plumbing. So, you know, nobody replaces their valve stops, but.

[00:29:25] Those start going, and then you start having indoor water leaks. So now Lamps is not sleeping at all tonight.

[00:29:33] Nick Lamparelli: So that's, you know, Hey, great! Talk to those guys never again.

[00:29:39] John Siegman: The second thing I would think about is, you know, it's Florida, so you've got hurricanes and sinkholes, which I recognize as two things, but I'm throwing it in as one.

[00:29:49] And then, you know, we've already mentioned it, but the roof, even though the roof looks in great shape, it's been subjected to. You know, three hail events, tile, hail, you're probably going to get a crack or two. And, you know, overall a tile roof should last you a good long time. But, you know, if you start smacking it with inch and a quarter inch and a half hail, that's a roof that you're going to need to have somebody truly do a tight inspection on to look for cracks, make sure that all the cracks are sealed or the tiles are replaced to make sure that it stays because of the winds and the hurricanes.

[00:30:31] That actually stays waterproof.

[00:30:34] Nick Lamparelli: Yeah, John, I would, I would add, that this is something I just learned in the past two to three years. The roof does look strong, right? But every wind event that it faces weakens it. You don't see it, right? So you're, you're accelerating towards the roof failing right at, at some point.

[00:31:01] So, I think roof lifespans in Florida don't match up to probably like what, what, manufacturer warranties will, will say they could, they could last just because they're just constantly exposed to the stuff, including like, like significant UV and sunlight in the summertime. Like we are, we are low latitude.

[00:31:24] The sun is beating on these roofs, like for hours and hours with massive UV, massive heat, massive humidity. So, I think that's something that buyers should be extremely cognizant of. It has faced Irma, Ian, and Milton just in the last few years, right? So, is the roof as strong as it was 10 years ago?

[00:31:47] No way. It's gotta be, it's gotta be a lot weaker than that. How much weaker?

[00:31:54] Bob Frady: Well, if I were buying or considering buying 2177 Fairmont Lane in Naples, Florida, I would look for these three things. Number one is mold formation. South Florida is notorious for having mold issues. Given all the weather events, I'd look to see if there's any unusual staining.

[00:32:16] If there looks like there might be some water that isn't where it's supposed to be. So that's the number one thing I would look for. I would feel better knowing that you told me about the bug control because number two would be about the bugs. So you answered that question beautifully, but as you know, South Florida also has a lot of bugs and termites love to live in that area and I want to make sure the property hasn't been impacted by them.

[00:32:45] And the third thing that I would do, and of course you, you know, I understand you, I appreciate your, talking about the roof, but if I'm thinking about owning this house down the line, I really want to figure out a lightning suppression system for the house. Whether it's just a shut off at the, electrical box or whether it's something I can get from my utility, or whether it's a lightning, full lightning remediation system, I would want, if I'm going to live in that house for a long time, I'm going to want to spend the money to put something like that up because it's really just a matter of time until you get hit.

[00:33:19] And then you fry all of your electronics and it's a pain in the neck to replace it. So, I think those are the three things that I would think about when buying this house. But hey man, it's Naples. It's like heaven on earth. It's like, Nick Lamparelli lives there. Like, why wouldn't you want to live in Naples?

[00:33:37] Nick Lamparelli: And that's what they say, but you'll find out soon when you

[00:33:42] John Siegman: drive in, it's on the sign. Nick Lamparelli lives here, so should you. Yeah. It's part of their new marketing campaign, I believe.

[00:33:50] Nick Lamparelli: But Bob, Bob, what you'll, what you'll find out when you come to Naples is there's actually two kinds of, there's two parts of Naples.

[00:33:57] There's the Naples that everybody around the country talks about. And then there's everything outside of that. I'm outside of that. I even got a text message from someone saying, Hey, I heard all the insurance execs live in Naples. Where, where do they live? I'm like the mansions on the bay.

[00:34:15] That's Naples that everyone knows and loves. I'm just in like a community in Florida.

[00:34:20] Bob Frady: Yeah, but you know what? That's like Cap'n Dan on the shrimp boat, living that close to the water. It's like you're just trying to tough it out. You're just trying to ride the waves.T hank you for subjecting your property to such a thorough investigation.

[00:34:35] I hope that you found it worthwhile.

[00:34:38] Nick Lamparelli: I did. Thank you.

[00:34:39] Bob Frady: So if you were an insurance person, how would you use this data?

[00:34:45] Nick Lamparelli: If I were an insurance person, okay. So not a consumer, if I were an insurance person. So I think I'm going to put my insurance hat on Manchester city. And I would say, I would say the most ideal insurance professional who would get the most out of this is likely to be an agent or a broker.

[00:35:07] I mean, they should know this, like they should have a sense. Right. And, and I think most agents and brokers, even here in Florida, do not have a sense of the, both the catastrophic, but also just the traditional exposure, hazard exposure that these properties have. And so I don't think it's adequate for a broker or an agent here in Florida to just say, you know, Hey, we live in a hurricane zone.

[00:35:34] I think they should have, this gives them like documentation and also a formal. The ability to formally present something that places that broker agent as a trusted advisor in the, in that transaction. So they're not just an insurance transaction taker. You want, you want the, the property owner keep coming back to you for more information.

[00:35:55] That's what I would recommend.

[00:35:57] Bob Frady: And refer to your friends kind of a thing. Yeah. Because you're a trusted agent. Well, I thank you for your perspective on that. You know, we're a little far from insurance these days and it's always good to get a different perspective on things. So any, anything to add before we go?

[00:36:15] Nick Lamparelli: Anything to add? If Bob doesn't make it this week while he's here in Naples, it was an alligator, it wasn't me.

[00:36:27] Bob Frady: The alligator's name may be Nick or Lamps or Relly. and Thank you.

[00:36:35] Nick Lamparelli: It was the, it was the 24 foot python.

[00:36:37] Bob Frady: Yeah, it's like, oh wow, they're really big pythons these days.

[00:36:41] Nick Lamparelli: I will tell them, I will be taking, or I will be recommending to Bob that he goes to a particular rookery that has, this is mating season.

[00:36:52] So there's a lot of basking. Gators, you might see a python, and you might see a panther, so there's lots of things that could kill you.

[00:37:02] Bob Frady: Listen man, I've got me a gator, so it's now in the form of a purse in my wife's bedroom, but it, it, I've got me a gator, In boots. Louisiana style, so. gators don't scare me none because I run the other way.

[00:37:18] It's like, unless I'm, unless I've got a 22, I'm running the other way. All right. So for this week's episode of Property of the Week, I'm Bob Frady.

[00:37:28] John Siegman: I'm John Siegman.

[00:37:29] Bob Frady: And thank you to our special guest,

[00:37:31] Nick Lamparelli: Nick Lamps.

[00:37:32] Bob Frady: All right. So we'll see you next time on Property of the Week. Thanks a lot.

PropertyLens: Hidden Dangers Found! Florida Home Inspection (with Nick Lamparelli)

Know what you're buying