tr"sange inheritance." thanks so much for watching, and remember -- you can't take it with you. >> i'm bob massi. for 32 years, i've been practicing law and living in las vegas. i help people with all sorts of real-estate problems, from trying to save their homes to closing major deals. 8 years ago, 6,000 people a month moved here looking for employment and affordable homes. little did anyone know that we would become ground zero for the american real-estate crisis. now, it's a different story. the american dream is back. but even today, i still get over 300 e-mails a week from people. they just want to know how to navigate the new landscape so they can live the american dream. we're gonna meet real people who face the same problems as millions across america, and we'll dive deep into a city on
the rebound, because las vegas was a microcosm of america, and now vegas is back. [ woman vocalizing ] 5.5 million people bought a home last year in america, and more than 2 million of them share one critical thing in common -- they have never done it before. so how do you take on something so huge if you've never done it before? well, we decided to tag along as a first-time homebuyer went shopping. this is gino. he's a pilot looking for a three-bedroom starter home near a major
airport. kathryn is his realtor. she'll be helping him every step of the way. representing the seller is geoff. kathryn's already shown him two homes. next up is a three-bedroom, 1,900 square-foot home in henderson, nevada. >> gino, the home we're gonna look at now is a home that was
built in 2000. it's right around the square footage that you were looking for -- three-bedroom, two-story home. i think you'll really like the backyard, as well, so should we go take a look inside? >> all right, let's go. >> great. ♪ >> come on in. >> thank you. >> the nice thing about this house, which is somewhat unusual, is we have a downstairs master, so it gives you the functionality of a one-story for ease of livability, but you have the use and space of a two-story. [ tires screeching ] >> hold on. back up a minute. before you even step foot in the house, there's some critical things you got to know. number one --
always really understand your finances. outside of getting married, well, buying a home -- it's the biggest commitment you're ever going to make. many first-time buyers calculate what their mortgage payment would be, but there's a lot more to just knowing what your mortgage payment's going to be. >> their taxes, their homeowners' association, their energy bill -- they need to be really comfortable with that
amount, and so a good agent will sit down with them and make sure that they fully understand all of the costs. >> that brings us to step two -- you got to get the right realtor, somebody that understands the area, exactly what your needs are. >> the biggest thing in buying a house is making sure that your agent's in it for you as the buyer and not for the deal. >> your realtor -- they're gonna be the guide. they're gonna take you through this entire process from beginning to end. >> how long have they been in business? that would be one of the questions i would ask. how many homes have they actually sold? >> the third thing to do before stepping inside any type of home is find the mortgage lender that you're gonna be able to work with. >> you want to make sure that your lender has their act together and really has you pre-approved, not pre-qualified. they've look at your bank statements, tax returns -- all your income and assets. >> otherwise, what happens? well, you find yourself that dream home, comes time to closing -- lender doesn't approve it, derails the entire deal. okay, now we're ready to go house shopping.
the important thing now is to know exactly what are your priorities. >> as a pilot, i'm gonna be gone a lot, so i'm looking for a safe area, an efficient area, some place close to the airport. >> this is a home you're gonna live in for a long time. make sure you find out certain things -- what's the crime rate in the area? have there been a lot of foreclosures? what's the history of the values in the area where you intend to buy? >> what are the h.o.a. monthly dues on this? >> the monthly dues on this are $25 a month, so really affordable. that's gonna be mostly a landscape association, so they're not gonna be super hard on you. >> this is critical. if there's a homeowners association, you need find out exactly what the monthly dues are, any assessments, the rules and regulations, and how they enforce them, because they are basically your government in the area where you live. >> so upstairs, we've got your loft that we talked about earlier, secondary bathroom here, which is a full bath -- tub/shower combo.
this bedroom, actually, is great 'cause it's got a huge closet. let's go down to the backyard, and i'll show you what we've got down there. >> excellent. >> so what do you think so far, gino? >> um, so far, so good, actually. it's got everything i'm looking for -- size, functionality. the only thing that i would, i guess, worry about, is stuff like the roofing. when's the last time it was done, or are we up-to-date on the water heater, the appliances? >> one of the things that we're gonna do, gino, is when we find the right house for you, we're gonna have the home professionally inspected by a licensed and bonded company. >> the home inspection is so critical to understand what you're buying. every home you buy is as-is, the good and the bad. >> i guess, we'll just work on financing and -- >> i'll let you two get back to the office for the offer. >> great. thank you so much, geoff, for showing us the home. >> it was great to meet you. >> i appreciate it. >> good to see both of you. how are you doing? >> good to see you. >> you know, i was wondering -- what's the like, maybe the four or five top things that you want to discuss with a first-time buyer of a home?
>> buying a home for the first time can sometimes be a bumpy ride. we want to make sure that the financing is in order, that they're comfortable with the financial commitment that they're making, also that the home suits their needs. >> how important is it for the homeowner to understand what we call the cc&rs -- the make-up of the homeowners association, if there's a management company? >> one of the advantages of what we call cc&rs is that it's gonna maintain and help you maintain your property value so that there's a continuity to the neighborhood. your next-door neighbor isn't gonna paint their house purple with pink spots. >> one of the things that i've seen happen over the years that becomes very controversial is the earnest money deposit, which is sort of the good faith money, gino, that you put down, saying, "i believe i want to buy this home," subject to the conditions of financing, and you're happy with the home. it's a common problem sometimes, though, isn't it, where the earnest money goes hard and they
can't get it back. >> you're absolutely right. as a broker, it's probably the most disputed item that i've seen in my career. also you have what's called a due diligence period, which is typically anywhere from 10 to 15 days. >> this is your time to make sure there's no hidden surprises waiting for you. all the more reason -- have that home inspection. >> if we decide to make an offer, we'll receive what's called a seller's real property disclosure report. it's gonna disclose any information as far as the condition of the home. >> unfortunately, you don't get to pick your seller, so the truth and the veracity and the integrity of that seller on that disclosure statement is as good as the person that discloses it. gino, thank you for your time. >> appreciate it. >> kathryn, you're the best. >> as always, a pleasure, bob. >> my pleasure. thank you. up next, i'll introduce you to dennis and judy. like many americans, well, they got into trouble when the economy took a nosedive. >> the values -- they turned completely upside down, and then
my son was unable to make the payments. >> he's very good about managing the money and everything, and i just could see his pain, you know? >> sure. >> it was not good. >> and then it even forced me to get a second job. >> in order to maintain the payments. >> i worked seven days a week for three years. >> but this is a story about perseverance and creativity just like america, and the light at the end of their tunnel just might be a lesson for all of us. [ woman vocalizing ] [vo] the grille is distinctive. but it's usually seen from the rear. the 2018 audi q5 is here. by listening to an thiaudiobook on audible.ame and this guy is just trying to get through the day. this guy feels like he can take on anything. this guy isn't sure he can take it anymore.
intelligent technology can help protect it. the 2018 audi q5 is here. ♪ >> welcome back. i'm bob massi, the property man. i'm gonna introduce you to dennis and judy. in 2006, they moved to las vegas with their adult son right before the real-estate market crashed. >> we all lived together, and then it was kind of crowded, so i said to judy, i says, "you know, there are condos that are for sale right now -- one bedrooms." we figured we were gonna put my son in that condo. >> vegas is still booming. i mean, everything -- the prices are -- you're paying premium. >> oh, yeah, definitely. >> no question about it.
>> definitely. >> so, you know, around 2008, 2009, things started getting bad. >> the values -- they turned completely upside down, and then my son was unable to make the payments. >> so at that point, then, you're making a condo payment, what you're living in, and you're making your son's condo payment. >> correct. >> right. >> so when the prices started bottoming out, did you start contacting the lenders yourself to see if they would help you out? >> well, they just didn't cooperate. >> now, i'm assuming that you had to turn over a lot of your financial information. >> oh, definitely. >> what type of things did they want? >> pay stubs, bank account statements, checking account statements, any investments we might have had. >> but when push came to shove, the banks were just not interested in doing much about loan modifications. >> one of the things that a lot of homeowners experienced in dealing with the banks and trying to work something out is a never-ending updating process. often the banks would ask for financials or your last two pay stubs or your most recent tax returns.
>> you are going through these call centers and getting a different representative every time you call in, and you're not getting anyone that has any knowledge about that particular file or about that client or borrower. >> and then, if nothing happened internally within their department in 30 days' time, they were again asking for the same information, and you had to provide it again. >> how did that make you feel, turning all that very proprietary, personal information over to give to a lender? >> violated. i felt violated. >> you were keeping current on your payments. >> oh, yeah. definitely, yeah. >> how important was keeping your credit good? >> oh, very important, because we've had it for so long good, we didn't want it to go bad, you know? i mean, you work so hard and so long for that, especially him. he's very good about managing the money and everything, and i just could see his pain, you know? >> sure. >> it was not good. >> and then it even forced me to get a second job. >> in order to maintain the payments.
>> i worked seven days a weeks for three years. >> these are people that had always made every single payment on time, never missed a bill, had perfect credit, had worked their whole lives to really do the right thing and to maintain that, and the banks basically said, "well, if you're still making your payments, we're really not gonna look at you." >> you're good citizens. you've always paid your bills. you had good credit. how did it make you feel as a relation to the lenders, particularly hearing on the news how they're getting billions of dollars of our tax dollars? >> that's what bothered me. that's what made me feel violated, because they were getting all this money and they weren't giving it out. they weren't helping anybody. >> weren't helping the american people. >> right. >> they turned to their mortgage broker for help. >> dan was a mortgage broker, and he worked with the frank napoli group. >> it was truly heartbreaking at times to sit across from someone who was in a situation where all they wanted was a piece of the american pie, you know? they wanted to own their home -- the american dream. they wanted to own a home. they went out, they found what they wanted, they signed up for a mortgage, they paid whatever
they had to pay for the house because the prices were so over-inflated at the time, and they worked so hard to try to keep their property, and it just got to a point where they just couldn't do it anymore. >> the decision was i want to short-sell the two condos. i can't do it anymore. >> short sale basically meant, by definition, that you owed "x" amount of dollars. >> correct. >> the value of the home was much less. >> right. >> and you're basically going to the lenders and you're saying, "i want to bring a buyer in to buy it for the present value." >> right. >> you tried to short-sell. any luck? >> at the beginning, no. it took a while because what happened was the institutions -- they were waiting for appraisals to come in, and they didn't like the appraisals they were getting, so they were sitting on it and not selling it. they just hung out for more. they wanted more, more, more. >> as they struggled to stay current on the two underwater condos, ironically, the huge drop in real-estate prices meant that they could afford to buy and live in a new home. you were able to qualify, though, working two jobs, retirement, i'm sure, from your job back east. >> correct.
>> even though you had these other condominiums. okay. so you get into this home. you're making all the payments. at some point, you then made a decision. it probably was very difficult for you. >> we took over this home, then it forced me to work even more because now i had to pay for this home and work with the other two condos, and i couldn't do it. i mean, i was getting older and i said to judy, "i can't do this. i'm not 30 years old anymore." >> yeah. >> i'm pushing 60. >> yeah. >> i can't do it. >> so they told the lenders that if the short sales wouldn't work, well, they could just have the underwater condos back. what you basically were in is what we called a few years ago, was a strategic foreclosure. >> mm-hmm. >> how did that make you feel? >> horrible. >> terrible, because i know incurred the debt. i'm not a person to say, "okay, i incurred the debt -- screw it. i'm not gonna pay it." i did feel bad. i really felt terrible. >> eventually, the bank agreed to short sales. >> we were just so far under
that we had to file a chapter 13 bankruptcy. >> which is basically what they call a wage earner's reorganization. >> correct, so we're paying the creditors back at full, less the interest. >> over a five-year period? >> mm-hmm, yeah. >> if there were no other options left, bankruptcy tended to be your hail mary to get you out of that debt, and not everybody -- it wasn't a great situation or a resolution for everyone. >> now, chapter 7 bankruptcy is a liquidation. all the debts are wiped out. chapter 13, on the other hand, is a method of paying your debts back over time. >> it's 100% paid back. what they're letting you go for is this interest, 'cause they freeze everything at that point and it's a full payback of what you owe. >> and it basically -- it made you feel better because you're responsible citizens. >> right, right. >> so why was a bankruptcy needed? because short sales could still leave money that is owed. even if the banks agree to write off the debt, which they don't
always do, the i.r.s. will then treat it as taxable income if it is not a primary residence. >> we're responsible for the difference of what the short sale is, and we couldn't -- >> you mean the deficiency of what was owed? >> and we wouldn't be able to pay that. the i.r.s. would come for the deficiency, and we couldn't pay that. >> so that's why we were told we had to put the condos into the bankruptcy. >> if you owed $100 on the condo, and it was worth $50, and you sold it for the $50, the difference -- the i.r.s. would send you a 1099 saying you have to pay income on that -- income tax on that. so that's what you threw into the chapter 13 bankruptcy. >> right. >> and so now, at this point in time, tell us about your present situation. >> the two condos are sold. we're in a home that we like. it still requires me to work two jobs to keep it up, you know? i have to keep it up. judy's working a lot of hours. >> yeah. >> but we're happy where we are, and it's what we had to do. >> well, we can see the light at the end of the tunnel. >> the short sales and bankruptcies allowed dennis and judy to get back on their feet.
now they are rebuilding their lives and paying off all of their debt. dennis and judy really thought out their strategy, and they used some really great real-estate professionals. and they did everything right. bankruptcies and short sales -- well, they're the last resort, and they're great options. and they can be very valuable. i have some great tips on how to do it right at... up next, we'll review what we learned today in the massi memo. [ woman vocalizing ] today we're going to talk about trucks. which of these truck brands do you think offers best in class hd horsepower and the most capable off-road midsize pickup? i'd go ram. i would put it on ford. let's find out. noooooooo. chevy. that's right, it's chevy. they look amazing. wow. chevy's killin it. yeah, definitely. trade up to this light duty silverado all star and get a
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so all you pay for is data. see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit, or go to xfinitymobile.com. ♪ >> welcome back. i'm bob massi, the property man. and it's time now for the massi memo. remember first-time homebuyer gino? well, he didn't end up buying that home, but he did decide to buy another one that kathryn showed him. you know, we covered a lot today from first-time homebuyers to
those struggling to pay the bills. the lesson -- you got to protect yourself, and how do you do it? do your homework. today, we met a couple who really struggled to pay their bills when things went bad. but guess what. they did their homework, and they successfully, actually, did a tricky bankruptcy and two short sales. remember this -- bankruptcy should only be used as your last resort, and i call it hitting the restart button. the most common is a chapter 7. simply put, your liabilities are discharged, and you can rebuild your life. it may not be the best way for you to go all the time, so listen -- get a competent bankruptcy attorney, and they will help you decide what's best for you. up next, the property man -- well, i'm heading down south to florida. we have some fascinating property stories and information from the sunshine state, so stick around and see this sneak peek. we're coming right back. [ woman vocalizing ] [vo] when it comes to investing,
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♪ >> welcome back. i'm bob massi, the property man. well, i've shown you vegas, and now the property man is heading to florida -- tampa, orlando, palm beach, miami, and many stops in between. here's a sneak peek at what's coming up in season 2. what if you could build the ideal community from scratch? well, it's happening right now on a massive scale. >> lake nona is 11 square miles of an integrated, highly collaborative community. >> they've got schools and hospitals and neighborhoods and universities and recreation.
>> with a foundation of technology running through it. >> an entire city built from the ground up with the goal of improving how we live, and it's working. i'll take you behind the gates of some of florida's most exclusive luxury homes... >> welcome to one of the most pristine and private lakes on the lake butler chain. >> ...where cameras have not been allowed until now. >> ordinarily, we don't allow cameras in here to film these magnificent homes, but you're in for a special treat. >> florida is one of the many states that just seems to constantly take a beating from mother nature. but i've got the ways to keep your family safe. >> these rooms are engineered for 250 mile-per-hour winds. if the whole house collapsed around it, it is an entity unto itself. >> legendary coach lou holtz and his wife -- lucky to be alive after their home burns to the ground. >> this happens every day. i've been doing this 35 years. this is a very common
occurrence. >> it's taken a month to don in the difficult task we had ahead of us. >> where do you even begin after such a devastating event? i'll tell you. america's changing, and that includes where people live and how they get around. >> a new generation of workers -- the millennial generation all want to be close to where they work and close to where they want to play, close to where they want to shop. >> transit-oriented development could reshape how you live, work, and play, and sooner than you might think. all that plus how to sell your timeshare, how to shop for a home, the best landscaping tips, and much more. i'm gonna sit down with regular americans and help them through the same problems faced by millions -- foreclosure, divorce issues, h.o.a. battles, and on and on. there is lots to cover when season 2 of "the property man" starts this december. be sure to send me your questions or property stories at...
and check out our website at... i'm bob massi. i'll see you next week. [ woman vocalizing ] >> i'm bob massi. for 34 years, i've been practicing law and living in las vegas, the center of the recent real-estate crisis. lives were destroyed from coast to coast as the economy tanked. now, well, it's a different story. the american dream is back, and nowhere is that more clear than the sunshine state of florida. so we headed from the strip to the beach to showyou how to live the american dream. i'm gonna meet real people who are facing serious problems, take you behind the gates of properties you have to see to believe, and give you the tips that everyone needs to navigate the new landscape, because information is power, and the property man has got you covered. [ woman vocalizing ]
thanks for joining us. i'm bob massi. a while back, i introduced you to david and jackie siegel, the billionaire couple building themselves the largest home in america. this project started 12 years ago, and construction is still going on. but now a personal tragedy has completely changed the focus of their lives and, of course, adjusted their priorities. in a few minutes, i'll take you inside the home, and we'll hear what their mission has become. but first, let's take a look at how they got there. david siegel -- well, he knows about construction. he built the time-share empire westgate resorts from scratch, starting with 16 villas in an orange grove outside of orlando and growing into the largest privately owned time-share company in the world. but in 2004, david and his wife, jackie, took on a completely different construction project, building a dream home that would end up being the largest in america. 12 years later, it is still
a work in progress. the 90,000-square-foot house was set to contain 13 bedrooms, 30 bathrooms, a bowling alley, indoor swimming pool -- guess what? -- a 20-car garage. the sprawling estate was about 60% completed when the economy crashed back in '08, almost taking all of westgate and all of siegel's fortunes with it. david and jackie were forced to stop all construction on versailles and eventually list a half-built mansion for sale with a price tag of $100 million. the entire ordeal became part of the documentary "the queen of versailles." but the economy improved, westgate resorts came back, and, again, the siegels bounced back, and in the end, the versailles estate -- it was never sold. construction -- it ramped up again. then last summer, tragedy struck. the siegels were faced with every parent's worst nightmare, the death of their child. 18-year-old victoria siegel
had graduated from high school with dreams of opening her own sushi restaurant, but she also had developed an addiction to prescription drugs. >> i didn't even know she was on drugs. that's how scary it was. >> last june, while jackie and david were out of town, victoria died of an overdose at the mansion that the family was living in while versailles is still being completed. >> we flew back immediately, and before i even buried her, i decided that i was going to spend the rest of my life doing something about this horrific problem -- drug addiction in this country -- and i didn't know what i could do to make a difference. >> the death of someone changes your whole life. i mean, losing my daughter, all my priorities have changed. >> the house is on the back burner. although it's under construction, we will finish it,
it's not a top priority right now. >> i don't even really care about versailles anymore, you know? i mean, it needs to get done. i'm not gonna leave it in a shell, but... >> the siegels instantly changed the focus of their lives. they launched the victoria's voice foundation, a charity aimed at raising awareness and supporting youth and families affected by substance abuse. >> we can't bring her back, but what we can do is try to just bring awareness, let people know the dangers of the drug overdoses. every four minutes, there's a drug overdose. >> david siegel -- well, he poured himself into the issue and began researching teenage drug addiction. even with running westgate and overseeing all the construction of the mansion, david says his number-one priority now is to help teens struggling with drug addiction. >> it is being brushed under the carpet. 350 people a day. that's like a jumbo jet liner
with 350 passengers crashing at the airport, and it goes unreported. there is a product out there. it's called naloxone. if a person who's overdosing is caught before they die, and you give them naloxone, 5 minutes later, they'll be standing on their feet telling you what they took. it's like antivenin for a snakebite. so my first goal is to get drug testing. my second goal is to get naloxone in the hands of everybody in the country. it should be as common as aspirin. >> he also wants to bring together the thousands of small family foundations people often set up after a loved one dies from an overdose. >> you see in the paper "in lieu of flowers, make a donation to mary jane's foundation." they raise a little bit of money. they have no guidebook. they have no game plan. so what happens? it disappears. there's a lot of things that
they could do. they could go talk to school assemblies and get on the stage and say, "i don't want your parents to have to be up here talking to you like i am today." they can go to their politicians and get certain local laws passed. i'm coping because there'll be a day -- i don't know when it will be -- that i'll know that i saved enough lives where i can actually say, "it's lucky for these people that my daughter died because all these people are gonna be living as a result." her legacy is gonna be that millions of people are gonna get help and stay alive because she died. >> through her grief, jackie's determined to keep moving forward and looks towards the future. >> versailles needs to get done, but i want to get more involved with helping save lives, helping people with their drug addiction. >> she's not been back to versailles since victoria died, but agreed to return for the first time to show me
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♪ >>david and jackie siegels project to build themselves the largest home in america has survived some major setbacks. jackie has not been back to the site since her daughter died, but has vowed to get the project on track and agreed to show us around. ♪ >> walking down this area here, it reminds me of being in one of those magnificent cathedrals, for example, that you'll see in different parts of the world, particularly in europe. >> yeah. >> and tell us about this great room. >> it's so big that you can actually put a four-story building in here, but that's how tall our ceilings are. what we plan on doing is having some spectacular charity events here. that's why i wanted a great room, and especially now that we have our victoria's voice foundation, we'll probably have a huge kickoff party... >> sure.
>> ...in memory of her. >> let's talk about this beautiful rotunda up here with this stained glass. >> this glass, it's by an artist named bogenrief, him and his son. it took him a few years to piece it together, and it was over half a million dollars. >> what i want to do is do a mirror image of that window on the floor, and i want to use, like, real semiprecious gemstones. ♪ so, jackie, you know, when you look at the situation, people will say "why?" this is how many square feet? >> this home is 90,000 square feet, but we're probably gonna add like a guest house and a tennis club. >> 90,000 square feet, 30 bathrooms -- >> yeah, over 14 bedrooms. >> over 14 bedrooms, 9 kitchens -- and that includes a commercial kitchen. >> right. >> multiple dining areas. >> yes. >> bowling alleys and everything else -- what is the motivation behind this? >> we didn't plan on building the largest home in america, but by the time -- like, i wanted a health spa, david
wanted a movie theater, we added another movie theater, then he wanted bowling alleys, and then... >> it just sort of -- just morphed. >> in order to fit all that in. ♪ >> how much property does this sit on? >> this sits on 10 acres. i think it takes up a whole acre just for the house. if you go into a walmart -- you know how big walmart is. >> i do. >> it's the same square footage as a walmart. >> that's big. ♪ now we're entering the master-bedroom area. >> you have to take a tour just to get through the master bedroom. >> i'm picking up what you're putting down on that. i understand. we're having a living room in the master bedroom, along with a kitchen. >> right. >> you don't want to have to go downstairs. >> we won't have to go too far for a cup of hot milk in the middle of the night. this i think you would call the bedroom chamber. the bed is gonna be on a motor that you can turn the bed, push a button, and you could face the fireplace, watch tv, or it can shift around, and you can have the beautiful view of
the lake. >> it's full service. it's full service. [ both laugh ] >> by the way, every bedroom in this house has a jacuzzi, even our servants'. >> we are now walking into your closet. do you have, like, any idea at all how many square feet this area is alone that's part of your closet? >> well, i know it's larger than most people's homes. >> yes. >> probably 1,500 square feet at least, maybe 2,000? >> yeah, it's big. and i'm seeing something over there that looks like it's two doors with gold, and it looks like it opens, which means it's probably an elevator. >> oh, you're good. >> it's amazing. well, you know, i'm the property man. [ both laugh ] do you ever, like, pull in here one day and say, "why -- why do i need all this for?" >> you know, actually, the house isn't, like, as important to me anymore as it used to be. >> of course. >> you know, since we lost our daughter...
>> understood. >> ...we kind of put it like on the back burner, but the thing is, since we've already started it, it would be a shame to not finish it at all. >> of course. was there ever a point where you said like, "enough is enough here"? 'cause now you're telling me you're expanding your closet, and... >> it was kind of a long process. so it's not that shock, you know what i mean? >> it's shocking, jackie, no matter what. it's shocking, okay? >> funny. >> it's hard to believe you want to leave the house, okay? >> we'll never have to. >> no. i'm talking about just to come out here. >> oh, okay. >> but when you come out here, and you have this beautiful view. >> i think we have like 1,500 feet on the lake. >> and then this is gonna be the pool area here? >> one of our six pools. >> six pools? >> inside the house, we have an indoor swimming pool, and then i wanted to put an ice-skating rink down on the bottom of the house, but just dealing with the zamboni and all that just seemed -- >> oh, you don't want all that aggravation. you got six pools. what do you need all that aggravation? >> so i put a roller rink instead. >> oh, so you rent out the roller skates? are they free? >> i'll give them away for free. >> i'm sure by the next time i talk to you, there's gonna be
some other things you're gonna add on... >> yeah. >> ...and change. and david will never know until it's finished, right? >> or until he watches your show. >> that's exactly right. >> [ chuckles ] >> coming up next... you may have heard of safe rooms, but you probably think it's not something you need or a luxury item you can't afford. you'll be surprised to hear what we've learned. so stick around. [ woman vocalizing ]
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>> welcome back. i'm bob massi, the property man. you know, the jodie foster movie "panic room" introduced many people to the concept of safe rooms. >> you have your own ventilation system and a bank of surveillance monitors that covers nearly every corner of the house. >> what's to keep someone from prying open the door? >> steel. very thick steel. >> but safe rooms aren't just to
protect you from movie villains. they can keep your family safe from any type of danger -- tornado, hurricanes, intruders. and they could be a lot less elaborate and more affordable than you think. carl ludecke and his daughter, kristin beall young, build custom homes at charlie johnson's builder in central florida, and they offer an optional safe room built into every house. >> there are a lot of reasons that people would build a safe room, whether it be tornados, hurricanes, fire. here in central florida, of course, we have seen the devastation that comes with tornados, with hurricanes, and so many people in this area know families that have been impacted, people that have been killed, that have been hurt. >> but once the rooms are built, you'd never know. >> normally, it's integrated into either a bathroom that doesn't have windows, an interior bathroom, or most of the time it's actually a closet. once it's completed, it's drywalled and painted, et cetera, you would really
never know that it was a safe room. >> and just like everything else in custom home building, they could be as simple or as elaborate as you want. >> there's a variety of doors that will come with these houses. it just depends on how much you want to spend. you could get a steel door in a frame where, when you turn the lock, it's just like a bank vault door. >> the nice thing is that a safe room can be used for a lot of different reasons, whether it be an intruder, a place to store valuables, a place to go during storms. >> here's the important thing. they got to be strong. >> people are killed because those trees fall on them in their homes. so this room is a place that could withstand that tree falling on the house. >> in fact, they could withstand a lot more than that. safe rooms are tested to ensure that they can stand up to pretty much anything you can imagine. these safe rooms were built with bullet-resistant panels made by armorcore, and as you can see, they're virtually
indestructible. [ gunshot ] the weather channel put one safe room to the test by blasting it with a jet engine. >> these rooms are engineered for 250-mile-per-hour winds. every cell of the concrete block is reinforced with rebar, and that rebar goes from a separate footer system all the way up the walls, across the top of the ceiling, and then back down, and it's all tied together. if the whole house collapsed around it, the trusses fell in, the walls fell in, it is an entity unto itself with a separate footer system, a separate ceiling. >> and stronger materials can make a huge difference. think a cinder-block house is secure enough? the insurance institute for business and home safety test structures made both with common materials and stronger, reinforced materials. >> they actually build houses in a facility in the carolinas, and they wind-test them, and
you can see them coming apart. we have a safe room that is integrated into the master closet, and it's accessible from the master bath. we've got poured cells that are reinforced with steel running in every cell all the way around the room. it can withstand a lot higher wind load than, let's say, the rest of the house. >> those plans are for a home with a safe room that they are currently building with cynthia and her family. >> a safe room would be like a safe haven for us, you know. just in case we have to evacuate, i won't have to go out. >> the safe room has just been poured. none of the interior walls are in yet, but it gives you a good idea of how it's structured and where it's placed inside the home. let's go take a look. the safe room has got a 12x12 opening in the ceiling there. you also notice all these downpours. each one of these cells has been filled with concrete. so that concrete runs all the way up, along with the steel -- all the way up and all the way over the top of the ceiling here in
the safe room. you can see we've got the cross vents that have been poured in place. we've got two 4-inch vents so that if their a.c. is, for any reason, knocked out during a storm, you do have the ability to breathe in the room. that's pretty important. and then, of course, you'll see that we've got the door here. this is a steel door that's been poured in place, and it's been built into the concrete safe room. inside this room, once it's completed, there'll be a landline, there'll potentially be an alarm system so you can see if someone is in the house, where they're moving around. you can also do that. it can also have a separate breaker so that you have the ability to run a generator outside. >> the rooms give peace of mind to residents like bernice, who had hers built into the bathroom. >> we have horrible hurricanes, tornados, and that one thing about it, i love that security. >> yet inside her house, you'd never know that the safe room was there. >> the first little sign that
it's a safe room is, of course, the width of this threshold. it's much thicker than your traditional 2x4 wall, and, of course, this steel door, which is much stronger than a traditional interior house door. >> the door has to open in, because if the whole house collapses around you, and if the door opens out, you're not gonna get out. >> so all the safe room doors open in. and we've also got a few features here like the telephone outlet and, of course, the fresh-air vents to make sure that there is airflow in and out of the room in case there is no power during a storm. >> some simple additions to a regular bathroom that could make all the difference when it counts. >> a safe room is something that isn't really expensive and can really give you peace of mind. >> there's more you need to know about staying safe in a disaster, and i'll run it all down for you next in the massi memo. [ woman vocalizing ] today we're going to talk about trucks.
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>> welcome back. i'm bob massi, the property man, and it's time now for the massi memo. we just learned about safe rooms, but if this is something you're looking into, you must pay attention to some key points whether you have a safe room or not. there are some things you need to knowbeforean emergency strikes. if you purchase a safe room independent of your house, make sure you have a reputable manufacturer that meets all the necessary fema requirements.
find out if the builder is certified by the national storm shelter association. if you are building or renovating your property, visit disastersafety.org and check out the fortified home standards. very important. ask your builder to meet these engineering and building standards. they can really reduce the amount of damage inflicted on your home by natural disasters, and most are not too expensive. it's all about preparation and design. make sure you itemize your essential needs. no last-minute drills. this is about safety. depending upon how many adults are in the home, make sure each of you have designated responsibility in case of an emergency. nothing last-minute. that's when people get hurt. safety is the key. do not use hazardous or flammable goods like candles. it's dangerous. as always, there is more information on our website at foxnews.com/propertyman. that's it for today.
be sure to send me your questions or property stories at email@example.com. i'm bob massi. i'll see you next week. [ woman vocalizing ] john bolton. good night from new york. >> from fox business headquarters in new york city the new "wall street week." maria: welcome to "wall street week," the program that analyzes the week that was and helps position you for the week ahead. i'm maria bartiromo. the bond king jeffrey gundlach is our special guest this weekend. gerri willis is standing by with some of the big headlines this week. gerri: a busy week indeed. earning season getting underway with bank earnings this week. wells fargo with revenue numbers coming in well below the mats. the bank however did report