week. ♪ >> 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. eight 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. we're gonna meet real people who faced 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 ]

if you buy a home today in america, there's a one-in-five chance that you will end up living under rules imposed by what we call a board of directors, usually elected by you, the local resident. this board has very broad powers, and based on certain guidelines, well, they dictate just about everything in the community -- from the color scheme, how many cars can be in the driveway, how high your grass can be. and a lot of states? guess what, guys? they have the power to take your home if you don't make your monthly dues payments and assessments. very, very important to understand this. in some cases, people really enjoy homeowners associations. why? because they protect them. in other cases, i must tell you, they are a nightmare. >> they can be totalitarian regimes, but most totalitarian regimes, while they have their downsides, they also can be clean and orderly. >> this is karen and james. they bought a home in an hoa-managed neighborhood and one day found themselves in the middle of a major battle. >> we came back from vacation,

and we found this rumble strip had been installed in front of our home. and first night back, made a tremendous amount of noise, and we realized, "this is not gonna work for us." >> their once-quiet house was now filled with this noise... [ rumbling ] ...every time a car drove by. >> you're just constantly interrupted. as soon as somebody goes over these rumble strips, you wake up. and then it takes you an hour or two to get back to sleep. it's just not fair to the homeowners. and what's so infuriating is that these hoa board members, they don't have these in front of their homes. >> we just couldn't take the noise anymore. we had the president come over to our house, president of the hoa, and we asked him, "look. we cannot sleep in our home because these rumble strips." >> he actually started yelling at me in my home, telling me, "who am i to demand them to remove the rumble strips?" and i said -- i had to remind him -- "we're the homeowners. that's who we are. and you're supposed to be our advocate. you're the homeowners association." >> they set up cameras looking out of their bedroom window to document the constant noise... and the fact that the strips do

not seem to slow the traffic down at all. they soon learn that they were pretty much powerless to take on the hoa. >> once you're outside of that gate, that is technically city of las vegas oversight. but once you are in these gates, the hoa owns these roads. they have oversight. they can determine the speed limits. they can determine what they're gonna put here. but it's just so difficult in that they don't have any skills or experience or education in transportation, road construction, engineering, and then this is what can happen. >> and they have the legal right to do it. and everything that they can do is in the cc&rs, which you are given. so, yes, it is legal, but it's not right. >> cc&rs are the covenants, conditions, restrictions, reservations -- the laws that you must sign if you want to buy a home in an hoa community. and they are legally enforceable with monetary fines and even talk about the right of hoas to foreclose on your property. in a different hoa, when this resident used foul language, well, he was fined $100, with another $100 being assessed

every week. there is no first amendment freedom of speech in homeowners associations. >> i find it amazing that three people on a board of directors have more power and protection than city, county, and state agencies combined. and it's all legal. >> for karen and james, the hoa battle -- well, it took its toll. >> we finally came to the conclusion we're not gonna sink our savings. we're not gonna lose any more sleep over this. we're gonna try to sell, and we're gonna try to get out. and that's exactly what we did. >> so, they packed up, and they moved. >> i'm not willing to spend our money and any more time living in a community where we cannot sleep. >> i just think that homeowners should have the right to challenge their hoa before and after decisions. >> and it's not just the rules that get people into trouble. hoas are notoriously aggressive for going after people who fall behind on their dues. in fact, nevada is one of about 20 states that have laws that allow hoa liens to get priority over first mortgages. >> it could be a few thousand dollars, and if the hoa isn't getting paid, it can go ahead

and foreclose and wipe out the first deed of trust that the bank may have. >> that means they can foreclose on your million-dollar home to collect just a few thousand dollars of unpaid dues. >> yesterday, i actually was talking to an individual in the real-estate industry who apparently bought lots and lots and lots of homes, like hundreds of homes, at homeowners' auctions, and they got them for extremely low prices. >> pennies on the dollar. >> unbelievable. >> yep. million-dollar homes bought for several thousand dollars. in 2007, this house was purchased with a mortgage of $800,000 when the homeowner fell behind on the mortgage and the hoa dues. it was the hoa. guess what they did? they quickly foreclosed and sold the house to an investor for a total of -- believe this? -- $6,000. bank of america held the mortgage, appealed to the supreme court. bye-bye. they lost. >> the nevada supreme court said, "no. super priority means super priority. homeowner doesn't pay their dues, hoa goes in and forecloses, and the house sells for 2,000 bucks to satisfy the

hoa dues, and it just wipes out a half-a-million-dollar mortgage, and that's the way it is. >> up next, are you in the market for a property with the bulletproof windows and a hidden gun compartment? we'll tell you who lived here when we come right back. [ woman vocalizing ] all money managers might seem the same, but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. and all thro' the house. 'twas the night before christmas, not a creature was stirring, but everywhere else... there are chefs, bakers and food order takers. doctors and surgeons and all the life savers.

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>> welcome back. i'm bob massi, the property man. well, las vegas has a legendary history, and every once in a while, a house goes on the market that lets us step back in time and see that history up close. here we are, las vegas country club, in the '70s, one of the most exclusive areas in las vegas. and i'm standing in front of "lefty" rosenthal's home. when you mention lefty's name, put it right next to tony spilotro, the infamous tony spilotro, the mobsters in the '70s. and if you saw the movie "casino," you know what i'm talking about. >> i was so good that whenever i

bet, i could change the odds for every bookmaker in the country. i'm serious. i had it down so cold that i was given paradise on earth. >> in the 1970s, frank rosenthal secretly ran various las vegas casinos for the chicago mob, including the stardust, the fremont hotel, and the hacienda. robert deniro's character was based on him, and sharon stone's based on his wife, geri. joe pesci's character was their partner, reputed mob boss anthony "tony the ant" spilotro. for much of the '70s, las vegas and its casinos was secretly run out of this very home. let's take a walk inside and meet the broker who's gonna sell this home. so, brian, we're at the infamous lefty rosenthal's home. it was built, what, in 1974? >> yes, roughly 1974. >> and he passed away, what, seven, eight years ago, i believe? >> 2008, i believe. these are the original doors to the house. they're bulletproof. as you know, he was being chased by the mob and the fbi and

everybody else. >> just about everybody. >> just about everyone, so the doors are bulletproof. the entry doors to the courtyard and these front doors, they've remained unchanged since the house was built. >> okay, let's go in. this is the window, by the way, that faces the las vegas country club, which is one of the oldest golf courses in las vegas. tell us about the window. >> right. the window is also bulletproof. the original window -- lefty was coming down the stairs one day. the mob tried to shoot him from across the golf course. and the original bullet mark is in the glass. it remains there today. >> it's amazing the way these guys lived, you know? >> yeah. >> going into what appears to be the living-room area. >> the smoke-mirrored ceilings and walls are original. the piece of art behind the television there on the wall, that's an original piece commissioned by steven chase out of palm springs for lefty rosenthal. the sunken bar is original. the closets in the house -- all the closets are original. an this one over here has a hidden gun compartment, where lefty kept his guns. >> yeah, let's go take a look at

that. there's like a little door that actually opens, and the gun or guns were put in that area. >> that's correct. >> the lifestyle that these guys had, and if these walls could talk, it would be amazing the business that went on in this particular place. >> absolutely. >> in fact, with so many investigations hounding lefty, this house became his criminal-defense headquarters, and his attorney, oscar goodman? guess what? he became mayor of las vegas, and now his wife, carolyn, is the current mayor. >> his lifestyle was different than any other person i had ever represented. he must have stayed up the better part of the night, holding court in the various restaurants, but he would stay in bed all day. and his wife would basically wait on him, and we would hold our meetings about his various cases, and i had, oh, i'd say maybe five or six cases going at any one time just involving him. and he would be there in his pajamas and then in his robe, and i would be taking my notes and going over things that lawyers go over with clients.

it was the most modern, scientific home in the history of the world. >> really? >> for the time, you couldn't get -- it was like a fortress, bulletproof windows, doors that locked automatically, alarms wherever you looked at, buzzers here. it was different than anything i've ever seen. >> brian, what's so interesting is, so much is authentic. so, it's not just that they're buying something from 1974. it's the history. like, for example, this you said is an original piece. >> that's right. that's right. this is an original that was put in when lefty lived here. there's original features throughout the house, and that's what makes it what it is. it's got that '70's vibe, that classic vegas feel to it. >> absolutely. let's go into the kitchen area. >> this is another original piece commissioned for lefty. it's been here since day one on the wall. the ceiling above has gold-leaf accent under the wood. that's all original. >> it's a part of history of las vegas that it'll never be like it was, and that's why whoever is interested in buying

this, they're buying a very big part of the history of las vegas. brian, let's take a look at the master bedroom here. >> okay. this is the master suite. all the closets and mirrors in the room are original. it has a great view looking out over the golf course. that's the 15th tee box out there. you might remember from the movie, there was a famous scene where the fbi -- they were trying to spy on lefty, and they ran out of fuel and landed on the golf course. they actually ended up in that pond out there. that's where the plane ended up. this bathroom over here is the original bathroom. everything you see in there, even the wallpaper, is original. >> it's interesting to see how bright the lights are. him being in the casino business -- >> and geri being a showgirl. >> and geri being a showgirl, this is like hollywood -- hollywood lights. >> that's right. >> how do you pitch it to a

prospective buyer with the history? 'cause some people don't like the idea it's a mob house. let's face it. >> sure. the history is the biggest part of this home, and it's a beautiful home. >> mm-hmm. >> but the history behind it is what makes it so unique. so, the story of lefty rosenthal and tony spilotro and everything that went on here, that's the angle that we use to market this home. >> up next, a look inside of one of the most beautiful properties you can imagine. >> this is a special home. the style would be classified as a desert contemporary. it gets you from the get-go. >> it does. when we come right back. [ woman vocalizing ]

>> welcome back. i'm bob massi, the property man. it doesn't matter if you're buying a $100,000 or a $20 million one. there are certain key things that you must know before making such a massive commitment. in just a few minutes, i'm gonna review those things with you. but first, we had a chance to check out one of the hottest properties for sale now, and it is truly amazing. take a look. ivan, i mean, this is your specialty, these magnificent homes, and we're just walking like an entrance to, like, "ben-hur." >> you know, this is a special home. the style would be classified as a desert contemporary. it gets you from the get-go. >> it does. >> i mean, you walk in, and you're captured by the views. and one of the things that separates this home from so many other homes is that they surrounded themselves with all this land and all of this privacy. what they did with this home is that they created a home that

not only shows well for entertaining but that you can live in, that you can have a family live in. so, this home right here, it's amazing to think of having families and normal-to-day activities, but this is where that would happen. you've got your family room. you've got your kitchen with a double island, all the newest appliances. >> and the view, 'cause now, as we're walking, and, of course, we're facing east. so, we actually could see downtown las vegas with this magnificent pool and fireplaces. it's just remarkable, the detail of this home. >> and it's not just "and the view." the view is the home. >> it is, isn't it? >> in las vegas, the strip is our ocean, and this is what we have. we're on the golf course. we're elevated above it. you're on just under two acres. it sets itself apart from just about everybody else because of what it has to offer in terms of view and amenities. >> and behind i see we have fire in different parts of the home, and i know there's a waterfall here. and now we're looking back in,

and you see even more so the detail of this entire beautiful room. how many square feet is this home? >> well, 16,000, and 21,000 under roof. for this particular home, i like to talk about the "wow" factor. i mean, you walk in, and it just, as i mentioned, it just gets you. >> it does. let's go look at some other areas. >> you got it. >> we're walking into the master bedroom, and, again, the views are so consistent, facing downtown las vegas, the east side of the town. >> to have a master bedroom that looks out and is kind of contoured by the ceiling detail and the roof that juts out and captures the strip and the golf course. this is the spot. >> sitting on two acres, the property doesn't just come with amazing views but also unparalleled privacy and security. for a home this size, what is the price on it right now? >> the price on this home is $17.5 million. >> and i will tell you, after

walking through the home with you, i'm surprised. i thought the price point was gonna be $25 million or $30 million. however, as you said, this is an advantage of living in las vegas. you take this home and put it in the hamptons, put it on the beach in los angeles, santa monica, whole different market. >> yeah, this home in a different market, outside of las vegas, you'd be at least double the price. this is the attraction. so many people, they have a misconception of what las vegas actually has to offer. we have things like -- we have a hair salon, a beauty salon. we have a spa that has a hot-and-cold plunging pool, and it has a steam room and an outdoor basketball court. we have a media room that's second to none. when the current owner purchased the home, he put in millions of dollars in upgrades. he added almost a half an acre and beyond to the size of the lot, to the landscaping, to the livability and the entertaining portion of it. he actually converted an extra 1,500 square feet. so, he added on 1,500 square feet to the house. so, the home that you see today

is not the home that it was even a few years back. >> how do you go about in your specialty to find a buyer for this home? >> finding a buyer for a home like this is not something that you do every day. this is a part of the market which is unique, and the buyer needs to be unique. what we do is we spend a lot of our time and a lot of our money in our marketing. but the biggest thing that we do is we create a campaign. we create a whole plan specific to the home, including a specific website. and a lot of our buyers in this price range are gonna come from out of state. >> is this the type of home you think a celebrity would buy, an athlete would buy, obviously somebody very successful that has the money to buy, 'cause you said it's $17.5 million. or is it one of those things you never know who's gonna walk through the door that's gonna say, "i want that home"? >> that's the answer, because it is a specialty home. people that can afford a home like this have multiple homes. and depending upon if this is their primary or secondary or beyond, it could be anybody. >> i guess probably the most

important question is, we know who needs the barbershop and who doesn't. >> [ laughs ] not me. >> exactly! very good. thanks, buddy. i appreciate it. >> thanks, bob. thanks so much. >> for most of us, a home like this is way out of our league. but there are still things you can learn from this property and how it's being sold. we'll tell you what they are when we come back, in the massi memo. [ woman vocalizing ] when i was shopping for car insurance, the choice was easy. i switched to geico and saved hundreds. excuse me... winner! that's a win. but it's not the only reason i switched. hi! geico has licensed agents who i can reach 24/7. great savings and round the clock service? now that's a win-win. winner. winner. yay me! oh, hi! good luck. switch to geico®. it's a win-win.

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>> welcome back. i'm bob massi, the property man. and it's time now for the massi memo. we showed you former gangster lefty rosenthal's house. if you're buying an historic home or even just an old home, well, you need to look out for certain things. in some cases, you can get tax credits if you're restoring the property. and, of course, historic homes, well, by their very nature, they're old, and, therefore, they need repairs. so, do this for me. look for a qualified contractor and get multiple bids. make sure they've worked on aged or historic homes. get a detailed home inspection with a licensed and bonded inspector. these historic and old homes many times, they have safety issues such as lead paint, termite issues, asbestos, structural issues from mere wear and tear. ask for utility bills, guys, to get a history of the cost. it could be expensive. and usually these old homes, well, they're not insulated at all.

also, i showed you that stunning $17 million mansion. go figure. buying and selling multimillion-dollar homes requires specific knowledge of the market. most sellers expect their broker to bring a qualified prospective buyer to the table before they just open their home to strangers. specialized qualified brokers like ivan, they understand the marketplace, and that's so important. prospective buyers, be prepared to answer questions about your financial situation related to the nature of your business -- who you are, what you do. many times, buyers can ask for luxury homes to include the furnishings, specialty items that make the home unique. and also, always remember, guys, you can negotiate closing costs. for you the seller -- well, you must make sure that your asking price is real. qualified buyers who have competent brokers know the marketplace. they've done their homework. that's it for today. be sure to send me your questions or property stories at propertyman@foxnews.com.

and check out our website at foxnews.com/propertyman. 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. [ whistle blows ] lou holtz can be summed up in one word -- a legend. he's best known for his time as coach of notre dame. but he actually brought six different college football programs to bowl games before being inducted into the college football hall of fame. coach holtz and beth, his wife of 54 years, live in lake nona, a section of orlando. one night in june, coach holtz and beth came home late. >> i went up to my office on the second floor. it was very hot. i told my wife, "the air conditioning must be broken." she said, "it can't be, but i'll call on monday." this was saturday night. so, because it was so hot, we went to bed downstairs, where the air conditioning worked. >> at 2:30 in the morning, out of a dead sleep, they woke to smoke alarms sounding and their 11,000-square-foot home fully engulfed in flames. >> we go outside and i look up and i see the flames shooting up. and, you know, you're in a state of shock. you can't believe it. and you're there with your wife at 2:30 in the morning

and just see everything you have. and your mind starts going through everything you're gonna lose, initially. and it's something you never thought would happen. that happens to somebody else. i read it. but it doesn't happen to me. >> a lightning strike had caused the fire, which destroyed their home and many irreplaceable items of memorabilia. >> we had two sections of a house connected by a hallway of trophy cases and memorabilia. the house where we lived, the 6,000-square-- it was completely destroyed. >> you know, when you see the damage that this fire has done to this home -- look at the extent of the devastation of this area. this was the kitchen area. obviously, the roof is gone, burned. i can't even imagine what the inferno was like when they walked outside. >> it first started upstairs where -- everything i had was in my office -- my wallet, my money, my credit cards, my license, all financial records. all the family pictures are gone, pictures with five

different presidents, two popes, pictures with them. you just think about everything you have is gone. >> the coach and beth thanked god they made it out alive. >> what i was grateful for -- no firemen were injured because it was a big fire. but you're sitting there, and you're just saying, "i can't believe this is happening." and you're depressed. we made a decision that till 8:00 monday morning, we will feel sorry for ourselves. but 8:00 monday morning, that's over. >> that's it. >> we're gonna look forward and see what we have to do. what's important now? your house burned down. you lost everything. what's important now? >> they hired ray altieri, a public insurance adjuster. that's someone who works on behalf of the policy holder in appraising and negotiating the insurance settlement. >> we've lost the entire second level above the kitchen. what we had upstairs were rooms that included lou's nest,

as it was called, where he could be alone and just relax. we also lost a large family/game-room area up there that was actually collapsed into the kitchen. we get hired to work the insurance claim from the perspective of the policyholder. therefore, we become their advocate in the process and work with the insurance companies, adjusters, and representatives to fine-tune the exact amount of damages and work towards an amicable resolution for settlement. >> sadly, coach holtz is not alone. there are about 370,000 house fires every year in the united states, which causes $7 billion in damage. many of those are due to lightning strikes. and in florida, well, they're a huge problem. the state has 1.2 million lightning strikes every year. that's 200,000 more than any other state. >> most people think, "certainly, i wouldn't lose my entire building. i wouldn't lose my entire home." but as you can see, this happens every day.

i've been doing this 35 years. and this is a very common occurrence, unfortunately. >> i think how fortunate we are and how blessed my wife and i are to have as many friends as we've had have come to our aid, to have the resources to rebuild. people don't have any idea how difficult it is, trying to replace everything. and where do you go? what are you gonna -- those are the people i feel sorry for. >> so you need to protect yourself before a tragedy strikes. when we come back, i'll tell you what coach holtz wants you to learn from his tragedy and the critical things you need to know right now to protect your property and your family. [ woman vocalizing ] i'm ken jacobus, i'm the owner of good start packaging. we distribute environmentally-friendly packaging for restaurants. and we've grown substantially. so i switched to the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy.

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♪ >> welcome back. i'm bob massi, the property man. while we saw the devastating tragedy that coach lou holtz and his wife suffered when their house was ravaged by fire, coach and beth thank god

they made it out alive. and in true lou holtz form, he kept everything in perspective. >> everything you have, from living, clothes, toothbrushes -- just everything is gone. >> gone. >> but we did not lose anything that could not be replaced. the only thing you can take to heaven with you are your children, so we didn't lose anything we were gonna take with us. >> so often, people think this can't happen to them. but it does happen. it happens to people like lou holtz and his wife. it happens to americans every single day, which is why it's so important to understand the type of insurance that you have to make sure you're covered for these type of devastating events. >> now, the insurance company -- and contrary to all the stories you hear about being negative -- has been more than fair with us. but they have been very thorough. >> i will speak for myself, even as a lawyer, have never sat down and really read my policy the way i should. >> [ laughs ]

>> did you ever even look at your policy before? >> never looked at the policy, didn't even know we had one, to be -- my wife handles all that. >> they hired ray altieri, a public insurance adjuster. >> it's one of the smartest things that we did. >> he was actually an advocate for you to make sure that whatever claims -- that if the insurance company pushed back, he would assist in resolving that. >> i wanted to remove all the pressure on my wife that i possibly could. we've been married 54 years, and she's just a great human being. and so because of that, we're in a position -- as i say, because of resources, we could do that. and money buys you time and convenience. buying -- paying this guy gives my wife the convenience to not have to deal with insurance. >> when you see this kind of devastation, the homeowner or the business owner would be extremely devastated and overwhelmed. there's no question about it. and mentally, i find it very hard to believe that they would be apt and capable to fully

represent their own position in the matter, so hiring experts to come in who take an objective look at things, who come from a perspective that, we want to make sure that the insurance policy that they bought works for them. >> there were so many different things that he brought to our attention. i thought, "wow. this is complicated." you know, i went to school to eat my lunch, no other basic reason, so trying to read that was above my head. >> insurance is personal protection if a loss occurs. your insurance agent is your key to understanding what you're buying. look at the house you're buying, the contents that make your home what it is. >> people tend to look at their insurance policy from a cost perspective instead of a recovery perspective. what you really want to know is that you got an insurance company and an insurance policy that is gonna help you fully recover, should you have a fire, should you have a flood, should you have a hurricane or a tornado hit. >> the only time you discover, generally, the exclusion is when something happens. in other words, in every

insurance policy, it's important you understand, before you buy that coverage, what is excluded. >> it's very important that your agent understands the true values of what your home is or what your business is. the inventory that you may have inside your home or your business should be truly understood and the values calculated. >> the thing i truly regret -- that we didn't get a video camera when we lived in the house. video every room of what you had. and we had about 11,000 square feet. and we didn't video. the biggest problem we have now, and time-consuming, is trying to reconstruct what you had in what room, what you lost, everything else. and if we had videotaped it, we'd have been able to do that. but that is something i urge everybody to do. in case of a theft, case of a fire... >> anything. >> ...anything, you have it. 'cause that is the biggest headache we have right now.

>> i cannot stress this enough -- take pictures and video of all the contents in your home and get appraisals on those special items. >> here's the other thing -- buy a fireproof safe. every time i need money, i had a special place for it. >> sure. >> all that's gone. all that's burned. and make sure your fire alarm is loud enough 'cause, the older you get, your hearing isn't quite as good. >> finally, shop the coverage, guys! it's a competitive market. and of course, probably the best advice anyone can get about anything -- try to think like coach lou holtz. >> and at '78, this is the not the challenge you want in life, to rebuild, but that's what it is, and that a situation we have, and these are the alternatives we have. and the best one is be positive about it and rebuild it. yeah, it's a catastrophe. but i think the attitude you have is so critical in how you handle it. oh, how blessed we were that we weren't injured and a firemen wasn't injured.

and harvey mackay's a good friend of mine, told me many years ago, "it isn't a loss unless you can't replace it." >> mmm. >> yeah, the memorabilia and the pictures with the popes and presidents and family, but we have our memories. i always said, "you gonna have three crises in your life every year." there's gonna three. i don't know what they're gonna be, but when i have a crisis, i'll say to my wife, "hey, good news -- we only have two more to go." >> what an amazing man. we could all learn a lot from lou holtz. and i've got more tips on how to protect your property when tragedy strikes in the massi memo at the end of the show. when we come back, something completely different. imagine never having to deal with checked-bag fees, security lines, and airport hassles. for some people, well, their neighborhood, it's its own airport, and their driveway is actually a runway. inside this unique community, when we return. [ woman vocalizing ]

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♪ >> when deciding where to live, many people want to be close to an airport. but what if your house is your airport? i want to take you inside of an neighborhood that is truly unique. >> the wellington aero club was designed from development in the late '70s to be an aeronautical community. >> located in the village of wellington, florida, and it is a private air-park community. the residents have planes in their garages, in their backyards, in their driveways. >> they may have a helicopter. they might have a floatplane or a seaplane. they could have a corporate jet or an ex-military aircraft. so you see a little bit of everything. >> parking your plane in your backyard is just the best thing i can think of. >> it really enables homeowners to capture what they're to do as

aviators, and that is to walk right out of their backdoor, right into their hangar, throw the bags in, and take off. >> and those backyard driveways, well, they back up to a 4,000-foot lighted runway that sits in the middle of the community. >> many private aeronautical communities are still grass runway. they don't allow the type of aircraft that we are able to land here. >> most of the other aero communities are in desolate areas. it's not where you're in the middle of what we have here. >> many of them are one strip, often grass, surrounded by maybe 20 or 30 houses. this is 275 houses. >> having a runway next to my house just makes flying that much easier, not having to drive, you know, 20, 30 minutes to an airport. >> very few people get to have a plane at all. but most people who have a plane have it at the airport, which is kind of like having a boat at the marina. you have to get all you stuff together, drive to the airport, unload it, put it in the plane. >> no matter where the home is located in the community, well, the runway provides quick and easy access for all.

>> this green grass strip here is a taxiway to accommodate just about any size airplane, all the way down to the runway. >> you literally could get in your plane, go to the runway, and leave, which is like getting in your car and driving to the supermarket. >> from here to nashville, tennessee, it's about a 4-hour flight. in the car, it's 14 hours. >> there are people in here who actually go to work every day by plane, by helicopter, instead of driving. >> i will go a week without driving sometimes. this morning, for example, i woke up at 7:00 a.m. took my kids to the bus stop. 15 minutes later, i was flying my way to stuart. >> yesterday, i brought my plane back from bend, oregon, and landed in my house yesterday at 5:00, put it away, and went and had dinner with the family. >> a trip to key west for three or four days is not a big deal. throw a couple bags in the front, two people, fly to key west. i can get there in less than an hour. it flies about 200 miles an hour, and it's got about an 800-mile range. >> this is a marchetti s-211, ex-military trainer jet.

it's an all-weather aircraft. it can fly day or night, any kind of weather. it cruises at about 375 miles per hour at 28,000 feet. this is like a whisper jet. you can't hear it come or go. so it's really neighborhood-friendly. it climbs quickly, it gets up away from the houses. >> the wellington aero club has over 96 pilots who live here in the community. currently right now, we have nearly 100 hangars, four under construction. >> all homes in the community -- well, they're covered by a homeowners association. and those fees cover maintenance for the paved runway, a pilot house, and common areas. an on-site aviation refueling facility is also available to all the residents. >> fuel hear is a whole lot less expensive than out at a commercial airport, so i always tend to fuel up here when we go and when we come back. >> it's a part of life that people don't even known exists. if you asked people in wellington, some of them don't even know

the aero club is here. >> one of the things we love about here is just the ability to go anywhere. i can grab one of my kids and head to orlando and go to the parks. >> don't have to stop at an airport and check luggage. >> there's no security lines at the airport. there's no getting in your car and showing up two hours early. you just get in your plane and you go. >> walk out the backdoor, go flying, and we're in the bahamas 45 minutes later. it's fantastic. >> you leave out of your house, and you're there, from your house. >> when security means just coffee and snacks for your kids. i mean, to be 20 minutes away from the keys, to just have the flexibility and say, "okay. we've having lunch today somewhere away from home," it is really amazing to have that opportunity. >> you're about to have lunch and you look at the plane and you look at the day and you say, "hey, you know what? let's do this in key west." and you jump in the plane, and you go to key west. >> out the kitchen door, i'm in key west in less than an hour. and it's easy. >> when the plane's 15 minutes away even, you won't do it.

>> pulling up in the plane with your family after a family vacation. your kids all pile out. and you're in your backyard. and your dog comes running up to you. and everybody who comes out of the house. and the bags just go straight in the house. there's nothing like it. it's great. if you can do it, i can't think of a better way to live. >> it allows homeowners this extreme recreational use. and it also gives the community value. >> biggest benefit of wellington for us has been the community itself. >> there's a connectivity here that you don't get in most kind of neighborhoods where you might not know you neighbor on the other side of the community. but here, we're all connected by airplanes and the love of aviation. so you know a lot more people. it's a very social neighborhood. >> when i moved here, it was a grass runway, and jets were not permitted here. i spearheaded the change in the runway to pavement. >> that conversion has changed the profile of this entire community. property values have increased. this year alone, we've sold seven new homes. all of the new homes were all sold to, uh, aviation folks.

>> we love flying. we love our airplanes. and we love to socialize. and it's just -- the combination of that just makes this such a great place to live. >> i don't think it can get any better. >> up next, the massi memo, with information you can't afford to miss, so stick around. [ woman vocalizing ]

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♪ >> time now for the massi memo. we saw the tragedy that struck coach lou holtz and his wife when their house burned to the ground. but always, the coach, well, he wants us to learn from this. so, other than critical things like always making making sure you have working smoke detectors, what do you really need to know? well, let's take a hard look at your insurance policy. fires are generally covered. but make sure you check the policy for at least what is called an ho2 or a brand form coverage. have your agent preview and review with you the policy to understand all coverage because we as homeowners -- we generally never take the opportunity to read and understand the policy. and find out about the exclusions in the policy, particularly, of course, when a claim is gonna be made. now, make sure your property is maintained in a safe manner to avoid denial of your claim. why? because we as homeowners are supposed to maintain it so

that the insurance company can't say we were negligent in the way that it was maintained, causing the loss. as we discussed earlier, please video all the things in your house. and designate each room and the contents in that room for proof if there's ever a loss. it's very important. be sure to keep this footage somewhere else or locked in a fireproof and heatproof safe. any high-end items, jewelries, furs, antiques, and special heirlooms, you have to have special coverage. or you're gonna be limited to a certain amount, probably much less than its actual value. if you do have a loss, make a claim with your insurance company as soon as possible. don't wait because there's usually time limitations on when you need to make a claim. and also, look into possibly, if necessary, hiring a public insurance adjuster who works as your advocate if your loss is large. that's it for today. be sure to send me your questions or property stories at propertyman@foxnews.com.

and check out our website at foxnews.com/propertyman. i'm bob massi. i'll see you next week. [ woman vocalizing ] paul: welcome to the journal editorial report as we wrap up a busy midterm election i'm paul gigot and we begin with the ouster of attorney general jeff sessions, admitted resignation on wednesday at the "of president trump ending 10-year mark over decision to recuse himself from russian interference in 2016 campaign, the president announcing via twitter that matthew whitaker would take over as acting attorney general until a permanent replacement can be confirmed by the senate, michael