The Reality of Realty: Tempers Flare as Market Cools

So, how does he deal with the pressure? Pulos-Elwood said it sometimes gets taken out on his assistants. On "Flipping Out," Lewis does just that after another assistant checked e-mail from his computer.

"I have so much to worry about right now. So much," he said on the show. "I have more on my plate right now that ever before. This I don't need right now. I'm moving in two weeks. I've dealt with the client from hell. I don't need this right now so this is very upsetting to me."

Seeking Advice

What you see is what you get with Lewis, but it's his family of assistants and pets that help him keep it together and keep him making money.

"I constantly ask Jenni her opinion and she has developed a sophisticated design aesthetic so I am constantly bouncing ideas off Jenni," Lewis said.

Lewis also consults with a psychic, not only for himself, but for his pets too. He considers his psychic a psychologist/life coach.

"I have moments of weakness and I have moments of fear and I just need to hear from someone that it's going to be OK even if they are totally lying to me. When I am done, I feel good," Lewis said.

The show has wrapped for this season, but even with with prices falling Lewis is starting to feel comfortable again in a slower housing market. Right now he is handling four properties.

"It's very comfortable. I have money in the bank. I'm liquid. We can buy something else if we need to and I'm actually a little bored with four," he said. "I have a lot of time on my hands. … With five houses, I'm keeping really busy. I'm staying out of trouble. I was doing six at the time of the show. I totally overextended myself. I was completely stressed."

Burst Ego, Not Burst Bubble

At the end of the day, Lewis says there is a strategy to making money in real estate.

"We make money by buying the houses," he said. "I mean, we don't pay retail — I never pay retail. We get great deals on the house. When we buy them, we do the right improvements that maximize the value and we sell them."

He's branding a product, he says. Buyers notice and appreciate the top-of-the-line fixtures and high-end elements that go into a Jeff Lewis home. However, there was a time when Lewis could choose who bought his beautifully decorated and designed homes — not so much anymore. It's a buyers' market, he says.