Face it. If we believed everything we heard or read none of us would never even think of buying a home again. The news has been nothing but negative about real estate values across the country. The next 30 minutes is our opportunity to dispel the myths associated with the real estate landscape in your local area. Within every marketplace there are obstacles and solutions on the path to tremendous opportunities. Vince and I believe that most people are looking for practical advice.
The Real Estate News this week was all about the aggressive push that housing has made over the past year. Housing appears to finally be leading growth. This may be housings year. We have contended that housing needs to lead the way if we are to get out of the hole. The value of our homes psychologically make us feel wealthier. Home Prices make biggest gain in 6 years. Home prices were up 5.5% in November from a year ago. According to the Case-Shiller report this is the biggest jump in 6 years. This is a double edge sword. It is not simply a plus for the people selling their homes but a big help for those that are underwater on their current values as they relate to their current mortgage balances. There are some predicting a 6 to 7% surge in values this year and next. This good news for sure but to keep a perspective the prices in this report are still 29% below the values in 2006.
We are joined today by 1210’s own Rick Grimaldi. Rick is a plain talker. His approach to talk radio is to combine intelligent dialogue, which challenges his listeners, with a healthy dose of irreverence. He calls ‘em as he sees ‘em. With working class roots that links him with the greatest Philadelphians of all time, the Kelly family. He is a cousin of the royal family of Monaco but a true son of the region. When we Googled Rick there was a show dedicated to not being left or right just forthcoming.
Please join us Sunday Morning at 5:30 on WPHT 1210 am for an honest assessment of the markets in your area.