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. Please feel free to call 215-740-8999.
The Real Estate News this week was Big Money betting on Housing!. Hedge fund managers are grabbing as much undeveloped land as they can. The thought is that land falls the most in a downturn but rises the fastest in an upturn. Pulte Home Builders stock price has more than doubled over the past year while KB Homes and Lennar have come close to doubling. In other news the US is suing S&P over subprime ratings. First as you may have guessed S&P called the suit “entirely without factual or legal merit”. In essence we didn’t do it. C’mon man. The US alleges that the misconduct took place between 2004 and 2007 and they provided acceptable ratings to pools of loans being sold in the secondary market. The estimate is for more than $5 billion in damages.
We are on our own today to discuss the new FHA rules regarding the upfront and the monthly mortgage insurance premiums.
Please join us Sunday Morning at 5:30 on WPHT 1210 am for an honest assessment of the markets in your area.