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.
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The Real Estate News this week was interesting. First the recent housing recovery is creating more jobs. Last Friday’s big uptick in hiring got a big push from the housing recovery. The construction industry added 48,000 new jobs in February. Building supply firms added 4,300 workers in February making it one of the hottest retail segments to add workers. Boomerang buyers are back after foreclosure. Since the housing bubble popped 4.8 million Americans lost their homes to foreclosure and another 2.2 million sold them in a short sale negotiation according to RealtyTrac. People who lost their homes are circling back to buy again. The Veterans Administration allows a two year span before they will look at lending. Fannie Mae (bankrupt itself) is 3 to 7 years dependent upon certain criteria and the FHA is 3 years from foreclosure. A new Credit Score model is in the works. All three credit bureaus are now combining efforts to create a new secret sauce they call VantageScore. It is expected to help people with limited credit get a better score. This would be expected to boost millions of peoples ability to borrow if the lenders would adopt the new system. This will be a wait and see plan.
Today Vince and I are joined by George N. Luciani, President of Capital Planning Advisory Group. Mr. Luciani holds a Bachelor of Science degree in Business Administration with a concentration in Economics and Marketing from Villanova University, as well as master credits in Probability and Statistics from Drexel University. He has been active in the financial services industry since 1984. Mr. Luciani is the current Chairman of the Philadelphia Chapter of the Market Technician Association. He has also served as the Regional Director of the Institute, where he was responsible for representing the professional interests of approximately 3,000 Certified Financial Planner licensees in 15 societies between Maine and Maryland. Mr. Luciani is also the former Chairperson of the Princeton Society for the Institute of Certified Financial Planners.
Tune in to find out the difference between savings and investments. Learn more about the Stock and bond weekly forecast.
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