Hello, and welcome to Real Estate Reality Radio. The most important hour of radio every Friday from 9 to 10 on WBCB 1490 am. Thank you for joining Vince and me. For those of you who are not familiar with the show I am the guy with a bow tie and a bit of an attitude and Vince is the fun affable best friend. Our show is dedicated to dispelling the myths associated with Real Estate and finance in your marketplace.
Within every market 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 or visit peterbuchsbaum.com.
Please join us live on the web at www.wbcb1490.com from 9:00am to 10:00 am every Friday.
So last week we were joined by Bill Howlett from ReMax Ready.
The Real Estate News this week was all but nonexistent. The best I found was that more people are buying homes before they get married than ever before. Who needs an engagement ring. Get a key ring for the new home. Nearly 1 in 4 married couples bought a home before they were married according to the survey. So I will commit to a 30 year mortgage before I will commit to my partner. So Now even Fannie and Freddie are calling for higher prices over the next year. Fannie Mae found that 51% of those they surveyed believe that prices will rise over the next 12 months while only 35% thought the prices would fall. Only a year ago the survey found that 49% thought the prices would fall. 71% of those surveyed believe that now is a good time to buy a home. Interestingly those selling their homes only 30% thought it was a good time to sell.
Today Vince and I are joined by Rocco Lombardo and Chris Tripoletti. Rocco and Chris are a consultant/contractor team that is approved by many lenders to perform “feasibility” studies for FHA 203K loans. They are the key to successfully closing a 203K rehabilitation loan. With an increasing number of homes that need some repairs to meet township codes as well as buyers needs the 203K loan is beginning to grow. A large part of the Real Estate community have very little trust that the loans will close in a timely fashion. Rocco and Chris have taught us how to settle these loans in 45 days without a lot of fanfare.
Please join us live at www.wbcb1490.com for the open discussion about how to use the FHA 203K rehabilitation loan to your advantage. Or get the FREE app Tune In Radio and listen live on your phone.
In combination with CBS and WPHT 1210 am we have also been fortunate enough to have been asked to write some articles in “Local Living Magazine” to explore some of the questions you all ask us and the answers we provide. Look for your latest issue this month. For a FREE subscription please email us.
Each week we discuss the myths of the mortgage market. It is not about rate. A higher rate with no mortgage insurance may provide a lower payment.