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 us. For those of you who are new to the show I have spent the last 40 years in the real estate industry both as a realtor and a mortgage banker. The 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. 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 or on your FREE app Tune In Radio from 9:00am to 10:00 am every Friday.
So last week we introduced Eddie Ward our new loan officer.
This week the Real Estate News was all about real estate sales (new and existing) and prices. So existing home sales dipped 1.2% to 5.08 million in June. Whether it was higher rates or an exhausted market some of the steam was let out of the real estate balloon. Some of the issues came from lower inventory from fewer foreclosures. The lower supply is the leading push to higher sale prices. The median price in fact jumped 13.5% from June 2012. The 16th consecutive increase. While these numbers are very positive keep in mind we are still 11% below 2006 highs. The most interesting part of the article to me was the drop in first-time homebuyer activity. Those typically in their late 20’s to late 30’s are missing the party. Over the past 30 years that group has made up 40% of the buyers. This past month they represented 29% of the buyers. There was an interesting article explaining why slower sales signal a good recovery. Interesting outlook on slowly building the economy so not to create another bubble.
Today we are joined by Andy Dziedzic a Financial Strategies Advisory. Andy is a “certified Investment Management Analyst” and weal manager. Andy graduated from Indiana University of Pennsylvania as well as a masters degree in Finance from LaSalle. His CIMA designation was received from University of Pennsylvania’s Wharton School.
Please join us live at www.wbcb1490.com for the open discussion about Financial Fitness. A deeper look at financial gluttony and financial obesity. And Andy’s take on the 5 things to know about rising rates. Rising but still low. Lock or float? Fixed versus adjustable rates.
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.