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 I was on my own without Vince in an open forum.
The Real Estate News this week was pretty positive if you look at Pending Home Sales. If this report is a harbinger of things to come we should see a pickup in sales. The number of contracts signed were up 1.5% from the previous month. The previous month was revised down .6%. Hence the net gain was only .9%. Still a good number. Home Prices continue up! According to Case Shiller home prices were up 9.3% over the past 12 months. That is the highest level since May of 2006 (the height of the bubble). As these prices increase they boost the economy. Underwater homeowners are able to sell or refinance. Using the money or the saving on other goods in the economy. All good. Is the New FHA solvency plan fair? Coming in June the FHA Mortgage Insurance Premium will remain with your loan forever. I personally think this was a poor way to capitalize FHA but to question the fairness seems silly to me.
Today Vince and I are joined by Bill Howlett from ReMax Ready. Bill is currently representing a buyer of a property owned by HUD and some of the requests have been somewhat humorous. Bill is a former St. Joe’s Prep and Muhlenberg Graduate who decided to take his finance expertise and help prospective home buyers navigate the maze of buying a home.
Please join us live at www.wbcb1490.com for the open discussion about the real estate market and the real estate financial market.
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.