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 were in an open forum discussing many misconceptions.
This week the Real Estate News was again pretty limited because all eyes have been, the Federal Reserve as they chose to stand pat on the stimulus contrary to almost everybody on Wall Street. The Federal Reserve apparently does not believe that the economy is steady enough without the current stimulus. Interestingly they have said since May that the “tapering” of their bond buying was data dependent and that data has not shown strong growth. This week the Real Estate News was again pretty limited because all eyes have been the Federal Reserve. Here is a look at some of the real estate news that impacted the Fed’s decision. New Home Starts are down. That’s right the torrid pace of building new homes has slowed. Permits have also dropped. The uptick in rates is still being considered a “restraint” but not a “derailment” according to economists. The Fed said NO to ending the stimulus. Finally are we still headed to 5% mortgage rates? Start thinking heavily about buying now because they are definitely going up. While there may be a slight push down in the short term the next push is certainly to move higher.
Today Eddie and I are joined by my old friends at Bucks County Hosing Group and a recent homebuyer Deb Schuster. Bucks County Housing Group is a private, non-profit social service organization which provides a wide range of housing and related social services to homeless and low-income families. Our primary goal is to assist families attain permanent housing and financial security. They have a first time Home Buyer workshop. The workshop prepares you for homeownership, teaches you about mortgages, and how to shop for a home.
Please join us live at www.wbcb1490.com for the open discussion about why NO is not necessarily the final answer.
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.