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 joined by Al Lentz of Lentzcaping and we learned a lot about another local business.
This week the Real Estate News has been very limited so I decided to look at some recent surveys and articles that depict what today’s buyers want and how they go about getting it. The first is “5 things to know about open houses”. In my 40 years of being in this business I have heard the debate over and over again as to the merits of open houses. As a realtor I liked to have open houses because it was one more tool to expose the home. The article states that roughly half of the buyers today attend open houses. This method of exposure can tell a buyer a lot. You may meet an agent you like. You can see how many people have signed in. The article goes on to tell buyers to not show all of your cards to the agent. The other article that I felt was worth discussing was a list of what today’s buyers are worried about. There were 7 items on the list after 2029 people were surveyed. The survey asked the question based on “house hunting worries” overall , in the hottest markets and for those planning to buy in the next 12 months. While the results varied a little in the three categories the list was as follows: 1. Mortgage Rates would rise, 2. Home prices would rise, 3. There would be no houses available, 4. Would not qualify for a loan, 5. Too much competition for a limited number of homes, 6. The value would drop after the purchase, and 7. Would need to rush the decision making process. Meanwhile while they were worrying the Housing Affordability Plunges. That’s right, contrary to earlier articles claiming the rise in rates would not deter the market were what I said. A bunch of garbage. The affordability index was 69.3% for the second quarter as opposed to the 73.7% in the first quarter and 78% in the end of 2011.
Today we are joined by Tony Ketterling and Tim Gulla from Equity Real Estate.
Equity was formed in 2002 on the basic concept of the word Equity, The act of being just and fair. This philosophy has created a pathway to success for our agents and brokers. While the Nation’s real estate market has been in decline these past years, Equity has experienced its greatest success!
Equity has a unique source of strength, due to remarkable ideas from our exceptional Agents and Brokers. Equity has allowed their Realtors® to collectively shape the brokerage around their needs which has created a living organization, one that continues to grow and develop around the brilliant requests of their Realtors®, and not around the bottom line of the Brokerage.
Equity believes that their unique Agents and Brokers are their greatest Strength.
Please join us live at www.wbcb1490.com for the open discussion about a unigue approach to today’s real estate 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.