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 on our own discussing home prices on the rise.
The Real Estate News this week was interesting. Fannie Mae turned a profit. Go Figure a government run business turned a sizable profit. Now the tax payers can get back some of the money they spent to bail out the lender. The 2012 profit was $17.2 billion. This is the first full year profit since 2006 and twice the profit in 2003 as the bubble was inflating. This is particularly good news for taxpayers as well as anyone who owns a home. What I found of interest is the fact that as this was taking place the rules are3 actually being relaxed a little as we now have a 3% down loan with no mortgage insurance. Home Bidding wars are back. It seems like just yesterday the buyers were in control. Now the tide is turning. In California 9 out of 10 homebuyers are encountering other bidders. In Sacramento it is not a question if but how many bidds will be tendered on your home. Low inventory is the reason and the hope is that as prices continue to rise more people will be able to sell at a profit.
Today Vince and I are on our own again in an effort to make sense in a non-sensical world.
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.