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. Housing is Back according to an article on CNNMoney. 6 years after the housing market collapse we appear to be clawing our way out of the hole. As some areas see a bounce back other areas are roaring back. Depends on how far the values initially fell. Over the past year according to CoreLogic home prices increased in 92 of 100 metropolitan areas. Sales volumes rose in 69 of 100 markets with 35 of those showing double digit gains. Beth Braverman of CNNMoney believes that the days of low balling your first offer are over. Check out Zillow’s local info to see your area. For example in Levittown the sale price has been 96% of the asking price. That is one below the national average. A Seller’s Market? As the prices rise so do the sellers hopes. According to a recent poll 75% of homeowners think their realtor priced the home too low. Sellers need to price the home according to the current sales to allow the market to drive the price higher. More importantly just because you get a higher offer does not mean the home will appraise. Remember appraisals are a look back not forward. Put you home in the best light and remember that web appeal (good pictures with no clutter) is the new curb appeal as more than 90% of the searches today begin on-line.
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.