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 Randi Marmer from TruMark Federal Credit Union as we kicked off our effort to raise money for Kiss A Pig.
This week the Real Estate News included Higher Mortgage rates won’t hurt the recovery. According to the article they cite that the past recoveries show that higher rates have no effect on home prices. In past recoveries however the was not a restriction on the percentage of your income allowed to be spent on a mortgage payment. The Qualified mortgage caps borrowing power. The caveat is that it will only effect sales if it rises too fast. So is three quarters of a percent in 45 days too fast? Is a housing bubble building. The sales of homes increased again in May. The article believes that if we do not start building more homes a bubble in real estate will build. Builders say housing is back. So the housing recovery seems real for sure. Just ask a builder. A key measure of home builder confidence was up dramatically this week and crossed a major threshold moving from 44 to 52. The National Association of Home Builders said that 41% of the respondents saw current conditions as positive. That number was 15% a year ago.
Today I have two guests: James Maxwell of J R Maxwell builders. When you choose J.R. Maxwell Builders you can be certain that you will receive the highest quality service and support as well as superior attention to detail. Whether they are simply fixing your front door or building you a magnificent new home, from the materials they choose to personnel decisions, they have a specific standard of quality to which they always adhere.
They refuse to cut corners and they will work with you at every phase of production to guarantee that your needs are met. Regardless of the circumstance, their customers come first. They take great care to ensure that they complete your project according to your exact specifications and timelines. If you are unsure about certain aspects of finished work, they will adjust it for you. If you choose to renovate your home you can continue living there while work is being finished. And Kevin Kennedy of Act Renewable as we kick off the Solar Hot Water giveaway.
Please join us live at www.wbcb1490.com for the open discussion about Home Building, Renovations and our kick-off to give away a FREE Solar Hot Water Heater from my friends at Act Renewable.
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.