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 think 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 discussed “Short Sales” with Brian Meara. This week was full of great current events: Fannie Mae does NOT need more bailout funds. Remarkably Fannie Mae made money in the first quarter of the year and they will actually be able to pay back some of the $116 billion they borrowed. That is a far cry from the $6.5 billion they lost the same quarter a year ago. So far they have paid back $23 billion of the $116 billion they owe. Some Housing Markets are looking at double digit price gains. According to the National Association of Realtors the national median home price declined by just .4% in the first quarter compared with the same period last year. According to Fiserv (a financial analytics company) home prices should start to rebound an average of 4% over the next 5 years. The New Consumer Protection Bureau is targeting predatory lending. They are working on new rules that will focus on points and fees and “transparency”. I thought the last change (for the worse mind you) was also for transparency. A new report shows that price declines may be ending. Fiserv which tracks Philadelphia prices quarterly showed the regions prices fell 5.79 percent in the 12 months ending December 31, 2011 (their most recent data). Fiserv believes after years of large decline the market is showing signs of “stabilization”.
Today we have the opportunity to spend an hour with James and Lauren Cronmiller of Keller Williams to discuss some of this week’s hot topics. James and Lauren are a father daughter team that work together and separately. I wanted to discuss an article I saw on CNBC Money finding the right agent. Some of the questions the article brought up were different than any questions I would ask.
Please join us live at www.wbcb1490.com for the open discussion with James and Lauren.
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.