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 aired an older show with Congressman Mike Fitzpatrick This week had some interesting current events. Home Depot says Housing is Healing. Home Depot reported better than expected earnings and revenue and then raised guidance for the quarter citing “signs of a housing recovery”. According to CEO Frank Blake the results were “the start of a path toward the healing of the housing market.” Victims of “super storm” Sandy facing insurance nightmares. Your lender requires you to carry homeowners and flood insurance if you are in a flood prone area. You pay your premiums on time and never give it a second thought. If you were one of the tens of thousand people who were flooded in the recent storm you may be in for a rude awakening. Many storm victims in New York and New Jersey are finding out what their policies say. For example your homeowners covers wind damage and your flood insurance does not cover your finished basements. Financial regulation could put small community banks out of the mortgage business. There are roughly 7,000 community banks in the country. They earn their profits from deposits and loans. Some of the new regulation designed to curb the bigger banks from bad choices may in fact cause the smaller banks to go out of business. While the community banks do not engage in the activities that caused the financial meltdown they will suffer from the cure.
Today Vince and I are joined by Craig Lennox of LDS Inspections. Craig is very well suited for the home inspection business having started his career as an architectural designer. By understanding the design of a home Craig brings a greater knowledge to the home inspection business. Added to his repertoire is the environmental side of homeownership. Molds and allergens are among his specialties.
Please join us live at www.wbcb1490.com for the open discussion about the need for a home inspection.
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 week.
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.