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 were forced to re-run an older show with Brian Meara in a discussion about “short sales” and the fact they are not short at all. . This week was full of great current events: Buying beats renting in most cities. According to Zillow 75% of 200 Metropolitan areas surveyed its financially better to own then rent. Mortgage Settlement complaints pour in. Here is shock to those who know my anger with banks. It appears to the oversight team overseeing the $25 billion settlement that only $10 billion is being used to reduce principle. To quote one source there is “a lot of wiggle room” in the banks rules. Is it time to loosen underwriting standards yet? There is evidence that loosening some restrictions may actually be a good thing. That evidence is in car loans and credit cards. Yet in mortgages we continue to constrict borrowers even more today than in 2007. According to Susan Wachter a real estate professor from the Wharton school this is “counterintuitive.”Fannie Mae says NO to reducing principle balances. Edward DeMarco is the head of the government office that oversees Fannie Mae says reducing principle balances is a bad idea. I guess he is keeping his really good idea a secret for now. He has to be a government employee. Seriously!
Today Vince and I are joined by Sharyl Volpe from Warren Media. Believe it or not we wanted to just talk about how print media, radio and the internet work together to deliver a message. Local Living Magazine boasts “your home, your community, your life.” Sharyl is the editor and chief of this fantastic magazine. The first 10 callers will receive a free edition to the upcoming edition with a very special section about Shady McCoy from the Eagles.
In combination with www.CBSPhilly.com/AskPete 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.
Please join us live at www.wbcb1490.com for the open discussion about the different mediums to grow your business.
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.