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 because our guest needed to reschedule. This week was full of great current events: Survey Says: Fewer Affordable Homes. This is not a bad thing. Roughly 74% of the homes sold in the second quarter (new and existing) were affordable to people earning the national median income. That is actually down from 77.5% in the first quarter. The 74% is still historically very high. Bank Fees are on the Rise. That is a bad thing. The Banks lost income under the Durbin agreement that cut the fees they were able to collect from retailers. Only 35% of all the large banks accounts are free from fees. Credit unions are a good choice as 72% of those have no fee checking. Mortgage Probe could lead to action. Who cares at this point? After the barn burns down is it really worth the cost of the investigation.
Before we introduce our guests I wanted to take a moment to update everyone on Brian’s home purchase. As of last Friday I was leaving the studio to go to a walk through and then to my lawyers office to sign papers. Low and behold we signed everything and we were sent home because the lawyer representing Wells Fargo never got the HUD1 signed. Why? Because she felt it was more important to chase a $50 water bill receipt than collect $197,000 made payable to Wells Fargo. Seriously! Just for some added sport Brian’s agent actually told him the reason his office did not supply him with the phone number for PECO and the water company was because he refused to pay the $395 conveyance fee. This was customer service at its worst.
Today Vince and I are joined by Alpohorits and Jennifer Nehila from the “Mickey Pascarella Group” at Keller Williams. They are two agents in one of the highest producing teams at Keller Williams. Jennifer graduated from Boston University and before beginning her real estate career she was an editor and a reporter. These attributes have certainly served her well with her exceptional communication skills. Ask her and she will tell you that her best attribute is helping people better understand how to become financial educated. Solon is a lifelong Philadelphia resident. Solon is a graduate of Drexel University. Solon has the added benefit of having been in the mortgage business.
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 current status of the real estate industry.
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.