Hello, and welcome to Real Estate Reality Radio. The most important half hour of radio every Friday from 9 to 9:30 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.
Last week we were discussing the current market trends locally while at a local eartery Redhouse Bagels.
This week’s news was all about jobs and their effect on housing. It has been an interesting week. The economy has shown some strength and in turn the stock market has lost ground for 5 days. Is this a correction? Too soon to tell. The effect on housing has been interesting. First the potential job growth has pushed interest rates higher. According to Freddie Mac the rates have jumped a little more than 1/8th of one percent. Face it rates are rising and according to the new home sales report the median price declined 4.5%. As the new rules approach in 30 days that trend may continue. Yes new rules may mean less choice. As the new regulatory rules take hold on January 10th it appears that the lending landscape may shrink. Many smaller lenders are calling it a day. The expense of the regulatory maintenance has caused a lot of the smaller lenders to close their doors. Still leads me to the age old conundrum of too much or too little. When I think the easy answer is better. Choosing quality over quantity.
Today we are on my own again to discuss the new normal again. I just saw a new opportunity to help underwater homeowners and look forward to being able to help more people.
Please join us live at www.wbcb1490.com for the open discussion about the opportunities that are available to many may not know they are there. You cannot get the answer to a question you have never asked. We are here to help answer the questions.
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.